First Watch Restaurant (FWRG) FCF Margin (2020 - 2026)
First Watch Restaurant's quarterly FCF Margin came in at 1.54% in Q1 2026, up 736.0% year-on-year from 0.18% in Q1 2025, and up 126.64% quarter-over-quarter from 5.8% in Q4 2025.
First Watch Restaurant has reported FCF Margin for 7 years, with the latest figure at 1.54% in Q1 2026.
- For the quarter ending Q1 2026, FCF Margin rose 736.0% year-over-year to 1.54%; the trailing twelve-month figure through Mar 2026 stood at 0.75% (up 163.0% YoY), and the FY2025 full-year result was 2.54%, down 133.0% from the prior year.
- FCF Margin for Q1 2026 stood at 1.54%, up from 5.8% in the prior quarter.
- The five-year high for FCF Margin was 9.67% in Q1 2023, with the low at 6.73% in Q4 2024.
- Average FCF Margin over 5 years is 0.41%, with a median of 0.55% recorded in 2025.
- Year-over-year, FCF Margin soared 1161 bps in 2023 and tumbled 1115 bps in 2024.
- Tracing FWRG's FCF Margin over 5 years: stood at 0.51% in 2022, then slumped by 567 bps to 3.38% in 2023, then slumped by 99 bps to 6.73% in 2024, then gained by 14 bps to 5.8% in 2025, then jumped by 127 bps to 1.54% in 2026.
- The last three FCF Margin figures came in at 1.54% (Q1 2026), 5.8% (Q4 2025), and 1.73% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Starbucks | 110.27 Bn | 108.58 Bn | 9.40 Bn | 0.96% |
| 2 | Yum Brands | 40.90 Bn | 40.21 Bn | 1.38 Bn | 16.56% |
| 3 | Chipotle Mexican Grill | 39.62 Bn | 38.75 Bn | 2.61 Bn | 15.25% |
| 4 | Restaurant Brands International | 25.25 Bn | 25.79 Bn | 2.14 Bn | 7.46% |
| 5 | Darden Restaurants | 23.41 Bn | 23.17 Bn | 3.31 Bn | 13.51% |
| 6 | Yum China Holdings | 15.07 Bn | 13.64 Bn | 3.24 Bn | 12.41% |
| 7 | Texas Roadhouse | 11.59 Bn | 11.39 Bn | 1.40 Bn | 10.96% |
| 8 | Dominos Pizza | 10.51 Bn | 10.27 Bn | 464.51 Mn | 12.77% |
| 9 | Cava | 8.67 Bn | 8.28 Bn | 797.57 Mn | 1.04% |
| 10 | First Watch Restaurant | 680.42 Mn | 656.85 Mn | 256.65 Mn | 1.54% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 29, 2026 | 1.54% |
| Dec 28, 2025 | -5.80% |
| Sep 28, 2025 | 1.73% |
| Jun 29, 2025 | -0.55% |
| Mar 30, 2025 | -5.81% |
| Dec 29, 2024 | -6.73% |
| Sep 29, 2024 | 2.70% |
| Jun 30, 2024 | 0.89% |
| Mar 31, 2024 | -1.49% |
| Dec 31, 2023 | -3.38% |
| Sep 24, 2023 | -2.57% |
| Jun 25, 2023 | 2.53% |
| Mar 26, 2023 | 9.67% |
| Dec 25, 2022 | -0.51% |
| Sep 25, 2022 | -1.92% |
| Jun 26, 2022 | 4.67% |
| Mar 27, 2022 | -1.95% |
| Dec 26, 2021 | 6.43% |
| Sep 26, 2021 | 3.77% |
| Jun 27, 2021 | 3.59% |
| Mar 28, 2021 | 4.51% |
| Dec 27, 2020 | -2.32% |