First Watch Restaurant Group, Inc. (FWRG) Earnings History
Annual and quarterly earnings data from 2018 to 2025
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FWRG EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
FWRG Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 13.0% | 2.8% | 1.6% |
| 2024 | 78.0% | 3.8% | 1.9% |
| 2023 | 21.3% | 4.6% | 2.8% |
| 2022 | 19.1% | 2.3% | 0.9% |
| 2021 | 20.7% | 3.7% | -0.4% |
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First Watch Restaurant Group, Inc. (FWRG) Earnings Overview
As of May 8, 2026, First Watch Restaurant Group, Inc. (FWRG) reported trailing twelve-month net income of $18M, reflecting +3.3% year-over-year growth. The company earned $0.29 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 DENN ($10M net income, 4.8% margin), CBRL (-$4M net income, 1.3% margin), BJRI ($44M net income, 3.5% margin), FWRG has room to improve margins relative to the peer group. Compare FWRG vs DENN →
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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Start ComparisonFWRG — Frequently Asked Questions
Quick answers to the most common questions about buying FWRG stock.
Is FWRG growing earnings?
FWRG EPS of $0.29 reflects slowing growth at +3.3%, below the 5-year CAGR of N/A. TTM net income is $18M. Expansion rate has moderated.
What are FWRG's profit margins?
First Watch Restaurant Group, Inc. net margin is +1.6%, with operating margin at +2.8%. Below-average margins reflect competitive or cost pressures.
How consistent are FWRG's earnings?
FWRG earnings data spans 2018-2025. The current earnings trend is +3.3% YoY. Historical data enables comparison across business cycles.