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First Watch Restaurant Group, Inc. (FWRG) Stock Grade

FWRG · Consumer Cyclical

A
Grade updated: September 29, 2026
Computed by the GradeMyInvestments scoring model from revenue growth, profitability, balance-sheet strength, and analyst targets.
Market Cap
$626.4M
P/E Ratio
48.4
Revenue Growth (YoY)
+20.3%
Net Margin
1.6%
Return on Equity
3.1%
Dividend Yield
None

About First Watch Restaurant Group, Inc.'s fundamentals

First Watch Restaurant Group is a casual dining restaurant company with a market capitalization of $626.4 million that is experiencing strong top-line expansion, with revenue growing 20.3% year-over-year. However, the company operates with thin profitability margins, converting only 1.6% of revenue into net income, and generates a modest 3.1% return on equity despite commanding a relatively high valuation multiple of 48.4x earnings. The company does not currently pay a dividend, indicating earnings are being retained or reinvested into operations.

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