FWRG (First Watch Restaurant Group) GF Value Rank: 4 (As of Aug. 19, 2026) — 50% Below Median

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Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FWRG First Watch Restaurant Group Inc FWRG
75 GF Score
Price $12.01
GF Value $22.39
Valuation Possible Value Trap
! 5 Warning Signs
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What is First Watch Restaurant Group GF Value Rank?

First Watch Restaurant Group FWRG -2.44% 75 GF Value Rank is 4 as of Aug. 19, 2026, which is 50% below its 10-year median of 8.00. 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.

First Watch Restaurant Group has the GF Value Rank of 4.

GF Value Rank evaluates the exclusive GuruFocus valuation and performance of a stock, rated on a scale from 1 to 10. It is determined by the price-to-GF-Value (P/GF Value) ratio, a proprietary metric calculated based on historical multiples along with an adjustment factor based on a company's past returns and growth and future estimates of the business' performance.

GuruFocus found that for valuation, we cannot simply give stocks a better GF Value rank simply because they have a lower P/GF Value ratio. Backtesting shows that over the long term, the two worst-performing groups are the most expensive group (with the highest P/GF Value ratio) and the least expensive group (with the lowest P/GF Value ratio).

We can understand why the most expensive group underperforms. We were initially puzzled by the underperformance of the least expensive group, but we realized there is a reason why some stocks are super cheap. If they look too undervalued, it is often because the businesses behind them are poor quality. The market realized this and gave them low valuations. In a way, the market is efficient.

After multiple backtesting analyses, we granted the stocks in third-cheapest percentile the highest GF Value rank, as they have performed the best over a full market cycle. Stock performance is actually not as sensitive to valuation as it is to growth and profitability. On average, the companies in the 20%-50% valuation groups have similar performances. Therefore, we should avoid the most expensive and the least expensive stocks. We can be more tolerant of valuation.

A higher score indicates a stock with a relatively low valuation and substantial potential for outperformance. Conversely, a lower score often reflects stocks that are either highly overvalued or deeply undervalued, both of which tend to underperform.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

First Watch Restaurant Group GF Value Rank Related Terms

FWRG vs SG, BLMN, CNNE: GF Value Rank Comparison

For the Restaurants subindustry, First Watch Restaurant Group's GF Value Rank, along with its competitors' market caps and GF Value Rank 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 GF Value Rank vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, First Watch Restaurant Group's GF Value Rank distribution charts can be found below:

* The bar in red indicates where First Watch Restaurant Group's GF Value Rank falls into.


FWRG
75GF Score
First Watch Restaurant Group Inc FWRG
GF Value Rank is just one metric. See GF Score™, valuation, warning signs, and more.
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Frequently Asked Questions Learn more about GF Value Rank →
What does a GF Value Rank of 4 mean?
First Watch Restaurant Group (FWRG) has a GF Value Rank of 4 as of Aug. 19, 2026. GF Value Rank is given based on historical multiples along with past returns, growth and future estimates of the business' performance. View historical data on First Watch Restaurant Group and its competitors. This is 50% below median its historical median of 8.00. Over the past decade, First Watch Restaurant Group's GF Value Rank has ranged from 2.00 to 10.00.
Is First Watch Restaurant Group's GF Value Rank too high?
First Watch Restaurant Group's current GF Value Rank of 4 is 50% below median its 10-year median of 8.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 10.00. 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 GF Value Rank compare to SG and BLMN?
First Watch Restaurant Group's GF Value Rank of 4 can be compared against companies in the Restaurants industry. Historically, First Watch Restaurant Group's own GF Value Rank has ranged from 2.00 to 10.00 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good GF Value Rank for a Restaurants company?
A good GF Value Rank depends on the Restaurants industry context. However, GF Value Rank 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 GF Value Rank mean?
A high GF Value Rank can signal that a stock is expensive relative to its fundamentals. GF Value Rank is given based on historical multiples along with past returns, growth and future estimates of the business' performance. View historical data on First Watch Restaurant Group and its competitors. First Watch Restaurant Group's current GF Value Rank is 4, which is 50% below median its own 10-year median of 8.00. 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 GF Value Rank is 4, which is 50% below median its 10-year median of 8.00. 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 GF Value Rank calculated?
GF Value Rank is calculated from a company's financial statements. For First Watch Restaurant Group (FWRG), the current GF Value Rank is 4 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:

  • GF Value Rank: 4 (50% below median its 10-year median of 8.00)
  • GF Value™: $22.39 vs. price of $12.01 (46.4% below fair value)
  • GF Score™: 75/100 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

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. The company generates revenues from Restaurant sales and Franchise revenues. It generates maximum revenue from Restaurant sales.
75GF Score

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

$12.01
Price
$22.39
GF Value