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DigitalOcean Holdings, Inc.（DOCN）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DigitalOcean Holdings, Inc.的1.3倍（$316.4M vs $242.4M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs 18.3%），DigitalOcean Holdings, Inc.自由现金流更多（$31.1M vs $-18.3M），过去两年DigitalOcean Holdings, Inc.的营收复合增速更高（14.5% vs 14.2%）
DigitalOcean Holdings, Inc.是美国跨国科技企业及云服务提供商，总部位于美国科罗拉多州布鲁姆菲尔德，在全球布局15个数据中心，面向开发者、初创企业及中小微企业提供稳定易用的云基础设施即服务平台，助力各类技术团队高效开展业务。
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。
DOCN vs FWRG — 直观对比
营收规模更大
FWRG
是对方的1.3倍
$242.4M
营收增速更快
FWRG
高出1.9%
18.3%
自由现金流更多
DOCN
多$49.5M
$-18.3M
两年增速更快
DOCN
近两年复合增速
14.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $242.4M | $316.4M |
| 净利润 | $25.7M | — |
| 毛利率 | 58.7% | — |
| 营业利润率 | 16.0% | 2.9% |
| 净利率 | 10.6% | — |
| 营收同比 | 18.3% | 20.2% |
| 净利润同比 | 40.5% | — |
| 每股收益（稀释后） | $0.23 | $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DOCNFWRG
| Q4 25 | $242.4M | $316.4M | ||
| Q3 25 | $229.6M | $316.0M | ||
| Q2 25 | $218.7M | $307.9M | ||
| Q1 25 | $210.7M | $282.2M | ||
| Q4 24 | $204.9M | $263.3M | ||
| Q3 24 | $198.5M | $251.6M | ||
| Q2 24 | $192.5M | $258.6M | ||
| Q1 24 | $184.7M | $242.4M |
净利润DOCNFWRG
| Q4 25 | $25.7M | — | ||
| Q3 25 | $158.4M | $3.0M | ||
| Q2 25 | $37.0M | $2.1M | ||
| Q1 25 | $38.2M | $-829.0K | ||
| Q4 24 | $18.3M | — | ||
| Q3 24 | $32.9M | $2.1M | ||
| Q2 24 | $19.1M | $8.9M | ||
| Q1 24 | $14.1M | $7.2M |
毛利率DOCNFWRG
| Q4 25 | 58.7% | — | ||
| Q3 25 | 59.6% | — | ||
| Q2 25 | 59.9% | — | ||
| Q1 25 | 61.4% | — | ||
| Q4 24 | 57.1% | — | ||
| Q3 24 | 60.2% | — | ||
| Q2 24 | 61.0% | — | ||
| Q1 24 | 60.7% | — |
营业利润率DOCNFWRG
| Q4 25 | 16.0% | 2.9% | ||
| Q3 25 | 19.6% | 3.2% | ||
| Q2 25 | 16.3% | 2.4% | ||
| Q1 25 | 17.9% | 0.4% | ||
| Q4 24 | 15.9% | 1.5% | ||
| Q3 24 | 12.4% | 2.5% | ||
| Q2 24 | 11.6% | 6.4% | ||
| Q1 24 | 6.2% | 5.1% |
净利率DOCNFWRG
| Q4 25 | 10.6% | — | ||
| Q3 25 | 69.0% | 0.9% | ||
| Q2 25 | 16.9% | 0.7% | ||
| Q1 25 | 18.1% | -0.3% | ||
| Q4 24 | 8.9% | — | ||
| Q3 24 | 16.6% | 0.8% | ||
| Q2 24 | 9.9% | 3.4% | ||
| Q1 24 | 7.7% | 3.0% |
每股收益（稀释后）DOCNFWRG
| Q4 25 | $0.23 | $0.24 | ||
| Q3 25 | $1.51 | $0.05 | ||
| Q2 25 | $0.39 | $0.03 | ||
| Q1 25 | $0.39 | $-0.01 | ||
| Q4 24 | $0.21 | $0.01 | ||
| Q3 24 | $0.33 | $0.03 | ||
| Q2 24 | $0.20 | $0.14 | ||
| Q1 24 | $0.15 | $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 | $254.5M | $21.2M |
| 总债务越低越好 | $1.3B | $269.1M |
| 股东权益账面价值 | $-28.7M | $626.3M |
| 总资产 | $1.8B | $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DOCNFWRG
| Q4 25 | $254.5M | $21.2M | ||
| Q3 25 | $236.6M | $20.7M | ||
| Q2 25 | $387.7M | $19.2M | ||
| Q1 25 | $360.4M | $18.6M | ||
| Q4 24 | $428.4M | $33.3M | ||
| Q3 24 | $439.9M | $51.1M | ||
| Q2 24 | $443.1M | $45.1M | ||
| Q1 24 | $419.1M | $43.2M |
总债务DOCNFWRG
| Q4 25 | $1.3B | $269.1M | ||
| Q3 25 | $1.3B | $251.0M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $191.5M | ||
| Q4 24 | $1.5B | $189.0M | ||
| Q3 24 | — | $189.7M | ||
| Q2 24 | — | $192.1M | ||
| Q1 24 | — | $122.7M |
股东权益DOCNFWRG
| Q4 25 | $-28.7M | $626.3M | ||
| Q3 25 | $-69.6M | $607.3M | ||
| Q2 25 | $-175.2M | $601.3M | ||
| Q1 25 | $-210.7M | $596.3M | ||
| Q4 24 | $-203.0M | $595.4M | ||
| Q3 24 | $-211.7M | $589.1M | ||
| Q2 24 | $-253.8M | $585.8M | ||
| Q1 24 | $-286.1M | $574.4M |
总资产DOCNFWRG
| Q4 25 | $1.8B | $1.7B | ||
| Q3 25 | $1.7B | $1.7B | ||
| Q2 25 | $1.7B | $1.7B | ||
| Q1 25 | $1.6B | $1.5B | ||
| Q4 24 | $1.6B | $1.5B | ||
| Q3 24 | $1.5B | $1.5B | ||
| Q2 24 | $1.5B | $1.4B | ||
| Q1 24 | $1.5B | $1.3B |
负债/权益比DOCNFWRG
| 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× | ||
| Q1 24 | — | 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 | $57.3M | $18.5M |
| 自由现金流经营现金流 - 资本支出 | $31.1M | $-18.3M |
| 自由现金流率自由现金流/营收 | 12.8% | -5.8% |
| 资本支出强度资本支出/营收 | 10.8% | 11.6% |
| 现金转化率经营现金流/净利润 | 2.23× | — |
| 过去12个月自由现金流最近4个季度 | $180.5M | $-31.0M |
8季度趋势，按日历期对齐
经营现金流DOCNFWRG
| Q4 25 | $57.3M | $18.5M | ||
| Q3 25 | $95.8M | $47.9M | ||
| Q2 25 | $92.4M | $39.4M | ||
| Q1 25 | $64.1M | $20.1M | ||
| Q4 24 | $71.3M | $22.9M | ||
| Q3 24 | $73.4M | $35.9M | ||
| Q2 24 | $71.3M | $31.9M | ||
| Q1 24 | $66.7M | $25.0M |
自由现金流DOCNFWRG
| Q4 25 | $31.1M | $-18.3M | ||
| Q3 25 | $88.0M | $5.5M | ||
| Q2 25 | $59.3M | $-1.7M | ||
| Q1 25 | $2.1M | $-16.4M | ||
| Q4 24 | $26.1M | $-17.7M | ||
| Q3 24 | $16.0M | $6.8M | ||
| Q2 24 | $39.5M | $2.3M | ||
| Q1 24 | $23.0M | $-3.6M |
自由现金流率DOCNFWRG
| Q4 25 | 12.8% | -5.8% | ||
| Q3 25 | 38.3% | 1.7% | ||
| Q2 25 | 27.1% | -0.5% | ||
| Q1 25 | 1.0% | -5.8% | ||
| Q4 24 | 12.7% | -6.7% | ||
| Q3 24 | 8.1% | 2.7% | ||
| Q2 24 | 20.5% | 0.9% | ||
| Q1 24 | 12.5% | -1.5% |
资本支出强度DOCNFWRG
| Q4 25 | 10.8% | 11.6% | ||
| Q3 25 | 3.4% | 13.4% | ||
| Q2 25 | 15.2% | 13.4% | ||
| Q1 25 | 29.4% | 13.0% | ||
| Q4 24 | 22.1% | 15.4% | ||
| Q3 24 | 28.9% | 11.6% | ||
| Q2 24 | 16.6% | 11.5% | ||
| Q1 24 | 23.6% | 11.8% |
现金转化率DOCNFWRG
| Q4 25 | 2.23× | — | ||
| Q3 25 | 0.60× | 16.01× | ||
| Q2 25 | 2.50× | 18.72× | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 3.91× | — | ||
| Q3 24 | 2.23× | 16.98× | ||
| Q2 24 | 3.73× | 3.59× | ||
| Q1 24 | 4.72× | 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
DOCN
| Scalers | $84.3M | 35% |
| Scalers Plus | $69.9M | 29% |
| Builders | $64.1M | 26% |
| Learners Testers And Other | $24.1M | 10% |
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% |
