$18.63
5.85% day before yesterday
NYSE, Aug 22, 10:00 pm CET
ISIN
US33748L1017
Symbol
FWRG

First Watch Restaurant Group Target price 2025 - Analyst rating & recommendation

First Watch Restaurant Group Classifications & Recommendation:

Buy
88%
Hold
12%

First Watch Restaurant Group Price Target

Target Price $22.44
Price $18.63
Potential
Number of Estimates 13
13 Analysts have issued a price target First Watch Restaurant Group 2026 . The average First Watch Restaurant Group target price is $22.44. This is higher than the current stock price. The highest price target is , the lowest is .
A rating was issued by 17 analysts: 15 Analysts recommend First Watch Restaurant Group to buy, 2 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 2026 of . Most analysts recommend the First Watch Restaurant Group stock at Purchase.

Sales and Margin forecast 2025, 2026 to 2032

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Quarter Annually
Dec '24 2025
Estimates
Revenue Billion $ 1.02 1.24
13.95% 21.66%
EBITDA Margin 10.12% 9.46%
0.65% 6.51%
Net Margin 1.86% 0.81%
34.57% 56.53%

13 Analysts have issued a sales forecast First Watch Restaurant Group 2025 . The average First Watch Restaurant Group sales estimate is

$1.2b
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. This is
11.85% higher
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than the revenue of the last 12 months(TTM). The highest sales forecast is
$1.3b 16.65%
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, the lowest is
$1.2b 4.97%
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.

This results in the following potential growth metrics:

Revenue Estimates

2024 $1.0b 13.95%
2025
$1.2b 21.66%
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2026
$1.4b 16.02%
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2027
$1.6b 12.69%
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2028
$1.8b 11.45%
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2029
$2.0b 12.55%
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2030
$2.3b 12.09%
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2031
$2.3b 3.39%
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2032
$2.6b 10.69%
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13 Analysts have issued an First Watch Restaurant Group EBITDA forecast 2025. The average First Watch Restaurant Group EBITDA estimate is

$117m
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. This is
27.36% higher
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than the EBITDA of the last 12 months(TTM). The highest EBITDA forecast is
$122m 32.80%
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, the lowest is
$109m 19.25%
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.

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

EBITDA Estimates

2024 $103m 14.69%
2025
$117m 13.74%
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2026
$143m 22.60%
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2027
$165m 15.31%
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2028
$190m 15.14%
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2029
$219m 14.85%
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2030
$249m 14.06%
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2031
$270m 8.17%
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2032
$302m 12.01%
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EBITDA Margin

2024 10.12% 0.65%
2025
9.46% 6.51%
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2026
10.00% 5.71%
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2027
10.23% 2.30%
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2028
10.57% 3.32%
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2029
10.78% 1.99%
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2030
10.97% 1.76%
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2031
11.48% 4.65%
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2032
11.62% 1.22%
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13 First Watch Restaurant Group Analysts have issued a net profit forecast 2025. The average First Watch Restaurant Group net profit estimate is

$10.0m
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. This is
144.74% higher
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than the net profit for the last 12 months(TTM). The highest net profit forecast is
$12.8m 213.20%
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, the lowest is
$7.8m 89.98%
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.

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

Net Profit Estimates

2024 $18.9m 25.44%
2025
$10.0m 47.12%
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2026
$21.6m 115.38%
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2027
$26.6m 23.42%
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2028
$34.9m 30.97%
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2029
$43.6m 25.02%
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2030
$54.2m 24.28%
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Net Margin

2024 1.86% 34.57%
2025
0.81% 56.53%
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2026
1.50% 85.19%
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2027
1.65% 10.00%
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2028
1.94% 17.58%
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2029
2.15% 10.82%
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2030
2.38% 10.70%
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Earnings per share, P/E ratio and EV/sales Estimates 2025, 2026 to 2032

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Quarter Annually
Dec '24 2025
Estimates
Earnings Per Share $ 0.30 0.16
26.83% 46.67%
P/E 113.60
EV/Sales 1.12

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

$0.16
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. This is
128.57% higher
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than earnings per share in the financial year 2024. The highest EPS forecast is
$0.21 200.00%
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, the lowest is
$0.13 85.71%
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.

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

Earnings Per Share

2024 $0.30 26.83%
2025
$0.16 46.67%
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2026
$0.35 118.75%
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2027
$0.44 25.71%
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2028
$0.57 29.55%
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2029
$0.71 24.56%
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2030
$0.89 25.35%
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P/E ratio

Current 266.14 528.30%
2025
113.60 57.32%
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2026
52.74 53.57%
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2027
42.72 19.00%
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2028
32.62 23.64%
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2029
26.09 20.02%
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2030
20.99 19.55%
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Based on analysts' sales estimates for 2025, 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 1.25 5.04%
2025
1.12 10.71%
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2026
0.96 13.81%
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2027
0.85 11.26%
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2028
0.77 10.27%
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2029
0.68 11.15%
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2030
0.61 10.78%
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2031
0.59 3.28%
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2032
0.53 9.65%
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P/S ratio

Current 1.03 0.54%
2025
0.92 10.59%
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2026
0.79 13.81%
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2027
0.70 11.26%
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2028
0.63 10.28%
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2029
0.56 11.14%
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2030
0.50 10.79%
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2031
0.48 3.28%
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2032
0.44 9.65%
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Current First Watch Restaurant Group Upgrades & Downgrades

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Analyst Rating Action Date
Benchmark
Locked
Locked
Locked Aug 06 2025
Stephens & Co.
Locked
Locked
Locked Aug 06 2025
TD Cowen
Locked
Locked
Locked Jul 29 2025
B of A Securities
Locked
Locked
Locked Jul 18 2025
Barclays
Locked
Locked
Locked Jul 17 2025
Raymond James
Locked
Locked
Locked Jul 17 2025
TD Securities
Locked
Locked
Locked Jun 04 2025
Analyst Rating Date
Locked
Benchmark:
Locked
Locked
Aug 06 2025
Locked
Stephens & Co.:
Locked
Locked
Aug 06 2025
Locked
TD Cowen:
Locked
Locked
Jul 29 2025
Locked
B of A Securities:
Locked
Locked
Jul 18 2025
Locked
Barclays:
Locked
Locked
Jul 17 2025
Locked
Raymond James:
Locked
Locked
Jul 17 2025
Locked
TD Securities:
Locked
Locked
Jun 04 2025

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