Financials in USD. Standardized financial statements.
A compact view of how First Watch Restaurant Group, Inc. turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue? | $1.22B | $1.02B | $891.55M | $730.16M | $601.19M | $342.39M | $436.37M | $349.77M |
| Revenue Growth? | +20.3% | +13.9% | +22.1% | +21.5% | +75.6% | -21.5% | +24.8% | 0.0% |
| Cost of Revenue? | $1.06B | $223.10M | $701.43M | $590.63M | $476.96M | $312.51M | $348.96M | $278.40M |
| Gross Profit? | $159.44M | $792.81M | $190.12M | $139.53M | $124.23M | $29.88M | $87.41M | $71.36M |
| Gross Margin? | +13.0% | +78.0% | +21.3% | +19.1% | +20.7% | +8.7% | +20.0% | +20.4% |
| Operating Expenses? | $125.67M | $753.91M | $148.85M | $122.62M | $101.99M | $77.10M | $124.97M | $68.13M |
| Operating Income? | $33.77M | $38.91M | $41.27M | $16.91M | $22.24M | -$47.22M | -$37.56M | $3.23M |
| EBITDA? | $108.78M | $98.38M | $85.36M | $52.05M | $52.85M | -$16.01M | -$9.78M | $33.83M |
| Income Before Tax | $12.13M | $28.03M | $36.08M | $12.59M | $370,000 | -$69.55M | -$57.89M | -$12.52M |
| Income Tax Expense | -$7.30M | $9.10M | $10.69M | $5.68M | $2.48M | -$19.87M | -$12.42M | -$221,000 |
| Net Income? | $19.43M | $18.93M | $25.39M | $6.91M | -$2.11M | -$49.68M | -$45.44M | -$12.30M |
| EPS? | $0.32 | $0.31 | $0.43 | $0.12 | $-0.04 | $-0.86 | $-0.79 | $-0.27 |
| Diluted EPS? | $0.31 | $0.30 | $0.41 | $0.11 | $-0.04 | $-0.86 | $-0.79 | $-0.27 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality