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Ratios
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 - 2026)

First Watch Restaurant has reported Net Margin over the past 7 years, most recently at 0.81% for Q1 2026.

  • For Q1 2026, Net Margin fell 52.0% year-over-year to 0.81%; the TTM value through Mar 2026 reached 1.38%, up 35.0%, while the annual FY2025 figure was 1.59%, 27.0% down from the prior year.
  • Net Margin for Q1 2026 was 0.81% at First Watch Restaurant, down from 4.79% in the prior quarter.
  • Over five years, Net Margin peaked at 4.79% in Q4 2025 and troughed at 0.81% in Q1 2026.
  • A 5-year average of 1.67% and a median of 1.08% in 2023 define the central range for Net Margin.
  • On a YoY basis, Net Margin climbed as much as 453bps in 2025 and fell as far as -327bps in 2025.
  • Year by year, Net Margin stood at 0.26% in 2022, then skyrocketed by 514bps to 1.08% in 2023, then plummeted by -75bps to 0.27% in 2024, then surged by 1706bps to 4.79% in 2025, then crashed by -117bps to 0.81% in 2026.
  • Business Quant data shows Net Margin for FWRG at 0.81% in Q1 2026, 4.79% in Q4 2025, and 0.95% in Q3 2025.