First Watch Restaurant Group, Inc.(FWRG)Stock Analysis
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Rank #1,501 of 2,962 stocks
View Consumer Discretionary peers →
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
FWRG Stock Analysis & AI Quality Score
Data updated 2026-09-11AI stock analysis and institutional research for First Watch Restaurant Group, Inc. (FWRG), a Consumer Discretionary sector company. 13F Pro's AI-powered ranking engine scores FWRG at 51.9/100 on a 32-signal composite quality model, placing it at rank #1,501 of 2,962 stocks — the bottom half of the AI-ranked universe. FWRG scores in the top quartile across earnings quality (94.2), revenue growth (78.2). Areas of concern include institutional flow (12.4) and free cash flow (24.0), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), First Watch Restaurant Group, Inc. reports quarterly revenue of $354.7M, net income of $2.3M, an operating margin of 2.3%. Top institutional holders of FWRG by reported 13-F value include BlackRock, MANUFACTURERS LIFE INSURANCE COMPANY, THE, Bank of New York Mellon, based on the most recent SEC filings. FWRG trades on the Nasdaq exchange and files with the SEC under CIK 1789940. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FWRG daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for First Watch Restaurant Group, Inc. directly from SEC EDGAR. First Watch Restaurant Group, Inc.'s 13F Pro composite quality score has ranged between 40 and 60 since 2022, currently 51.9 — an improving long-term trajectory across 63 quarterly and live scoring snapshots.
Revenue
Q2 2026
$354.7M
Net Income
Q2 2026
$2.3M
Free Cash Flow
Q2 2026
$-13.1M
Operating Margin
Q2 2026
2.3%
ROIC
Q2 2026
3.5%
D/E Ratio
Q2 2026
0.46
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · ProRevenue
+20.3% YoYNet Income
+2.7% YoYOperating Income
-29.3% YoYEPS (Diluted)
+3.3% YoYTotal Assets
+15.0% YoYTotal Debt
+42.4% YoYOp. Cash Flow
+8.9% YoYFree Cash Flow
-153.2% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.22B +20.3% | $1.02B +13.9% | $891.6M +22.1% | $730.2M +21.5% | $601.2M +75.6% | $342.4M |
| Net Income | $19.4M +2.7% | $18.9M -25.4% | $25.4M +267.5% | $6.9M +427.8% | $-2.1M +95.8% | $-49.7M |
| Operating Income | $27.5M -29.3% | $38.9M -5.7% | $41.3M +144.0% | $16.9M -24.0% | $22.2M +147.1% | $-47.2M |
| EPS (Diluted) | $0.31 +3.3% | $0.30 -26.8% | $0.41 +272.7% | $0.11 +375.0% | $-0.04 +56.9% | $-0.09 |
| Total Assets | $1.74B +15.0% | $1.51B +19.5% | $1.27B +14.7% | $1.10B +5.5% | $1.05B +3.9% | $1.01B |
| Total Debt | $282.4M +42.4% | $198.3M +58.1% | $125.4M +24.2% | $100.9M -2.0% | $102.9M -64.5% | $290.0M |
| Operating Cash Flow | $125.9M +8.9% | $115.7M +21.3% | $95.3M +51.5% | $62.9M -0.1% | $63.0M +442.9% | $-18.4M |
| Free Cash Flow | $-31.0M -153.2% | $-12.2M -201.9% | $12.0M +1572.6% | $718.0K -97.4% | $27.7M +161.3% | $-45.1M |
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13F Pro tracks comprehensive data for First Watch Restaurant Group, Inc. including:
Top Institutional Holders of FWRG
BlackRock, Inc.
$58.4M4,534,132 shMANUFACTURERS LIFE INSURANCE COMPANY, THE
$49.3M3,823,982 shBank of New York Mellon Corp
$47.9M3,719,038 shDIMENSIONAL FUND ADVISORS LP
$33.5M2,596,946 shVANGUARD CAPITAL MANAGEMENT LLC
$31.6M2,453,594 shMILLENNIUM MANAGEMENT LLC
$28.3M2,192,811 shNeuberger Berman Group LLC
$26.7M2,069,037 shGW&K Investment Management, LLC
$25.9M2,007,096 shStephens Investment Management Group LLC
$25.2M1,953,921 shHodges Capital Management Inc.
$20.5M1,592,384 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $58.4M | 4,534,132 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $49.3M | 3,823,982 |
| Bank of New York Mellon Corp | $47.9M | 3,719,038 |
| DIMENSIONAL FUND ADVISORS LP | $33.5M | 2,596,946 |
| VANGUARD CAPITAL MANAGEMENT LLC | $31.6M | 2,453,594 |
| MILLENNIUM MANAGEMENT LLC | $28.3M | 2,192,811 |
| Neuberger Berman Group LLC | $26.7M | 2,069,037 |
| GW&K Investment Management, LLC | $25.9M | 2,007,096 |
| Stephens Investment Management Group LLC | $25.2M | 1,953,921 |
| Hodges Capital Management Inc. | $20.5M | 1,592,384 |
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Similarity is computed from the 8 composite sub-scores and latest-quarter 13F conviction holdings (index-style filers excluded). Refreshed monthly.
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Popular Research
Is FWRG a good stock to buy?
13F Pro's AI-powered analysis of First Watch Restaurant Group, Inc. (FWRG) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Consumer Discretionary sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for FWRG are available on the FWRG stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. FWRG is classified as a small company.
Which hedge funds own FWRG?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling FWRG. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of First Watch Restaurant Group, Inc.'s investment landscape.