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Fat Brands, Inc（FAT）与Tecnoglass Inc.（TGLS）财务数据对比。点击上方公司名可切换其他公司
Tecnoglass Inc.的季度营收约是Fat Brands, Inc的1.8倍（$245.3M vs $140.0M），Tecnoglass Inc.净利率更高（10.6% vs -41.6%，领先52.2%），Tecnoglass Inc.同比增速更快（2.4% vs -2.3%），Tecnoglass Inc.自由现金流更多（$11.4M vs $-16.9M），过去两年Tecnoglass Inc.的营收复合增速更高（12.8% 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。
Tecnoglass Inc.是一家领先的建筑玻璃、铝制门窗及相关建材生产商，主要服务北美及拉美地区的住宅和商业建筑领域，为新建及翻新项目提供定制化、高能效的建筑解决方案。
FAT vs TGLS — 直观对比
营收规模更大
TGLS
是对方的1.8倍
$140.0M
营收增速更快
TGLS
高出4.7%
-2.3%
净利率更高
TGLS
高出52.2%
-41.6%
自由现金流更多
TGLS
多$28.3M
$-16.9M
两年增速更快
TGLS
近两年复合增速
-6.1%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $140.0M | $245.3M |
| 净利润 | $-58.2M | $26.1M |
| 毛利率 | — | 40.0% |
| 营业利润率 | -12.4% | 18.3% |
| 净利率 | -41.6% | 10.6% |
| 营收同比 | -2.3% | 2.4% |
| 净利润同比 | -30.1% | -44.5% |
| 每股收益（稀释后） | $-3.39 | $0.57 |
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FATTGLS
| Q4 25 | — | $245.3M | ||
| Q3 25 | $140.0M | $260.5M | ||
| Q2 25 | $146.8M | $255.5M | ||
| Q1 25 | $142.0M | $222.3M | ||
| Q4 24 | $145.3M | $239.6M | ||
| Q3 24 | $143.4M | $238.3M | ||
| Q2 24 | $152.0M | $219.7M | ||
| Q1 24 | $152.0M | $192.6M |
净利润FATTGLS
| Q4 25 | — | $26.1M | ||
| Q3 25 | $-58.2M | $47.2M | ||
| Q2 25 | $-54.2M | $44.1M | ||
| Q1 25 | $-46.0M | $42.2M | ||
| Q4 24 | $-67.4M | $47.0M | ||
| Q3 24 | $-44.8M | $49.5M | ||
| Q2 24 | $-39.4M | $35.0M | ||
| Q1 24 | $-38.3M | $29.7M |
毛利率FATTGLS
| Q4 25 | — | 40.0% | ||
| Q3 25 | — | 42.7% | ||
| Q2 25 | — | 44.7% | ||
| Q1 25 | — | 43.9% | ||
| Q4 24 | — | 44.5% | ||
| Q3 24 | — | 45.8% | ||
| Q2 24 | — | 40.8% | ||
| Q1 24 | — | 38.8% |
营业利润率FATTGLS
| Q4 25 | — | 18.3% | ||
| Q3 25 | -12.4% | 25.1% | ||
| Q2 25 | -10.6% | 24.0% | ||
| Q1 25 | -6.0% | 26.7% | ||
| Q4 24 | -27.1% | 28.0% | ||
| Q3 24 | -6.2% | 28.4% | ||
| Q2 24 | -1.8% | 23.3% | ||
| Q1 24 | -0.9% | 21.3% |
净利率FATTGLS
| Q4 25 | — | 10.6% | ||
| Q3 25 | -41.6% | 18.1% | ||
| Q2 25 | -36.9% | 17.3% | ||
| Q1 25 | -32.4% | 19.0% | ||
| Q4 24 | -46.4% | 19.6% | ||
| Q3 24 | -31.2% | 20.8% | ||
| Q2 24 | -25.9% | 15.9% | ||
| Q1 24 | -25.2% | 15.4% |
每股收益（稀释后）FATTGLS
| Q4 25 | — | $0.57 | ||
| Q3 25 | $-3.39 | $1.01 | ||
| Q2 25 | $-3.17 | $0.94 | ||
| Q1 25 | $-2.73 | $0.90 | ||
| Q4 24 | $-4.06 | $1.00 | ||
| Q3 24 | $-2.74 | $1.05 | ||
| Q2 24 | $-2.43 | $0.75 | ||
| Q1 24 | $-2.37 | $0.63 |
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 | — | $104.1M |
| 总债务越低越好 | $1.3B | $174.4M |
| 股东权益账面价值 | $-585.8M | $713.1M |
| 总资产 | $1.2B | $1.3B |
| 负债/权益比越低杠杆越低 | — | 0.24× |
8季度趋势，按日历期对齐
现金及短期投资FATTGLS
| Q4 25 | — | $104.1M | ||
| Q3 25 | — | $127.1M | ||
| Q2 25 | — | $140.9M | ||
| Q1 25 | — | $160.2M | ||
| Q4 24 | — | $137.5M | ||
| Q3 24 | — | $124.8M | ||
| Q2 24 | — | $129.5M | ||
| Q1 24 | — | $138.8M |
总债务FATTGLS
| Q4 25 | — | $174.4M | ||
| Q3 25 | $1.3B | $114.7M | ||
| Q2 25 | $1.3B | $110.6M | ||
| Q1 25 | $1.3B | $110.6M | ||
| Q4 24 | $1.3B | $111.1M | ||
| Q3 24 | $1.2B | $126.8M | ||
| Q2 24 | $1.2B | $144.7M | ||
| Q1 24 | $1.2B | $160.9M |
股东权益FATTGLS
| Q4 25 | — | $713.1M | ||
| Q3 25 | $-585.8M | $764.0M | ||
| Q2 25 | $-536.5M | $736.0M | ||
| Q1 25 | $-493.9M | $685.1M | ||
| Q4 24 | $-455.7M | $631.2M | ||
| Q3 24 | $-386.1M | $613.3M | ||
| Q2 24 | $-338.6M | $574.8M | ||
| Q1 24 | $-296.8M | $573.6M |
总资产FATTGLS
| Q4 25 | — | $1.3B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.3B | $1.0B | ||
| Q3 24 | $1.3B | $996.3M | ||
| Q2 24 | $1.4B | $942.5M | ||
| Q1 24 | $1.4B | $981.6M |
负债/权益比FATTGLS
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.25× | ||
| Q1 24 | — | 0.28× |
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 | $31.0M |
| 自由现金流经营现金流 - 资本支出 | $-16.9M | $11.4M |
| 自由现金流率自由现金流/营收 | -12.1% | 4.7% |
| 资本支出强度资本支出/营收 | 1.7% | 8.0% |
| 现金转化率经营现金流/净利润 | — | 1.19× |
| 过去12个月自由现金流最近4个季度 | $-75.0M | $34.5M |
8季度趋势，按日历期对齐
经营现金流FATTGLS
| Q4 25 | — | $31.0M | ||
| Q3 25 | $-14.5M | $40.0M | ||
| Q2 25 | $-26.9M | $17.9M | ||
| Q1 25 | $-13.2M | $46.9M | ||
| Q4 24 | $-10.4M | $61.1M | ||
| Q3 24 | $-3.2M | $41.5M | ||
| Q2 24 | $-14.2M | $34.5M | ||
| Q1 24 | $-28.4M | $33.4M |
自由现金流FATTGLS
| Q4 25 | — | $11.4M | ||
| Q3 25 | $-16.9M | $21.2M | ||
| Q2 25 | $-29.3M | $-14.7M | ||
| Q1 25 | $-17.8M | $16.5M | ||
| Q4 24 | $-11.0M | $35.4M | ||
| Q3 24 | $-11.1M | $17.8M | ||
| Q2 24 | $-24.4M | $14.2M | ||
| Q1 24 | $-32.5M | $23.6M |
自由现金流率FATTGLS
| Q4 25 | — | 4.7% | ||
| Q3 25 | -12.1% | 8.2% | ||
| Q2 25 | -20.0% | -5.7% | ||
| Q1 25 | -12.5% | 7.4% | ||
| Q4 24 | -7.6% | 14.8% | ||
| Q3 24 | -7.7% | 7.5% | ||
| Q2 24 | -16.1% | 6.5% | ||
| Q1 24 | -21.4% | 12.2% |
资本支出强度FATTGLS
| Q4 25 | — | 8.0% | ||
| Q3 25 | 1.7% | 7.2% | ||
| Q2 25 | 1.6% | 12.7% | ||
| Q1 25 | 3.2% | 13.7% | ||
| Q4 24 | 0.4% | 10.7% | ||
| Q3 24 | 5.5% | 9.9% | ||
| Q2 24 | 6.7% | 9.2% | ||
| Q1 24 | 2.7% | 5.1% |
现金转化率FATTGLS
| Q4 25 | — | 1.19× | ||
| Q3 25 | — | 0.85× | ||
| Q2 25 | — | 0.41× | ||
| Q1 25 | — | 1.11× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.98× | ||
| Q1 24 | — | 1.13× |
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% |
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
