First Watch Restaurant (FWRG) Cash from Operations (2020 - 2026)
First Watch Restaurant's Cash from Operations was $48.55 million in Q3 2026, up 1.4% from $47.88 million a year earlier and up 76.9% from the prior quarter.
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Analysis
First Watch Restaurant (FWRG) Cash from Operations (2020 - 2026) Analysis & Trends
On a trailing twelve-month basis, First Watch Restaurant's Cash from Operations was $128.91 million through Sep 27, 2026, down 1.1% year-over-year; for FY2025, it was $125.91 million, up 8.9% from FY2024.
- Cash from Operations has now increased for three consecutive years.
- In earlier years, Cash from Operations was $115.67 million in FY2024 (+21.3%), $95.34 million in FY2023 (+51.5%), $62.94 million in FY2022 (-0.1%) and $62.97 million in FY2021.
- The Q3 2026 figure marks the highest quarterly Cash from Operations in data going back to Q4 2020.
- Compared with a year earlier, Cash from Operations was higher in five of the last eight quarters, with growth averaging 7.9%.
- The best year-over-year quarter for Cash from Operations over five years was Q4 2021 (growth of 821.9%); the worst was Q2 2026 (a decline of 30.4%).
- Per Business Quant data, FWRG's Cash from Operations in the three quarters before Q3 2026 was $27.44 million (Q2 2026), $34.46 million (Q1 2026) and $18.46 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cash from Ops. (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 199.07 Bn | 195.11 Bn | 6.47 Bn | 3.03 Bn |
| 2 | Starbucks | 125.34 Bn | 125.35 Bn | - | 1.38 Bn |
| 3 | Chipotle Mexican Grill | 45.50 Bn | 42.00 Bn | - | 590.14 Mn |
| 4 | Yum Brands | 42.97 Bn | 38.79 Bn | 1.38 Bn | 475.00 Mn |
| 5 | Restaurant Brands International | 27.07 Bn | 24.44 Bn | 1.40 Bn | 551.00 Mn |
| 6 | Darden Restaurants | 25.87 Bn | 24.97 Bn | 1.68 Bn | 279.00 Mn |
| 7 | Restaurant Brands International Limited Partnership | 24.67 Bn | 20.46 Bn | 1.40 Bn | -704.00 Mn |
| 8 | Yum China Holdings | 16.86 Bn | 11.73 Bn | 652.00 Mn | 505.00 Mn |
| 9 | Texas Roadhouse | 12.35 Bn | 11.68 Bn | 1.02 Bn | 146.66 Mn |
| 10 | First Watch Restaurant | 829.60 Mn | 743.24 Mn | 3.14 Mn | 48.55 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 27, 2026 | 48.55 Mn |
| Jun 28, 2026 | 27.44 Mn |
| Mar 29, 2026 | 34.46 Mn |
| Dec 28, 2025 | 18.46 Mn |
| Sep 28, 2025 | 47.88 Mn |
| Jun 29, 2025 | 39.43 Mn |
| Mar 30, 2025 | 20.14 Mn |
| Dec 29, 2024 | 22.92 Mn |
| Sep 29, 2024 | 35.86 Mn |
| Jun 30, 2024 | 31.91 Mn |
| Mar 31, 2024 | 24.98 Mn |
| Dec 31, 2023 | 22.29 Mn |
| Sep 24, 2023 | 17.46 Mn |
| Jun 25, 2023 | 34.44 Mn |
| Mar 26, 2023 | 21.14 Mn |
| Dec 25, 2022 | 16.29 Mn |
| Sep 25, 2022 | 14.83 Mn |
| Jun 26, 2022 | 23.82 Mn |
| Mar 27, 2022 | 7.99 Mn |
| Dec 26, 2021 | 18.71 Mn |
API Access
First Watch Restaurant Cash from Operations API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cash-from-operations&ticker=FWRG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cash-from-operations", "ticker": "FWRG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cash-from-operations&ticker=FWRG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();