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FARMER BROTHERS CO（FARM）与Fat Brands, Inc（FAT）财务数据对比。点击上方公司名可切换其他公司
Fat Brands, Inc的季度营收约是FARMER BROTHERS CO的1.6倍（$140.0M vs $88.9M），FARMER BROTHERS CO净利率更高（-5.5% vs -41.6%，领先36.1%），FARMER BROTHERS CO同比增速更快（-1.2% vs -2.3%），FARMER BROTHERS CO自由现金流更多（$-2.6M vs $-16.9M），过去两年FARMER BROTHERS CO的营收复合增速更高（2.1% vs -6.1%）
Farmer Bros. Co.是一家总部位于美国得克萨斯州沃斯堡的餐饮服务企业，主打咖啡与茶类产品的生产分销，同时还供应约300种餐厅及其他经营场所所需的餐饮配套用品，目前由约翰·摩尔担任公司首席执行官兼总裁。
FAT Brands是来自美国的多品牌餐饮与体育酒吧连锁运营商，总部位于加利福尼亚州比弗利山庄，主要开展餐饮品牌的连锁加盟运营业务，旗下涵盖多个餐饮及休闲体育酒吧品牌。
FARM vs FAT — 直观对比
营收规模更大
FAT
是对方的1.6倍
$88.9M
营收增速更快
FARM
高出1.1%
-2.3%
净利率更高
FARM
高出36.1%
-41.6%
自由现金流更多
FARM
多$14.3M
$-16.9M
两年增速更快
FARM
近两年复合增速
-6.1%
损益表 — Q2 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $88.9M | $140.0M |
| 净利润 | $-4.9M | $-58.2M |
| 毛利率 | 36.3% | — |
| 营业利润率 | -4.7% | -12.4% |
| 净利率 | -5.5% | -41.6% |
| 营收同比 | -1.2% | -2.3% |
| 净利润同比 | -2417.1% | -30.1% |
| 每股收益（稀释后） | $-0.22 | $-3.39 |
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FARMFAT
| Q4 25 | $88.9M | — | ||
| Q3 25 | $81.6M | $140.0M | ||
| Q2 25 | $85.1M | $146.8M | ||
| Q1 25 | $82.1M | $142.0M | ||
| Q4 24 | $90.0M | $145.3M | ||
| Q3 24 | $85.1M | $143.4M | ||
| Q2 24 | $84.4M | $152.0M | ||
| Q1 24 | $85.4M | $152.0M |
净利润FARMFAT
| Q4 25 | $-4.9M | — | ||
| Q3 25 | $-4.0M | $-58.2M | ||
| Q2 25 | $-4.7M | $-54.2M | ||
| Q1 25 | $-5.0M | $-46.0M | ||
| Q4 24 | $210.0K | $-67.4M | ||
| Q3 24 | $-5.0M | $-44.8M | ||
| Q2 24 | $-4.6M | $-39.4M | ||
| Q1 24 | $-682.0K | $-38.3M |
毛利率FARMFAT
| Q4 25 | 36.3% | — | ||
| Q3 25 | 39.7% | — | ||
| Q2 25 | 44.9% | — | ||
| Q1 25 | 42.1% | — | ||
| Q4 24 | 43.1% | — | ||
| Q3 24 | 43.9% | — | ||
| Q2 24 | 38.8% | — | ||
| Q1 24 | 40.1% | — |
营业利润率FARMFAT
| Q4 25 | -4.7% | — | ||
| Q3 25 | -3.9% | -12.4% | ||
| Q2 25 | 4.6% | -10.6% | ||
| Q1 25 | -4.3% | -6.0% | ||
| Q4 24 | 1.1% | -27.1% | ||
| Q3 24 | -3.3% | -6.2% | ||
| Q2 24 | -4.9% | -1.8% | ||
| Q1 24 | -0.5% | -0.9% |
净利率FARMFAT
| Q4 25 | -5.5% | — | ||
| Q3 25 | -4.9% | -41.6% | ||
| Q2 25 | -5.6% | -36.9% | ||
| Q1 25 | -6.1% | -32.4% | ||
| Q4 24 | 0.2% | -46.4% | ||
| Q3 24 | -5.9% | -31.2% | ||
| Q2 24 | -5.4% | -25.9% | ||
| Q1 24 | -0.8% | -25.2% |
每股收益（稀释后）FARMFAT
| Q4 25 | $-0.22 | — | ||
| Q3 25 | $-0.19 | $-3.39 | ||
| Q2 25 | $-0.22 | $-3.17 | ||
| Q1 25 | $-0.23 | $-2.73 | ||
| Q4 24 | $0.01 | $-4.06 | ||
| Q3 24 | $-0.24 | $-2.74 | ||
| Q2 24 | $-0.23 | $-2.43 | ||
| Q1 24 | $-0.03 | $-2.37 |
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 | $4.2M | — |
| 总债务越低越好 | — | $1.3B |
| 股东权益账面价值 | $35.7M | $-585.8M |
| 总资产 | $151.4M | $1.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资FARMFAT
| Q4 25 | $4.2M | — | ||
| Q3 25 | $3.8M | — | ||
| Q2 25 | $6.8M | — | ||
| Q1 25 | $4.1M | — | ||
| Q4 24 | $5.5M | — | ||
| Q3 24 | $3.3M | — | ||
| Q2 24 | $5.8M | — | ||
| Q1 24 | $5.5M | — |
总债务FARMFAT
| Q4 25 | — | — | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
股东权益FARMFAT
| Q4 25 | $35.7M | — | ||
| Q3 25 | $40.0M | $-585.8M | ||
| Q2 25 | $43.5M | $-536.5M | ||
| Q1 25 | $37.3M | $-493.9M | ||
| Q4 24 | $41.5M | $-455.7M | ||
| Q3 24 | $40.9M | $-386.1M | ||
| Q2 24 | $45.5M | $-338.6M | ||
| Q1 24 | $43.1M | $-296.8M |
总资产FARMFAT
| Q4 25 | $151.4M | — | ||
| Q3 25 | $158.8M | $1.2B | ||
| Q2 25 | $161.2M | $1.2B | ||
| Q1 25 | $163.2M | $1.3B | ||
| Q4 24 | $179.1M | $1.3B | ||
| Q3 24 | $182.0M | $1.3B | ||
| Q2 24 | $185.2M | $1.4B | ||
| Q1 24 | $179.1M | $1.4B |
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 | $-786.0K | $-14.5M |
| 自由现金流经营现金流 - 资本支出 | $-2.6M | $-16.9M |
| 自由现金流率自由现金流/营收 | -2.9% | -12.1% |
| 资本支出强度资本支出/营收 | 2.1% | 1.7% |
| 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 | — | $-75.0M |
8季度趋势，按日历期对齐
经营现金流FARMFAT
| Q4 25 | $-786.0K | — | ||
| Q3 25 | $-5.0M | $-14.5M | ||
| Q2 25 | $9.7M | $-26.9M | ||
| Q1 25 | $1.3M | $-13.2M | ||
| Q4 24 | $2.6M | $-10.4M | ||
| Q3 24 | $2.5M | $-3.2M | ||
| Q2 24 | $-995.0K | $-14.2M | ||
| Q1 24 | $-2.3M | $-28.4M |
自由现金流FARMFAT
| Q4 25 | $-2.6M | — | ||
| Q3 25 | $-6.9M | $-16.9M | ||
| Q2 25 | — | $-29.3M | ||
| Q1 25 | $-684.0K | $-17.8M | ||
| Q4 24 | $521.0K | $-11.0M | ||
| Q3 24 | $-837.0K | $-11.1M | ||
| Q2 24 | — | $-24.4M | ||
| Q1 24 | $-5.7M | $-32.5M |
自由现金流率FARMFAT
| Q4 25 | -2.9% | — | ||
| Q3 25 | -8.5% | -12.1% | ||
| Q2 25 | — | -20.0% | ||
| Q1 25 | -0.8% | -12.5% | ||
| Q4 24 | 0.6% | -7.6% | ||
| Q3 24 | -1.0% | -7.7% | ||
| Q2 24 | — | -16.1% | ||
| Q1 24 | -6.7% | -21.4% |
资本支出强度FARMFAT
| Q4 25 | 2.1% | — | ||
| Q3 25 | 2.4% | 1.7% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | 2.4% | 3.2% | ||
| Q4 24 | 2.3% | 0.4% | ||
| Q3 24 | 3.9% | 5.5% | ||
| Q2 24 | — | 6.7% | ||
| Q1 24 | 4.0% | 2.7% |
现金转化率FARMFAT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 12.16× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
FARM
| Coffee Roasted | $45.5M | 51% |
| Tea Iced Hot | $23.3M | 26% |
| Culinary | $14.1M | 16% |
| Spice | $4.9M | 5% |
| Fuel Surcharge | $1.2M | 1% |
FAT
| Restaurant Sales | $96.6M | 69% |
| Royalty | $21.6M | 15% |
| Factory | $9.6M | 7% |
| Advertising | $9.1M | 7% |
| Franchisor | $1.5M | 1% |
| Other | $1.5M | 1% |
