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
DateValue
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