First Watch Restaurant (FWRG) Debt Ratio (2020 - 2026)

First Watch Restaurant's Debt Ratio history runs 7 years deep, the most recent figure standing at 0.15 for Q1 2026.

• In Q1 2026, Debt Ratio rose 22.21% year-over-year to 0.15; the TTM figure through Mar 2026 stood at 0.15 (up 22.21% YoY), while the FY2025 annual figure was 0.15, up 24.08% from the prior year.
• Debt Ratio was 0.15 for Q1 2026 at First Watch Restaurant, down from 0.15 in the prior quarter.
• In the past five years, Debt Ratio ranged from a high of 0.15 in Q4 2025 to a low of 0.08 in Q3 2023.
• Historically, Debt Ratio has averaged 0.11 across 5 years, with a median of 0.1 in 2024.
• The sharpest annual moves came in 2022 and 2024: Debt Ratio sank 68.63% in 2022, then soared 69.68% in 2024.
• A 5-year view of Debt Ratio shows it stood at 0.09 in 2022, then rose by 10.28% to 0.09 in 2023, then soared by 32.14% to 0.12 in 2024, then gained by 24.08% to 0.15 in 2025, then fell by 2.06% to 0.15 in 2026.
• The last three Debt Ratio figures came in at 0.15 (Q1 2026), 0.15 (Q4 2025), and 0.15 (Q3 2025), per Business Quant data.