First Watch Restaurant (FWRG) Price to Book (2021 - 2026)
First Watch Restaurant's Price to Book was 0.97 in Q3 2026, down 39.5% from 1.61 a year earlier and down 21.6% from the prior quarter.
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Analysis
First Watch Restaurant (FWRG) Price to Book (2021 - 2026) Analysis & Trends
For FY2025, Price to Book at First Watch Restaurant came in at 1.55, down 18.5% from FY2024.
- In earlier years, Price to Book was 1.91 in FY2024 (-11.1%), 2.14 in FY2023 (+33.4%), 1.61 in FY2022 (+5.4%) and 1.53 in FY2021.
- The Q3 2026 figure marks the lowest quarterly Price to Book in data going back to Q4 2021.
- Compared with a year earlier, Price to Book has declined for nine straight quarters, with an average decline of 22.3% over the last eight quarters.
- The best year-over-year quarter for Price to Book over five years was Q1 2024 (growth of 52.0%); the worst was Q1 2026 (a decline of 41.3%).
- Per Business Quant data, FWRG's Price to Book in the three quarters before Q3 2026 was 1.24 (Q2 2026), 1.01 (Q1 2026) and 1.55 (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Mcdonalds | 199.07 Bn | 195.11 Bn | 6.47 Bn |
| 2 | Starbucks | 125.34 Bn | 125.35 Bn | - |
| 3 | Chipotle Mexican Grill | 45.50 Bn | 42.00 Bn | - |
| 4 | Yum Brands | 42.97 Bn | 38.79 Bn | 1.38 Bn |
| 5 | Restaurant Brands International | 27.07 Bn | 24.44 Bn | 1.40 Bn |
| 6 | Darden Restaurants | 25.87 Bn | 24.97 Bn | 1.68 Bn |
| 7 | Restaurant Brands International Limited Partnership | 24.67 Bn | 20.46 Bn | 1.40 Bn |
| 8 | Yum China Holdings | 16.86 Bn | 11.73 Bn | 652.00 Mn |
| 9 | Texas Roadhouse | 12.35 Bn | 11.68 Bn | 1.02 Bn |
| 10 | First Watch Restaurant | 829.60 Mn | 743.24 Mn | 3.14 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 27, 2026 | 0.97 |
| Jun 28, 2026 | 1.24 |
| Mar 29, 2026 | 1.01 |
| Dec 28, 2025 | 1.55 |
| Sep 28, 2025 | 1.61 |
| Jun 29, 2025 | 1.63 |
| Mar 30, 2025 | 1.72 |
| Dec 29, 2024 | 1.91 |
| Sep 29, 2024 | 1.62 |
| Jun 30, 2024 | 1.81 |
| Mar 31, 2024 | 2.59 |
| Dec 31, 2023 | 2.14 |
| Sep 24, 2023 | 1.92 |
| Jun 25, 2023 | 1.75 |
| Mar 26, 2023 | 1.70 |
| Dec 25, 2022 | 1.61 |
| Sep 25, 2022 | 1.65 |
| Jun 26, 2022 | 1.66 |
| Mar 27, 2022 | 1.45 |
| Dec 26, 2021 | 1.53 |
API Access
First Watch Restaurant Price to Book API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=price-to-book&ticker=FWRG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-book", "ticker": "FWRG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=price-to-book&ticker=FWRG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();