First Watch Restaurant (FWRG) Price to Sales (2021 - 2026)
First Watch Restaurant's (FWRG) Price to Sales was 0.46 for Q3 2026, down 44.6% from 0.84 a year earlier and down 22.4% from the prior quarter.
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Analysis
First Watch Restaurant (FWRG) Price to Sales (2021 - 2026) Analysis & Trends
For FY2025, Price to Sales at First Watch Restaurant was 0.80, down 28.8% from FY2024.
- By year, Price to Sales came in at 1.12 in FY2024 (-17.3%), 1.35 in FY2023 (+17.2%), 1.15 in FY2022 (-10.0%) and 1.28 in FY2021.
- The Q3 2026 figure ranks as the lowest quarterly Price to Sales in data going back to Q4 2021.
- Year over year, Price to Sales has now declined in each of the last ten quarters, with an average decline of 30.4% over the last eight quarters.
- The high point for year-over-year Price to Sales in five years was Q1 2024 (growth of 36.0%); the low point was Q1 2026 (a decline of 48.7%).
- Per Business Quant data, the three quarters before Q3 2026 came in at 0.60 (Q2 2026), 0.50 (Q1 2026) and 0.80 (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 | 0.46 |
| Jun 28, 2026 | 0.60 |
| Mar 29, 2026 | 0.50 |
| Dec 28, 2025 | 0.80 |
| Sep 28, 2025 | 0.84 |
| Jun 29, 2025 | 0.89 |
| Mar 30, 2025 | 0.97 |
| Dec 29, 2024 | 1.12 |
| Sep 29, 2024 | 0.96 |
| Jun 30, 2024 | 1.10 |
| Mar 31, 2024 | 1.61 |
| Dec 31, 2023 | 1.35 |
| Sep 24, 2023 | 1.29 |
| Jun 25, 2023 | 1.20 |
| Mar 26, 2023 | 1.18 |
| Dec 25, 2022 | 1.15 |
| Sep 25, 2022 | 1.21 |
| Jun 26, 2022 | 1.26 |
| Mar 27, 2022 | 1.15 |
| Dec 26, 2021 | 1.28 |
API Access
First Watch Restaurant Price to Sales 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-sales&ticker=FWRG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-sales", "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-sales&ticker=FWRG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();