First Watch Restaurant (FWRG) FCF Margin (2020 - 2026)
First Watch Restaurant (FWRG) posted quarterly FCF Margin of 1.54% for Q1 2026, up 736.0% year-over-year from 0.18% in Q1 2025, and up 126.64% quarter-over-quarter from 5.8% in Q4 2025.
First Watch Restaurant (FWRG) FCF Margin (2020 - 2026) Analysis & Trends
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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 193.05 Bn | 192.23 Bn | 6.42 Bn | 27.83% |
| 2 | Starbucks | 122.77 Bn | 119.16 Bn | 6.49 Bn | 14.49% |
| 3 | Chipotle Mexican Grill | 42.40 Bn | 41.73 Bn | 2.35 Bn | 13.84% |
| 4 | Yum Brands | 40.42 Bn | 39.75 Bn | 1.47 Bn | 18.76% |
| 5 | Restaurant Brands International | 27.11 Bn | 27.59 Bn | 1.89 Bn | 19.01% |
| 6 | Darden Restaurants | 25.70 Bn | 25.48 Bn | 3.68 Bn | 10.19% |
| 7 | Restaurant Brands International Limited Partnership | 17.24 Bn | 16.18 Bn | 1.89 Bn | 19.01% |
| 8 | Yum China Holdings | 16.42 Bn | 15.74 Bn | 2.22 Bn | 9.53% |
| 9 | Texas Roadhouse | 13.58 Bn | 13.40 Bn | 1.44 Bn | 4.85% |
| 10 | First Watch Restaurant | 784.98 Mn | 764.50 Mn | 272.08 Mn | -3.68% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 28, 2026 | -3.68% |
| 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 | 31.66% |
| Sep 25, 2022 | -1.92% |
| Jun 26, 2022 | -1.30% |
| Mar 27, 2022 | 4.41% |
| Dec 26, 2021 | 6.43% |
| Sep 26, 2021 | 3.77% |