vs
COPT DEFENSE PROPERTIES（CDP）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
南玻集团的季度营收约是COPT DEFENSE PROPERTIES的1.6倍（$323.1M vs $197.4M），COPT DEFENSE PROPERTIES净利率更高（20.0% vs 2.2%，领先17.8%），COPT DEFENSE PROPERTIES同比增速更快（7.6% vs 2.0%），COPT DEFENSE PROPERTIES自由现金流更多（$288.9M vs $55.8M），过去两年南玻集团的营收复合增速更高（4.6% vs 1.1%）
COPT Defense Properties是一家专业房地产投资信托基金，重点投资写字楼物业，资产主要布局于华盛顿大都会区的近郊区域，核心租户为美国政府及国防军工行业企业。截至2024年12月31日，公司旗下共持有164栋写字楼，总面积达1650万平方英尺，同时运营31个单租户数据中心，总面积590万平方英尺。
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。
CDP vs CSGS — 直观对比
营收规模更大
CSGS
是对方的1.6倍
$197.4M
营收增速更快
CDP
高出5.6%
2.0%
净利率更高
CDP
高出17.8%
2.2%
自由现金流更多
CDP
多$233.1M
$55.8M
两年增速更快
CSGS
近两年复合增速
1.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $197.4M | $323.1M |
| 净利润 | $39.4M | $7.0M |
| 毛利率 | — | 50.0% |
| 营业利润率 | 19.9% | 9.0% |
| 净利率 | 20.0% | 2.2% |
| 营收同比 | 7.6% | 2.0% |
| 净利润同比 | 8.0% | -79.7% |
| 每股收益（稀释后） | $0.32 | $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CDPCSGS
| Q4 25 | $197.4M | $323.1M | ||
| Q3 25 | $188.8M | $303.6M | ||
| Q2 25 | $189.9M | $297.1M | ||
| Q1 25 | $187.9M | $299.5M | ||
| Q4 24 | $183.4M | $316.7M | ||
| Q3 24 | $189.2M | $295.1M | ||
| Q2 24 | $187.3M | $290.3M | ||
| Q1 24 | $193.3M | $295.1M |
净利润CDPCSGS
| Q4 25 | $39.4M | $7.0M | ||
| Q3 25 | $43.7M | $20.5M | ||
| Q2 25 | $40.2M | $12.3M | ||
| Q1 25 | $36.2M | $16.1M | ||
| Q4 24 | $36.5M | $34.5M | ||
| Q3 24 | $37.4M | $19.1M | ||
| Q2 24 | $36.4M | $13.8M | ||
| Q1 24 | $33.7M | $19.5M |
毛利率CDPCSGS
| 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CDPCSGS
| Q4 25 | 19.9% | 9.0% | ||
| Q3 25 | 22.5% | 10.0% | ||
| Q2 25 | 21.0% | 10.0% | ||
| Q1 25 | 19.1% | 9.8% | ||
| Q4 24 | 19.7% | 13.4% | ||
| Q3 24 | 19.8% | 10.8% | ||
| Q2 24 | 19.4% | 8.8% | ||
| Q1 24 | 17.5% | 10.8% |
净利率CDPCSGS
| Q4 25 | 20.0% | 2.2% | ||
| Q3 25 | 23.2% | 6.7% | ||
| Q2 25 | 21.1% | 4.1% | ||
| Q1 25 | 19.3% | 5.4% | ||
| Q4 24 | 19.9% | 10.9% | ||
| Q3 24 | 19.8% | 6.5% | ||
| Q2 24 | 19.4% | 4.8% | ||
| Q1 24 | 17.4% | 6.6% |
每股收益（稀释后）CDPCSGS
| Q4 25 | $0.32 | $0.24 | ||
| Q3 25 | $0.37 | $0.73 | ||
| Q2 25 | $0.34 | $0.44 | ||
| Q1 25 | $0.31 | $0.57 | ||
| Q4 24 | $0.31 | $1.20 | ||
| Q3 24 | $0.32 | $0.67 | ||
| Q2 24 | $0.31 | $0.48 | ||
| Q1 24 | $0.29 | $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 | $275.0M | $180.0M |
| 总债务越低越好 | $2.8B | $539.5M |
| 股东权益账面价值 | $1.5B | $283.7M |
| 总资产 | $4.7B | $1.5B |
| 负债/权益比越低杠杆越低 | 1.83× | 1.90× |
8季度趋势，按日历期对齐
现金及短期投资CDPCSGS
| Q4 25 | $275.0M | $180.0M | ||
| Q3 25 | $23.7M | $158.4M | ||
| Q2 25 | $21.3M | $145.9M | ||
| Q1 25 | $24.3M | $136.0M | ||
| Q4 24 | $38.3M | $161.8M | ||
| Q3 24 | $34.5M | $118.4M | ||
| Q2 24 | $100.4M | $110.4M | ||
| Q1 24 | $123.1M | $120.8M |
总债务CDPCSGS
| Q4 25 | $2.8B | $539.5M | ||
| Q3 25 | $2.4B | $538.6M | ||
| Q2 25 | $2.4B | $537.8M | ||
| Q1 25 | $2.4B | $537.6M | ||
| Q4 24 | $2.4B | $538.5M | ||
| Q3 24 | $2.4B | $539.5M | ||
| Q2 24 | $2.4B | $540.5M | ||
| Q1 24 | $2.4B | $541.5M |
股东权益CDPCSGS
| Q4 25 | $1.5B | $283.7M | ||
| Q3 25 | $1.5B | $289.5M | ||
| Q2 25 | $1.5B | $290.7M | ||
| Q1 25 | $1.5B | $283.1M | ||
| Q4 24 | $1.5B | $282.6M | ||
| Q3 24 | $1.5B | $288.4M | ||
| Q2 24 | $1.5B | $273.3M | ||
| Q1 24 | $1.5B | $269.3M |
总资产CDPCSGS
| Q4 25 | $4.7B | $1.5B | ||
| Q3 25 | $4.4B | $1.5B | ||
| Q2 25 | $4.3B | $1.4B | ||
| Q1 25 | $4.3B | $1.4B | ||
| Q4 24 | $4.3B | $1.5B | ||
| Q3 24 | $4.2B | $1.4B | ||
| Q2 24 | $4.2B | $1.4B | ||
| Q1 24 | $4.2B | $1.3B |
负债/权益比CDPCSGS
| Q4 25 | 1.83× | 1.90× | ||
| Q3 25 | 1.62× | 1.86× | ||
| Q2 25 | 1.63× | 1.85× | ||
| Q1 25 | 1.62× | 1.90× | ||
| Q4 24 | 1.60× | 1.91× | ||
| Q3 24 | 1.61× | 1.87× | ||
| Q2 24 | 1.61× | 1.98× | ||
| Q1 24 | 1.63× | 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 | $309.9M | $59.2M |
| 自由现金流经营现金流 - 资本支出 | $288.9M | $55.8M |
| 自由现金流率自由现金流/营收 | 146.4% | 17.3% |
| 资本支出强度资本支出/营收 | 10.7% | 1.1% |
| 现金转化率经营现金流/净利润 | 7.87× | 8.46× |
| 过去12个月自由现金流最近4个季度 | $501.5M | $141.4M |
8季度趋势，按日历期对齐
经营现金流CDPCSGS
| Q4 25 | $309.9M | $59.2M | ||
| Q3 25 | $68.6M | $47.9M | ||
| Q2 25 | $87.9M | $37.3M | ||
| Q1 25 | $72.1M | $11.5M | ||
| Q4 24 | $331.0M | $82.5M | ||
| Q3 24 | $65.1M | $39.5M | ||
| Q2 24 | $93.8M | $43.1M | ||
| Q1 24 | $71.0M | $-29.4M |
自由现金流CDPCSGS
| Q4 25 | $288.9M | $55.8M | ||
| Q3 25 | $62.9M | $43.9M | ||
| Q2 25 | $84.5M | $34.6M | ||
| Q1 25 | $65.1M | $7.1M | ||
| Q4 24 | $299.6M | $76.6M | ||
| Q3 24 | $61.0M | $32.0M | ||
| Q2 24 | $88.4M | $38.8M | ||
| Q1 24 | $57.9M | $-34.1M |
自由现金流率CDPCSGS
| Q4 25 | 146.4% | 17.3% | ||
| Q3 25 | 33.3% | 14.5% | ||
| Q2 25 | 44.5% | 11.6% | ||
| Q1 25 | 34.7% | 2.4% | ||
| Q4 24 | 163.3% | 24.2% | ||
| Q3 24 | 32.3% | 10.8% | ||
| Q2 24 | 47.2% | 13.4% | ||
| Q1 24 | 30.0% | -11.6% |
资本支出强度CDPCSGS
| Q4 25 | 10.7% | 1.1% | ||
| Q3 25 | 3.0% | 1.3% | ||
| Q2 25 | 1.8% | 0.9% | ||
| Q1 25 | 3.7% | 1.5% | ||
| Q4 24 | 17.1% | 1.9% | ||
| Q3 24 | 2.1% | 2.5% | ||
| Q2 24 | 2.9% | 1.5% | ||
| Q1 24 | 6.8% | 1.6% |
现金转化率CDPCSGS
| Q4 25 | 7.87× | 8.46× | ||
| Q3 25 | 1.57× | 2.34× | ||
| Q2 25 | 2.19× | 3.04× | ||
| Q1 25 | 1.99× | 0.71× | ||
| Q4 24 | 9.08× | 2.39× | ||
| Q3 24 | 1.74× | 2.07× | ||
| Q2 24 | 2.58× | 3.12× | ||
| Q1 24 | 2.11× | -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
CDP
暂无分部数据
CSGS
| Software As A Service And Related Solutions | $287.2M | 89% |
| License And Service | $22.6M | 7% |
| Maintenance | $13.3M | 4% |
