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First Watch Restaurant Group, Inc.（FWRG）与VIRTUS INVESTMENT PARTNERS, INC.（VRTS）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VIRTUS INVESTMENT PARTNERS, INC.的1.6倍（$316.4M vs $199.5M），First Watch Restaurant Group, Inc.同比增速更快（20.2% vs -4.1%），过去两年First Watch Restaurant Group, Inc.的营收复合增速更高（14.2% vs -5.7%）
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。
Virtus Investment Partners是一家美国多管理人资产管理企业，旗下汇集多家具备独立投资流程与自有品牌的关联投资管理人，同时也提供非关联子投资顾问服务，为客户提供多元化的资产管理解决方案。
FWRG vs VRTS — 直观对比
营收规模更大
FWRG
是对方的1.6倍
$199.5M
营收增速更快
FWRG
高出24.2%
-4.1%
两年增速更快
FWRG
近两年复合增速
-5.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $316.4M | $199.5M |
| 净利润 | — | $7.1M |
| 毛利率 | — | — |
| 营业利润率 | 2.9% | 7.7% |
| 净利率 | — | 3.6% |
| 营收同比 | 20.2% | -4.1% |
| 净利润同比 | — | -78.1% |
| 每股收益（稀释后） | $0.24 | $1.05 |
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FWRGVRTS
| Q1 26 | — | $199.5M | ||
| Q4 25 | $316.4M | $208.0M | ||
| Q3 25 | $316.0M | $216.4M | ||
| Q2 25 | $307.9M | $210.5M | ||
| Q1 25 | $282.2M | $217.9M | ||
| Q4 24 | $263.3M | $233.5M | ||
| Q3 24 | $251.6M | $227.0M | ||
| Q2 24 | $258.6M | $224.4M |
净利润FWRGVRTS
| Q1 26 | — | $7.1M | ||
| Q4 25 | — | $33.9M | ||
| Q3 25 | $3.0M | $31.3M | ||
| Q2 25 | $2.1M | $42.7M | ||
| Q1 25 | $-829.0K | $28.1M | ||
| Q4 24 | — | $39.5M | ||
| Q3 24 | $2.1M | $49.1M | ||
| Q2 24 | $8.9M | $26.0M |
营业利润率FWRGVRTS
| Q1 26 | — | 7.7% | ||
| Q4 25 | 2.9% | 19.1% | ||
| Q3 25 | 3.2% | 21.7% | ||
| Q2 25 | 2.4% | 21.5% | ||
| Q1 25 | 0.4% | 16.8% | ||
| Q4 24 | 1.5% | 21.7% | ||
| Q3 24 | 2.5% | 24.3% | ||
| Q2 24 | 6.4% | 19.7% |
净利率FWRGVRTS
| Q1 26 | — | 3.6% | ||
| Q4 25 | — | 16.3% | ||
| Q3 25 | 0.9% | 14.5% | ||
| Q2 25 | 0.7% | 20.3% | ||
| Q1 25 | -0.3% | 12.9% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | 0.8% | 21.6% | ||
| Q2 24 | 3.4% | 11.6% |
每股收益（稀释后）FWRGVRTS
| Q1 26 | — | $1.05 | ||
| Q4 25 | $0.24 | $5.15 | ||
| Q3 25 | $0.05 | $4.65 | ||
| Q2 25 | $0.03 | $6.12 | ||
| Q1 25 | $-0.01 | $4.05 | ||
| Q4 24 | $0.01 | $4.65 | ||
| Q3 24 | $0.03 | $5.71 | ||
| Q2 24 | $0.14 | $2.43 |
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 | $136.6M |
| 总债务越低越好 | $269.1M | — |
| 股东权益账面价值 | $626.3M | $93.6B |
| 总资产 | $1.7B | — |
| 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FWRGVRTS
| Q1 26 | — | $136.6M | ||
| Q4 25 | $21.2M | — | ||
| Q3 25 | $20.7M | — | ||
| Q2 25 | $19.2M | — | ||
| Q1 25 | $18.6M | — | ||
| Q4 24 | $33.3M | — | ||
| Q3 24 | $51.1M | — | ||
| Q2 24 | $45.1M | — |
总债务FWRGVRTS
| Q1 26 | — | — | ||
| Q4 25 | $269.1M | $390.0M | ||
| Q3 25 | $251.0M | $390.6M | ||
| Q2 25 | $250.0M | $231.3M | ||
| Q1 25 | $191.5M | $231.7M | ||
| Q4 24 | $189.0M | $232.1M | ||
| Q3 24 | $189.7M | $237.5M | ||
| Q2 24 | $192.1M | $247.6M |
股东权益FWRGVRTS
| Q1 26 | — | $93.6B | ||
| Q4 25 | $626.3M | $934.0M | ||
| Q3 25 | $607.3M | $918.7M | ||
| Q2 25 | $601.3M | $896.4M | ||
| Q1 25 | $596.3M | $893.7M | ||
| Q4 24 | $595.4M | $897.5M | ||
| Q3 24 | $589.1M | $889.0M | ||
| Q2 24 | $585.8M | $868.7M |
总资产FWRGVRTS
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $4.3B | ||
| Q3 25 | $1.7B | $3.9B | ||
| Q2 25 | $1.7B | $3.7B | ||
| Q1 25 | $1.5B | $3.7B | ||
| Q4 24 | $1.5B | $4.0B | ||
| Q3 24 | $1.5B | $3.6B | ||
| Q2 24 | $1.4B | $3.6B |
负债/权益比FWRGVRTS
| Q1 26 | — | — | ||
| Q4 25 | 0.43× | 0.42× | ||
| Q3 25 | 0.41× | 0.43× | ||
| Q2 25 | 0.42× | 0.26× | ||
| Q1 25 | 0.32× | 0.26× | ||
| Q4 24 | 0.32× | 0.26× | ||
| Q3 24 | 0.32× | 0.27× | ||
| Q2 24 | 0.33× | 0.29× |
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 | — |
| 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FWRGVRTS
| Q1 26 | — | — | ||
| Q4 25 | $18.5M | $-67.2M | ||
| Q3 25 | $47.9M | $108.3M | ||
| Q2 25 | $39.4M | $75.8M | ||
| Q1 25 | $20.1M | $-3.8M | ||
| Q4 24 | $22.9M | $1.8M | ||
| Q3 24 | $35.9M | $69.1M | ||
| Q2 24 | $31.9M | $70.0M |
自由现金流FWRGVRTS
| Q1 26 | — | — | ||
| Q4 25 | $-18.3M | $-74.1M | ||
| Q3 25 | $5.5M | $106.9M | ||
| Q2 25 | $-1.7M | $74.2M | ||
| Q1 25 | $-16.4M | $-6.8M | ||
| Q4 24 | $-17.7M | $-3.8M | ||
| Q3 24 | $6.8M | $68.7M | ||
| Q2 24 | $2.3M | $68.6M |
自由现金流率FWRGVRTS
| Q1 26 | — | — | ||
| Q4 25 | -5.8% | -35.6% | ||
| Q3 25 | 1.7% | 49.4% | ||
| Q2 25 | -0.5% | 35.2% | ||
| Q1 25 | -5.8% | -3.1% | ||
| Q4 24 | -6.7% | -1.6% | ||
| Q3 24 | 2.7% | 30.3% | ||
| Q2 24 | 0.9% | 30.6% |
资本支出强度FWRGVRTS
| Q1 26 | — | — | ||
| Q4 25 | 11.6% | 3.3% | ||
| Q3 25 | 13.4% | 0.7% | ||
| Q2 25 | 13.4% | 0.7% | ||
| Q1 25 | 13.0% | 1.4% | ||
| Q4 24 | 15.4% | 2.4% | ||
| Q3 24 | 11.6% | 0.2% | ||
| Q2 24 | 11.5% | 0.6% |
现金转化率FWRGVRTS
| Q1 26 | — | — | ||
| Q4 25 | — | -1.99× | ||
| Q3 25 | 16.01× | 3.45× | ||
| Q2 25 | 18.72× | 1.77× | ||
| Q1 25 | — | -0.13× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | 16.98× | 1.41× | ||
| Q2 24 | 3.59× | 2.69× |
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% |
VRTS
| Investment management fees | $169.1M | 85% |
| Administration and shareholder service fees | $17.3M | 9% |
| Distribution and service fees | $11.6M | 6% |
