First Watch Restaurant (FWRG) Net Margin (2020 - 2026)
First Watch Restaurant (FWRG) posted quarterly Net Margin of 0.81% for Q1 2026, down 52.0% year-over-year from 1.69% in Q1 2025, and down 131.76% quarter-over-quarter from 2.55% in Q4 2025.
First Watch Restaurant (FWRG) Net Margin (2020 - 2026) Analysis & Trends
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 0.83% (down 21.0% YoY), while the FY2025 annual figure was 1.01%, down 85.0% from the prior year.
- Net Margin for Q1 2026 stood at 0.81%, down from 2.55% in the prior quarter.
- The five-year high for Net Margin was 4.43% in Q1 2023, with the low at 0.81% in Q1 2026.
- The 5-year median for Net Margin is 1.47% (2022), against an average of 1.72%.
- The sharpest annual moves came in 2022 and 2025: Net Margin soared 566 bps in 2022, then sank 327 bps in 2025.
- First Watch Restaurant's Net Margin stood at 2.8% in 2022, then tumbled by 61 bps to 1.08% in 2023, then sank by 75 bps to 0.27% in 2024, then soared by 862 bps to 2.55% in 2025, then plunged by 132 bps to 0.81% in 2026.
- Business Quant data shows FWRG's Net Margin at 0.81% in Q1 2026, 2.55% in Q4 2025, and 0.95% in Q3 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 193.05 Bn | 192.23 Bn | 6.42 Bn | 33.27% |
| 2 | Starbucks | 122.77 Bn | 119.16 Bn | 6.49 Bn | 11.21% |
| 3 | Chipotle Mexican Grill | 42.40 Bn | 41.73 Bn | 2.35 Bn | 12.05% |
| 4 | Yum Brands | 40.42 Bn | 39.75 Bn | 1.47 Bn | 39.33% |
| 5 | Restaurant Brands International | 27.11 Bn | 27.59 Bn | 1.89 Bn | 20.12% |
| 6 | Darden Restaurants | 25.70 Bn | 25.48 Bn | 3.68 Bn | -0.08% |
| 7 | Restaurant Brands International Limited Partnership | 17.24 Bn | 16.18 Bn | 1.89 Bn | 26.39% |
| 8 | Yum China Holdings | 16.42 Bn | 15.74 Bn | 2.22 Bn | 8.35% |
| 9 | Texas Roadhouse | 13.58 Bn | 13.40 Bn | 1.44 Bn | 7.26% |
| 10 | First Watch Restaurant | 784.98 Mn | 764.50 Mn | 272.08 Mn | 0.66% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 28, 2026 | 0.66% |
| Mar 29, 2026 | -0.81% |
| Dec 28, 2025 | 2.55% |
| Sep 28, 2025 | 0.95% |
| Jun 29, 2025 | 0.68% |
| Mar 30, 2025 | -0.29% |
| Dec 29, 2024 | 0.27% |
| Sep 29, 2024 | 0.84% |
| Jun 30, 2024 | 3.44% |
| Mar 31, 2024 | 2.98% |
| Dec 31, 2023 | 1.08% |
| Sep 24, 2023 | 2.47% |
| Jun 25, 2023 | 3.68% |
| Mar 26, 2023 | 4.43% |
| Dec 25, 2022 | 2.80% |
| Sep 25, 2022 | 0.02% |
| Jun 26, 2022 | 1.47% |
| Mar 27, 2022 | 2.68% |
| Dec 26, 2021 | -2.86% |
| Sep 26, 2021 | 0.50% |