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First Watch Restaurant Group, Inc. (FWRG)
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| Price date | EPS fiscal end | Basic P/E (×) | Diluted P/E (×) | P/S (×) | P/FCF (×) |
|---|
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First Watch Restaurant Group, Inc. (FWRG) · Nasdaq · USD · Sector unavailable · CIK 0001789940
Annual coverage: 2019-12-29–2025-12-28 (7 periods). Financial snapshot built 2026-10-09.
FWRG annual financial history
All stored annual observations, independent of the chart window. Per-share amounts in USD. Unavailable values are not zero.
See the calculation and limitations.
Annual per-share context (USD/share)
Complete annual history, independent of chart loading and range. Revenue/share is annual revenue per average diluted share. Debt/share is borrowings per year-end common share, excluding leases. Missing inputs remain unavailable. Metric definitions.
| Fiscal end | Revenue / share | Total debt / share | Inputs & filing sources |
|---|---|---|---|
| 2025-12-28 | 19.45 | Unavailable | Inputs & filingsrevenue: 1222501000; averageDilutedShares: 62842519; totalDebt: No supported complete debt aggregate or non-overlapping borrowing components; leases excluded; periodEndShares: 60700090 revenue (2026-02-24)averageDilutedShares (2026-02-24) periodEndShares (2026-02-24) |
| 2024-12-29 | 16.29 | Unavailable | Inputs & filingsrevenue: 1015910000; averageDilutedShares: 62351222; totalDebt: No supported complete debt aggregate or non-overlapping borrowing components; leases excluded; periodEndShares: 60700090 revenue (2026-02-24)averageDilutedShares (2026-02-24) periodEndShares (2026-02-24) |
| 2023-12-31 | 14.57 | Unavailable | Inputs & filingsrevenue: 891551000; averageDilutedShares: 61191613; totalDebt: No supported complete debt aggregate or non-overlapping borrowing components; leases excluded; periodEndShares: 59891705 revenue (2026-02-24)averageDilutedShares (2026-02-24) periodEndShares (2025-03-11) |
| 2022-12-25 | 12.14 | Unavailable | Inputs & filingsrevenue: 730162000; averageDilutedShares: 60140045; totalDebt: No supported complete debt aggregate or non-overlapping borrowing components; leases excluded; periodEndShares: 59211019 revenue (2025-03-11)averageDilutedShares (2025-03-11) periodEndShares (2024-03-05) |
| 2021-12-26 | 12.47 | Unavailable | Inputs & filingsrevenue: 601193000; averageDilutedShares: 48213995; totalDebt: No supported complete debt aggregate or non-overlapping borrowing components; leases excluded; periodEndShares: 59048446 revenue (2024-03-05)averageDilutedShares (2024-03-05) periodEndShares (2023-03-07) |
| 2020-12-27 | 7.61 | Unavailable | Inputs & filingsrevenue: 342388000; averageDilutedShares: 45013784; totalDebt: No supported complete debt aggregate or non-overlapping borrowing components; leases excluded; periodEndShares: 45013784 revenue (2023-03-07)averageDilutedShares (2023-03-07) periodEndShares (2022-03-23) |
| 2019-12-29 | 9.69 | Unavailable | Inputs & filingsrevenue: 436373000; averageDilutedShares: 45013784; totalDebt: No supported complete debt aggregate or non-overlapping borrowing components; leases excluded; periodEndShares: No positive common shares on the exact fiscal-end date revenue (2022-03-23)averageDilutedShares (2022-03-23) |
Annual returns and cash generation (%)
Complete annual history, independent of chart loading and range. FCF margin and FCF / net income use matching annual totals. ROCE uses positive exact opening and closing capital-employed bases. Inputs, scopes and unavailable reasons are disclosed below. Missing inputs remain unavailable. Metric definitions.
| Fiscal end | FCF margin (%) | FCF / net income (%) | ROCE (%) | Inputs & filing sources |
|---|---|---|---|---|
| 2025-12-28 | -2.54 | Unavailable | 1.86 | Inputs & filingsCalculation inputs: {"original":{"fcfTotal":{"value":-30994000,"capex":{"accession":"0001789940-26-000014","end":"2025-12-28","filed":"2026-02-24","form":"10-K","start":"2024-12-30","tag":"PaymentsToAcquirePropertyPlantAndEquipment","unit":"USD"},"ocf":{"accession":"0001789940-26-000014","end":"2025-12-28","filed":"2026-02-24","form":"10-K","start":"2024-12-30","tag":"NetCashProvidedByUsedInOperatingActivities","unit":"USD"}},"revenue":{"value":1222501000,"tag":"RevenueFromContractWithCustomerExcludingAssessedTax","unit":"USD","start":"2024-12-30","end":"2025-12-28","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"netIncome":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"operatingIncome":{"value":27511000,"tag":"OperatingIncomeLoss","unit":"USD","start":"2024-12-30","end":"2025-12-28","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"openingAssets":{"value":1514356000,"tag":"Assets","unit":"USD","start":null,"end":"2024-12-29","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"openingCurrentLiabilities":{"value":138472000,"tag":"LiabilitiesCurrent","unit":"USD","start":null,"end":"2024-12-29","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"openingCapitalEmployed":{"value":1375884000,"inputNames":["openingAssets","openingCurrentLiabilities"]},"openingParentEquity":{"value":595389000,"tag":"StockholdersEquity","unit":"USD","start":null,"end":"2024-12-29","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"openingTotalEquity":{"value":595389000,"inputNames":["openingParentEquity","openingAssets","openingLiabilities"]},"openingNoncontrollingEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingLiabilities":{"value":918967000,"tag":"Liabilities","unit":"USD","start":null,"end":"2024-12-29","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"openingCash":{"value":33312000,"tag":"CashAndCashEquivalentsAtCarryingValue","unit":"USD","start":null,"end":"2024-12-29","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"openingBorrowings":{"value":null,"reason":"No supported complete debt aggregate or non-overlapping borrowing components; 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leases excluded"},"closingInvestedCapital":{"value":null,"inputNames":["closingBorrowings","closingTotalEquity","closingCash"],"reason":"Exact complete borrowings, consolidated equity and cash missing, ambiguous or from different filings at 2025-12-28"},"closingPreferredEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingPreferredShares":{"value":0,"tag":"PreferredStockSharesOutstanding","unit":"shares","start":null,"end":"2025-12-28","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"closingCommonEquity":{"value":626279000,"inputNames":["closingParentEquity","closingPreferredShares"]},"commonNetIncome":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"parentNetIncome":{"value":19432000,"tag":"NetIncomeLoss","unit":"USD","start":"2024-12-30","end":"2025-12-28","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"preferredDividends":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"incomeTaxExpense":{"value":-7299000,"tag":"IncomeTaxExpenseBenefit","unit":"USD","start":"2024-12-30","end":"2025-12-28","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"pretaxIncome":{"value":12133000,"tag":"IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest","unit":"USD","start":"2024-12-30","end":"2025-12-28","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"effectiveTaxRate":{"value":null,"inputNames":["incomeTaxExpense","pretaxIncome"],"reason":"Tax/pretax/operating/net-income inputs do not share a filing"},"nopat":{"value":null,"inputNames":["operatingIncome","effectiveTaxRate"],"reason":"Tax/pretax/operating/net-income inputs do not share a filing"},"averageInvestedCapital":{"value":null,"inputNames":["openingInvestedCapital","closingInvestedCapital"]},"averageCapitalEmployed":{"value":1475207000,"inputNames":["openingCapitalEmployed","closingCapitalEmployed"]},"averageCommonEquity":{"value":610834000,"inputNames":["openingCommonEquity","closingCommonEquity"]}},"recovered":{}}; fcfMargin: -2.535294449656892; cashConversion: Consolidated income including noncontrolling interests is not confirmed; roce: 1.864890825490931 fcfMargin component 1 (2026-02-24) · fcfMargin component 2 (2026-02-24) · fcfMargin component 3 (2026-02-24)cashConversion component 1 (2026-02-24) · cashConversion component 2 (2026-02-24) roce component 1 (2026-02-24) · roce component 2 (2026-02-24) · roce component 3 (2026-02-24) · roce component 4 (2026-02-24) · roce component 5 (2026-02-24) |
| 2024-12-29 | -1.21 | Unavailable | 3.08 | Inputs & filingsCalculation inputs: {"original":{"fcfTotal":{"value":-12242000,"capex":{"accession":"0001789940-26-000014","end":"2024-12-29","filed":"2026-02-24","form":"10-K","start":"2024-01-01","tag":"PaymentsToAcquirePropertyPlantAndEquipment","unit":"USD"},"ocf":{"accession":"0001789940-26-000014","end":"2024-12-29","filed":"2026-02-24","form":"10-K","start":"2024-01-01","tag":"NetCashProvidedByUsedInOperatingActivities","unit":"USD"}},"revenue":{"value":1015910000,"tag":"RevenueFromContractWithCustomerExcludingAssessedTax","unit":"USD","start":"2024-01-01","end":"2024-12-29","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"netIncome":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"operatingIncome":{"value":38907000,"tag":"OperatingIncomeLoss","unit":"USD","start":"2024-01-01","end":"2024-12-29","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"openingAssets":{"value":1267045000,"tag":"Assets","unit":"USD","start":null,"end":"2023-12-31","filed":"2025-03-11","accession":"0001789940-25-000010","form":"10-K"},"openingCurrentLiabilities":{"value":115073000,"tag":"LiabilitiesCurrent","unit":"USD","start":null,"end":"2023-12-31","filed":"2025-03-11","accession":"0001789940-25-000010","form":"10-K"},"openingCapitalEmployed":{"value":1151972000,"inputNames":["openingAssets","openingCurrentLiabilities"]},"openingParentEquity":{"value":561284000,"tag":"StockholdersEquity","unit":"USD","start":null,"end":"2023-12-31","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"openingTotalEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingNoncontrollingEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingLiabilities":{"value":705761000,"tag":"Liabilities","unit":"USD","start":null,"end":"2023-12-31","filed":"2025-03-11","accession":"0001789940-25-000010","form":"10-K"},"openingCash":{"value":49632000,"tag":"CashAndCashEquivalentsAtCarryingValue","unit":"USD","start":null,"end":"2023-12-31","filed":"2025-03-11","accession":"0001789940-25-000010","form":"10-K"},"openingBorrowings":{"value":null,"reason":"No supported complete debt aggregate or non-overlapping borrowing components; 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fcfMargin: -1.205028004449213; cashConversion: Consolidated income including noncontrolling interests is not confirmed; roce: 3.078260787006855 fcfMargin component 1 (2026-02-24) · fcfMargin component 2 (2026-02-24) · fcfMargin component 3 (2026-02-24)cashConversion component 1 (2026-02-24) · cashConversion component 2 (2026-02-24) roce component 1 (2026-02-24) · roce component 2 (2025-03-11) · roce component 3 (2025-03-11) · roce component 4 (2026-02-24) · roce component 5 (2026-02-24) |
| 2023-12-31 | 1.35 | Unavailable | 3.83 | Inputs & filingsCalculation inputs: {"original":{"fcfTotal":{"value":12009000,"capex":{"accession":"0001789940-26-000014","end":"2023-12-31","filed":"2026-02-24","form":"10-K","start":"2022-12-26","tag":"PaymentsToAcquirePropertyPlantAndEquipment","unit":"USD"},"ocf":{"accession":"0001789940-26-000014","end":"2023-12-31","filed":"2026-02-24","form":"10-K","start":"2022-12-26","tag":"NetCashProvidedByUsedInOperatingActivities","unit":"USD"}},"revenue":{"value":891551000,"tag":"RevenueFromContractWithCustomerExcludingAssessedTax","unit":"USD","start":"2022-12-26","end":"2023-12-31","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"netIncome":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"operatingIncome":{"value":41267000,"tag":"OperatingIncomeLoss","unit":"USD","start":"2022-12-26","end":"2023-12-31","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"openingAssets":{"value":1104446000,"tag":"Assets","unit":"USD","start":null,"end":"2022-12-25","filed":"2024-03-05","accession":"0001789940-24-000012","form":"10-K"},"openingCurrentLiabilities":{"value":99980000,"tag":"LiabilitiesCurrent","unit":"USD","start":null,"end":"2022-12-25","filed":"2024-03-05","accession":"0001789940-24-000012","form":"10-K"},"openingCapitalEmployed":{"value":1004466000,"inputNames":["openingAssets","openingCurrentLiabilities"]},"openingParentEquity":{"value":523135000,"tag":"StockholdersEquity","unit":"USD","start":null,"end":"2022-12-25","filed":"2026-02-24","accession":"0001789940-26-000014","form":"10-K"},"openingTotalEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingNoncontrollingEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingLiabilities":{"value":581311000,"tag":"Liabilities","unit":"USD","start":null,"end":"2022-12-25","filed":"2024-03-05","accession":"0001789940-24-000012","form":"10-K"},"openingCash":{"value":49672000,"tag":"CashAndCashEquivalentsAtCarryingValue","unit":"USD","start":null,"end":"2022-12-25","filed":"2024-03-05","accession":"0001789940-24-000012","form":"10-K"},"openingBorrowings":{"value":null,"reason":"No supported complete debt aggregate or non-overlapping borrowing components; 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| 2020-12-27 | -13.18 | Unavailable | Unavailable | Inputs & filingsCalculation inputs: {"original":{"fcfTotal":{"value":-45113000,"capex":{"accession":"0001789940-23-000011","end":"2020-12-27","filed":"2023-03-07","form":"10-K","start":"2019-12-30","tag":"PaymentsToAcquirePropertyPlantAndEquipment","unit":"USD"},"ocf":{"accession":"0001789940-23-000011","end":"2020-12-27","filed":"2023-03-07","form":"10-K","start":"2019-12-30","tag":"NetCashProvidedByUsedInOperatingActivities","unit":"USD"}},"revenue":{"value":342388000,"tag":"RevenueFromContractWithCustomerExcludingAssessedTax","unit":"USD","start":"2019-12-30","end":"2020-12-27","filed":"2023-03-07","accession":"0001789940-23-000011","form":"10-K"},"netIncome":{"value":-49681000,"tag":"ProfitLoss","unit":"USD","start":"2019-12-30","end":"2020-12-27","filed":"2022-03-23","accession":"0001789940-22-000012","form":"10-K"},"operatingIncome":{"value":-47222000,"tag":"OperatingIncomeLoss","unit":"USD","start":"2019-12-30","end":"2020-12-27","filed":"2023-03-07","accession":"0001789940-23-000011","form":"10-K"},"openingAssets":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingCurrentLiabilities":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingCapitalEmployed":{"value":null,"inputNames":["openingAssets","openingCurrentLiabilities"],"reason":"Exact assets/current-liabilities balance missing, conflicting or from different filings at 2019-12-29"},"openingParentEquity":{"value":329797000,"tag":"StockholdersEquity","unit":"USD","start":null,"end":"2019-12-29","filed":"2023-03-07","accession":"0001789940-23-000011","form":"10-K"},"openingTotalEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingNoncontrollingEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingLiabilities":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingCash":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingBorrowings":{"value":null,"reason":"No supported complete debt aggregate or non-overlapping borrowing components; 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leases excluded"},"closingInvestedCapital":{"value":null,"inputNames":["closingBorrowings","closingTotalEquity","closingCash"],"reason":"Exact complete borrowings, consolidated equity and cash missing, ambiguous or from different filings at 2020-12-27"},"closingPreferredEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingPreferredShares":{"value":266667,"tag":"PreferredStockSharesOutstanding","unit":"shares","start":null,"end":"2020-12-27","filed":"2022-03-23","accession":"0001789940-22-000012","form":"10-K"},"closingCommonEquity":{"value":null,"inputNames":["closingParentEquity","closingPreferredShares"],"reason":"Common equity scope requires explicit preferred carrying value or zero preferred shares; absence is not zero"},"commonNetIncome":{"value":-49681000,"tag":"NetIncomeLossAvailableToCommonStockholdersBasic","unit":"USD","start":"2019-12-30","end":"2020-12-27","filed":"2023-03-07","accession":"0001789940-23-000011","form":"10-K"},"incomeTaxExpense":{"value":-19873000,"tag":"IncomeTaxExpenseBenefit","unit":"USD","start":"2019-12-30","end":"2020-12-27","filed":"2023-03-07","accession":"0001789940-23-000011","form":"10-K"},"pretaxIncome":{"value":-69554000,"tag":"IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest","unit":"USD","start":"2019-12-30","end":"2020-12-27","filed":"2023-03-07","accession":"0001789940-23-000011","form":"10-K"},"effectiveTaxRate":{"value":null,"inputNames":["incomeTaxExpense","pretaxIncome"],"reason":"Positive pretax income required"},"nopat":{"value":null,"inputNames":["operatingIncome","effectiveTaxRate"],"reason":"Positive pretax income required"},"averageInvestedCapital":{"value":null,"inputNames":["openingInvestedCapital","closingInvestedCapital"]},"averageCapitalEmployed":{"value":null,"inputNames":["openingCapitalEmployed","closingCapitalEmployed"]},"averageCommonEquity":{"value":null,"inputNames":["openingCommonEquity","closingCommonEquity"]}},"recovered":{}}; fcfMargin: -13.175987476196596; cashConversion: Positive net income required; zero or negative denominator is unavailable; roce: matching numerator and positive exact opening/closing CapitalEmployed required; ambiguous scopes remain unavailable; unavailable: openingCapitalEmployed; Exact assets/current-liabilities balance missing, conflicting or from different filings at 2019-12-29 fcfMargin component 1 (2023-03-07) · fcfMargin component 2 (2023-03-07) · fcfMargin component 3 (2023-03-07)cashConversion component 1 (2023-03-07) · cashConversion component 2 (2023-03-07) · cashConversion component 3 (2022-03-23) roce component 1 (2023-03-07) · roce component 2 (2022-03-23) · roce component 3 (2022-03-23) |
| 2019-12-29 | -8.64 | Unavailable | Unavailable | Inputs & filingsCalculation inputs: {"original":{"fcfTotal":{"value":-37704000,"capex":{"accession":"0001789940-22-000012","end":"2019-12-29","filed":"2022-03-23","form":"10-K","start":"2018-12-31","tag":"PaymentsToAcquirePropertyPlantAndEquipment","unit":"USD"},"ocf":{"accession":"0001789940-22-000012","end":"2019-12-29","filed":"2022-03-23","form":"10-K","start":"2018-12-31","tag":"NetCashProvidedByUsedInOperatingActivities","unit":"USD"}},"revenue":{"value":436373000,"tag":"RevenueFromContractWithCustomerExcludingAssessedTax","unit":"USD","start":"2018-12-31","end":"2019-12-29","filed":"2022-03-23","accession":"0001789940-22-000012","form":"10-K"},"netIncome":{"value":-45472000,"tag":"ProfitLoss","unit":"USD","start":"2018-12-31","end":"2019-12-29","filed":"2022-03-23","accession":"0001789940-22-000012","form":"10-K"},"operatingIncome":{"value":-37556000,"tag":"OperatingIncomeLoss","unit":"USD","start":"2018-12-31","end":"2019-12-29","filed":"2022-03-23","accession":"0001789940-22-000012","form":"10-K"},"openingAssets":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingCurrentLiabilities":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingCapitalEmployed":{"value":null,"inputNames":["openingAssets","openingCurrentLiabilities"],"reason":"Exact assets/current-liabilities balance missing, conflicting or from different filings at 2018-12-30"},"openingParentEquity":{"value":374674000,"tag":"StockholdersEquity","unit":"USD","start":null,"end":"2018-12-30","filed":"2022-03-23","accession":"0001789940-22-000012","form":"10-K"},"openingTotalEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingNoncontrollingEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingLiabilities":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingCash":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingBorrowings":{"value":null,"reason":"No supported complete debt aggregate or non-overlapping borrowing components; leases excluded"},"openingInvestedCapital":{"value":null,"inputNames":["openingBorrowings","openingTotalEquity","openingCash"],"reason":"Exact complete borrowings, consolidated equity and cash missing, ambiguous or from different filings at 2018-12-30"},"openingPreferredEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingPreferredShares":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"openingCommonEquity":{"value":null,"inputNames":["openingParentEquity","openingPreferredShares"],"reason":"Common equity scope requires explicit preferred carrying value or zero preferred shares; absence is not zero"},"closingAssets":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingCurrentLiabilities":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingCapitalEmployed":{"value":null,"inputNames":["closingAssets","closingCurrentLiabilities"],"reason":"Exact assets/current-liabilities balance missing, conflicting or from different filings at 2019-12-29"},"closingParentEquity":{"value":329797000,"tag":"StockholdersEquity","unit":"USD","start":null,"end":"2019-12-29","filed":"2023-03-07","accession":"0001789940-23-000011","form":"10-K"},"closingTotalEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingNoncontrollingEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingLiabilities":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingCash":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingBorrowings":{"value":null,"reason":"No supported complete debt aggregate or non-overlapping borrowing components; leases excluded"},"closingInvestedCapital":{"value":null,"inputNames":["closingBorrowings","closingTotalEquity","closingCash"],"reason":"Exact complete borrowings, consolidated equity and cash missing, ambiguous or from different filings at 2019-12-29"},"closingPreferredEquity":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingPreferredShares":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"closingCommonEquity":{"value":null,"inputNames":["closingParentEquity","closingPreferredShares"],"reason":"Common equity scope requires explicit preferred carrying value or zero preferred shares; absence is not zero"},"commonNetIncome":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"parentNetIncome":{"value":-45439000,"tag":"NetIncomeLoss","unit":"USD","start":"2018-12-31","end":"2019-12-29","filed":"2022-03-23","accession":"0001789940-22-000012","form":"10-K"},"preferredDividends":{"value":null,"reason":"Missing or conflicting matching SEC fact","conflict":false},"incomeTaxExpense":{"value":-12419000,"tag":"IncomeTaxExpenseBenefit","unit":"USD","start":"2018-12-31","end":"2019-12-29","filed":"2022-03-23","accession":"0001789940-22-000012","form":"10-K"},"pretaxIncome":{"value":-57891000,"tag":"IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest","unit":"USD","start":"2018-12-31","end":"2019-12-29","filed":"2022-03-23","accession":"0001789940-22-000012","form":"10-K"},"effectiveTaxRate":{"value":null,"inputNames":["incomeTaxExpense","pretaxIncome"],"reason":"Positive pretax income required"},"nopat":{"value":null,"inputNames":["operatingIncome","effectiveTaxRate"],"reason":"Positive pretax income required"},"averageInvestedCapital":{"value":null,"inputNames":["openingInvestedCapital","closingInvestedCapital"]},"averageCapitalEmployed":{"value":null,"inputNames":["openingCapitalEmployed","closingCapitalEmployed"]},"averageCommonEquity":{"value":null,"inputNames":["openingCommonEquity","closingCommonEquity"]}},"recovered":{}}; fcfMargin: -8.640314593249352; cashConversion: Positive net income required; zero or negative denominator is unavailable; roce: matching numerator and positive exact opening/closing CapitalEmployed required; ambiguous scopes remain unavailable; unavailable: openingCapitalEmployed, closingCapitalEmployed; Exact assets/current-liabilities balance missing, conflicting or from different filings at 2018-12-30; Exact assets/current-liabilities balance missing, conflicting or from different filings at 2019-12-29 fcfMargin component 1 (2022-03-23) · fcfMargin component 2 (2022-03-23) · fcfMargin component 3 (2022-03-23)cashConversion component 1 (2022-03-23) · cashConversion component 2 (2022-03-23) · cashConversion component 3 (2022-03-23) roce component 1 (2022-03-23) |
Annual operating facts
Complete annual history, independent of chart loading and range. Operating margin is operating profit as a percentage of revenue; net margin is consolidated net profit as a percentage of revenue. Negative margins show losses. Missing inputs remain unavailable. Metric definitions.
| Fiscal end | Revenue (USD) | Operating margin (%) | Net margin (%) | Inputs & filing sources |
|---|---|---|---|---|
| 2025-12-28 | 1,222,501,000.00 | 2.25 | Unavailable | Inputs & filingsrevenue: 1222501000; operatingIncome: 27511000; netIncome: Consolidated income including noncontrolling interests is not confirmed revenue (2026-02-24)operatingIncome (2026-02-24) |
| 2024-12-29 | 1,015,910,000.00 | 3.83 | Unavailable | Inputs & filingsrevenue: 1015910000; operatingIncome: 38907000; netIncome: Consolidated income including noncontrolling interests is not confirmed revenue (2026-02-24)operatingIncome (2026-02-24) |
| 2023-12-31 | 891,551,000.00 | 4.63 | Unavailable | Inputs & filingsrevenue: 891551000; operatingIncome: 41267000; netIncome: Consolidated income including noncontrolling interests is not confirmed revenue (2026-02-24)operatingIncome (2026-02-24) |
| 2022-12-25 | 730,162,000.00 | 2.32 | Unavailable | Inputs & filingsrevenue: 730162000; operatingIncome: 16913000; netIncome: Consolidated income including noncontrolling interests is not confirmed revenue (2025-03-11)operatingIncome (2025-03-11) |
| 2021-12-26 | 601,193,000.00 | 3.70 | -0.35 | Inputs & filingsrevenue: 601193000; operatingIncome: 22243000; netIncome: -2107000 revenue (2024-03-05)operatingIncome (2024-03-05) netIncome (2022-03-23) |
| 2020-12-27 | 342,388,000.00 | -13.79 | -14.51 | Inputs & filingsrevenue: 342388000; operatingIncome: -47222000; netIncome: -49681000 revenue (2023-03-07)operatingIncome (2023-03-07) netIncome (2022-03-23) |
| 2019-12-29 | 436,373,000.00 | -8.61 | -10.42 | Inputs & filingsrevenue: 436373000; operatingIncome: -37556000; netIncome: -45472000 revenue (2022-03-23)operatingIncome (2022-03-23) netIncome (2022-03-23) |
First Watch Restaurant Group, Inc. (FWRG) P/E ratio history
The interactive P/E chart contains all 263 stored weekly price points (2021-10-01–2026-10-08); 198 have an eligible basic or diluted ratio. Annual EPS is carried forward from its fiscal end. Use the P/E range bar or any other chart range bar to change all five chart windows.
Fiscal-year-end snapshots
4 eligible fiscal-year-end observations span 2022-12-25–2025-12-28. Latest eligible diluted P/E: 51.32×; basic P/E: 49.72×, for fiscal end 2025-12-28, using the close on 2025-12-26.
Annual P/E = eligible fiscal-year-end close ÷ reported annual EPS. This is retrospective annual P/E, not TTM or forward P/E. Why we use annual data. Missing or non-positive EPS and missing eligible prices produce unavailable ratios.
Explore the P/E chart and optional reference lines · How P/E history is calculated.
Complete annual P/E history (7 fiscal periods)
| Fiscal end | Price date | Close | Price basis | Basic P/E | Diluted P/E | EPS filings |
|---|---|---|---|---|---|---|
| 2025-12-28 | 2025-12-26 | 15.91 | Adjusted close | 49.72 | 51.32 | Basic EPS (2026-02-24) Diluted EPS (2026-02-24) |
| 2024-12-29 | 2024-12-27 | 18.70 | Adjusted close | 60.32 | 62.33 | Basic EPS (2026-02-24) Diluted EPS (2026-02-24) |
| 2023-12-31 | 2023-12-29 | 20.10 | Adjusted close | 46.74 | 49.02 | Basic EPS (2026-02-24) Diluted EPS (2026-02-24) |
| 2022-12-25 | 2022-12-23 | 14.21 | Adjusted close | 118.42 | 129.18 | Basic EPS (2025-03-11) Diluted EPS (2025-03-11) |
| 2021-12-26 | 2021-12-23 | 15.97 | Adjusted close | Unavailable | Unavailable | Basic EPS (2024-03-05) Diluted EPS (2024-03-05) |
| 2020-12-27 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Basic EPS (2023-03-07) Diluted EPS (2023-03-07) |
| 2019-12-29 | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Basic EPS (2022-03-23) Diluted EPS (2022-03-23) |
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