First Watch Restaurant Group Stock

First Watch Restaurant Group EV/EBIT

The EV/EBIT (Enterprise Value to EBIT) of First Watch Restaurant Group (FWRG) as of Aug 6, 2026 is 27.78. In the previous year, EV/EBIT (Enterprise Value to EBIT) was 24.11 — a change of 15.21% (higher).

EV/EBIT

27.78

YoY

15.21%

Last updated:

EV/EBIT (Enterprise Value to EBIT) of First Watch Restaurant Group is 2026 27.78 . EV/EBIT (Enterprise Value to EBIT) of First Watch Restaurant Group was 2025 24.11 . It decreases by 15.21% higher compared to the previous year.

The First Watch Restaurant Group EV/EBIT history

  • 3 Years

  • 10 Years

  • 25 Years

  • Max

PRICE-TO-EBIT
Date
PRICE-TO-EBIT
Jan 1, 2019
0.00 base
Jan 1, 2020
0.00 base
Jan 1, 2021
47.34 base
Jan 1, 2022
47.35 base
Jan 1, 2023
30.12 base
Jan 1, 2024
29.82 base
Jan 1, 2025
28.06 base
Jan 1, 2026 (e)
16.88 base
YEARPRICE-TO-EBIT
2026 est 16.88
2025 28.06
2024 29.82
2023 30.12
2022 47.35
2021 47.34
2020 -
2019 -
2018 -
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First Watch Restaurant Group Valuation

Details

Historical Valuation Multiples

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Price-to-Earnings Ratio (P/E)

The P/E ratio divides First Watch Restaurant Group's share price by its earnings per share. It tells you how many years of current earnings you are "paying for" when you buy the stock. A P/E of 20 means you pay $20 for every $1 of annual earnings. The S&P 500 historically trades at an average P/E of roughly 15–17. A P/E significantly above that may signal high growth expectations; one below may indicate undervaluation — or declining business quality.

Price-to-Sales Ratio (P/S)

The P/S ratio divides market capitalization by total revenue. Unlike the P/E ratio, it works even for companies that are not yet profitable, making it essential for evaluating high-growth firms. A P/S below 1.0 may indicate undervaluation, while ratios above 10 are typically reserved for fast-growing tech or SaaS companies with high expected future margins.

Price-to-EBIT Ratio

This ratio relates First Watch Restaurant Group's market price to its operating earnings, excluding the effects of debt structure and tax jurisdiction. It is particularly useful for comparing companies across different countries or with different levels of leverage, because it focuses purely on operational profitability. Lower values suggest cheaper operational earnings.

How to Use This Chart

This chart plots First Watch Restaurant Group's valuation multiples over time. Compare the current P/E, P/S, and P/EBIT to their own historical averages — if the current ratio is well below the multi-year average, the stock may be relatively cheap compared to its own track record. Combine this with industry comparisons: a P/E that looks high in absolute terms may be justified if First Watch Restaurant Group grows earnings faster than its peers.

First Watch Restaurant Group Stock analysis

What does First Watch Restaurant Group do? The First Watch Restaurant Group Inc is a US-American company specializing in the production of breakfast and brunch dishes. It was founded in 1983 by Ken Pendrey in Pacific Grove, California. Originally conceived as a franchise concept, First Watch was acquired by a group of investors in 1993. First Watch's business model is based on providing fresh, high-quality ingredients and preparing healthy dishes. The company offers a wide range of dishes, from various egg dishes to homemade pancakes, sandwiches, and salads. The First Watch Restaurant Group Inc operates different franchise concepts, including First Watch, The Egg & I, The Good Egg, and Bread & Company. Each concept is designed to meet the needs of customers in different markets. In the US, the company currently operates approximately 410 locations in 29 states. First Watch is known for its huge selection of house specialties, such as the "Floridian French Toast," served with fresh banana and strawberry puree, pecans, and powdered sugar. Another popular dish is the "A.M. Superfoods Bowl," prepared with fresh avocado, quinoa, eggs, tomatoes, and fresh spinach. These dishes are complemented by seasonal menu offerings based on fresh, seasonal ingredients. The Egg & I menu is designed to offer guests a cozy breakfast experience with special omelets, waffles, and toasts. The concept is also known for its Impossible Omelet, an option with 14 eggs and a variety of ingredients. The Good Egg distinguishes itself from the other concepts by specializing in health-conscious options, such as gluten-free and vegan dishes, as well as various egg dishes. Bread & Company, on the other hand, is a bakery concept that indulges guests with freshly baked bread, bagels, and pastries. This concept has been widespread in the US since 1992. Overall, First Watch is committed to providing guests with a unique experience through fresh ingredients, friendly staff, and a relaxed atmosphere. The company works with the best suppliers to obtain seasonal local ingredients, and both this and fair treatment of employees are very important to the company. For example, the company provides free meals for its employees and offers health courses to promote a healthy lifestyle and work environment. Overall, the First Watch Restaurant Group Inc offers a fresh, innovative approach to the breakfast and brunch segment and operates different concepts that specifically cater to the needs of customers in various markets. The company has made a name for itself in the US and is highly popular among guests due to its high-quality food and unique experiences. First Watch Restaurant Group is one of the most popular companies on Eulerpool.

Frequently Asked Questions about First Watch Restaurant Group stock

EV/EBIT (Enterprise Value to EBIT) of First Watch Restaurant Group is 27.78 in 2026.

EV/EBIT (Enterprise Value to EBIT) of First Watch Restaurant Group changed from 24.11 to 27.78, representing a 15.21% change. The value is higher than the previous year.

On Eulerpool you can find the complete historical development of EV/EBIT (Enterprise Value to EBIT) First Watch Restaurant Group since 2006 – with annual values, charts, and detailed analysis.

The EV/EBIT ratio measures a company's enterprise value relative to its operating earnings. It accounts for debt, making it useful for comparing companies with different capital structures.

EV/EBIT = Enterprise Value / Earnings Before Interest and Taxes

To evaluate EV/EBIT (Enterprise Value to EBIT)'s, it is essential to compare it with peers in the same industry and sector. On Eulerpool, you can find direct industry comparisons for EV/EBIT (Enterprise Value to EBIT).

A 'good' varies by industry and company stage. On Eulerpool, you can compare EV/EBIT (Enterprise Value to EBIT)'s First Watch Restaurant Group with sector peers and the industry average to assess whether it is attractive.

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Valuation — First Watch Restaurant Group

P/EP/SEV/EBITP/BP/CFP/FCFPEGEV/RevenueEV/EBITDAEV/FCFEarnings YieldFCF YieldMarket capitalizationEnterprise ValueEV/EBITForward P/EP/TBVShareholder YieldBuyback YieldDiv.-Adj. PEGEV/OCF

All Key Metrics — First Watch Restaurant Group