First Watch Restaurant Group, Inc.
Financial highlights
| Metric | FY 12/28/25 | FY 12/29/24 | FY 12/31/23 | FY 12/25/22 | FY 12/26/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $1.2B | $1.0B | $891.6M | $730.2M | $601.2M |
| Operating income | $27.5M | $38.9M | $41.3M | $16.9M | $22.2M |
| Interest expense | $16.7M | $12.6M | $8.1M | $5.2M | $20.1M |
| Pretax income | $12.1M | $28.0M | $36.1M | $12.6M | $370,000 |
| Income tax expense | -$7.3M | $9.1M | $10.7M | $5.7M | $2.5M |
| Net income | $19.4M | $18.9M | $25.4M | $6.9M | -$2.1M |
| Balance Sheet | |||||
| Cash and equivalents | $21.2M | $33.3M | $49.6M | $49.7M | $51.9M |
| Current assets | $49.1M | $55.9M | $71.2M | $67.3M | $67.7M |
| Total assets | $1.7B | $1.5B | $1.3B | $1.1B | $1.0B |
| Current liabilities | $167.5M | $138.5M | $115.1M | $100.0M | $96.5M |
| Total liabilities | $1.1B | $919.0M | $705.8M | $581.3M | $542.5M |
| Total debt | $267.6M | $193.8M | $92.5M | $98.1M | $100.0M |
| Stockholders' equity | $626.3M | $595.4M | $561.3M | $523.1M | $504.4M |
| Cash Flow Statement | |||||
| Cash from operations | $125.9M | $115.7M | $95.3M | $62.9M | $63.0M |
| Depreciation and amortization | $66.5M | $52.1M | $39.7M | $33.3M | $31.3M |
| Stock-based compensation | $10.8M | $8.5M | $7.6M | $10.4M | $8.6M |
| Capital expenditure | $156.9M | $127.9M | $83.3M | $62.2M | $35.3M |
| Free cash flow | -$31.0M | -$12.2M | $12.0M | $718,000 | $27.7M |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 61.6M
Annual filing data through FY ended December 28, 2025; float as of July 15, 2026.