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Barnes & Noble Education, Inc.（BNED）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
Barnes & Noble Education, Inc.的季度营收约是南玻集团的1.9倍（$598.2M vs $323.1M），Barnes & Noble Education, Inc.净利率更高（4.2% vs 2.2%，领先2.0%），Barnes & Noble Education, Inc.同比增速更快（6.9% vs 2.0%），Barnes & Noble Education, Inc.自由现金流更多（$61.9M vs $55.8M），过去两年Barnes & Noble Education, Inc.的营收复合增速更高（20.0% vs 4.6%）
巴诺教育旗下的巴诺书店是美国门店数量最多的图书零售商，目前在美国各地经营着七百多家线下实体门店，是美国本土颇具影响力的线下图书零售企业，深耕图书零售领域多年。
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。
BNED vs CSGS — 直观对比
营收规模更大
BNED
是对方的1.9倍
$323.1M
营收增速更快
BNED
高出4.9%
2.0%
净利率更高
BNED
高出2.0%
2.2%
自由现金流更多
BNED
多$6.1M
$55.8M
两年增速更快
BNED
近两年复合增速
4.6%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $598.2M | $323.1M |
| 净利润 | $25.0M | $7.0M |
| 毛利率 | 21.7% | 50.0% |
| 营业利润率 | 6.8% | 9.0% |
| 净利率 | 4.2% | 2.2% |
| 营收同比 | 6.9% | 2.0% |
| 净利润同比 | -49.7% | -79.7% |
| 每股收益（稀释后） | $0.72 | $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BNEDCSGS
| Q4 25 | $598.2M | $323.1M | ||
| Q3 25 | $274.2M | $303.6M | ||
| Q2 25 | $233.0M | $297.1M | ||
| Q1 25 | $419.7M | $299.5M | ||
| Q4 24 | $559.7M | $316.7M | ||
| Q3 24 | $250.9M | $295.1M | ||
| Q2 24 | $192.7M | $290.3M | ||
| Q1 24 | $415.4M | $295.1M |
净利润BNEDCSGS
| Q4 25 | $25.0M | $7.0M | ||
| Q3 25 | $-18.3M | $20.5M | ||
| Q2 25 | $-23.0M | $12.3M | ||
| Q1 25 | $17.9M | $16.1M | ||
| Q4 24 | $43.2M | $34.5M | ||
| Q3 24 | $-103.9M | $19.1M | ||
| Q2 24 | $-41.9M | $13.8M | ||
| Q1 24 | $-9.3M | $19.5M |
毛利率BNEDCSGS
| Q4 25 | 21.7% | 50.0% | ||
| Q3 25 | 20.2% | 48.1% | ||
| Q2 25 | 30.3% | 49.5% | ||
| Q1 25 | 22.3% | 48.4% | ||
| Q4 24 | 23.0% | 51.3% | ||
| Q3 24 | 17.9% | 49.4% | ||
| Q2 24 | 28.7% | 47.3% | ||
| Q1 24 | 24.2% | 46.5% |
营业利润率BNEDCSGS
| Q4 25 | 6.8% | 9.0% | ||
| Q3 25 | -8.4% | 10.0% | ||
| Q2 25 | -4.9% | 10.0% | ||
| Q1 25 | 4.5% | 9.8% | ||
| Q4 24 | 8.4% | 13.4% | ||
| Q3 24 | -15.4% | 10.8% | ||
| Q2 24 | -16.3% | 8.8% | ||
| Q1 24 | 0.4% | 10.8% |
净利率BNEDCSGS
| Q4 25 | 4.2% | 2.2% | ||
| Q3 25 | -6.7% | 6.7% | ||
| Q2 25 | -9.9% | 4.1% | ||
| Q1 25 | 4.3% | 5.4% | ||
| Q4 24 | 7.7% | 10.9% | ||
| Q3 24 | -41.4% | 6.5% | ||
| Q2 24 | -21.7% | 4.8% | ||
| Q1 24 | -2.2% | 6.6% |
每股收益（稀释后）BNEDCSGS
| Q4 25 | $0.72 | $0.24 | ||
| Q3 25 | $-0.54 | $0.73 | ||
| Q2 25 | $2.97 | $0.44 | ||
| Q1 25 | $0.59 | $0.57 | ||
| Q4 24 | $1.63 | $1.20 | ||
| Q3 24 | $-7.69 | $0.67 | ||
| Q2 24 | $-15.68 | $0.48 | ||
| Q1 24 | $-3.49 | $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 | $11.7M | $180.0M |
| 总债务越低越好 | $122.5M | $539.5M |
| 股东权益账面价值 | $283.2M | $283.7M |
| 总资产 | $1.1B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.43× | 1.90× |
8季度趋势，按日历期对齐
现金及短期投资BNEDCSGS
| Q4 25 | $11.7M | $180.0M | ||
| Q3 25 | $7.3M | $158.4M | ||
| Q2 25 | $9.1M | $145.9M | ||
| Q1 25 | $9.2M | $136.0M | ||
| Q4 24 | $11.6M | $161.8M | ||
| Q3 24 | $8.2M | $118.4M | ||
| Q2 24 | $10.5M | $110.4M | ||
| Q1 24 | $8.1M | $120.8M |
总债务BNEDCSGS
| Q4 25 | $122.5M | $539.5M | ||
| Q3 25 | $170.0M | $538.6M | ||
| Q2 25 | $103.1M | $537.8M | ||
| Q1 25 | $141.2M | $537.6M | ||
| Q4 24 | $177.6M | $538.5M | ||
| Q3 24 | $221.9M | $539.5M | ||
| Q2 24 | $196.3M | $540.5M | ||
| Q1 24 | $30.2M | $541.5M |
股东权益BNEDCSGS
| Q4 25 | $283.2M | $283.7M | ||
| Q3 25 | $256.5M | $289.5M | ||
| Q2 25 | $272.2M | $290.7M | ||
| Q1 25 | $292.9M | $283.1M | ||
| Q4 24 | $211.4M | $282.6M | ||
| Q3 24 | $149.8M | $288.4M | ||
| Q2 24 | $80.4M | $273.3M | ||
| Q1 24 | $121.5M | $269.3M |
总资产BNEDCSGS
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $950.8M | $1.5B | ||
| Q2 25 | $790.3M | $1.4B | ||
| Q1 25 | $1.1B | $1.4B | ||
| Q4 24 | $1.0B | $1.5B | ||
| Q3 24 | $973.2M | $1.4B | ||
| Q2 24 | $909.9M | $1.4B | ||
| Q1 24 | $1.2B | $1.3B |
负债/权益比BNEDCSGS
| Q4 25 | 0.43× | 1.90× | ||
| Q3 25 | 0.66× | 1.86× | ||
| Q2 25 | 0.38× | 1.85× | ||
| Q1 25 | 0.48× | 1.90× | ||
| Q4 24 | 0.84× | 1.91× | ||
| Q3 24 | 1.48× | 1.87× | ||
| Q2 24 | 2.44× | 1.98× | ||
| Q1 24 | 0.25× | 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 | $66.2M | $59.2M |
| 自由现金流经营现金流 - 资本支出 | $61.9M | $55.8M |
| 自由现金流率自由现金流/营收 | 10.4% | 17.3% |
| 资本支出强度资本支出/营收 | 0.7% | 1.1% |
| 现金转化率经营现金流/净利润 | 2.65× | 8.46× |
| 过去12个月自由现金流最近4个季度 | $-4.6M | $141.4M |
8季度趋势，按日历期对齐
经营现金流BNEDCSGS
| Q4 25 | $66.2M | $59.2M | ||
| Q3 25 | $-67.6M | $47.9M | ||
| Q2 25 | $52.6M | $37.3M | ||
| Q1 25 | $-41.9M | $11.5M | ||
| Q4 24 | $47.4M | $82.5M | ||
| Q3 24 | $-143.5M | $39.5M | ||
| Q2 24 | $81.7M | $43.1M | ||
| Q1 24 | $-35.8M | $-29.4M |
自由现金流BNEDCSGS
| Q4 25 | $61.9M | $55.8M | ||
| Q3 25 | $-71.3M | $43.9M | ||
| Q2 25 | $49.5M | $34.6M | ||
| Q1 25 | $-44.7M | $7.1M | ||
| Q4 24 | $44.4M | $76.6M | ||
| Q3 24 | $-147.5M | $32.0M | ||
| Q2 24 | $79.1M | $38.8M | ||
| Q1 24 | $-39.0M | $-34.1M |
自由现金流率BNEDCSGS
| Q4 25 | 10.4% | 17.3% | ||
| Q3 25 | -26.0% | 14.5% | ||
| Q2 25 | 21.3% | 11.6% | ||
| Q1 25 | -10.7% | 2.4% | ||
| Q4 24 | 7.9% | 24.2% | ||
| Q3 24 | -58.8% | 10.8% | ||
| Q2 24 | 41.1% | 13.4% | ||
| Q1 24 | -9.4% | -11.6% |
资本支出强度BNEDCSGS
| Q4 25 | 0.7% | 1.1% | ||
| Q3 25 | 1.4% | 1.3% | ||
| Q2 25 | 1.3% | 0.9% | ||
| Q1 25 | 0.7% | 1.5% | ||
| Q4 24 | 0.5% | 1.9% | ||
| Q3 24 | 1.6% | 2.5% | ||
| Q2 24 | 1.4% | 1.5% | ||
| Q1 24 | 0.8% | 1.6% |
现金转化率BNEDCSGS
| Q4 25 | 2.65× | 8.46× | ||
| Q3 25 | — | 2.34× | ||
| Q2 25 | — | 3.04× | ||
| Q1 25 | -2.34× | 0.71× | ||
| Q4 24 | 1.10× | 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
BNED
| Course Materials Product | $459.3M | 77% |
| General Merchandise Product | $112.9M | 19% |
| Serviceand Other | $26.1M | 4% |
CSGS
| Software As A Service And Related Solutions | $287.2M | 89% |
| License And Service | $22.6M | 7% |
| Maintenance | $13.3M | 4% |
