First Watch Restaurant Group Inc
First Watch Restaurant Group, Inc., through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc. and changed its name to First Watch Restaurant Group, Inc. in December 2019. The company was founded in 1983 and is based in Bradenton, Florida.
First Watch Restaurant Group Inc (FWRG) - Total Assets
Latest total assets as of September 2025: $1.72 Billion USD
Based on the latest financial reports, First Watch Restaurant Group Inc (FWRG) holds total assets worth $1.72 Billion USD as of September 2025.
Total assets represent everything the company owns and controls, combining both current assets—like cash and cash equivalents, accounts receivable, and inventories—and non-current assets such as property, plant, equipment (PP&E), intangible assets, and long-term investments.
First Watch Restaurant Group Inc - Total Assets Trend (2018–2024)
This chart illustrates how First Watch Restaurant Group Inc’s total assets have evolved over time, based on quarterly financial data. Explore and compare other companies by total assets.
First Watch Restaurant Group Inc - Asset Composition Analysis
Current Asset Composition (December 2024)
First Watch Restaurant Group Inc's total assets of $1.72 Billion consist of 3.7% current assets and 96.3% non-current assets.
| Asset Category | Amount (USD) | % of Total Assets |
|---|---|---|
| Cash & Equivalents | $0.00 | 2.2% |
| Accounts Receivable | $7.24 Million | 0.5% |
| Inventory | $6.12 Million | 0.4% |
| Property, Plant & Equipment | $0.00 | 0.0% |
| Intangible Assets | $167.60 Million | 11.1% |
| Goodwill | $398.56 Million | 26.3% |
Asset Composition Trend (2018–2024)
This chart illustrates how First Watch Restaurant Group Inc's asset composition has evolved over time. Understanding changes in asset allocation can provide insights into the company's strategic shifts, capital allocation priorities, and business focus evolution.
Key Asset Composition Facts
- Current vs. Non-Current Assets: First Watch Restaurant Group Inc's current assets represent 3.7% of total assets in 2024, a decrease from 4.4% in 2018.
- Cash Position: Cash and equivalents constituted 2.2% of total assets in 2024, down from 2.5% in 2018.
- Tangible vs. Intangible: Intangible assets (including goodwill) make up 37.0% of total assets, a decrease from 75.0% in 2018.
- Asset Diversification: The largest asset category is goodwill at 26.3% of total assets.
First Watch Restaurant Group Inc Competitors by Total Assets
Key competitors of First Watch Restaurant Group Inc based on total assets are shown below.
| Company | Country | Total Assets |
|---|---|---|
|
Mr. Onion
TWO:2740
|
Taiwan | NT$124.93 Million |
|
Loungers PLC
LSE:LGRS
|
UK | GBX409.83 Million |
|
Young & Co.'s Brewery P.L.C.
PINK:YCSBF
|
USA | $1.31 Billion |
|
KINGZA International CO.,Ltd.
TWO:2751
|
Taiwan | NT$1.25 Billion |
|
Tofu Restaurant Co Ltd
TWO:2752
|
Taiwan | NT$2.27 Billion |
|
XiAn Catering Co Ltd
SHE:000721
|
China | CN¥1.26 Billion |
|
China Quanjude Group Co Ltd
SHE:002186
|
China | CN¥1.54 Billion |
|
Cloud Live Technology Group Co Ltd
SHE:002306
|
China | CN¥759.24 Million |
First Watch Restaurant Group Inc - Asset Efficiency Metrics
Asset efficiency metrics measure how effectively a company uses its assets to generate revenue and profits. These indicators help investors evaluate management's ability to deploy capital efficiently.
Asset Turnover Ratio
Measures how efficiently a company uses its assets to generate sales
Moderate asset utilization - First Watch Restaurant Group Inc generates 0.67x its asset value in annual revenue.
Return on Assets (ROA)
Measures how efficiently a company uses its assets to generate profits
Moderate ROA - For every $100 in assets, First Watch Restaurant Group Inc generates $ 1.25 in net profit.
First Watch Restaurant Group Inc - Liquidity and Working Capital Analysis
Liquidity ratios measure a company's ability to pay off its short-term debts as they come due, using the company's current or quick assets. Working capital represents the operational liquidity available.
Key Liquidity Metrics
| Metric | Current | 1 Year Ago | 5 Years Ago |
|---|---|---|---|
| Current Ratio | 0.25 | 0.54 | 0.64 |
| Quick Ratio | 0.21 | 0.51 | 0.60 |
| Cash Ratio | 0.00 | 0.00 | 0.00 |
| Working Capital | $-133.05 Million | $ -61.01 Million | $ -27.49 Million |
First Watch Restaurant Group Inc - Advanced Valuation Insights
This section examines the relationship between First Watch Restaurant Group Inc's asset base and its market valuation, helping to identify whether the company's assets are efficiently translated into market value.
Key Valuation Metrics
| Current Price-to-Book Ratio | 1.72 |
| Latest Market Cap to Assets Ratio | 0.46 |
| Asset Growth Rate (YoY) | 19.5% |
| Total Assets | $1.51 Billion |
| Market Capitalization | $693.66 Million USD |
Valuation Analysis
Below Book Valuation: The market values First Watch Restaurant Group Inc's assets below their book value (0.46 x), which may indicate investor concerns about asset quality or future growth.
Rapid Asset Growth: First Watch Restaurant Group Inc's assets grew by 19.5% over the past year, indicating significant expansion of the company's resource base.
Annual Total Assets for First Watch Restaurant Group Inc (2018–2024)
The table below shows the annual total assets of First Watch Restaurant Group Inc from 2018 to 2024.
| Year | Total Assets | Change |
|---|---|---|
| 2024-12-31 | $1.51 Billion | +19.52% |
| 2023-12-31 | $1.27 Billion | +14.72% |
| 2022-12-31 | $1.10 Billion | +5.50% |
| 2021-12-31 | $1.05 Billion | +3.91% |
| 2020-12-31 | $1.01 Billion | +2.59% |
| 2019-12-31 | $982.08 Million | +47.79% |
| 2018-12-31 | $664.51 Million | -- |