Growth Metrics

First Watch Restaurant (FWRG) Operating Income (2020 - 2025)

First Watch Restaurant (FWRG) has 6 years of Operating Income data on record, last reported at $9.0 million in Q4 2025.

  • For Q4 2025, Operating Income rose 134.01% year-over-year to $9.0 million; the TTM value through Dec 2025 reached $27.5 million, down 29.29%, while the annual FY2025 figure was $27.5 million, 29.29% down from the prior year.
  • Operating Income reached $9.0 million in Q4 2025 per FWRG's latest filing, down from $10.0 million in the prior quarter.
  • Across five years, Operating Income topped out at $16.4 million in Q2 2024 and bottomed at -$1.1 million in Q4 2021.
  • Average Operating Income over 5 years is $7.3 million, with a median of $7.2 million recorded in 2021.
  • Peak YoY movement for Operating Income: skyrocketed 363.49% in 2023, then tumbled 90.94% in 2025.
  • A 5-year view of Operating Income shows it stood at -$1.1 million in 2021, then skyrocketed by 238.61% to $1.5 million in 2022, then surged by 363.49% to $6.9 million in 2023, then crashed by 43.68% to $3.9 million in 2024, then soared by 134.01% to $9.0 million in 2025.
  • Per Business Quant database, its latest 3 readings for Operating Income were $9.0 million in Q4 2025, $10.0 million in Q3 2025, and $7.3 million in Q2 2025.