First Watch Restaurant Group Inc risk profile
48 Elevated one input has moved against it
Measured 1 September 2026 from FWRG's filed statements. Recomputed nightly.
48 (Elevated), driven by Leverage and coverage at 79, over 5 weighted categories on the MANUFACTURER profile.
What is measured
| Mechanism | Reading | Band | Direction | Driver |
|---|---|---|---|---|
| Market expectation | 61 | Stretched | Volatile | One-year price volatility — 52.2% |
| Operating pressure | 45 | Elevated | Worsening | Costs outgrowing revenue — +1.6 percentage points |
| Cash conversion | 54 | Elevated | Worsening | Capital spending against operating cash — 1.25x |
| Leverage and coverage | 79 | Stretched | Stable | Net debt to EBITDA — 9.63x |
| Competitive position | 36 | Normal | Stable | Operating-margin gap against peers — -3.2 percentage points |
| Concentration | Reads identified supplier spend, customers above the 10% disclosure threshold and revenue by region. No reading is stored for this company. | |||
These are descriptive readings of disclosed mechanisms, not investment advice, and not a prediction. A band says where a measured input sits, never what to do about it or what happens next.
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Financials, valuation and price history for First Watch Restaurant Group Inc