Financial Snapshot

Revenue
$964.9M
TTM
Gross Margin
63.08%
TTM
Net Earnings
$24.18M
TTM
Current Assets
Q2 2024
Current Liabilities
Q2 2024
Current Ratio
56.72%
Q2 2024
Total Assets
Q2 2024
Total Liabilities
Q2 2024
Book Value
$585.8M
Q2 2024
Cash
Q2 2024
P/E
37.88
Sep 18, 2024 EST
Free Cash Flow
-$16.55M
TTM

Revenues

Revenues

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Revenue YoY Change

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Revenues

Concept 2023 2022 2021 2020 2019 2018
Revenue $891.6M $730.2M $601.2M $342.4M $436.4M $349.8M
YoY Change 22.1% 21.45% 75.59% -21.54% 24.76%

Expenses

Cost Of Revenues

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Gross Profit

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Gross Profit Margin

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Gross Profit

Concept 2023 2022 2021 2020 2019 2018
Revenue $891.6M $730.2M $601.2M $342.4M $436.4M $349.8M
Cost Of Revenue $331.9M $287.0M $229.0M $140.8M $160.1M $125.7M
Gross Profit $559.7M $443.1M $372.1M $201.6M $276.3M $224.1M
Gross Profit Margin 62.78% 60.69% 61.9% 58.89% 63.31% 64.06%

Selling, General & Admin Expense

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Research & Development

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Depreciation, Depletion & Amortization

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SGA Expense to Gross Profit Ratio

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R&D To Gross Profit Ratio

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DDA To Gross Profit Ratio

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Operating Expenses Total

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Operating Profits/Loss

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Operational Expenses

Concept 2023 2022 2021 2020 2019 2018
Selling, General & Admin $470.1M $385.4M $315.3M $213.4M $239.1M $190.8M
YoY Change 21.97% 22.24% 47.77% -10.76% 25.33%
% of Gross Profit 83.99% 86.97% 84.72% 105.82% 86.54% 85.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.70M $33.30M $31.30M $29.60M $25.90M $26.12M
YoY Change 19.22% 6.39% 5.74% 14.29% -0.86%
% of Gross Profit 7.09% 7.51% 8.41% 14.68% 9.37% 11.66%
Operating Expenses $511.3M $419.6M $347.7M $244.1M $267.1M $216.9M
YoY Change 21.85% 20.7% 42.43% -8.62% 23.16%
Operating Profit $41.27M $16.91M $22.24M -$47.22M -$37.56M $7.170M
YoY Change 144.0% -23.96% -147.1% 25.74% -623.79%

Interest Expenses

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Interest Expenses To Operating Income %

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Other Expense/Income

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Interest & Other Expense/Income

Concept 2023 2022 2021 2020 2019 2018
Interest Expense $8.063M $5.232M $20.10M $22.82M $20.08M -$16.48M
YoY Change 54.11% -73.97% -11.9% 13.62% -221.84%
% of Operating Profit 19.54% 30.93% 90.36% -229.85%
Other Income/Expense, Net $2.871M $910.0K -$1.774M $483.0K -$255.0K $724.0K
YoY Change 215.49% -151.3% -467.29% -289.41% -135.22%

Income/Loss

Pretax Income

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Income Tax

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Net Profits/Loss

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Pretax Income YoY Change

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Income Tax Rate

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Net Profits/Loss YoY Change

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Basic EPS

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Net Income To Revenue Ratio

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Pretax & Net Income

Concept 2023 2022 2021 2020 2019 2018
Pretax Income $36.08M $12.59M $370.0K -$69.55M -$57.89M -$12.52M
YoY Change 186.51% 3302.97% -100.53% 20.15% 362.28%
Income Tax $10.69M $5.684M $2.477M -$19.87M -$12.42M -$221.0K
% Of Pretax Income 29.63% 45.14% 669.46%
Net Earnings $25.39M $6.907M -$2.107M -$49.68M -$45.44M -$12.30M
YoY Change 267.53% -427.81% -95.76% 9.34% 269.54%
Net Earnings / Revenue 2.85% 0.95% -0.35% -14.51% -10.41% -3.52%
Basic Earnings Per Share $0.43 $0.12 -$0.04 -$1.10 -$1.01
Diluted Earnings Per Share $0.41 $0.11 -$0.04 -$1.10 -$1.01 -$208.2K

Assets & Liabilities

Cash & Short-Term Investments

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Cash & Equivalents

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Cash To Operating Expenses Ratio

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Inventory

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Receivables

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Total Short-Term Assets

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Property, Plant And Equipment

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Long-Term Investments

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Total Long-Term Assets

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Total Assets

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Net Income To Total Assets Percentage

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Accounts Payable

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Short-Term Debt

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Long Term Debt Due

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Total Short-Term Liabilities

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Long-Term Debt

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Other Long-Term Liabilities

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Total Long-Term Liabilities

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Total Liabilities

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Short-Term To Long-Term Debt Ratio

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Short-Term Assets To Debt Ratio

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Long-Term Debt To Net Income Ratio

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Assets & Liabilities

Concept 2023 2022 2021 2020 2019 2018
Cash & Short-Term Investments $49.63M $49.67M $51.86M $38.85M $11.12M $16.28M
YoY Change -0.08% -4.23% 33.51% 249.3% -31.71%
Cash & Equivalents $49.63M $49.67M $51.86M $38.85M $11.12M $16.28M
Short-Term Investments
Other Short-Term Assets $10.65M $6.424M $7.360M $3.362M $4.669M $5.824M
YoY Change 65.71% -12.72% 118.92% -27.99% -19.83%
Inventory $5.381M $5.028M $4.023M $2.915M $2.711M $2.138M
Prepaid Expenses
Receivables $5.532M $6.164M $4.450M $3.915M $5.741M $5.197M
Other Receivables $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Total Short-Term Assets $71.19M $67.29M $67.70M $49.04M $24.24M $29.44M
YoY Change 5.8% -0.6% 38.05% 102.29% -17.66%
Property, Plant & Equipment $683.1M $547.5M $489.7M $468.3M $466.8M $124.8M
YoY Change 24.77% 11.8% 4.57% 0.31% 274.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.703M $1.298M $1.311M $1.291M $1.214M $1.229M
YoY Change 31.2% -0.99% 1.55% 6.34% -1.22%
Total Long-Term Assets $1.196B $1.037B $979.2M $958.5M $957.8M $635.1M
YoY Change 15.3% 5.92% 2.16% 0.07% 50.82%
Total Assets $1.267B $1.104B $1.047B $1.008B $982.1M $664.5M
YoY Change
Accounts Payable $6.324M $7.590M $11.06M $4.220M $5.086M $5.559M
YoY Change -16.68% -31.37% 162.09% -17.03% -8.51%
Accrued Expenses $97.62M $79.56M $74.63M $64.45M $57.84M $24.28M
YoY Change 22.7% 6.61% 15.8% 11.43% 138.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $1.376M $2.352M $0.00 $0.00 $0.00
YoY Change -100.0% -41.5%
Long-Term Debt Due $5.628M $6.257M $3.186M $3.590M $2.972M $1.898M
YoY Change -10.05% 96.39% -11.25% 20.79% 56.59%
Total Short-Term Liabilities $115.1M $99.98M $96.52M $76.53M $73.02M $36.90M
YoY Change 15.1% 3.58% 26.12% 4.81% 97.86%
Long-Term Debt $119.8M $94.67M $99.75M $286.4M $250.4M $193.1M
YoY Change 26.51% -5.1% -65.17% 14.38% 29.64%
Other Long-Term Liabilities $445.6M $369.5M $333.7M $310.1M $298.6M $16.93M
YoY Change 20.59% 10.72% 7.63% 3.85% 1663.94%
Total Long-Term Liabilities $565.4M $464.2M $433.5M $596.5M $549.0M $210.1M
YoY Change 21.8% 7.08% -27.33% 8.65% 161.32%
Total Liabilities $705.8M $581.3M $542.5M $686.6M $652.3M $290.1M
YoY Change 21.41% 7.16% -20.99% 5.27% 124.86%

Ownership

Basic Shares Outstanding

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Diluted Shares Outstanding

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Preferred Stock

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Treasury Stock Shares

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Stock Issuance & Repurchase

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Ownership Data

Concept 2023 2022 2021 2020 2019 2018
Basic Shares Outstanding 59.53M shares 59.10M shares 48.21M shares 45.01M shares 45.01M shares
Diluted Shares Outstanding 61.19M shares 60.14M shares 48.21M shares 45.01M shares 45.01M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

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Book Value

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Free Cash Flow

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Free Cash Flow YoY

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Dividends

Dividends

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Stock Price

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Market Cap: $915.89 Million

About First Watch Restaurant Group Inc

First Watch Restaurant Group, Inc. owns and operates restaurants. The company is headquartered in Bradenton, Florida and currently employs 14,000 full-time employees. The company went IPO on 2021-10-01. The firm is engaged in serving made-to-order breakfast, brunch and lunch using fresh ingredients. The Company’s menu includes elevated executions of classic favorites along with its specialties, such as Quinoa Power Bowl, Farm Stand Breakfast Tacos, Avocado Toast, Chickichanga, Morning Meditation (juiced in-house daily), Spiked Lavender Lemonade and Million Dollar Bacon. The firm operates approximately 520 First Watch restaurants in 29 states. The firm uses a variety of marketing channels, including affiliate partnerships, social media interactions, digital marketing, direct mailers, public relations initiatives and local community sponsorships, email communications, promotions, and partnerships. The company also owns the franchise-owned restaurant in Broken Arrow, Okla.

Industry: Retail-Eating Places Peers: Denny's Corp BJ's Restaurants Inc Brinker International Inc Cheesecake Factory Inc Dave & Buster's Entertainment Inc Dine Brands Global Inc Jack in the Box Inc Kura Sushi USA Inc McDonald's Corp Ruths Hospitality Group, Inc.