vs
Autohome Inc.（ATHM）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Autohome Inc.的1.3倍（$323.1M vs $249.8M）。Autohome Inc.净利率更高（23.8% vs 2.2%，领先21.6%）。过去两年南玻集团的营收复合增速更高（4.6% vs -0.6%）
Autohome Inc. 是曾经的高速有线互联网服务提供商，运营于1996年至2002年。由米洛·梅丁与电信通讯公司（TCI）、康卡斯特、考克斯通信，以及首任CEO威廉·伦道夫·赫斯特三世共同创立，是通过双向有线电视基础设施提供高速上网服务的合资企业，巅峰时期为美国、加拿大、日本、澳大利亚等地的410万用户提供服务。
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。
ATHM vs CSGS — 直观对比
营收规模更大
CSGS
是对方的1.3倍
$249.8M
净利率更高
ATHM
高出21.6%
2.2%
两年增速更快
CSGS
近两年复合增速
-0.6%
损益表 — Q3 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $249.8M | $323.1M |
| 净利润 | $59.4M | $7.0M |
| 毛利率 | 63.7% | 50.0% |
| 营业利润率 | 8.3% | 9.0% |
| 净利率 | 23.8% | 2.2% |
| 营收同比 | — | 2.0% |
| 净利润同比 | — | -79.7% |
| 每股收益（稀释后） | — | $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ATHMCSGS
| Q4 25 | — | $323.1M | ||
| Q3 25 | $249.8M | $303.6M | ||
| Q2 25 | $245.4M | $297.1M | ||
| Q1 25 | $244.3M | $299.5M | ||
| Q4 24 | — | $316.7M | ||
| Q3 24 | $252.9M | $295.1M | ||
| Q2 24 | $257.7M | $290.3M | ||
| Q1 24 | $222.9M | $295.1M |
净利润ATHMCSGS
| Q4 25 | — | $7.0M | ||
| Q3 25 | $59.4M | $20.5M | ||
| Q2 25 | $56.0M | $12.3M | ||
| Q1 25 | — | $16.1M | ||
| Q4 24 | — | $34.5M | ||
| Q3 24 | $61.0M | $19.1M | ||
| Q2 24 | $69.3M | $13.8M | ||
| Q1 24 | $52.4M | $19.5M |
毛利率ATHMCSGS
| Q4 25 | — | 50.0% | ||
| Q3 25 | 63.7% | 48.1% | ||
| Q2 25 | 71.4% | 49.5% | ||
| Q1 25 | — | 48.4% | ||
| Q4 24 | — | 51.3% | ||
| Q3 24 | 77.0% | 49.4% | ||
| Q2 24 | 81.5% | 47.3% | ||
| Q1 24 | 81.3% | 46.5% |
营业利润率ATHMCSGS
| Q4 25 | — | 9.0% | ||
| Q3 25 | 8.3% | 10.0% | ||
| Q2 25 | 16.9% | 10.0% | ||
| Q1 25 | 13.0% | 9.8% | ||
| Q4 24 | — | 13.4% | ||
| Q3 24 | 4.7% | 10.8% | ||
| Q2 24 | 22.0% | 8.8% | ||
| Q1 24 | 17.2% | 10.8% |
净利率ATHMCSGS
| Q4 25 | — | 2.2% | ||
| Q3 25 | 23.8% | 6.7% | ||
| Q2 25 | 22.8% | 4.1% | ||
| Q1 25 | — | 5.4% | ||
| Q4 24 | — | 10.9% | ||
| Q3 24 | 24.1% | 6.5% | ||
| Q2 24 | 26.9% | 4.8% | ||
| Q1 24 | 23.5% | 6.6% |
每股收益（稀释后）ATHMCSGS
| Q4 25 | — | $0.24 | ||
| Q3 25 | — | $0.73 | ||
| Q2 25 | — | $0.44 | ||
| Q1 25 | — | $0.57 | ||
| Q4 24 | — | $1.20 | ||
| Q3 24 | — | $0.67 | ||
| Q2 24 | — | $0.48 | ||
| Q1 24 | — | $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 | — | $180.0M |
| 总债务越低越好 | — | $539.5M |
| 股东权益账面价值 | — | $283.7M |
| 总资产 | — | $1.5B |
| 负债/权益比越低杠杆越低 | — | 1.90× |
8季度趋势，按日历期对齐
现金及短期投资ATHMCSGS
| Q4 25 | — | $180.0M | ||
| Q3 25 | — | $158.4M | ||
| Q2 25 | — | $145.9M | ||
| Q1 25 | — | $136.0M | ||
| Q4 24 | — | $161.8M | ||
| Q3 24 | — | $118.4M | ||
| Q2 24 | — | $110.4M | ||
| Q1 24 | — | $120.8M |
总债务ATHMCSGS
| Q4 25 | — | $539.5M | ||
| Q3 25 | — | $538.6M | ||
| Q2 25 | — | $537.8M | ||
| Q1 25 | — | $537.6M | ||
| Q4 24 | — | $538.5M | ||
| Q3 24 | — | $539.5M | ||
| Q2 24 | — | $540.5M | ||
| Q1 24 | — | $541.5M |
股东权益ATHMCSGS
| Q4 25 | — | $283.7M | ||
| Q3 25 | — | $289.5M | ||
| Q2 25 | — | $290.7M | ||
| Q1 25 | — | $283.1M | ||
| Q4 24 | — | $282.6M | ||
| Q3 24 | — | $288.4M | ||
| Q2 24 | — | $273.3M | ||
| Q1 24 | — | $269.3M |
总资产ATHMCSGS
| Q4 25 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.3B |
负债/权益比ATHMCSGS
| Q4 25 | — | 1.90× | ||
| Q3 25 | — | 1.86× | ||
| Q2 25 | — | 1.85× | ||
| Q1 25 | — | 1.90× | ||
| Q4 24 | — | 1.91× | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 1.98× | ||
| Q1 24 | — | 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 | — | $59.2M |
| 自由现金流经营现金流 - 资本支出 | — | $55.8M |
| 自由现金流率自由现金流/营收 | — | 17.3% |
| 资本支出强度资本支出/营收 | — | 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 | — | $141.4M |
8季度趋势，按日历期对齐
经营现金流ATHMCSGS
| Q4 25 | — | $59.2M | ||
| Q3 25 | — | $47.9M | ||
| Q2 25 | — | $37.3M | ||
| Q1 25 | — | $11.5M | ||
| Q4 24 | — | $82.5M | ||
| Q3 24 | — | $39.5M | ||
| Q2 24 | — | $43.1M | ||
| Q1 24 | — | $-29.4M |
自由现金流ATHMCSGS
| Q4 25 | — | $55.8M | ||
| Q3 25 | — | $43.9M | ||
| Q2 25 | — | $34.6M | ||
| Q1 25 | — | $7.1M | ||
| Q4 24 | — | $76.6M | ||
| Q3 24 | — | $32.0M | ||
| Q2 24 | — | $38.8M | ||
| Q1 24 | — | $-34.1M |
自由现金流率ATHMCSGS
| Q4 25 | — | 17.3% | ||
| Q3 25 | — | 14.5% | ||
| Q2 25 | — | 11.6% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | — | 24.2% | ||
| Q3 24 | — | 10.8% | ||
| Q2 24 | — | 13.4% | ||
| Q1 24 | — | -11.6% |
资本支出强度ATHMCSGS
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 1.6% |
现金转化率ATHMCSGS
| 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
ATHM
| Online marketplace and others | $114.7M | 46% |
| Leads generation services | $93.2M | 37% |
| Media services | $41.9M | 17% |
CSGS
| Software As A Service And Related Solutions | $287.2M | 89% |
| License And Service | $22.6M | 7% |
| Maintenance | $13.3M | 4% |
