First Watch Restaurant Group Inc (FWRG) — Tangible Net Worth Ratio
First Watch Restaurant Group Inc (FWRG) has a Tangible Net Worth Ratio of 70.8% as of September 2025. This metric is calculated by deducting intangible assets ($177.24 Million) from net assets ($607.31 Million) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See First Watch Restaurant Group Inc (FWRG) net assets for net asset value and shareholders' equity analysis.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
First Watch Restaurant Group Inc Tangible Net Worth Ratio (2018–2024)
This chart shows how First Watch Restaurant Group Inc's Tangible Net Worth Ratio has changed across 7 annual periods from 2018 to 2024. As of September 2025, the ratio stands at 70.8%, reflecting net assets of $607.31 Million with intangible assets of $177.24 Million USD. Also explore First Watch Restaurant Group Inc annual equity growth to track the company's year-over-year net asset growth rate.
Annual Tangible Net Worth Ratio for First Watch Restaurant Group Inc (2018–2024)
The table below presents the year-by-year Tangible Net Worth Ratio for First Watch Restaurant Group Inc from 2018 to 2024, covering 7 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see market value of First Watch Restaurant Group Inc.
| Year | Tangible NW Ratio | Net Assets (USD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2024 | 71.9% | $595.39 Million | $167.60 Million | $1.51 Billion | ▼ -1.2 pp |
| 2023 | 73.1% | $561.28 Million | $151.19 Million | $1.27 Billion | ▲ +0.4 pp |
| 2022 | 72.6% | $523.13 Million | $143.15 Million | $1.10 Billion | ▲ +1.0 pp |
| 2021 | 71.7% | $504.43 Million | $143.00 Million | $1.05 Billion | ▲ +16.4 pp |
| 2020 | 55.2% | $320.87 Million | $143.66 Million | $1.01 Billion | ▼ -0.9 pp |
| 2019 | 56.2% | $329.80 Million | $144.56 Million | $982.08 Million | ▲ +3.7 pp |
| 2018 | 52.4% | $374.67 Million | $178.25 Million | $664.51 Million | — |