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Alphatec Holdings, Inc.（ATEC）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Alphatec Holdings, Inc.的1.5倍（$323.1M vs $212.9M），南玻集团净利率更高（2.2% vs -10.2%，领先12.4%），Alphatec Holdings, Inc.同比增速更快（20.4% vs 2.0%），南玻集团自由现金流更多（$55.8M vs $7.7M），过去两年Alphatec Holdings, Inc.的营收复合增速更高（24.0% vs 4.6%）
Alphatec Holdings是一家全球医疗科技企业，专注于研发、生产及销售脊柱外科手术相关的植入物、手术器械与数字化手术平台，服务骨科及神经外科医疗从业者，核心市场覆盖北美、欧洲及亚太主要区域。
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。
ATEC vs CSGS — 直观对比
营收规模更大
CSGS
是对方的1.5倍
$212.9M
营收增速更快
ATEC
高出18.4%
2.0%
净利率更高
CSGS
高出12.4%
-10.2%
自由现金流更多
CSGS
多$48.1M
$7.7M
两年增速更快
ATEC
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $323.1M |
| 净利润 | $-21.7M | $7.0M |
| 毛利率 | 70.2% | 50.0% |
| 营业利润率 | -4.1% | 9.0% |
| 净利率 | -10.2% | 2.2% |
| 营收同比 | 20.4% | 2.0% |
| 净利润同比 | 34.8% | -79.7% |
| 每股收益（稀释后） | $-0.15 | $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ATECCSGS
| Q4 25 | $212.9M | $323.1M | ||
| Q3 25 | $196.5M | $303.6M | ||
| Q2 25 | $185.5M | $297.1M | ||
| Q1 25 | $169.2M | $299.5M | ||
| Q4 24 | $176.8M | $316.7M | ||
| Q3 24 | $150.7M | $295.1M | ||
| Q2 24 | $145.6M | $290.3M | ||
| Q1 24 | $138.5M | $295.1M |
净利润ATECCSGS
| Q4 25 | $-21.7M | $7.0M | ||
| Q3 25 | $-28.6M | $20.5M | ||
| Q2 25 | $-41.1M | $12.3M | ||
| Q1 25 | $-51.9M | $16.1M | ||
| Q4 24 | $-33.3M | $34.5M | ||
| Q3 24 | $-39.6M | $19.1M | ||
| Q2 24 | $-40.7M | $13.8M | ||
| Q1 24 | $-48.5M | $19.5M |
毛利率ATECCSGS
| Q4 25 | 70.2% | 50.0% | ||
| Q3 25 | 69.9% | 48.1% | ||
| Q2 25 | 69.6% | 49.5% | ||
| Q1 25 | 68.6% | 48.4% | ||
| Q4 24 | 68.8% | 51.3% | ||
| Q3 24 | 68.2% | 49.4% | ||
| Q2 24 | 70.5% | 47.3% | ||
| Q1 24 | 70.3% | 46.5% |
营业利润率ATECCSGS
| Q4 25 | -4.1% | 9.0% | ||
| Q3 25 | -8.1% | 10.0% | ||
| Q2 25 | -7.1% | 10.0% | ||
| Q1 25 | -26.2% | 9.8% | ||
| Q4 24 | -13.5% | 13.4% | ||
| Q3 24 | -22.4% | 10.8% | ||
| Q2 24 | -24.3% | 8.8% | ||
| Q1 24 | -31.3% | 10.8% |
净利率ATECCSGS
| Q4 25 | -10.2% | 2.2% | ||
| Q3 25 | -14.5% | 6.7% | ||
| Q2 25 | -22.2% | 4.1% | ||
| Q1 25 | -30.7% | 5.4% | ||
| Q4 24 | -18.9% | 10.9% | ||
| Q3 24 | -26.3% | 6.5% | ||
| Q2 24 | -27.9% | 4.8% | ||
| Q1 24 | -35.0% | 6.6% |
每股收益（稀释后）ATECCSGS
| Q4 25 | $-0.15 | $0.24 | ||
| Q3 25 | $-0.19 | $0.73 | ||
| Q2 25 | $-0.27 | $0.44 | ||
| Q1 25 | $-0.35 | $0.57 | ||
| Q4 24 | $-0.22 | $1.20 | ||
| Q3 24 | $-0.28 | $0.67 | ||
| Q2 24 | $-0.29 | $0.48 | ||
| Q1 24 | $-0.34 | $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 | $160.8M | $180.0M |
| 总债务越低越好 | $565.9M | $539.5M |
| 股东权益账面价值 | $12.4M | $283.7M |
| 总资产 | $791.2M | $1.5B |
| 负债/权益比越低杠杆越低 | 45.54× | 1.90× |
8季度趋势，按日历期对齐
现金及短期投资ATECCSGS
| Q4 25 | $160.8M | $180.0M | ||
| Q3 25 | $155.7M | $158.4M | ||
| Q2 25 | $157.1M | $145.9M | ||
| Q1 25 | $153.2M | $136.0M | ||
| Q4 24 | $138.8M | $161.8M | ||
| Q3 24 | $81.0M | $118.4M | ||
| Q2 24 | $99.8M | $110.4M | ||
| Q1 24 | $144.1M | $120.8M |
总债务ATECCSGS
| Q4 25 | $565.9M | $539.5M | ||
| Q3 25 | $559.7M | $538.6M | ||
| Q2 25 | $553.9M | $537.8M | ||
| Q1 25 | $548.4M | $537.6M | ||
| Q4 24 | $576.2M | $538.5M | ||
| Q3 24 | $527.7M | $539.5M | ||
| Q2 24 | $519.2M | $540.5M | ||
| Q1 24 | $514.4M | $541.5M |
股东权益ATECCSGS
| Q4 25 | $12.4M | $283.7M | ||
| Q3 25 | $11.5M | $289.5M | ||
| Q2 25 | $23.8M | $290.7M | ||
| Q1 25 | $-85.9M | $283.1M | ||
| Q4 24 | $-14.2M | $282.6M | ||
| Q3 24 | $-1.4M | $288.4M | ||
| Q2 24 | $17.1M | $273.3M | ||
| Q1 24 | $37.6M | $269.3M |
总资产ATECCSGS
| Q4 25 | $791.2M | $1.5B | ||
| Q3 25 | $787.2M | $1.5B | ||
| Q2 25 | $790.3M | $1.4B | ||
| Q1 25 | $785.5M | $1.4B | ||
| Q4 24 | $775.7M | $1.5B | ||
| Q3 24 | $745.9M | $1.4B | ||
| Q2 24 | $768.6M | $1.4B | ||
| Q1 24 | $774.6M | $1.3B |
负债/权益比ATECCSGS
| Q4 25 | 45.54× | 1.90× | ||
| Q3 25 | 48.64× | 1.86× | ||
| Q2 25 | 23.30× | 1.85× | ||
| Q1 25 | — | 1.90× | ||
| Q4 24 | — | 1.91× | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | 30.34× | 1.98× | ||
| Q1 24 | 13.70× | 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 | $20.7M | $59.2M |
| 自由现金流经营现金流 - 资本支出 | $7.7M | $55.8M |
| 自由现金流率自由现金流/营收 | 3.6% | 17.3% |
| 资本支出强度资本支出/营收 | 6.1% | 1.1% |
| 现金转化率经营现金流/净利润 | — | 8.46× |
| 过去12个月自由现金流最近4个季度 | $2.8M | $141.4M |
8季度趋势，按日历期对齐
经营现金流ATECCSGS
| Q4 25 | $20.7M | $59.2M | ||
| Q3 25 | $14.0M | $47.9M | ||
| Q2 25 | $15.5M | $37.3M | ||
| Q1 25 | $-5.0M | $11.5M | ||
| Q4 24 | $10.5M | $82.5M | ||
| Q3 24 | $-5.3M | $39.5M | ||
| Q2 24 | $-11.4M | $43.1M | ||
| Q1 24 | $-38.4M | $-29.4M |
自由现金流ATECCSGS
| Q4 25 | $7.7M | $55.8M | ||
| Q3 25 | $4.8M | $43.9M | ||
| Q2 25 | $5.2M | $34.6M | ||
| Q1 25 | $-15.0M | $7.1M | ||
| Q4 24 | $8.5M | $76.6M | ||
| Q3 24 | $-21.2M | $32.0M | ||
| Q2 24 | $-45.5M | $38.8M | ||
| Q1 24 | $-69.8M | $-34.1M |
自由现金流率ATECCSGS
| Q4 25 | 3.6% | 17.3% | ||
| Q3 25 | 2.4% | 14.5% | ||
| Q2 25 | 2.8% | 11.6% | ||
| Q1 25 | -8.9% | 2.4% | ||
| Q4 24 | 4.8% | 24.2% | ||
| Q3 24 | -14.1% | 10.8% | ||
| Q2 24 | -31.3% | 13.4% | ||
| Q1 24 | -50.4% | -11.6% |
资本支出强度ATECCSGS
| Q4 25 | 6.1% | 1.1% | ||
| Q3 25 | 4.7% | 1.3% | ||
| Q2 25 | 5.6% | 0.9% | ||
| Q1 25 | 5.9% | 1.5% | ||
| Q4 24 | 1.1% | 1.9% | ||
| Q3 24 | 10.5% | 2.5% | ||
| Q2 24 | 23.4% | 1.5% | ||
| Q1 24 | 22.6% | 1.6% |
现金转化率ATECCSGS
| Q4 25 | — | 8.46× | ||
| Q3 25 | — | 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
ATEC
暂无分部数据
CSGS
| Software As A Service And Related Solutions | $287.2M | 89% |
| License And Service | $22.6M | 7% |
| Maintenance | $13.3M | 4% |
