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

First Watch Restaurant's Net Margin history runs 7 years deep, the most recent figure standing at 0.81% for Q1 2026.

• In Q1 2026, Net Margin fell 52.0% year-over-year to 0.81%; the TTM figure through Mar 2026 stood at 1.38% (up 35.0% YoY), while the FY2025 annual figure was 1.59%, down 27.0% from the prior year.
• Net Margin was 0.81% for Q1 2026 at First Watch Restaurant, down from 4.79% in the prior quarter.
• In the past five years, Net Margin ranged from a high of 4.79% in Q4 2025 to a low of 0.81% in Q1 2026.
• Historically, Net Margin has averaged 1.67% across 5 years, with a median of 1.08% in 2023.
• Biggest YoY gain for Net Margin was 453 bps in 2025; the steepest drop was 327 bps in 2025.
• A 5-year view of Net Margin shows it stood at 0.26% in 2022, then surged by 514 bps to 1.08% in 2023, then slumped by 75 bps to 0.27% in 2024, then soared by 1706 bps to 4.79% in 2025, then plunged by 117 bps to 0.81% in 2026.
• The last three Net Margin figures came in at 0.81% (Q1 2026), 4.79% (Q4 2025), and 0.95% (Q3 2025), per Business Quant data.