vs
null（SWIM）与Wingstop Inc.（WING）财务数据对比。点击上方公司名可切换其他公司
Wingstop Inc.的季度营收约是null的1.8倍（$183.7M vs $100.0M），Wingstop Inc.净利率更高（16.3% vs -7.0%，领先23.3%），null同比增速更快（14.5% vs 7.4%），过去两年Wingstop Inc.的营收复合增速更高（8.6% vs -4.9%）
该企业是一家源自美国的跨国律师事务所，1934年创立于加利福尼亚州洛杉矶，在诉讼业务、公司法务以及监管合规法律领域拥有深厚的行业积累与知名度，是全球颇具影响力的综合性律所之一。
Wingstop Inc.是美国知名跨国快餐连锁品牌，核心产品为布法罗鸡翅，旗下门店均采用20世纪30至40年代喷气时代前的航空主题装饰风格，目前业务已覆盖全球多个国家和地区。
SWIM vs WING — 直观对比
营收规模更大
WING
是对方的1.8倍
$100.0M
营收增速更快
SWIM
高出7.1%
7.4%
净利率更高
WING
高出23.3%
-7.0%
两年增速更快
WING
近两年复合增速
-4.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $100.0M | $183.7M |
| 净利润 | $-7.0M | $29.9M |
| 毛利率 | 28.0% | 86.5% |
| 营业利润率 | -10.7% | 27.4% |
| 净利率 | -7.0% | 16.3% |
| 营收同比 | 14.5% | 7.4% |
| 净利润同比 | 76.0% | — |
| 每股收益（稀释后） | $-0.06 | $1.08 |
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SWIMWING
| Q1 26 | — | $183.7M | ||
| Q4 25 | $100.0M | $175.7M | ||
| Q3 25 | $161.9M | $175.7M | ||
| Q2 25 | $172.6M | $174.3M | ||
| Q1 25 | $111.4M | $171.1M | ||
| Q4 24 | $87.3M | $161.8M | ||
| Q3 24 | $150.5M | $162.5M | ||
| Q2 24 | $160.1M | $155.7M |
净利润SWIMWING
| Q1 26 | — | $29.9M | ||
| Q4 25 | $-7.0M | $26.8M | ||
| Q3 25 | $8.1M | $28.5M | ||
| Q2 25 | $16.0M | $26.8M | ||
| Q1 25 | $-6.0M | $92.3M | ||
| Q4 24 | $-29.2M | $26.8M | ||
| Q3 24 | $5.9M | $25.7M | ||
| Q2 24 | $13.3M | $27.5M |
毛利率SWIMWING
| Q1 26 | — | 86.5% | ||
| Q4 25 | 28.0% | — | ||
| Q3 25 | 35.4% | — | ||
| Q2 25 | 37.1% | — | ||
| Q1 25 | 29.5% | — | ||
| Q4 24 | 24.6% | 85.6% | ||
| Q3 24 | 32.4% | 85.0% | ||
| Q2 24 | 33.1% | 85.4% |
营业利润率SWIMWING
| Q1 26 | — | 27.4% | ||
| Q4 25 | -10.7% | 26.7% | ||
| Q3 25 | 13.3% | 27.9% | ||
| Q2 25 | 14.3% | 25.9% | ||
| Q1 25 | -4.4% | 22.4% | ||
| Q4 24 | -14.9% | 25.9% | ||
| Q3 24 | 8.9% | 24.5% | ||
| Q2 24 | 12.5% | 26.5% |
净利率SWIMWING
| Q1 26 | — | 16.3% | ||
| Q4 25 | -7.0% | 15.2% | ||
| Q3 25 | 5.0% | 16.2% | ||
| Q2 25 | 9.3% | 15.4% | ||
| Q1 25 | -5.4% | 53.9% | ||
| Q4 24 | -33.4% | 16.5% | ||
| Q3 24 | 3.9% | 15.8% | ||
| Q2 24 | 8.3% | 17.7% |
每股收益（稀释后）SWIMWING
| Q1 26 | — | $1.08 | ||
| Q4 25 | $-0.06 | $0.99 | ||
| Q3 25 | $0.07 | $1.02 | ||
| Q2 25 | $0.13 | $0.96 | ||
| Q1 25 | $-0.05 | $3.24 | ||
| Q4 24 | $-0.24 | $0.91 | ||
| Q3 24 | $0.05 | $0.88 | ||
| Q2 24 | $0.11 | $0.93 |
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 | — | $128.8M |
| 总债务越低越好 | $279.8M | — |
| 股东权益账面价值 | $405.9M | — |
| 总资产 | $823.2M | $648.9M |
| 负债/权益比越低杠杆越低 | 0.69× | — |
8季度趋势，按日历期对齐
现金及短期投资SWIMWING
| Q1 26 | — | $128.8M | ||
| Q4 25 | — | $196.6M | ||
| Q3 25 | — | $237.6M | ||
| Q2 25 | — | $227.9M | ||
| Q1 25 | — | $251.4M | ||
| Q4 24 | — | $315.9M | ||
| Q3 24 | — | $84.0M | ||
| Q2 24 | — | $96.7M |
总债务SWIMWING
| Q1 26 | — | — | ||
| Q4 25 | $279.8M | $1.2B | ||
| Q3 25 | $281.1M | — | ||
| Q2 25 | $281.5M | — | ||
| Q1 25 | $306.9M | — | ||
| Q4 24 | $281.5M | $1.2B | ||
| Q3 24 | $282.8M | — | ||
| Q2 24 | $282.4M | — |
股东权益SWIMWING
| Q1 26 | — | — | ||
| Q4 25 | $405.9M | $-736.8M | ||
| Q3 25 | $408.4M | $-702.6M | ||
| Q2 25 | $398.4M | $-686.0M | ||
| Q1 25 | $381.1M | $-715.0M | ||
| Q4 24 | $387.2M | $-675.6M | ||
| Q3 24 | $416.6M | $-447.5M | ||
| Q2 24 | $408.1M | $-437.5M |
总资产SWIMWING
| Q1 26 | — | $648.9M | ||
| Q4 25 | $823.2M | $693.4M | ||
| Q3 25 | $844.4M | $721.0M | ||
| Q2 25 | $822.1M | $708.3M | ||
| Q1 25 | $824.6M | $696.8M | ||
| Q4 24 | $794.2M | $716.2M | ||
| Q3 24 | $853.4M | $484.8M | ||
| Q2 24 | $830.0M | $451.8M |
负债/权益比SWIMWING
| Q1 26 | — | — | ||
| Q4 25 | 0.69× | — | ||
| Q3 25 | 0.69× | — | ||
| Q2 25 | 0.71× | — | ||
| Q1 25 | 0.81× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 0.69× | — |
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 | $23.3M | — |
| 自由现金流经营现金流 - 资本支出 | $14.1M | — |
| 自由现金流率自由现金流/营收 | 14.1% | — |
| 资本支出强度资本支出/营收 | 9.2% | — |
| 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 | $38.0M | — |
8季度趋势，按日历期对齐
经营现金流SWIMWING
| Q1 26 | — | — | ||
| Q4 25 | $23.3M | $57.3M | ||
| Q3 25 | $51.0M | $63.9M | ||
| Q2 25 | $36.0M | $6.6M | ||
| Q1 25 | $-46.9M | $25.3M | ||
| Q4 24 | $6.2M | $7.7M | ||
| Q3 24 | $37.2M | $69.0M | ||
| Q2 24 | $52.4M | $36.2M |
自由现金流SWIMWING
| Q1 26 | — | — | ||
| Q4 25 | $14.1M | $34.5M | ||
| Q3 25 | $45.2M | $61.7M | ||
| Q2 25 | $29.1M | $-7.8M | ||
| Q1 25 | $-50.3M | $17.3M | ||
| Q4 24 | $-98.0K | $-8.6M | ||
| Q3 24 | $33.2M | $54.9M | ||
| Q2 24 | $47.9M | $25.9M |
自由现金流率SWIMWING
| Q1 26 | — | — | ||
| Q4 25 | 14.1% | 19.6% | ||
| Q3 25 | 27.9% | 35.1% | ||
| Q2 25 | 16.8% | -4.5% | ||
| Q1 25 | -45.2% | 10.1% | ||
| Q4 24 | -0.1% | -5.3% | ||
| Q3 24 | 22.1% | 33.8% | ||
| Q2 24 | 29.9% | 16.6% |
资本支出强度SWIMWING
| Q1 26 | — | — | ||
| Q4 25 | 9.2% | 13.0% | ||
| Q3 25 | 3.6% | 1.3% | ||
| Q2 25 | 4.0% | 8.2% | ||
| Q1 25 | 3.1% | 4.7% | ||
| Q4 24 | 7.2% | 10.1% | ||
| Q3 24 | 2.7% | 8.7% | ||
| Q2 24 | 2.8% | 6.6% |
现金转化率SWIMWING
| Q1 26 | — | — | ||
| Q4 25 | — | 2.14× | ||
| Q3 25 | 6.29× | 2.24× | ||
| Q2 25 | 2.25× | 0.25× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | 6.32× | 2.68× | ||
| Q2 24 | 3.95× | 1.32× |
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
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
WING
| Royalty revenue, franchise fees and other | $87.5M | 48% |
| Advertising fees | $63.3M | 34% |
| Company-owned restaurant sales | $33.0M | 18% |
