First Watch Restaurant (FWRG) Debt to Equity (2020 - 2026)

First Watch Restaurant's Debt to Equity history runs 7 years deep, the most recent figure standing at $0.43 for Q1 2026.

• In Q1 2026, Debt to Equity rose 33.39% year-over-year to $0.43; the TTM figure through Mar 2026 stood at $0.43 (up 33.39% YoY), while the FY2025 annual figure was $0.43, up 35.69% from the prior year.
• Debt to Equity was $0.43 for Q1 2026 at First Watch Restaurant, roughly flat from $0.43 in the prior quarter.
• In the past five years, Debt to Equity ranged from a high of $0.43 in Q4 2025 to a low of $0.16 in Q3 2023.
• Historically, Debt to Equity has averaged $0.27 across 5 years, with a median of $0.21 in 2024.
• The sharpest annual moves came in 2022 and 2024: Debt to Equity plunged 79.49% in 2022, then soared 97.59% in 2024.
• A 5-year view of Debt to Equity shows it stood at $0.18 in 2022, then grew by 17.91% to $0.21 in 2023, then surged by 48.88% to $0.32 in 2024, then jumped by 35.69% to $0.43 in 2025, then fell by 0.48% to $0.43 in 2026.
• The last three Debt to Equity figures came in at $0.43 (Q1 2026), $0.43 (Q4 2025), and $0.41 (Q3 2025), per Business Quant data.