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COMMERCE BANCSHARES INC（CBSH）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
COMMERCE BANCSHARES INC的季度营收约是First Watch Restaurant Group, Inc.的1.5倍（$475.7M vs $316.4M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs 11.1%），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs 7.1%）
Commerce Bancshares, Inc.是总部位于美国密苏里州的区域性银行控股公司，在堪萨斯城和圣路易斯设有核心办公点，旗下Commerce Bank提供多元化金融服务，覆盖企业及个人银行、财富管理、关联公司投资等业务。
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。
CBSH vs FWRG — 直观对比
营收规模更大
CBSH
是对方的1.5倍
$316.4M
营收增速更快
FWRG
高出9.0%
11.1%
两年增速更快
FWRG
近两年复合增速
7.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $475.7M | $316.4M |
| 净利润 | $141.6M | — |
| 毛利率 | — | — |
| 营业利润率 | — | 2.9% |
| 净利率 | 29.8% | — |
| 营收同比 | 11.1% | 20.2% |
| 净利润同比 | 10.5% | — |
| 每股收益（稀释后） | $0.96 | $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CBSHFWRG
| Q1 26 | $475.7M | — | ||
| Q4 25 | $449.4M | $316.4M | ||
| Q3 25 | $441.0M | $316.0M | ||
| Q2 25 | $445.8M | $307.9M | ||
| Q1 25 | $428.1M | $282.2M | ||
| Q4 24 | $422.1M | $263.3M | ||
| Q3 24 | $421.4M | $251.6M | ||
| Q2 24 | $414.5M | $258.6M |
净利润CBSHFWRG
| Q1 26 | $141.6M | — | ||
| Q4 25 | $140.7M | — | ||
| Q3 25 | $141.5M | $3.0M | ||
| Q2 25 | $152.5M | $2.1M | ||
| Q1 25 | $131.6M | $-829.0K | ||
| Q4 24 | $136.1M | — | ||
| Q3 24 | $138.0M | $2.1M | ||
| Q2 24 | $139.6M | $8.9M |
营业利润率CBSHFWRG
| Q1 26 | — | — | ||
| Q4 25 | 40.8% | 2.9% | ||
| Q3 25 | 41.9% | 3.2% | ||
| Q2 25 | 44.0% | 2.4% | ||
| Q1 25 | 39.2% | 0.4% | ||
| Q4 24 | 41.2% | 1.5% | ||
| Q3 24 | 42.4% | 2.5% | ||
| Q2 24 | 43.4% | 6.4% |
净利率CBSHFWRG
| Q1 26 | 29.8% | — | ||
| Q4 25 | 31.3% | — | ||
| Q3 25 | 32.1% | 0.9% | ||
| Q2 25 | 34.2% | 0.7% | ||
| Q1 25 | 30.7% | -0.3% | ||
| Q4 24 | 32.2% | — | ||
| Q3 24 | 32.8% | 0.8% | ||
| Q2 24 | 33.7% | 3.4% |
每股收益（稀释后）CBSHFWRG
| Q1 26 | $0.96 | — | ||
| Q4 25 | $0.86 | $0.24 | ||
| Q3 25 | $1.06 | $0.05 | ||
| Q2 25 | $1.14 | $0.03 | ||
| Q1 25 | $0.98 | $-0.01 | ||
| Q4 24 | $0.83 | $0.01 | ||
| Q3 24 | $1.01 | $0.03 | ||
| Q2 24 | $1.03 | $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 | $4.3B | $626.3M |
| 总资产 | $35.7B | $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CBSHFWRG
| 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CBSHFWRG
| 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CBSHFWRG
| Q1 26 | $4.3B | — | ||
| Q4 25 | $3.8B | $626.3M | ||
| Q3 25 | $3.8B | $607.3M | ||
| Q2 25 | $3.6B | $601.3M | ||
| Q1 25 | $3.5B | $596.3M | ||
| Q4 24 | $3.3B | $595.4M | ||
| Q3 24 | $3.4B | $589.1M | ||
| Q2 24 | $3.1B | $585.8M |
总资产CBSHFWRG
| Q1 26 | $35.7B | — | ||
| Q4 25 | $32.9B | $1.7B | ||
| Q3 25 | $32.3B | $1.7B | ||
| Q2 25 | $32.3B | $1.7B | ||
| Q1 25 | $32.4B | $1.5B | ||
| Q4 24 | $32.0B | $1.5B | ||
| Q3 24 | $31.5B | $1.5B | ||
| Q2 24 | $30.6B | $1.4B |
负债/权益比CBSHFWRG
| 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 | — | $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CBSHFWRG
| Q1 26 | — | — | ||
| Q4 25 | $645.1M | $18.5M | ||
| Q3 25 | $129.0M | $47.9M | ||
| Q2 25 | $111.2M | $39.4M | ||
| Q1 25 | $138.6M | $20.1M | ||
| Q4 24 | $577.9M | $22.9M | ||
| Q3 24 | $431.7M | $35.9M | ||
| Q2 24 | $147.4M | $31.9M |
自由现金流CBSHFWRG
| Q1 26 | — | — | ||
| Q4 25 | $592.4M | $-18.3M | ||
| Q3 25 | $113.3M | $5.5M | ||
| Q2 25 | $100.5M | $-1.7M | ||
| Q1 25 | $126.0M | $-16.4M | ||
| Q4 24 | $531.7M | $-17.7M | ||
| Q3 24 | $419.1M | $6.8M | ||
| Q2 24 | $138.9M | $2.3M |
自由现金流率CBSHFWRG
| Q1 26 | — | — | ||
| Q4 25 | 131.8% | -5.8% | ||
| Q3 25 | 25.7% | 1.7% | ||
| Q2 25 | 22.5% | -0.5% | ||
| Q1 25 | 29.4% | -5.8% | ||
| Q4 24 | 126.0% | -6.7% | ||
| Q3 24 | 99.5% | 2.7% | ||
| Q2 24 | 33.5% | 0.9% |
资本支出强度CBSHFWRG
| Q1 26 | — | — | ||
| Q4 25 | 11.7% | 11.6% | ||
| Q3 25 | 3.6% | 13.4% | ||
| Q2 25 | 2.4% | 13.4% | ||
| Q1 25 | 2.9% | 13.0% | ||
| Q4 24 | 10.9% | 15.4% | ||
| Q3 24 | 3.0% | 11.6% | ||
| Q2 24 | 2.1% | 11.5% |
现金转化率CBSHFWRG
| Q1 26 | — | — | ||
| Q4 25 | 4.59× | — | ||
| Q3 25 | 0.91× | 16.01× | ||
| Q2 25 | 0.73× | 18.72× | ||
| Q1 25 | 1.05× | — | ||
| Q4 24 | 4.25× | — | ||
| Q3 24 | 3.13× | 16.98× | ||
| Q2 24 | 1.06× | 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
CBSH
暂无分部数据
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% |
