First Watch Restaurant Group, Inc. (FWRG) P/E Ratio History
Deep ValueTrading at 41.7x · 6th percentile of 5-year range · Significant discount to historical valuation · Data 2022–2026
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P/E Ratio Analysis
As of July 6, 2026, First Watch Restaurant Group, Inc. (FWRG) trades at a price-to-earnings ratio of 41.7x, with a stock price of $12.93 and trailing twelve-month earnings per share of $0.29.
The current P/E is 63% below its 5-year average of 111.9x. Over the past five years, FWRG's P/E has ranged from a low of 37.2x to a high of 285.6x, placing the current valuation at the 6th percentile of its historical range.
Compared to the Consumer Cyclical sector median P/E of 21.5x, FWRG trades at a 94% premium to its sector peers. The sector includes 309 companies with P/E ratios ranging from 0.1x to 184.9x.
Relative to the broader market, FWRG commands a significant premium over the S&P 500 median P/E of 25.6x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our FWRG DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
FWRG Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
FWRG P/E vs Peers
Casual and Family Dining Chains peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $322M | 15.2Lowest | - | +17% | |
| $1B | 24.5 | - | +13% | |
| $1B | 27.4 | - | +209%Best | |
| $4B | 25.0 | - | -4% | |
| $23B | 19.6 | 1.16 | +17% | |
| $684M | 127.2 | - | +104% | |
| $8B | 21.2 | 0.31Best | +145% | |
| $12B | 30.5 | 0.45 | -6% | |
| $341M | 17.5 | - | -41% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
FWRG Historical P/E Data (2022–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | Mar 29 2026 | $10.31 | $0.28 | 37.2x | -67% |
| FY2025 Q4 | Dec 28 2025 | $15.91 | $0.31 | 51.7x | -54% |
| FY2025 Q3 | Sep 28 2025 | $16.00 | $0.08 | 206.2x | +84% |
| FY2025 Q2 | Jun 29 2025 | $16.11 | $0.06 | 268.5x | +140% |
| FY2025 Q1 | Mar 30 2025 | $16.86 | $0.17 | 101.3x | -9% |
| FY2024 Q4 | - | $18.61 | $0.30 | 62.0x | -45% |
| FY2024 Q3 | Sep 29 2024 | $15.74 | $0.33 | 47.3x | -58% |
| FY2024 Q2 | Jun 30 2024 | $17.56 | $0.39 | 44.7x | -60% |
| FY2024 Q1 | Mar 31 2024 | $24.62 | $0.38 | 64.3x | -43% |
| FY2023 Q4 | Dec 31 2023 | $20.10 | $0.41 | 48.7x | -56% |
| FY2023 Q3 | Sep 24 2023 | $17.90 | $0.36 | 49.5x | -56% |
| FY2023 Q2 | Jun 25 2023 | $16.10 | $0.27 | 59.1x | -47% |
| FY2023 Q1 | Mar 26 2023 | $15.35 | $0.19 | 79.7x | -29% |
| FY2022 Q4 | Dec 31 2022 | $13.53 | $0.12 | 110.4x | -1% |
| FY2022 Q3 | Sep 25 2022 | $14.51 | $0.05 | 285.6x | +155% |
| FY2022 Q2 | Jun 26 2022 | $14.50 | $0.06 | 228.0x | +104% |
| FY2022 Q1 | Mar 27 2022 | $12.58 | $0.08 | 158.0x | +41% |
Average P/E for displayed period: 111.9x
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
4+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
FWRG — Frequently Asked Questions
Quick answers to the most common questions about buying FWRG stock.
What is FWRG's P/E ratio?
First Watch Restaurant Group, Inc. (FWRG) trailing twelve-month P/E ratio is 41.7x, based on TTM diluted EPS of $0.29. The 5-year average P/E is 111.9x and the historical range spans 37.2x to 285.6x.
Is FWRG stock overvalued or undervalued?
FWRG trades at 41.7x P/E, below its 5-year average of 111.9x. At the 6th percentile of its historical range (37.2x–285.6x), the stock is priced at a discount to its own history.
Is FWRG stock expensive?
No, FWRG is not expensive on a historical basis. The current P/E of 41.7x is below the 5-year average of 111.9x and sits at the 6th percentile of its valuation range.
What is FWRG's historical P/E range?
Over the past 5 years, FWRG's P/E ratio has ranged from 37.2x to 285.6x, with a median of 64.3x and an average of 111.9x. The current P/E of 41.7x places the stock at the 6th percentile of this range. Full historical data spans 2022–2026.
How does FWRG's P/E compare to the S&P 500?
FWRG trades at 41.7x P/E versus the S&P 500 median of 25.6x. The 63% premium to the market typically reflects higher expected earnings growth or quality.
How does FWRG's valuation compare to Consumer Cyclical peers?
First Watch Restaurant Group, Inc. P/E of 41.7x compares to the Consumer Cyclical sector median of 21.5x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is FWRG's PEG ratio?
FWRG PEG ratio is N/A, based on a P/E of 41.7x and EPS growth of 3.3%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is FWRG's earnings yield?
FWRG earnings yield is 2.40%, the inverse of its 41.7x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.