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BRADY CORP（BRC）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
BRADY CORP的季度营收约是南玻集团的1.3倍（$405.3M vs $323.1M），BRADY CORP净利率更高（13.3% vs 2.2%，领先11.1%），BRADY CORP同比增速更快（7.5% vs 2.0%），南玻集团自由现金流更多（$55.8M vs $22.4M），过去两年BRADY CORP的营收复合增速更高（12.1% vs 4.6%）
布雷迪公司是美国特种产品、技术设备及标识解决方案供应商，1914年创立，总部位于威斯康星州密尔沃基，在美洲、欧洲、亚洲、澳洲拥有6600名员工，业务覆盖全球，为各行业客户提供工作场景所需的零部件标识相关产品与服务。
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。
BRC vs CSGS — 直观对比
营收规模更大
BRC
是对方的1.3倍
$323.1M
营收增速更快
BRC
高出5.5%
2.0%
净利率更高
BRC
高出11.1%
2.2%
自由现金流更多
CSGS
多$33.4M
$22.4M
两年增速更快
BRC
近两年复合增速
4.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $405.3M | $323.1M |
| 净利润 | $53.9M | $7.0M |
| 毛利率 | 51.5% | 50.0% |
| 营业利润率 | 16.8% | 9.0% |
| 净利率 | 13.3% | 2.2% |
| 营收同比 | 7.5% | 2.0% |
| 净利润同比 | 15.3% | -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BRCCSGS
| Q4 25 | $405.3M | $323.1M | ||
| Q3 25 | $397.3M | $303.6M | ||
| Q2 25 | $382.6M | $297.1M | ||
| Q1 25 | $356.7M | $299.5M | ||
| Q4 24 | $377.1M | $316.7M | ||
| Q3 24 | $343.4M | $295.1M | ||
| Q2 24 | $343.4M | $290.3M | ||
| Q1 24 | $322.6M | $295.1M |
净利润BRCCSGS
| Q4 25 | $53.9M | $7.0M | ||
| Q3 25 | $49.9M | $20.5M | ||
| Q2 25 | $52.3M | $12.3M | ||
| Q1 25 | $40.3M | $16.1M | ||
| Q4 24 | $46.8M | $34.5M | ||
| Q3 24 | $55.5M | $19.1M | ||
| Q2 24 | $50.9M | $13.8M | ||
| Q1 24 | $43.6M | $19.5M |
毛利率BRCCSGS
| Q4 25 | 51.5% | 50.0% | ||
| Q3 25 | 50.4% | 48.1% | ||
| Q2 25 | 51.0% | 49.5% | ||
| Q1 25 | 49.3% | 48.4% | ||
| Q4 24 | 50.3% | 51.3% | ||
| Q3 24 | 51.6% | 49.4% | ||
| Q2 24 | 51.6% | 47.3% | ||
| Q1 24 | 50.2% | 46.5% |
营业利润率BRCCSGS
| Q4 25 | 16.8% | 9.0% | ||
| Q3 25 | 14.9% | 10.0% | ||
| Q2 25 | 17.6% | 10.0% | ||
| Q1 25 | 14.4% | 9.8% | ||
| Q4 24 | 15.6% | 13.4% | ||
| Q3 24 | 19.3% | 10.8% | ||
| Q2 24 | 18.5% | 8.8% | ||
| Q1 24 | 16.7% | 10.8% |
净利率BRCCSGS
| Q4 25 | 13.3% | 2.2% | ||
| Q3 25 | 12.6% | 6.7% | ||
| Q2 25 | 13.7% | 4.1% | ||
| Q1 25 | 11.3% | 5.4% | ||
| Q4 24 | 12.4% | 10.9% | ||
| Q3 24 | 16.1% | 6.5% | ||
| Q2 24 | 14.8% | 4.8% | ||
| Q1 24 | 13.5% | 6.6% |
每股收益（稀释后）BRCCSGS
| 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 | $182.7M | $180.0M |
| 总债务越低越好 | $115.9M | $539.5M |
| 股东权益账面价值 | $1.2B | $283.7M |
| 总资产 | $1.8B | $1.5B |
| 负债/权益比越低杠杆越低 | 0.09× | 1.90× |
8季度趋势，按日历期对齐
现金及短期投资BRCCSGS
| Q4 25 | $182.7M | $180.0M | ||
| Q3 25 | $174.3M | $158.4M | ||
| Q2 25 | $152.2M | $145.9M | ||
| Q1 25 | $138.5M | $136.0M | ||
| Q4 24 | $145.7M | $161.8M | ||
| Q3 24 | $250.1M | $118.4M | ||
| Q2 24 | $160.5M | $110.4M | ||
| Q1 24 | $143.9M | $120.8M |
总债务BRCCSGS
| Q4 25 | $115.9M | $539.5M | ||
| Q3 25 | $99.8M | $538.6M | ||
| Q2 25 | — | $537.8M | ||
| Q1 25 | — | $537.6M | ||
| Q4 24 | — | $538.5M | ||
| Q3 24 | $90.9M | $539.5M | ||
| Q2 24 | — | $540.5M | ||
| Q1 24 | — | $541.5M |
股东权益BRCCSGS
| Q4 25 | $1.2B | $283.7M | ||
| Q3 25 | $1.2B | $289.5M | ||
| Q2 25 | $1.2B | $290.7M | ||
| Q1 25 | $1.1B | $283.1M | ||
| Q4 24 | $1.1B | $282.6M | ||
| Q3 24 | $1.1B | $288.4M | ||
| Q2 24 | $1.0B | $273.3M | ||
| Q1 24 | $1.0B | $269.3M |
总资产BRCCSGS
| Q4 25 | $1.8B | $1.5B | ||
| Q3 25 | $1.7B | $1.5B | ||
| Q2 25 | $1.7B | $1.4B | ||
| Q1 25 | $1.6B | $1.4B | ||
| Q4 24 | $1.6B | $1.5B | ||
| Q3 24 | $1.5B | $1.4B | ||
| Q2 24 | $1.4B | $1.4B | ||
| Q1 24 | $1.4B | $1.3B |
负债/权益比BRCCSGS
| Q4 25 | 0.09× | 1.90× | ||
| Q3 25 | 0.08× | 1.86× | ||
| Q2 25 | — | 1.85× | ||
| Q1 25 | — | 1.90× | ||
| Q4 24 | — | 1.91× | ||
| Q3 24 | 0.09× | 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 | $33.4M | $59.2M |
| 自由现金流经营现金流 - 资本支出 | $22.4M | $55.8M |
| 自由现金流率自由现金流/营收 | 5.5% | 17.3% |
| 资本支出强度资本支出/营收 | 2.7% | 1.1% |
| 现金转化率经营现金流/净利润 | 0.62× | 8.46× |
| 过去12个月自由现金流最近4个季度 | $159.9M | $141.4M |
8季度趋势，按日历期对齐
经营现金流BRCCSGS
| Q4 25 | $33.4M | $59.2M | ||
| Q3 25 | $58.3M | $47.9M | ||
| Q2 25 | $59.9M | $37.3M | ||
| Q1 25 | $39.6M | $11.5M | ||
| Q4 24 | $23.4M | $82.5M | ||
| Q3 24 | $84.0M | $39.5M | ||
| Q2 24 | $72.7M | $43.1M | ||
| Q1 24 | $36.1M | $-29.4M |
自由现金流BRCCSGS
| Q4 25 | $22.4M | $55.8M | ||
| Q3 25 | $49.4M | $43.9M | ||
| Q2 25 | $55.6M | $34.6M | ||
| Q1 25 | $32.5M | $7.1M | ||
| Q4 24 | $16.1M | $76.6M | ||
| Q3 24 | $73.2M | $32.0M | ||
| Q2 24 | $64.4M | $38.8M | ||
| Q1 24 | $-13.5M | $-34.1M |
自由现金流率BRCCSGS
| Q4 25 | 5.5% | 17.3% | ||
| Q3 25 | 12.4% | 14.5% | ||
| Q2 25 | 14.5% | 11.6% | ||
| Q1 25 | 9.1% | 2.4% | ||
| Q4 24 | 4.3% | 24.2% | ||
| Q3 24 | 21.3% | 10.8% | ||
| Q2 24 | 18.8% | 13.4% | ||
| Q1 24 | -4.2% | -11.6% |
资本支出强度BRCCSGS
| Q4 25 | 2.7% | 1.1% | ||
| Q3 25 | 2.2% | 1.3% | ||
| Q2 25 | 1.1% | 0.9% | ||
| Q1 25 | 2.0% | 1.5% | ||
| Q4 24 | 1.9% | 1.9% | ||
| Q3 24 | 3.1% | 2.5% | ||
| Q2 24 | 2.4% | 1.5% | ||
| Q1 24 | 15.4% | 1.6% |
现金转化率BRCCSGS
| Q4 25 | 0.62× | 8.46× | ||
| Q3 25 | 1.17× | 2.34× | ||
| Q2 25 | 1.15× | 3.04× | ||
| Q1 25 | 0.98× | 0.71× | ||
| Q4 24 | 0.50× | 2.39× | ||
| Q3 24 | 1.51× | 2.07× | ||
| Q2 24 | 1.43× | 3.12× | ||
| Q1 24 | 0.83× | -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
BRC
| Americas Asia | $215.1M | 53% |
| Europe Australia | $119.9M | 30% |
| Other | $70.2M | 17% |
CSGS
| Software As A Service And Related Solutions | $287.2M | 89% |
| License And Service | $22.6M | 7% |
| Maintenance | $13.3M | 4% |
