vs
First Watch Restaurant Group, Inc.（FWRG）与Royalty Pharma plc（RPRX）财务数据对比。点击上方公司名可切换其他公司
Royalty Pharma plc的季度营收约是First Watch Restaurant Group, Inc.的2.0倍（$622.0M vs $316.4M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs 4.8%），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs 4.6%）
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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
FWRG vs RPRX — 直观对比
营收规模更大
RPRX
是对方的2.0倍
$316.4M
营收增速更快
FWRG
高出15.4%
4.8%
两年增速更快
FWRG
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $622.0M |
| 净利润 | — | $214.2M |
| 毛利率 | — | — |
| 营业利润率 | 2.9% | 62.4% |
| 净利率 | — | 34.4% |
| 营收同比 | 20.2% | 4.8% |
| 净利润同比 | — | 2.9% |
| 每股收益（稀释后） | $0.24 | $0.49 |
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FWRGRPRX
| Q4 25 | $316.4M | $622.0M | ||
| Q3 25 | $316.0M | $609.3M | ||
| Q2 25 | $307.9M | $578.7M | ||
| Q1 25 | $282.2M | $568.2M | ||
| Q4 24 | $263.3M | $593.6M | ||
| Q3 24 | $251.6M | $564.7M | ||
| Q2 24 | $258.6M | $537.3M | ||
| Q1 24 | $242.4M | $568.0M |
净利润FWRGRPRX
| Q4 25 | — | $214.2M | ||
| Q3 25 | $3.0M | $288.2M | ||
| Q2 25 | $2.1M | $30.2M | ||
| Q1 25 | $-829.0K | $238.3M | ||
| Q4 24 | — | $208.2M | ||
| Q3 24 | $2.1M | $544.0M | ||
| Q2 24 | $8.9M | $102.0M | ||
| Q1 24 | $7.2M | $4.8M |
营业利润率FWRGRPRX
| Q4 25 | 2.9% | 62.4% | ||
| Q3 25 | 3.2% | 70.1% | ||
| Q2 25 | 2.4% | 36.3% | ||
| Q1 25 | 0.4% | 94.0% | ||
| Q4 24 | 1.5% | 60.9% | ||
| Q3 24 | 2.5% | — | ||
| Q2 24 | 6.4% | 50.2% | ||
| Q1 24 | 5.1% | -13.0% |
净利率FWRGRPRX
| Q4 25 | — | 34.4% | ||
| Q3 25 | 0.9% | 47.3% | ||
| Q2 25 | 0.7% | 5.2% | ||
| Q1 25 | -0.3% | 41.9% | ||
| Q4 24 | — | 35.1% | ||
| Q3 24 | 0.8% | 96.3% | ||
| Q2 24 | 3.4% | 19.0% | ||
| Q1 24 | 3.0% | 0.8% |
每股收益（稀释后）FWRGRPRX
| Q4 25 | $0.24 | $0.49 | ||
| Q3 25 | $0.05 | $0.67 | ||
| Q2 25 | $0.03 | $0.07 | ||
| Q1 25 | $-0.01 | $0.55 | ||
| Q4 24 | $0.01 | $0.46 | ||
| Q3 24 | $0.03 | $1.21 | ||
| Q2 24 | $0.14 | $0.23 | ||
| Q1 24 | $0.12 | $0.01 |
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 | $618.7M |
| 总债务越低越好 | $269.1M | $9.0B |
| 股东权益账面价值 | $626.3M | $9.7B |
| 总资产 | $1.7B | $19.6B |
| 负债/权益比越低杠杆越低 | 0.43× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资FWRGRPRX
| Q4 25 | $21.2M | $618.7M | ||
| Q3 25 | $20.7M | $938.9M | ||
| Q2 25 | $19.2M | $631.9M | ||
| Q1 25 | $18.6M | $1.1B | ||
| Q4 24 | $33.3M | $929.0M | ||
| Q3 24 | $51.1M | $950.1M | ||
| Q2 24 | $45.1M | $1.8B | ||
| Q1 24 | $43.2M | $843.0M |
总债务FWRGRPRX
| Q4 25 | $269.1M | $9.0B | ||
| Q3 25 | $251.0M | $8.9B | ||
| Q2 25 | $250.0M | $8.0B | ||
| Q1 25 | $191.5M | $7.6B | ||
| Q4 24 | $189.0M | $7.6B | ||
| Q3 24 | $189.7M | $7.6B | ||
| Q2 24 | $192.1M | $7.6B | ||
| Q1 24 | $122.7M | $6.1B |
股东权益FWRGRPRX
| Q4 25 | $626.3M | $9.7B | ||
| Q3 25 | $607.3M | $9.6B | ||
| Q2 25 | $601.3M | $9.5B | ||
| Q1 25 | $596.3M | $9.8B | ||
| Q4 24 | $595.4M | $10.3B | ||
| Q3 24 | $589.1M | $10.3B | ||
| Q2 24 | $585.8M | $9.8B | ||
| Q1 24 | $574.4M | $9.9B |
总资产FWRGRPRX
| Q4 25 | $1.7B | $19.6B | ||
| Q3 25 | $1.7B | $19.3B | ||
| Q2 25 | $1.7B | $18.3B | ||
| Q1 25 | $1.5B | $17.6B | ||
| Q4 24 | $1.5B | $18.2B | ||
| Q3 24 | $1.5B | $18.0B | ||
| Q2 24 | $1.4B | $17.7B | ||
| Q1 24 | $1.3B | $16.1B |
负债/权益比FWRGRPRX
| Q4 25 | 0.43× | 0.92× | ||
| Q3 25 | 0.41× | 0.93× | ||
| Q2 25 | 0.42× | 0.84× | ||
| Q1 25 | 0.32× | 0.78× | ||
| Q4 24 | 0.32× | 0.74× | ||
| Q3 24 | 0.32× | 0.74× | ||
| Q2 24 | 0.33× | 0.78× | ||
| Q1 24 | 0.21× | 0.62× |
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 | $827.1M |
| 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 | — | 3.86× |
| 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FWRGRPRX
| Q4 25 | $18.5M | $827.1M | ||
| Q3 25 | $47.9M | $702.6M | ||
| Q2 25 | $39.4M | $364.0M | ||
| Q1 25 | $20.1M | $596.1M | ||
| Q4 24 | $22.9M | $742.5M | ||
| Q3 24 | $35.9M | $703.6M | ||
| Q2 24 | $31.9M | $658.2M | ||
| Q1 24 | $25.0M | $664.6M |
自由现金流FWRGRPRX
| 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FWRGRPRX
| 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FWRGRPRX
| 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FWRGRPRX
| Q4 25 | — | 3.86× | ||
| Q3 25 | 16.01× | 2.44× | ||
| Q2 25 | 18.72× | 12.06× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | 16.98× | 1.29× | ||
| Q2 24 | 3.59× | 6.45× | ||
| Q1 24 | 3.46× | 139.10× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
