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.

• On a quarterly basis, Net Margin fell 52.0% year-over-year to 0.81% in Q1 2026; TTM through Mar 2026 was 0.83%, a 21.0% decrease from a year earlier, with the FY2025 full-year figure at 1.01%, down 85.0% from the prior year.
• Net Margin retreated to 0.81% in Q1 2026 per FWRG's latest filing, from 2.55% in the prior quarter.
• Across five years, Net Margin topped out at 4.43% in Q1 2023 and bottomed at 0.81% in Q1 2026.
• The 5-year median for Net Margin is 1.47% (2022), against an average of 1.72%.
• Across the five-year window, Net Margin soared 566 bps in 2022 and slumped 327 bps in 2025, its largest moves.
• Year by year, Net Margin stood at 2.8% in 2022, then slumped by 61 bps to 1.08% in 2023, then plunged by 75 bps to 0.27% in 2024, then jumped by 862 bps to 2.55% in 2025, then tumbled by 132 bps to 0.81% in 2026.
• Per Business Quant, the three latest FWRG Net Margin figures stand at 0.81% (Q1 2026), 2.55% (Q4 2025), and 0.95% (Q3 2025).