First Watch Restaurant Group, I (FWRG) Margins & Profitability 2021-2026

Gross, EBITDA, operating, and net margin trends

Margins

Profit margins across the income statement

Gross Margin: 20.4%
EBITDA Margin: 8.4%
Op. Margin: 2.3%
Net Margin: 0.7%

Op. margin of 2.3% is down 0.1% YoY — costs are rising relative to revenue. Net margin at 0.7% and gross margin of 20.4% show how much of each revenue dollar survives to profit.

Gross Margin (%)

Revenue left after direct cost of goods sold

EBITDA Margin (%)

Operating profitability independent of capital structure

Operating & Net Margins (%)

How much of each dollar becomes profit