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First Watch Restaurant Group, Inc.（FWRG）与Gaming & Leisure Properties, Inc.（GLPI）财务数据对比。点击上方公司名可切换其他公司
Gaming & Leisure Properties, Inc.的季度营收约是First Watch Restaurant Group, Inc.的1.3倍（$420.0M vs $316.4M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs 6.3%），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs 5.0%）
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。
博彩与休闲地产公司（GLPI）是一家专注于赌场物业的房地产投资信托（REIT），总部位于宾夕法尼亚州怀奥米辛。公司于2013年11月从宾州国民娱乐分拆成立，目前持有62处赌场物业，全部对外出租给其他企业运营。
FWRG vs GLPI — 直观对比
营收规模更大
GLPI
是对方的1.3倍
$316.4M
营收增速更快
FWRG
高出13.9%
6.3%
两年增速更快
FWRG
近两年复合增速
5.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $420.0M |
| 净利润 | — | $239.4M |
| 毛利率 | — | — |
| 营业利润率 | 2.9% | 79.4% |
| 净利率 | — | 57.0% |
| 营收同比 | 20.2% | 6.3% |
| 净利润同比 | — | 40.5% |
| 每股收益（稀释后） | $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FWRGGLPI
| Q1 26 | — | $420.0M | ||
| Q4 25 | $316.4M | $407.0M | ||
| Q3 25 | $316.0M | $397.6M | ||
| Q2 25 | $307.9M | $394.9M | ||
| Q1 25 | $282.2M | $395.2M | ||
| Q4 24 | $263.3M | $389.6M | ||
| Q3 24 | $251.6M | $385.3M | ||
| Q2 24 | $258.6M | $380.6M |
净利润FWRGGLPI
| Q1 26 | — | $239.4M | ||
| Q4 25 | — | $275.4M | ||
| Q3 25 | $3.0M | $241.2M | ||
| Q2 25 | $2.1M | $151.4M | ||
| Q1 25 | $-829.0K | $165.2M | ||
| Q4 24 | — | $223.6M | ||
| Q3 24 | $2.1M | $184.7M | ||
| Q2 24 | $8.9M | $208.3M |
营业利润率FWRGGLPI
| Q1 26 | — | 79.4% | ||
| Q4 25 | 2.9% | 89.3% | ||
| Q3 25 | 3.2% | 84.8% | ||
| Q2 25 | 2.4% | 61.3% | ||
| Q1 25 | 0.4% | 65.5% | ||
| Q4 24 | 1.5% | 79.1% | ||
| Q3 24 | 2.5% | 70.4% | ||
| Q2 24 | 6.4% | 77.1% |
净利率FWRGGLPI
| Q1 26 | — | 57.0% | ||
| Q4 25 | — | 67.6% | ||
| Q3 25 | 0.9% | 60.7% | ||
| Q2 25 | 0.7% | 38.4% | ||
| Q1 25 | -0.3% | 41.8% | ||
| Q4 24 | — | 57.4% | ||
| Q3 24 | 0.8% | 47.9% | ||
| Q2 24 | 3.4% | 54.7% |
每股收益（稀释后）FWRGGLPI
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $0.96 | ||
| Q3 25 | $0.05 | $0.85 | ||
| Q2 25 | $0.03 | $0.54 | ||
| Q1 25 | $-0.01 | $0.60 | ||
| Q4 24 | $0.01 | $0.79 | ||
| Q3 24 | $0.03 | $0.67 | ||
| Q2 24 | $0.14 | $0.77 |
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 | $21.2M | $274.5M |
| 总债务越低越好 | $269.1M | — |
| 股东权益账面价值 | $626.3M | $5.0B |
| 总资产 | $1.7B | $13.8B |
| 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FWRGGLPI
| Q1 26 | — | $274.5M | ||
| Q4 25 | $21.2M | — | ||
| Q3 25 | $20.7M | — | ||
| Q2 25 | $19.2M | — | ||
| Q1 25 | $18.6M | — | ||
| Q4 24 | $33.3M | $560.8M | ||
| Q3 24 | $51.1M | $560.8M | ||
| Q2 24 | $45.1M | $560.8M |
总债务FWRGGLPI
| Q1 26 | — | — | ||
| Q4 25 | $269.1M | $7.2B | ||
| Q3 25 | $251.0M | $7.2B | ||
| Q2 25 | $250.0M | $6.9B | ||
| Q1 25 | $191.5M | $6.9B | ||
| Q4 24 | $189.0M | $7.7B | ||
| Q3 24 | $189.7M | $7.4B | ||
| Q2 24 | $192.1M | $6.6B |
股东权益FWRGGLPI
| Q1 26 | — | $5.0B | ||
| Q4 25 | $626.3M | $4.6B | ||
| Q3 25 | $607.3M | $4.6B | ||
| Q2 25 | $601.3M | $4.6B | ||
| Q1 25 | $596.3M | $4.2B | ||
| Q4 24 | $595.4M | $4.3B | ||
| Q3 24 | $589.1M | $4.3B | ||
| Q2 24 | $585.8M | $4.1B |
总资产FWRGGLPI
| Q1 26 | — | $13.8B | ||
| Q4 25 | $1.7B | $12.9B | ||
| Q3 25 | $1.7B | $12.8B | ||
| Q2 25 | $1.7B | $12.5B | ||
| Q1 25 | $1.5B | $12.1B | ||
| Q4 24 | $1.5B | $13.1B | ||
| Q3 24 | $1.5B | $12.7B | ||
| Q2 24 | $1.4B | $11.8B |
负债/权益比FWRGGLPI
| Q1 26 | — | — | ||
| Q4 25 | 0.43× | 1.56× | ||
| Q3 25 | 0.41× | 1.57× | ||
| Q2 25 | 0.42× | 1.51× | ||
| Q1 25 | 0.32× | 1.63× | ||
| Q4 24 | 0.32× | 1.81× | ||
| Q3 24 | 0.32× | 1.74× | ||
| Q2 24 | 0.33× | 1.60× |
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 | $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FWRGGLPI
| Q1 26 | — | — | ||
| Q4 25 | $18.5M | $1.1B | ||
| Q3 25 | $47.9M | $240.3M | ||
| Q2 25 | $39.4M | $293.4M | ||
| Q1 25 | $20.1M | $252.5M | ||
| Q4 24 | $22.9M | $1.1B | ||
| Q3 24 | $35.9M | $270.4M | ||
| Q2 24 | $31.9M | $252.1M |
自由现金流FWRGGLPI
| Q1 26 | — | — | ||
| Q4 25 | $-18.3M | — | ||
| Q3 25 | $5.5M | $183.0M | ||
| Q2 25 | $-1.7M | $272.3M | ||
| Q1 25 | $-16.4M | $239.6M | ||
| Q4 24 | $-17.7M | $1.1B | ||
| Q3 24 | $6.8M | $261.5M | ||
| Q2 24 | $2.3M | $245.0M |
自由现金流率FWRGGLPI
| Q1 26 | — | — | ||
| Q4 25 | -5.8% | — | ||
| Q3 25 | 1.7% | 46.0% | ||
| Q2 25 | -0.5% | 69.0% | ||
| Q1 25 | -5.8% | 60.6% | ||
| Q4 24 | -6.7% | 275.3% | ||
| Q3 24 | 2.7% | 67.9% | ||
| Q2 24 | 0.9% | 64.4% |
资本支出强度FWRGGLPI
| Q1 26 | — | — | ||
| Q4 25 | 11.6% | — | ||
| Q3 25 | 13.4% | 14.4% | ||
| Q2 25 | 13.4% | 5.3% | ||
| Q1 25 | 13.0% | 3.3% | ||
| Q4 24 | 15.4% | 0.0% | ||
| Q3 24 | 11.6% | 2.3% | ||
| Q2 24 | 11.5% | 1.9% |
现金转化率FWRGGLPI
| Q1 26 | — | — | ||
| Q4 25 | — | 4.10× | ||
| Q3 25 | 16.01× | 1.00× | ||
| Q2 25 | 18.72× | 1.94× | ||
| Q1 25 | — | 1.53× | ||
| Q4 24 | — | 4.80× | ||
| Q3 24 | 16.98× | 1.46× | ||
| Q2 24 | 3.59× | 1.21× |
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
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% |
GLPI
暂无分部数据
