First Watch Restaurant Group Inc (FWRG) — Net Asset Quality Index
First Watch Restaurant Group Inc (FWRG) has a Net Asset Quality Index of 35.3% as of September 2025. This metric measures the proportion of total assets financed by shareholders' equity — total assets of $1.72 Billion minus total liabilities of $1.11 Billion yields net assets of $607.31 Million. A higher index indicates a stronger, lower-leverage balance sheet. Check FWRG asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Quality Index
Net Assets
Total Assets
Total Liabilities
First Watch Restaurant Group Inc Net Asset Quality Index Over Time (2018–2024)
This chart shows how First Watch Restaurant Group Inc's Net Asset Quality Index has evolved across 7 annual periods from 2018 to 2024. As of September 2025, the index stands at 35.3%, representing net assets of $607.31 Million against total assets of $1.72 Billion USD. See working capital to net assets of First Watch Restaurant Group Inc to evaluate short-term liquidity relative to the company's equity base.
Annual Net Asset Quality Index for First Watch Restaurant Group Inc (2018–2024)
The table below presents the year-by-year Net Asset Quality Index for First Watch Restaurant Group Inc from 2018 to 2024, covering 7 annual filings. Each row shows total assets, total liabilities, net assets, the quality index percentage, and the change in percentage points compared to the prior year. For market capitalisation and the full company profile, see FWRG market cap overview.
| Year | Quality Index | Net Assets (USD) | Total Assets | Total Liabilities | Change (pp) |
|---|---|---|---|---|---|
| 2024 | 39.3% | $595.39 Million | $1.51 Billion | $918.97 Million | ▼ -5.0 pp |
| 2023 | 44.3% | $561.28 Million | $1.27 Billion | $705.76 Million | ▼ -3.1 pp |
| 2022 | 47.4% | $523.13 Million | $1.10 Billion | $581.31 Million | ▼ -0.8 pp |
| 2021 | 48.2% | $504.43 Million | $1.05 Billion | $542.49 Million | ▲ +16.3 pp |
| 2020 | 31.8% | $320.87 Million | $1.01 Billion | $686.65 Million | ▼ -1.7 pp |
| 2019 | 33.6% | $329.80 Million | $982.08 Million | $652.28 Million | ▼ -22.8 pp |
| 2018 | 56.4% | $374.67 Million | $664.51 Million | $289.84 Million | — |