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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) Net Margin (2020 - 2025)

First Watch Restaurant has reported Net Margin over the past 6 years, most recently at 4.79% for Q4 2025.

  • Quarterly results put Net Margin at 4.79% for Q4 2025, up 453.0% from a year ago — trailing twelve months through Dec 2025 was 1.59% (down 27.0% YoY), and the annual figure for FY2025 was 1.59%, down 27.0%.
  • Net Margin for Q4 2025 was 4.79% at First Watch Restaurant, up from 0.95% in the prior quarter.
  • Over the last five years, Net Margin for FWRG hit a ceiling of 4.79% in Q4 2025 and a floor of 2.86% in Q4 2021.
  • Median Net Margin over the past 5 years was 1.01% (2023), compared with a mean of 1.39%.
  • Biggest five-year swings in Net Margin: soared 1167bps in 2021 and later plummeted -327bps in 2025.
  • First Watch Restaurant's Net Margin stood at 2.86% in 2021, then soared by 91bps to 0.26% in 2022, then soared by 514bps to 1.08% in 2023, then crashed by -75bps to 0.27% in 2024, then skyrocketed by 1706bps to 4.79% in 2025.
  • The last three reported values for Net Margin were 4.79% (Q4 2025), 0.95% (Q3 2025), and 0.68% (Q2 2025) per Business Quant data.