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Freedom Holding Corp.（FRHC）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
Freedom Holding Corp.的季度营收约是First Watch Restaurant Group, Inc.的2.0倍（$628.6M vs $316.4M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs -4.1%），Freedom Holding Corp.自由现金流更多（$651.7M vs $-18.3M），过去两年Freedom Holding Corp.的营收复合增速更高（16.3% vs 14.2%）
Freedom Holding Corp.是在美国内华达州注册的投资集团，业务覆盖零售证券经纪交易、资产管理、资本市场服务、投研咨询、投行承销、抵押贷款、保险、银行及其他消费金融服务，核心布局美股、欧洲及以哈萨克斯坦为核心的中亚市场。
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。
FRHC vs FWRG — 直观对比
营收规模更大
FRHC
是对方的2.0倍
$316.4M
营收增速更快
FWRG
高出24.2%
-4.1%
自由现金流更多
FRHC
多$670.1M
$-18.3M
两年增速更快
FRHC
近两年复合增速
14.2%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $628.6M | $316.4M |
| 净利润 | $76.2M | — |
| 毛利率 | 96.0% | — |
| 营业利润率 | 14.9% | 2.9% |
| 净利率 | 12.1% | — |
| 营收同比 | -4.1% | 20.2% |
| 净利润同比 | -2.6% | — |
| 每股收益（稀释后） | $1.25 | $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FRHCFWRG
| Q4 25 | $628.6M | $316.4M | ||
| Q3 25 | $526.1M | $316.0M | ||
| Q2 25 | $533.4M | $307.9M | ||
| Q1 25 | $363.7M | $282.2M | ||
| Q4 24 | $655.2M | $263.3M | ||
| Q3 24 | $580.9M | $251.6M | ||
| Q2 24 | $450.7M | $258.6M | ||
| Q1 24 | $464.7M | $242.4M |
净利润FRHCFWRG
| Q4 25 | $76.2M | — | ||
| Q3 25 | $38.7M | $3.0M | ||
| Q2 25 | $30.4M | $2.1M | ||
| Q1 25 | $-142.7M | $-829.0K | ||
| Q4 24 | $78.3M | — | ||
| Q3 24 | $114.7M | $2.1M | ||
| Q2 24 | $34.4M | $8.9M | ||
| Q1 24 | $95.2M | $7.2M |
毛利率FRHCFWRG
| Q4 25 | 96.0% | — | ||
| Q3 25 | 97.1% | — | ||
| Q2 25 | 97.4% | — | ||
| Q1 25 | 96.6% | — | ||
| Q4 24 | 98.6% | — | ||
| Q3 24 | 99.1% | — | ||
| Q2 24 | 99.0% | — | ||
| Q1 24 | — | — |
营业利润率FRHCFWRG
| Q4 25 | 14.9% | 2.9% | ||
| Q3 25 | 11.5% | 3.2% | ||
| Q2 25 | 7.6% | 2.4% | ||
| Q1 25 | -42.7% | 0.4% | ||
| Q4 24 | 15.0% | 1.5% | ||
| Q3 24 | 22.1% | 2.5% | ||
| Q2 24 | 9.2% | 6.4% | ||
| Q1 24 | 22.5% | 5.1% |
净利率FRHCFWRG
| Q4 25 | 12.1% | — | ||
| Q3 25 | 7.4% | 0.9% | ||
| Q2 25 | 5.7% | 0.7% | ||
| Q1 25 | -39.2% | -0.3% | ||
| Q4 24 | 11.9% | — | ||
| Q3 24 | 19.7% | 0.8% | ||
| Q2 24 | 7.6% | 3.4% | ||
| Q1 24 | 20.5% | 3.0% |
每股收益（稀释后）FRHCFWRG
| Q4 25 | $1.25 | $0.24 | ||
| Q3 25 | $0.63 | $0.05 | ||
| Q2 25 | $0.50 | $0.03 | ||
| Q1 25 | $-2.35 | $-0.01 | ||
| Q4 24 | $1.29 | $0.01 | ||
| Q3 24 | $1.89 | $0.03 | ||
| Q2 24 | $0.57 | $0.14 | ||
| Q1 24 | $1.60 | $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 | $869.2M | $21.2M |
| 总债务越低越好 | — | $269.1M |
| 股东权益账面价值 | $1.4B | $626.3M |
| 总资产 | $12.4B | $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FRHCFWRG
| Q4 25 | $869.2M | $21.2M | ||
| Q3 25 | $636.0M | $20.7M | ||
| Q2 25 | $567.9M | $19.2M | ||
| Q1 25 | $837.3M | $18.6M | ||
| Q4 24 | $577.9M | $33.3M | ||
| Q3 24 | $569.2M | $51.1M | ||
| Q2 24 | $718.7M | $45.1M | ||
| Q1 24 | $545.1M | $43.2M |
总债务FRHCFWRG
| Q4 25 | — | $269.1M | ||
| Q3 25 | — | $251.0M | ||
| Q2 25 | — | $250.0M | ||
| Q1 25 | — | $191.5M | ||
| Q4 24 | — | $189.0M | ||
| Q3 24 | — | $189.7M | ||
| Q2 24 | — | $192.1M | ||
| Q1 24 | — | $122.7M |
股东权益FRHCFWRG
| Q4 25 | $1.4B | $626.3M | ||
| Q3 25 | $1.2B | $607.3M | ||
| Q2 25 | $1.2B | $601.3M | ||
| Q1 25 | $1.2B | $596.3M | ||
| Q4 24 | $1.3B | $595.4M | ||
| Q3 24 | $1.3B | $589.1M | ||
| Q2 24 | $1.1B | $585.8M | ||
| Q1 24 | $1.2B | $574.4M |
总资产FRHCFWRG
| Q4 25 | $12.4B | $1.7B | ||
| Q3 25 | $10.3B | $1.7B | ||
| Q2 25 | $9.7B | $1.7B | ||
| Q1 25 | $9.9B | $1.5B | ||
| Q4 24 | $9.1B | $1.5B | ||
| Q3 24 | $8.8B | $1.5B | ||
| Q2 24 | $8.5B | $1.4B | ||
| Q1 24 | $8.3B | $1.3B |
负债/权益比FRHCFWRG
| 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 | $717.8M | $18.5M |
| 自由现金流经营现金流 - 资本支出 | $651.7M | $-18.3M |
| 自由现金流率自由现金流/营收 | 103.7% | -5.8% |
| 资本支出强度资本支出/营收 | 10.5% | 11.6% |
| 现金转化率经营现金流/净利润 | 9.42× | — |
| 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FRHCFWRG
| Q4 25 | $717.8M | $18.5M | ||
| Q3 25 | $535.3M | $47.9M | ||
| Q2 25 | $480.8M | $39.4M | ||
| Q1 25 | $1.3B | $20.1M | ||
| Q4 24 | $-72.8M | $22.9M | ||
| Q3 24 | $-438.0M | $35.9M | ||
| Q2 24 | $854.1M | $31.9M | ||
| Q1 24 | $309.0M | $25.0M |
自由现金流FRHCFWRG
| Q4 25 | $651.7M | $-18.3M | ||
| Q3 25 | $456.4M | $5.5M | ||
| Q2 25 | $450.0M | $-1.7M | ||
| Q1 25 | — | $-16.4M | ||
| Q4 24 | $-92.7M | $-17.7M | ||
| Q3 24 | $-447.5M | $6.8M | ||
| Q2 24 | $829.9M | $2.3M | ||
| Q1 24 | — | $-3.6M |
自由现金流率FRHCFWRG
| Q4 25 | 103.7% | -5.8% | ||
| Q3 25 | 86.7% | 1.7% | ||
| Q2 25 | 84.4% | -0.5% | ||
| Q1 25 | — | -5.8% | ||
| Q4 24 | -14.1% | -6.7% | ||
| Q3 24 | -77.0% | 2.7% | ||
| Q2 24 | 184.1% | 0.9% | ||
| Q1 24 | — | -1.5% |
资本支出强度FRHCFWRG
| Q4 25 | 10.5% | 11.6% | ||
| Q3 25 | 15.0% | 13.4% | ||
| Q2 25 | 5.8% | 13.4% | ||
| Q1 25 | — | 13.0% | ||
| Q4 24 | 3.0% | 15.4% | ||
| Q3 24 | 1.6% | 11.6% | ||
| Q2 24 | 5.4% | 11.5% | ||
| Q1 24 | — | 11.8% |
现金转化率FRHCFWRG
| Q4 25 | 9.42× | — | ||
| Q3 25 | 13.82× | 16.01× | ||
| Q2 25 | 15.82× | 18.72× | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.93× | — | ||
| Q3 24 | -3.82× | 16.98× | ||
| Q2 24 | 24.83× | 3.59× | ||
| Q1 24 | 3.24× | 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
FRHC
暂无分部数据
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% |
