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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) Operating Margin (2020 - 2025)

First Watch Restaurant (FWRG) has 5 years of Operating Margin data on record, last reported at 2.86% in Q4 2025.

  • For Q4 2025, Operating Margin rose 139.0% year-over-year to 2.86%; the TTM value through Dec 2025 reached 2.25%, down 158.0%, while the annual FY2025 figure was 2.25%, 158.0% down from the prior year.
  • Operating Margin reached 2.86% in Q4 2025 per FWRG's latest filing, down from 3.18% in the prior quarter.
  • Across five years, Operating Margin topped out at 8.0% in Q2 2021 and bottomed at 0.66% in Q4 2021.
  • Average Operating Margin over 5 years is 3.37%, with a median of 2.94% recorded in 2021.
  • Peak YoY movement for Operating Margin: crashed -526bps in 2022, then surged 277bps in 2023.
  • A 5-year view of Operating Margin shows it stood at 0.66% in 2021, then soared by 221bps to 0.8% in 2022, then skyrocketed by 252bps to 2.8% in 2023, then crashed by -48bps to 1.47% in 2024, then skyrocketed by 95bps to 2.86% in 2025.
  • Per Business Quant database, its latest 3 readings for Operating Margin were 2.86% in Q4 2025, 3.18% in Q3 2025, and 2.38% in Q2 2025.