First Watch Restaurant Group, I (FWRG): Valuation
TTM figures as of June 28, 2026
First Watch Restaurant Group, I trades at 39.3 times trailing earnings and a -2.98% free-cash-flow yield. On P/E that is higher than 32% of its own month-end history back to 2021. The Consumer Cyclical median P/E is 17.3.
Earnings yield 2.54%. ROIC 4.5%. Net cash $6.0M.
59 month-end valuation observations are on file, starting October 2021.
Sector comparison uses 1708 Consumer Cyclical names.
Frequently asked questions
Is FWRG cheap versus its own history?
First Watch Restaurant Group, I trades at 39.3 times trailing earnings and a -2.98% free-cash-flow yield. On P/E that is higher than 32% of its own month-end history back to 2021. The Consumer Cyclical median P/E is 17.3.
What is FWRG's free-cash-flow yield?
First Watch Restaurant Group, I currently yields -2.98% of market cap as trailing free cash flow.
Where do these valuation figures come from?
Yields and quality metrics are computed from the same SEC TTM figures as the financials page, against the live market cap. Historical bands reconstruct month-end market cap from split-adjusted closes and the share count in the units it was filed, then divide by those dollar totals. Nothing here is a third-party estimate.