First Watch Restaurant (FWRG) EBIT Margin (2020 - 2026)
First Watch Restaurant's EBIT Margin came in at 3.16% for Q3 2026, down 0.02 percentage points from 3.18% a year earlier but up 0.87 percentage points from the prior quarter.
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Analysis
First Watch Restaurant (FWRG) EBIT Margin (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 27, 2026, First Watch Restaurant reported EBIT Margin of 2.16%, up 0.25 percentage points year-over-year; for FY2025, it was 2.25%, down 1.58 percentage points from FY2024.
- EBIT Margin carries a five-year change of +16.04 percentage points (FY2020 to FY2025).
- Going back by year, EBIT Margin was 3.83% in FY2024 (-0.80 pp), 4.63% in FY2023 (+2.31 pp), 2.32% in FY2022 (-1.38 pp) and 3.70% in FY2021 (+17.49 pp).
- The five-year range for quarterly EBIT Margin is -0.66% (Q4 2021) to 7.25% (Q1 2023).
- Year-over-year, EBIT Margin has declined for three consecutive quarters, with an average year-over-year change of -1.02 percentage points over the last eight quarters.
- The fastest year-over-year change in EBIT Margin over five years came in Q4 2021 (a gain of 3.67 percentage points), and the weakest in Q2 2022 (a drop of 5.26 percentage points).
- Business Quant data shows FWRG's EBIT Margin at 2.29% (Q2 2026), 0.30% (Q1 2026) and 2.86% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBIT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 198.08 Bn | 192.90 Bn | 6.42 Bn | 47.02% |
| 2 | Starbucks | 123.34 Bn | 110.96 Bn | - | 10.52% |
| 3 | Chipotle Mexican Grill | 45.28 Bn | 41.78 Bn | - | 13.72% |
| 4 | Yum Brands | 43.42 Bn | 40.31 Bn | 1.47 Bn | 30.20% |
| 5 | Restaurant Brands International | 26.75 Bn | 22.54 Bn | 1.40 Bn | 27.56% |
| 6 | Darden Restaurants | 25.71 Bn | 24.80 Bn | 1.68 Bn | 9.98% |
| 7 | Restaurant Brands International Limited Partnership | 24.67 Bn | 20.46 Bn | 1.40 Bn | 27.56% |
| 8 | Yum China Holdings | 17.17 Bn | 10.82 Bn | 537.00 Mn | 11.09% |
| 9 | Texas Roadhouse | 12.34 Bn | 11.68 Bn | - | 8.50% |
| 10 | First Watch Restaurant | 835.07 Mn | 748.71 Mn | - | 3.16% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 27, 2026 | 3.16% |
| Jun 28, 2026 | 2.29% |
| Mar 29, 2026 | 0.30% |
| Dec 28, 2025 | 2.86% |
| Sep 28, 2025 | 3.18% |
| Jun 29, 2025 | 2.38% |
| Mar 30, 2025 | 0.39% |
| Dec 29, 2024 | 1.47% |
| Sep 29, 2024 | 2.51% |
| Jun 30, 2024 | 6.36% |
| Mar 31, 2024 | 5.07% |
| Dec 31, 2023 | 2.80% |
| Sep 24, 2023 | 3.53% |
| Jun 25, 2023 | 5.24% |
| Mar 26, 2023 | 7.25% |
| Dec 25, 2022 | 0.80% |
| Sep 25, 2022 | 1.40% |
| Jun 26, 2022 | 2.74% |
| Mar 27, 2022 | 4.48% |
| Dec 26, 2021 | -0.66% |
API Access
First Watch Restaurant EBIT Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebit-margin&ticker=FWRG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebit-margin", "ticker": "FWRG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebit-margin&ticker=FWRG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();