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First Watch Restaurant Group, Inc.（FWRG）与GIBRALTAR INDUSTRIES, INC.（ROCK）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GIBRALTAR INDUSTRIES, INC.的1.4倍（$316.4M vs $225.0M），GIBRALTAR INDUSTRIES, INC.同比增速更快（24.9% vs 20.2%），GIBRALTAR INDUSTRIES, INC.自由现金流更多（$26.2M vs $-18.3M），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs -12.3%）
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。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
FWRG vs ROCK — 直观对比
营收规模更大
FWRG
是对方的1.4倍
$225.0M
营收增速更快
ROCK
高出4.8%
20.2%
自由现金流更多
ROCK
多$44.6M
$-18.3M
两年增速更快
FWRG
近两年复合增速
-12.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $225.0M |
| 净利润 | — | — |
| 毛利率 | — | 25.3% |
| 营业利润率 | 2.9% | 7.9% |
| 净利率 | — | — |
| 营收同比 | 20.2% | 24.9% |
| 净利润同比 | — | — |
| 每股收益（稀释后） | $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FWRGROCK
| Q4 25 | $316.4M | $225.0M | ||
| Q3 25 | $316.0M | $310.9M | ||
| Q2 25 | $307.9M | $309.5M | ||
| Q1 25 | $282.2M | $290.0M | ||
| Q4 24 | $263.3M | $180.1M | ||
| Q3 24 | $251.6M | $277.1M | ||
| Q2 24 | $258.6M | $273.6M | ||
| Q1 24 | $242.4M | $292.5M |
净利润FWRGROCK
| Q4 25 | — | — | ||
| Q3 25 | $3.0M | $-89.1M | ||
| Q2 25 | $2.1M | $26.0M | ||
| Q1 25 | $-829.0K | $21.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | $2.1M | $34.0M | ||
| Q2 24 | $8.9M | $32.2M | ||
| Q1 24 | $7.2M | $24.9M |
毛利率FWRGROCK
| Q4 25 | — | 25.3% | ||
| Q3 25 | — | 26.6% | ||
| Q2 25 | — | 28.4% | ||
| Q1 25 | — | 26.8% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 30.5% | ||
| Q1 24 | — | 28.9% |
营业利润率FWRGROCK
| Q4 25 | 2.9% | 7.9% | ||
| Q3 25 | 3.2% | 12.8% | ||
| Q2 25 | 2.4% | 12.8% | ||
| Q1 25 | 0.4% | 8.8% | ||
| Q4 24 | 1.5% | 13.3% | ||
| Q3 24 | 2.5% | 15.6% | ||
| Q2 24 | 6.4% | 14.9% | ||
| Q1 24 | 5.1% | 10.8% |
净利率FWRGROCK
| Q4 25 | — | — | ||
| Q3 25 | 0.9% | -28.6% | ||
| Q2 25 | 0.7% | 8.4% | ||
| Q1 25 | -0.3% | 7.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.8% | 12.3% | ||
| Q2 24 | 3.4% | 11.8% | ||
| Q1 24 | 3.0% | 8.5% |
每股收益（稀释后）FWRGROCK
| Q4 25 | $0.24 | — | ||
| Q3 25 | $0.05 | $-2.98 | ||
| Q2 25 | $0.03 | $0.87 | ||
| Q1 25 | $-0.01 | — | ||
| Q4 24 | $0.01 | — | ||
| Q3 24 | $0.03 | $1.11 | ||
| Q2 24 | $0.14 | $1.05 | ||
| Q1 24 | $0.12 | — |
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 | $115.7M |
| 总债务越低越好 | $269.1M | $0 |
| 股东权益账面价值 | $626.3M | $950.4M |
| 总资产 | $1.7B | $1.4B |
| 负债/权益比越低杠杆越低 | 0.43× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资FWRGROCK
| Q4 25 | $21.2M | $115.7M | ||
| Q3 25 | $20.7M | $89.4M | ||
| Q2 25 | $19.2M | $43.3M | ||
| Q1 25 | $18.6M | $25.1M | ||
| Q4 24 | $33.3M | $269.5M | ||
| Q3 24 | $51.1M | $228.9M | ||
| Q2 24 | $45.1M | $179.1M | ||
| Q1 24 | $43.2M | $146.7M |
总债务FWRGROCK
| Q4 25 | $269.1M | $0 | ||
| Q3 25 | $251.0M | $0 | ||
| Q2 25 | $250.0M | $0 | ||
| Q1 25 | $191.5M | $0 | ||
| Q4 24 | $189.0M | $0 | ||
| Q3 24 | $189.7M | $0 | ||
| Q2 24 | $192.1M | $0 | ||
| Q1 24 | $122.7M | $0 |
股东权益FWRGROCK
| Q4 25 | $626.3M | $950.4M | ||
| Q3 25 | $607.3M | $951.8M | ||
| Q2 25 | $601.3M | $1.0B | ||
| Q1 25 | $596.3M | $1.0B | ||
| Q4 24 | $595.4M | $1.0B | ||
| Q3 24 | $589.1M | $1.0B | ||
| Q2 24 | $585.8M | $975.7M | ||
| Q1 24 | $574.4M | $940.2M |
总资产FWRGROCK
| Q4 25 | $1.7B | $1.4B | ||
| Q3 25 | $1.7B | $1.4B | ||
| Q2 25 | $1.7B | $1.5B | ||
| Q1 25 | $1.5B | $1.4B | ||
| Q4 24 | $1.5B | $1.4B | ||
| Q3 24 | $1.5B | $1.4B | ||
| Q2 24 | $1.4B | $1.4B | ||
| Q1 24 | $1.3B | $1.3B |
负债/权益比FWRGROCK
| Q4 25 | 0.43× | 0.00× | ||
| Q3 25 | 0.41× | 0.00× | ||
| Q2 25 | 0.42× | 0.00× | ||
| Q1 25 | 0.32× | 0.00× | ||
| Q4 24 | 0.32× | 0.00× | ||
| Q3 24 | 0.32× | 0.00× | ||
| Q2 24 | 0.33× | 0.00× | ||
| Q1 24 | 0.21× | 0.00× |
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 | $35.5M |
| 自由现金流经营现金流 - 资本支出 | $-18.3M | $26.2M |
| 自由现金流率自由现金流/营收 | -5.8% | 11.7% |
| 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 | — | — |
| 过去12个月自由现金流最近4个季度 | $-31.0M | $120.6M |
8季度趋势，按日历期对齐
经营现金流FWRGROCK
| Q4 25 | $18.5M | $35.5M | ||
| Q3 25 | $47.9M | $73.0M | ||
| Q2 25 | $39.4M | $44.9M | ||
| Q1 25 | $20.1M | $13.7M | ||
| Q4 24 | $22.9M | $19.9M | ||
| Q3 24 | $35.9M | $64.7M | ||
| Q2 24 | $31.9M | $36.5M | ||
| Q1 24 | $25.0M | $53.2M |
自由现金流FWRGROCK
| Q4 25 | $-18.3M | $26.2M | ||
| Q3 25 | $5.5M | $64.8M | ||
| Q2 25 | $-1.7M | $27.3M | ||
| Q1 25 | $-16.4M | $2.3M | ||
| Q4 24 | $-17.7M | $14.1M | ||
| Q3 24 | $6.8M | $60.5M | ||
| Q2 24 | $2.3M | $33.5M | ||
| Q1 24 | $-3.6M | $48.8M |
自由现金流率FWRGROCK
| Q4 25 | -5.8% | 11.7% | ||
| Q3 25 | 1.7% | 20.8% | ||
| Q2 25 | -0.5% | 8.8% | ||
| Q1 25 | -5.8% | 0.8% | ||
| Q4 24 | -6.7% | 7.8% | ||
| Q3 24 | 2.7% | 21.8% | ||
| Q2 24 | 0.9% | 12.2% | ||
| Q1 24 | -1.5% | 16.7% |
资本支出强度FWRGROCK
| Q4 25 | 11.6% | 4.1% | ||
| Q3 25 | 13.4% | 2.6% | ||
| Q2 25 | 13.4% | 5.7% | ||
| Q1 25 | 13.0% | 3.9% | ||
| Q4 24 | 15.4% | 3.3% | ||
| Q3 24 | 11.6% | 1.5% | ||
| Q2 24 | 11.5% | 1.1% | ||
| Q1 24 | 11.8% | 1.5% |
现金转化率FWRGROCK
| Q4 25 | — | — | ||
| Q3 25 | 16.01× | — | ||
| Q2 25 | 18.72× | 1.73× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | — | ||
| Q3 24 | 16.98× | 1.90× | ||
| Q2 24 | 3.59× | 1.13× | ||
| Q1 24 | 3.46× | 2.13× |
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% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
