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First Watch Restaurant Group, Inc.（FWRG）与REPLIGEN CORP（RGEN）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REPLIGEN CORP的1.6倍（$316.4M vs $197.9M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs 13.6%），REPLIGEN CORP自由现金流更多（$17.6M vs $-18.3M），过去两年REPLIGEN CORP的营收复合增速更高（14.4% 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。
Repligen是一家全球生命科学企业，专注于创新生物工艺技术与系统的研发及商业化，助力提升生物药生产效率。公司1981年成立，总部位于美国马萨诸塞州沃尔瑟姆，于纳斯达克挂牌上市，股票代码RGEN，截至2025年全球员工超1900人，主要服务生物制药领域客户。
FWRG vs RGEN — 直观对比
营收规模更大
FWRG
是对方的1.6倍
$197.9M
营收增速更快
FWRG
高出6.5%
13.6%
自由现金流更多
RGEN
多$35.9M
$-18.3M
两年增速更快
RGEN
近两年复合增速
14.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $197.9M |
| 净利润 | — | $13.3M |
| 毛利率 | — | 52.5% |
| 营业利润率 | 2.9% | 9.0% |
| 净利率 | — | 6.7% |
| 营收同比 | 20.2% | 13.6% |
| 净利润同比 | — | 143.9% |
| 每股收益（稀释后） | $0.24 | $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FWRGRGEN
| Q4 25 | $316.4M | $197.9M | ||
| Q3 25 | $316.0M | $188.8M | ||
| Q2 25 | $307.9M | $182.4M | ||
| Q1 25 | $282.2M | $169.2M | ||
| Q4 24 | $263.3M | $174.1M | ||
| Q3 24 | $251.6M | $154.9M | ||
| Q2 24 | $258.6M | $154.1M | ||
| Q1 24 | $242.4M | $151.3M |
净利润FWRGRGEN
| Q4 25 | — | $13.3M | ||
| Q3 25 | $3.0M | $14.9M | ||
| Q2 25 | $2.1M | $14.9M | ||
| Q1 25 | $-829.0K | $5.8M | ||
| Q4 24 | — | $-30.3M | ||
| Q3 24 | $2.1M | $-654.0K | ||
| Q2 24 | $8.9M | $3.3M | ||
| Q1 24 | $7.2M | $2.1M |
毛利率FWRGRGEN
| Q4 25 | — | 52.5% | ||
| Q3 25 | — | 53.2% | ||
| Q2 25 | — | 50.0% | ||
| Q1 25 | — | 53.6% | ||
| Q4 24 | — | 26.1% | ||
| Q3 24 | — | 50.0% | ||
| Q2 24 | — | 49.8% | ||
| Q1 24 | — | 49.5% |
营业利润率FWRGRGEN
| Q4 25 | 2.9% | 9.0% | ||
| Q3 25 | 3.2% | 8.9% | ||
| Q2 25 | 2.4% | 7.6% | ||
| Q1 25 | 0.4% | 3.9% | ||
| Q4 24 | 1.5% | -17.7% | ||
| Q3 24 | 2.5% | -5.1% | ||
| Q2 24 | 6.4% | 1.0% | ||
| Q1 24 | 5.1% | 1.3% |
净利率FWRGRGEN
| Q4 25 | — | 6.7% | ||
| Q3 25 | 0.9% | 7.9% | ||
| Q2 25 | 0.7% | 8.2% | ||
| Q1 25 | -0.3% | 3.4% | ||
| Q4 24 | — | -17.4% | ||
| Q3 24 | 0.8% | -0.4% | ||
| Q2 24 | 3.4% | 2.2% | ||
| Q1 24 | 3.0% | 1.4% |
每股收益（稀释后）FWRGRGEN
| Q4 25 | $0.24 | $0.24 | ||
| Q3 25 | $0.05 | $0.26 | ||
| Q2 25 | $0.03 | $0.26 | ||
| Q1 25 | $-0.01 | $0.10 | ||
| Q4 24 | $0.01 | $-0.55 | ||
| Q3 24 | $0.03 | $-0.01 | ||
| Q2 24 | $0.14 | $0.06 | ||
| Q1 24 | $0.12 | $0.04 |
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 | $767.6M |
| 总债务越低越好 | $269.1M | $542.2M |
| 股东权益账面价值 | $626.3M | $2.1B |
| 总资产 | $1.7B | $2.9B |
| 负债/权益比越低杠杆越低 | 0.43× | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资FWRGRGEN
| Q4 25 | $21.2M | $767.6M | ||
| Q3 25 | $20.7M | $748.7M | ||
| Q2 25 | $19.2M | $708.9M | ||
| Q1 25 | $18.6M | $697.2M | ||
| Q4 24 | $33.3M | $757.4M | ||
| Q3 24 | $51.1M | $784.0M | ||
| Q2 24 | $45.1M | $809.1M | ||
| Q1 24 | $43.2M | $780.6M |
总债务FWRGRGEN
| Q4 25 | $269.1M | $542.2M | ||
| Q3 25 | $251.0M | $537.9M | ||
| Q2 25 | $250.0M | — | ||
| Q1 25 | $191.5M | — | ||
| Q4 24 | $189.0M | $525.6M | ||
| Q3 24 | $189.7M | — | ||
| Q2 24 | $192.1M | — | ||
| Q1 24 | $122.7M | — |
股东权益FWRGRGEN
| Q4 25 | $626.3M | $2.1B | ||
| Q3 25 | $607.3M | $2.1B | ||
| Q2 25 | $601.3M | $2.1B | ||
| Q1 25 | $596.3M | $2.0B | ||
| Q4 24 | $595.4M | $2.0B | ||
| Q3 24 | $589.1M | $2.0B | ||
| Q2 24 | $585.8M | $2.0B | ||
| Q1 24 | $574.4M | $2.0B |
总资产FWRGRGEN
| Q4 25 | $1.7B | $2.9B | ||
| Q3 25 | $1.7B | $2.9B | ||
| Q2 25 | $1.7B | $2.9B | ||
| Q1 25 | $1.5B | $2.9B | ||
| Q4 24 | $1.5B | $2.8B | ||
| Q3 24 | $1.5B | $2.8B | ||
| Q2 24 | $1.4B | $2.9B | ||
| Q1 24 | $1.3B | $2.8B |
负债/权益比FWRGRGEN
| Q4 25 | 0.43× | 0.26× | ||
| Q3 25 | 0.41× | 0.26× | ||
| Q2 25 | 0.42× | — | ||
| Q1 25 | 0.32× | — | ||
| Q4 24 | 0.32× | 0.27× | ||
| 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 | $25.7M |
| 自由现金流经营现金流 - 资本支出 | $-18.3M | $17.6M |
| 自由现金流率自由现金流/营收 | -5.8% | 8.9% |
| 资本支出强度资本支出/营收 | 11.6% | 4.1% |
| 现金转化率经营现金流/净利润 | — | 1.93× |
| 过去12个月自由现金流最近4个季度 | $-31.0M | $93.9M |
8季度趋势，按日历期对齐
经营现金流FWRGRGEN
| Q4 25 | $18.5M | $25.7M | ||
| Q3 25 | $47.9M | $48.1M | ||
| Q2 25 | $39.4M | $28.6M | ||
| Q1 25 | $20.1M | $15.0M | ||
| Q4 24 | $22.9M | $39.2M | ||
| Q3 24 | $35.9M | $49.3M | ||
| Q2 24 | $31.9M | $42.2M | ||
| Q1 24 | $25.0M | $44.7M |
自由现金流FWRGRGEN
| Q4 25 | $-18.3M | $17.6M | ||
| Q3 25 | $5.5M | $43.4M | ||
| Q2 25 | $-1.7M | $21.5M | ||
| Q1 25 | $-16.4M | $11.4M | ||
| Q4 24 | $-17.7M | $33.6M | ||
| Q3 24 | $6.8M | $42.3M | ||
| Q2 24 | $2.3M | $37.4M | ||
| Q1 24 | $-3.6M | $36.4M |
自由现金流率FWRGRGEN
| Q4 25 | -5.8% | 8.9% | ||
| Q3 25 | 1.7% | 23.0% | ||
| Q2 25 | -0.5% | 11.8% | ||
| Q1 25 | -5.8% | 6.8% | ||
| Q4 24 | -6.7% | 19.3% | ||
| Q3 24 | 2.7% | 27.3% | ||
| Q2 24 | 0.9% | 24.3% | ||
| Q1 24 | -1.5% | 24.0% |
资本支出强度FWRGRGEN
| Q4 25 | 11.6% | 4.1% | ||
| Q3 25 | 13.4% | 2.5% | ||
| Q2 25 | 13.4% | 3.9% | ||
| Q1 25 | 13.0% | 2.1% | ||
| Q4 24 | 15.4% | 3.2% | ||
| Q3 24 | 11.6% | 4.5% | ||
| Q2 24 | 11.5% | 3.1% | ||
| Q1 24 | 11.8% | 5.5% |
现金转化率FWRGRGEN
| Q4 25 | — | 1.93× | ||
| Q3 25 | 16.01× | 3.23× | ||
| Q2 25 | 18.72× | 1.92× | ||
| Q1 25 | — | 2.57× | ||
| Q4 24 | — | — | ||
| Q3 24 | 16.98× | — | ||
| Q2 24 | 3.59× | 12.70× | ||
| Q1 24 | 3.46× | 21.35× |
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% |
RGEN
暂无分部数据
