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First Watch Restaurant Group, Inc.（FWRG）与Tecnoglass Inc.（TGLS）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Tecnoglass Inc.的1.3倍（$316.4M vs $245.3M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs 2.4%），Tecnoglass Inc.自由现金流更多（$11.4M vs $-18.3M），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs 12.8%）
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。
Tecnoglass Inc.是一家领先的建筑玻璃、铝制门窗及相关建材生产商，主要服务北美及拉美地区的住宅和商业建筑领域，为新建及翻新项目提供定制化、高能效的建筑解决方案。
FWRG vs TGLS — 直观对比
营收规模更大
FWRG
是对方的1.3倍
$245.3M
营收增速更快
FWRG
高出17.8%
2.4%
自由现金流更多
TGLS
多$29.8M
$-18.3M
两年增速更快
FWRG
近两年复合增速
12.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $245.3M |
| 净利润 | — | $26.1M |
| 毛利率 | — | 40.0% |
| 营业利润率 | 2.9% | 18.3% |
| 净利率 | — | 10.6% |
| 营收同比 | 20.2% | 2.4% |
| 净利润同比 | — | -44.5% |
| 每股收益（稀释后） | $0.24 | $0.57 |
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FWRGTGLS
| Q4 25 | $316.4M | $245.3M | ||
| Q3 25 | $316.0M | $260.5M | ||
| Q2 25 | $307.9M | $255.5M | ||
| Q1 25 | $282.2M | $222.3M | ||
| Q4 24 | $263.3M | $239.6M | ||
| Q3 24 | $251.6M | $238.3M | ||
| Q2 24 | $258.6M | $219.7M | ||
| Q1 24 | $242.4M | $192.6M |
净利润FWRGTGLS
| Q4 25 | — | $26.1M | ||
| Q3 25 | $3.0M | $47.2M | ||
| Q2 25 | $2.1M | $44.1M | ||
| Q1 25 | $-829.0K | $42.2M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | $2.1M | $49.5M | ||
| Q2 24 | $8.9M | $35.0M | ||
| Q1 24 | $7.2M | $29.7M |
毛利率FWRGTGLS
| Q4 25 | — | 40.0% | ||
| Q3 25 | — | 42.7% | ||
| Q2 25 | — | 44.7% | ||
| Q1 25 | — | 43.9% | ||
| Q4 24 | — | 44.5% | ||
| Q3 24 | — | 45.8% | ||
| Q2 24 | — | 40.8% | ||
| Q1 24 | — | 38.8% |
营业利润率FWRGTGLS
| Q4 25 | 2.9% | 18.3% | ||
| Q3 25 | 3.2% | 25.1% | ||
| Q2 25 | 2.4% | 24.0% | ||
| Q1 25 | 0.4% | 26.7% | ||
| Q4 24 | 1.5% | 28.0% | ||
| Q3 24 | 2.5% | 28.4% | ||
| Q2 24 | 6.4% | 23.3% | ||
| Q1 24 | 5.1% | 21.3% |
净利率FWRGTGLS
| Q4 25 | — | 10.6% | ||
| Q3 25 | 0.9% | 18.1% | ||
| Q2 25 | 0.7% | 17.3% | ||
| Q1 25 | -0.3% | 19.0% | ||
| Q4 24 | — | 19.6% | ||
| Q3 24 | 0.8% | 20.8% | ||
| Q2 24 | 3.4% | 15.9% | ||
| Q1 24 | 3.0% | 15.4% |
每股收益（稀释后）FWRGTGLS
| Q4 25 | $0.24 | $0.57 | ||
| Q3 25 | $0.05 | $1.01 | ||
| Q2 25 | $0.03 | $0.94 | ||
| Q1 25 | $-0.01 | $0.90 | ||
| Q4 24 | $0.01 | $1.00 | ||
| Q3 24 | $0.03 | $1.05 | ||
| Q2 24 | $0.14 | $0.75 | ||
| Q1 24 | $0.12 | $0.63 |
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 | $104.1M |
| 总债务越低越好 | $269.1M | $174.4M |
| 股东权益账面价值 | $626.3M | $713.1M |
| 总资产 | $1.7B | $1.3B |
| 负债/权益比越低杠杆越低 | 0.43× | 0.24× |
8季度趋势，按日历期对齐
现金及短期投资FWRGTGLS
| Q4 25 | $21.2M | $104.1M | ||
| Q3 25 | $20.7M | $127.1M | ||
| Q2 25 | $19.2M | $140.9M | ||
| Q1 25 | $18.6M | $160.2M | ||
| Q4 24 | $33.3M | $137.5M | ||
| Q3 24 | $51.1M | $124.8M | ||
| Q2 24 | $45.1M | $129.5M | ||
| Q1 24 | $43.2M | $138.8M |
总债务FWRGTGLS
| Q4 25 | $269.1M | $174.4M | ||
| Q3 25 | $251.0M | $114.7M | ||
| Q2 25 | $250.0M | $110.6M | ||
| Q1 25 | $191.5M | $110.6M | ||
| Q4 24 | $189.0M | $111.1M | ||
| Q3 24 | $189.7M | $126.8M | ||
| Q2 24 | $192.1M | $144.7M | ||
| Q1 24 | $122.7M | $160.9M |
股东权益FWRGTGLS
| Q4 25 | $626.3M | $713.1M | ||
| Q3 25 | $607.3M | $764.0M | ||
| Q2 25 | $601.3M | $736.0M | ||
| Q1 25 | $596.3M | $685.1M | ||
| Q4 24 | $595.4M | $631.2M | ||
| Q3 24 | $589.1M | $613.3M | ||
| Q2 24 | $585.8M | $574.8M | ||
| Q1 24 | $574.4M | $573.6M |
总资产FWRGTGLS
| Q4 25 | $1.7B | $1.3B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.7B | $1.2B | ||
| Q1 25 | $1.5B | $1.1B | ||
| Q4 24 | $1.5B | $1.0B | ||
| Q3 24 | $1.5B | $996.3M | ||
| Q2 24 | $1.4B | $942.5M | ||
| Q1 24 | $1.3B | $981.6M |
负债/权益比FWRGTGLS
| Q4 25 | 0.43× | 0.24× | ||
| Q3 25 | 0.41× | 0.15× | ||
| Q2 25 | 0.42× | 0.15× | ||
| Q1 25 | 0.32× | 0.16× | ||
| Q4 24 | 0.32× | 0.18× | ||
| Q3 24 | 0.32× | 0.21× | ||
| Q2 24 | 0.33× | 0.25× | ||
| Q1 24 | 0.21× | 0.28× |
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 | $31.0M |
| 自由现金流经营现金流 - 资本支出 | $-18.3M | $11.4M |
| 自由现金流率自由现金流/营收 | -5.8% | 4.7% |
| 资本支出强度资本支出/营收 | 11.6% | 8.0% |
| 现金转化率经营现金流/净利润 | — | 1.19× |
| 过去12个月自由现金流最近4个季度 | $-31.0M | $34.5M |
8季度趋势，按日历期对齐
经营现金流FWRGTGLS
| Q4 25 | $18.5M | $31.0M | ||
| Q3 25 | $47.9M | $40.0M | ||
| Q2 25 | $39.4M | $17.9M | ||
| Q1 25 | $20.1M | $46.9M | ||
| Q4 24 | $22.9M | $61.1M | ||
| Q3 24 | $35.9M | $41.5M | ||
| Q2 24 | $31.9M | $34.5M | ||
| Q1 24 | $25.0M | $33.4M |
自由现金流FWRGTGLS
| Q4 25 | $-18.3M | $11.4M | ||
| Q3 25 | $5.5M | $21.2M | ||
| Q2 25 | $-1.7M | $-14.7M | ||
| Q1 25 | $-16.4M | $16.5M | ||
| Q4 24 | $-17.7M | $35.4M | ||
| Q3 24 | $6.8M | $17.8M | ||
| Q2 24 | $2.3M | $14.2M | ||
| Q1 24 | $-3.6M | $23.6M |
自由现金流率FWRGTGLS
| Q4 25 | -5.8% | 4.7% | ||
| Q3 25 | 1.7% | 8.2% | ||
| Q2 25 | -0.5% | -5.7% | ||
| Q1 25 | -5.8% | 7.4% | ||
| Q4 24 | -6.7% | 14.8% | ||
| Q3 24 | 2.7% | 7.5% | ||
| Q2 24 | 0.9% | 6.5% | ||
| Q1 24 | -1.5% | 12.2% |
资本支出强度FWRGTGLS
| Q4 25 | 11.6% | 8.0% | ||
| Q3 25 | 13.4% | 7.2% | ||
| Q2 25 | 13.4% | 12.7% | ||
| Q1 25 | 13.0% | 13.7% | ||
| Q4 24 | 15.4% | 10.7% | ||
| Q3 24 | 11.6% | 9.9% | ||
| Q2 24 | 11.5% | 9.2% | ||
| Q1 24 | 11.8% | 5.1% |
现金转化率FWRGTGLS
| Q4 25 | — | 1.19× | ||
| Q3 25 | 16.01× | 0.85× | ||
| Q2 25 | 18.72× | 0.41× | ||
| Q1 25 | — | 1.11× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | 16.98× | 0.84× | ||
| Q2 24 | 3.59× | 0.98× | ||
| Q1 24 | 3.46× | 1.13× |
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% |
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
