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Fair Isaac（FICO）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
Fair Isaac的季度营收约是First Watch Restaurant Group, Inc.的1.6倍（$512.0M vs $316.4M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs 16.4%），Fair Isaac自由现金流更多（$173.9M vs $-18.3M），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs 8.6%）
FICO（原Fair, Isaac and Company）是美国知名数据分析企业，1956年由比尔·费尔与厄尔·艾萨克创立，总部位于蒙大拿州博兹曼市，核心业务为信用评分服务，其推出的FICO信用分是评估消费者信贷风险的重要指标，目前已被美国消费信贷行业广泛采用。
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。
FICO vs FWRG — 直观对比
营收规模更大
FICO
是对方的1.6倍
$316.4M
营收增速更快
FWRG
高出3.8%
16.4%
自由现金流更多
FICO
多$192.2M
$-18.3M
两年增速更快
FWRG
近两年复合增速
8.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $512.0M | $316.4M |
| 净利润 | $158.4M | — |
| 毛利率 | 83.0% | — |
| 营业利润率 | 45.7% | 2.9% |
| 净利率 | 30.9% | — |
| 营收同比 | 16.4% | 20.2% |
| 净利润同比 | 3.8% | — |
| 每股收益（稀释后） | $6.61 | $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FICOFWRG
| Q4 25 | $512.0M | $316.4M | ||
| Q3 25 | $515.8M | $316.0M | ||
| Q2 25 | $536.4M | $307.9M | ||
| Q1 25 | $498.7M | $282.2M | ||
| Q4 24 | $440.0M | $263.3M | ||
| Q3 24 | $453.8M | $251.6M | ||
| Q2 24 | $447.8M | $258.6M | ||
| Q1 24 | $433.8M | $242.4M |
净利润FICOFWRG
| Q4 25 | $158.4M | — | ||
| Q3 25 | $155.0M | $3.0M | ||
| Q2 25 | $181.8M | $2.1M | ||
| Q1 25 | $162.6M | $-829.0K | ||
| Q4 24 | $152.5M | — | ||
| Q3 24 | $135.7M | $2.1M | ||
| Q2 24 | $126.3M | $8.9M | ||
| Q1 24 | $129.8M | $7.2M |
毛利率FICOFWRG
| Q4 25 | 83.0% | — | ||
| Q3 25 | 82.3% | — | ||
| Q2 25 | 83.7% | — | ||
| Q1 25 | 82.4% | — | ||
| Q4 24 | 80.1% | — | ||
| Q3 24 | 80.3% | — | ||
| Q2 24 | 80.3% | — | ||
| Q1 24 | 80.0% | — |
营业利润率FICOFWRG
| Q4 25 | 45.7% | 2.9% | ||
| Q3 25 | 46.0% | 3.2% | ||
| Q2 25 | 48.9% | 2.4% | ||
| Q1 25 | 49.3% | 0.4% | ||
| Q4 24 | 40.8% | 1.5% | ||
| Q3 24 | 43.4% | 2.5% | ||
| Q2 24 | 42.5% | 6.4% | ||
| Q1 24 | 44.9% | 5.1% |
净利率FICOFWRG
| Q4 25 | 30.9% | — | ||
| Q3 25 | 30.1% | 0.9% | ||
| Q2 25 | 33.9% | 0.7% | ||
| Q1 25 | 32.6% | -0.3% | ||
| Q4 24 | 34.7% | — | ||
| Q3 24 | 29.9% | 0.8% | ||
| Q2 24 | 28.2% | 3.4% | ||
| Q1 24 | 29.9% | 3.0% |
每股收益（稀释后）FICOFWRG
| Q4 25 | $6.61 | $0.24 | ||
| Q3 25 | $6.41 | $0.05 | ||
| Q2 25 | $7.40 | $0.03 | ||
| Q1 25 | $6.59 | $-0.01 | ||
| Q4 24 | $6.14 | $0.01 | ||
| Q3 24 | $5.44 | $0.03 | ||
| Q2 24 | $5.05 | $0.14 | ||
| Q1 24 | $5.16 | $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 | $162.0M | $21.2M |
| 总债务越低越好 | $3.2B | $269.1M |
| 股东权益账面价值 | $-1.8B | $626.3M |
| 总资产 | $1.9B | $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FICOFWRG
| Q4 25 | $162.0M | $21.2M | ||
| Q3 25 | $134.1M | $20.7M | ||
| Q2 25 | $189.0M | $19.2M | ||
| Q1 25 | $146.6M | $18.6M | ||
| Q4 24 | $184.3M | $33.3M | ||
| Q3 24 | $150.7M | $51.1M | ||
| Q2 24 | $156.0M | $45.1M | ||
| Q1 24 | $135.7M | $43.2M |
总债务FICOFWRG
| Q4 25 | $3.2B | $269.1M | ||
| Q3 25 | $3.1B | $251.0M | ||
| Q2 25 | $2.8B | $250.0M | ||
| Q1 25 | $2.5B | $191.5M | ||
| Q4 24 | $2.4B | $189.0M | ||
| Q3 24 | $2.2B | $189.7M | ||
| Q2 24 | $2.1B | $192.1M | ||
| Q1 24 | $2.0B | $122.7M |
股东权益FICOFWRG
| Q4 25 | $-1.8B | $626.3M | ||
| Q3 25 | $-1.7B | $607.3M | ||
| Q2 25 | $-1.4B | $601.3M | ||
| Q1 25 | $-1.1B | $596.3M | ||
| Q4 24 | $-1.1B | $595.4M | ||
| Q3 24 | $-962.7M | $589.1M | ||
| Q2 24 | $-829.3M | $585.8M | ||
| Q1 24 | $-735.7M | $574.4M |
总资产FICOFWRG
| Q4 25 | $1.9B | $1.7B | ||
| Q3 25 | $1.9B | $1.7B | ||
| Q2 25 | $1.9B | $1.7B | ||
| Q1 25 | $1.8B | $1.5B | ||
| Q4 24 | $1.7B | $1.5B | ||
| Q3 24 | $1.7B | $1.5B | ||
| Q2 24 | $1.7B | $1.4B | ||
| Q1 24 | $1.7B | $1.3B |
负债/权益比FICOFWRG
| 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 | $174.1M | $18.5M |
| 自由现金流经营现金流 - 资本支出 | $173.9M | $-18.3M |
| 自由现金流率自由现金流/营收 | 34.0% | -5.8% |
| 资本支出强度资本支出/营收 | 0.0% | 11.6% |
| 现金转化率经营现金流/净利润 | 1.10× | — |
| 过去12个月自由现金流最近4个季度 | $750.6M | $-31.0M |
8季度趋势，按日历期对齐
经营现金流FICOFWRG
| Q4 25 | $174.1M | $18.5M | ||
| Q3 25 | $223.7M | $47.9M | ||
| Q2 25 | $286.2M | $39.4M | ||
| Q1 25 | $74.9M | $20.1M | ||
| Q4 24 | $194.0M | $22.9M | ||
| Q3 24 | $226.5M | $35.9M | ||
| Q2 24 | $213.3M | $31.9M | ||
| Q1 24 | $71.0M | $25.0M |
自由现金流FICOFWRG
| Q4 25 | $173.9M | $-18.3M | ||
| Q3 25 | $219.5M | $5.5M | ||
| Q2 25 | $284.4M | $-1.7M | ||
| Q1 25 | $72.8M | $-16.4M | ||
| Q4 24 | $193.2M | $-17.7M | ||
| Q3 24 | $224.7M | $6.8M | ||
| Q2 24 | $211.6M | $2.3M | ||
| Q1 24 | $67.0M | $-3.6M |
自由现金流率FICOFWRG
| Q4 25 | 34.0% | -5.8% | ||
| Q3 25 | 42.6% | 1.7% | ||
| Q2 25 | 53.0% | -0.5% | ||
| Q1 25 | 14.6% | -5.8% | ||
| Q4 24 | 43.9% | -6.7% | ||
| Q3 24 | 49.5% | 2.7% | ||
| Q2 24 | 47.2% | 0.9% | ||
| Q1 24 | 15.4% | -1.5% |
资本支出强度FICOFWRG
| Q4 25 | 0.0% | 11.6% | ||
| Q3 25 | 0.8% | 13.4% | ||
| Q2 25 | 0.3% | 13.4% | ||
| Q1 25 | 0.4% | 13.0% | ||
| Q4 24 | 0.2% | 15.4% | ||
| Q3 24 | 0.4% | 11.6% | ||
| Q2 24 | 0.4% | 11.5% | ||
| Q1 24 | 0.9% | 11.8% |
现金转化率FICOFWRG
| Q4 25 | 1.10× | — | ||
| Q3 25 | 1.44× | 16.01× | ||
| Q2 25 | 1.57× | 18.72× | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 1.27× | — | ||
| Q3 24 | 1.67× | 16.98× | ||
| Q2 24 | 1.69× | 3.59× | ||
| Q1 24 | 0.55× | 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
FICO
| Business To Business Scores | $248.6M | 49% |
| Saa S Products | $115.7M | 23% |
| Platform Software | $73.9M | 14% |
| Business To Consumer Scores | $55.9M | 11% |
| Technology Service | $19.2M | 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% |
