First Watch Restaurant Group Inc Working Capital to Net Assets Ratio
First Watch Restaurant Group Inc working capital to net assets ratio. First Watch Restaurant Group Inc (FWRG) has a Working Capital to Net Assets ratio of -20.6% as of June 2026. Working capital of $-130.36 Million (current assets of $47.53 Million minus current liabilities of $177.89 Million) is measured against net assets of $634.17 Million. A higher ratio indicates strong short-term liquidity financed by the equity base.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Working Capital to Net Assets Ratio of First Watch Restaurant Group Inc (2018–2025)
Working capital to net assets ratio of First Watch Restaurant Group Inc from 2018 to 2025. This chart shows how First Watch Restaurant Group Inc's Working Capital to Net Assets ratio has evolved across 8 annual periods from 2018 to 2025. As of June 2026, the ratio stands at -20.6%, reflecting working capital of $-130.36 Million against net assets of $634.17 Million USD. See First Watch Restaurant Group Inc defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.
First Watch Restaurant Group Inc Working Capital to Net Assets Ratio by Year (2018–2025)
First Watch Restaurant Group Inc working capital to net assets ratio by year from 2018 to 2025. The table below presents the year-by-year Working Capital to Net Assets ratio for First Watch Restaurant Group Inc from 2018 to 2025, covering 8 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For the complete balance sheet picture, see FWRG current and non-current assets.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -18.9% | $-118.42 Million | $626.28 Million | $49.08 Million | $167.50 Million | ▼ -5.0 pp |
| 2024 | -13.9% | $-82.60 Million | $595.39 Million | $55.88 Million | $138.47 Million | ▼ -6.1 pp |
| 2023 | -7.8% | $-43.88 Million | $561.28 Million | $71.19 Million | $115.07 Million | ▼ -1.6 pp |
| 2022 | -6.2% | $-32.69 Million | $523.13 Million | $67.29 Million | $99.98 Million | ▼ -0.5 pp |
| 2021 | -5.7% | $-28.83 Million | $504.43 Million | $67.70 Million | $96.52 Million | ▲ +2.9 pp |
| 2020 | -8.6% | $-27.49 Million | $320.87 Million | $49.04 Million | $76.53 Million | ▲ +6.2 pp |
| 2019 | -14.8% | $-48.77 Million | $329.80 Million | $24.24 Million | $73.02 Million | ▼ -12.8 pp |
| 2018 | -2.0% | $-7.46 Million | $374.67 Million | $29.44 Million | $36.90 Million | — |