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Fidelity National Financial, Inc.（FNF）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
Fidelity National Financial, Inc.的季度营收约是First Watch Restaurant Group, Inc.的1.7倍（$544.0M vs $316.4M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs 10.3%），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs 13.7%）
富达国民金融是美国财富500强企业，主要面向房地产与抵押贷款行业提供产权保险及交割服务，2019年其产权及房地产业务相关年度营收约为84.69亿美元，是全球领先的产权保险服务供应商。
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。
FNF vs FWRG — 直观对比
营收规模更大
FNF
是对方的1.7倍
$316.4M
营收增速更快
FWRG
高出9.8%
10.3%
两年增速更快
FWRG
近两年复合增速
13.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $544.0M | $316.4M |
| 净利润 | $-117.0M | — |
| 毛利率 | — | — |
| 营业利润率 | 82.9% | 2.9% |
| 净利率 | -21.5% | — |
| 营收同比 | 10.3% | 20.2% |
| 净利润同比 | -126.0% | — |
| 每股收益（稀释后） | $-0.44 | $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FNFFWRG
| Q4 25 | $544.0M | $316.4M | ||
| Q3 25 | $553.0M | $316.0M | ||
| Q2 25 | $547.0M | $307.9M | ||
| Q1 25 | $455.0M | $282.2M | ||
| Q4 24 | $493.0M | $263.3M | ||
| Q3 24 | $506.0M | $251.6M | ||
| Q2 24 | $504.0M | $258.6M | ||
| Q1 24 | $421.0M | $242.4M |
净利润FNFFWRG
| Q4 25 | $-117.0M | — | ||
| Q3 25 | $358.0M | $3.0M | ||
| Q2 25 | $278.0M | $2.1M | ||
| Q1 25 | $83.0M | $-829.0K | ||
| Q4 24 | $450.0M | — | ||
| Q3 24 | $266.0M | $2.1M | ||
| Q2 24 | $306.0M | $8.9M | ||
| Q1 24 | $248.0M | $7.2M |
营业利润率FNFFWRG
| Q4 25 | 82.9% | 2.9% | ||
| Q3 25 | 81.9% | 3.2% | ||
| Q2 25 | 69.8% | 2.4% | ||
| Q1 25 | 24.4% | 0.4% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | 61.9% | 2.5% | ||
| Q2 24 | 90.9% | 6.4% | ||
| Q1 24 | 78.6% | 5.1% |
净利率FNFFWRG
| Q4 25 | -21.5% | — | ||
| Q3 25 | 64.7% | 0.9% | ||
| Q2 25 | 50.8% | 0.7% | ||
| Q1 25 | 18.2% | -0.3% | ||
| Q4 24 | 91.3% | — | ||
| Q3 24 | 52.6% | 0.8% | ||
| Q2 24 | 60.7% | 3.4% | ||
| Q1 24 | 58.9% | 3.0% |
每股收益（稀释后）FNFFWRG
| Q4 25 | $-0.44 | $0.24 | ||
| Q3 25 | $1.33 | $0.05 | ||
| Q2 25 | $1.02 | $0.03 | ||
| Q1 25 | $0.30 | $-0.01 | ||
| Q4 24 | $1.65 | $0.01 | ||
| Q3 24 | $0.97 | $0.03 | ||
| Q2 24 | $1.12 | $0.14 | ||
| Q1 24 | $0.91 | $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 | $2.6B | $21.2M |
| 总债务越低越好 | $4.4B | $269.1M |
| 股东权益账面价值 | $7.4B | $626.3M |
| 总资产 | $109.0B | $1.7B |
| 负债/权益比越低杠杆越低 | 0.59× | 0.43× |
8季度趋势，按日历期对齐
现金及短期投资FNFFWRG
| Q4 25 | $2.6B | $21.2M | ||
| Q3 25 | $3.5B | $20.7M | ||
| Q2 25 | $3.3B | $19.2M | ||
| Q1 25 | $4.5B | $18.6M | ||
| Q4 24 | $3.5B | $33.3M | ||
| Q3 24 | $5.0B | $51.1M | ||
| Q2 24 | $4.9B | $45.1M | ||
| Q1 24 | $3.5B | $43.2M |
总债务FNFFWRG
| Q4 25 | $4.4B | $269.1M | ||
| Q3 25 | $4.4B | $251.0M | ||
| Q2 25 | $4.4B | $250.0M | ||
| Q1 25 | $4.4B | $191.5M | ||
| Q4 24 | $4.3B | $189.0M | ||
| Q3 24 | $4.2B | $189.7M | ||
| Q2 24 | $4.2B | $192.1M | ||
| Q1 24 | $3.9B | $122.7M |
股东权益FNFFWRG
| Q4 25 | $7.4B | $626.3M | ||
| Q3 25 | $8.4B | $607.3M | ||
| Q2 25 | $7.9B | $601.3M | ||
| Q1 25 | $7.9B | $596.3M | ||
| Q4 24 | $7.8B | $595.4M | ||
| Q3 24 | $8.1B | $589.1M | ||
| Q2 24 | $7.3B | $585.8M | ||
| Q1 24 | $7.1B | $574.4M |
总资产FNFFWRG
| Q4 25 | $109.0B | $1.7B | ||
| Q3 25 | $106.6B | $1.7B | ||
| Q2 25 | $102.3B | $1.7B | ||
| Q1 25 | $98.2B | $1.5B | ||
| Q4 24 | $95.4B | $1.5B | ||
| Q3 24 | $94.7B | $1.5B | ||
| Q2 24 | $88.8B | $1.4B | ||
| Q1 24 | $84.5B | $1.3B |
负债/权益比FNFFWRG
| Q4 25 | 0.59× | 0.43× | ||
| Q3 25 | 0.53× | 0.41× | ||
| Q2 25 | 0.56× | 0.42× | ||
| Q1 25 | 0.56× | 0.32× | ||
| Q4 24 | 0.56× | 0.32× | ||
| Q3 24 | 0.52× | 0.32× | ||
| Q2 24 | 0.58× | 0.33× | ||
| Q1 24 | 0.55× | 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 | $1.5B | $18.5M |
| 自由现金流经营现金流 - 资本支出 | — | $-18.3M |
| 自由现金流率自由现金流/营收 | — | -5.8% |
| 资本支出强度资本支出/营收 | — | 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 | — | $-31.0M |
8季度趋势，按日历期对齐
经营现金流FNFFWRG
| Q4 25 | $1.5B | $18.5M | ||
| Q3 25 | $1.3B | $47.9M | ||
| Q2 25 | $1.9B | $39.4M | ||
| Q1 25 | $1.1B | $20.1M | ||
| Q4 24 | $1.5B | $22.9M | ||
| Q3 24 | $2.4B | $35.9M | ||
| Q2 24 | $1.4B | $31.9M | ||
| Q1 24 | $1.6B | $25.0M |
自由现金流FNFFWRG
| Q4 25 | — | $-18.3M | ||
| Q3 25 | — | $5.5M | ||
| Q2 25 | — | $-1.7M | ||
| Q1 25 | — | $-16.4M | ||
| Q4 24 | — | $-17.7M | ||
| Q3 24 | — | $6.8M | ||
| Q2 24 | — | $2.3M | ||
| Q1 24 | — | $-3.6M |
自由现金流率FNFFWRG
| Q4 25 | — | -5.8% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | -0.5% | ||
| Q1 25 | — | -5.8% | ||
| Q4 24 | — | -6.7% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 0.9% | ||
| Q1 24 | — | -1.5% |
资本支出强度FNFFWRG
| Q4 25 | — | 11.6% | ||
| Q3 25 | — | 13.4% | ||
| Q2 25 | — | 13.4% | ||
| Q1 25 | — | 13.0% | ||
| Q4 24 | — | 15.4% | ||
| Q3 24 | — | 11.6% | ||
| Q2 24 | — | 11.5% | ||
| Q1 24 | — | 11.8% |
现金转化率FNFFWRG
| Q4 25 | — | — | ||
| Q3 25 | 3.66× | 16.01× | ||
| Q2 25 | 6.82× | 18.72× | ||
| Q1 25 | 13.43× | — | ||
| Q4 24 | 3.32× | — | ||
| Q3 24 | 8.89× | 16.98× | ||
| Q2 24 | 4.45× | 3.59× | ||
| Q1 24 | 6.42× | 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
FNF
| Escrow Fees | $241.0M | 44% |
| Other Title Related Fees And Income | $182.0M | 33% |
| Service Link Excluding Title Premiums Escrow Fees And Subservicing Fees | $87.0M | 16% |
| Insurance Contracts Home Warranty | $31.0M | 6% |
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% |
