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First Watch Restaurant Group, Inc.（FWRG）与SSR MINING INC.（SSRM）财务数据对比。点击上方公司名可切换其他公司
SSR MINING INC.的季度营收约是First Watch Restaurant Group, Inc.的1.6倍（$521.7M vs $316.4M），SSR MINING INC.同比增速更快（61.4% vs 20.2%），SSR MINING INC.自由现金流更多（$106.4M vs $-18.3M），过去两年SSR MINING INC.的营收复合增速更高（50.5% 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。
SSR Mining Inc.（前身为白银标准资源公司）总部位于美国科罗拉多州丹佛，主营金、银、铜、铅、锌矿产开采，拥有阿根廷最大的银矿，同时在美洲全境及土耳其开展矿产勘探业务。2020年与阿拉瑟黄金合并后迁至丹佛，现任总裁兼首席执行官为罗德尼·P·安塔尔。
FWRG vs SSRM — 直观对比
营收规模更大
SSRM
是对方的1.6倍
$316.4M
营收增速更快
SSRM
高出41.3%
20.2%
自由现金流更多
SSRM
多$124.7M
$-18.3M
两年增速更快
SSRM
近两年复合增速
14.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $521.7M |
| 净利润 | — | $181.5M |
| 毛利率 | — | — |
| 营业利润率 | 2.9% | 38.8% |
| 净利率 | — | 34.8% |
| 营收同比 | 20.2% | 61.4% |
| 净利润同比 | — | 3166.6% |
| 每股收益（稀释后） | $0.24 | $0.84 |
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FWRGSSRM
| Q4 25 | $316.4M | $521.7M | ||
| Q3 25 | $316.0M | $385.8M | ||
| Q2 25 | $307.9M | $405.5M | ||
| Q1 25 | $282.2M | $316.6M | ||
| Q4 24 | $263.3M | $323.2M | ||
| Q3 24 | $251.6M | $257.4M | ||
| Q2 24 | $258.6M | $184.8M | ||
| Q1 24 | $242.4M | $230.2M |
净利润FWRGSSRM
| Q4 25 | — | $181.5M | ||
| Q3 25 | $3.0M | $65.4M | ||
| Q2 25 | $2.1M | $90.1M | ||
| Q1 25 | $-829.0K | $58.8M | ||
| Q4 24 | — | $5.6M | ||
| Q3 24 | $2.1M | $10.6M | ||
| Q2 24 | $8.9M | $9.7M | ||
| Q1 24 | $7.2M | $-287.1M |
营业利润率FWRGSSRM
| Q4 25 | 2.9% | 38.8% | ||
| Q3 25 | 3.2% | 21.6% | ||
| Q2 25 | 2.4% | 26.9% | ||
| Q1 25 | 0.4% | 21.1% | ||
| Q4 24 | 1.5% | 10.6% | ||
| Q3 24 | 2.5% | 3.5% | ||
| Q2 24 | 6.4% | 5.8% | ||
| Q1 24 | 5.1% | -163.5% |
净利率FWRGSSRM
| Q4 25 | — | 34.8% | ||
| Q3 25 | 0.9% | 17.0% | ||
| Q2 25 | 0.7% | 22.2% | ||
| Q1 25 | -0.3% | 18.6% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | 0.8% | 4.1% | ||
| Q2 24 | 3.4% | 5.2% | ||
| Q1 24 | 3.0% | -124.7% |
每股收益（稀释后）FWRGSSRM
| Q4 25 | $0.24 | $0.84 | ||
| Q3 25 | $0.05 | $0.31 | ||
| Q2 25 | $0.03 | $0.42 | ||
| Q1 25 | $-0.01 | $0.28 | ||
| Q4 24 | $0.01 | $0.03 | ||
| Q3 24 | $0.03 | $0.05 | ||
| Q2 24 | $0.14 | $0.05 | ||
| Q1 24 | $0.12 | $-1.42 |
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 | $575.6M |
| 总债务越低越好 | $269.1M | — |
| 股东权益账面价值 | $626.3M | $3.5B |
| 总资产 | $1.7B | $6.1B |
| 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FWRGSSRM
| Q4 25 | $21.2M | $575.6M | ||
| Q3 25 | $20.7M | $445.4M | ||
| Q2 25 | $19.2M | $438.5M | ||
| Q1 25 | $18.6M | $341.3M | ||
| Q4 24 | $33.3M | $417.3M | ||
| Q3 24 | $51.1M | $365.8M | ||
| Q2 24 | $45.1M | $384.4M | ||
| Q1 24 | $43.2M | $492.0M |
总债务FWRGSSRM
| Q4 25 | $269.1M | — | ||
| Q3 25 | $251.0M | — | ||
| Q2 25 | $250.0M | — | ||
| Q1 25 | $191.5M | — | ||
| Q4 24 | $189.0M | $228.6M | ||
| Q3 24 | $189.7M | $228.3M | ||
| Q2 24 | $192.1M | $228.0M | ||
| Q1 24 | $122.7M | $228.7M |
股东权益FWRGSSRM
| Q4 25 | $626.3M | $3.5B | ||
| Q3 25 | $607.3M | $3.3B | ||
| Q2 25 | $601.3M | $3.3B | ||
| Q1 25 | $596.3M | $3.2B | ||
| Q4 24 | $595.4M | $3.1B | ||
| Q3 24 | $589.1M | $3.1B | ||
| Q2 24 | $585.8M | $3.1B | ||
| Q1 24 | $574.4M | $3.1B |
总资产FWRGSSRM
| Q4 25 | $1.7B | $6.1B | ||
| Q3 25 | $1.7B | $5.9B | ||
| Q2 25 | $1.7B | $5.8B | ||
| Q1 25 | $1.5B | $5.6B | ||
| Q4 24 | $1.5B | $5.2B | ||
| Q3 24 | $1.5B | $5.1B | ||
| Q2 24 | $1.4B | $5.2B | ||
| Q1 24 | $1.3B | $5.3B |
负债/权益比FWRGSSRM
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 0.42× | — | ||
| Q1 25 | 0.32× | — | ||
| Q4 24 | 0.32× | 0.07× | ||
| Q3 24 | 0.32× | 0.07× | ||
| Q2 24 | 0.33× | 0.07× | ||
| Q1 24 | 0.21× | 0.07× |
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 | $172.1M |
| 自由现金流经营现金流 - 资本支出 | $-18.3M | $106.4M |
| 自由现金流率自由现金流/营收 | -5.8% | 20.4% |
| 资本支出强度资本支出/营收 | 11.6% | 12.6% |
| 现金转化率经营现金流/净利润 | — | 0.95× |
| 过去12个月自由现金流最近4个季度 | $-31.0M | $241.6M |
8季度趋势，按日历期对齐
经营现金流FWRGSSRM
| Q4 25 | $18.5M | $172.1M | ||
| Q3 25 | $47.9M | $57.2M | ||
| Q2 25 | $39.4M | $157.8M | ||
| Q1 25 | $20.1M | $84.8M | ||
| Q4 24 | $22.9M | $95.0M | ||
| Q3 24 | $35.9M | $-1.3M | ||
| Q2 24 | $31.9M | $-78.1M | ||
| Q1 24 | $25.0M | $24.6M |
自由现金流FWRGSSRM
| Q4 25 | $-18.3M | $106.4M | ||
| Q3 25 | $5.5M | $-2.4M | ||
| Q2 25 | $-1.7M | $98.4M | ||
| Q1 25 | $-16.4M | $39.3M | ||
| Q4 24 | $-17.7M | $56.4M | ||
| Q3 24 | $6.8M | $-34.1M | ||
| Q2 24 | $2.3M | $-116.3M | ||
| Q1 24 | $-3.6M | $-9.4M |
自由现金流率FWRGSSRM
| Q4 25 | -5.8% | 20.4% | ||
| Q3 25 | 1.7% | -0.6% | ||
| Q2 25 | -0.5% | 24.3% | ||
| Q1 25 | -5.8% | 12.4% | ||
| Q4 24 | -6.7% | 17.5% | ||
| Q3 24 | 2.7% | -13.2% | ||
| Q2 24 | 0.9% | -62.9% | ||
| Q1 24 | -1.5% | -4.1% |
资本支出强度FWRGSSRM
| Q4 25 | 11.6% | 12.6% | ||
| Q3 25 | 13.4% | 15.4% | ||
| Q2 25 | 13.4% | 14.7% | ||
| Q1 25 | 13.0% | 14.4% | ||
| Q4 24 | 15.4% | 11.9% | ||
| Q3 24 | 11.6% | 12.7% | ||
| Q2 24 | 11.5% | 20.7% | ||
| Q1 24 | 11.8% | 14.8% |
现金转化率FWRGSSRM
| Q4 25 | — | 0.95× | ||
| Q3 25 | 16.01× | 0.87× | ||
| Q2 25 | 18.72× | 1.75× | ||
| Q1 25 | — | 1.44× | ||
| Q4 24 | — | 17.10× | ||
| Q3 24 | 16.98× | -0.13× | ||
| Q2 24 | 3.59× | -8.06× | ||
| 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% |
SSRM
| Gold | $369.3M | 71% |
| Concentrate Sales | $124.4M | 24% |
| Other | $19.1M | 4% |
| Lead | $9.0M | 2% |
