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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) Gross Margin (2020 - 2025)

First Watch Restaurant (FWRG) has 5 years of Gross Margin data on record, last reported at 62.22% in Q4 2025.

  • For Q4 2025, Gross Margin rose 2389.0% year-over-year to 62.22%; the TTM value through Dec 2025 reached 77.09%, up 753.0%, while the annual FY2025 figure was 77.09%, 95.0% down from the prior year.
  • Gross Margin reached 62.22% in Q4 2025 per FWRG's latest filing, down from 77.94% in the prior quarter.
  • Across five years, Gross Margin topped out at 137.3% in Q4 2022 and bottomed at 38.33% in Q4 2024.
  • Average Gross Margin over 5 years is 85.58%, with a median of 83.37% recorded in 2021.
  • Peak YoY movement for Gross Margin: surged 5298bps in 2022, then plummeted -7973bps in 2024.
  • A 5-year view of Gross Margin shows it stood at 84.32% in 2021, then surged by 63bps to 137.3% in 2022, then fell by -14bps to 118.06% in 2023, then tumbled by -68bps to 38.33% in 2024, then surged by 62bps to 62.22% in 2025.
  • Per Business Quant database, its latest 3 readings for Gross Margin were 62.22% in Q4 2025, 77.94% in Q3 2025, and 92.14% in Q2 2025.