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First Watch Restaurant Group, Inc.（FWRG）与Wheels Up Experience Inc.（UP）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Wheels Up Experience Inc.的1.7倍（$316.4M vs $183.8M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs -10.2%），First Watch Restaurant Group, Inc.自由现金流更多（$-18.3M vs $-58.3M），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs -3.4%）
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。
Wheels Up是美国领先的按需私人航空服务提供商，也是全球规模最大的私人航空企业之一。公司由肯尼·迪希特创立于2013年，采用会员制按需服务的商业模式，会员可通过移动应用程序，从公司自有机队及第三方运营商处预订私人飞机出行。
FWRG vs UP — 直观对比
营收规模更大
FWRG
是对方的1.7倍
$183.8M
营收增速更快
FWRG
高出30.4%
-10.2%
自由现金流更多
FWRG
多$39.9M
$-58.3M
两年增速更快
FWRG
近两年复合增速
-3.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $183.8M |
| 净利润 | — | $-28.9M |
| 毛利率 | — | 14.3% |
| 营业利润率 | 2.9% | -0.9% |
| 净利率 | — | -15.7% |
| 营收同比 | 20.2% | -10.2% |
| 净利润同比 | — | 67.0% |
| 每股收益（稀释后） | $0.24 | $-0.04 |
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FWRGUP
| Q4 25 | $316.4M | $183.8M | ||
| Q3 25 | $316.0M | $185.5M | ||
| Q2 25 | $307.9M | $189.6M | ||
| Q1 25 | $282.2M | $177.5M | ||
| Q4 24 | $263.3M | $204.8M | ||
| Q3 24 | $251.6M | $193.9M | ||
| Q2 24 | $258.6M | $196.3M | ||
| Q1 24 | $242.4M | $197.1M |
净利润FWRGUP
| Q4 25 | — | $-28.9M | ||
| Q3 25 | $3.0M | $-83.7M | ||
| Q2 25 | $2.1M | $-82.3M | ||
| Q1 25 | $-829.0K | $-99.3M | ||
| Q4 24 | — | $-87.5M | ||
| Q3 24 | $2.1M | $-57.7M | ||
| Q2 24 | $8.9M | $-97.0M | ||
| Q1 24 | $7.2M | $-97.4M |
毛利率FWRGUP
| Q4 25 | — | 14.3% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | — | 8.3% | ||
| Q1 25 | — | 10.8% | ||
| Q4 24 | — | 13.9% | ||
| Q3 24 | — | 13.9% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | -0.6% |
营业利润率FWRGUP
| Q4 25 | 2.9% | -0.9% | ||
| Q3 25 | 3.2% | -33.1% | ||
| Q2 25 | 2.4% | -31.4% | ||
| Q1 25 | 0.4% | -45.5% | ||
| Q4 24 | 1.5% | -26.0% | ||
| Q3 24 | 2.5% | -21.6% | ||
| Q2 24 | 6.4% | -40.3% | ||
| Q1 24 | 5.1% | -42.9% |
净利率FWRGUP
| Q4 25 | — | -15.7% | ||
| Q3 25 | 0.9% | -45.1% | ||
| Q2 25 | 0.7% | -43.4% | ||
| Q1 25 | -0.3% | -55.9% | ||
| Q4 24 | — | -42.7% | ||
| Q3 24 | 0.8% | -29.8% | ||
| Q2 24 | 3.4% | -49.4% | ||
| Q1 24 | 3.0% | -49.4% |
每股收益（稀释后）FWRGUP
| Q4 25 | $0.24 | $-0.04 | ||
| Q3 25 | $0.05 | $-0.12 | ||
| Q2 25 | $0.03 | $-0.12 | ||
| Q1 25 | $-0.01 | $-0.14 | ||
| Q4 24 | $0.01 | $-0.13 | ||
| Q3 24 | $0.03 | $-0.08 | ||
| Q2 24 | $0.14 | $-0.14 | ||
| Q1 24 | $0.12 | $-0.14 |
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 | $133.9M |
| 总债务越低越好 | $269.1M | $671.3M |
| 股东权益账面价值 | $626.3M | $-392.1M |
| 总资产 | $1.7B | $968.8M |
| 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FWRGUP
| Q4 25 | $21.2M | $133.9M | ||
| Q3 25 | $20.7M | $125.3M | ||
| Q2 25 | $19.2M | $107.0M | ||
| Q1 25 | $18.6M | $171.8M | ||
| Q4 24 | $33.3M | $216.4M | ||
| Q3 24 | $51.1M | $115.9M | ||
| Q2 24 | $45.1M | $141.5M | ||
| Q1 24 | $43.2M | $180.9M |
总债务FWRGUP
| Q4 25 | $269.1M | $671.3M | ||
| Q3 25 | $251.0M | $766.5M | ||
| Q2 25 | $250.0M | $770.5M | ||
| Q1 25 | $191.5M | $765.8M | ||
| Q4 24 | $189.0M | $761.3M | ||
| Q3 24 | $189.7M | $596.9M | ||
| Q2 24 | $192.1M | $597.4M | ||
| Q1 24 | $122.7M | $603.2M |
股东权益FWRGUP
| Q4 25 | $626.3M | $-392.1M | ||
| Q3 25 | $607.3M | $-374.5M | ||
| Q2 25 | $601.3M | $-347.8M | ||
| Q1 25 | $596.3M | $-288.1M | ||
| Q4 24 | $595.4M | $-202.1M | ||
| Q3 24 | $589.1M | $-117.7M | ||
| Q2 24 | $585.8M | $-72.2M | ||
| Q1 24 | $574.4M | $936.0K |
总资产FWRGUP
| Q4 25 | $1.7B | $968.8M | ||
| Q3 25 | $1.7B | $973.0M | ||
| Q2 25 | $1.7B | $1.0B | ||
| Q1 25 | $1.5B | $1.1B | ||
| Q4 24 | $1.5B | $1.2B | ||
| Q3 24 | $1.5B | $1.0B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.3B | $1.2B |
负债/权益比FWRGUP
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 0.42× | — | ||
| Q1 25 | 0.32× | — | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | 0.32× | — | ||
| Q2 24 | 0.33× | — | ||
| Q1 24 | 0.21× | 644.43× |
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 | $-18.4M |
| 自由现金流经营现金流 - 资本支出 | $-18.3M | $-58.3M |
| 自由现金流率自由现金流/营收 | -5.8% | -31.7% |
| 资本支出强度资本支出/营收 | 11.6% | 21.7% |
| 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 | $-259.9M |
8季度趋势，按日历期对齐
经营现金流FWRGUP
| Q4 25 | $18.5M | $-18.4M | ||
| Q3 25 | $47.9M | $-37.1M | ||
| Q2 25 | $39.4M | $-62.9M | ||
| Q1 25 | $20.1M | $-47.9M | ||
| Q4 24 | $22.9M | $37.9M | ||
| Q3 24 | $35.9M | $-16.9M | ||
| Q2 24 | $31.9M | $-25.2M | ||
| Q1 24 | $25.0M | $-73.8M |
自由现金流FWRGUP
| Q4 25 | $-18.3M | $-58.3M | ||
| Q3 25 | $5.5M | $-60.4M | ||
| Q2 25 | $-1.7M | $-78.6M | ||
| Q1 25 | $-16.4M | $-62.6M | ||
| Q4 24 | $-17.7M | $-70.2M | ||
| Q3 24 | $6.8M | $-21.9M | ||
| Q2 24 | $2.3M | $-30.8M | ||
| Q1 24 | $-3.6M | $-77.8M |
自由现金流率FWRGUP
| Q4 25 | -5.8% | -31.7% | ||
| Q3 25 | 1.7% | -32.6% | ||
| Q2 25 | -0.5% | -41.5% | ||
| Q1 25 | -5.8% | -35.3% | ||
| Q4 24 | -6.7% | -34.3% | ||
| Q3 24 | 2.7% | -11.3% | ||
| Q2 24 | 0.9% | -15.7% | ||
| Q1 24 | -1.5% | -39.5% |
资本支出强度FWRGUP
| Q4 25 | 11.6% | 21.7% | ||
| Q3 25 | 13.4% | 12.5% | ||
| Q2 25 | 13.4% | 8.3% | ||
| Q1 25 | 13.0% | 8.3% | ||
| Q4 24 | 15.4% | 52.8% | ||
| Q3 24 | 11.6% | 2.6% | ||
| Q2 24 | 11.5% | 2.9% | ||
| Q1 24 | 11.8% | 2.0% |
现金转化率FWRGUP
| 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% |
UP
暂无分部数据
