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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

First Watch Restaurant (FWRG) EBT Margin (2020 - 2025)

First Watch Restaurant has reported EBT Margin over the past 6 years, most recently at 1.4% for Q4 2025.

  • Quarterly results put EBT Margin at 1.4% for Q4 2025, up 112.0% from a year ago — trailing twelve months through Dec 2025 was 0.99% (down 177.0% YoY), and the annual figure for FY2025 was 0.99%, down 177.0%.
  • EBT Margin for Q4 2025 was 1.4% at First Watch Restaurant, down from 1.8% in the prior quarter.
  • Over the last five years, EBT Margin for FWRG hit a ceiling of 6.58% in Q1 2023 and a floor of 2.96% in Q4 2021.
  • Median EBT Margin over the past 5 years was 1.6% (2025), compared with a mean of 1.93%.
  • Biggest five-year swings in EBT Margin: soared 1528bps in 2021 and later tumbled -467bps in 2025.
  • First Watch Restaurant's EBT Margin stood at 2.96% in 2021, then skyrocketed by 105bps to 0.14% in 2022, then soared by 1533bps to 2.25% in 2023, then crashed by -88bps to 0.28% in 2024, then soared by 398bps to 1.4% in 2025.
  • The last three reported values for EBT Margin were 1.4% (Q4 2025), 1.8% (Q3 2025), and 1.16% (Q2 2025) per Business Quant data.