First Watch Restaurant (FWRG) FCF Margin (2020 - 2026)

First Watch Restaurant's FCF Margin history runs 7 years deep, the most recent figure standing at 1.54% for Q1 2026.

• In Q1 2026, FCF Margin rose 736.0% year-over-year to 1.54%; the TTM figure through Mar 2026 stood at 0.75% (up 163.0% YoY), while the FY2025 annual figure 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 31.66% in Q4 2022, with the low at 6.73% in Q4 2024.
• The 5-year median for FCF Margin is 0.55% (2025), against an average of 1.5%.
• The sharpest annual moves came in 2022 and 2023: FCF Margin surged 2523 bps in 2022, then slumped 3504 bps in 2023.
• First Watch Restaurant's FCF Margin stood at 31.66% in 2022, then tumbled by 111 bps to 3.38% in 2023, then slumped by 99 bps to 6.73% in 2024, then increased by 14 bps to 5.8% in 2025, then surged by 127 bps to 1.54% in 2026.
• Business Quant data shows FWRG's FCF Margin at 1.54% in Q1 2026, 5.8% in Q4 2025, and 1.73% in Q3 2025.