$10.32
1.10%
NYSE, Sep 17, 10:58 am EDT. Market open.
ISIN
US33748L1017
Symbol
FWRG

First Watch Restaurant Group Target price 2026 - Analyst rating & recommendation

First Watch Restaurant Group Classifications & Recommendation

Buy
94%
Hold
6%

First Watch Restaurant Group Price Target

Target Price $20.40
Price $10.43
Potential
Number of Estimates 13
13 Analysts have issued a price target First Watch Restaurant Group 2027 . The average First Watch Restaurant Group target price is $20.40. This is higher than the current stock price. The highest price target is , the lowest is .
A rating was issued by 17 analysts: 16 Analysts recommend First Watch Restaurant Group to buy, 1 to hold and 0 to sell.
Analysts don't have a crystal ball either, but they do represent the opinion of the market quite well. You should not take the price potential and the ratings as a recommendation to act. Rather, they serve as an additional building block for your own opinion or stock analysis.
Analyst Estimates: Analysts believe that the First Watch Restaurant Group stock has an average upside potential 2027 of . Most analysts recommend the First Watch Restaurant Group stock at Purchase.

Sales and Margin forecast 2026, 2027 to 2033

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Select at least one metric to display the chart.


Quarter Annually
Dec '25 2026
Estimates
Revenue Billion $ 1.22 1.42
20.34% 15.91%
EBITDA Margin 8.90% 9.73%
12.02% 9.29%
Net Margin 1.59% 0.46%
14.70% 71.06%

13 Analysts have issued a sales forecast First Watch Restaurant Group 2026 . The average First Watch Restaurant Group sales estimate is

$1.4b
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. This is
7.51% higher
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than the revenue of the last 12 months(TTM). The highest sales forecast is
$1.5b 10.92%
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, the lowest is
$1.4b 2.96%
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.

This results in the following potential growth metrics:

Revenue Estimates

2025 $1.2b 20.34%
2026
$1.4b 15.91%
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2027
$1.6b 11.50%
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2028
$1.8b 11.08%
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2029
$2.0b 12.65%
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2030
$2.2b 11.73%
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2031
$2.4b 8.51%
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2032
$2.7b 10.68%
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2033
$2.9b 10.33%
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13 Analysts have issued an First Watch Restaurant Group EBITDA forecast 2026. The average First Watch Restaurant Group EBITDA estimate is

$138m
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. This is
18.46% higher
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than the EBITDA of the last 12 months(TTM). The highest EBITDA forecast is
$145m 24.72%
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, the lowest is
$131m 12.57%
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.

This results in the following potential growth metrics and future EBITDA Margins:

EBITDA Estimates

2025 $109m 5.88%
2026
$138m 26.73%
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2027
$160m 16.04%
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2028
$177m 10.32%
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2029
$213m 20.62%
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2030
$243m 14.22%
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2031
$254m 4.50%
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2032
$285m 12.08%
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2033
$319m 12.13%
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EBITDA Margin

2025 8.90% 12.02%
2026
9.73% 9.29%
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2027
10.13% 4.11%
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2028
10.06% 0.69%
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2029
10.77% 7.06%
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2030
11.01% 2.23%
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2031
10.61% 3.63%
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2032
10.74% 1.23%
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2033
10.92% 1.68%
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13 First Watch Restaurant Group Analysts have issued a net profit forecast 2026. The average First Watch Restaurant Group net profit estimate is

$6.6m
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. This is
63.11% lower
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than the net profit for the last 12 months(TTM). The highest net profit forecast is
$9.1m 49.07%
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, the lowest is
$5.4m 69.46%
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.

This results in the following potential growth metrics and future Net Margins:

Net Profit Estimates

2025 $19.4m 2.64%
2026
$6.6m 66.19%
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2027
$15.1m 129.07%
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2028
$21.9m 45.38%
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2029
$23.9m 9.32%
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2030
$30.2m 26.30%
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Net Margin

2025 1.59% 14.70%
2026
0.46% 71.06%
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2027
0.95% 106.52%
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2028
1.25% 31.58%
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2029
1.21% 3.20%
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2030
1.37% 13.22%
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Earnings per share, P/E ratio and EV/sales Estimates 2026, 2027 to 2033

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Select at least one metric to display the chart.


Quarter Annually
Dec '25 2026
Estimates
Earnings Per Share $ 0.31 0.11
3.33% 64.52%
P/E 97.91
EV/Sales 0.65

13 Analysts have issued a First Watch Restaurant Group forecast for earnings per share. The average First Watch Restaurant Group EPS is

$0.11
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. This is
60.71% lower
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than earnings per share in the financial year 2025. The highest EPS forecast is
$0.15 46.43%
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, the lowest is
$0.09 67.86%
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.

This results in the following potential growth metrics and future valuations:

Earnings Per Share

2025 $0.31 3.33%
2026
$0.11 64.52%
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2027
$0.24 118.18%
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2028
$0.35 45.83%
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2029
$0.39 11.43%
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2030
$0.49 25.64%
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P/E ratio

Current 37.25 84.68%
2026
97.91 162.85%
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2027
42.76 56.33%
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2028
29.41 31.22%
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2029
26.91 8.50%
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2030
21.30 20.85%
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Based on analysts' sales estimates for 2026, the First Watch Restaurant Group stock is valued at an EV/Sales of

and an P/S ratio of .

This results in the following potential growth metrics and future valuations:

EV/Sales

Current 0.69 40.52%
2026
0.65 6.35%
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2027
0.58 10.31%
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2028
0.52 9.97%
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2029
0.46 11.23%
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2030
0.41 10.51%
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2031
0.38 7.84%
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2032
0.35 9.63%
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2033
0.31 9.39%
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P/S ratio

Current 0.49 48.04%
2026
0.45 7.00%
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2027
0.41 10.30%
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2028
0.37 9.97%
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2029
0.33 11.23%
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2030
0.29 10.50%
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2031
0.27 7.86%
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2032
0.24 9.65%
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2033
0.22 9.36%
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Current First Watch Restaurant Group Upgrades & Downgrades

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Analyst Rating Action Date
Guggenheim
Locked
Locked
Locked Aug 07 2026
Citigroup
Locked
Locked
Locked Aug 05 2026
Freedom Capital Markets
Locked
Locked
Locked Jul 01 2026
TD Cowen
Locked
Locked
Locked Jun 03 2026
Stephens & Co.
Locked
Locked
Locked May 06 2026
TD Cowen
Locked
Locked
Locked May 05 2026
DA Davidson
Locked
Locked
Locked Apr 28 2026
Analyst Rating Date
Locked
Guggenheim:
Locked
Locked
Aug 07 2026
Locked
Citigroup:
Locked
Locked
Aug 05 2026
Locked
Freedom Capital Markets:
Locked
Locked
Jul 01 2026
Locked
TD Cowen:
Locked
Locked
Jun 03 2026
Locked
Stephens & Co.:
Locked
Locked
May 06 2026
Locked
TD Cowen:
Locked
Locked
May 05 2026
Locked
DA Davidson:
Locked
Locked
Apr 28 2026

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