First Watch Restaurant (FWRG) Total Debt (2020 - 2026)
First Watch Restaurant (FWRG) posted Total Debt of $291.28 million for Q3 2026, up 10.3% from $264.11 million a year earlier but down 0.4% from the prior quarter.
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Analysis
First Watch Restaurant (FWRG) Total Debt (2020 - 2026) Analysis & Trends
At the end of FY2025, First Watch Restaurant's Total Debt came in at $282.38 million, up 42.4% from FY2024.
- Annual Total Debt has increased for three consecutive years, though with a five-year compound annual growth rate of -0.5% (FY2020 to FY2025).
- In prior years, First Watch Restaurant's Total Debt was $198.27 million in FY2024 (+58.1%), $125.4 million in FY2023 (+22.6%), $102.3 million in FY2022 (-2.9%) and $105.34 million in FY2021 (-63.7%).
- Quarterly Total Debt has run from a low of $97.84 million in Q3 2023 to a high of $292.53 million in Q2 2026 over five years.
- On a year-over-year basis, Total Debt has increased in each of the last 12 quarters, with growth averaging 36.0% over the last eight quarters.
- The strongest year-over-year quarter for Total Debt in the past five years was Q3 2024, with growth of 101.8%; the weakest was Q3 2022, with a decline of 65.1%.
- According to Business Quant data, Total Debt for the three prior quarters was $292.53 million (Q2 2026), $282.1 million (Q1 2026) and $282.38 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Total Debt (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 198.08 Bn | 192.90 Bn | 6.42 Bn | 39.86 Bn |
| 2 | Starbucks | 123.34 Bn | 110.96 Bn | - | 13.28 Bn |
| 3 | Chipotle Mexican Grill | 45.28 Bn | 41.78 Bn | - | - |
| 4 | Yum Brands | 43.42 Bn | 40.31 Bn | 1.47 Bn | 12.28 Bn |
| 5 | Restaurant Brands International | 26.75 Bn | 22.54 Bn | 1.40 Bn | 13.27 Bn |
| 6 | Darden Restaurants | 25.71 Bn | 24.80 Bn | 1.68 Bn | 2.62 Bn |
| 7 | Restaurant Brands International Limited Partnership | 24.67 Bn | 20.46 Bn | 1.40 Bn | 13.27 Bn |
| 8 | Yum China Holdings | 17.17 Bn | 10.82 Bn | 537.00 Mn | 66.00 Mn |
| 9 | Texas Roadhouse | 12.34 Bn | 11.68 Bn | - | 50.00 Mn |
| 10 | First Watch Restaurant | 835.07 Mn | 748.71 Mn | - | 291.28 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 27, 2026 | 291.28 Mn |
| Jun 28, 2026 | 292.53 Mn |
| Mar 29, 2026 | 282.10 Mn |
| Dec 28, 2025 | 282.38 Mn |
| Sep 28, 2025 | 264.11 Mn |
| Jun 29, 2025 | 261.82 Mn |
| Mar 30, 2025 | 201.81 Mn |
| Dec 29, 2024 | 198.27 Mn |
| Sep 29, 2024 | 197.48 Mn |
| Jun 30, 2024 | 198.72 Mn |
| Mar 31, 2024 | 125.74 Mn |
| Dec 31, 2023 | 125.40 Mn |
| Sep 24, 2023 | 97.84 Mn |
| Jun 25, 2023 | 99.40 Mn |
| Mar 26, 2023 | 99.90 Mn |
| Dec 25, 2022 | 102.30 Mn |
| Sep 25, 2022 | 101.54 Mn |
| Jun 26, 2022 | 102.10 Mn |
| Mar 27, 2022 | 103.54 Mn |
| Dec 26, 2021 | 105.34 Mn |
API Access
First Watch Restaurant Total Debt 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=total-debt&ticker=FWRG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "total-debt", "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=total-debt&ticker=FWRG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();