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First Watch Restaurant Group, Inc.（FWRG）与OUTFRONT Media Inc.（OUT）财务数据对比。点击上方公司名可切换其他公司
OUTFRONT Media Inc.的季度营收约是First Watch Restaurant Group, Inc.的1.6倍（$513.3M vs $316.4M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs 4.1%），OUTFRONT Media Inc.自由现金流更多（$93.3M vs $-18.3M），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs 12.1%）
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。
OUTFRONT Media Inc.是一家美国广告企业，业务覆盖美国本土，由首席执行官Nick Brien领导美洲区业务，核心经营广告牌及公共交通展示广告两大业务板块，是户外广告领域的重要参与者。
FWRG vs OUT — 直观对比
营收规模更大
OUT
是对方的1.6倍
$316.4M
营收增速更快
FWRG
高出16.1%
4.1%
自由现金流更多
OUT
多$111.6M
$-18.3M
两年增速更快
FWRG
近两年复合增速
12.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $513.3M |
| 净利润 | — | $96.8M |
| 毛利率 | — | — |
| 营业利润率 | 2.9% | 26.0% |
| 净利率 | — | 18.9% |
| 营收同比 | 20.2% | 4.1% |
| 净利润同比 | — | 30.8% |
| 每股收益（稀释后） | $0.24 | $0.57 |
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FWRGOUT
| Q4 25 | $316.4M | $513.3M | ||
| Q3 25 | $316.0M | $467.5M | ||
| Q2 25 | $307.9M | $460.2M | ||
| Q1 25 | $282.2M | $390.7M | ||
| Q4 24 | $263.3M | $493.2M | ||
| Q3 24 | $251.6M | $451.9M | ||
| Q2 24 | $258.6M | $477.3M | ||
| Q1 24 | $242.4M | $408.5M |
净利润FWRGOUT
| Q4 25 | — | $96.8M | ||
| Q3 25 | $3.0M | $51.3M | ||
| Q2 25 | $2.1M | $19.5M | ||
| Q1 25 | $-829.0K | $-20.6M | ||
| Q4 24 | — | $74.0M | ||
| Q3 24 | $2.1M | $34.6M | ||
| Q2 24 | $8.9M | $176.8M | ||
| Q1 24 | $7.2M | $-27.2M |
营业利润率FWRGOUT
| Q4 25 | 2.9% | 26.0% | ||
| Q3 25 | 3.2% | 19.2% | ||
| Q2 25 | 2.4% | 12.2% | ||
| Q1 25 | 0.4% | 3.6% | ||
| Q4 24 | 1.5% | 22.5% | ||
| Q3 24 | 2.5% | 15.8% | ||
| Q2 24 | 6.4% | 48.0% | ||
| Q1 24 | 5.1% | 3.4% |
净利率FWRGOUT
| Q4 25 | — | 18.9% | ||
| Q3 25 | 0.9% | 11.0% | ||
| Q2 25 | 0.7% | 4.2% | ||
| Q1 25 | -0.3% | -5.3% | ||
| Q4 24 | — | 15.0% | ||
| Q3 24 | 0.8% | 7.7% | ||
| Q2 24 | 3.4% | 37.0% | ||
| Q1 24 | 3.0% | -6.7% |
每股收益（稀释后）FWRGOUT
| Q4 25 | $0.24 | $0.57 | ||
| Q3 25 | $0.05 | $0.29 | ||
| Q2 25 | $0.03 | $0.10 | ||
| Q1 25 | $-0.01 | $-0.14 | ||
| Q4 24 | $0.01 | $0.49 | ||
| Q3 24 | $0.03 | $0.19 | ||
| Q2 24 | $0.14 | $1.01 | ||
| Q1 24 | $0.12 | $-0.18 |
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 | $99.9M |
| 总债务越低越好 | $269.1M | — |
| 股东权益账面价值 | $626.3M | $710.4M |
| 总资产 | $1.7B | $5.3B |
| 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FWRGOUT
| Q4 25 | $21.2M | $99.9M | ||
| Q3 25 | $20.7M | $63.0M | ||
| Q2 25 | $19.2M | $28.5M | ||
| Q1 25 | $18.6M | $30.5M | ||
| Q4 24 | $33.3M | $46.9M | ||
| Q3 24 | $51.1M | $28.0M | ||
| Q2 24 | $45.1M | $49.6M | ||
| Q1 24 | $43.2M | $42.4M |
总债务FWRGOUT
| 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FWRGOUT
| Q4 25 | $626.3M | $710.4M | ||
| Q3 25 | $607.3M | $542.6M | ||
| Q2 25 | $601.3M | $539.1M | ||
| Q1 25 | $596.3M | $566.9M | ||
| Q4 24 | $595.4M | $649.0M | ||
| Q3 24 | $589.1M | $618.2M | ||
| Q2 24 | $585.8M | $664.9M | ||
| Q1 24 | $574.4M | $524.2M |
总资产FWRGOUT
| Q4 25 | $1.7B | $5.3B | ||
| Q3 25 | $1.7B | $5.2B | ||
| Q2 25 | $1.7B | $5.1B | ||
| Q1 25 | $1.5B | $5.1B | ||
| Q4 24 | $1.5B | $5.2B | ||
| Q3 24 | $1.5B | $5.2B | ||
| Q2 24 | $1.4B | $5.3B | ||
| Q1 24 | $1.3B | $5.5B |
负债/权益比FWRGOUT
| 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 | $118.1M |
| 自由现金流经营现金流 - 资本支出 | $-18.3M | $93.3M |
| 自由现金流率自由现金流/营收 | -5.8% | 18.2% |
| 资本支出强度资本支出/营收 | 11.6% | 4.8% |
| 现金转化率经营现金流/净利润 | — | 1.22× |
| 过去12个月自由现金流最近4个季度 | $-31.0M | $218.8M |
8季度趋势，按日历期对齐
经营现金流FWRGOUT
| Q4 25 | $18.5M | $118.1M | ||
| Q3 25 | $47.9M | $88.8M | ||
| Q2 25 | $39.4M | $67.1M | ||
| Q1 25 | $20.1M | $33.6M | ||
| Q4 24 | $22.9M | $124.5M | ||
| Q3 24 | $35.9M | $73.1M | ||
| Q2 24 | $31.9M | $71.0M | ||
| Q1 24 | $25.0M | $30.6M |
自由现金流FWRGOUT
| Q4 25 | $-18.3M | $93.3M | ||
| Q3 25 | $5.5M | $67.7M | ||
| Q2 25 | $-1.7M | $41.4M | ||
| Q1 25 | $-16.4M | $16.4M | ||
| Q4 24 | $-17.7M | $106.3M | ||
| Q3 24 | $6.8M | $55.5M | ||
| Q2 24 | $2.3M | $47.1M | ||
| Q1 24 | $-3.6M | $12.2M |
自由现金流率FWRGOUT
| Q4 25 | -5.8% | 18.2% | ||
| Q3 25 | 1.7% | 14.5% | ||
| Q2 25 | -0.5% | 9.0% | ||
| Q1 25 | -5.8% | 4.2% | ||
| Q4 24 | -6.7% | 21.6% | ||
| Q3 24 | 2.7% | 12.3% | ||
| Q2 24 | 0.9% | 9.9% | ||
| Q1 24 | -1.5% | 3.0% |
资本支出强度FWRGOUT
| Q4 25 | 11.6% | 4.8% | ||
| Q3 25 | 13.4% | 4.5% | ||
| Q2 25 | 13.4% | 5.6% | ||
| Q1 25 | 13.0% | 4.4% | ||
| Q4 24 | 15.4% | 3.7% | ||
| Q3 24 | 11.6% | 3.9% | ||
| Q2 24 | 11.5% | 5.0% | ||
| Q1 24 | 11.8% | 4.5% |
现金转化率FWRGOUT
| Q4 25 | — | 1.22× | ||
| Q3 25 | 16.01× | 1.73× | ||
| Q2 25 | 18.72× | 3.44× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.68× | ||
| Q3 24 | 16.98× | 2.11× | ||
| Q2 24 | 3.59× | 0.40× | ||
| 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% |
OUT
| Static Displays | $236.3M | 46% |
| Other | $134.8M | 26% |
| Digital Displays | $125.3M | 24% |
| Other Revenues | $1.9M | 0% |
