First Watch Restaurant (FWRG) Tax Rate (2021 - 2026)
First Watch Restaurant (FWRG) posted Tax Rate of 26.09% for Q3 2026, down 21.19 percentage points from 47.29% a year earlier and down 4.46 percentage points from the prior quarter.
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Analysis
First Watch Restaurant (FWRG) Tax Rate (2021 - 2026) Analysis & Trends
For FY2024, First Watch Restaurant's Tax Rate came in at 32.47%, up 2.84 percentage points from FY2023.
- Annual Tax Rate shows a three-year change of -636.99 percentage points (FY2021 to FY2024).
- In prior years, First Watch Restaurant's Tax Rate was 29.63% in FY2023 (-15.51 pp), 45.14% in FY2022 (-624.32 pp) and 669.46% in FY2021.
- The Q3 2026 figure stands as the lowest quarterly Tax Rate since Q4 2024.
- On a year-over-year basis, Tax Rate increased in two of the last five quarters, with an average year-over-year change of -12.99 percentage points.
- The strongest year-over-year quarter for Tax Rate in the past five years was Q3 2022, with a gain of 56.11 percentage points; the weakest was Q4 2023, with a drop of 237.95 percentage points.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Mcdonalds | 199.07 Bn | 195.11 Bn | 6.47 Bn | 22.02% |
| 2 | Starbucks | 125.34 Bn | 125.35 Bn | - | - |
| 3 | Chipotle Mexican Grill | 45.50 Bn | 42.00 Bn | - | 25.65% |
| 4 | Yum Brands | 42.97 Bn | 38.79 Bn | 1.38 Bn | 26.06% |
| 5 | Restaurant Brands International | 27.07 Bn | 24.44 Bn | 1.40 Bn | - |
| 6 | Darden Restaurants | 25.87 Bn | 24.97 Bn | 1.68 Bn | 12.90% |
| 7 | Restaurant Brands International Limited Partnership | 24.67 Bn | 20.46 Bn | 1.40 Bn | - |
| 8 | Yum China Holdings | 16.86 Bn | 11.73 Bn | 652.00 Mn | 28.08% |
| 9 | Texas Roadhouse | 12.35 Bn | 11.68 Bn | 1.02 Bn | 12.20% |
| 10 | First Watch Restaurant | 829.60 Mn | 743.24 Mn | 3.14 Mn | 26.09% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 27, 2026 | 26.09% |
| Jun 28, 2026 | 30.55% |
| Sep 28, 2025 | 47.29% |
| Jun 29, 2025 | 41.11% |
| Dec 29, 2024 | 5.28% |
| Sep 29, 2024 | 39.59% |
| Jun 30, 2024 | 35.41% |
| Mar 31, 2024 | 27.95% |
| Dec 31, 2023 | 51.90% |
| Sep 24, 2023 | 18.66% |
| Jun 25, 2023 | 20.34% |
| Mar 26, 2023 | 32.75% |
| Dec 25, 2022 | 289.84% |
| Sep 25, 2022 | 96.65% |
| Jun 26, 2022 | 33.04% |
| Mar 27, 2022 | 32.92% |
| Sep 26, 2021 | 40.55% |
| Jun 27, 2021 | 37.52% |
API Access
First Watch Restaurant Tax Rate 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=tax-rate&ticker=FWRG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "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=tax-rate&ticker=FWRG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();