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Ecovyst Inc.（ECVT）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Ecovyst Inc.的1.6倍（$316.4M vs $199.4M），Ecovyst Inc.同比增速更快（34.0% vs 20.2%），Ecovyst Inc.自由现金流更多（$22.9M vs $-18.3M），过去两年Ecovyst Inc.的营收复合增速更高（18.7% vs 14.2%）
Ecovyst Inc.是一家全球可持续特种材料供应商，主营高性能催化剂与功能性添加剂的研发、生产，产品服务覆盖工业制造、消费品、环保等核心领域，助力全球客户提升运营效率、降低碳排放。
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。
ECVT vs FWRG — 直观对比
营收规模更大
FWRG
是对方的1.6倍
$199.4M
营收增速更快
ECVT
高出13.8%
20.2%
自由现金流更多
ECVT
多$41.3M
$-18.3M
两年增速更快
ECVT
近两年复合增速
14.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.4M | $316.4M |
| 净利润 | — | — |
| 毛利率 | 23.4% | — |
| 营业利润率 | 10.9% | 2.9% |
| 净利率 | — | — |
| 营收同比 | 34.0% | 20.2% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.06 | $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ECVTFWRG
| Q4 25 | $199.4M | $316.4M | ||
| Q3 25 | $204.9M | $316.0M | ||
| Q2 25 | $176.1M | $307.9M | ||
| Q1 25 | $143.1M | $282.2M | ||
| Q4 24 | $148.9M | $263.3M | ||
| Q3 24 | $153.9M | $251.6M | ||
| Q2 24 | $154.0M | $258.6M | ||
| Q1 24 | $141.6M | $242.4M |
净利润ECVTFWRG
| Q4 25 | — | — | ||
| Q3 25 | $-79.3M | $3.0M | ||
| Q2 25 | $6.0M | $2.1M | ||
| Q1 25 | $-3.6M | $-829.0K | ||
| Q4 24 | — | — | ||
| Q3 24 | $14.3M | $2.1M | ||
| Q2 24 | $8.3M | $8.9M | ||
| Q1 24 | $1.2M | $7.2M |
毛利率ECVTFWRG
| Q4 25 | 23.4% | — | ||
| Q3 25 | 25.4% | — | ||
| Q2 25 | 22.8% | — | ||
| Q1 25 | 13.3% | — | ||
| Q4 24 | 28.9% | — | ||
| Q3 24 | 29.3% | — | ||
| Q2 24 | 27.3% | — | ||
| Q1 24 | 23.5% | — |
营业利润率ECVTFWRG
| Q4 25 | 10.9% | 2.9% | ||
| Q3 25 | 13.8% | 3.2% | ||
| Q2 25 | 9.0% | 2.4% | ||
| Q1 25 | -0.7% | 0.4% | ||
| Q4 24 | 15.1% | 1.5% | ||
| Q3 24 | 17.9% | 2.5% | ||
| Q2 24 | 14.1% | 6.4% | ||
| Q1 24 | 9.5% | 5.1% |
净利率ECVTFWRG
| Q4 25 | — | — | ||
| Q3 25 | -38.7% | 0.9% | ||
| Q2 25 | 3.4% | 0.7% | ||
| Q1 25 | -2.5% | -0.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | 9.3% | 0.8% | ||
| Q2 24 | 5.4% | 3.4% | ||
| Q1 24 | 0.9% | 3.0% |
每股收益（稀释后）ECVTFWRG
| Q4 25 | $0.06 | $0.24 | ||
| Q3 25 | $-0.69 | $0.05 | ||
| Q2 25 | $0.05 | $0.03 | ||
| Q1 25 | $-0.03 | $-0.01 | ||
| Q4 24 | $-0.26 | $0.01 | ||
| Q3 24 | $0.12 | $0.03 | ||
| Q2 24 | $0.07 | $0.14 | ||
| Q1 24 | $0.01 | $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 | $197.2M | $21.2M |
| 总债务越低越好 | $392.6M | $269.1M |
| 股东权益账面价值 | $603.4M | $626.3M |
| 总资产 | $1.3B | $1.7B |
| 负债/权益比越低杠杆越低 | 0.65× | 0.43× |
8季度趋势，按日历期对齐
现金及短期投资ECVTFWRG
| Q4 25 | $197.2M | $21.2M | ||
| Q3 25 | $82.0M | $20.7M | ||
| Q2 25 | $69.6M | $19.2M | ||
| Q1 25 | $127.5M | $18.6M | ||
| Q4 24 | $131.4M | $33.3M | ||
| Q3 24 | $123.5M | $51.1M | ||
| Q2 24 | $83.3M | $45.1M | ||
| Q1 24 | $103.1M | $43.2M |
总债务ECVTFWRG
| Q4 25 | $392.6M | $269.1M | ||
| Q3 25 | $854.8M | $251.0M | ||
| Q2 25 | $856.6M | $250.0M | ||
| Q1 25 | $859.0M | $191.5M | ||
| Q4 24 | $860.8M | $189.0M | ||
| Q3 24 | $862.7M | $189.7M | ||
| Q2 24 | $862.4M | $192.1M | ||
| Q1 24 | $866.2M | $122.7M |
股东权益ECVTFWRG
| Q4 25 | $603.4M | $626.3M | ||
| Q3 25 | $607.9M | $607.3M | ||
| Q2 25 | $692.4M | $601.3M | ||
| Q1 25 | $698.7M | $596.3M | ||
| Q4 24 | $700.5M | $595.4M | ||
| Q3 24 | $729.4M | $589.1M | ||
| Q2 24 | $717.3M | $585.8M | ||
| Q1 24 | $711.4M | $574.4M |
总资产ECVTFWRG
| Q4 25 | $1.3B | $1.7B | ||
| Q3 25 | $1.7B | $1.7B | ||
| Q2 25 | $1.8B | $1.7B | ||
| Q1 25 | $1.8B | $1.5B | ||
| Q4 24 | $1.8B | $1.5B | ||
| Q3 24 | $1.8B | $1.5B | ||
| Q2 24 | $1.8B | $1.4B | ||
| Q1 24 | $1.8B | $1.3B |
负债/权益比ECVTFWRG
| Q4 25 | 0.65× | 0.43× | ||
| Q3 25 | 1.41× | 0.41× | ||
| Q2 25 | 1.24× | 0.42× | ||
| Q1 25 | 1.23× | 0.32× | ||
| Q4 24 | 1.23× | 0.32× | ||
| Q3 24 | 1.18× | 0.32× | ||
| Q2 24 | 1.20× | 0.33× | ||
| Q1 24 | 1.22× | 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 | $41.8M | $18.5M |
| 自由现金流经营现金流 - 资本支出 | $22.9M | $-18.3M |
| 自由现金流率自由现金流/营收 | 11.5% | -5.8% |
| 资本支出强度资本支出/营收 | 9.4% | 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 | $69.9M | $-31.0M |
8季度趋势，按日历期对齐
经营现金流ECVTFWRG
| Q4 25 | $41.8M | $18.5M | ||
| Q3 25 | $55.3M | $47.9M | ||
| Q2 25 | $33.0M | $39.4M | ||
| Q1 25 | $10.3M | $20.1M | ||
| Q4 24 | $43.5M | $22.9M | ||
| Q3 24 | $59.9M | $35.9M | ||
| Q2 24 | $10.0M | $31.9M | ||
| Q1 24 | $36.5M | $25.0M |
自由现金流ECVTFWRG
| Q4 25 | $22.9M | $-18.3M | ||
| Q3 25 | $53.2M | $5.5M | ||
| Q2 25 | $7.8M | $-1.7M | ||
| Q1 25 | $-14.0M | $-16.4M | ||
| Q4 24 | $30.9M | $-17.7M | ||
| Q3 24 | $53.6M | $6.8M | ||
| Q2 24 | $-9.3M | $2.3M | ||
| Q1 24 | $19.1M | $-3.6M |
自由现金流率ECVTFWRG
| Q4 25 | 11.5% | -5.8% | ||
| Q3 25 | 26.0% | 1.7% | ||
| Q2 25 | 4.4% | -0.5% | ||
| Q1 25 | -9.8% | -5.8% | ||
| Q4 24 | 20.7% | -6.7% | ||
| Q3 24 | 34.9% | 2.7% | ||
| Q2 24 | -6.1% | 0.9% | ||
| Q1 24 | 13.5% | -1.5% |
资本支出强度ECVTFWRG
| Q4 25 | 9.4% | 11.6% | ||
| Q3 25 | 1.0% | 13.4% | ||
| Q2 25 | 14.4% | 13.4% | ||
| Q1 25 | 16.9% | 13.0% | ||
| Q4 24 | 8.5% | 15.4% | ||
| Q3 24 | 4.1% | 11.6% | ||
| Q2 24 | 12.5% | 11.5% | ||
| Q1 24 | 12.3% | 11.8% |
现金转化率ECVTFWRG
| Q4 25 | — | — | ||
| Q3 25 | — | 16.01× | ||
| Q2 25 | 5.52× | 18.72× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.21× | 16.98× | ||
| Q2 24 | 1.20× | 3.59× | ||
| Q1 24 | 29.90× | 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
ECVT
| Industrial Mining Automotive | $101.3M | 51% |
| Regeneration And Treatment Services | $90.0M | 45% |
| Other | $8.1M | 4% |
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% |
