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APPFOLIO INC（APPF）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APPFOLIO INC的1.2倍（$316.4M vs $262.2M），APPFOLIO INC同比增速更快（20.4% vs 20.2%），过去两年APPFOLIO INC的营收复合增速更高（15.3% vs 14.2%）
AppFolio Inc.是一家2006年成立的美国企业，专注服务房地产行业，为客户提供软件即服务（SaaS）类应用产品及相关配套服务，助力房地产相关经营主体优化管理流程、提升运营效率。
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。
APPF vs FWRG — 直观对比
营收规模更大
FWRG
是对方的1.2倍
$262.2M
营收增速更快
APPF
高出0.3%
20.2%
两年增速更快
APPF
近两年复合增速
14.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $262.2M | $316.4M |
| 净利润 | $42.4M | — |
| 毛利率 | — | — |
| 营业利润率 | 19.4% | 2.9% |
| 净利率 | 16.2% | — |
| 营收同比 | 20.4% | 20.2% |
| 净利润同比 | 35.2% | — |
| 每股收益（稀释后） | $1.18 | $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APPFFWRG
| Q1 26 | $262.2M | — | ||
| Q4 25 | $248.2M | $316.4M | ||
| Q3 25 | $249.4M | $316.0M | ||
| Q2 25 | $235.6M | $307.9M | ||
| Q1 25 | $217.7M | $282.2M | ||
| Q4 24 | $203.7M | $263.3M | ||
| Q3 24 | $205.7M | $251.6M | ||
| Q2 24 | $197.4M | $258.6M |
净利润APPFFWRG
| Q1 26 | $42.4M | — | ||
| Q4 25 | $39.9M | — | ||
| Q3 25 | $33.6M | $3.0M | ||
| Q2 25 | $36.0M | $2.1M | ||
| Q1 25 | $31.4M | $-829.0K | ||
| Q4 24 | $102.7M | — | ||
| Q3 24 | $33.0M | $2.1M | ||
| Q2 24 | $29.7M | $8.9M |
营业利润率APPFFWRG
| Q1 26 | 19.4% | — | ||
| Q4 25 | 17.6% | 2.9% | ||
| Q3 25 | 14.1% | 3.2% | ||
| Q2 25 | 17.2% | 2.4% | ||
| Q1 25 | 15.5% | 0.4% | ||
| Q4 24 | 11.3% | 1.5% | ||
| Q3 24 | 20.7% | 2.5% | ||
| Q2 24 | 18.3% | 6.4% |
净利率APPFFWRG
| Q1 26 | 16.2% | — | ||
| Q4 25 | 16.1% | — | ||
| Q3 25 | 13.5% | 0.9% | ||
| Q2 25 | 15.3% | 0.7% | ||
| Q1 25 | 14.4% | -0.3% | ||
| Q4 24 | 50.4% | — | ||
| Q3 24 | 16.0% | 0.8% | ||
| Q2 24 | 15.0% | 3.4% |
每股收益（稀释后）APPFFWRG
| Q1 26 | $1.18 | — | ||
| Q4 25 | $1.10 | $0.24 | ||
| Q3 25 | $0.93 | $0.05 | ||
| Q2 25 | $0.99 | $0.03 | ||
| Q1 25 | $0.86 | $-0.01 | ||
| Q4 24 | $2.79 | $0.01 | ||
| Q3 24 | $0.90 | $0.03 | ||
| Q2 24 | $0.81 | $0.14 |
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 | $147.4M | $21.2M |
| 总债务越低越好 | — | $269.1M |
| 股东权益账面价值 | $470.2M | $626.3M |
| 总资产 | $580.6M | $1.7B |
| 负债/权益比越低杠杆越低 | — | 0.43× |
8季度趋势，按日历期对齐
现金及短期投资APPFFWRG
| Q1 26 | $147.4M | — | ||
| Q4 25 | $107.0M | $21.2M | ||
| Q3 25 | $76.1M | $20.7M | ||
| Q2 25 | $73.5M | $19.2M | ||
| Q1 25 | $56.9M | $18.6M | ||
| Q4 24 | $42.5M | $33.3M | ||
| Q3 24 | $62.4M | $51.1M | ||
| Q2 24 | $59.6M | $45.1M |
总债务APPFFWRG
| Q1 26 | — | — | ||
| Q4 25 | — | $269.1M | ||
| Q3 25 | — | $251.0M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $191.5M | ||
| Q4 24 | — | $189.0M | ||
| Q3 24 | — | $189.7M | ||
| Q2 24 | — | $192.1M |
股东权益APPFFWRG
| Q1 26 | $470.2M | — | ||
| Q4 25 | $542.6M | $626.3M | ||
| Q3 25 | $498.9M | $607.3M | ||
| Q2 25 | $455.6M | $601.3M | ||
| Q1 25 | $462.1M | $596.3M | ||
| Q4 24 | $519.3M | $595.4M | ||
| Q3 24 | $412.8M | $589.1M | ||
| Q2 24 | $371.4M | $585.8M |
总资产APPFFWRG
| Q1 26 | $580.6M | — | ||
| Q4 25 | $689.0M | $1.7B | ||
| Q3 25 | $640.5M | $1.7B | ||
| Q2 25 | $567.4M | $1.7B | ||
| Q1 25 | $564.7M | $1.5B | ||
| Q4 24 | $626.7M | $1.5B | ||
| Q3 24 | $523.3M | $1.5B | ||
| Q2 24 | $479.3M | $1.4B |
负债/权益比APPFFWRG
| Q1 26 | — | — | ||
| Q4 25 | — | 0.43× | ||
| Q3 25 | — | 0.41× | ||
| Q2 25 | — | 0.42× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.32× | ||
| Q2 24 | — | 0.33× |
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 | $34.3M | $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 | 0.81× | — |
| 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APPFFWRG
| Q1 26 | $34.3M | — | ||
| Q4 25 | $65.0M | $18.5M | ||
| Q3 25 | $86.0M | $47.9M | ||
| Q2 25 | $52.6M | $39.4M | ||
| Q1 25 | $38.5M | $20.1M | ||
| Q4 24 | $36.6M | $22.9M | ||
| Q3 24 | $57.8M | $35.9M | ||
| Q2 24 | $50.9M | $31.9M |
自由现金流APPFFWRG
| Q1 26 | — | — | ||
| Q4 25 | $63.7M | $-18.3M | ||
| Q3 25 | $84.7M | $5.5M | ||
| Q2 25 | $52.4M | $-1.7M | ||
| Q1 25 | $38.2M | $-16.4M | ||
| Q4 24 | $36.4M | $-17.7M | ||
| Q3 24 | $57.4M | $6.8M | ||
| Q2 24 | $50.8M | $2.3M |
自由现金流率APPFFWRG
| Q1 26 | — | — | ||
| Q4 25 | 25.7% | -5.8% | ||
| Q3 25 | 34.0% | 1.7% | ||
| Q2 25 | 22.2% | -0.5% | ||
| Q1 25 | 17.6% | -5.8% | ||
| Q4 24 | 17.9% | -6.7% | ||
| Q3 24 | 27.9% | 2.7% | ||
| Q2 24 | 25.8% | 0.9% |
资本支出强度APPFFWRG
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 11.6% | ||
| Q3 25 | 0.5% | 13.4% | ||
| Q2 25 | 0.1% | 13.4% | ||
| Q1 25 | 0.1% | 13.0% | ||
| Q4 24 | 0.1% | 15.4% | ||
| Q3 24 | 0.2% | 11.6% | ||
| Q2 24 | 0.0% | 11.5% |
现金转化率APPFFWRG
| Q1 26 | 0.81× | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 2.56× | 16.01× | ||
| Q2 25 | 1.46× | 18.72× | ||
| Q1 25 | 1.23× | — | ||
| Q4 24 | 0.36× | — | ||
| Q3 24 | 1.75× | 16.98× | ||
| Q2 24 | 1.71× | 3.59× |
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
APPF
| Value Added Services | $164.7M | 63% |
| Subscription Services | $58.2M | 22% |
| Other | $39.3M | 15% |
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% |
