First Watch Restaurant (FWRG) EBITDA (2020 - 2026)
First Watch Restaurant (FWRG) reported EBITDA of $29.97 million for Q2 2026, up 17.7% from $25.45 million a year earlier and up 33.8% from the prior quarter.
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Analysis
First Watch Restaurant (FWRG) EBITDA (2020 - 2026) Analysis & Trends
Over the twelve months ended Jun 28, 2026, First Watch Restaurant's EBITDA came in at $111.76 million, up 32.7% year-over-year; for FY2025, it was $102.52 million, up 6.1% from FY2024.
- EBITDA has increased for three consecutive years.
- By year, EBITDA came in at $96.62 million in FY2024 (+17.1%), $82.49 million in FY2023 (+61.3%), $51.14 million in FY2022 (-6.4%) and $54.62 million in FY2021.
- The Q2 2026 figure ranks as the highest quarterly EBITDA since Q2 2024.
- Year over year, EBITDA has now increased in each of the last four quarters, with growth averaging 13.7% over the last eight quarters.
- The high point for year-over-year EBITDA in five years was Q4 2021 (growth of 135.6%); the low point was Q2 2022 (a decline of 33.7%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $22.4 million (Q1 2026), $29.69 million (Q4 2025) and $29.71 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 165.62 Bn | 160.44 Bn | 6.42 Bn | 3.90 Bn |
| 2 | Starbucks | 108.79 Bn | 96.42 Bn | - | 1.37 Bn |
| 3 | Chipotle Mexican Grill | 40.35 Bn | 36.33 Bn | - | 623.92 Mn |
| 4 | Yum Brands | 37.59 Bn | 34.48 Bn | 1.47 Bn | 715.00 Mn |
| 5 | Restaurant Brands International | 24.96 Bn | 22.07 Bn | 1.38 Bn | 793.00 Mn |
| 6 | Darden Restaurants | 22.28 Bn | 21.39 Bn | -113.70 Mn | 663.10 Mn |
| 7 | Restaurant Brands International Limited Partnership | 17.01 Bn | 12.57 Bn | 1.38 Bn | 793.00 Mn |
| 8 | Yum China Holdings | 14.08 Bn | 8.44 Bn | 537.00 Mn | 468.00 Mn |
| 9 | Texas Roadhouse | 10.31 Bn | 9.67 Bn | - | 201.13 Mn |
| 10 | First Watch Restaurant | 640.58 Mn | 554.57 Mn | - | 29.97 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 28, 2026 | 29.97 Mn |
| Mar 29, 2026 | 22.40 Mn |
| Dec 28, 2025 | 29.69 Mn |
| Sep 28, 2025 | 29.71 Mn |
| Jun 29, 2025 | 25.45 Mn |
| Mar 30, 2025 | 17.67 Mn |
| Dec 29, 2024 | 19.62 Mn |
| Sep 29, 2024 | 21.47 Mn |
| Jun 30, 2024 | 30.98 Mn |
| Mar 31, 2024 | 24.56 Mn |
| Dec 31, 2023 | 19.09 Mn |
| Sep 24, 2023 | 18.17 Mn |
| Jun 25, 2023 | 20.78 Mn |
| Mar 26, 2023 | 24.45 Mn |
| Dec 25, 2022 | 10.41 Mn |
| Sep 25, 2022 | 11.30 Mn |
| Jun 26, 2022 | 13.45 Mn |
| Mar 27, 2022 | 15.98 Mn |
| Dec 26, 2021 | 7.35 Mn |
| Sep 26, 2021 | 15.36 Mn |
API Access
First Watch Restaurant EBITDA 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=ebitda&ticker=FWRG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda", "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=ebitda&ticker=FWRG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();