First Watch Restaurant (FWRG) EBITDA Margin (2020 - 2026)
First Watch Restaurant's quarterly EBITDA Margin came in at 0.64% in Q1 2026, down 12.0% year-on-year from 0.73% in Q1 2025, and down 113.4% quarter-over-quarter from 4.81% in Q4 2025.
First Watch Restaurant has reported EBITDA Margin for 7 years, with the latest figure at 0.64% in Q1 2026.
- For the quarter ending Q1 2026, EBITDA Margin fell 12.0% year-over-year to 0.64%; the trailing twelve-month figure through Mar 2026 stood at 1.43% (up 53.0% YoY), and the FY2025 full-year result was 1.54%, down 35.0% from the prior year.
- EBITDA Margin for Q1 2026 stood at 0.64%, down from 4.81% in the prior quarter.
- The five-year high for EBITDA Margin was 4.81% in Q4 2025, with the low at 0.64% in Q1 2026.
- Average EBITDA Margin over 5 years is 1.66%, with a median of 1.04% recorded in 2024.
- Year-over-year, EBITDA Margin surged 429 bps in 2022 and plunged 389 bps in 2025.
- Tracing FWRG's EBITDA Margin over 5 years: stood at 0.26% in 2022, then jumped by 281 bps to 0.47% in 2023, then soared by 120 bps to 1.04% in 2024, then jumped by 361 bps to 4.81% in 2025, then plunged by 113 bps to 0.64% in 2026.
- The last three EBITDA Margin figures came in at 0.64% (Q1 2026), 4.81% (Q4 2025), and 0.97% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Starbucks | 110.27 Bn | 108.58 Bn | 9.40 Bn | 12.50% |
| 2 | Yum Brands | 40.90 Bn | 40.21 Bn | 1.38 Bn | 31.28% |
| 3 | Chipotle Mexican Grill | 39.62 Bn | 38.75 Bn | 2.61 Bn | 9.78% |
| 4 | Restaurant Brands International | 25.25 Bn | 25.79 Bn | 2.14 Bn | 26.77% |
| 5 | Darden Restaurants | 23.41 Bn | 23.17 Bn | 3.31 Bn | 12.15% |
| 6 | Yum China Holdings | 15.07 Bn | 13.64 Bn | 3.24 Bn | 13.67% |
| 7 | Texas Roadhouse | 11.59 Bn | 11.39 Bn | 1.40 Bn | 7.55% |
| 8 | Dominos Pizza | 10.51 Bn | 10.27 Bn | 464.51 Mn | 20.02% |
| 9 | Cava | 8.67 Bn | 8.28 Bn | 797.57 Mn | 1.02% |
| 10 | First Watch Restaurant | 680.42 Mn | 656.85 Mn | 256.65 Mn | -0.64% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 29, 2026 | -0.64% |
| Dec 28, 2025 | 4.81% |
| Sep 28, 2025 | 0.97% |
| Jun 29, 2025 | 0.65% |
| Mar 30, 2025 | -0.53% |
| Dec 29, 2024 | 1.04% |
| Sep 29, 2024 | -0.22% |
| Jun 30, 2024 | 3.41% |
| Mar 31, 2024 | 3.36% |
| Dec 31, 2023 | 0.47% |
| Sep 24, 2023 | 2.92% |
| Jun 25, 2023 | 3.61% |
| Mar 26, 2023 | 4.43% |
| Dec 25, 2022 | -0.26% |
| Sep 25, 2022 | 0.02% |
| Jun 26, 2022 | 1.47% |
| Mar 27, 2022 | 2.68% |
| Dec 26, 2021 | -2.86% |
| Sep 26, 2021 | 0.50% |
| Jun 27, 2021 | 2.47% |
| Mar 28, 2021 | -1.61% |
| Dec 27, 2020 | -6.51% |
| Sep 27, 2020 | -11.17% |