Company / Operating Income
First Watch Restaurant Group, Inc. Operating Income History
FY2019-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Income
$27.5M
FY2025
5-year range
-$47.2M / $41.3M
FY2021-FY2025
Trend
-29.3%
vs FY2024
Sector context
#175 of 205
Consumer Discretionary
What the data says
First Watch Restaurant Group, Inc.'s operating income of $28M is lower than 85% of companies in the Consumer Discretionary sector (FY2025). Operating Income has fluctuated over the past 7 years, ranging from -$47M in FY2022 to $41M in FY2023.
Based on SEC 10-K filings.
$28M in FY2025.
Declined from $41M to $28M over the past 2 years.
Consumer Discretionary sector context is included.
Operating Income over time
Growth rates
- 3-Year CAGR
- -
- 5-Year CAGR
- -
- 10-Year CAGR
- -
Sector benchmark
Bottom 15% in Consumer DiscretionaryTop 85% of 205This company $27.5M Sector average $1.1B
▼
-97.6% below sector average
Key checks
Key Insights
- In FY2025, operating income decreased 29.3% year-over-year.
- Ranks #175 out of 205 companies in the Consumer Discretionary sector.
- Peak operating income was recorded in FY2023.
- Lowest operating income in the period was in FY2022.
Company context
Key Data Points
- Altman Z-Score 0.92 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating IncomeValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $27.5M | -29.3% |
| FY2024 | $38.9M | -5.7% |
| FY2023 | $41.3M | +187.4% |
| FY2022 | -$47.2M | -25.7% |
| FY2021 | -$37.6M | +20.5% |
| FY2020 | -$47.2M | -25.7% |
| FY2019 | -$37.6M | - |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026