First Watch Restaurant (FWRG) Free Cash Flow (2020 - 2026)
First Watch Restaurant's (FWRG) quarterly Free Cash Flow came in at $5.1 million in Q1 2026, up 131.15% year-on-year from $2.2 million in Q1 2025, and up 127.87% quarter-over-quarter from -$18.3 million in Q4 2025.
First Watch Restaurant (FWRG) Free Cash Flow (2020 - 2026) Analysis & Trends
First Watch Restaurant's Free Cash Flow history runs 7 years deep, the most recent figure standing at $5.1 million for Q1 2026.
- On a quarterly basis, Free Cash Flow rose 131.15% year-over-year to $5.1 million in Q1 2026; TTM through Mar 2026 was -$9.5 million, a 62.16% increase from a year earlier, with the FY2025 full-year figure at -$31.0 million, down 153.18% from the prior year.
- Free Cash Flow advanced to $5.1 million in Q1 2026 per FWRG's latest filing, from -$18.3 million in the prior quarter.
- Across five years, Free Cash Flow topped out at $58.8 million in Q4 2022 and bottomed at -$18.3 million in Q4 2025.
- The 5-year median for Free Cash Flow is -$1.7 million (2025), against an average of $2.0 million.
- Across the five-year window, Free Cash Flow jumped 462.28% in 2022 and sank 355.47% in 2025, its largest moves.
- Year by year, Free Cash Flow stood at $58.8 million in 2022, then sank by 114.05% to -$8.3 million in 2023, then sank by 114.39% to -$17.7 million in 2024, then slipped by 3.49% to -$18.3 million in 2025, then surged by 127.87% to $5.1 million in 2026.
- Per Business Quant, the three latest FWRG Free Cash Flow figures stand at $5.1 million (Q1 2026), -$18.3 million (Q4 2025), and $5.5 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Starbucks | 117.61 Bn | 115.91 Bn | 6.32 Bn | 91.80 Mn |
| 2 | Chipotle Mexican Grill | 41.20 Bn | 40.33 Bn | 2.61 Bn | 471.02 Mn |
| 3 | Yum Brands | 40.68 Bn | 39.99 Bn | 1.38 Bn | 341.00 Mn |
| 4 | Restaurant Brands International | 25.13 Bn | 25.66 Bn | 2.14 Bn | 169.00 Mn |
| 5 | Darden Restaurants | 22.23 Bn | 21.99 Bn | 3.68 Bn | 379.00 Mn |
| 6 | Yum China Holdings | 15.22 Bn | 14.47 Bn | 2.31 Bn | 406.00 Mn |
| 7 | Texas Roadhouse | 12.56 Bn | 12.37 Bn | 1.40 Bn | 227.47 Mn |
| 8 | Dominos Pizza | 10.74 Bn | 10.60 Bn | 478.23 Mn | 166.68 Mn |
| 9 | Dutch Bros | 8.14 Bn | 8.10 Bn | 107.48 Mn | 27.72 Mn |
| 10 | First Watch Restaurant | 737.04 Mn | 713.47 Mn | 279.06 Mn | 5.11 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 29, 2026 | 5.11 Mn |
| Mar 29, 2026 | 5.11 Mn |
| Dec 28, 2025 | -18.34 Mn |
| Dec 28, 2025 | -18.34 Mn |
| Sep 28, 2025 | 5.46 Mn |
| Sep 28, 2025 | 5.46 Mn |
| Jun 29, 2025 | -1.71 Mn |
| Jun 29, 2025 | -1.71 Mn |
| Mar 30, 2025 | -16.41 Mn |
| Mar 30, 2025 | -16.41 Mn |
| Dec 29, 2024 | -17.72 Mn |
| Dec 29, 2024 | -17.72 Mn |
| Sep 29, 2024 | 6.78 Mn |
| Sep 29, 2024 | 6.78 Mn |
| Jun 30, 2024 | 2.30 Mn |
| Jun 30, 2024 | 2.30 Mn |
| Mar 31, 2024 | -3.60 Mn |
| Mar 31, 2024 | -3.60 Mn |
| Dec 31, 2023 | -8.27 Mn |
| Dec 31, 2023 | -8.27 Mn |