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Antero Midstream Corp（AM）与First Watch Restaurant Group, Inc.（FWRG）财务数据对比。点击上方公司名可切换其他公司
First Watch Restaurant Group, Inc.的季度营收约是Antero Midstream Corp的1.1倍（$316.4M vs $297.0M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs 3.3%），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs 3.2%）
Antero Midstream Corp是美国能源企业，注册地为特拉华州，总部设于科罗拉多州丹佛市。公司全部油气储量均位于阿巴拉契亚盆地，采用水力压裂技术开采，核心业务涵盖油气勘探开发相关领域。
该企业原信息存在公司混淆错误，实际First Watch Restaurant Group是美国餐饮集团，主打鲜制早餐、早午餐与午餐，在美国多个州运营自营与特许加盟餐厅，聚焦日间休闲餐饮市场，为消费者提供新鲜健康的美式餐食选择。
AM vs FWRG — 直观对比
营收规模更大
FWRG
是对方的1.1倍
$297.0M
营收增速更快
FWRG
高出16.8%
3.3%
两年增速更快
FWRG
近两年复合增速
3.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $297.0M | $316.4M |
| 净利润 | $51.9M | — |
| 毛利率 | — | — |
| 营业利润率 | 33.8% | 2.9% |
| 净利率 | 17.5% | — |
| 营收同比 | 3.3% | 20.2% |
| 净利润同比 | -53.3% | — |
| 每股收益（稀释后） | $0.11 | $0.24 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AMFWRG
| Q4 25 | $297.0M | $316.4M | ||
| Q3 25 | $294.8M | $316.0M | ||
| Q2 25 | $305.5M | $307.9M | ||
| Q1 25 | $291.1M | $282.2M | ||
| Q4 24 | $287.5M | $263.3M | ||
| Q3 24 | $269.9M | $251.6M | ||
| Q2 24 | $269.8M | $258.6M | ||
| Q1 24 | $279.1M | $242.4M |
净利润AMFWRG
| Q4 25 | $51.9M | — | ||
| Q3 25 | $116.0M | $3.0M | ||
| Q2 25 | $124.5M | $2.1M | ||
| Q1 25 | $120.7M | $-829.0K | ||
| Q4 24 | $111.2M | — | ||
| Q3 24 | $99.7M | $2.1M | ||
| Q2 24 | $86.0M | $8.9M | ||
| Q1 24 | $103.9M | $7.2M |
营业利润率AMFWRG
| Q4 25 | 33.8% | 2.9% | ||
| Q3 25 | 61.2% | 3.2% | ||
| Q2 25 | 61.0% | 2.4% | ||
| Q1 25 | 60.9% | 0.4% | ||
| Q4 24 | 61.8% | 1.5% | ||
| Q3 24 | 60.2% | 2.5% | ||
| Q2 24 | 56.6% | 6.4% | ||
| Q1 24 | 59.6% | 5.1% |
净利率AMFWRG
| Q4 25 | 17.5% | — | ||
| Q3 25 | 39.3% | 0.9% | ||
| Q2 25 | 40.8% | 0.7% | ||
| Q1 25 | 41.5% | -0.3% | ||
| Q4 24 | 38.7% | — | ||
| Q3 24 | 37.0% | 0.8% | ||
| Q2 24 | 31.9% | 3.4% | ||
| Q1 24 | 37.2% | 3.0% |
每股收益（稀释后）AMFWRG
| Q4 25 | $0.11 | $0.24 | ||
| Q3 25 | $0.24 | $0.05 | ||
| Q2 25 | $0.26 | $0.03 | ||
| Q1 25 | $0.25 | $-0.01 | ||
| Q4 24 | $0.23 | $0.01 | ||
| Q3 24 | $0.21 | $0.03 | ||
| Q2 24 | $0.18 | $0.14 | ||
| Q1 24 | $0.21 | $0.12 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $180.4M | $21.2M |
| 总债务越低越好 | $3.2B | $269.1M |
| 股东权益账面价值 | $2.0B | $626.3M |
| 总资产 | $5.9B | $1.7B |
| 负债/权益比越低杠杆越低 | 1.63× | 0.43× |
8季度趋势，按日历期对齐
现金及短期投资AMFWRG
| Q4 25 | $180.4M | $21.2M | ||
| Q3 25 | — | $20.7M | ||
| Q2 25 | — | $19.2M | ||
| Q1 25 | — | $18.6M | ||
| Q4 24 | — | $33.3M | ||
| Q3 24 | — | $51.1M | ||
| Q2 24 | — | $45.1M | ||
| Q1 24 | $26.1M | $43.2M |
总债务AMFWRG
| Q4 25 | $3.2B | $269.1M | ||
| Q3 25 | $3.0B | $251.0M | ||
| Q2 25 | $3.0B | $250.0M | ||
| Q1 25 | $3.1B | $191.5M | ||
| Q4 24 | $3.1B | $189.0M | ||
| Q3 24 | $3.2B | $189.7M | ||
| Q2 24 | $3.2B | $192.1M | ||
| Q1 24 | $3.2B | $122.7M |
股东权益AMFWRG
| Q4 25 | $2.0B | $626.3M | ||
| Q3 25 | $2.1B | $607.3M | ||
| Q2 25 | $2.1B | $601.3M | ||
| Q1 25 | $2.1B | $596.3M | ||
| Q4 24 | $2.1B | $595.4M | ||
| Q3 24 | $2.1B | $589.1M | ||
| Q2 24 | $2.1B | $585.8M | ||
| Q1 24 | $2.2B | $574.4M |
总资产AMFWRG
| Q4 25 | $5.9B | $1.7B | ||
| Q3 25 | $5.7B | $1.7B | ||
| Q2 25 | $5.7B | $1.7B | ||
| Q1 25 | $5.8B | $1.5B | ||
| Q4 24 | $5.8B | $1.5B | ||
| Q3 24 | $5.8B | $1.5B | ||
| Q2 24 | $5.8B | $1.4B | ||
| Q1 24 | $5.7B | $1.3B |
负债/权益比AMFWRG
| Q4 25 | 1.63× | 0.43× | ||
| Q3 25 | 1.46× | 0.41× | ||
| Q2 25 | 1.45× | 0.42× | ||
| Q1 25 | 1.49× | 0.32× | ||
| Q4 24 | 1.47× | 0.32× | ||
| Q3 24 | 1.49× | 0.32× | ||
| Q2 24 | 1.50× | 0.33× | ||
| Q1 24 | 1.48× | 0.21× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $255.5M | $18.5M |
| 自由现金流经营现金流 - 资本支出 | — | $-18.3M |
| 自由现金流率自由现金流/营收 | — | -5.8% |
| 资本支出强度资本支出/营收 | — | 11.6% |
| 现金转化率经营现金流/净利润 | 4.92× | — |
| 过去12个月自由现金流最近4个季度 | — | $-31.0M |
8季度趋势，按日历期对齐
经营现金流AMFWRG
| Q4 25 | $255.5M | $18.5M | ||
| Q3 25 | $212.8M | $47.9M | ||
| Q2 25 | $265.2M | $39.4M | ||
| Q1 25 | $198.9M | $20.1M | ||
| Q4 24 | $232.7M | $22.9M | ||
| Q3 24 | $184.9M | $35.9M | ||
| Q2 24 | $215.8M | $31.9M | ||
| Q1 24 | $210.6M | $25.0M |
自由现金流AMFWRG
| Q4 25 | — | $-18.3M | ||
| Q3 25 | — | $5.5M | ||
| Q2 25 | — | $-1.7M | ||
| Q1 25 | — | $-16.4M | ||
| Q4 24 | — | $-17.7M | ||
| Q3 24 | $184.3M | $6.8M | ||
| Q2 24 | $147.2M | $2.3M | ||
| Q1 24 | $208.5M | $-3.6M |
自由现金流率AMFWRG
| Q4 25 | — | -5.8% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | -0.5% | ||
| Q1 25 | — | -5.8% | ||
| Q4 24 | — | -6.7% | ||
| Q3 24 | 68.3% | 2.7% | ||
| Q2 24 | 54.6% | 0.9% | ||
| Q1 24 | 74.7% | -1.5% |
资本支出强度AMFWRG
| Q4 25 | — | 11.6% | ||
| Q3 25 | — | 13.4% | ||
| Q2 25 | — | 13.4% | ||
| Q1 25 | — | 13.0% | ||
| Q4 24 | 0.0% | 15.4% | ||
| Q3 24 | 0.2% | 11.6% | ||
| Q2 24 | 25.4% | 11.5% | ||
| Q1 24 | 0.7% | 11.8% |
现金转化率AMFWRG
| Q4 25 | 4.92× | — | ||
| Q3 25 | 1.84× | 16.01× | ||
| Q2 25 | 2.13× | 18.72× | ||
| Q1 25 | 1.65× | — | ||
| Q4 24 | 2.09× | — | ||
| Q3 24 | 1.85× | 16.98× | ||
| Q2 24 | 2.51× | 3.59× | ||
| Q1 24 | 2.03× | 3.46× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AM
| Gathering Low Pressure | $114.2M | 38% |
| Natural Gas Water Handling And Treatment Affiliate | $63.2M | 21% |
| Water Handling | $55.7M | 19% |
| Fresh Water Delivery | $37.2M | 13% |
| Other Fluid Handling | $26.9M | 9% |
FWRG
| In Restaurant Dining Sales | $254.1M | 80% |
| Third Party Delivery Sales | $38.6M | 12% |
| Take Out Sales | $21.3M | 7% |
| Royalty And System Fund Contributions | $2.3M | 1% |
