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派拓网络（ALTO）与南玻集团（CSGS）财务数据对比。点击上方公司名可切换其他公司
南玻集团的季度营收约是派拓网络的1.4倍（$323.1M vs $232.0M），派拓网络净利率更高（9.4% vs 2.2%，领先7.2%），南玻集团同比增速更快（2.0% vs -1.9%），南玻集团自由现金流更多（$55.8M vs $7.6M），过去两年南玻集团的营收复合增速更高（4.6% vs -1.8%）
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中国南玻集团股份有限公司是中国规模最大的建筑玻璃生产商，业务涵盖浮法玻璃、建筑玻璃、显示玻璃、汽车玻璃、镀膜玻璃、镜子、彩滤玻璃、太阳能玻璃及节能玻璃等各类玻璃产品的研发、生产与销售，产品广泛应用于建筑、消费电子、新能源汽车、光伏等多个领域。
ALTO vs CSGS — 直观对比
营收规模更大
CSGS
是对方的1.4倍
$232.0M
营收增速更快
CSGS
高出3.9%
-1.9%
净利率更高
ALTO
高出7.2%
2.2%
自由现金流更多
CSGS
多$48.2M
$7.6M
两年增速更快
CSGS
近两年复合增速
-1.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $232.0M | $323.1M |
| 净利润 | $21.8M | $7.0M |
| 毛利率 | 6.5% | 50.0% |
| 营业利润率 | 3.2% | 9.0% |
| 净利率 | 9.4% | 2.2% |
| 营收同比 | -1.9% | 2.0% |
| 净利润同比 | 152.3% | -79.7% |
| 每股收益（稀释后） | $0.28 | $0.24 |
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ALTOCSGS
| Q4 25 | $232.0M | $323.1M | ||
| Q3 25 | $241.0M | $303.6M | ||
| Q2 25 | $218.4M | $297.1M | ||
| Q1 25 | $226.5M | $299.5M | ||
| Q4 24 | $236.3M | $316.7M | ||
| Q3 24 | $251.8M | $295.1M | ||
| Q2 24 | $236.5M | $290.3M | ||
| Q1 24 | $240.6M | $295.1M |
净利润ALTOCSGS
| Q4 25 | $21.8M | $7.0M | ||
| Q3 25 | $14.2M | $20.5M | ||
| Q2 25 | $-11.0M | $12.3M | ||
| Q1 25 | $-11.7M | $16.1M | ||
| Q4 24 | $-41.7M | $34.5M | ||
| Q3 24 | $-2.4M | $19.1M | ||
| Q2 24 | $-3.1M | $13.8M | ||
| Q1 24 | $-11.7M | $19.5M |
毛利率ALTOCSGS
| Q4 25 | 6.5% | 50.0% | ||
| Q3 25 | 9.7% | 48.1% | ||
| Q2 25 | -0.9% | 49.5% | ||
| Q1 25 | -0.8% | 48.4% | ||
| Q4 24 | -0.6% | 51.3% | ||
| Q3 24 | 2.4% | 49.4% | ||
| Q2 24 | 3.2% | 47.3% | ||
| Q1 24 | -1.0% | 46.5% |
营业利润率ALTOCSGS
| Q4 25 | 3.2% | 9.0% | ||
| Q3 25 | 7.0% | 10.0% | ||
| Q2 25 | -3.7% | 10.0% | ||
| Q1 25 | -4.0% | 9.8% | ||
| Q4 24 | -16.6% | 13.4% | ||
| Q3 24 | -0.3% | 10.8% | ||
| Q2 24 | -0.6% | 8.8% | ||
| Q1 24 | -4.3% | 10.8% |
净利率ALTOCSGS
| Q4 25 | 9.4% | 2.2% | ||
| Q3 25 | 5.9% | 6.7% | ||
| Q2 25 | -5.0% | 4.1% | ||
| Q1 25 | -5.2% | 5.4% | ||
| Q4 24 | -17.6% | 10.9% | ||
| Q3 24 | -1.0% | 6.5% | ||
| Q2 24 | -1.3% | 4.8% | ||
| Q1 24 | -4.9% | 6.6% |
每股收益（稀释后）ALTOCSGS
| Q4 25 | $0.28 | $0.24 | ||
| Q3 25 | $0.19 | $0.73 | ||
| Q2 25 | $-0.15 | $0.44 | ||
| Q1 25 | $-0.16 | $0.57 | ||
| Q4 24 | $-0.56 | $1.20 | ||
| Q3 24 | $-0.04 | $0.67 | ||
| Q2 24 | $-0.05 | $0.48 | ||
| Q1 24 | $-0.17 | $0.68 |
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 | $23.4M | $180.0M |
| 总债务越低越好 | $84.6M | $539.5M |
| 股东权益账面价值 | $245.2M | $283.7M |
| 总资产 | $388.8M | $1.5B |
| 负债/权益比越低杠杆越低 | 0.34× | 1.90× |
8季度趋势，按日历期对齐
现金及短期投资ALTOCSGS
| Q4 25 | $23.4M | $180.0M | ||
| Q3 25 | $32.5M | $158.4M | ||
| Q2 25 | $29.8M | $145.9M | ||
| Q1 25 | $26.8M | $136.0M | ||
| Q4 24 | $35.5M | $161.8M | ||
| Q3 24 | $33.6M | $118.4M | ||
| Q2 24 | $27.1M | $110.4M | ||
| Q1 24 | $29.3M | $120.8M |
总债务ALTOCSGS
| Q4 25 | $84.6M | $539.5M | ||
| Q3 25 | $106.0M | $538.6M | ||
| Q2 25 | $124.2M | $537.8M | ||
| Q1 25 | $117.0M | $537.6M | ||
| Q4 24 | $99.7M | $538.5M | ||
| Q3 24 | $90.6M | $539.5M | ||
| Q2 24 | $98.6M | $540.5M | ||
| Q1 24 | $92.2M | $541.5M |
股东权益ALTOCSGS
| Q4 25 | $245.2M | $283.7M | ||
| Q3 25 | $222.4M | $289.5M | ||
| Q2 25 | $207.8M | $290.7M | ||
| Q1 25 | $213.9M | $283.1M | ||
| Q4 24 | $225.1M | $282.6M | ||
| Q3 24 | $263.9M | $288.4M | ||
| Q2 24 | $265.8M | $273.3M | ||
| Q1 24 | $268.7M | $269.3M |
总资产ALTOCSGS
| Q4 25 | $388.8M | $1.5B | ||
| Q3 25 | $388.5M | $1.5B | ||
| Q2 25 | $393.1M | $1.4B | ||
| Q1 25 | $402.2M | $1.4B | ||
| Q4 24 | $401.4M | $1.5B | ||
| Q3 24 | $417.4M | $1.4B | ||
| Q2 24 | $432.5M | $1.4B | ||
| Q1 24 | $434.6M | $1.3B |
负债/权益比ALTOCSGS
| Q4 25 | 0.34× | 1.90× | ||
| Q3 25 | 0.48× | 1.86× | ||
| Q2 25 | 0.60× | 1.85× | ||
| Q1 25 | 0.55× | 1.90× | ||
| Q4 24 | 0.44× | 1.91× | ||
| Q3 24 | 0.34× | 1.87× | ||
| Q2 24 | 0.37× | 1.98× | ||
| Q1 24 | 0.34× | 2.01× |
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 | $9.5M | $59.2M |
| 自由现金流经营现金流 - 资本支出 | $7.6M | $55.8M |
| 自由现金流率自由现金流/营收 | 3.3% | 17.3% |
| 资本支出强度资本支出/营收 | 0.8% | 1.1% |
| 现金转化率经营现金流/净利润 | 0.44× | 8.46× |
| 过去12个月自由现金流最近4个季度 | $8.6M | $141.4M |
8季度趋势，按日历期对齐
经营现金流ALTOCSGS
| Q4 25 | $9.5M | $59.2M | ||
| Q3 25 | $22.8M | $47.9M | ||
| Q2 25 | $-848.0K | $37.3M | ||
| Q1 25 | $-18.2M | $11.5M | ||
| Q4 24 | $-9.8M | $82.5M | ||
| Q3 24 | $18.6M | $39.5M | ||
| Q2 24 | $-13.7M | $43.1M | ||
| Q1 24 | $1.4M | $-29.4M |
自由现金流ALTOCSGS
| Q4 25 | $7.6M | $55.8M | ||
| Q3 25 | $21.2M | $43.9M | ||
| Q2 25 | $-1.3M | $34.6M | ||
| Q1 25 | $-18.8M | $7.1M | ||
| Q4 24 | $-11.1M | $76.6M | ||
| Q3 24 | $18.1M | $32.0M | ||
| Q2 24 | $-18.4M | $38.8M | ||
| Q1 24 | $-3.2M | $-34.1M |
自由现金流率ALTOCSGS
| Q4 25 | 3.3% | 17.3% | ||
| Q3 25 | 8.8% | 14.5% | ||
| Q2 25 | -0.6% | 11.6% | ||
| Q1 25 | -8.3% | 2.4% | ||
| Q4 24 | -4.7% | 24.2% | ||
| Q3 24 | 7.2% | 10.8% | ||
| Q2 24 | -7.8% | 13.4% | ||
| Q1 24 | -1.3% | -11.6% |
资本支出强度ALTOCSGS
| Q4 25 | 0.8% | 1.1% | ||
| Q3 25 | 0.7% | 1.3% | ||
| Q2 25 | 0.2% | 0.9% | ||
| Q1 25 | 0.2% | 1.5% | ||
| Q4 24 | 0.5% | 1.9% | ||
| Q3 24 | 0.2% | 2.5% | ||
| Q2 24 | 2.0% | 1.5% | ||
| Q1 24 | 1.9% | 1.6% |
现金转化率ALTOCSGS
| Q4 25 | 0.44× | 8.46× | ||
| Q3 25 | 1.60× | 2.34× | ||
| Q2 25 | — | 3.04× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 2.39× | ||
| Q3 24 | — | 2.07× | ||
| Q2 24 | — | 3.12× | ||
| Q1 24 | — | -1.51× |
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
ALTO
| Pekin Campus Production | $105.1M | 45% |
| Total Marketing And Distribution Sales | $57.9M | 25% |
| Marketing And Distributions | $55.6M | 24% |
| Other | $11.2M | 5% |
| Kodiak Carbonic LLC | $2.1M | 1% |
CSGS
| Software As A Service And Related Solutions | $287.2M | 89% |
| License And Service | $22.6M | 7% |
| Maintenance | $13.3M | 4% |
