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First Watch Restaurant Group, Inc.（FWRG）与MARCUS CORP（MCS）财务数据对比。点击上方公司名可切换其他公司
First Watch Restaurant Group, Inc.的季度营收约是MARCUS CORP的1.6倍（$316.4M vs $193.5M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs 2.8%），MARCUS CORP自由现金流更多（$26.4M vs $-18.3M），过去两年MARCUS CORP的营收复合增速更高（18.2% vs 14.2%）
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。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
FWRG vs MCS — 直观对比
营收规模更大
FWRG
是对方的1.6倍
$193.5M
营收增速更快
FWRG
高出17.4%
2.8%
自由现金流更多
MCS
多$44.7M
$-18.3M
两年增速更快
MCS
近两年复合增速
14.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $193.5M |
| 净利润 | — | — |
| 毛利率 | — | — |
| 营业利润率 | 2.9% | 0.9% |
| 净利率 | — | — |
| 营收同比 | 20.2% | 2.8% |
| 净利润同比 | — | — |
| 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FWRGMCS
| Q4 25 | $316.4M | $193.5M | ||
| Q3 25 | $316.0M | $210.2M | ||
| Q2 25 | $307.9M | $206.0M | ||
| Q1 25 | $282.2M | $148.8M | ||
| Q4 24 | $263.3M | $188.3M | ||
| Q3 24 | $251.6M | $232.7M | ||
| Q2 24 | $258.6M | $176.0M | ||
| Q1 24 | $242.4M | $138.5M |
净利润FWRGMCS
| Q4 25 | — | — | ||
| Q3 25 | $3.0M | $16.2M | ||
| Q2 25 | $2.1M | $7.3M | ||
| Q1 25 | $-829.0K | $-16.8M | ||
| Q4 24 | — | $986.0K | ||
| Q3 24 | $2.1M | $23.3M | ||
| Q2 24 | $8.9M | $-20.2M | ||
| Q1 24 | $7.2M | $-11.9M |
营业利润率FWRGMCS
| Q4 25 | 2.9% | 0.9% | ||
| Q3 25 | 3.2% | 10.8% | ||
| Q2 25 | 2.4% | 6.3% | ||
| Q1 25 | 0.4% | -13.7% | ||
| Q4 24 | 1.5% | -1.2% | ||
| Q3 24 | 2.5% | 14.1% | ||
| Q2 24 | 6.4% | 1.3% | ||
| Q1 24 | 5.1% | -12.0% |
净利率FWRGMCS
| Q4 25 | — | — | ||
| Q3 25 | 0.9% | 7.7% | ||
| Q2 25 | 0.7% | 3.6% | ||
| Q1 25 | -0.3% | -11.3% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | 0.8% | 10.0% | ||
| Q2 24 | 3.4% | -11.5% | ||
| Q1 24 | 3.0% | -8.6% |
每股收益（稀释后）FWRGMCS
| Q4 25 | $0.24 | — | ||
| Q3 25 | $0.05 | — | ||
| Q2 25 | $0.03 | — | ||
| Q1 25 | $-0.01 | — | ||
| Q4 24 | $0.01 | — | ||
| Q3 24 | $0.03 | — | ||
| Q2 24 | $0.14 | — | ||
| Q1 24 | $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 | $21.2M | $23.4M |
| 总债务越低越好 | $269.1M | $159.0M |
| 股东权益账面价值 | $626.3M | $457.4M |
| 总资产 | $1.7B | $1.0B |
| 负债/权益比越低杠杆越低 | 0.43× | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资FWRGMCS
| Q4 25 | $21.2M | $23.4M | ||
| Q3 25 | $20.7M | $7.4M | ||
| Q2 25 | $19.2M | $14.9M | ||
| Q1 25 | $18.6M | $11.9M | ||
| Q4 24 | $33.3M | $40.8M | ||
| Q3 24 | $51.1M | $28.4M | ||
| Q2 24 | $45.1M | $32.8M | ||
| Q1 24 | $43.2M | $17.3M |
总债务FWRGMCS
| Q4 25 | $269.1M | $159.0M | ||
| Q3 25 | $251.0M | $162.0M | ||
| Q2 25 | $250.0M | $179.9M | ||
| Q1 25 | $191.5M | $198.9M | ||
| Q4 24 | $189.0M | $159.1M | ||
| Q3 24 | $189.7M | $173.1M | ||
| Q2 24 | $192.1M | $175.7M | ||
| Q1 24 | $122.7M | $169.8M |
股东权益FWRGMCS
| Q4 25 | $626.3M | $457.4M | ||
| Q3 25 | $607.3M | $454.3M | ||
| Q2 25 | $601.3M | $448.4M | ||
| Q1 25 | $596.3M | $441.8M | ||
| Q4 24 | $595.4M | $464.9M | ||
| Q3 24 | $589.1M | $462.3M | ||
| Q2 24 | $585.8M | $449.4M | ||
| Q1 24 | $574.4M | $459.3M |
总资产FWRGMCS
| Q4 25 | $1.7B | $1.0B | ||
| Q3 25 | $1.7B | $1.0B | ||
| Q2 25 | $1.7B | $1.0B | ||
| Q1 25 | $1.5B | $1.0B | ||
| Q4 24 | $1.5B | $1.0B | ||
| Q3 24 | $1.5B | $1.0B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.3B | $1.0B |
负债/权益比FWRGMCS
| Q4 25 | 0.43× | 0.35× | ||
| Q3 25 | 0.41× | 0.36× | ||
| Q2 25 | 0.42× | 0.40× | ||
| Q1 25 | 0.32× | 0.45× | ||
| Q4 24 | 0.32× | 0.34× | ||
| Q3 24 | 0.32× | 0.37× | ||
| Q2 24 | 0.33× | 0.39× | ||
| Q1 24 | 0.21× | 0.37× |
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 | $48.8M |
| 自由现金流经营现金流 - 资本支出 | $-18.3M | $26.4M |
| 自由现金流率自由现金流/营收 | -5.8% | 13.6% |
| 资本支出强度资本支出/营收 | 11.6% | 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 | $989.0K |
8季度趋势，按日历期对齐
经营现金流FWRGMCS
| Q4 25 | $18.5M | $48.8M | ||
| Q3 25 | $47.9M | $39.1M | ||
| Q2 25 | $39.4M | $31.6M | ||
| Q1 25 | $20.1M | $-35.3M | ||
| Q4 24 | $22.9M | $52.6M | ||
| Q3 24 | $35.9M | $30.5M | ||
| Q2 24 | $31.9M | $36.0M | ||
| Q1 24 | $25.0M | $-15.1M |
自由现金流FWRGMCS
| Q4 25 | $-18.3M | $26.4M | ||
| Q3 25 | $5.5M | $18.2M | ||
| Q2 25 | $-1.7M | $14.7M | ||
| Q1 25 | $-16.4M | $-58.3M | ||
| Q4 24 | $-17.7M | $27.1M | ||
| Q3 24 | $6.8M | $12.0M | ||
| Q2 24 | $2.3M | $16.1M | ||
| Q1 24 | $-3.6M | $-30.5M |
自由现金流率FWRGMCS
| Q4 25 | -5.8% | 13.6% | ||
| Q3 25 | 1.7% | 8.7% | ||
| Q2 25 | -0.5% | 7.1% | ||
| Q1 25 | -5.8% | -39.2% | ||
| Q4 24 | -6.7% | 14.4% | ||
| Q3 24 | 2.7% | 5.2% | ||
| Q2 24 | 0.9% | 9.2% | ||
| Q1 24 | -1.5% | -22.0% |
资本支出强度FWRGMCS
| Q4 25 | 11.6% | 11.6% | ||
| Q3 25 | 13.4% | 9.9% | ||
| Q2 25 | 13.4% | 8.2% | ||
| Q1 25 | 13.0% | 15.5% | ||
| Q4 24 | 15.4% | 13.5% | ||
| Q3 24 | 11.6% | 7.9% | ||
| Q2 24 | 11.5% | 11.3% | ||
| Q1 24 | 11.8% | 11.1% |
现金转化率FWRGMCS
| Q4 25 | — | — | ||
| Q3 25 | 16.01× | 2.41× | ||
| Q2 25 | 18.72× | 4.32× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 53.31× | ||
| Q3 24 | 16.98× | 1.31× | ||
| Q2 24 | 3.59× | — | ||
| Q1 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
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% |
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
