SuperworthFirst Watch Restaurant profit margin FWRG
Gross, operating and net profit as a share of revenue over the last twelve months, from 2021.
- Net margin, 12 months
- 1.4%
- Operating margin, 12 months
- 2.1%
- Net margin on a year earlier
- +1.0 pts
- Peer median
- 1.9%
Over the twelve months to Jun 28, 2026, First Watch Restaurant kept 1.4% of its revenue as net profit, with an operating margin of 2.1% and a gross margin of 77.4%.
Five years earlier its net margin was −3.4%.
The median for 10 restaurant stocks of a similar size is 1.9%.
Profit margin over time
Fiscal year by fiscal year
| Fiscal year | Net margin | Operating margin | Gross margin |
|---|---|---|---|
| FY2025 | 1.6% | 2.3% | 77.1% |
| FY2024 | 1.9% | 3.8% | 78.0% |
| FY2023 | 2.8% | 4.6% | 77.9% |
| FY2022 | 0.9% | 2.3% | 76.4% |
| FY2021 | −0.4% | 3.7% | 77.7% |
| FY2020 | n/a | n/a | n/a |
Quarter by quarter
| Quarter | Ended | Net margin, 12 months | Change on a year | Operating margin |
|---|---|---|---|---|
| Q2 FY26 | 1.4% | +1.0 pts | 2.1% | |
| Q1 FY26 | 1.4% | +0.4 pts | 2.2% | |
| Q4 FY25 | 1.6% | −0.3 pts | 2.3% | |
| Q3 FY25 | 0.4% | −1.7 pts | 1.9% | |
| Q2 FY25 | 0.4% | −2.1 pts | 1.7% | |
| Q1 FY25 | 1.0% | −1.5 pts | 2.6% | |
| Q4 FY24 | 1.9% | −1.0 pts | 3.8% | |
| Q3 FY24 | 2.1% | −0.6 pts | 4.2% | |
| Q2 FY24 | 2.5% | +0.4 pts | 4.5% | |
| Q1 FY24 | 2.5% | +1.0 pts | 4.1% | |
| Q4 FY23 | 2.8% | +1.9 pts | 4.6% | |
| Q3 FY23 | 2.7% | +2.3 pts | 4.3% |
Against its peers
Companies in Restaurants nearest First Watch Restaurant's size, closest first, today.
| Company | Profit margin |
|---|---|
| FWRGFirst Watch Restaurant | 1.4% |
| PZZAPapa Johns International | 1.4% |
| BLMNBloomin' Brands | 0.7% |
| BRCBBlack Rock Coffee Bar | 0.7% |
| LOCOEl Pollo Loco | 7.0% |
| NATHNathans Famous | 11.8% |
| SGSweetgreen | 2.0% |
| WENWendy's | 5.7% |
| BJRIBJs RESTAURANTS INC | 2.9% |
| PTLOPortillo's | 1.9% |
| CBRLCracker Barrel Old Country Store | 1.0% |
| Peer median | 1.9% |
Where First Watch Restaurant ranks
What the profit margin tells you
Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).
Compare within an industry. 10% is superb for a retailer and poor for a software company.
More on First Watch Restaurant
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.