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First Watch Restaurant Group (First Watch Restaurant Group) EBIT : $40.9 Mil (TTM As of Mar. 2024)


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What is First Watch Restaurant Group EBIT?

First Watch Restaurant Group's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2024 was $12.6 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2024 was $40.9 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. First Watch Restaurant Group's annualized ROC % for the quarter that ended in Mar. 2024 was 2.95%. First Watch Restaurant Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 7.30%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. First Watch Restaurant Group's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 2.32%.


First Watch Restaurant Group EBIT Historical Data

The historical data trend for First Watch Restaurant Group's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

First Watch Restaurant Group EBIT Chart

First Watch Restaurant Group Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23
EBIT
-37.81 -46.74 20.47 17.82 44.14

First Watch Restaurant Group Quarterly Data
Dec19 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 15.83 12.03 8.51 7.78 12.61

Competitive Comparison of First Watch Restaurant Group's EBIT

For the Restaurants subindustry, First Watch Restaurant Group's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


First Watch Restaurant Group's EV-to-EBIT Distribution in the Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, First Watch Restaurant Group's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where First Watch Restaurant Group's EV-to-EBIT falls into.



First Watch Restaurant Group EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $40.9 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


First Watch Restaurant Group  (NAS:FWRG) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

First Watch Restaurant Group's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

ROC % (Q: Mar. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2023 ) + Invested Capital (Q: Mar. 2024 ))/ count )
=52.296 * ( 1 - 27.95% )/( (1270.567 + 1285.887)/ 2 )
=37.679268/1278.227
=2.95 %

where

Invested Capital(Q: Dec. 2023 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1267.045 - 40.361 - ( 49.632 - max(0, 115.073 - 71.19+49.632))
=1270.567

Invested Capital(Q: Mar. 2024 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1279.256 - 36.411 - ( 43.245 - max(0, 106.479 - 63.437+43.245))
=1285.887

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

First Watch Restaurant Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2023  Q: Mar. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=50.448/( ( (683.083 + max(-48.604, 0)) + (699.563 + max(-42.26, 0)) )/ 2 )
=50.448/( ( 683.083 + 699.563 )/ 2 )
=50.448/691.323
=7.30 %

where Working Capital is:

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4.534 + 5.381 + 10.645) - (40.361 + 5.499 + 23.304)
=-48.604

Working Capital(Q: Mar. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3.807 + 5.198 + 10.864) - (36.411 + 3.341 + 22.377)
=-42.26

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

First Watch Restaurant Group's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2024 )
=40.925/1763.570
=2.32 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


First Watch Restaurant Group EBIT Related Terms

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First Watch Restaurant Group (First Watch Restaurant Group) Business Description

Traded in Other Exchanges
N/A
Address
8725 Pendery Place, Suite 201, Bradenton, FL, USA, 34201
First Watch Restaurant Group Inc is a daytime restaurant concept serving made-to-order breakfast, brunch, and lunch using fresh ingredients. It generates revenues from Restaurant sales and Franchise revenues.
Executives
William A Kussell director C/O ADVENT INTERNATIONAL CORPORATION, 75 STATE STREET 29TH FLOOR, BOSTON MA 02109
Christopher Anthony Tomasso director, officer: President and CEO C/O FIRST WATCH RESTAURANT GROUP, INC., 8725 PENDERY PLACE, SUITE 201, BRADENTON FL 34201
Matthew Eisenacher officer: Chief Brand Officer 8725 PENDERY PLACE, STE. 201, BRADENTON FL 34201
Irene Chang Britt director CAMPBELL SOUP COMPANY, ONE CAMPBELL PLACE, CAMDEN NJ 08103
Advent International Corp/ma 10 percent owner 800 BOYLSTON STREET SUITE 3300, BOSTON MA 02199
David Paresky director ADVENT INTERNATIONAL, PRUDENTIAL TOWER, 800 BOYLSTON STREET, BOSTON MA 02199
Tricia Glynn director C/O ADVENT INERNATIONAL CORPORATION, PRUDENTIAL TOWER, 800 BOYLSTON STREET, BOSTON MA 02199
Advent International Gp, Llc 10 percent owner 800 BOYLSTON STREET SUITE 3300, BOSTON MA 02199
Michael James White director C/O ADVENT INTERNATIONAL, PRUDENTIAL TOWER, 800 BOYLSTON STREET, BOSTON MA 02199
Advent Partners Gpe Vii-b Cayman Limited Partnership 10 percent owner C/O ADVENT INTERNATIONAL CORPORATION, 75 STATE STREET, BOSTON MA 02109
Stephanie Lilak director C/O DUNKIN' BRANDS, INC., 130 ROYALL STREET, CANTON MA 02021
Hope H Melville Iii officer: CFO and Treasurer AFC ENTERPRISES INC, SIX CONCOURSE PKWY STE 1700, ATLANTA GA 30328-5352
Middleton Calum Alasdair Johnstone officer: Chief Strategy Officer C/O FIRST WATCH RESTAURANT GROUP, INC., 8725 PENDERY PLACE, SUITE 201, BRADENTON FL 34201
Gpe Viii Gp Limited Partnership 10 percent owner C/O ADVENT INTERNATIONAL CORP., 75 STATE STREET, BOSTON MA 02109
Gpe Viii Gp S.a.r.l. 10 percent owner CO ADVENT INTERNATIONAL, 800 BOYLSTON STREET, BOSTON MA 02199