First Watch Restaurant (FWRG) Enterprise Value (2020 - 2026)

First Watch Restaurant's (FWRG) quarterly Enterprise Value came in at -$23.6 million in Q1 2026, down 26.65% year-on-year from -$32.1 million in Q1 2025, and down 10.91% quarter-over-quarter from -$21.2 million in Q4 2025.

First Watch Restaurant (FWRG) Enterprise Value (2020 - 2026) Analysis & Trends

First Watch Restaurant's Enterprise Value history runs 7 years deep, the most recent figure standing at -$23.6 million for Q1 2026.

  • On a quarterly basis, Enterprise Value fell 26.65% year-over-year to -$23.6 million in Q1 2026; TTM through Mar 2026 was -$23.6 million, a 26.65% decrease from a year earlier, with the FY2025 full-year figure at -$21.2 million, up 36.26% from the prior year.
  • Enterprise Value slipped to -$23.6 million in Q1 2026 per FWRG's latest filing, from -$21.2 million in the prior quarter.
  • Across five years, Enterprise Value topped out at -$18.6 million in Q1 2025 and bottomed at -$67.1 million in Q2 2023.
  • The 5-year median for Enterprise Value is -$46.1 million (2024), against an average of -$40.6 million.
  • Across the five-year window, Enterprise Value jumped 59.49% in 2025 and decreased 26.65% in 2026, its largest moves.
  • Year by year, Enterprise Value stood at -$49.9 million in 2022, then dropped by 0.33% to -$50.1 million in 2023, then soared by 33.45% to -$33.3 million in 2024, then soared by 36.26% to -$21.2 million in 2025, then fell by 10.91% to -$23.6 million in 2026.
  • Per Business Quant, the three latest FWRG Enterprise Value figures stand at -$23.6 million (Q1 2026), -$21.2 million (Q4 2025), and -$20.7 million (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Enterprise Value (Qtr)
1 Starbucks 117.61 Bn 115.91 Bn 6.32 Bn -1.69 Bn
2 Chipotle Mexican Grill 41.20 Bn 40.33 Bn 2.61 Bn -871.42 Mn
3 Yum Brands 40.68 Bn 39.99 Bn 1.38 Bn -689.00 Mn
4 Restaurant Brands International 25.13 Bn 25.66 Bn 2.14 Bn 536.00 Mn
5 Darden Restaurants 22.23 Bn 21.99 Bn 3.68 Bn -219.50 Mn
6 Yum China Holdings 15.22 Bn 14.47 Bn 2.31 Bn -755.00 Mn
7 Texas Roadhouse 12.56 Bn 12.37 Bn 1.40 Bn -193.13 Mn
8 Dominos Pizza 10.74 Bn 10.60 Bn 478.23 Mn -134.43 Mn
9 Dutch Bros 8.14 Bn 8.10 Bn 107.48 Mn -39.44 Mn
10 First Watch Restaurant 737.04 Mn 713.47 Mn 279.06 Mn -23.57 Mn

Historic Data

Download Data
DateValue
Mar 29, 2026 -23.57 Mn
Dec 28, 2025 -21.25 Mn
Sep 28, 2025 -20.71 Mn
Jun 29, 2025 -19.18 Mn
Mar 30, 2025 -18.61 Mn
Dec 29, 2024 -33.33 Mn
Sep 29, 2024 -51.13 Mn
Jun 30, 2024 -46.07 Mn
Mar 31, 2024 -43.50 Mn
Dec 31, 2023 -50.09 Mn
Sep 24, 2023 -40.76 Mn
Jun 25, 2023 -67.09 Mn
Mar 26, 2023 -54.67 Mn
Dec 25, 2022 -49.92 Mn
Sep 25, 2022 -49.62 Mn
Jun 26, 2022 -53.82 Mn
Mar 27, 2022 -46.77 Mn
Dec 26, 2021 -52.12 Mn
Sep 26, 2021 -52.10 Mn
Dec 27, 2020 -39.10 Mn