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First Watch Restaurant Group, Inc.（FWRG）与RAYONIER ADVANCED MATERIALS INC.（RYAM）财务数据对比。点击上方公司名可切换其他公司
RAYONIER ADVANCED MATERIALS INC.的季度营收约是First Watch Restaurant Group, Inc.的1.3倍（$417.5M vs $316.4M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs -1.2%），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs 3.8%）
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。
RYAM（原雷尼尔先进材料公司）是一家美国全球性纤维素技术企业，主打高纯度特种纤维素产品，所生产的天然聚合物广泛应用于过滤器生产、食品加工、医药制造及各类工业领域，同时也为造纸和包装行业供应相关产品，在纤维素技术领域拥有较高的行业认可度。
FWRG vs RYAM — 直观对比
营收规模更大
RYAM
是对方的1.3倍
$316.4M
营收增速更快
FWRG
高出21.3%
-1.2%
两年增速更快
FWRG
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $417.5M |
| 净利润 | — | $-21.1M |
| 毛利率 | — | 8.9% |
| 营业利润率 | 2.9% | 2.6% |
| 净利率 | — | -5.0% |
| 营收同比 | 20.2% | -1.2% |
| 净利润同比 | — | -31.9% |
| 每股收益（稀释后） | $0.24 | $-0.33 |
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FWRGRYAM
| Q4 25 | $316.4M | $417.5M | ||
| Q3 25 | $316.0M | $352.8M | ||
| Q2 25 | $307.9M | $340.0M | ||
| Q1 25 | $282.2M | $356.0M | ||
| Q4 24 | $263.3M | $422.5M | ||
| Q3 24 | $251.6M | $401.1M | ||
| Q2 24 | $258.6M | $419.0M | ||
| Q1 24 | $242.4M | $387.7M |
净利润FWRGRYAM
| Q4 25 | — | $-21.1M | ||
| Q3 25 | $3.0M | $-4.5M | ||
| Q2 25 | $2.1M | $-363.2M | ||
| Q1 25 | $-829.0K | $-32.0M | ||
| Q4 24 | — | $-16.0M | ||
| Q3 24 | $2.1M | $-32.6M | ||
| Q2 24 | $8.9M | $11.4M | ||
| Q1 24 | $7.2M | $-1.6M |
毛利率FWRGRYAM
| Q4 25 | — | 8.9% | ||
| Q3 25 | — | 9.7% | ||
| Q2 25 | — | 7.0% | ||
| Q1 25 | — | 6.8% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | — | 10.9% | ||
| Q2 24 | — | 11.5% | ||
| Q1 24 | — | 9.5% |
营业利润率FWRGRYAM
| Q4 25 | 2.9% | 2.6% | ||
| Q3 25 | 3.2% | 2.8% | ||
| Q2 25 | 2.4% | -0.4% | ||
| Q1 25 | 0.4% | -4.2% | ||
| Q4 24 | 1.5% | 2.6% | ||
| Q3 24 | 2.5% | -4.2% | ||
| Q2 24 | 6.4% | 6.7% | ||
| Q1 24 | 5.1% | 4.4% |
净利率FWRGRYAM
| Q4 25 | — | -5.0% | ||
| Q3 25 | 0.9% | -1.3% | ||
| Q2 25 | 0.7% | -106.8% | ||
| Q1 25 | -0.3% | -9.0% | ||
| Q4 24 | — | -3.8% | ||
| Q3 24 | 0.8% | -8.1% | ||
| Q2 24 | 3.4% | 2.7% | ||
| Q1 24 | 3.0% | -0.4% |
每股收益（稀释后）FWRGRYAM
| Q4 25 | $0.24 | $-0.33 | ||
| Q3 25 | $0.05 | $-0.07 | ||
| Q2 25 | $0.03 | $-5.44 | ||
| Q1 25 | $-0.01 | $-0.49 | ||
| Q4 24 | $0.01 | $-0.25 | ||
| Q3 24 | $0.03 | $-0.49 | ||
| Q2 24 | $0.14 | $0.17 | ||
| Q1 24 | $0.12 | $-0.02 |
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 | $75.4M |
| 总债务越低越好 | $269.1M | $758.1M |
| 股东权益账面价值 | $626.3M | $316.6M |
| 总资产 | $1.7B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.43× | 2.39× |
8季度趋势，按日历期对齐
现金及短期投资FWRGRYAM
| Q4 25 | $21.2M | $75.4M | ||
| Q3 25 | $20.7M | $77.0M | ||
| Q2 25 | $19.2M | $70.7M | ||
| Q1 25 | $18.6M | $129.9M | ||
| Q4 24 | $33.3M | $125.2M | ||
| Q3 24 | $51.1M | $136.1M | ||
| Q2 24 | $45.1M | $114.1M | ||
| Q1 24 | $43.2M | $54.6M |
总债务FWRGRYAM
| Q4 25 | $269.1M | $758.1M | ||
| Q3 25 | $251.0M | $763.5M | ||
| Q2 25 | $250.0M | $720.4M | ||
| Q1 25 | $191.5M | $707.0M | ||
| Q4 24 | $189.0M | $706.4M | ||
| Q3 24 | $189.7M | $747.7M | ||
| Q2 24 | $192.1M | $752.8M | ||
| Q1 24 | $122.7M | $755.6M |
股东权益FWRGRYAM
| Q4 25 | $626.3M | $316.6M | ||
| Q3 25 | $607.3M | $338.2M | ||
| Q2 25 | $601.3M | $342.3M | ||
| Q1 25 | $596.3M | $688.1M | ||
| Q4 24 | $595.4M | $713.9M | ||
| Q3 24 | $589.1M | $732.7M | ||
| Q2 24 | $585.8M | $755.1M | ||
| Q1 24 | $574.4M | $741.8M |
总资产FWRGRYAM
| Q4 25 | $1.7B | $1.8B | ||
| Q3 25 | $1.7B | $1.8B | ||
| Q2 25 | $1.7B | $1.8B | ||
| Q1 25 | $1.5B | $2.1B | ||
| Q4 24 | $1.5B | $2.1B | ||
| Q3 24 | $1.5B | $2.2B | ||
| Q2 24 | $1.4B | $2.2B | ||
| Q1 24 | $1.3B | $2.1B |
负债/权益比FWRGRYAM
| Q4 25 | 0.43× | 2.39× | ||
| Q3 25 | 0.41× | 2.26× | ||
| Q2 25 | 0.42× | 2.10× | ||
| Q1 25 | 0.32× | 1.03× | ||
| Q4 24 | 0.32× | 0.99× | ||
| Q3 24 | 0.32× | 1.02× | ||
| Q2 24 | 0.33× | 1.00× | ||
| Q1 24 | 0.21× | 1.02× |
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 | $32.3M |
| 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 | — | — |
| 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FWRGRYAM
| Q4 25 | $18.5M | $32.3M | ||
| Q3 25 | $47.9M | $-17.8M | ||
| Q2 25 | $39.4M | $-30.2M | ||
| Q1 25 | $20.1M | $39.6M | ||
| Q4 24 | $22.9M | $54.9M | ||
| Q3 24 | $35.9M | $49.8M | ||
| Q2 24 | $31.9M | $87.6M | ||
| Q1 24 | $25.0M | $11.3M |
自由现金流FWRGRYAM
| 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FWRGRYAM
| 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FWRGRYAM
| 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FWRGRYAM
| Q4 25 | — | — | ||
| Q3 25 | 16.01× | — | ||
| Q2 25 | 18.72× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 16.98× | — | ||
| Q2 24 | 3.59× | 7.69× | ||
| 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% |
RYAM
| Cellulose Specialties | $249.6M | 60% |
| Other | $86.2M | 21% |
| Paperboard | $44.2M | 11% |
| High Yield Pulp | $28.3M | 7% |
| Biomaterials | $9.2M | 2% |
