How many employees does First Watch Restaurant Group, Inc. have?

First Watch Restaurant Group, Inc. reported 17,500 employees for the fiscal year ending Dec 2025, in the annual report it filed on February 24, 2026. That is up 16.7% from a year earlier.

What is First Watch Restaurant Group, Inc.'s revenue per employee?

First Watch Restaurant Group, Inc. brought in $1.22B of revenue in fiscal Dec 2025, which is $70K per employee. That ranks 17 of 25 companies we track in Restaurants, where the median is $92K.

Where do these numbers come from?

Employee counts and revenue are taken from each company's own annual report (Form 10-K). Open roles are counted from the company's public job board where we have matched one. Companies report headcount once a year, sometimes rounded, so small changes can be noise.

Company data

First Watch Restaurant Group, Inc. employees and revenue per employee

FWRG · Restaurants · $678M market cap

First Watch Restaurant Group, Inc. had 17,500 employees at the end of fiscal Dec 2025, up 16.7% from a year earlier. Revenue for the year was $1.22B, up 20.3% from a year earlier, or $70K per employee. Revenue and headcount both grew, and revenue grew faster.

Employees

17,500

+16.7% YoY

Revenue

$1.22B

+20.3% YoY

Revenue / employee

$70K

Peer median $92K

Rank in industry

17 of 25

Restaurants

Headcount against revenue

Both lines start at 100 in the first year we hold, so you can see which one grew faster.

EmployeesRevenueIndexed to 100 in Dec 2021

Hover a year for the numbers.

FWRG employees and revenue by fiscal year
Year ending	Employees	Revenue	Per employee	Staff YoY	Revenue YoY
Dec 2025	17,500	$1.22B	$70K	+16.7%	+20.3%
Dec 2024	15,000	$1.02B	$68K	+7.1%	+13.9%
Dec 2023	14,000	$892M	$64K	+16.7%	+22.1%
Dec 2022	12,000	$730M	$61K	+20.0%	+21.5%
Dec 2021	10,000	$601M	$60K	—	—

Open roles: we have not matched a verified job board for this company yet.

Employees, last six fiscal years

Revenue per employee, last six fiscal years

First Watch Restaurant Group, Inc. against similar companies

The closest industry peers by revenue, from Restaurants.

Company	Employees	Revenue	Revenue / employee	Shape
WING Wingstop Inc.	1,367	$697M	$510K	Efficient growth
PZZA Papa John's International, Inc.	9,400	$2.05B	$218K	Contracting
WEN The Wendy's Company	14,900	$2.18B	$146K	Hiring into decline
SG Sweetgreen, Inc.	6,486	$679M	$105K	Hiring ahead
SHAK Shake Shack Inc.	13,873	$1.45B	$104K	Efficient growth
CAVA CAVA Group, Inc.	12,900	$1.18B	$91K	Hiring ahead
FWRG First Watch Restaurant Group, Inc.	17,500	$1.22B	$70K	Efficient growth
BJRI BJ's Restaurants, Inc.	22,000	$1.40B	$64K	Hiring ahead
BROS Dutch Bros Inc.	32,000	$1.64B	$51K	Efficient growth

Every Consumer Cyclical company

Questions about First Watch Restaurant Group, Inc.

How many employees does First Watch Restaurant Group, Inc. have?: First Watch Restaurant Group, Inc. reported 17,500 employees for the fiscal year ending Dec 2025, in the annual report it filed on February 24, 2026. That is up 16.7% from a year earlier.
What is First Watch Restaurant Group, Inc.'s revenue per employee?: First Watch Restaurant Group, Inc. brought in $1.22B of revenue in fiscal Dec 2025, which is $70K per employee. That ranks 17 of 25 companies we track in Restaurants, where the median is $92K.
Where do these numbers come from?: Employee counts and revenue are taken from each company's own annual report (Form 10-K). Open roles are counted from the company's public job board where we have matched one. Companies report headcount once a year, sometimes rounded, so small changes can be noise.

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More data

Compare FWRG with the rest of the market

See who earns the most per employee, who is hiring, and who is cutting, across every company we track.

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Source: employee counts and revenue as stated in First Watch Restaurant Group, Inc.'s annual reports (Form 10-K), latest filed February 24, 2026. This is data, not a recommendation to buy or sell FWRG.