What is First Watch Restaurant Group, Inc.'s Shariah compliance score?

First Watch Restaurant Group, Inc.'s (FWRG) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does First Watch Restaurant Group, Inc. pass AAOIFI screening?

First Watch Restaurant Group, Inc. (FWRG) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (FWRG: 37.8%), (3) interest-bearing deposits below 30% (FWRG: 3.0%), and (4) prohibited income below 5% (FWRG: 0.0%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for First Watch Restaurant Group, Inc. stock?

First Watch Restaurant Group, Inc. (FWRG) has a non-permissible income ratio of 0.00%. Muslim investors should purify this percentage of any dividends received and capital gains realized from FWRG shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation using the latest financial data.

Where can I screen First Watch Restaurant Group, Inc. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for First Watch Restaurant Group, Inc. (FWRG) and 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. HalalScreener also includes an AI Islamic Scholar for follow-up questions about FWRG's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

Is First Watch Restaurant Group, Inc. (FWRG) halal? Not Halal. Based on AAOIFI screening, First Watch Restaurant Group, Inc. passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

FWRG: Is First Watch Restaurant Group, Inc. Halal?

Not Halal

First Watch Restaurant Group, Inc.

NASDAQConsumer CyclicalUS

$10.44

-6.20%

AvoidBorderlineClean

About First Watch Restaurant Group, Inc.

First Watch Restaurant Group, Inc. operates and franchises restaurants under the First Watch trade name. As of March 23, 2022, it operated 341 company-owned restaurants and 94 franchised restaurants in 28 states in the United States. The company was formerly known as AI Fresh Super Holdco, Inc. and changed its name to First Watch Restaurant Group, Inc. in December 2019. First Watch Restaurant Group, Inc. was founded in 1983 and is headquartered in Bradenton, Florida.

Sector: Consumer Cyclical · Industry: Restaurants

Shariah Compliance Status

AAOIFI Standard 21Updated Jun 18, 2026

Non-Compliant

Fails Shariah screening

0Score

Business Activity Screen

Passed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Peripheral exposure (still halal, purify this share)

2.0%

Primary business is permissible. AAOIFI allows up to 5% revenue from incidental non-compliant sources, provided the share is purified.

•Restaurants: estimated 2.0% peripheral exposure (AAOIFI industry average)

Use the Purification Calculator to compute exactly how much of your dividend income to donate.

Financial Ratio Screen

Failed

Financial ratios must be below AAOIFI thresholds

Debt / Market Cap37.8% / 30.0%

Compliance History

Not Halal, unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Screened: Jun 18, 2026Fiscal: Q1 2026Source: EDGAR

Financial Overview

Market Cap

643.6M

Price

$10.44

Sector

Consumer Cyclical

Industry

Restaurants

Halal Alternatives in Consumer Cyclical

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

MARA+

Marriott International, Inc.

$394.61

-0.28%

ROLA+

Rollins, Inc.

$46.79

-0.23%

TSCOA+

Tractor Supply Company

$29.78

+1.40%

GNTXA+

Gentex Corporation

$24.63

+2.28%

MODA+

Modine Manufacturing Company

$275.23

-0.46%

More Consumer Cyclical Stocks

AMZN

Amazon.com, Inc.

A+

TSLA

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The Home Depot, Inc.

MCD

McDonald's Corporation

B+

BKNG

Booking Holdings Inc.

LOW

Lowe's Companies, Inc.

Free · No credit card required

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Frequently Asked Questions

Is First Watch Restaurant Group, Inc. (FWRG) halal to invest in?

First Watch Restaurant Group, Inc. (FWRG) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did First Watch Restaurant Group, Inc. get a F compliance rating?

First Watch Restaurant Group, Inc. (FWRG) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 37.8% (limit 30%); interest-bearing deposits of 3.0% (limit 30%); prohibited income of 0.00% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change First Watch Restaurant Group, Inc.'s Shariah verdict?

First Watch Restaurant Group, Inc.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is First Watch Restaurant Group, Inc. re-screened for Shariah compliance?

First Watch Restaurant Group, Inc. (FWRG) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jun 18, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.