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阿姆斯壮世界工业（AWI）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
阿姆斯壮世界工业的季度营收约是南玻集团的1.2倍（$388.3M vs $323.1M），阿姆斯壮世界工业净利率更高（16.9% vs 2.2%，领先14.7%），阿姆斯壮世界工业同比增速更快（5.6% vs 2.0%），阿姆斯壮世界工业自由现金流更多（$62.2M vs $55.8M），过去两年阿姆斯壮世界工业的营收复合增速更高（9.1% vs 4.6%）
阿姆斯壮世界工业是一家国际知名的墙面及吊顶建筑材料设计与生产商，总部位于美国宾夕法尼亚州兰开斯特市。截至2014年，公司共有3100名员工，在全球布局17个生产基地，较2012年的26个有所减少，其中9家工厂隶属于其WAVE合资项目。
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。
AWI vs CSGS — 直观对比
营收规模更大
AWI
是对方的1.2倍
$323.1M
营收增速更快
AWI
高出3.6%
2.0%
净利率更高
AWI
高出14.7%
2.2%
自由现金流更多
AWI
多$6.4M
$55.8M
两年增速更快
AWI
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $388.3M | $323.1M |
| 净利润 | $65.5M | $7.0M |
| 毛利率 | 39.8% | 50.0% |
| 营业利润率 | 23.7% | 9.0% |
| 净利率 | 16.9% | 2.2% |
| 营收同比 | 5.6% | 2.0% |
| 净利润同比 | 5.3% | -79.7% |
| 每股收益（稀释后） | $1.51 | $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AWICSGS
| Q4 25 | $388.3M | $323.1M | ||
| Q3 25 | $425.2M | $303.6M | ||
| Q2 25 | $424.6M | $297.1M | ||
| Q1 25 | $382.7M | $299.5M | ||
| Q4 24 | $367.7M | $316.7M | ||
| Q3 24 | $386.6M | $295.1M | ||
| Q2 24 | $365.1M | $290.3M | ||
| Q1 24 | $326.3M | $295.1M |
净利润AWICSGS
| Q4 25 | $65.5M | $7.0M | ||
| Q3 25 | $86.3M | $20.5M | ||
| Q2 25 | $87.8M | $12.3M | ||
| Q1 25 | $69.1M | $16.1M | ||
| Q4 24 | $62.2M | $34.5M | ||
| Q3 24 | $76.9M | $19.1M | ||
| Q2 24 | $65.9M | $13.8M | ||
| Q1 24 | $59.9M | $19.5M |
毛利率AWICSGS
| Q4 25 | 39.8% | 50.0% | ||
| Q3 25 | 42.0% | 48.1% | ||
| Q2 25 | 41.4% | 49.5% | ||
| Q1 25 | 39.2% | 48.4% | ||
| Q4 24 | 39.1% | 51.3% | ||
| Q3 24 | 42.4% | 49.4% | ||
| Q2 24 | 40.9% | 47.3% | ||
| Q1 24 | 38.1% | 46.5% |
营业利润率AWICSGS
| Q4 25 | 23.7% | 9.0% | ||
| Q3 25 | 27.6% | 10.0% | ||
| Q2 25 | 29.0% | 10.0% | ||
| Q1 25 | 25.7% | 9.8% | ||
| Q4 24 | 22.3% | 13.4% | ||
| Q3 24 | 28.8% | 10.8% | ||
| Q2 24 | 26.0% | 8.8% | ||
| Q1 24 | 26.4% | 10.8% |
净利率AWICSGS
| Q4 25 | 16.9% | 2.2% | ||
| Q3 25 | 20.3% | 6.7% | ||
| Q2 25 | 20.7% | 4.1% | ||
| Q1 25 | 18.1% | 5.4% | ||
| Q4 24 | 16.9% | 10.9% | ||
| Q3 24 | 19.9% | 6.5% | ||
| Q2 24 | 18.0% | 4.8% | ||
| Q1 24 | 18.4% | 6.6% |
每股收益（稀释后）AWICSGS
| Q4 25 | $1.51 | $0.24 | ||
| Q3 25 | $1.98 | $0.73 | ||
| Q2 25 | $2.01 | $0.44 | ||
| Q1 25 | $1.58 | $0.57 | ||
| Q4 24 | $1.41 | $1.20 | ||
| Q3 24 | $1.75 | $0.67 | ||
| Q2 24 | $1.50 | $0.48 | ||
| Q1 24 | $1.36 | $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 | $112.7M | $180.0M |
| 总债务越低越好 | — | $539.5M |
| 股东权益账面价值 | $900.7M | $283.7M |
| 总资产 | $1.9B | $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AWICSGS
| Q4 25 | $112.7M | $180.0M | ||
| Q3 25 | $90.1M | $158.4M | ||
| Q2 25 | $81.1M | $145.9M | ||
| Q1 25 | $82.8M | $136.0M | ||
| Q4 24 | $79.3M | $161.8M | ||
| Q3 24 | $73.7M | $118.4M | ||
| Q2 24 | $73.6M | $110.4M | ||
| Q1 24 | $69.6M | $120.8M |
总债务AWICSGS
| 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AWICSGS
| Q4 25 | $900.7M | $283.7M | ||
| Q3 25 | $889.2M | $289.5M | ||
| Q2 25 | $837.8M | $290.7M | ||
| Q1 25 | $793.4M | $283.1M | ||
| Q4 24 | $757.1M | $282.6M | ||
| Q3 24 | $717.0M | $288.4M | ||
| Q2 24 | $669.0M | $273.3M | ||
| Q1 24 | $626.8M | $269.3M |
总资产AWICSGS
| Q4 25 | $1.9B | $1.5B | ||
| Q3 25 | $1.9B | $1.5B | ||
| Q2 25 | $1.9B | $1.4B | ||
| Q1 25 | $1.9B | $1.4B | ||
| Q4 24 | $1.8B | $1.5B | ||
| Q3 24 | $1.8B | $1.4B | ||
| Q2 24 | $1.8B | $1.4B | ||
| Q1 24 | $1.7B | $1.3B |
负债/权益比AWICSGS
| 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 | $110.0M | $59.2M |
| 自由现金流经营现金流 - 资本支出 | $62.2M | $55.8M |
| 自由现金流率自由现金流/营收 | 16.0% | 17.3% |
| 资本支出强度资本支出/营收 | 12.3% | 1.1% |
| 现金转化率经营现金流/净利润 | 1.68× | 8.46× |
| 过去12个月自由现金流最近4个季度 | $246.1M | $141.4M |
8季度趋势，按日历期对齐
经营现金流AWICSGS
| Q4 25 | $110.0M | $59.2M | ||
| Q3 25 | $122.9M | $47.9M | ||
| Q2 25 | $81.6M | $37.3M | ||
| Q1 25 | $41.0M | $11.5M | ||
| Q4 24 | $86.6M | $82.5M | ||
| Q3 24 | $96.5M | $39.5M | ||
| Q2 24 | $57.3M | $43.1M | ||
| Q1 24 | $26.4M | $-29.4M |
自由现金流AWICSGS
| Q4 25 | $62.2M | $55.8M | ||
| Q3 25 | $100.3M | $43.9M | ||
| Q2 25 | $61.7M | $34.6M | ||
| Q1 25 | $21.9M | $7.1M | ||
| Q4 24 | $57.8M | $76.6M | ||
| Q3 24 | $77.1M | $32.0M | ||
| Q2 24 | $37.4M | $38.8M | ||
| Q1 24 | $11.7M | $-34.1M |
自由现金流率AWICSGS
| Q4 25 | 16.0% | 17.3% | ||
| Q3 25 | 23.6% | 14.5% | ||
| Q2 25 | 14.5% | 11.6% | ||
| Q1 25 | 5.7% | 2.4% | ||
| Q4 24 | 15.7% | 24.2% | ||
| Q3 24 | 19.9% | 10.8% | ||
| Q2 24 | 10.2% | 13.4% | ||
| Q1 24 | 3.6% | -11.6% |
资本支出强度AWICSGS
| Q4 25 | 12.3% | 1.1% | ||
| Q3 25 | 5.3% | 1.3% | ||
| Q2 25 | 4.7% | 0.9% | ||
| Q1 25 | 5.0% | 1.5% | ||
| Q4 24 | 7.8% | 1.9% | ||
| Q3 24 | 5.0% | 2.5% | ||
| Q2 24 | 5.5% | 1.5% | ||
| Q1 24 | 4.5% | 1.6% |
现金转化率AWICSGS
| Q4 25 | 1.68× | 8.46× | ||
| Q3 25 | 1.42× | 2.34× | ||
| Q2 25 | 0.93× | 3.04× | ||
| Q1 25 | 0.59× | 0.71× | ||
| Q4 24 | 1.39× | 2.39× | ||
| Q3 24 | 1.25× | 2.07× | ||
| Q2 24 | 0.87× | 3.12× | ||
| Q1 24 | 0.44× | -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
AWI
| Distributors | $183.0M | 47% |
| Architectural Specialties | $143.7M | 37% |
| Home Centers | $27.2M | 7% |
| Retailers And Other | $21.7M | 6% |
| Direct Customers | $12.7M | 3% |
CSGS
| Software As A Service And Related Solutions | $287.2M | 89% |
| License And Service | $22.6M | 7% |
| Maintenance | $13.3M | 4% |
