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First Watch Restaurant Group's Enterprise Value for the quarter that ended in Dec. 2023 was $1,761.2 Mil. First Watch Restaurant Group's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $44.1 Mil. First Watch Restaurant Group's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 2.51%.
The historical rank and industry rank for First Watch Restaurant Group's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
During the past 5 years, the highest Earnings Yield (Joel Greenblatt) of First Watch Restaurant Group was 2.58%. The lowest was 0.84%. And the median was 1.75%.
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. First Watch Restaurant Group's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 0.00%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
The historical data trend for First Watch Restaurant Group's Earnings Yield (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
First Watch Restaurant Group Annual Data | |||||||||||
Trend | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | ||||||
Earnings Yield (Joel Greenblatt) % | - | - | 1.45 | 1.42 | 2.51 |
First Watch Restaurant Group Quarterly Data | ||||||||||||||||
Dec19 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Earnings Yield (Joel Greenblatt) % | Get a 7-Day Free Trial | 1.42 | 1.83 | 2.22 | 2.47 | 2.51 |
For the Restaurants subindustry, First Watch Restaurant Group's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Restaurants industry and Consumer Cyclical sector, First Watch Restaurant Group's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where First Watch Restaurant Group's Earnings Yield (Joel Greenblatt) % falls into.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
First Watch Restaurant Groups Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
Earnings Yield (Joel Greenblatt) | = | EBIT | / | Enterprise Value |
= | 44.138 | / | 1761.15717 | |
= | 2.51 % |
First Watch Restaurant Group's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $44.1 Mil.
First Watch Restaurant Group (NAS:FWRG) Earnings Yield (Joel Greenblatt) % Explanation
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.
Thank you for viewing the detailed overview of First Watch Restaurant Group's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
William A Kussell | director | C/O ADVENT INTERNATIONAL CORPORATION, 75 STATE STREET 29TH FLOOR, BOSTON MA 02109 |
Christopher Anthony Tomasso | director, officer: President and CEO | C/O FIRST WATCH RESTAURANT GROUP, INC., 8725 PENDERY PLACE, SUITE 201, BRADENTON FL 34201 |
Matthew Eisenacher | officer: Chief Brand Officer | 8725 PENDERY PLACE, STE. 201, BRADENTON FL 34201 |
Irene Chang Britt | director | CAMPBELL SOUP COMPANY, ONE CAMPBELL PLACE, CAMDEN NJ 08103 |
Advent International Corp/ma | 10 percent owner | 800 BOYLSTON STREET SUITE 3300, BOSTON MA 02199 |
David Paresky | director | ADVENT INTERNATIONAL, PRUDENTIAL TOWER, 800 BOYLSTON STREET, BOSTON MA 02199 |
Tricia Glynn | director | C/O ADVENT INERNATIONAL CORPORATION, PRUDENTIAL TOWER, 800 BOYLSTON STREET, BOSTON MA 02199 |
Advent International Gp, Llc | 10 percent owner | 800 BOYLSTON STREET SUITE 3300, BOSTON MA 02199 |
Michael James White | director | C/O ADVENT INTERNATIONAL, PRUDENTIAL TOWER, 800 BOYLSTON STREET, BOSTON MA 02199 |
Advent Partners Gpe Vii-b Cayman Limited Partnership | 10 percent owner | C/O ADVENT INTERNATIONAL CORPORATION, 75 STATE STREET, BOSTON MA 02109 |
Stephanie Lilak | director | C/O DUNKIN' BRANDS, INC., 130 ROYALL STREET, CANTON MA 02021 |
Hope H Melville Iii | officer: CFO and Treasurer | AFC ENTERPRISES INC, SIX CONCOURSE PKWY STE 1700, ATLANTA GA 30328-5352 |
Middleton Calum Alasdair Johnstone | officer: Chief Strategy Officer | C/O FIRST WATCH RESTAURANT GROUP, INC., 8725 PENDERY PLACE, SUITE 201, BRADENTON FL 34201 |
Gpe Viii Gp Limited Partnership | 10 percent owner | C/O ADVENT INTERNATIONAL CORP., 75 STATE STREET, BOSTON MA 02109 |
Gpe Viii Gp S.a.r.l. | 10 percent owner | CO ADVENT INTERNATIONAL, 800 BOYLSTON STREET, BOSTON MA 02199 |
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