vs
Apple Hospitality REIT, Inc.（APLE）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
Apple Hospitality REIT, Inc.的季度营收约是First Watch Restaurant Group, Inc.的1.0倍（$326.4M vs $316.4M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs -2.0%），Apple Hospitality REIT, Inc.自由现金流更多（$282.0M vs $-18.3M），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs -0.5%）
莱曼 hospitality properties是一家深耕酒店、度假村、娱乐及媒体领域的企业，得名于旗下核心资产——位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾作为爱德华·盖洛德旗下俄克拉荷马出版公司子公司的时期，1983年收购WSM公司后，拿下大奥普里等知名IP，奠定了如今的业务发展基础。
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。
APLE vs FWRG — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $326.4M | $316.4M |
| 净利润 | $29.6M | — |
| 毛利率 | 37.2% | — |
| 营业利润率 | 15.2% | 2.9% |
| 净利率 | 9.1% | — |
| 营收同比 | -2.0% | 20.2% |
| 净利润同比 | -0.7% | — |
| 每股收益（稀释后） | $0.13 | $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
| Q4 25 | $326.4M | $316.4M | ||
| Q3 25 | $373.9M | $316.0M | ||
| Q2 25 | $384.4M | $307.9M | ||
| Q1 25 | $327.7M | $282.2M | ||
| Q4 24 | $333.0M | $263.3M | ||
| Q3 24 | $378.8M | $251.6M | ||
| Q2 24 | $390.1M | $258.6M | ||
| Q1 24 | $329.5M | $242.4M |
| Q4 25 | $29.6M | — | ||
| Q3 25 | $50.9M | $3.0M | ||
| Q2 25 | $63.6M | $2.1M | ||
| Q1 25 | $31.2M | $-829.0K | ||
| Q4 24 | $29.8M | — | ||
| Q3 24 | $56.3M | $2.1M | ||
| Q2 24 | $73.9M | $8.9M | ||
| Q1 24 | $54.0M | $7.2M |
| Q4 25 | 37.2% | — | ||
| Q3 25 | 40.6% | — | ||
| Q2 25 | 42.6% | — | ||
| Q1 25 | 39.0% | — | ||
| Q4 24 | 38.6% | — | ||
| Q3 24 | 41.9% | — | ||
| Q2 24 | 44.6% | — | ||
| Q1 24 | 40.1% | — |
| Q4 25 | 15.2% | 2.9% | ||
| Q3 25 | 19.4% | 3.2% | ||
| Q2 25 | 22.1% | 2.4% | ||
| Q1 25 | 15.5% | 0.4% | ||
| Q4 24 | 15.0% | 1.5% | ||
| Q3 24 | 20.5% | 2.5% | ||
| Q2 24 | 24.0% | 6.4% | ||
| Q1 24 | 21.7% | 5.1% |
| Q4 25 | 9.1% | — | ||
| Q3 25 | 13.6% | 0.9% | ||
| Q2 25 | 16.6% | 0.7% | ||
| Q1 25 | 9.5% | -0.3% | ||
| Q4 24 | 9.0% | — | ||
| Q3 24 | 14.9% | 0.8% | ||
| Q2 24 | 19.0% | 3.4% | ||
| Q1 24 | 16.4% | 3.0% |
| Q4 25 | $0.13 | $0.24 | ||
| Q3 25 | $0.21 | $0.05 | ||
| Q2 25 | $0.27 | $0.03 | ||
| Q1 25 | $0.13 | $-0.01 | ||
| Q4 24 | $0.13 | $0.01 | ||
| Q3 24 | $0.23 | $0.03 | ||
| Q2 24 | $0.31 | $0.14 | ||
| Q1 24 | $0.22 | $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 | $8.5M | $21.2M |
| 总债务越低越好 | $1.5B | $269.1M |
| 股东权益账面价值 | $3.1B | $626.3M |
| 总资产 | $4.9B | $1.7B |
| 负债/权益比越低杠杆越低 | 0.49× | 0.43× |
8季度趋势，按日历期对齐
| Q4 25 | $8.5M | $21.2M | ||
| Q3 25 | $50.3M | $20.7M | ||
| Q2 25 | $7.9M | $19.2M | ||
| Q1 25 | $14.9M | $18.6M | ||
| Q4 24 | $10.3M | $33.3M | ||
| Q3 24 | $6.1M | $51.1M | ||
| Q2 24 | $7.2M | $45.1M | ||
| Q1 24 | $4.9M | $43.2M |
| Q4 25 | $1.5B | $269.1M | ||
| Q3 25 | $1.5B | $251.0M | ||
| Q2 25 | $1.5B | $250.0M | ||
| Q1 25 | $1.5B | $191.5M | ||
| Q4 24 | $1.5B | $189.0M | ||
| Q3 24 | $1.5B | $189.7M | ||
| Q2 24 | $1.5B | $192.1M | ||
| Q1 24 | $1.5B | $122.7M |
| Q4 25 | $3.1B | $626.3M | ||
| Q3 25 | $3.2B | $607.3M | ||
| Q2 25 | $3.2B | $601.3M | ||
| Q1 25 | $3.2B | $596.3M | ||
| Q4 24 | $3.3B | $595.4M | ||
| Q3 24 | $3.3B | $589.1M | ||
| Q2 24 | $3.3B | $585.8M | ||
| Q1 24 | $3.3B | $574.4M |
| Q4 25 | $4.9B | $1.7B | ||
| Q3 25 | $4.9B | $1.7B | ||
| Q2 25 | $4.9B | $1.7B | ||
| Q1 25 | $4.9B | $1.5B | ||
| Q4 24 | $5.0B | $1.5B | ||
| Q3 24 | $5.0B | $1.5B | ||
| Q2 24 | $5.1B | $1.4B | ||
| Q1 24 | $5.0B | $1.3B |
| Q4 25 | 0.49× | 0.43× | ||
| Q3 25 | 0.47× | 0.41× | ||
| Q2 25 | 0.48× | 0.42× | ||
| Q1 25 | 0.48× | 0.32× | ||
| Q4 24 | 0.45× | 0.32× | ||
| Q3 24 | 0.46× | 0.32× | ||
| Q2 24 | 0.46× | 0.33× | ||
| Q1 24 | 0.45× | 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 | $370.2M | $18.5M |
| 自由现金流经营现金流 - 资本支出 | $282.0M | $-18.3M |
| 自由现金流率自由现金流/营收 | 86.4% | -5.8% |
| 资本支出强度资本支出/营收 | 27.0% | 11.6% |
| 现金转化率经营现金流/净利润 | 12.50× | — |
| 过去12个月自由现金流最近4个季度 | $516.8M | $-31.0M |
8季度趋势，按日历期对齐
| Q4 25 | $370.2M | $18.5M | ||
| Q3 25 | $126.4M | $47.9M | ||
| Q2 25 | $108.8M | $39.4M | ||
| Q1 25 | $49.1M | $20.1M | ||
| Q4 24 | $405.4M | $22.9M | ||
| Q3 24 | $128.2M | $35.9M | ||
| Q2 24 | $127.3M | $31.9M | ||
| Q1 24 | $54.7M | $25.0M |
| Q4 25 | $282.0M | $-18.3M | ||
| Q3 25 | $109.0M | $5.5M | ||
| Q2 25 | $96.2M | $-1.7M | ||
| Q1 25 | $29.5M | $-16.4M | ||
| Q4 24 | $327.1M | $-17.7M | ||
| Q3 24 | $113.1M | $6.8M | ||
| Q2 24 | $115.0M | $2.3M | ||
| Q1 24 | $34.4M | $-3.6M |
| Q4 25 | 86.4% | -5.8% | ||
| Q3 25 | 29.2% | 1.7% | ||
| Q2 25 | 25.0% | -0.5% | ||
| Q1 25 | 9.0% | -5.8% | ||
| Q4 24 | 98.2% | -6.7% | ||
| Q3 24 | 29.9% | 2.7% | ||
| Q2 24 | 29.5% | 0.9% | ||
| Q1 24 | 10.4% | -1.5% |
| Q4 25 | 27.0% | 11.6% | ||
| Q3 25 | 4.7% | 13.4% | ||
| Q2 25 | 3.3% | 13.4% | ||
| Q1 25 | 6.0% | 13.0% | ||
| Q4 24 | 23.5% | 15.4% | ||
| Q3 24 | 4.0% | 11.6% | ||
| Q2 24 | 3.2% | 11.5% | ||
| Q1 24 | 6.2% | 11.8% |
| Q4 25 | 12.50× | — | ||
| Q3 25 | 2.49× | 16.01× | ||
| Q2 25 | 1.71× | 18.72× | ||
| Q1 25 | 1.57× | — | ||
| Q4 24 | 13.59× | — | ||
| Q3 24 | 2.28× | 16.98× | ||
| Q2 24 | 1.72× | 3.59× | ||
| Q1 24 | 1.01× | 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
APLE
| Occupancy | $293.0M | 90% |
| Hotel Other | $17.2M | 5% |
| Food And Beverage | $16.3M | 5% |
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% |
