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First Watch Restaurant GroupFWRG -2.44%75 EV-to-EBIT is 61.74 as of Aug. 19, 2026, which is 4% above its 10-year median of 59.59. GuruFocus rates FWRG with a GF Score™ of 75/100 and a GF Value™ of $22.39 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 263 Restaurants companies, First Watch Restaurant Group ranks worse than 91.63% on this metric.
First Watch Restaurant Group (NAS:FWRG) EV-to-EBIT Explanation
This is a more accurate valuation of companies' operation because it considers the debt and cash on its balance sheet, and non-operating items such as interest payment, tax, and one-time items are not included in the Operating Income.
First Watch Restaurant Group's Enterprise Value for the quarter that ended in Jun. 2026 was $1,848 Mil.
First Watch Restaurant Group's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $29 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 EV-to-EBIT Related Terms
First Watch Restaurant Group EV-to-EBIT Historical Data
* 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.
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 EV-to-EBIT vs 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's current Enterprise Value is $1,794 Mil.
First Watch Restaurant Group's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $29 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 (FWRG) has a EV-to-EBIT of 61.74 as of Aug. 19, 2026. EV to EBIT ratio is the inverse of Joel Greenblatt's earnings yield definition. View historical data on First Watch Restaurant Group and its competitors. This is near median its historical median of 59.59. Over the past decade, First Watch Restaurant Group's EV-to-EBIT has ranged from 35.65 to 118.80. According to the industry distribution chart, First Watch Restaurant Group ranks #241 out of 263 companies in the Restaurants industry, placing it in the top 91.6%.
Is First Watch Restaurant Group's EV-to-EBIT too high?
First Watch Restaurant Group's current EV-to-EBIT of 61.74 is near median its 10-year median of 59.59. Over the past 10 years, this metric has ranged from a low of 35.65 to a high of 118.80. The Restaurants industry median EV-to-EBIT is 17.29. First Watch Restaurant Group's value of 61.74 is 257.1% above this industry median. Based on the distribution chart, First Watch Restaurant Group ranks #241 out of 263 companies in the Restaurants industry, which is in the bottom quartile relative to peers. Overall, First Watch Restaurant Group has a GF Score™ of 75/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does First Watch Restaurant Group's EV-to-EBIT compare to SG and BLMN?
According to the Restaurants industry distribution chart, First Watch Restaurant Group ranks #241 out of 263 companies for EV-to-EBIT. This places First Watch Restaurant Group in the lower half of its industry. The industry median EV-to-EBIT is 17.29. First Watch Restaurant Group's value of 61.74 is 257.1% above this benchmark. Historically, First Watch Restaurant Group's own EV-to-EBIT has ranged from 35.65 to 118.80 over the past decade. While the company's 10-year median is 59.59 vs. the industry median of 17.29, First Watch Restaurant Group has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBIT for a Restaurants company?
The median EV-to-EBIT among Restaurants companies is 17.29, based on 263 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBIT significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. First Watch Restaurant Group's current EV-to-EBIT of 61.74 is 257.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBIT mean?
A high EV-to-EBIT can signal that a stock is expensive relative to its fundamentals. EV to EBIT ratio is the inverse of Joel Greenblatt's earnings yield definition. View historical data on First Watch Restaurant Group and its competitors. For the Restaurants industry, the median EV-to-EBIT is 17.29 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Watch Restaurant Group's current EV-to-EBIT is 61.74, which is near median its own 10-year median of 59.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Watch Restaurant Group stock overvalued right now?
Based on GuruFocus' analysis, First Watch Restaurant Group (FWRG) is currently considered Possible Value Trap. The stock's GF Value™ is $22.39, compared to a current price of $12.01 — trading 46.4% below its estimated fair value. The current EV-to-EBIT is 61.74, which is near median its 10-year median of 59.59 and 257.1% above the Restaurants industry median of 17.29. First Watch Restaurant Group's overall GF Score™ is 75/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBIT calculated?
EV-to-EBIT is calculated from a company's financial statements. For First Watch Restaurant Group (FWRG), the current EV-to-EBIT is 61.74 as of Aug. 19, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is First Watch Restaurant Group (FWRG) Overvalued in 2026?
Based on GuruFocus' analysis, First Watch Restaurant Group stock appears to be undervalued.
The current stock price of $12.01 is trading 46.4% below its estimated GF Value™ of $22.39.
GuruFocus considers First Watch Restaurant Group to be Possible Value Trap.
Key valuation signals for FWRG:
EV-to-EBIT: 61.74 (near median its 10-year median of 59.59)
GF Value™: $22.39 vs. price of $12.01 (46.4% below fair value)
Industry Position: 257.1% above the Restaurants median (#241 of 263)
No single metric tells the full story. See the FWRG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Watch Restaurant Group Inc is a daytime restaurant concept serving made-to-order breakfast, brunch, and lunch using fresh ingredients. The company generates revenues from Restaurant sales and Franchise revenues. It generates maximum revenue from Restaurant sales.
75GF Score
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