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Fat Brands, Inc（FAT）与Sweetgreen, Inc.（SG）财务数据对比。点击上方公司名可切换其他公司
Sweetgreen, Inc.的季度营收约是Fat Brands, Inc的1.1倍（$155.2M vs $140.0M），Sweetgreen, Inc.净利率更高（-32.0% vs -41.6%，领先9.5%），Fat Brands, Inc同比增速更快（-2.3% vs -3.5%），Fat Brands, Inc自由现金流更多（$-16.9M vs $-39.0M），过去两年Sweetgreen, Inc.的营收复合增速更高（-0.8% vs -6.1%）
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。
Sweetgreen是美国一家主打沙拉产品的休闲快餐连锁品牌，由三位创始人于2006年11月创立。三位创始人从乔治城大学麦克唐纳商学院毕业三个月后，于2007年8月在华盛顿特区开设了品牌第一家门店，目前在北美多地拥有门店布局。
FAT vs SG — 直观对比
营收规模更大
SG
是对方的1.1倍
$140.0M
营收增速更快
FAT
高出1.2%
-3.5%
净利率更高
SG
高出9.5%
-41.6%
自由现金流更多
FAT
多$22.1M
$-39.0M
两年增速更快
SG
近两年复合增速
-6.1%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $140.0M | $155.2M |
| 净利润 | $-58.2M | $-49.7M |
| 毛利率 | — | — |
| 营业利润率 | -12.4% | -31.0% |
| 净利率 | -41.6% | -32.0% |
| 营收同比 | -2.3% | -3.5% |
| 净利润同比 | -30.1% | -71.3% |
| 每股收益（稀释后） | $-3.39 | $-0.42 |
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FATSG
| Q4 25 | — | $155.2M | ||
| Q3 25 | $140.0M | $172.4M | ||
| Q2 25 | $146.8M | $185.6M | ||
| Q1 25 | $142.0M | $166.3M | ||
| Q4 24 | $145.3M | $160.9M | ||
| Q3 24 | $143.4M | $173.4M | ||
| Q2 24 | $152.0M | $184.6M | ||
| Q1 24 | $152.0M | $157.8M |
净利润FATSG
| Q4 25 | — | $-49.7M | ||
| Q3 25 | $-58.2M | $-36.1M | ||
| Q2 25 | $-54.2M | $-23.2M | ||
| Q1 25 | $-46.0M | $-25.0M | ||
| Q4 24 | $-67.4M | $-29.0M | ||
| Q3 24 | $-44.8M | $-20.8M | ||
| Q2 24 | $-39.4M | $-14.5M | ||
| Q1 24 | $-38.3M | $-26.1M |
营业利润率FATSG
| Q4 25 | — | -31.0% | ||
| Q3 25 | -12.4% | -21.0% | ||
| Q2 25 | -10.6% | -14.2% | ||
| Q1 25 | -6.0% | -17.2% | ||
| Q4 24 | -27.1% | -19.5% | ||
| Q3 24 | -6.2% | -12.2% | ||
| Q2 24 | -1.8% | -8.8% | ||
| Q1 24 | -0.9% | -17.1% |
净利率FATSG
| Q4 25 | — | -32.0% | ||
| Q3 25 | -41.6% | -21.0% | ||
| Q2 25 | -36.9% | -12.5% | ||
| Q1 25 | -32.4% | -15.1% | ||
| Q4 24 | -46.4% | -18.0% | ||
| Q3 24 | -31.2% | -12.0% | ||
| Q2 24 | -25.9% | -7.8% | ||
| Q1 24 | -25.2% | -16.5% |
每股收益（稀释后）FATSG
| Q4 25 | — | $-0.42 | ||
| Q3 25 | $-3.39 | $-0.31 | ||
| Q2 25 | $-3.17 | $-0.20 | ||
| Q1 25 | $-2.73 | $-0.21 | ||
| Q4 24 | $-4.06 | $-0.25 | ||
| Q3 24 | $-2.74 | $-0.18 | ||
| Q2 24 | $-2.43 | $-0.13 | ||
| Q1 24 | $-2.37 | $-0.23 |
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 | — | $89.2M |
| 总债务越低越好 | $1.3B | — |
| 股东权益账面价值 | $-585.8M | $356.1M |
| 总资产 | $1.2B | $788.1M |
| 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FATSG
| Q4 25 | — | $89.2M | ||
| Q3 25 | — | $130.0M | ||
| Q2 25 | — | $168.5M | ||
| Q1 25 | — | $183.9M | ||
| Q4 24 | — | $214.8M | ||
| Q3 24 | — | $234.6M | ||
| Q2 24 | — | $244.6M | ||
| Q1 24 | — | $243.8M |
总债务FATSG
| 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FATSG
| Q4 25 | — | $356.1M | ||
| Q3 25 | $-585.8M | $393.3M | ||
| Q2 25 | $-536.5M | $423.3M | ||
| Q1 25 | $-493.9M | $432.8M | ||
| Q4 24 | $-455.7M | $446.1M | ||
| Q3 24 | $-386.1M | $463.3M | ||
| Q2 24 | $-338.6M | $470.1M | ||
| Q1 24 | $-296.8M | $470.3M |
总资产FATSG
| Q4 25 | — | $788.1M | ||
| Q3 25 | $1.2B | $824.8M | ||
| Q2 25 | $1.2B | $831.9M | ||
| Q1 25 | $1.3B | $834.3M | ||
| Q4 24 | $1.3B | $856.8M | ||
| Q3 24 | $1.3B | $858.0M | ||
| Q2 24 | $1.4B | $859.2M | ||
| Q1 24 | $1.4B | $842.7M |
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 | $-14.5M | $-8.7M |
| 自由现金流经营现金流 - 资本支出 | $-16.9M | $-39.0M |
| 自由现金流率自由现金流/营收 | -12.1% | -25.1% |
| 资本支出强度资本支出/营收 | 1.7% | 19.6% |
| 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 | $-75.0M | $-119.2M |
8季度趋势，按日历期对齐
经营现金流FATSG
| Q4 25 | — | $-8.7M | ||
| Q3 25 | $-14.5M | $-1.4M | ||
| Q2 25 | $-26.9M | $10.5M | ||
| Q1 25 | $-13.2M | $-13.1M | ||
| Q4 24 | $-10.4M | $6.1M | ||
| Q3 24 | $-3.2M | $14.7M | ||
| Q2 24 | $-14.2M | $19.1M | ||
| Q1 24 | $-28.4M | $3.4M |
自由现金流FATSG
| Q4 25 | — | $-39.0M | ||
| Q3 25 | $-16.9M | $-37.2M | ||
| Q2 25 | $-29.3M | $-13.1M | ||
| Q1 25 | $-17.8M | $-29.9M | ||
| Q4 24 | $-11.0M | $-20.6M | ||
| Q3 24 | $-11.1M | $-10.3M | ||
| Q2 24 | $-24.4M | $-156.0K | ||
| Q1 24 | $-32.5M | $-10.0M |
自由现金流率FATSG
| Q4 25 | — | -25.1% | ||
| Q3 25 | -12.1% | -21.6% | ||
| Q2 25 | -20.0% | -7.1% | ||
| Q1 25 | -12.5% | -18.0% | ||
| Q4 24 | -7.6% | -12.8% | ||
| Q3 24 | -7.7% | -6.0% | ||
| Q2 24 | -16.1% | -0.1% | ||
| Q1 24 | -21.4% | -6.3% |
资本支出强度FATSG
| Q4 25 | — | 19.6% | ||
| Q3 25 | 1.7% | 20.8% | ||
| Q2 25 | 1.6% | 12.7% | ||
| Q1 25 | 3.2% | 10.1% | ||
| Q4 24 | 0.4% | 16.6% | ||
| Q3 24 | 5.5% | 14.4% | ||
| Q2 24 | 6.7% | 10.4% | ||
| Q1 24 | 2.7% | 8.5% |
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
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% |
SG
暂无分部数据
