First Watch Restaurant Group Inc (FWRG) — Cash Flow-to-Debt Ratio
First Watch Restaurant Group Inc (FWRG) has a Cash Flow-to-Debt Ratio of 0.04x as of September 2025, meaning its operating cash flow of $47.88 Million could theoretically repay 0% of its total liabilities ($1.11 Billion) in one year. See FWRG financial flexibility index to measure the company's free cash flow as a share of total liabilities.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
First Watch Restaurant Group Inc Cash Flow-to-Debt Ratio (2018–2024)
Historical debt coverage capacity for First Watch Restaurant Group Inc across 7 annual periods. For the full cash flow conversion analysis, see how efficiently does First Watch Restaurant Group Inc generate cash.
Annual Cash Flow-to-Debt Ratio for First Watch Restaurant Group Inc (2018–2024)
Year-by-year debt coverage analysis for First Watch Restaurant Group Inc. Check First Watch Restaurant Group Inc (FWRG) cash earnings ratio to evaluate the quality of earnings relative to operating cash generation.
| Year | CF-to-Debt Ratio | Operating CF (USD) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2024 | 0.13x | $115.67 Million | $918.97 Million | ▼ -6.8% |
| 2023 | 0.14x | $95.34 Million | $705.76 Million | ▲ +24.8% |
| 2022 | 0.11x | $62.94 Million | $581.31 Million | ▼ -6.7% |
| 2021 | 0.12x | $62.97 Million | $542.49 Million | ▲ +534.0% |
| 2020 | -0.03x | $-18.36 Million | $686.65 Million | ▼ -181.3% |
| 2019 | 0.03x | $21.46 Million | $652.28 Million | ▼ -69.0% |
| 2018 | 0.11x | $30.77 Million | $289.84 Million | — |