First Watch Restaurant (FWRG) Shares Outstanding (2020 - 2026)
First Watch Restaurant's Weighted Average Shares Outstanding was 61.72 million in Q3 2026, up 1.1% from 61.03 million a year earlier and up 0.1% from the prior quarter.
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Analysis
First Watch Restaurant (FWRG) Shares Outstanding (2020 - 2026) Analysis & Trends
For FY2025, Weighted Average Shares Outstanding at First Watch Restaurant came in at 60.96 million, up 1.0% from FY2024.
- Weighted Average Shares Outstanding has now increased for five consecutive years, with a five-year compound annual growth rate of 6.3% (FY2020 to FY2025).
- In earlier years, Weighted Average Shares Outstanding was 60.37 million in FY2024 (+1.4%), 59.53 million in FY2023 (+0.7%), 59.1 million in FY2022 (+22.6%) and 48.21 million in FY2021 (+7.1%).
- The Q3 2026 figure marks the highest quarterly Weighted Average Shares Outstanding in data going back to Q3 2020.
- Compared with a year earlier, Weighted Average Shares Outstanding has increased for 20 straight quarters, with growth averaging 1.1% over the last eight quarters.
- Across the past five years, year-over-year growth in Weighted Average Shares Outstanding ran from 0.3% in Q1 2023 to 31.3% in Q3 2022.
- Per Business Quant data, FWRG's Weighted Average Shares Outstanding in the three quarters before Q3 2026 was 61.67 million (Q2 2026), 61.24 million (Q1 2026) and 60.96 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 199.07 Bn | 195.11 Bn | 6.47 Bn | 706.60 Mn |
| 2 | Starbucks | 125.34 Bn | 125.35 Bn | - | 1.14 Bn |
| 3 | Chipotle Mexican Grill | 45.50 Bn | 42.00 Bn | - | 1.27 Bn |
| 4 | Yum Brands | 42.97 Bn | 38.79 Bn | 1.38 Bn | 272.00 Mn |
| 5 | Restaurant Brands International | 27.07 Bn | 24.44 Bn | 1.40 Bn | 349.00 Mn |
| 6 | Darden Restaurants | 25.87 Bn | 24.97 Bn | 1.68 Bn | 113.60 Mn |
| 7 | Restaurant Brands International Limited Partnership | 24.67 Bn | 20.46 Bn | 1.40 Bn | 335.00 Mn |
| 8 | Yum China Holdings | 16.86 Bn | 11.73 Bn | 652.00 Mn | 342.00 Mn |
| 9 | Texas Roadhouse | 12.35 Bn | 11.68 Bn | 1.02 Bn | 65.63 Mn |
| 10 | First Watch Restaurant | 829.60 Mn | 743.24 Mn | 3.14 Mn | 61.72 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 27, 2026 | 61.72 Mn |
| Jun 28, 2026 | 61.67 Mn |
| Mar 29, 2026 | 61.24 Mn |
| Dec 28, 2025 | 60.96 Mn |
| Sep 28, 2025 | 61.03 Mn |
| Jun 29, 2025 | 61.01 Mn |
| Mar 30, 2025 | 60.77 Mn |
| Dec 29, 2024 | 60.37 Mn |
| Sep 29, 2024 | 60.43 Mn |
| Jun 30, 2024 | 60.38 Mn |
| Mar 31, 2024 | 60.01 Mn |
| Dec 31, 2023 | 59.53 Mn |
| Sep 24, 2023 | 59.65 Mn |
| Jun 25, 2023 | 59.39 Mn |
| Mar 26, 2023 | 59.24 Mn |
| Dec 25, 2022 | 59.10 Mn |
| Sep 25, 2022 | 59.09 Mn |
| Jun 26, 2022 | 59.06 Mn |
| Mar 27, 2022 | 59.05 Mn |
| Dec 26, 2021 | 48.21 Mn |
API Access
First Watch Restaurant Shares Outstanding 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=shares-outstanding&ticker=FWRG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding", "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=shares-outstanding&ticker=FWRG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();