What is First Watch Restaurant Group, Inc.'s (FWRG) StockRank?

MoatMap's StockRank for First Watch Restaurant Group, Inc. (FWRG) is 9/100, with a Strong Sell signal. This is a composite score combining Quality (20), Value (34), and Momentum (27) factor ranks across MoatMap's universe of 25,000+ stocks.

Does First Watch Restaurant Group, Inc. have an economic moat?

First Watch Restaurant Group, Inc. (FWRG) has a Quality factor score of 20/100. The Quality factor combines ROIC, Piotroski F-Score, and leverage: the financial fingerprints of a durable competitive advantage. A Quality score above 70 typically indicates a company with the financial characteristics of a moated business.

Is First Watch Restaurant Group, Inc. a buy, hold, or sell?

MoatMap's current signal for First Watch Restaurant Group, Inc. (FWRG) is Strong Sell, based on a StockRank of 9/100. Signals are derived mechanically from the StockRank composite and should be one input among many; combine with your own thesis on management, competitive position, and valuation.

What sector is First Watch Restaurant Group, Inc. in?

First Watch Restaurant Group, Inc. (FWRG) operates in the Consumer Cyclical sector, specifically the Restaurants industry (United States).

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FWRG

Strong SellSinker

First Watch Restaurant Group, Inc. · Consumer Cyclical · United States · $772M · Avg Vol: $13M/d

StockRank

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P/E (TTM)

43.0x

ROE

2.9%

D/E

1.7x

Dividend %

—

COMPANY DESCRIPTION

First Watch Restaurant Group, Inc. operates and franchises daytime-only casual dining restaurants under the 'First Watch' brand across the United States. The company is known for its breakfast, brunch, and lunch offerings, emphasizing fresh, high-quality ingredients and made-to-order dishes. Its differentiated focus on daytime dining and strong brand loyalty contribute to its market position in the restaurant industry.

FINANCIAL SUMMARY (USD)

Year	2022	2023	2024	2025	CAGR	TTM	2026E	2027E	Fwd CAGR
Revenue	730.2M	891.6M	1.0B	1.2B	18.7%	1.3B	1.4B	1.5B	12.6%
EPS	0.12	0.43	0.31	0.32	38.7%	0.28	0.17	0.25	-10.9%
Shares	59.2M	59.9M	60.7M	61.1M	+3.2%	61.7M	—	—	—
Debt	507.4M	607.0M	809.6M	1.0B	25.7%	1.1B	—	—	—
Equity	523.1M	561.3M	595.4M	626.3M	6.2%	—	—	—	—
Op CF	62.9M	95.3M	115.7M	125.9M	26.0%	128.2M	—	—	—
Inv CF	-63.1M	-123.4M	-206.7M	-213.8M	—	—	—	—	—
Fin CF	-2.0M	28.1M	74.3M	75.8M	—	—	—	—	—

Loading 1Y...

PRICE (1Y)-16.1%

SMA 50SMA 200

$11.19

RSI (14)

33.5

52W High

$18.82

From 52W High

0.6%

SCORE BREAKDOWN

Quality

ROIC

1.8%18.9

ROE

2.9%26.0

GP/Assets

15.6%30.5

Op. Margin

2.5%26.1

FCF/Assets

-1.2%17.1

Piotroski

414.2

Int. Cover

1.5x20.4

D/E Ratio

1.69x11.3

Current Ratio

0.27x1.1

Value

P/E (TTM)

43.0x16.4

EV/EBITDA

15.4x28.2

P/FCF

—N/A

P/B

1.2x64.2

P/S

0.6x69.4

Div Yield

—N/A

Momentum

52W High %

59%25.1

RS 6M

-23%34.8

SMA 50/200

0.93x33.3

EPS Rev 4W

-4.7%9.8

EPS Rev 12W

-4.3%19.4

EPS Improve

-9%13.9

Q Growth

11%48.1

FUNDAMENTALS

Market Cap

$772M

P/E (Forward)

47.4x

Gross Margin

20.6%

SECTOR PEERS

Closest peers in Consumer Cyclical, ranked by industry match, size, and score similarity. Cross-listings of FWRG are excluded.

Ticker	Company	Mkt Cap	StockRank	Signal
FWRG	First Watch Restaurant Group, Inc.(you)	$772M	9	Strong Sell
SG	Sweetgreen, Inc.	$830M	10	Strong Sell
KRUS	Kura Sushi USA, Inc.	$577M	2	Strong Sell
PTLO	Portillo's Inc.	$341M	11	Strong Sell
BH-A	Biglari Holdings Inc.	$1.2B	20	Strong Sell
PZZA	Papa John's International, Inc.	$781M	29	Sell
BRCB	Black Rock Coffee Bar, Inc.	$203M	9	Strong Sell
SHAK	Shake Shack Inc.	$3.0B	10	Strong Sell
CNNE	Cannae Holdings, Inc.	$678M	36	Hold
DIN	Dine Brands Global, Inc.	$425M	32	Sell

Peer medians: ROE 8.4% · P/E 19.7x · Gross margin 36.7%

First Watch Restaurant Group, Inc. (FWRG): Stock Score Summary

First Watch Restaurant Group, Inc. (FWRG) has a MoatMap StockRank of 9/100 based on Quality (20/100), Value (34/100), and Momentum (27/100) factor scores. The current signal is STRONG SELL.

Key Financial Metrics

Price	$11.19
Market Cap	$772M
P/E (TTM)	43.04
P/E (Forward)	47.40
Price/Book	1.17
Return on Equity	2.9%
Return on Invested Capital	1.8%
Debt/Equity	1.69x
Gross Margin	20.6%
Operating Margin	2.5%
Revenue Growth	15.2%
Free Cash Flow	$-21M

First Watch Restaurant Group, Inc. operates in the Restaurants industry, part of the Consumer Cyclical sector (United States).

Frequently Asked Questions

What is First Watch Restaurant Group, Inc.’s (FWRG) StockRank?: MoatMap’s StockRank for First Watch Restaurant Group, Inc. (FWRG) is 9/100, with a Strong Sell signal. It is a composite of Quality (20), Value (34), and Momentum (27) factor ranks across MoatMap’s universe of 25,000+ stocks.
Does First Watch Restaurant Group, Inc. have an economic moat?: First Watch Restaurant Group, Inc. (FWRG) has a Quality factor score of 20/100. The Quality factor combines ROIC, Piotroski F-Score, and leverage: the financial fingerprints of a durable competitive advantage. A Quality score above 70 typically indicates a company with the characteristics of a moated business.
Is First Watch Restaurant Group, Inc. a buy, hold, or sell?: MoatMap’s current signal for First Watch Restaurant Group, Inc. (FWRG) is Strong Sell, based on a StockRank of 9/100. Signals are derived mechanically from the StockRank composite and should be one input among many; combine with your own thesis on management, competitive position, and valuation.
What sector is First Watch Restaurant Group, Inc. in?: First Watch Restaurant Group, Inc. (FWRG) operates in the Consumer Cyclical sector, specifically the Restaurants industry (United States).