vs
First Watch Restaurant Group, Inc.（FWRG）与Dave & Buster's Entertainment, Inc.（PLAY）财务数据对比。点击上方公司名可切换其他公司
Dave & Buster's Entertainment, Inc.的季度营收约是First Watch Restaurant Group, Inc.的1.4倍（$448.2M vs $316.4M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs -1.1%），First Watch Restaurant Group, Inc.自由现金流更多（$-18.3M vs $-20.6M），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs -13.5%）
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。
戴夫与巴斯特娱乐是总部位于美国达拉斯的餐饮娱乐企业，旗下每家门店都配备全套服务餐厅、酒吧以及名为“百万美元 midway”的游戏游乐区。截至2024年2月，该公司共开设162家门店，其中美国本土158家，波多黎各和加拿大各设2家门店，主打餐饮与休闲娱乐融合的消费体验。
FWRG vs PLAY — 直观对比
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $448.2M |
| 净利润 | — | $-42.1M |
| 毛利率 | — | 85.8% |
| 营业利润率 | 2.9% | -3.6% |
| 净利率 | — | -9.4% |
| 营收同比 | 20.2% | -1.1% |
| 净利润同比 | — | -28.7% |
| 每股收益（稀释后） | $0.24 | $-1.22 |
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
| Q4 25 | $316.4M | $448.2M | ||
| Q3 25 | $316.0M | $557.4M | ||
| Q2 25 | $307.9M | $567.7M | ||
| Q1 25 | $282.2M | $534.5M | ||
| Q4 24 | $263.3M | $453.0M | ||
| Q3 24 | $251.6M | $557.1M | ||
| Q2 24 | $258.6M | $588.1M | ||
| Q1 24 | $242.4M | $599.0M |
| Q4 25 | — | $-42.1M | ||
| Q3 25 | $3.0M | $11.4M | ||
| Q2 25 | $2.1M | $21.7M | ||
| Q1 25 | $-829.0K | $9.3M | ||
| Q4 24 | — | $-32.7M | ||
| Q3 24 | $2.1M | $40.3M | ||
| Q2 24 | $8.9M | $41.4M | ||
| Q1 24 | $7.2M | $36.1M |
| Q4 25 | — | 85.8% | ||
| Q3 25 | — | 86.3% | ||
| Q2 25 | — | 85.5% | ||
| Q1 25 | — | 85.5% | ||
| Q4 24 | — | 85.0% | ||
| Q3 24 | — | 85.3% | ||
| Q2 24 | — | 85.2% | ||
| Q1 24 | — | 84.1% |
| Q4 25 | 2.9% | -3.6% | ||
| Q3 25 | 3.2% | 9.5% | ||
| Q2 25 | 2.4% | 11.1% | ||
| Q1 25 | 0.4% | 8.3% | ||
| Q4 24 | 1.5% | 1.4% | ||
| Q3 24 | 2.5% | 15.2% | ||
| Q2 24 | 6.4% | 14.5% | ||
| Q1 24 | 5.1% | 14.9% |
| Q4 25 | — | -9.4% | ||
| Q3 25 | 0.9% | 2.0% | ||
| Q2 25 | 0.7% | 3.8% | ||
| Q1 25 | -0.3% | 1.7% | ||
| Q4 24 | — | -7.2% | ||
| Q3 24 | 0.8% | 7.2% | ||
| Q2 24 | 3.4% | 7.0% | ||
| Q1 24 | 3.0% | 6.0% |
| Q4 25 | $0.24 | $-1.22 | ||
| Q3 25 | $0.05 | $0.32 | ||
| Q2 25 | $0.03 | $0.62 | ||
| Q1 25 | $-0.01 | $0.32 | ||
| Q4 24 | $0.01 | $-0.84 | ||
| Q3 24 | $0.03 | $0.99 | ||
| Q2 24 | $0.14 | $0.99 | ||
| Q1 24 | $0.12 | $0.95 |
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 | $13.6M |
| 总债务越低越好 | $269.1M | $1.6B |
| 股东权益账面价值 | $626.3M | $130.8M |
| 总资产 | $1.7B | $4.1B |
| 负债/权益比越低杠杆越低 | 0.43× | 12.17× |
8季度趋势，按日历期对齐
| Q4 25 | $21.2M | $13.6M | ||
| Q3 25 | $20.7M | $12.0M | ||
| Q2 25 | $19.2M | $11.9M | ||
| Q1 25 | $18.6M | $6.9M | ||
| Q4 24 | $33.3M | $8.6M | ||
| Q3 24 | $51.1M | $13.1M | ||
| Q2 24 | $45.1M | $32.1M | ||
| Q1 24 | $43.2M | $37.3M |
| Q4 25 | $269.1M | $1.6B | ||
| Q3 25 | $251.0M | $1.6B | ||
| Q2 25 | $250.0M | $1.6B | ||
| Q1 25 | $191.5M | $1.5B | ||
| Q4 24 | $189.0M | $1.5B | ||
| Q3 24 | $189.7M | $1.3B | ||
| Q2 24 | $192.1M | $1.3B | ||
| Q1 24 | $122.7M | $1.3B |
| Q4 25 | $626.3M | $130.8M | ||
| Q3 25 | $607.3M | $166.2M | ||
| Q2 25 | $601.3M | $146.8M | ||
| Q1 25 | $596.3M | $145.8M | ||
| Q4 24 | $595.4M | $226.6M | ||
| Q3 24 | $589.1M | $284.4M | ||
| Q2 24 | $585.8M | $292.5M | ||
| Q1 24 | $574.4M | $251.2M |
| Q4 25 | $1.7B | $4.1B | ||
| Q3 25 | $1.7B | $4.1B | ||
| Q2 25 | $1.7B | $4.1B | ||
| Q1 25 | $1.5B | $4.0B | ||
| Q4 24 | $1.5B | $3.9B | ||
| Q3 24 | $1.5B | $3.8B | ||
| Q2 24 | $1.4B | $3.8B | ||
| Q1 24 | $1.3B | $3.8B |
| Q4 25 | 0.43× | 12.17× | ||
| Q3 25 | 0.41× | 9.57× | ||
| Q2 25 | 0.42× | 10.98× | ||
| Q1 25 | 0.32× | 10.45× | ||
| Q4 24 | 0.32× | 6.58× | ||
| Q3 24 | 0.32× | 4.72× | ||
| Q2 24 | 0.33× | 4.58× | ||
| Q1 24 | 0.21× | 5.33× |
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 | $58.0M |
| 自由现金流经营现金流 - 资本支出 | $-18.3M | $-20.6M |
| 自由现金流率自由现金流/营收 | -5.8% | -4.6% |
| 资本支出强度资本支出/营收 | 11.6% | 17.5% |
| 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 | $-195.6M |
8季度趋势，按日历期对齐
| Q4 25 | $18.5M | $58.0M | ||
| Q3 25 | $47.9M | $34.0M | ||
| Q2 25 | $39.4M | $95.8M | ||
| Q1 25 | $20.1M | $108.9M | ||
| Q4 24 | $22.9M | $-7.2M | ||
| Q3 24 | $35.9M | $101.8M | ||
| Q2 24 | $31.9M | $108.8M | ||
| Q1 24 | $25.0M | $97.2M |
| Q4 25 | $-18.3M | $-20.6M | ||
| Q3 25 | $5.5M | $-55.2M | ||
| Q2 25 | $-1.7M | $-58.8M | ||
| Q1 25 | $-16.4M | $-61.0M | ||
| Q4 24 | $-17.7M | $-138.4M | ||
| Q3 24 | $6.8M | $-14.3M | ||
| Q2 24 | $2.3M | $-4.2M | ||
| Q1 24 | $-3.6M | $-25.4M |
| Q4 25 | -5.8% | -4.6% | ||
| Q3 25 | 1.7% | -9.9% | ||
| Q2 25 | -0.5% | -10.4% | ||
| Q1 25 | -5.8% | -11.4% | ||
| Q4 24 | -6.7% | -30.6% | ||
| Q3 24 | 2.7% | -2.6% | ||
| Q2 24 | 0.9% | -0.7% | ||
| Q1 24 | -1.5% | -4.2% |
| Q4 25 | 11.6% | 17.5% | ||
| Q3 25 | 13.4% | 16.0% | ||
| Q2 25 | 13.4% | 27.2% | ||
| Q1 25 | 13.0% | 31.8% | ||
| Q4 24 | 15.4% | 29.0% | ||
| Q3 24 | 11.6% | 20.8% | ||
| Q2 24 | 11.5% | 19.2% | ||
| Q1 24 | 11.8% | 20.5% |
| Q4 25 | — | — | ||
| Q3 25 | 16.01× | 2.98× | ||
| Q2 25 | 18.72× | 4.41× | ||
| Q1 25 | — | 11.71× | ||
| Q4 24 | — | — | ||
| Q3 24 | 16.98× | 2.53× | ||
| Q2 24 | 3.59× | 2.63× | ||
| Q1 24 | 3.46× | 2.69× |
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% |
PLAY
| Game Play Credit Usage | $273.1M | 61% |
| Food And Nonalcoholic Beverages | $115.1M | 26% |
| Alcoholic Beverage | $53.7M | 12% |
| Other Entertainment | $6.3M | 1% |
| Gift Card Revenue | $3.5M | 1% |
