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First Watch Restaurant Group, Inc.（FWRG）与INTERPARFUMS INC（IPAR）财务数据对比。点击上方公司名可切换其他公司
INTERPARFUMS INC的季度营收约是First Watch Restaurant Group, Inc.的1.2倍（$386.2M vs $316.4M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs 6.8%），INTERPARFUMS INC自由现金流更多（$145.0M vs $-18.3M），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs 9.2%）
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。
Inter Parfums Inc是全球知名的高端香水企业，开发、生产并销售多款授权香水、身体护理及相关美妆产品，与多家顶级奢侈时尚生活方式品牌合作推出联名香氛系列，产品覆盖全球主要市场，通过百货、美妆专营店及官方电商渠道触达消费者。
FWRG vs IPAR — 直观对比
营收规模更大
IPAR
是对方的1.2倍
$316.4M
营收增速更快
FWRG
高出13.3%
6.8%
自由现金流更多
IPAR
多$163.3M
$-18.3M
两年增速更快
FWRG
近两年复合增速
9.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $386.2M |
| 净利润 | — | $28.1M |
| 毛利率 | — | 61.5% |
| 营业利润率 | 2.9% | 7.1% |
| 净利率 | — | 7.3% |
| 营收同比 | 20.2% | 6.8% |
| 净利润同比 | — | 16.0% |
| 每股收益（稀释后） | $0.24 | $0.88 |
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FWRGIPAR
| Q4 25 | $316.4M | $386.2M | ||
| Q3 25 | $316.0M | $429.6M | ||
| Q2 25 | $307.9M | $333.9M | ||
| Q1 25 | $282.2M | $338.8M | ||
| Q4 24 | $263.3M | $361.5M | ||
| Q3 24 | $251.6M | $424.6M | ||
| Q2 24 | $258.6M | $342.2M | ||
| Q1 24 | $242.4M | $324.0M |
净利润FWRGIPAR
| Q4 25 | — | $28.1M | ||
| Q3 25 | $3.0M | $65.8M | ||
| Q2 25 | $2.1M | $32.0M | ||
| Q1 25 | $-829.0K | $42.5M | ||
| Q4 24 | — | $24.2M | ||
| Q3 24 | $2.1M | $62.3M | ||
| Q2 24 | $8.9M | $36.8M | ||
| Q1 24 | $7.2M | $41.0M |
毛利率FWRGIPAR
| Q4 25 | — | 61.5% | ||
| Q3 25 | — | 63.5% | ||
| Q2 25 | — | 66.2% | ||
| Q1 25 | — | 63.7% | ||
| Q4 24 | — | 64.5% | ||
| Q3 24 | — | 63.9% | ||
| Q2 24 | — | 64.5% | ||
| Q1 24 | — | 62.5% |
营业利润率FWRGIPAR
| Q4 25 | 2.9% | 7.1% | ||
| Q3 25 | 3.2% | 25.3% | ||
| Q2 25 | 2.4% | 17.7% | ||
| Q1 25 | 0.4% | 22.2% | ||
| Q4 24 | 1.5% | 10.0% | ||
| Q3 24 | 2.5% | 25.0% | ||
| Q2 24 | 6.4% | 18.9% | ||
| Q1 24 | 5.1% | 21.0% |
净利率FWRGIPAR
| Q4 25 | — | 7.3% | ||
| Q3 25 | 0.9% | 15.3% | ||
| Q2 25 | 0.7% | 9.6% | ||
| Q1 25 | -0.3% | 12.5% | ||
| Q4 24 | — | 6.7% | ||
| Q3 24 | 0.8% | 14.7% | ||
| Q2 24 | 3.4% | 10.8% | ||
| Q1 24 | 3.0% | 12.7% |
每股收益（稀释后）FWRGIPAR
| Q4 25 | $0.24 | $0.88 | ||
| Q3 25 | $0.05 | $2.05 | ||
| Q2 25 | $0.03 | $0.99 | ||
| Q1 25 | $-0.01 | $1.32 | ||
| Q4 24 | $0.01 | $0.78 | ||
| Q3 24 | $0.03 | $1.93 | ||
| Q2 24 | $0.14 | $1.14 | ||
| Q1 24 | $0.12 | $1.27 |
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 | $137.1M |
| 总债务越低越好 | $269.1M | $176.0M |
| 股东权益账面价值 | $626.3M | $880.7M |
| 总资产 | $1.7B | $1.6B |
| 负债/权益比越低杠杆越低 | 0.43× | 0.20× |
8季度趋势，按日历期对齐
现金及短期投资FWRGIPAR
| Q4 25 | $21.2M | $137.1M | ||
| Q3 25 | $20.7M | $77.5M | ||
| Q2 25 | $19.2M | $53.9M | ||
| Q1 25 | $18.6M | $75.3M | ||
| Q4 24 | $33.3M | $109.3M | ||
| Q3 24 | $51.1M | $78.8M | ||
| Q2 24 | $45.1M | $37.7M | ||
| Q1 24 | $43.2M | $76.1M |
总债务FWRGIPAR
| Q4 25 | $269.1M | $176.0M | ||
| Q3 25 | $251.0M | — | ||
| Q2 25 | $250.0M | — | ||
| Q1 25 | $191.5M | — | ||
| Q4 24 | $189.0M | $157.3M | ||
| Q3 24 | $189.7M | — | ||
| Q2 24 | $192.1M | — | ||
| Q1 24 | $122.7M | — |
股东权益FWRGIPAR
| Q4 25 | $626.3M | $880.7M | ||
| Q3 25 | $607.3M | $870.9M | ||
| Q2 25 | $601.3M | $839.4M | ||
| Q1 25 | $596.3M | $788.6M | ||
| Q4 24 | $595.4M | $744.9M | ||
| Q3 24 | $589.1M | $778.5M | ||
| Q2 24 | $585.8M | $717.1M | ||
| Q1 24 | $574.4M | $708.1M |
总资产FWRGIPAR
| Q4 25 | $1.7B | $1.6B | ||
| Q3 25 | $1.7B | $1.6B | ||
| Q2 25 | $1.7B | $1.6B | ||
| Q1 25 | $1.5B | $1.4B | ||
| Q4 24 | $1.5B | $1.4B | ||
| Q3 24 | $1.5B | $1.5B | ||
| Q2 24 | $1.4B | $1.4B | ||
| Q1 24 | $1.3B | $1.3B |
负债/权益比FWRGIPAR
| Q4 25 | 0.43× | 0.20× | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 0.42× | — | ||
| Q1 25 | 0.32× | — | ||
| Q4 24 | 0.32× | 0.21× | ||
| 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 | $18.5M | $146.5M |
| 自由现金流经营现金流 - 资本支出 | $-18.3M | $145.0M |
| 自由现金流率自由现金流/营收 | -5.8% | 37.5% |
| 资本支出强度资本支出/营收 | 11.6% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 5.21× |
| 过去12个月自由现金流最近4个季度 | $-31.0M | $190.5M |
8季度趋势，按日历期对齐
经营现金流FWRGIPAR
| Q4 25 | $18.5M | $146.5M | ||
| Q3 25 | $47.9M | $63.9M | ||
| Q2 25 | $39.4M | $11.9M | ||
| Q1 25 | $20.1M | $-7.4M | ||
| Q4 24 | $22.9M | $138.0M | ||
| Q3 24 | $35.9M | $76.1M | ||
| Q2 24 | $31.9M | $25.5M | ||
| Q1 24 | $25.0M | $-52.0M |
自由现金流FWRGIPAR
| Q4 25 | $-18.3M | $145.0M | ||
| Q3 25 | $5.5M | $57.6M | ||
| Q2 25 | $-1.7M | $-3.3M | ||
| Q1 25 | $-16.4M | $-8.8M | ||
| Q4 24 | $-17.7M | $136.1M | ||
| Q3 24 | $6.8M | $75.4M | ||
| Q2 24 | $2.3M | $24.4M | ||
| Q1 24 | $-3.6M | $-53.0M |
自由现金流率FWRGIPAR
| Q4 25 | -5.8% | 37.5% | ||
| Q3 25 | 1.7% | 13.4% | ||
| Q2 25 | -0.5% | -1.0% | ||
| Q1 25 | -5.8% | -2.6% | ||
| Q4 24 | -6.7% | 37.7% | ||
| Q3 24 | 2.7% | 17.8% | ||
| Q2 24 | 0.9% | 7.1% | ||
| Q1 24 | -1.5% | -16.4% |
资本支出强度FWRGIPAR
| Q4 25 | 11.6% | 0.4% | ||
| Q3 25 | 13.4% | 1.5% | ||
| Q2 25 | 13.4% | 4.5% | ||
| Q1 25 | 13.0% | 0.4% | ||
| Q4 24 | 15.4% | 0.5% | ||
| Q3 24 | 11.6% | 0.2% | ||
| Q2 24 | 11.5% | 0.3% | ||
| Q1 24 | 11.8% | 0.3% |
现金转化率FWRGIPAR
| Q4 25 | — | 5.21× | ||
| Q3 25 | 16.01× | 0.97× | ||
| Q2 25 | 18.72× | 0.37× | ||
| Q1 25 | — | -0.17× | ||
| Q4 24 | — | 5.69× | ||
| Q3 24 | 16.98× | 1.22× | ||
| Q2 24 | 3.59× | 0.69× | ||
| Q1 24 | 3.46× | -1.27× |
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% |
IPAR
| European Based Operations | $232.7M | 60% |
| United States Based Operations | $155.2M | 40% |
