First Watch Restaurant (FWRG) Return on Capital Employed (2021 - 2026)
First Watch Restaurant's (FWRG) quarterly Return on Capital Employed came in at 1.73% in Q1 2026, down 27.0% year-on-year from 2.37% in Q1 2025, and down 1.48% quarter-over-quarter from 1.76% in Q4 2025.
First Watch Restaurant (FWRG) Return on Capital Employed (2021 - 2026) Analysis & Trends
First Watch Restaurant's Return on Capital Employed history runs 6 years deep, the most recent figure standing at 1.73% for Q1 2026.
- On a quarterly basis, Return on Capital Employed fell 27.0% year-over-year to 1.73% in Q1 2026; TTM through Mar 2026 was 1.73%, a 27.0% decrease from a year earlier, with the FY2025 full-year figure at 1.88%, down 122.0% from the prior year.
- Return on Capital Employed retreated to 1.73% in Q1 2026 per FWRG's latest filing, from 1.76% in the prior quarter.
- Across five years, Return on Capital Employed topped out at 3.68% in Q4 2023 and bottomed at 1.28% in Q2 2025.
- The 5-year median for Return on Capital Employed is 2.4% (2023), against an average of 2.43%.
- Across the five-year window, Return on Capital Employed surged 198 bps in 2023 and slumped 222 bps in 2025, its largest moves.
- Year by year, Return on Capital Employed stood at 1.7% in 2022, then surged by 117 bps to 3.68% in 2023, then declined by 22 bps to 2.86% in 2024, then sank by 38 bps to 1.76% in 2025, then declined by 1 bps to 1.73% in 2026.
- Per Business Quant, the three latest FWRG Return on Capital Employed figures stand at 1.73% (Q1 2026), 1.76% (Q4 2025), and 1.47% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Starbucks | 117.61 Bn | 115.91 Bn | 6.32 Bn | 14.71% |
| 2 | Chipotle Mexican Grill | 41.20 Bn | 40.33 Bn | 2.61 Bn | 24.19% |
| 3 | Yum Brands | 40.68 Bn | 39.99 Bn | 1.38 Bn | 52.50% |
| 4 | Restaurant Brands International | 25.13 Bn | 25.66 Bn | 2.14 Bn | 10.29% |
| 5 | Darden Restaurants | 22.23 Bn | 21.99 Bn | 3.68 Bn | 16.04% |
| 6 | Yum China Holdings | 15.22 Bn | 14.47 Bn | 2.31 Bn | 15.73% |
| 7 | Texas Roadhouse | 12.56 Bn | 12.37 Bn | 1.40 Bn | 17.54% |
| 8 | Dominos Pizza | 10.74 Bn | 10.60 Bn | 478.23 Mn | 80.74% |
| 9 | Dutch Bros | 8.14 Bn | 8.10 Bn | 107.48 Mn | 5.87% |
| 10 | First Watch Restaurant | 737.04 Mn | 713.47 Mn | 279.06 Mn | 1.73% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 29, 2026 | 1.73% |
| Dec 28, 2025 | 1.76% |
| Sep 28, 2025 | 1.47% |
| Jun 29, 2025 | 1.28% |
| Mar 30, 2025 | 2.00% |
| Dec 29, 2024 | 2.86% |
| Sep 29, 2024 | 3.16% |
| Jun 30, 2024 | 3.50% |
| Mar 31, 2024 | 3.28% |
| Dec 31, 2023 | 3.68% |
| Sep 24, 2023 | 3.34% |
| Jun 25, 2023 | 2.99% |
| Mar 26, 2023 | 2.40% |
| Dec 25, 2022 | 1.70% |
| Sep 25, 2022 | 1.45% |
| Jun 26, 2022 | 1.94% |
| Mar 27, 2022 | 2.71% |
| Dec 26, 2021 | 2.35% |