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CBIZ, Inc.（CBZ）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
CBIZ, Inc.的季度营收约是南玻集团的2.6倍（$848.6M vs $323.1M），CBIZ, Inc.净利率更高（19.0% vs 2.2%，领先16.9%），南玻集团同比增速更快（2.0% vs 1.3%），南玻集团自由现金流更多（$55.8M vs $-28.5M），过去两年CBIZ, Inc.的营收复合增速更高（42.1% vs 4.6%）
CBIZ, Inc.是美国知名的金融、保险及咨询服务提供商，总部位于俄亥俄州独立市，为美国规模最大的会计、保险经纪、金融与咨询服务机构之一。集团在全美设有120多个办事处，拥有近7000名员工，1996年起在纽交所上市，1997年起使用股票代码CBZ交易。
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。
CBZ vs CSGS — 直观对比
营收规模更大
CBZ
是对方的2.6倍
$323.1M
营收增速更快
CSGS
高出0.8%
1.3%
净利率更高
CBZ
高出16.9%
2.2%
自由现金流更多
CSGS
多$84.3M
$-28.5M
两年增速更快
CBZ
近两年复合增速
4.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $848.6M | $323.1M |
| 净利润 | $161.6M | $7.0M |
| 毛利率 | — | 50.0% |
| 营业利润率 | 23.2% | 9.0% |
| 净利率 | 19.0% | 2.2% |
| 营收同比 | 1.3% | 2.0% |
| 净利润同比 | — | -79.7% |
| 每股收益（稀释后） | $2.63 | $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CBZCSGS
| Q1 26 | $848.6M | — | ||
| Q4 25 | $542.7M | $323.1M | ||
| Q3 25 | $693.8M | $303.6M | ||
| Q2 25 | $683.5M | $297.1M | ||
| Q1 25 | $838.0M | $299.5M | ||
| Q4 24 | $460.3M | $316.7M | ||
| Q3 24 | $438.9M | $295.1M | ||
| Q2 24 | $420.0M | $290.3M |
净利润CBZCSGS
| Q1 26 | $161.6M | — | ||
| Q4 25 | $-79.4M | $7.0M | ||
| Q3 25 | $30.1M | $20.5M | ||
| Q2 25 | $41.9M | $12.3M | ||
| Q1 25 | $122.8M | $16.1M | ||
| Q4 24 | $-90.7M | $34.5M | ||
| Q3 24 | $35.1M | $19.1M | ||
| Q2 24 | $19.8M | $13.8M |
毛利率CBZCSGS
| Q1 26 | — | — | ||
| Q4 25 | -9.4% | 50.0% | ||
| Q3 25 | 13.0% | 48.1% | ||
| Q2 25 | 12.9% | 49.5% | ||
| Q1 25 | 27.2% | 48.4% | ||
| Q4 24 | -13.4% | 51.3% | ||
| Q3 24 | 16.6% | 49.4% | ||
| Q2 24 | 12.8% | 47.3% |
营业利润率CBZCSGS
| Q1 26 | 23.2% | — | ||
| Q4 25 | -15.7% | 9.0% | ||
| Q3 25 | 8.5% | 10.0% | ||
| Q2 25 | 8.8% | 10.0% | ||
| Q1 25 | 23.9% | 9.8% | ||
| Q4 24 | -23.2% | 13.4% | ||
| Q3 24 | 11.3% | 10.8% | ||
| Q2 24 | 7.5% | 8.8% |
净利率CBZCSGS
| Q1 26 | 19.0% | — | ||
| Q4 25 | -14.6% | 2.2% | ||
| Q3 25 | 4.3% | 6.7% | ||
| Q2 25 | 6.1% | 4.1% | ||
| Q1 25 | 14.7% | 5.4% | ||
| Q4 24 | -19.7% | 10.9% | ||
| Q3 24 | 8.0% | 6.5% | ||
| Q2 24 | 4.7% | 4.8% |
每股收益（稀释后）CBZCSGS
| Q1 26 | $2.63 | — | ||
| Q4 25 | $-1.22 | $0.24 | ||
| Q3 25 | $0.48 | $0.73 | ||
| Q2 25 | $0.66 | $0.44 | ||
| Q1 25 | $1.91 | $0.57 | ||
| Q4 24 | $-1.84 | $1.20 | ||
| Q3 24 | $0.70 | $0.67 | ||
| Q2 24 | $0.39 | $0.48 |
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 | $28.7M | $180.0M |
| 总债务越低越好 | — | $539.5M |
| 股东权益账面价值 | $1.9B | $283.7M |
| 总资产 | $4.6B | $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CBZCSGS
| Q1 26 | $28.7M | — | ||
| Q4 25 | $18.3M | $180.0M | ||
| Q3 25 | $17.0M | $158.4M | ||
| Q2 25 | $39.8M | $145.9M | ||
| Q1 25 | $8.8M | $136.0M | ||
| Q4 24 | $13.8M | $161.8M | ||
| Q3 24 | $1.1M | $118.4M | ||
| Q2 24 | $1.1M | $110.4M |
总债务CBZCSGS
| Q1 26 | — | — | ||
| 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 |
股东权益CBZCSGS
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.8B | $283.7M | ||
| Q3 25 | $1.9B | $289.5M | ||
| Q2 25 | $1.9B | $290.7M | ||
| Q1 25 | $1.9B | $283.1M | ||
| Q4 24 | $1.8B | $282.6M | ||
| Q3 24 | $927.9M | $288.4M | ||
| Q2 24 | $891.4M | $273.3M |
总资产CBZCSGS
| Q1 26 | $4.6B | — | ||
| Q4 25 | $4.4B | $1.5B | ||
| Q3 25 | $4.5B | $1.5B | ||
| Q2 25 | $4.5B | $1.4B | ||
| Q1 25 | $4.6B | $1.4B | ||
| Q4 24 | $4.5B | $1.5B | ||
| Q3 24 | $2.1B | $1.4B | ||
| Q2 24 | $2.2B | $1.4B |
负债/权益比CBZCSGS
| Q1 26 | — | — | ||
| 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× |
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 | $-25.5M | $59.2M |
| 自由现金流经营现金流 - 资本支出 | $-28.5M | $55.8M |
| 自由现金流率自由现金流/营收 | -3.4% | 17.3% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 现金转化率经营现金流/净利润 | -0.16× | 8.46× |
| 过去12个月自由现金流最近4个季度 | $240.5M | $141.4M |
8季度趋势，按日历期对齐
经营现金流CBZCSGS
| Q1 26 | $-25.5M | — | ||
| Q4 25 | $143.6M | $59.2M | ||
| Q3 25 | $24.0M | $47.9M | ||
| Q2 25 | $113.1M | $37.3M | ||
| Q1 25 | $-88.3M | $11.5M | ||
| Q4 24 | $55.5M | $82.5M | ||
| Q3 24 | $43.7M | $39.5M | ||
| Q2 24 | $88.2M | $43.1M |
自由现金流CBZCSGS
| Q1 26 | $-28.5M | — | ||
| Q4 25 | $141.7M | $55.8M | ||
| Q3 25 | $22.1M | $43.9M | ||
| Q2 25 | $105.2M | $34.6M | ||
| Q1 25 | $-93.4M | $7.1M | ||
| Q4 24 | $52.3M | $76.6M | ||
| Q3 24 | $41.1M | $32.0M | ||
| Q2 24 | $86.3M | $38.8M |
自由现金流率CBZCSGS
| Q1 26 | -3.4% | — | ||
| Q4 25 | 26.1% | 17.3% | ||
| Q3 25 | 3.2% | 14.5% | ||
| Q2 25 | 15.4% | 11.6% | ||
| Q1 25 | -11.2% | 2.4% | ||
| Q4 24 | 11.4% | 24.2% | ||
| Q3 24 | 9.4% | 10.8% | ||
| Q2 24 | 20.5% | 13.4% |
资本支出强度CBZCSGS
| Q1 26 | — | — | ||
| Q4 25 | 0.4% | 1.1% | ||
| Q3 25 | 0.3% | 1.3% | ||
| Q2 25 | 1.2% | 0.9% | ||
| Q1 25 | 0.6% | 1.5% | ||
| Q4 24 | 0.7% | 1.9% | ||
| Q3 24 | 0.6% | 2.5% | ||
| Q2 24 | 0.4% | 1.5% |
现金转化率CBZCSGS
| Q1 26 | -0.16× | — | ||
| Q4 25 | — | 8.46× | ||
| Q3 25 | 0.79× | 2.34× | ||
| Q2 25 | 2.70× | 3.04× | ||
| Q1 25 | -0.72× | 0.71× | ||
| Q4 24 | — | 2.39× | ||
| Q3 24 | 1.25× | 2.07× | ||
| Q2 24 | 4.45× | 3.12× |
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
CBZ
| Financial Services (1) | $740.3M | 87% |
| Benefits and Insurance Services | $108.2M | 13% |
CSGS
| Software As A Service And Related Solutions | $287.2M | 89% |
| License And Service | $22.6M | 7% |
| Maintenance | $13.3M | 4% |
