FWRG: fairly valued.
Figures as of the 2026-09-22 close.
First Watch Restaurant Group Inc carries debt worth 1.70 times its shareholders' equity, a heavy load. Its current assets cover its short-term liabilities 0.27 times.
Its Altman Z-Score, computed from its latest annual report, falls in the distress zone: the pattern that has historically preceded bankruptcies. It is a statistical warning light, not a forecast.
It scores 5 out of 9 on the Piotroski F-Score, which checks whether profitability, leverage and efficiency improved from one annual report to the next. Seven or more is strong; three or fewer is weak. Which tests it passes, and the red flags in its accounts, are in the full analysis.