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ASSOCIATED BANC-CORP（ASB）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
ASSOCIATED BANC-CORP的季度营收约是First Watch Restaurant Group, Inc.的1.2倍（$383.0M vs $316.4M），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs 9.1%）
联合银行集团（Associated Banc-Corp）是美国区域性银行控股公司，总部位于威斯康星州格林贝，深耕美国中西部地区，主营零售银行、商业银行、商业地产贷款、私人银行及特色金融服务，在威斯康星州、伊利诺伊州、明尼苏达州设有220多个营业网点，覆盖100多个社区，还在印第安纳、密歇根等多州设有贷款办事处。
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。
ASB vs FWRG — 直观对比
营收规模更大
ASB
是对方的1.2倍
$316.4M
两年增速更快
FWRG
近两年复合增速
9.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $383.0M | $316.4M |
| 净利润 | $119.6M | — |
| 毛利率 | — | — |
| 营业利润率 | — | 2.9% |
| 净利率 | 31.2% | — |
| 营收同比 | — | 20.2% |
| 净利润同比 | 566.6% | — |
| 每股收益（稀释后） | $0.70 | $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ASBFWRG
| Q1 26 | $383.0M | — | ||
| Q4 25 | $310.0M | $316.4M | ||
| Q3 25 | $305.2M | $316.0M | ||
| Q2 25 | $300.0M | $307.9M | ||
| Q1 25 | $285.9M | $282.2M | ||
| Q4 24 | $270.3M | $263.3M | ||
| Q3 24 | $329.7M | $251.6M | ||
| Q2 24 | $321.8M | $258.6M |
净利润ASBFWRG
| Q1 26 | $119.6M | — | ||
| Q4 25 | $137.1M | — | ||
| Q3 25 | $124.7M | $3.0M | ||
| Q2 25 | $111.2M | $2.1M | ||
| Q1 25 | $101.7M | $-829.0K | ||
| Q4 24 | $-161.6M | — | ||
| Q3 24 | $88.0M | $2.1M | ||
| Q2 24 | $115.6M | $8.9M |
营业利润率ASBFWRG
| Q1 26 | — | — | ||
| Q4 25 | 52.6% | 2.9% | ||
| Q3 25 | 50.5% | 3.2% | ||
| Q2 25 | 46.5% | 2.4% | ||
| Q1 25 | 42.3% | 0.4% | ||
| Q4 24 | -65.8% | 1.5% | ||
| Q3 24 | 32.8% | 2.5% | ||
| Q2 24 | 32.0% | 6.4% |
净利率ASBFWRG
| Q1 26 | 31.2% | — | ||
| Q4 25 | 44.2% | — | ||
| Q3 25 | 40.9% | 0.9% | ||
| Q2 25 | 37.1% | 0.7% | ||
| Q1 25 | 35.6% | -0.3% | ||
| Q4 24 | -59.8% | — | ||
| Q3 24 | 26.7% | 0.8% | ||
| Q2 24 | 35.9% | 3.4% |
每股收益（稀释后）ASBFWRG
| Q1 26 | $0.70 | — | ||
| Q4 25 | $0.80 | $0.24 | ||
| Q3 25 | $0.73 | $0.05 | ||
| Q2 25 | $0.65 | $0.03 | ||
| Q1 25 | $0.59 | $-0.01 | ||
| Q4 24 | $-1.10 | $0.01 | ||
| Q3 24 | $0.56 | $0.03 | ||
| Q2 24 | $0.74 | $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 | — | $21.2M |
| 总债务越低越好 | — | $269.1M |
| 股东权益账面价值 | $5.0B | $626.3M |
| 总资产 | $45.6B | $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ASBFWRG
| Q1 26 | — | — | ||
| Q4 25 | — | $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 |
总债务ASBFWRG
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $269.1M | ||
| Q3 25 | $594.1M | $251.0M | ||
| Q2 25 | $593.5M | $250.0M | ||
| Q1 25 | $591.4M | $191.5M | ||
| Q4 24 | $1.4B | $189.0M | ||
| Q3 24 | $844.3M | $189.7M | ||
| Q2 24 | $536.1M | $192.1M |
股东权益ASBFWRG
| Q1 26 | $5.0B | — | ||
| Q4 25 | $5.0B | $626.3M | ||
| Q3 25 | $4.9B | $607.3M | ||
| Q2 25 | $4.8B | $601.3M | ||
| Q1 25 | $4.7B | $596.3M | ||
| Q4 24 | $4.6B | $595.4M | ||
| Q3 24 | $4.4B | $589.1M | ||
| Q2 24 | $4.2B | $585.8M |
总资产ASBFWRG
| Q1 26 | $45.6B | — | ||
| Q4 25 | $45.2B | $1.7B | ||
| Q3 25 | $44.5B | $1.7B | ||
| Q2 25 | $44.0B | $1.7B | ||
| Q1 25 | $43.3B | $1.5B | ||
| Q4 24 | $43.0B | $1.5B | ||
| Q3 24 | $42.2B | $1.5B | ||
| Q2 24 | $41.6B | $1.4B |
负债/权益比ASBFWRG
| Q1 26 | — | — | ||
| Q4 25 | 0.20× | 0.43× | ||
| Q3 25 | 0.12× | 0.41× | ||
| Q2 25 | 0.12× | 0.42× | ||
| Q1 25 | 0.13× | 0.32× | ||
| Q4 24 | 0.31× | 0.32× | ||
| Q3 24 | 0.19× | 0.32× | ||
| Q2 24 | 0.13× | 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 | — | $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 | — | — |
| 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ASBFWRG
| Q1 26 | — | — | ||
| Q4 25 | $218.1M | $18.5M | ||
| Q3 25 | $158.0M | $47.9M | ||
| Q2 25 | $141.5M | $39.4M | ||
| Q1 25 | $98.2M | $20.1M | ||
| Q4 24 | $207.1M | $22.9M | ||
| Q3 24 | $105.1M | $35.9M | ||
| Q2 24 | $113.5M | $31.9M |
自由现金流ASBFWRG
| Q1 26 | — | — | ||
| Q4 25 | — | $-18.3M | ||
| Q3 25 | — | $5.5M | ||
| Q2 25 | — | $-1.7M | ||
| Q1 25 | — | $-16.4M | ||
| Q4 24 | — | $-17.7M | ||
| Q3 24 | — | $6.8M | ||
| Q2 24 | — | $2.3M |
自由现金流率ASBFWRG
| Q1 26 | — | — | ||
| Q4 25 | — | -5.8% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | -0.5% | ||
| Q1 25 | — | -5.8% | ||
| Q4 24 | — | -6.7% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 0.9% |
资本支出强度ASBFWRG
| Q1 26 | — | — | ||
| Q4 25 | — | 11.6% | ||
| Q3 25 | — | 13.4% | ||
| Q2 25 | — | 13.4% | ||
| Q1 25 | — | 13.0% | ||
| Q4 24 | — | 15.4% | ||
| Q3 24 | — | 11.6% | ||
| Q2 24 | — | 11.5% |
现金转化率ASBFWRG
| Q1 26 | — | — | ||
| Q4 25 | 1.59× | — | ||
| Q3 25 | 1.27× | 16.01× | ||
| Q2 25 | 1.27× | 18.72× | ||
| Q1 25 | 0.97× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.19× | 16.98× | ||
| Q2 24 | 0.98× | 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
ASB
| Net Interest Income | $307.2M | 80% |
| Noninterest Income | $75.9M | 20% |
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% |
