First Watch Restaurant (FWRG) Return on Capital Employed [ROCE] (2021 - 2026)
First Watch Restaurant's Return on Capital Employed [ROCE] was 1.77% in Q3 2026, up 0.30 percentage points from 1.47% a year earlier and up 0.03 percentage points from the prior quarter.
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Analysis
First Watch Restaurant (FWRG) Return on Capital Employed [ROCE] (2021 - 2026) Analysis & Trends
For FY2025, Return on Capital Employed [ROCE] at First Watch Restaurant came in at 1.88%, down 1.22 percentage points from FY2024.
- Return on Capital Employed [ROCE] shows a four-year change of -0.51 percentage points (FY2021 to FY2025).
- In earlier years, Return on Capital Employed [ROCE] was 3.11% in FY2024 (-0.75 pp), 3.85% in FY2023 (+2.12 pp), 1.73% in FY2022 (-0.66 pp) and 2.39% in FY2021.
- The Q3 2026 figure marks the highest quarterly Return on Capital Employed [ROCE] since Q1 2025.
- Compared with a year earlier, Return on Capital Employed [ROCE] was higher in two of the last eight quarters, with an average year-over-year change of -0.83 percentage points.
- The best year-over-year quarter for Return on Capital Employed [ROCE] over five years was Q4 2023 (a gain of 1.98 percentage points); the worst was Q2 2025 (a drop of 2.22 percentage points).
- Per Business Quant data, FWRG's Return on Capital Employed [ROCE] in the three quarters before Q3 2026 was 1.74% (Q2 2026), 1.73% (Q1 2026) and 1.76% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 199.07 Bn | 195.11 Bn | 6.47 Bn | 23.46% |
| 2 | Starbucks | 125.34 Bn | 125.35 Bn | - | - |
| 3 | Chipotle Mexican Grill | 45.50 Bn | 42.00 Bn | - | 23.30% |
| 4 | Yum Brands | 42.97 Bn | 38.79 Bn | 1.38 Bn | 82.24% |
| 5 | Restaurant Brands International | 27.07 Bn | 24.44 Bn | 1.40 Bn | 11.61% |
| 6 | Darden Restaurants | 25.87 Bn | 24.97 Bn | 1.68 Bn | 15.87% |
| 7 | Restaurant Brands International Limited Partnership | 24.67 Bn | 20.46 Bn | 1.40 Bn | 11.61% |
| 8 | Yum China Holdings | 16.86 Bn | 11.73 Bn | 652.00 Mn | 18.56% |
| 9 | Texas Roadhouse | 12.35 Bn | 11.68 Bn | 1.02 Bn | 16.63% |
| 10 | First Watch Restaurant | 829.60 Mn | 743.24 Mn | 3.14 Mn | 1.77% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 27, 2026 | 1.77% |
| Jun 28, 2026 | 1.74% |
| 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% |
API Access
First Watch Restaurant Return on Capital Employed [ROCE] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-capital-employed-%5Broce%5D&ticker=FWRG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "ticker": "FWRG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=return-on-capital-employed-%5Broce%5D&ticker=FWRG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();