vs
CLOVER HEALTH INVESTMENTS, CORP.（CLOV）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
CLOVER HEALTH INVESTMENTS, CORP.的季度营收约是南玻集团的1.5倍（$487.7M vs $323.1M），南玻集团净利率更高（2.2% vs -10.1%，领先12.3%），CLOVER HEALTH INVESTMENTS, CORP.同比增速更快（44.7% vs 2.0%），南玻集团自由现金流更多（$55.8M vs $-69.0M），过去两年CLOVER HEALTH INVESTMENTS, CORP.的营收复合增速更高（18.6% vs 4.6%）
克利弗健康投资公司是2014年成立的美国医疗保健企业，主营联邦医疗保险优势计划保险产品，是与美国政府直接签约合作的机构。目前公司为美国11个州的联邦医疗保险参保人提供健康管理服务，并已于2021年1月8日公开上市。
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。
CLOV vs CSGS — 直观对比
营收规模更大
CLOV
是对方的1.5倍
$323.1M
营收增速更快
CLOV
高出42.7%
2.0%
净利率更高
CSGS
高出12.3%
-10.1%
自由现金流更多
CSGS
多$124.8M
$-69.0M
两年增速更快
CLOV
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $487.7M | $323.1M |
| 净利润 | $-49.3M | $7.0M |
| 毛利率 | — | 50.0% |
| 营业利润率 | -10.1% | 9.0% |
| 净利率 | -10.1% | 2.2% |
| 营收同比 | 44.7% | 2.0% |
| 净利润同比 | -123.2% | -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CLOVCSGS
| Q4 25 | $487.7M | $323.1M | ||
| Q3 25 | $496.6M | $303.6M | ||
| Q2 25 | $477.6M | $297.1M | ||
| Q1 25 | $462.3M | $299.5M | ||
| Q4 24 | $337.0M | $316.7M | ||
| Q3 24 | $331.0M | $295.1M | ||
| Q2 24 | $356.3M | $290.3M | ||
| Q1 24 | $346.9M | $295.1M |
净利润CLOVCSGS
| Q4 25 | $-49.3M | $7.0M | ||
| Q3 25 | $-24.4M | $20.5M | ||
| Q2 25 | $-10.6M | $12.3M | ||
| Q1 25 | $-1.3M | $16.1M | ||
| Q4 24 | $-22.1M | $34.5M | ||
| Q3 24 | $-9.2M | $19.1M | ||
| Q2 24 | $7.4M | $13.8M | ||
| Q1 24 | $-19.2M | $19.5M |
毛利率CLOVCSGS
| Q4 25 | — | 50.0% | ||
| Q3 25 | — | 48.1% | ||
| Q2 25 | — | 49.5% | ||
| Q1 25 | — | 48.4% | ||
| Q4 24 | — | 51.3% | ||
| Q3 24 | 24.5% | 49.4% | ||
| Q2 24 | 30.3% | 47.3% | ||
| Q1 24 | 23.6% | 46.5% |
营业利润率CLOVCSGS
| Q4 25 | -10.1% | 9.0% | ||
| Q3 25 | -4.9% | 10.0% | ||
| Q2 25 | -2.2% | 10.0% | ||
| Q1 25 | -0.3% | 9.8% | ||
| Q4 24 | -6.4% | 13.4% | ||
| Q3 24 | -2.7% | 10.8% | ||
| Q2 24 | 2.0% | 8.8% | ||
| Q1 24 | -6.5% | 10.8% |
净利率CLOVCSGS
| Q4 25 | -10.1% | 2.2% | ||
| Q3 25 | -4.9% | 6.7% | ||
| Q2 25 | -2.2% | 4.1% | ||
| Q1 25 | -0.3% | 5.4% | ||
| Q4 24 | -6.6% | 10.9% | ||
| Q3 24 | -2.8% | 6.5% | ||
| Q2 24 | 2.1% | 4.8% | ||
| Q1 24 | -5.5% | 6.6% |
每股收益（稀释后）CLOVCSGS
| 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 | $78.3M | $180.0M |
| 总债务越低越好 | — | $539.5M |
| 股东权益账面价值 | $308.7M | $283.7M |
| 总资产 | $541.0M | $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CLOVCSGS
| Q4 25 | $78.3M | $180.0M | ||
| Q3 25 | — | $158.4M | ||
| Q2 25 | — | $145.9M | ||
| Q1 25 | — | $136.0M | ||
| Q4 24 | $194.5M | $161.8M | ||
| Q3 24 | $288.0M | $118.4M | ||
| Q2 24 | $254.8M | $110.4M | ||
| Q1 24 | $208.3M | $120.8M |
总债务CLOVCSGS
| 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CLOVCSGS
| Q4 25 | $308.7M | $283.7M | ||
| Q3 25 | $340.9M | $289.5M | ||
| Q2 25 | $344.2M | $290.7M | ||
| Q1 25 | $336.1M | $283.1M | ||
| Q4 24 | $341.1M | $282.6M | ||
| Q3 24 | $342.2M | $288.4M | ||
| Q2 24 | $324.9M | $273.3M | ||
| Q1 24 | $292.5M | $269.3M |
总资产CLOVCSGS
| Q4 25 | $541.0M | $1.5B | ||
| Q3 25 | $559.7M | $1.5B | ||
| Q2 25 | $575.0M | $1.4B | ||
| Q1 25 | $583.7M | $1.4B | ||
| Q4 24 | $580.7M | $1.5B | ||
| Q3 24 | $653.0M | $1.4B | ||
| Q2 24 | $674.2M | $1.4B | ||
| Q1 24 | $671.8M | $1.3B |
负债/权益比CLOVCSGS
| 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 | $-66.9M | $59.2M |
| 自由现金流经营现金流 - 资本支出 | $-69.0M | $55.8M |
| 自由现金流率自由现金流/营收 | -14.1% | 17.3% |
| 资本支出强度资本支出/营收 | 0.4% | 1.1% |
| 现金转化率经营现金流/净利润 | — | 8.46× |
| 过去12个月自由现金流最近4个季度 | $-69.2M | $141.4M |
8季度趋势，按日历期对齐
经营现金流CLOVCSGS
| Q4 25 | $-66.9M | $59.2M | ||
| Q3 25 | $12.1M | $47.9M | ||
| Q2 25 | $5.4M | $37.3M | ||
| Q1 25 | $-16.3M | $11.5M | ||
| Q4 24 | $34.8M | $82.5M | ||
| Q3 24 | $50.0M | $39.5M | ||
| Q2 24 | $44.8M | $43.1M | ||
| Q1 24 | $25.9M | $-29.4M |
自由现金流CLOVCSGS
| Q4 25 | $-69.0M | $55.8M | ||
| Q3 25 | $11.4M | $43.9M | ||
| Q2 25 | $4.8M | $34.6M | ||
| Q1 25 | $-16.5M | $7.1M | ||
| Q4 24 | $33.3M | $76.6M | ||
| Q3 24 | $49.6M | $32.0M | ||
| Q2 24 | $44.4M | $38.8M | ||
| Q1 24 | $25.5M | $-34.1M |
自由现金流率CLOVCSGS
| Q4 25 | -14.1% | 17.3% | ||
| Q3 25 | 2.3% | 14.5% | ||
| Q2 25 | 1.0% | 11.6% | ||
| Q1 25 | -3.6% | 2.4% | ||
| Q4 24 | 9.9% | 24.2% | ||
| Q3 24 | 15.0% | 10.8% | ||
| Q2 24 | 12.5% | 13.4% | ||
| Q1 24 | 7.3% | -11.6% |
资本支出强度CLOVCSGS
| Q4 25 | 0.4% | 1.1% | ||
| Q3 25 | 0.1% | 1.3% | ||
| Q2 25 | 0.1% | 0.9% | ||
| Q1 25 | 0.0% | 1.5% | ||
| Q4 24 | 0.5% | 1.9% | ||
| Q3 24 | 0.1% | 2.5% | ||
| Q2 24 | 0.1% | 1.5% | ||
| Q1 24 | 0.1% | 1.6% |
现金转化率CLOVCSGS
| Q4 25 | — | 8.46× | ||
| Q3 25 | — | 2.34× | ||
| Q2 25 | — | 3.04× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 2.39× | ||
| Q3 24 | — | 2.07× | ||
| Q2 24 | 6.04× | 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
CLOV
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% |
