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First Watch Restaurant Group, Inc.（FWRG）与医疗房产信托（SVC）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.的季度营收约是医疗房产信托的1.1倍（$316.4M vs $296.5M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs -17.0%），First Watch Restaurant Group, Inc.自由现金流更多（$-18.3M vs $-95.2M），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs -6.1%）
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。
医疗房产信托（MPT）是总部位于阿拉巴马州伯明翰的国际房地产投资信托（REIT），主要在美国和欧洲地区收购投资医疗设施与营利性医疗控股公司。该公司的房产收购多采用售后回租模式，原产权方出售房产给MPT后成为承租租户，其租户普遍签订长期三净租约。
FWRG vs SVC — 直观对比
营收规模更大
FWRG
是对方的1.1倍
$296.5M
营收增速更快
FWRG
高出37.1%
-17.0%
自由现金流更多
FWRG
多$76.8M
$-95.2M
两年增速更快
FWRG
近两年复合增速
-6.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $296.5M |
| 净利润 | — | $-782.0K |
| 毛利率 | — | — |
| 营业利润率 | 2.9% | -3.9% |
| 净利率 | — | -0.3% |
| 营收同比 | 20.2% | -17.0% |
| 净利润同比 | — | 99.0% |
| 每股收益（稀释后） | $0.24 | $-0.01 |
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FWRGSVC
| Q4 25 | $316.4M | $296.5M | ||
| Q3 25 | $316.0M | $377.6M | ||
| Q2 25 | $307.9M | $404.4M | ||
| Q1 25 | $282.2M | $335.0M | ||
| Q4 24 | $263.3M | $357.0M | ||
| Q3 24 | $251.6M | $390.9M | ||
| Q2 24 | $258.6M | $412.5M | ||
| Q1 24 | $242.4M | $336.2M |
净利润FWRGSVC
| Q4 25 | — | $-782.0K | ||
| Q3 25 | $3.0M | $-46.9M | ||
| Q2 25 | $2.1M | $-38.2M | ||
| Q1 25 | $-829.0K | $-116.4M | ||
| Q4 24 | — | $-76.4M | ||
| Q3 24 | $2.1M | $-46.9M | ||
| Q2 24 | $8.9M | $-73.8M | ||
| Q1 24 | $7.2M | $-78.4M |
营业利润率FWRGSVC
| Q4 25 | 2.9% | -3.9% | ||
| Q3 25 | 3.2% | -12.8% | ||
| Q2 25 | 2.4% | -9.2% | ||
| Q1 25 | 0.4% | -33.3% | ||
| Q4 24 | 1.5% | -19.4% | ||
| Q3 24 | 2.5% | -12.8% | ||
| Q2 24 | 6.4% | -17.1% | ||
| Q1 24 | 5.1% | -21.4% |
净利率FWRGSVC
| Q4 25 | — | -0.3% | ||
| Q3 25 | 0.9% | -12.4% | ||
| Q2 25 | 0.7% | -9.4% | ||
| Q1 25 | -0.3% | -34.8% | ||
| Q4 24 | — | -21.4% | ||
| Q3 24 | 0.8% | -12.0% | ||
| Q2 24 | 3.4% | -17.9% | ||
| Q1 24 | 3.0% | -23.3% |
每股收益（稀释后）FWRGSVC
| Q4 25 | $0.24 | $-0.01 | ||
| Q3 25 | $0.05 | $-0.28 | ||
| Q2 25 | $0.03 | $-0.23 | ||
| Q1 25 | $-0.01 | $-0.70 | ||
| Q4 24 | $0.01 | $-0.46 | ||
| Q3 24 | $0.03 | $-0.28 | ||
| Q2 24 | $0.14 | $-0.45 | ||
| Q1 24 | $0.12 | $-0.48 |
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 | $346.8M |
| 总债务越低越好 | $269.1M | $5.5B |
| 股东权益账面价值 | $626.3M | $646.1M |
| 总资产 | $1.7B | $6.5B |
| 负债/权益比越低杠杆越低 | 0.43× | 8.52× |
8季度趋势，按日历期对齐
现金及短期投资FWRGSVC
| Q4 25 | $21.2M | $346.8M | ||
| Q3 25 | $20.7M | $417.4M | ||
| Q2 25 | $19.2M | $63.2M | ||
| Q1 25 | $18.6M | $80.1M | ||
| Q4 24 | $33.3M | $143.5M | ||
| Q3 24 | $51.1M | $48.6M | ||
| Q2 24 | $45.1M | $14.6M | ||
| Q1 24 | $43.2M | $71.3M |
总债务FWRGSVC
| Q4 25 | $269.1M | $5.5B | ||
| Q3 25 | $251.0M | — | ||
| Q2 25 | $250.0M | — | ||
| Q1 25 | $191.5M | — | ||
| Q4 24 | $189.0M | $5.8B | ||
| Q3 24 | $189.7M | — | ||
| Q2 24 | $192.1M | — | ||
| Q1 24 | $122.7M | — |
股东权益FWRGSVC
| Q4 25 | $626.3M | $646.1M | ||
| Q3 25 | $607.3M | $647.9M | ||
| Q2 25 | $601.3M | $695.9M | ||
| Q1 25 | $596.3M | $734.6M | ||
| Q4 24 | $595.4M | $851.9M | ||
| Q3 24 | $589.1M | $929.0M | ||
| Q2 24 | $585.8M | $1.0B | ||
| Q1 24 | $574.4M | $1.1B |
总资产FWRGSVC
| Q4 25 | $1.7B | $6.5B | ||
| Q3 25 | $1.7B | $7.0B | ||
| Q2 25 | $1.7B | $6.9B | ||
| Q1 25 | $1.5B | $7.0B | ||
| Q4 24 | $1.5B | $7.1B | ||
| Q3 24 | $1.5B | $7.1B | ||
| Q2 24 | $1.4B | $7.1B | ||
| Q1 24 | $1.3B | $7.2B |
负债/权益比FWRGSVC
| Q4 25 | 0.43× | 8.52× | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 0.42× | — | ||
| Q1 25 | 0.32× | — | ||
| Q4 24 | 0.32× | 6.85× | ||
| 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 | $-18.5M |
| 自由现金流经营现金流 - 资本支出 | $-18.3M | $-95.2M |
| 自由现金流率自由现金流/营收 | -5.8% | -32.1% |
| 资本支出强度资本支出/营收 | 11.6% | 25.9% |
| 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 | $-107.0M |
8季度趋势，按日历期对齐
经营现金流FWRGSVC
| Q4 25 | $18.5M | $-18.5M | ||
| Q3 25 | $47.9M | $98.1M | ||
| Q2 25 | $39.4M | $-7.0K | ||
| Q1 25 | $20.1M | $38.2M | ||
| Q4 24 | $22.9M | $-9.7M | ||
| Q3 24 | $35.9M | $106.2M | ||
| Q2 24 | $31.9M | $43.8M | ||
| Q1 24 | $25.0M | $-926.0K |
自由现金流FWRGSVC
| Q4 25 | $-18.3M | $-95.2M | ||
| Q3 25 | $5.5M | $57.9M | ||
| Q2 25 | $-1.7M | $-46.6M | ||
| Q1 25 | $-16.4M | $-23.2M | ||
| Q4 24 | $-17.7M | $-88.9M | ||
| Q3 24 | $6.8M | $24.1M | ||
| Q2 24 | $2.3M | $-22.3M | ||
| Q1 24 | $-3.6M | $-77.2M |
自由现金流率FWRGSVC
| Q4 25 | -5.8% | -32.1% | ||
| Q3 25 | 1.7% | 15.3% | ||
| Q2 25 | -0.5% | -11.5% | ||
| Q1 25 | -5.8% | -6.9% | ||
| Q4 24 | -6.7% | -24.9% | ||
| Q3 24 | 2.7% | 6.2% | ||
| Q2 24 | 0.9% | -5.4% | ||
| Q1 24 | -1.5% | -23.0% |
资本支出强度FWRGSVC
| Q4 25 | 11.6% | 25.9% | ||
| Q3 25 | 13.4% | 10.6% | ||
| Q2 25 | 13.4% | 11.5% | ||
| Q1 25 | 13.0% | 18.3% | ||
| Q4 24 | 15.4% | 22.2% | ||
| Q3 24 | 11.6% | 21.0% | ||
| Q2 24 | 11.5% | 16.0% | ||
| Q1 24 | 11.8% | 22.7% |
现金转化率FWRGSVC
| Q4 25 | — | — | ||
| Q3 25 | 16.01× | — | ||
| Q2 25 | 18.72× | — | ||
| 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% |
SVC
暂无分部数据
