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B&G Foods, Inc.（BGS）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
B&G Foods, Inc.的季度营收约是南玻集团的1.4倍（$439.3M vs $323.1M），南玻集团净利率更高（2.2% vs -4.4%，领先6.5%），南玻集团同比增速更快（2.0% vs -4.7%），南玻集团自由现金流更多（$55.8M vs $-70.7M），过去两年南玻集团的营收复合增速更高（4.6% vs -12.8%）
B&G Foods是总部位于美国新泽西州帕西帕尼的品牌食品控股企业，创立于1996年，成立初衷是收购1889年诞生于曼哈顿的酸黄瓜、调味酱及调味品生产商Bloch & Guggenheimer，如今在北美食品领域拥有众多知名品牌。
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。
BGS vs CSGS — 直观对比
营收规模更大
BGS
是对方的1.4倍
$323.1M
营收增速更快
CSGS
高出6.8%
-4.7%
净利率更高
CSGS
高出6.5%
-4.4%
自由现金流更多
CSGS
多$126.5M
$-70.7M
两年增速更快
CSGS
近两年复合增速
-12.8%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $439.3M | $323.1M |
| 净利润 | $-19.1M | $7.0M |
| 毛利率 | 22.5% | 50.0% |
| 营业利润率 | 2.5% | 9.0% |
| 净利率 | -4.4% | 2.2% |
| 营收同比 | -4.7% | 2.0% |
| 净利润同比 | -356.5% | -79.7% |
| 每股收益（稀释后） | $-0.24 | $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BGSCSGS
| Q4 25 | — | $323.1M | ||
| Q3 25 | $439.3M | $303.6M | ||
| Q2 25 | $424.4M | $297.1M | ||
| Q1 25 | $425.4M | $299.5M | ||
| Q4 24 | $551.6M | $316.7M | ||
| Q3 24 | $461.1M | $295.1M | ||
| Q2 24 | $444.6M | $290.3M | ||
| Q1 24 | $475.2M | $295.1M |
净利润BGSCSGS
| Q4 25 | — | $7.0M | ||
| Q3 25 | $-19.1M | $20.5M | ||
| Q2 25 | $-9.8M | $12.3M | ||
| Q1 25 | $835.0K | $16.1M | ||
| Q4 24 | $-222.4M | $34.5M | ||
| Q3 24 | $7.5M | $19.1M | ||
| Q2 24 | $3.9M | $13.8M | ||
| Q1 24 | $-40.2M | $19.5M |
毛利率BGSCSGS
| Q4 25 | — | 50.0% | ||
| Q3 25 | 22.5% | 48.1% | ||
| Q2 25 | 20.5% | 49.5% | ||
| Q1 25 | 21.2% | 48.4% | ||
| Q4 24 | 21.5% | 51.3% | ||
| Q3 24 | 22.2% | 49.4% | ||
| Q2 24 | 20.7% | 47.3% | ||
| Q1 24 | 22.9% | 46.5% |
营业利润率BGSCSGS
| Q4 25 | — | 9.0% | ||
| Q3 25 | 2.5% | 10.0% | ||
| Q2 25 | 5.2% | 10.0% | ||
| Q1 25 | 8.4% | 9.8% | ||
| Q4 24 | -46.6% | 13.4% | ||
| Q3 24 | 11.1% | 10.8% | ||
| Q2 24 | 9.9% | 8.8% | ||
| Q1 24 | -3.3% | 10.8% |
净利率BGSCSGS
| Q4 25 | — | 2.2% | ||
| Q3 25 | -4.4% | 6.7% | ||
| Q2 25 | -2.3% | 4.1% | ||
| Q1 25 | 0.2% | 5.4% | ||
| Q4 24 | -40.3% | 10.9% | ||
| Q3 24 | 1.6% | 6.5% | ||
| Q2 24 | 0.9% | 4.8% | ||
| Q1 24 | -8.5% | 6.6% |
每股收益（稀释后）BGSCSGS
| Q4 25 | — | $0.24 | ||
| Q3 25 | $-0.24 | $0.73 | ||
| Q2 25 | $-0.12 | $0.44 | ||
| Q1 25 | $0.01 | $0.57 | ||
| Q4 24 | $-2.81 | $1.20 | ||
| Q3 24 | $0.09 | $0.67 | ||
| Q2 24 | $0.05 | $0.48 | ||
| Q1 24 | $-0.51 | $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 | $60.9M | $180.0M |
| 总债务越低越好 | $2.0B | $539.5M |
| 股东权益账面价值 | $470.7M | $283.7M |
| 总资产 | $2.9B | $1.5B |
| 负债/权益比越低杠杆越低 | 4.30× | 1.90× |
8季度趋势，按日历期对齐
现金及短期投资BGSCSGS
| Q4 25 | — | $180.0M | ||
| Q3 25 | $60.9M | $158.4M | ||
| Q2 25 | $54.1M | $145.9M | ||
| Q1 25 | $61.2M | $136.0M | ||
| Q4 24 | $50.6M | $161.8M | ||
| Q3 24 | $54.7M | $118.4M | ||
| Q2 24 | $40.3M | $110.4M | ||
| Q1 24 | $42.5M | $120.8M |
总债务BGSCSGS
| Q4 25 | — | $539.5M | ||
| Q3 25 | $2.0B | $538.6M | ||
| Q2 25 | $2.0B | $537.8M | ||
| Q1 25 | $2.0B | $537.6M | ||
| Q4 24 | $2.0B | $538.5M | ||
| Q3 24 | $2.1B | $539.5M | ||
| Q2 24 | $2.0B | $540.5M | ||
| Q1 24 | $2.0B | $541.5M |
股东权益BGSCSGS
| Q4 25 | — | $283.7M | ||
| Q3 25 | $470.7M | $289.5M | ||
| Q2 25 | $501.4M | $290.7M | ||
| Q1 25 | $513.1M | $283.1M | ||
| Q4 24 | $524.8M | $282.6M | ||
| Q3 24 | $755.3M | $288.4M | ||
| Q2 24 | $765.0M | $273.3M | ||
| Q1 24 | $781.2M | $269.3M |
总资产BGSCSGS
| Q4 25 | — | $1.5B | ||
| Q3 25 | $2.9B | $1.5B | ||
| Q2 25 | $2.9B | $1.4B | ||
| Q1 25 | $3.0B | $1.4B | ||
| Q4 24 | $3.0B | $1.5B | ||
| Q3 24 | $3.4B | $1.4B | ||
| Q2 24 | $3.4B | $1.4B | ||
| Q1 24 | $3.4B | $1.3B |
负债/权益比BGSCSGS
| Q4 25 | — | 1.90× | ||
| Q3 25 | 4.30× | 1.86× | ||
| Q2 25 | 3.97× | 1.85× | ||
| Q1 25 | 3.91× | 1.90× | ||
| Q4 24 | 3.85× | 1.91× | ||
| Q3 24 | 2.75× | 1.87× | ||
| Q2 24 | 2.67× | 1.98× | ||
| Q1 24 | 2.61× | 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 | $-64.6M | $59.2M |
| 自由现金流经营现金流 - 资本支出 | $-70.7M | $55.8M |
| 自由现金流率自由现金流/营收 | -16.1% | 17.3% |
| 资本支出强度资本支出/营收 | 1.4% | 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 | $54.8M | $141.4M |
8季度趋势，按日历期对齐
经营现金流BGSCSGS
| Q4 25 | — | $59.2M | ||
| Q3 25 | $-64.6M | $47.9M | ||
| Q2 25 | $17.8M | $37.3M | ||
| Q1 25 | $52.7M | $11.5M | ||
| Q4 24 | $80.3M | $82.5M | ||
| Q3 24 | $4.2M | $39.5M | ||
| Q2 24 | $11.3M | $43.1M | ||
| Q1 24 | $35.1M | $-29.4M |
自由现金流BGSCSGS
| Q4 25 | — | $55.8M | ||
| Q3 25 | $-70.7M | $43.9M | ||
| Q2 25 | $11.5M | $34.6M | ||
| Q1 25 | $42.4M | $7.1M | ||
| Q4 24 | $71.7M | $76.6M | ||
| Q3 24 | $-679.0K | $32.0M | ||
| Q2 24 | $5.2M | $38.8M | ||
| Q1 24 | $27.5M | $-34.1M |
自由现金流率BGSCSGS
| Q4 25 | — | 17.3% | ||
| Q3 25 | -16.1% | 14.5% | ||
| Q2 25 | 2.7% | 11.6% | ||
| Q1 25 | 10.0% | 2.4% | ||
| Q4 24 | 13.0% | 24.2% | ||
| Q3 24 | -0.1% | 10.8% | ||
| Q2 24 | 1.2% | 13.4% | ||
| Q1 24 | 5.8% | -11.6% |
资本支出强度BGSCSGS
| Q4 25 | — | 1.1% | ||
| Q3 25 | 1.4% | 1.3% | ||
| Q2 25 | 1.5% | 0.9% | ||
| Q1 25 | 2.4% | 1.5% | ||
| Q4 24 | 1.6% | 1.9% | ||
| Q3 24 | 1.0% | 2.5% | ||
| Q2 24 | 1.4% | 1.5% | ||
| Q1 24 | 1.6% | 1.6% |
现金转化率BGSCSGS
| Q4 25 | — | 8.46× | ||
| Q3 25 | — | 2.34× | ||
| Q2 25 | — | 3.04× | ||
| Q1 25 | 63.17× | 0.71× | ||
| Q4 24 | — | 2.39× | ||
| Q3 24 | 0.56× | 2.07× | ||
| Q2 24 | 2.87× | 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
BGS
| Specialty Segment | $150.5M | 34% |
| Meals Segment | $110.0M | 25% |
| Spices And Flavor Solutions Segment | $101.4M | 23% |
| Frozen And Vegetables Segment | $77.4M | 18% |
CSGS
| Software As A Service And Related Solutions | $287.2M | 89% |
| License And Service | $22.6M | 7% |
| Maintenance | $13.3M | 4% |
