First Watch Restaurant EV/EBIT FWRG

Enterprise value divided by operating profit over the last twelve months, one-off items taken out, since 2022.

Today, Oct 23, 2026: 32.2×
4-year median: 36.7×
Against its 4-year history: 27th; percentile: 0 is its lowest day, 100 its highest
4-year range: 21.8× to 72.3×
Peer median: 14.4×

First Watch Restaurant's EV/EBIT is 32.2× as of Oct 23, 2026.

That is below its 4-year median of 36.7×, lower than on 73% of days in the last 4 years.

Over that time it ranged from 21.8× in Oct 2024 to 72.3× in Jan 2023.

The median for 10 restaurant stocks of a similar size is 14.4×.

EV/EBIT over time

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	32.2×	30.6×	54.9×
2025	50.7×	27.5×	68.9×
2024	28.8×	21.8×	43.9×
2023	35.1×	29.8×	72.3×
2022	59.0×	47.6×	68.0×

Against its peers

Companies in Restaurants nearest First Watch Restaurant's size, closest first, today.

Company	EV/EBIT
FWRGFirst Watch Restaurant	32.2×
PZZAPapa Johns International	14.2×
BLMNBloomin' Brands	9.2×
BRCBBlack Rock Coffee Bar	259×
LOCOEl Pollo Loco	8.6×
NATHNathans Famous	14.7×
SGSweetgreen	n/m
WENWendy's	11.9×
BJRIBJs RESTAURANTS INC	31.4×
PTLOPortillo's	18.4×
CBRLCracker Barrel Old Country Store	n/m
Peer median	14.4×

Where First Watch Restaurant ranks

#24of 30Restaurant stocks with the lowest EV/EBIT

What the EV/EBIT tells you

What the whole business costs against its operating profit. Enterprise value is the market value plus borrowings and minority interests, less cash. EBIT is operating profit before interest and tax, with one-offs taken out. Unlike PE it is not moved by how a company is financed.

Leases are left out of debt for every company. Banks earn on their balance sheet, so EV/EBIT does not describe them.

More on First Watch Restaurant

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.