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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

First Watch Restaurant (FWRG) Debt to Equity (2020 - 2025)

First Watch Restaurant has reported Debt to Equity over the past 6 years, most recently at $0.43 for Q4 2025.

  • Quarterly results put Debt to Equity at $0.43 for Q4 2025, up 35.69% from a year ago — trailing twelve months through Dec 2025 was $0.43 (up 35.69% YoY), and the annual figure for FY2025 was $0.43, up 35.69%.
  • Debt to Equity for Q4 2025 was $0.43 at First Watch Restaurant, up from $0.41 in the prior quarter.
  • Over the last five years, Debt to Equity for FWRG hit a ceiling of $0.9 in Q3 2021 and a floor of $0.16 in Q3 2023.
  • Median Debt to Equity over the past 5 years was $0.21 (2024), compared with a mean of $0.3.
  • Biggest five-year swings in Debt to Equity: plummeted 79.49% in 2022 and later surged 97.59% in 2024.
  • First Watch Restaurant's Debt to Equity stood at $0.2 in 2021, then fell by 8.49% to $0.18 in 2022, then increased by 17.91% to $0.21 in 2023, then soared by 48.88% to $0.32 in 2024, then surged by 35.69% to $0.43 in 2025.
  • The last three reported values for Debt to Equity were $0.43 (Q4 2025), $0.41 (Q3 2025), and $0.42 (Q2 2025) per Business Quant data.