First Watch Restaurant Group, Inc. (FWRG) Earnings History
Profitable8 years of earnings data (2018–2025) · Positive TTM net income
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First Watch Restaurant Group, Inc. (FWRG) Earnings Overview
As of November 8, 2026, First Watch Restaurant Group, Inc. (FWRG) reported trailing twelve-month net income of $20M, reflecting +3.3% year-over-year growth. The company earned $0.31 per diluted share over the past four quarters, with a net profit margin of 1.6%.
Looking at the long-term picture, FWRG's historical earnings data spans multiple years. The company achieved its highest annual net income of $25M in fiscal 2023.
First Watch Restaurant Group, Inc. maintains positive profitability with a gross margin of 13.0%, operating margin of 2.8%, and net margin of 1.6%. The company continues to generate positive earnings from operations. View revenue history →
Compared to peers including CBRL ($32M net income, 1.0% margin), BJRI ($46M net income, 3.5% margin), CAKE ($208M net income, 4.0% margin), FWRG has outperformed on profitability metrics. Compare FWRG vs CBRL →
FWRG Earnings vs Peers
Earnings metrics vs comparable public companies
FWRG Historical Earnings Data (2018–2025)
8 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $19M | +2.7% | $34M | $0.31 | 1.6% | 2.8% |
| 2024 | $19M | -25.4% | $39M | $0.30 | 1.9% | 3.8% |
| 2023 | $25M | +267.5% | $41M | $0.41 | 2.8% | 4.6% |
| 2022 | $7M | +427.8% | $17M | $0.11 | 0.9% | 2.3% |
| 2021 | -$2M | +95.8% | $22M | $-0.04 | -0.4% | 3.7% |
| 2020 | -$50M | -9.3% | -$47M | $-0.86 | -14.5% | -13.8% |
| 2019 | -$45M | -269.5% | -$38M | $-0.79 | -10.4% | -8.6% |
| 2018 | -$12M | - | $3M | $-0.27 | -3.5% | 0.9% |
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FWRG — Frequently Asked Questions
Quick answers to the most common questions about buying FWRG stock.
What is FWRG earnings per share (EPS)?
FWRG trailing twelve-month (TTM) diluted EPS is $0.31, reflecting +3.3% year-over-year growth. The 5-year EPS CAGR is N/A. Complete EPS history from 2018 to 2025 is available in the table on this page.
What is First Watch Restaurant Group, Inc.'s net income?
First Watch Restaurant Group, Inc. (FWRG) trailing twelve-month net income is $20M as of 2025. Earnings grew +3.3% year-over-year. First Watch Restaurant Group, Inc. has been profitable for 4 consecutive years.
Is FWRG profitable?
Yes, FWRG is profitable with a TTM net income of $20M and a net profit margin of +1.6%. First Watch Restaurant Group, Inc. has generated profits for 4 consecutive years.
What is FWRG's earnings growth rate?
FWRG compound annual EPS growth rates (CAGR): 1-Year: +3.3%, 3-Year: +41.3%, 5-Year: N/A, 10-Year: N/A. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 2018 to 2025.
What are FWRG's profit margins?
First Watch Restaurant Group, Inc. net profit margin is +1.6%, operating margin is +2.8%, and gross margin is +13.0%. Below-average margins reflect competitive or cost pressures. Return on Equity is +3.2%.
Is FWRG growing earnings?
FWRG earnings growth is slowing. Current YoY EPS growth of +3.3% trails the 5-year CAGR of N/A. TTM net income is $20M.
What was FWRG's best earnings year?
First Watch Restaurant Group, Inc.'s highest annual net income on record is $25M, achieved in fiscal year 2023. Earnings history on this page spans 2018 to 2025 and includes all annual and quarterly figures.
What were FWRG's earnings last quarter?
FWRG's most recent reported quarter was Q3 2026. Net income was $5M with diluted EPS of $0.08. For a full breakdown of all quarters, see the quarterly earnings table on this page.