Growth Metrics

First Watch Restaurant (FWRG) Operating Leases (2020 - 2025)

First Watch Restaurant (FWRG) has 6 years of Operating Leases data on record, last reported at $731.2 million in Q3 2025.

  • For Q3 2025, Operating Leases rose 36.96% year-over-year to $731.2 million; the TTM value through Sep 2025 reached $731.2 million, up 36.96%, while the annual FY2024 figure was $555.6 million, 25.9% up from the prior year.
  • Operating Leases reached $731.2 million in Q3 2025 per FWRG's latest filing, up from $629.3 million in the prior quarter.
  • Across five years, Operating Leases topped out at $731.2 million in Q3 2025 and bottomed at $366.1 million in Q4 2022.
  • Average Operating Leases over 5 years is $483.5 million, with a median of $441.3 million recorded in 2023.
  • Peak YoY movement for Operating Leases: fell 1.24% in 2022, then surged 36.96% in 2025.
  • A 5-year view of Operating Leases shows it stood at $370.7 million in 2021, then fell by 1.24% to $366.1 million in 2022, then increased by 20.53% to $441.3 million in 2023, then grew by 25.9% to $555.6 million in 2024, then surged by 31.6% to $731.2 million in 2025.
  • Per Business Quant database, its latest 3 readings for Operating Leases were $731.2 million in Q3 2025, $629.3 million in Q2 2025, and $555.6 million in Q4 2024.