31 /100
MEDIUM RISK
Score updated Jul 13, 2026

FWRG — First Watch Restaurant Group, Inc. Dilution Risk Tracker

Track FWRG dilution risk with DilutionWatch's stock tracker. DilutionScore™ measures dilution risk across 5 factors — lower scores indicate higher risk of share dilution.

⚠️ Not financial advice. Do your own research before making any investment decisions.

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As of July 13, 2026, First Watch Restaurant Group, Inc. (FWRG) has a DilutionWatch DilutionScore of 31/100, rated MEDIUM dilution risk. First Watch Restaurant Group, Inc. has a market capitalization of $716.93M, 61.64M shares outstanding, 214 institutional holders tracked. Key dilution vectors include approximately 999 months of cash runway.

Source: DilutionWatch (dilutionwatch.com) — data updated daily from SEC EDGAR filings. Not financial advice.

📊 Score Breakdown

📋 Offering Ability
40
💰 Cash Runway
0
📊 Float Risk
5
⚠️ Warrant Exposure
40
🔄Convertible Debt

🌦️ Dilution Forecast

☀️
Clear
No significant dilution signals
0%
No significant dilution signals detected for FWRG.
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💹 Market Data

Market Cap$716.93M
Shares Outstanding61.64M
Float57.48M
Cash$23.57M
DebtN/A
Short InterestN/A

🏛 Institutional Holdings

QoQ: ↑ 1.9% shares (2026Q1 vs prior)
214 institutional holders · 73.43M shares
#1 VANGUARD CAPITAL MANAGEMENT LLC 4.80M shares
#2 BlackRock, Inc. 4.07M shares
#3 Bank of New York Mellon Corp 3.96M shares
+ 17 more holders Sign up free to view →

📉 Short Interest

Short Interest5.48M
Days to Cover4.1
% of Float9.5%
FINRA data as of Jun 30, 2026

📁 Recent SEC Activity

xbrl XBRL CONVERTIBLE Dec 26, 2021
Full SEC filing analysis available with free account

📰 Recent News

No recent news

📋 What This Means for FWRG Shareholders

First Watch Restaurant Group, Inc. (FWRG) has a DilutionScore of 31/100, rated Medium dilution risk. This tier indicates some dilution exposure — often an older shelf registration with remaining capacity, warrants not yet exercised, or a cash position that will require monitoring over the next several quarters. Score as of July 13, 2026.

DilutionWatch's EDGAR monitoring for FWRG shows no major active dilution programs at this time. The primary risk categories — shelf registration capacity, ATM programs, warrant overhang, and cash runway — are each within normal ranges for a company of this profile. This can change quickly if a new S-3 or Form S-1 is filed.

DilutionWatch tracks over 25 SEC filing types for FWRG in real-time, scanning EDGAR every 60 seconds. The DilutionWatch screener shows real-time score changes for FWRG alongside comparable medium-risk stocks. Not financial advice — this analysis is for informational purposes only.

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