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BGC Group, Inc.（BGC）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
BGC Group, Inc.的季度营收约是南玻集团的2.0倍（$638.6M vs $323.1M），BGC Group, Inc.净利率更高（2.3% vs 2.2%，领先0.1%），BGC Group, Inc.同比增速更快（34.4% vs 2.0%），BGC Group, Inc.自由现金流更多（$175.1M vs $55.8M），过去两年BGC Group, Inc.的营收复合增速更高（18.7% vs 4.6%）
BGC集团是一家总部位于纽约和伦敦的美国全球性金融服务企业，最初隶属于康托·菲茨杰拉德集团，2004年正式独立运营，业务范围覆盖全球金融市场相关服务领域。
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。
BGC vs CSGS — 直观对比
营收规模更大
BGC
是对方的2.0倍
$323.1M
营收增速更快
BGC
高出32.4%
2.0%
净利率更高
BGC
高出0.1%
2.2%
自由现金流更多
BGC
多$119.3M
$55.8M
两年增速更快
BGC
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $638.6M | $323.1M |
| 净利润 | $14.4M | $7.0M |
| 毛利率 | — | 50.0% |
| 营业利润率 | 3.9% | 9.0% |
| 净利率 | 2.3% | 2.2% |
| 营收同比 | 34.4% | 2.0% |
| 净利润同比 | -43.0% | -79.7% |
| 每股收益（稀释后） | $0.03 | $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BGCCSGS
| Q4 25 | $638.6M | $323.1M | ||
| Q3 25 | $620.8M | $303.6M | ||
| Q2 25 | $648.0M | $297.1M | ||
| Q1 25 | $534.6M | $299.5M | ||
| Q4 24 | $475.2M | $316.7M | ||
| Q3 24 | $448.9M | $295.1M | ||
| Q2 24 | $435.0M | $290.3M | ||
| Q1 24 | $453.6M | $295.1M |
净利润BGCCSGS
| Q4 25 | $14.4M | $7.0M | ||
| Q3 25 | $27.9M | $20.5M | ||
| Q2 25 | $57.5M | $12.3M | ||
| Q1 25 | $55.2M | $16.1M | ||
| Q4 24 | $25.2M | $34.5M | ||
| Q3 24 | $14.7M | $19.1M | ||
| Q2 24 | $37.8M | $13.8M | ||
| Q1 24 | $49.2M | $19.5M |
毛利率BGCCSGS
| Q4 25 | — | 50.0% | ||
| Q3 25 | — | 48.1% | ||
| Q2 25 | — | 49.5% | ||
| Q1 25 | — | 48.4% | ||
| Q4 24 | — | 51.3% | ||
| Q3 24 | — | 49.4% | ||
| Q2 24 | — | 47.3% | ||
| Q1 24 | — | 46.5% |
营业利润率BGCCSGS
| Q4 25 | 3.9% | 9.0% | ||
| Q3 25 | 5.4% | 10.0% | ||
| Q2 25 | 11.6% | 10.0% | ||
| Q1 25 | 15.0% | 9.8% | ||
| Q4 24 | 5.7% | 13.4% | ||
| Q3 24 | 4.4% | 10.8% | ||
| Q2 24 | 12.7% | 8.8% | ||
| Q1 24 | 15.7% | 10.8% |
净利率BGCCSGS
| Q4 25 | 2.3% | 2.2% | ||
| Q3 25 | 4.5% | 6.7% | ||
| Q2 25 | 8.9% | 4.1% | ||
| Q1 25 | 10.3% | 5.4% | ||
| Q4 24 | 5.3% | 10.9% | ||
| Q3 24 | 3.3% | 6.5% | ||
| Q2 24 | 8.7% | 4.8% | ||
| Q1 24 | 10.8% | 6.6% |
每股收益（稀释后）BGCCSGS
| Q4 25 | $0.03 | $0.24 | ||
| Q3 25 | $0.06 | $0.73 | ||
| Q2 25 | $0.11 | $0.44 | ||
| Q1 25 | $0.11 | $0.57 | ||
| Q4 24 | $0.04 | $1.20 | ||
| Q3 24 | $0.03 | $0.67 | ||
| Q2 24 | $0.08 | $0.48 | ||
| Q1 24 | $0.10 | $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 | $851.5M | $180.0M |
| 总债务越低越好 | $1.5B | $539.5M |
| 股东权益账面价值 | $972.5M | $283.7M |
| 总资产 | $4.4B | $1.5B |
| 负债/权益比越低杠杆越低 | 1.58× | 1.90× |
8季度趋势，按日历期对齐
现金及短期投资BGCCSGS
| Q4 25 | $851.5M | $180.0M | ||
| Q3 25 | $774.9M | $158.4M | ||
| Q2 25 | $827.8M | $145.9M | ||
| Q1 25 | $966.4M | $136.0M | ||
| Q4 24 | $711.6M | $161.8M | ||
| Q3 24 | $563.5M | $118.4M | ||
| Q2 24 | $571.7M | $110.4M | ||
| Q1 24 | $566.8M | $120.8M |
总债务BGCCSGS
| Q4 25 | $1.5B | $539.5M | ||
| Q3 25 | $1.8B | $538.6M | ||
| Q2 25 | $1.8B | $537.8M | ||
| Q1 25 | $1.1B | $537.6M | ||
| Q4 24 | $1.1B | $538.5M | ||
| Q3 24 | $1.4B | $539.5M | ||
| Q2 24 | $1.4B | $540.5M | ||
| Q1 24 | $945.0M | $541.5M |
股东权益BGCCSGS
| Q4 25 | $972.5M | $283.7M | ||
| Q3 25 | $965.3M | $289.5M | ||
| Q2 25 | $930.5M | $290.7M | ||
| Q1 25 | $963.8M | $283.1M | ||
| Q4 24 | $898.5M | $282.6M | ||
| Q3 24 | $860.1M | $288.4M | ||
| Q2 24 | $858.1M | $273.3M | ||
| Q1 24 | $912.1M | $269.3M |
总资产BGCCSGS
| Q4 25 | $4.4B | $1.5B | ||
| Q3 25 | $5.8B | $1.5B | ||
| Q2 25 | $4.9B | $1.4B | ||
| Q1 25 | $4.9B | $1.4B | ||
| Q4 24 | $3.6B | $1.5B | ||
| Q3 24 | $4.4B | $1.4B | ||
| Q2 24 | $4.3B | $1.4B | ||
| Q1 24 | $4.4B | $1.3B |
负债/权益比BGCCSGS
| Q4 25 | 1.58× | 1.90× | ||
| Q3 25 | 1.90× | 1.86× | ||
| Q2 25 | 1.97× | 1.85× | ||
| Q1 25 | 1.19× | 1.90× | ||
| Q4 24 | 1.27× | 1.91× | ||
| Q3 24 | 1.68× | 1.87× | ||
| Q2 24 | 1.68× | 1.98× | ||
| Q1 24 | 1.04× | 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 | $180.4M | $59.2M |
| 自由现金流经营现金流 - 资本支出 | $175.1M | $55.8M |
| 自由现金流率自由现金流/营收 | 27.4% | 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 | 12.55× | 8.46× |
| 过去12个月自由现金流最近4个季度 | $372.9M | $141.4M |
8季度趋势，按日历期对齐
经营现金流BGCCSGS
| Q4 25 | $180.4M | $59.2M | ||
| Q3 25 | $141.9M | $47.9M | ||
| Q2 25 | $71.2M | $37.3M | ||
| Q1 25 | $839.0K | $11.5M | ||
| Q4 24 | $251.9M | $82.5M | ||
| Q3 24 | $88.3M | $39.5M | ||
| Q2 24 | $-53.0M | $43.1M | ||
| Q1 24 | $28.1M | $-29.4M |
自由现金流BGCCSGS
| Q4 25 | $175.1M | $55.8M | ||
| Q3 25 | $137.2M | $43.9M | ||
| Q2 25 | $65.0M | $34.6M | ||
| Q1 25 | $-4.4M | $7.1M | ||
| Q4 24 | $245.6M | $76.6M | ||
| Q3 24 | $78.8M | $32.0M | ||
| Q2 24 | $-63.5M | $38.8M | ||
| Q1 24 | $24.9M | $-34.1M |
自由现金流率BGCCSGS
| Q4 25 | 27.4% | 17.3% | ||
| Q3 25 | 22.1% | 14.5% | ||
| Q2 25 | 10.0% | 11.6% | ||
| Q1 25 | -0.8% | 2.4% | ||
| Q4 24 | 51.7% | 24.2% | ||
| Q3 24 | 17.5% | 10.8% | ||
| Q2 24 | -14.6% | 13.4% | ||
| Q1 24 | 5.5% | -11.6% |
资本支出强度BGCCSGS
| Q4 25 | 0.8% | 1.1% | ||
| Q3 25 | 0.8% | 1.3% | ||
| Q2 25 | 1.0% | 0.9% | ||
| Q1 25 | 1.0% | 1.5% | ||
| Q4 24 | 1.3% | 1.9% | ||
| Q3 24 | 2.1% | 2.5% | ||
| Q2 24 | 2.4% | 1.5% | ||
| Q1 24 | 0.7% | 1.6% |
现金转化率BGCCSGS
| Q4 25 | 12.55× | 8.46× | ||
| Q3 25 | 5.09× | 2.34× | ||
| Q2 25 | 1.24× | 3.04× | ||
| Q1 25 | 0.02× | 0.71× | ||
| Q4 24 | 9.99× | 2.39× | ||
| Q3 24 | 5.99× | 2.07× | ||
| Q2 24 | -1.40× | 3.12× | ||
| Q1 24 | 0.57× | -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
BGC
| Commissions | $590.2M | 92% |
| Data Software And Post Trade | $36.7M | 6% |
| Fees From Related Parties | $4.6M | 1% |
CSGS
| Software As A Service And Related Solutions | $287.2M | 89% |
| License And Service | $22.6M | 7% |
| Maintenance | $13.3M | 4% |
