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Cadre Holdings, Inc.（CDRE）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Cadre Holdings, Inc.的1.9倍（$323.1M vs $167.2M），Cadre Holdings, Inc.净利率更高（7.0% vs 2.2%，领先4.9%），南玻集团同比增速更快（2.0% vs -5.0%），南玻集团自由现金流更多（$55.8M vs $18.0M），过去两年Cadre Holdings, Inc.的营收复合增速更高（10.1% vs 4.6%）
Cadre Holdings, Inc.是美国金融科技企业，面向个人及机构客户提供房地产投资项目直投渠道，覆盖纽约等地的商业地产。公司打造的投资平台支持投资者自主选择参与的具体交易项目，且投资门槛远低于全额收购物业所需资金，让不动产投资变得更接近股票交易，获得财经媒体的广泛认可。
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。
CDRE vs CSGS — 直观对比
营收规模更大
CSGS
是对方的1.9倍
$167.2M
营收增速更快
CSGS
高出7.0%
-5.0%
净利率更高
CDRE
高出4.9%
2.2%
自由现金流更多
CSGS
多$37.8M
$18.0M
两年增速更快
CDRE
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $167.2M | $323.1M |
| 净利润 | $11.7M | $7.0M |
| 毛利率 | 43.4% | 50.0% |
| 营业利润率 | 12.2% | 9.0% |
| 净利率 | 7.0% | 2.2% |
| 营收同比 | -5.0% | 2.0% |
| 净利润同比 | -9.6% | -79.7% |
| 每股收益（稀释后） | $0.22 | $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CDRECSGS
| Q4 25 | $167.2M | $323.1M | ||
| Q3 25 | $155.9M | $303.6M | ||
| Q2 25 | $157.1M | $297.1M | ||
| Q1 25 | $130.1M | $299.5M | ||
| Q4 24 | $176.0M | $316.7M | ||
| Q3 24 | $109.4M | $295.1M | ||
| Q2 24 | $144.3M | $290.3M | ||
| Q1 24 | $137.9M | $295.1M |
净利润CDRECSGS
| Q4 25 | $11.7M | $7.0M | ||
| Q3 25 | $10.9M | $20.5M | ||
| Q2 25 | $12.2M | $12.3M | ||
| Q1 25 | $9.2M | $16.1M | ||
| Q4 24 | $13.0M | $34.5M | ||
| Q3 24 | $3.7M | $19.1M | ||
| Q2 24 | $12.6M | $13.8M | ||
| Q1 24 | $6.9M | $19.5M |
毛利率CDRECSGS
| Q4 25 | 43.4% | 50.0% | ||
| Q3 25 | 42.7% | 48.1% | ||
| Q2 25 | 40.9% | 49.5% | ||
| Q1 25 | 43.1% | 48.4% | ||
| Q4 24 | 43.9% | 51.3% | ||
| Q3 24 | 36.6% | 49.4% | ||
| Q2 24 | 40.6% | 47.3% | ||
| Q1 24 | 41.8% | 46.5% |
营业利润率CDRECSGS
| Q4 25 | 12.2% | 9.0% | ||
| Q3 25 | 12.0% | 10.0% | ||
| Q2 25 | 9.3% | 10.0% | ||
| Q1 25 | 10.4% | 9.8% | ||
| Q4 24 | 16.7% | 13.4% | ||
| Q3 24 | 5.0% | 10.8% | ||
| Q2 24 | 13.8% | 8.8% | ||
| Q1 24 | 8.7% | 10.8% |
净利率CDRECSGS
| Q4 25 | 7.0% | 2.2% | ||
| Q3 25 | 7.0% | 6.7% | ||
| Q2 25 | 7.8% | 4.1% | ||
| Q1 25 | 7.1% | 5.4% | ||
| Q4 24 | 7.4% | 10.9% | ||
| Q3 24 | 3.3% | 6.5% | ||
| Q2 24 | 8.7% | 4.8% | ||
| Q1 24 | 5.0% | 6.6% |
每股收益（稀释后）CDRECSGS
| Q4 25 | $0.22 | $0.24 | ||
| Q3 25 | $0.27 | $0.73 | ||
| Q2 25 | $0.30 | $0.44 | ||
| Q1 25 | $0.23 | $0.57 | ||
| Q4 24 | $0.32 | $1.20 | ||
| Q3 24 | $0.09 | $0.67 | ||
| Q2 24 | $0.31 | $0.48 | ||
| Q1 24 | $0.18 | $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 | $122.9M | $180.0M |
| 总债务越低越好 | — | $539.5M |
| 股东权益账面价值 | $317.8M | $283.7M |
| 总资产 | $770.0M | $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CDRECSGS
| Q4 25 | $122.9M | $180.0M | ||
| Q3 25 | $150.9M | $158.4M | ||
| Q2 25 | $137.5M | $145.9M | ||
| Q1 25 | $133.4M | $136.0M | ||
| Q4 24 | $124.9M | $161.8M | ||
| Q3 24 | $93.0M | $118.4M | ||
| Q2 24 | $105.9M | $110.4M | ||
| Q1 24 | $87.1M | $120.8M |
总债务CDRECSGS
| 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 | ||
| Q1 24 | — | $541.5M |
股东权益CDRECSGS
| Q4 25 | $317.8M | $283.7M | ||
| Q3 25 | $340.4M | $289.5M | ||
| Q2 25 | $332.5M | $290.7M | ||
| Q1 25 | $317.6M | $283.1M | ||
| Q4 24 | $311.5M | $282.6M | ||
| Q3 24 | $300.3M | $288.4M | ||
| Q2 24 | $299.4M | $273.3M | ||
| Q1 24 | $270.7M | $269.3M |
总资产CDRECSGS
| Q4 25 | $770.0M | $1.5B | ||
| Q3 25 | $792.1M | $1.5B | ||
| Q2 25 | $794.4M | $1.4B | ||
| Q1 25 | $656.3M | $1.4B | ||
| Q4 24 | $652.7M | $1.5B | ||
| Q3 24 | $616.6M | $1.4B | ||
| Q2 24 | $620.6M | $1.4B | ||
| Q1 24 | $599.4M | $1.3B |
负债/权益比CDRECSGS
| 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× | ||
| 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 | $21.3M | $59.2M |
| 自由现金流经营现金流 - 资本支出 | $18.0M | $55.8M |
| 自由现金流率自由现金流/营收 | 10.7% | 17.3% |
| 资本支出强度资本支出/营收 | 2.0% | 1.1% |
| 现金转化率经营现金流/净利润 | 1.81× | 8.46× |
| 过去12个月自由现金流最近4个季度 | $56.8M | $141.4M |
8季度趋势，按日历期对齐
经营现金流CDRECSGS
| Q4 25 | $21.3M | $59.2M | ||
| Q3 25 | $22.5M | $47.9M | ||
| Q2 25 | $2.6M | $37.3M | ||
| Q1 25 | $17.4M | $11.5M | ||
| Q4 24 | $23.7M | $82.5M | ||
| Q3 24 | $-5.2M | $39.5M | ||
| Q2 24 | $11.1M | $43.1M | ||
| Q1 24 | $2.1M | $-29.4M |
自由现金流CDRECSGS
| Q4 25 | $18.0M | $55.8M | ||
| Q3 25 | $21.6M | $43.9M | ||
| Q2 25 | $1.2M | $34.6M | ||
| Q1 25 | $16.1M | $7.1M | ||
| Q4 24 | $22.4M | $76.6M | ||
| Q3 24 | $-6.2M | $32.0M | ||
| Q2 24 | $9.1M | $38.8M | ||
| Q1 24 | $794.0K | $-34.1M |
自由现金流率CDRECSGS
| Q4 25 | 10.7% | 17.3% | ||
| Q3 25 | 13.9% | 14.5% | ||
| Q2 25 | 0.7% | 11.6% | ||
| Q1 25 | 12.4% | 2.4% | ||
| Q4 24 | 12.7% | 24.2% | ||
| Q3 24 | -5.7% | 10.8% | ||
| Q2 24 | 6.3% | 13.4% | ||
| Q1 24 | 0.6% | -11.6% |
资本支出强度CDRECSGS
| Q4 25 | 2.0% | 1.1% | ||
| Q3 25 | 0.5% | 1.3% | ||
| Q2 25 | 0.9% | 0.9% | ||
| Q1 25 | 1.0% | 1.5% | ||
| Q4 24 | 0.7% | 1.9% | ||
| Q3 24 | 0.9% | 2.5% | ||
| Q2 24 | 1.4% | 1.5% | ||
| Q1 24 | 1.0% | 1.6% |
现金转化率CDRECSGS
| Q4 25 | 1.81× | 8.46× | ||
| Q3 25 | 2.05× | 2.34× | ||
| Q2 25 | 0.21× | 3.04× | ||
| Q1 25 | 1.88× | 0.71× | ||
| Q4 24 | 1.83× | 2.39× | ||
| Q3 24 | -1.43× | 2.07× | ||
| Q2 24 | 0.89× | 3.12× | ||
| Q1 24 | 0.31× | -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
CDRE
| U.s.state And Local Agencies | $72.7M | 43% |
| Other | $48.6M | 29% |
| U.s.Federal Agencies | $31.6M | 19% |
| Commercial | $12.0M | 7% |
CSGS
| Software As A Service And Related Solutions | $287.2M | 89% |
| License And Service | $22.6M | 7% |
| Maintenance | $13.3M | 4% |
