vs
First Watch Restaurant Group, Inc.（FWRG）与BRC Group Holdings, Inc.（RILY）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BRC Group Holdings, Inc.的1.7倍（$316.4M vs $188.3M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs -21.9%），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs -15.4%）
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。
FWRG vs RILY — 直观对比
营收规模更大
FWRG
是对方的1.7倍
$188.3M
营收增速更快
FWRG
高出42.0%
-21.9%
两年增速更快
FWRG
近两年复合增速
-15.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $188.3M |
| 净利润 | — | $90.3M |
| 毛利率 | — | 79.5% |
| 营业利润率 | 2.9% | 32.3% |
| 净利率 | — | 47.9% |
| 营收同比 | 20.2% | -21.9% |
| 净利润同比 | — | 1710.8% |
| 每股收益（稀释后） | $0.24 | $2.78 |
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FWRGRILY
| Q4 25 | $316.4M | $188.3M | ||
| Q3 25 | $316.0M | $215.3M | ||
| Q2 25 | $307.9M | $188.2M | ||
| Q1 25 | $282.2M | $197.2M | ||
| Q4 24 | $263.3M | $241.0M | ||
| Q3 24 | $251.6M | $225.5M | ||
| Q2 24 | $258.6M | $256.0M | ||
| Q1 24 | $242.4M | $263.4M |
净利润FWRGRILY
| Q4 25 | — | $90.3M | ||
| Q3 25 | $3.0M | $91.1M | ||
| Q2 25 | $2.1M | $139.5M | ||
| Q1 25 | $-829.0K | $-10.0M | ||
| Q4 24 | — | $-5.6M | ||
| Q3 24 | $2.1M | $-284.4M | ||
| Q2 24 | $8.9M | $-433.6M | ||
| Q1 24 | $7.2M | $-49.2M |
毛利率FWRGRILY
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 83.7% | ||
| Q2 25 | — | 81.3% | ||
| Q1 25 | — | 81.4% | ||
| Q4 24 | — | 79.8% | ||
| Q3 24 | — | 82.1% | ||
| Q2 24 | — | 84.5% | ||
| Q1 24 | — | 85.3% |
营业利润率FWRGRILY
| Q4 25 | 2.9% | 32.3% | ||
| Q3 25 | 3.2% | 30.4% | ||
| Q2 25 | 2.4% | 5.7% | ||
| Q1 25 | 0.4% | -31.2% | ||
| Q4 24 | 1.5% | -69.2% | ||
| Q3 24 | 2.5% | -36.4% | ||
| Q2 24 | 6.4% | -90.8% | ||
| Q1 24 | 5.1% | -6.1% |
净利率FWRGRILY
| Q4 25 | — | 47.9% | ||
| Q3 25 | 0.9% | 42.3% | ||
| Q2 25 | 0.7% | 74.1% | ||
| Q1 25 | -0.3% | -5.1% | ||
| Q4 24 | — | -2.3% | ||
| Q3 24 | 0.8% | -126.1% | ||
| Q2 24 | 3.4% | -169.4% | ||
| Q1 24 | 3.0% | -18.7% |
每股收益（稀释后）FWRGRILY
| Q4 25 | $0.24 | $2.78 | ||
| Q3 25 | $0.05 | $2.91 | ||
| Q2 25 | $0.03 | $4.50 | ||
| Q1 25 | $-0.01 | $-0.39 | ||
| Q4 24 | $0.01 | $-0.01 | ||
| Q3 24 | $0.03 | $-9.39 | ||
| Q2 24 | $0.14 | $-14.35 | ||
| Q1 24 | $0.12 | $-1.71 |
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 | $226.6M |
| 总债务越低越好 | $269.1M | $1.4B |
| 股东权益账面价值 | $626.3M | $-171.5M |
| 总资产 | $1.7B | $1.7B |
| 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FWRGRILY
| Q4 25 | $21.2M | $226.6M | ||
| Q3 25 | $20.7M | $184.2M | ||
| Q2 25 | $19.2M | $267.4M | ||
| Q1 25 | $18.6M | $138.3M | ||
| Q4 24 | $33.3M | $146.9M | ||
| Q3 24 | $51.1M | $159.2M | ||
| Q2 24 | $45.1M | $236.9M | ||
| Q1 24 | $43.2M | $190.7M |
总债务FWRGRILY
| Q4 25 | $269.1M | $1.4B | ||
| Q3 25 | $251.0M | $1.3B | ||
| Q2 25 | $250.0M | $1.3B | ||
| Q1 25 | $191.5M | $1.4B | ||
| Q4 24 | $189.0M | $1.5B | ||
| Q3 24 | $189.7M | — | ||
| Q2 24 | $192.1M | — | ||
| Q1 24 | $122.7M | — |
股东权益FWRGRILY
| Q4 25 | $626.3M | $-171.5M | ||
| Q3 25 | $607.3M | $-260.5M | ||
| Q2 25 | $601.3M | $-351.7M | ||
| Q1 25 | $596.3M | $-496.8M | ||
| Q4 24 | $595.4M | $-488.2M | ||
| Q3 24 | $589.1M | $-497.6M | ||
| Q2 24 | $585.8M | $-218.3M | ||
| Q1 24 | $574.4M | $228.4M |
总资产FWRGRILY
| Q4 25 | $1.7B | $1.7B | ||
| Q3 25 | $1.7B | $1.7B | ||
| Q2 25 | $1.7B | $1.5B | ||
| Q1 25 | $1.5B | $1.5B | ||
| Q4 24 | $1.5B | $1.8B | ||
| Q3 24 | $1.5B | $2.2B | ||
| Q2 24 | $1.4B | $3.2B | ||
| Q1 24 | $1.3B | $5.0B |
负债/权益比FWRGRILY
| 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 | $26.2M |
| 自由现金流经营现金流 - 资本支出 | $-18.3M | — |
| 自由现金流率自由现金流/营收 | -5.8% | — |
| 资本支出强度资本支出/营收 | 11.6% | — |
| 现金转化率经营现金流/净利润 | — | 0.29× |
| 过去12个月自由现金流最近4个季度 | $-31.0M | — |
8季度趋势，按日历期对齐
经营现金流FWRGRILY
| Q4 25 | $18.5M | $26.2M | ||
| Q3 25 | $47.9M | $-60.6M | ||
| Q2 25 | $39.4M | $-25.6M | ||
| Q1 25 | $20.1M | $184.0K | ||
| Q4 24 | $22.9M | $-2.7M | ||
| Q3 24 | $35.9M | $19.5M | ||
| Q2 24 | $31.9M | $111.5M | ||
| Q1 24 | $25.0M | $135.4M |
自由现金流FWRGRILY
| Q4 25 | $-18.3M | — | ||
| Q3 25 | $5.5M | — | ||
| Q2 25 | $-1.7M | — | ||
| Q1 25 | $-16.4M | — | ||
| Q4 24 | $-17.7M | — | ||
| Q3 24 | $6.8M | — | ||
| Q2 24 | $2.3M | — | ||
| Q1 24 | $-3.6M | — |
自由现金流率FWRGRILY
| Q4 25 | -5.8% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | -0.5% | — | ||
| Q1 25 | -5.8% | — | ||
| Q4 24 | -6.7% | — | ||
| Q3 24 | 2.7% | — | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | -1.5% | — |
资本支出强度FWRGRILY
| Q4 25 | 11.6% | — | ||
| Q3 25 | 13.4% | — | ||
| Q2 25 | 13.4% | — | ||
| Q1 25 | 13.0% | — | ||
| Q4 24 | 15.4% | — | ||
| Q3 24 | 11.6% | — | ||
| Q2 24 | 11.5% | — | ||
| Q1 24 | 11.8% | — |
现金转化率FWRGRILY
| Q4 25 | — | 0.29× | ||
| Q3 25 | 16.01× | -0.66× | ||
| Q2 25 | 18.72× | -0.18× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 16.98× | — | ||
| 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% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
