FWRG Stock — First Watch Restaurant Group, Inc.

First Watch Restaurant Group, Inc. (FWRG)

Updated October 16, 2026.

FWRG is a Stock. Total return is -45.2% over the past 5 years, 133.1 points behind SPY at 87.9%.

First Watch Restaurant Group operates and franchises restaurants under the First Watch brand across the United States, with locations focused on breakfast, brunch, and lunch dining. The company does not currently distribute dividends to shareholders. This equity security appeals to investors seeking exposure to the casual dining sector without reliance on dividend income.

FWRG performance versus SPY

Price and return data through 2026-10-16.

Total return is -45.2% over the past 5 years, 133.1 points behind SPY at 87.9%. Over the past year its total return — price change plus distributions reinvested — is -31.1%. Its deepest 1-year drawdown was 45.8%.

FWRG key facts

Asset type

Stock

Asset class

Equity

Inception date

10/01/2021

Distribution frequency

None

Last close

$12.12 (as of 2026-10-16)

Market cap

$747,954,712

Average volume

1849064.0

Beta

1.053

Payout ratio

0.0%

P/E ratio

43.29

Forward P/E

63.6943

EPS

$0.28

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

FWRG risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 45.8%.

Who may consider FWRG — and who may not

It is a weaker fit for investors who need monthly cash flow (FWRG does not currently distribute); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on FWRG

• All tickers starting with F

Tagged: Consumer Discretionary.

Frequently asked questions