FWRG (First Watch Restaurant Group) Total Inventories: $7 Mil (As of Mar. 2026)

What is First Watch Restaurant Group Total Inventories?

First Watch Restaurant Group FWRG +0.62% 73 Total Inventories is $7 Mil as of Mar. 2026. GuruFocus rates FWRG with a GF Score™ of 73/100 and a GF Value™ of $23.92 (Possible Value Trap). The stock has 5 warning signs investors should review.

First Watch Restaurant Group's total inventories for the quarter that ended in Mar. 2026 was $7 Mil. First Watch Restaurant Group's average total inventories from the quarter that ended in Dec. 2025 to the quarter that ended in Mar. 2026 was $7 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. First Watch Restaurant Group's Net-Net Working Capital per share for the quarter that ended in Mar. 2026 was $-18.12.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. First Watch Restaurant Group's Days Inventory for the three months ended in Mar. 2026 was 2.44.

Inventory Turnover measures how fast the company turns over its inventory within a year. First Watch Restaurant Group's Inventory Turnover for the quarter that ended in Mar. 2026 was 37.35.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. First Watch Restaurant Group's Inventory-to-Revenue for the quarter that ended in Mar. 2026 was 0.02.

First Watch Restaurant Group (NAS:FWRG) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

First Watch Restaurant Group's Net-Net Working Capital Per Share for the quarter that ended in Mar. 2026 is

	Net-Net Working Capital Per Share (Q: Mar. 2026 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(23.565	+	0.75 * 3.885	+	0.5 * 7.137	-	1146.398
-	0	-	0)	/	61.625
=	-18.12

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

First Watch Restaurant Group's Days Inventory for the three months ended in Mar. 2026 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Mar. 2026 )	/	Cost of Goods Sold (Q: Mar. 2026 )	*	Days in Period
	=	7.1555	/	267.29	*	365 / 4
	=	2.44

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

First Watch Restaurant Group's Inventory Turnover for the quarter that ended in Mar. 2026 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Mar. 2026 )	/	Average Total Inventories (Q: Mar. 2026 )
	=	267.29	/	7.1555
	=	37.35

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

First Watch Restaurant Group's Inventory to Revenue for the quarter that ended in Mar. 2026 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Mar. 2026 )	/	Revenue (Q: Mar. 2026 )
	=	7.1555	/	330.959
	=	0.02

* 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.

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

First Watch Restaurant Group Total Inventories Related Terms

First Watch Restaurant Group Total Inventories Historical Data

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

First Watch Restaurant Group Total Inventories Chart

First Watch Restaurant Group Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Total Inventories

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4.02

5.03

5.38

6.12

7.17

First Watch Restaurant Group Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Total Inventories	Get a 7-Day Free Trial															6.20	6.77	6.49	7.17	7.14

73GF Score

First Watch Restaurant Group Inc FWRG

Total Inventories is just one metric. See GF Score™, valuation, warning signs, and more.

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First Watch Restaurant Group Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

Frequently Asked Questions Learn more about Total Inventories →

What does a Total Inventories of $7 Mil mean?

First Watch Restaurant Group (FWRG) has a Total Inventories of $7 Mil as of Mar. 2026. The total amount of inventory as recorded on a company's balance sheet. View historical data for First Watch Restaurant Group and its competitors.

Is First Watch Restaurant Group's Total Inventories too high?

First Watch Restaurant Group's current Total Inventories is $7 Mil. Overall, First Watch Restaurant Group has a GF Score™ of 73/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does First Watch Restaurant Group's Total Inventories compare to BLMN and KRUS?

First Watch Restaurant Group's Total Inventories of $7 Mil can be compared against companies in the Restaurants industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Total Inventories for a Restaurants company?

A good Total Inventories depends on the Restaurants industry context. However, Total Inventories should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Total Inventories mean?

A high Total Inventories can signal that a stock is expensive relative to its fundamentals. The total amount of inventory as recorded on a company's balance sheet. View historical data for First Watch Restaurant Group and its competitors. First Watch Restaurant Group's current Total Inventories is $7 Mil. 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 $23.92, compared to a current price of $12.16 — trading 49.2% below its estimated fair value. The current Total Inventories is $7 Mil. First Watch Restaurant Group's overall GF Score™ is 73/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Total Inventories calculated?

Total Inventories is calculated from a company's financial statements. For First Watch Restaurant Group (FWRG), the current Total Inventories is $7 Mil as of Mar. 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 $12.16 is trading 49.2% below its estimated GF Value™ of $23.92. GuruFocus considers First Watch Restaurant Group to be Possible Value Trap.

Key valuation signals for FWRG:

Total Inventories: $7 Mil
GF Value™: $23.92 vs. price of $12.16 (49.2% below fair value)
GF Score™: 73/100 with 5 warning signs

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 Business Description

Industry Consumer Cyclical Restaurants

Comparable Companies BLMN KRUS CBRL CNNE BH LOCO BJRI NATH DIN PTLO MCD SBUX LSE:CPG CMG YUM TSX:QSR TSX:QSP.UN DRI YUMC TXRH

Address 8725 Pendery Place, Suite 201, Bradenton, FL, USA, 34201

Website https://www.firstwatch.com

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.

73GF Score

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Total Inventories is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$12.16

Price

$23.92

GF Value

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