First Watch Restaurant Group, Inc.
FWRGConsumer CyclicalNASDAQRestaurants
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Daily timeframeHeadquartered within the consumer cyclical sector, First Watch Restaurant Group, Inc. focuses on Restaurants services and products. First Watch Restaurant Group, Inc., through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. Valued at $672.0M, FWRG is a small-cap name in its sector. The company was formerly known as AI Fresh Super Holdco, Inc.
Market Cap
$672.0M
Beta
1.05
P/E (TTM)
38.89
P/E (Fwd)
45.83
EPS (TTM)
$0.28
EPS (Fwd)
$0.24
ROE
2.9%
ROA
1.2%
Cash
$20.5M
Total Debt
$1.07B
Free CF
-$42.8M
52W Change
-39.6%
Annual Financials
Cash vs Debt
Where FWRG stands vs its 150-day and 200-day moving averages
As of the October 20, 2026 close, FWRG finished 3.05% above its 150-day moving average ($11.80) and 3.65% below its 200-day moving average ($12.62). This snapshot is end-of-day data shown with a five-trading-day delay on the free plan; Premium members see readings from the latest close.
Is FWRG overbought or oversold?
At the October 20, 2026 close, FWRG's RSI(14) was 75.9, in overbought territory (above 70). The MACD histogram was positive, so short-term momentum leaned bullish at that close. These readings are historical, refresh daily after market close, and are not investment advice.
First Watch Restaurant Group, Inc. carries $1.07B in total debt against $20.5M in cash reserves — debt is roughly 52.4x the cash position. Managing this leverage effectively will be important for long-term financial stability. Free cash flow is running at -$42.8M, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. Return on equity stands at 2.9%, which is modest for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. ROA of 1.2% is on the lower side, which is common in asset-heavy industries. Revenue has grown from $730.2M (2022) to $1.22B (2025), reflecting a 67% increase over the period.
The debt-to-cash ratio suggests meaningful leverage on the balance sheet, a factor worth monitoring if credit conditions tighten. The company is burning cash at the operating level, which is not unusual for growth-phase companies but adds risk if it persists. Understanding these risk dimensions helps frame what to watch going forward as conditions evolve for First Watch Restaurant Group, Inc. and its sector.