First Watch opened a record-setting 64 new restaurants in 2025, which drove the casual-dining breakfast brand’s 3.1% same-store sales growth in Q4. With the company more than one-quarter of the way ...

First Watch Restaurant Group, Inc. remains a Hold as growth slows, with FY 2026 guidance disappointing versus prior expectations. FWRG's same-store sales growth is projected to decelerate to 1–3%, and ...

First Watch maintains robust unit growth and positive traffic, but valuation remains stretched with limited near-term upside. FWRG's daytime-only model constrains operational leverage and margins, ...