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First Watch Restaurant Group, Inc.（FWRG）与Orion S.A.（OEC）财务数据对比。点击上方公司名可切换其他公司
Orion S.A.的季度营收约是First Watch Restaurant Group, Inc.的1.3倍（$411.7M vs $316.4M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs -5.2%），Orion S.A.自由现金流更多（$44.2M vs $-18.3M），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs -9.5%）
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。
奥里昂集团成立于1917年，总部位于芬兰埃斯波，是一家全球化运营的芬兰企业。公司面向全球市场研发、生产并销售人用与兽用药品以及药用活性成分，旗下所有生产基地及大部分研发部门均设于芬兰境内。
FWRG vs OEC — 直观对比
营收规模更大
OEC
是对方的1.3倍
$316.4M
营收增速更快
FWRG
高出25.3%
-5.2%
自由现金流更多
OEC
多$62.5M
$-18.3M
两年增速更快
FWRG
近两年复合增速
-9.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $411.7M |
| 净利润 | — | — |
| 毛利率 | — | 18.9% |
| 营业利润率 | 2.9% | 4.3% |
| 净利率 | — | — |
| 营收同比 | 20.2% | -5.2% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $0.24 | $-0.36 |
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FWRGOEC
| Q4 25 | $316.4M | $411.7M | ||
| Q3 25 | $316.0M | $450.9M | ||
| Q2 25 | $307.9M | $466.4M | ||
| Q1 25 | $282.2M | $477.7M | ||
| Q4 24 | $263.3M | $434.2M | ||
| Q3 24 | $251.6M | $463.4M | ||
| Q2 24 | $258.6M | $477.0M | ||
| Q1 24 | $242.4M | $502.9M |
净利润FWRGOEC
| Q4 25 | — | — | ||
| Q3 25 | $3.0M | $-67.1M | ||
| Q2 25 | $2.1M | $9.0M | ||
| Q1 25 | $-829.0K | $9.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | $2.1M | $-20.2M | ||
| Q2 24 | $8.9M | $20.5M | ||
| Q1 24 | $7.2M | $26.7M |
毛利率FWRGOEC
| Q4 25 | — | 18.9% | ||
| Q3 25 | — | 19.0% | ||
| Q2 25 | — | 21.1% | ||
| Q1 25 | — | 20.5% | ||
| Q4 24 | — | 20.6% | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 23.0% | ||
| Q1 24 | — | 24.3% |
营业利润率FWRGOEC
| Q4 25 | 2.9% | 4.3% | ||
| Q3 25 | 3.2% | -11.9% | ||
| Q2 25 | 2.4% | 6.9% | ||
| Q1 25 | 0.4% | 6.5% | ||
| Q4 24 | 1.5% | 5.4% | ||
| Q3 24 | 2.5% | -3.3% | ||
| Q2 24 | 6.4% | 8.7% | ||
| Q1 24 | 5.1% | 10.5% |
净利率FWRGOEC
| Q4 25 | — | — | ||
| Q3 25 | 0.9% | -14.9% | ||
| Q2 25 | 0.7% | 1.9% | ||
| Q1 25 | -0.3% | 1.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.8% | -4.4% | ||
| Q2 24 | 3.4% | 4.3% | ||
| Q1 24 | 3.0% | 5.3% |
每股收益（稀释后）FWRGOEC
| Q4 25 | $0.24 | $-0.36 | ||
| Q3 25 | $0.05 | $-1.20 | ||
| Q2 25 | $0.03 | $0.16 | ||
| Q1 25 | $-0.01 | $0.16 | ||
| Q4 24 | $0.01 | $0.31 | ||
| Q3 24 | $0.03 | $-0.35 | ||
| Q2 24 | $0.14 | $0.35 | ||
| Q1 24 | $0.12 | $0.45 |
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 | $60.7M |
| 总债务越低越好 | $269.1M | — |
| 股东权益账面价值 | $626.3M | $384.6M |
| 总资产 | $1.7B | $1.9B |
| 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FWRGOEC
| Q4 25 | $21.2M | $60.7M | ||
| Q3 25 | $20.7M | $51.3M | ||
| Q2 25 | $19.2M | $42.6M | ||
| Q1 25 | $18.6M | $37.5M | ||
| Q4 24 | $33.3M | $44.2M | ||
| Q3 24 | $51.1M | $53.2M | ||
| Q2 24 | $45.1M | $34.2M | ||
| Q1 24 | $43.2M | $43.9M |
总债务FWRGOEC
| 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FWRGOEC
| Q4 25 | $626.3M | $384.6M | ||
| Q3 25 | $607.3M | $401.8M | ||
| Q2 25 | $601.3M | $466.5M | ||
| Q1 25 | $596.3M | $466.1M | ||
| Q4 24 | $595.4M | $474.9M | ||
| Q3 24 | $589.1M | $476.3M | ||
| Q2 24 | $585.8M | $503.9M | ||
| Q1 24 | $574.4M | $492.2M |
总资产FWRGOEC
| Q4 25 | $1.7B | $1.9B | ||
| Q3 25 | $1.7B | $2.0B | ||
| Q2 25 | $1.7B | $2.0B | ||
| Q1 25 | $1.5B | $2.0B | ||
| Q4 24 | $1.5B | $1.9B | ||
| Q3 24 | $1.5B | $2.0B | ||
| Q2 24 | $1.4B | $1.9B | ||
| Q1 24 | $1.3B | $1.9B |
负债/权益比FWRGOEC
| 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 | $18.5M | $92.9M |
| 自由现金流经营现金流 - 资本支出 | $-18.3M | $44.2M |
| 自由现金流率自由现金流/营收 | -5.8% | 10.7% |
| 资本支出强度资本支出/营收 | 11.6% | 11.8% |
| 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 | $54.8M |
8季度趋势，按日历期对齐
经营现金流FWRGOEC
| Q4 25 | $18.5M | $92.9M | ||
| Q3 25 | $47.9M | $68.8M | ||
| Q2 25 | $39.4M | $53.7M | ||
| Q1 25 | $20.1M | $400.0K | ||
| Q4 24 | $22.9M | $94.5M | ||
| Q3 24 | $35.9M | $-30.9M | ||
| Q2 24 | $31.9M | $29.3M | ||
| Q1 24 | $25.0M | $32.4M |
自由现金流FWRGOEC
| Q4 25 | $-18.3M | $44.2M | ||
| Q3 25 | $5.5M | $27.9M | ||
| Q2 25 | $-1.7M | $11.5M | ||
| Q1 25 | $-16.4M | $-28.8M | ||
| Q4 24 | $-17.7M | $23.5M | ||
| Q3 24 | $6.8M | $-78.8M | ||
| Q2 24 | $2.3M | $-25.4M | ||
| Q1 24 | $-3.6M | $-700.0K |
自由现金流率FWRGOEC
| Q4 25 | -5.8% | 10.7% | ||
| Q3 25 | 1.7% | 6.2% | ||
| Q2 25 | -0.5% | 2.5% | ||
| Q1 25 | -5.8% | -6.0% | ||
| Q4 24 | -6.7% | 5.4% | ||
| Q3 24 | 2.7% | -17.0% | ||
| Q2 24 | 0.9% | -5.3% | ||
| Q1 24 | -1.5% | -0.1% |
资本支出强度FWRGOEC
| Q4 25 | 11.6% | 11.8% | ||
| Q3 25 | 13.4% | 9.1% | ||
| Q2 25 | 13.4% | 9.0% | ||
| Q1 25 | 13.0% | 6.1% | ||
| Q4 24 | 15.4% | 16.4% | ||
| Q3 24 | 11.6% | 10.3% | ||
| Q2 24 | 11.5% | 11.5% | ||
| Q1 24 | 11.8% | 6.6% |
现金转化率FWRGOEC
| Q4 25 | — | — | ||
| Q3 25 | 16.01× | — | ||
| Q2 25 | 18.72× | 5.97× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | — | — | ||
| Q3 24 | 16.98× | — | ||
| Q2 24 | 3.59× | 1.43× | ||
| Q1 24 | 3.46× | 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% |
OEC
| Rubber | $272.0M | 66% |
| Specialties | $139.7M | 34% |
