First Watch Restaurant (FWRG) Price to Earnings (2022 - 2026)
First Watch Restaurant's Price to Earnings came in at 31.93 for Q3 2026, down 83.8% from 196.60 a year earlier and down 27.7% from the prior quarter.
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Analysis
First Watch Restaurant (FWRG) Price to Earnings (2022 - 2026) Analysis & Trends
For FY2025, First Watch Restaurant's Price to Earnings was 50.05, down 16.6% from FY2024.
- Going back by year, Price to Earnings was 59.98 in FY2024 (+26.5%), 47.42 in FY2023 (-61.1%) and 121.82 in FY2022.
- The Q3 2026 figure represents the lowest quarterly Price to Earnings in data going back to Q1 2022.
- Year-over-year, Price to Earnings has declined for four consecutive quarters, with growth averaging 76.2% over the last eight quarters.
- The fastest year-over-year change in Price to Earnings over five years came in Q2 2025 (growth of 448.2%), and the weakest in Q3 2023 (a decline of 84.6%).
- Business Quant data shows FWRG's Price to Earnings at 44.15 (Q2 2026), 36.15 (Q1 2026) and 50.05 (Q4 2025) in the three quarters before Q3 2026.
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 | 31.93 |
| Jun 28, 2026 | 44.15 |
| Mar 29, 2026 | 36.15 |
| Dec 28, 2025 | 50.05 |
| Sep 28, 2025 | 196.60 |
| Jun 29, 2025 | 240.48 |
| Mar 30, 2025 | 94.47 |
| Dec 29, 2024 | 59.98 |
| Sep 29, 2024 | 45.66 |
| Jun 30, 2024 | 43.87 |
| Mar 31, 2024 | 63.96 |
| Dec 31, 2023 | 47.42 |
| Sep 24, 2023 | 48.10 |
| Jun 25, 2023 | 56.72 |
| Mar 26, 2023 | 78.27 |
| Dec 25, 2022 | 121.82 |
| Sep 25, 2022 | 313.06 |
| Jun 26, 2022 | 246.36 |
| Mar 27, 2022 | 162.37 |
API Access
First Watch Restaurant Price to Earnings 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-earnings&ticker=FWRG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-earnings", "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-earnings&ticker=FWRG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();