First Watch Restaurant Group, Inc.
PosiFunda Ratios Only on PositoAI
PositoAI's own ratios from First Watch Restaurant Group, Inc.'s yearly results (2022–2025), compared with Consumer Cyclical companies in United States. Tap ? on any ratio for what it means.
What stands out
- Profit Cash Ratio: Over the last 3 years, every $100 of reported profit came with $529 of operating cash. Higher than 98% of Consumer Cyclical companies in United States.
- Cash Locked Ratio: Money owed to suppliers is larger than money owed by customers plus stock: $0 per $100 of sales comes from others' credit, against $0 from others' credit three years earlier. Less money tied up than 85% of Consumer Cyclical companies in United States.
Where $100 of sales goes
Latest year (Dec 2025). Taxes and other income are not shown, so the parts need not add up to 100.
Cash quality
Profit Cash Ratio
$529Over the last 3 years, every $100 of reported profit came with $529 of operating cash.
Higher than 98% of Consumer Cyclical companies in United States.
Self-Funding Ratio
0.9×Over the last 3 years its own operating cash paid for 91% of its investment spending (capex); the rest came from other sources such as borrowing, cash reserves or new shares.
Lower than 75% of Consumer Cyclical companies in United States.
Cash Locked Ratio
−$0Money owed to suppliers is larger than money owed by customers plus stock: $0 per $100 of sales comes from others' credit, against $0 from others' credit three years earlier.
Less money tied up than 85% of Consumer Cyclical companies in United States.
Growth quality
Steadiness Ratio
3/3 · 2/3Sales grew in 3 of the last 3 years; profit grew in 2 of 3.
Steadier than 84% of Consumer Cyclical companies in United States.
Growth Efficiency Ratio
$3Sales grew 67% in 3 years; of every extra $100 of sales, $3 became extra profit.
Lower than 54% of Consumer Cyclical companies in United States.
Asset Productivity Ratio
+67% / +58%In 3 years sales changed by +67% while total assets changed by +58%. Sales grew faster than assets.
Balance-sheet strength
Debt Due Cover Ratio
9.5×Debt due within a year is covered 9.5 times by its yearly operating cash.
Higher than 73% of Consumer Cyclical companies in United States.
Cash Cushion Ratio
1.5× debtDebt, after subtracting cash, is 1.5 times its market value (net debt).
Lower than 81% of Consumer Cyclical companies in United States.
Tangible Assets Ratio
66%Of every $100 the company owns, $66 is in tangible assets such as plants, cash, stock and receivables; the rest is goodwill and other intangibles.
Less tangible than 77% of Consumer Cyclical companies in United States.
Tangible Net Worth Ratio
5%Of every $100 of net worth, $5 is tangible; the rest is goodwill and other intangibles, often from buying other companies.
Less tangible than 67% of Consumer Cyclical companies in United States.
Shareholders
Standard fundamentals
P/E, P/B, ROE, debt, growth and more (14)
First Watch Restaurant Group, Inc. owes $0.65 for every $1 it owns. Net profit rose 3% in the year to Dec 2025, and grew 41% a year on average over 3 years.
Compared with Consumer Cyclical companies in United States · latest annual results Dec 2025.
P/E ratio
38.9Investors pay $38.9 for every $1 of First Watch Restaurant Group, Inc.'s yearly profit, higher than 84% of Consumer Cyclical companies in United States.
P/B ratio
1.06The share price is 1.06 times First Watch Restaurant Group, Inc.'s book value per share, lower than 73% of Consumer Cyclical companies in United States.
Market cap
$672 MThe total market value of all of First Watch Restaurant Group, Inc.'s shares at today's price (share price × number of shares), smaller than 59% of Consumer Cyclical companies in United States. PosiCap size class: Mini Cap.
Net worth (book value)
$634 MWhat First Watch Restaurant Group, Inc. would have left on paper if it sold everything it owns and paid everything it owes, from its latest balance sheet (30 Jun 2026).
Book value per share
$10.28Net worth divided by the number of shares. The share price of $10.89 is 1.1 times this, which is the P/B above.
Return on equity (ROE)
2.9%First Watch Restaurant Group, Inc. earned 2.9% on its shareholders' money over the last year, lower than 61% of Consumer Cyclical companies in United States.
Owes vs Owns
0.65×First Watch Restaurant Group, Inc. owes $0.65 for every $1 it owns (moderate), higher than 50% of Consumer Cyclical companies in United States.
Dividend yield
NoneFirst Watch Restaurant Group, Inc. does not currently pay a dividend.
Revenue growth
+20%Revenue rose 20% in the year to Dec 2025, and grew 19% a year on average over 3 years.
Profit growth
+3%Net profit rose 3% in the year to Dec 2025, and grew 41% a year on average over 3 years.
Profit margin
1.6%First Watch Restaurant Group, Inc. keeps $2 of every $100 of revenue as net profit.
Cash quality
6.5×Cash from First Watch Restaurant Group, Inc.'s business was 6.5× its reported profit in the year to Dec 2025 — its profit turned into cash.
Interest cover
1.8×First Watch Restaurant Group, Inc.'s operating profit covered its interest costs 1.8 times in the year to Dec 2025.
Cash vs debt
Net debtFirst Watch Restaurant Group, Inc. had $987 M more debt than cash (net debt) at Dec 2025.
Questions
What is First Watch Restaurant Group, Inc.'s P/E ratio?
Investors pay $38.9 for every $1 of First Watch Restaurant Group, Inc.'s yearly profit, higher than 84% of Consumer Cyclical companies in United States.
How is P/B calculated on PositoAI?
P/B is market cap divided by net worth from the latest balance sheet. For First Watch Restaurant Group, Inc.: $672 M ÷ $634 M (30 Jun 2026) = 1.1.
What is First Watch Restaurant Group, Inc.'s return on equity?
First Watch Restaurant Group, Inc. earned 2.9% on its shareholders' money over the last year, lower than 61% of Consumer Cyclical companies in United States.
How much does First Watch Restaurant Group, Inc. owe compared with what it owns?
First Watch Restaurant Group, Inc. owes $0.65 for every $1 it owns (moderate), higher than 50% of Consumer Cyclical companies in United States.
Does First Watch Restaurant Group, Inc. pay a dividend?
No. First Watch Restaurant Group, Inc. does not currently pay a dividend.
Is First Watch Restaurant Group, Inc.'s revenue growing?
Revenue rose 20% in the year to Dec 2025, and grew 19% a year on average over 3 years.
Figures from the company's yearly results and PositoAI's own data. Full tables are on the Go Deep tab. What each figure means. PositoAI is for research and education only and is not investment advice.