Stocktoria
First Watch Restaurant Group, Inc. FWRG
Nasdaq · XNAS · stock · Retail-Eating Places · website · IPO 2021-10-01
Chart by TradingView
4/9
Piotroski F — financial health
0.19
Altman Z″ — distress risk · distress
—
Dividend payout · no dividend
Financials & ratios (annual, from 10-K)
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Financials | |||||
| Revenue | $1.2B | $1.0B | $891.6M | $730.2M | $601.2M |
| Operating income | $27.5M | $38.9M | $41.3M | $16.9M | $22.2M |
| Net income | $19.4M | $18.9M | $25.4M | $6.9M | -$2.1M |
| Operating cash flow | $125.9M | $115.7M | $95.3M | $62.9M | $63.0M |
| Free cash flow | -$31.0M | -$12.2M | $12.0M | $718,000 | $27.7M |
| Total assets | $1.7B | $1.5B | $1.3B | $1.1B | $1.0B |
| Total liabilities | $1.1B | $919.0M | $705.8M | $581.3M | $542.5M |
| Shareholders' equity | $626.3M | $595.4M | $561.3M | $523.1M | $504.4M |
| Ratios | |||||
| Operating margin | 2.3% | 3.8% | 4.6% | 2.3% | 3.7% |
| Net margin | 1.6% | 1.9% | 2.8% | 0.9% | -0.4% |
| FCF margin | -2.5% | -1.2% | 1.3% | 0.1% | 4.6% |
| Return on assets | 1.1% | 1.2% | 2.0% | 0.6% | -0.2% |
| Return on equity | 3.1% | 3.2% | 4.5% | 1.3% | -0.4% |
| Current ratio | 0.29 | 0.40 | 0.62 | 0.67 | 0.70 |
| Revenue growth | 20.3% | 13.9% | 22.1% | 21.5% | 75.6% |
Why these scores methodology →
Piotroski F-score: 4/9
- Positive return on assets
- Positive operating cash flow
- Rising ROA
- Cash flow exceeds net income
- Lower long-term debt
- Rising current ratio
- No share dilution
- Rising gross margin
- Rising asset turnover
Altman Z″: 0.19 (distress)
- Working capital / assets -0.068
- Retained earnings / assets -0.02
- EBIT / assets 0.016
- Equity / liabilities 0.561
Sector peers
WMT · CVS · COST · JD · HD · KR · all Retail Trade →
Source: SEC EDGAR filings · CIK 0001789940 · as of 2025-12-28. Figures are facts from filings plus Stocktoria's own computed scores — not investment advice.