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AMERICOLD REALTY TRUST（COLD）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
AMERICOLD REALTY TRUST的季度营收约是南玻集团的2.0倍（$643.1M vs $323.1M），南玻集团净利率更高（2.2% vs -13.7%，领先15.9%），南玻集团同比增速更快（2.0% vs -0.7%），南玻集团自由现金流更多（$55.8M vs $-12.2M），过去两年南玻集团的营收复合增速更高（4.6% vs -0.6%）
Americold Realty Trust是总部位于美国佐治亚州亚特兰大的温控仓储及运输企业，主营现代化商用温控仓储业务，通过冷链体系存储易腐货物，是食品保鲜供应链的重要参与方，为全球第二大温控仓储及配送服务提供商。
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。
COLD vs CSGS — 直观对比
营收规模更大
COLD
是对方的2.0倍
$323.1M
营收增速更快
CSGS
高出2.7%
-0.7%
净利率更高
CSGS
高出15.9%
-13.7%
自由现金流更多
CSGS
多$68.0M
$-12.2M
两年增速更快
CSGS
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $643.1M | $323.1M |
| 净利润 | $-88.3M | $7.0M |
| 毛利率 | 31.3% | 50.0% |
| 营业利润率 | -10.8% | 9.0% |
| 净利率 | -13.7% | 2.2% |
| 营收同比 | -0.7% | 2.0% |
| 净利润同比 | -143.9% | -79.7% |
| 每股收益（稀释后） | $-0.31 | $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COLDCSGS
| Q4 25 | $643.1M | $323.1M | ||
| Q3 25 | $649.0M | $303.6M | ||
| Q2 25 | $635.1M | $297.1M | ||
| Q1 25 | $613.7M | $299.5M | ||
| Q4 24 | $647.4M | $316.7M | ||
| Q3 24 | $660.4M | $295.1M | ||
| Q2 24 | $645.6M | $290.3M | ||
| Q1 24 | $651.4M | $295.1M |
净利润COLDCSGS
| Q4 25 | $-88.3M | $7.0M | ||
| Q3 25 | $-11.4M | $20.5M | ||
| Q2 25 | $1.5M | $12.3M | ||
| Q1 25 | $-16.4M | $16.1M | ||
| Q4 24 | $-36.2M | $34.5M | ||
| Q3 24 | $-3.7M | $19.1M | ||
| Q2 24 | $-64.1M | $13.8M | ||
| Q1 24 | $9.7M | $19.5M |
毛利率COLDCSGS
| Q4 25 | 31.3% | 50.0% | ||
| Q3 25 | 29.3% | 48.1% | ||
| Q2 25 | 30.9% | 49.5% | ||
| Q1 25 | 31.1% | 48.4% | ||
| Q4 24 | 29.7% | 51.3% | ||
| Q3 24 | 29.6% | 49.4% | ||
| Q2 24 | 31.0% | 47.3% | ||
| Q1 24 | 30.3% | 46.5% |
营业利润率COLDCSGS
| Q4 25 | -10.8% | 9.0% | ||
| Q3 25 | 2.6% | 10.0% | ||
| Q2 25 | 5.9% | 10.0% | ||
| Q1 25 | 3.6% | 9.8% | ||
| Q4 24 | -1.8% | 13.4% | ||
| Q3 24 | 4.6% | 10.8% | ||
| Q2 24 | 9.8% | 8.8% | ||
| Q1 24 | 6.4% | 10.8% |
净利率COLDCSGS
| Q4 25 | -13.7% | 2.2% | ||
| Q3 25 | -1.8% | 6.7% | ||
| Q2 25 | 0.2% | 4.1% | ||
| Q1 25 | -2.7% | 5.4% | ||
| Q4 24 | -5.6% | 10.9% | ||
| Q3 24 | -0.6% | 6.5% | ||
| Q2 24 | -9.9% | 4.8% | ||
| Q1 24 | 1.5% | 6.6% |
每股收益（稀释后）COLDCSGS
| Q4 25 | $-0.31 | $0.24 | ||
| Q3 25 | $-0.04 | $0.73 | ||
| Q2 25 | $0.01 | $0.44 | ||
| Q1 25 | $-0.06 | $0.57 | ||
| Q4 24 | $-0.12 | $1.20 | ||
| Q3 24 | $-0.01 | $0.67 | ||
| Q2 24 | $-0.23 | $0.48 | ||
| Q1 24 | $0.03 | $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 | $136.9M | $180.0M |
| 总债务越低越好 | — | $539.5M |
| 股东权益账面价值 | $2.9B | $283.7M |
| 总资产 | $8.1B | $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COLDCSGS
| Q4 25 | $136.9M | $180.0M | ||
| Q3 25 | $33.3M | $158.4M | ||
| Q2 25 | $101.4M | $145.9M | ||
| Q1 25 | $38.9M | $136.0M | ||
| Q4 24 | $47.7M | $161.8M | ||
| Q3 24 | $61.3M | $118.4M | ||
| Q2 24 | $44.2M | $110.4M | ||
| Q1 24 | $59.2M | $120.8M |
总债务COLDCSGS
| 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COLDCSGS
| Q4 25 | $2.9B | $283.7M | ||
| Q3 25 | $3.0B | $289.5M | ||
| Q2 25 | $3.1B | $290.7M | ||
| Q1 25 | $3.2B | $283.1M | ||
| Q4 24 | $3.3B | $282.6M | ||
| Q3 24 | $3.4B | $288.4M | ||
| Q2 24 | $3.4B | $273.3M | ||
| Q1 24 | $3.6B | $269.3M |
总资产COLDCSGS
| Q4 25 | $8.1B | $1.5B | ||
| Q3 25 | $8.1B | $1.5B | ||
| Q2 25 | $8.1B | $1.4B | ||
| Q1 25 | $7.8B | $1.4B | ||
| Q4 24 | $7.7B | $1.5B | ||
| Q3 24 | $7.9B | $1.4B | ||
| Q2 24 | $7.8B | $1.4B | ||
| Q1 24 | $7.8B | $1.3B |
负债/权益比COLDCSGS
| 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 | $130.2M | $59.2M |
| 自由现金流经营现金流 - 资本支出 | $-12.2M | $55.8M |
| 自由现金流率自由现金流/营收 | -1.9% | 17.3% |
| 资本支出强度资本支出/营收 | 22.1% | 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 | $-217.2M | $141.4M |
8季度趋势，按日历期对齐
经营现金流COLDCSGS
| Q4 25 | $130.2M | $59.2M | ||
| Q3 25 | $78.9M | $47.9M | ||
| Q2 25 | $120.3M | $37.3M | ||
| Q1 25 | $30.2M | $11.5M | ||
| Q4 24 | $162.6M | $82.5M | ||
| Q3 24 | $50.6M | $39.5M | ||
| Q2 24 | $136.7M | $43.1M | ||
| Q1 24 | $62.0M | $-29.4M |
自由现金流COLDCSGS
| Q4 25 | $-12.2M | $55.8M | ||
| Q3 25 | $-65.4M | $43.9M | ||
| Q2 25 | $-57.4M | $34.6M | ||
| Q1 25 | $-82.3M | $7.1M | ||
| Q4 24 | $57.4M | $76.6M | ||
| Q3 24 | $-44.5M | $32.0M | ||
| Q2 24 | $73.3M | $38.8M | ||
| Q1 24 | $16.2M | $-34.1M |
自由现金流率COLDCSGS
| Q4 25 | -1.9% | 17.3% | ||
| Q3 25 | -10.1% | 14.5% | ||
| Q2 25 | -9.0% | 11.6% | ||
| Q1 25 | -13.4% | 2.4% | ||
| Q4 24 | 8.9% | 24.2% | ||
| Q3 24 | -6.7% | 10.8% | ||
| Q2 24 | 11.4% | 13.4% | ||
| Q1 24 | 2.5% | -11.6% |
资本支出强度COLDCSGS
| Q4 25 | 22.1% | 1.1% | ||
| Q3 25 | 22.2% | 1.3% | ||
| Q2 25 | 28.0% | 0.9% | ||
| Q1 25 | 18.3% | 1.5% | ||
| Q4 24 | 16.3% | 1.9% | ||
| Q3 24 | 14.4% | 2.5% | ||
| Q2 24 | 9.8% | 1.5% | ||
| Q1 24 | 7.0% | 1.6% |
现金转化率COLDCSGS
| Q4 25 | — | 8.46× | ||
| Q3 25 | — | 2.34× | ||
| Q2 25 | 78.18× | 3.04× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 2.39× | ||
| Q3 24 | — | 2.07× | ||
| Q2 24 | — | 3.12× | ||
| Q1 24 | 6.36× | -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
COLD
| Warehouse Services | $269.0M | 42% |
| Warehouse Rent And Storage | $199.9M | 31% |
| Other Facilities Costs | $60.0M | 9% |
| Transportation Segment | $48.3M | 8% |
| Power | $34.7M | 5% |
| Transportation | $22.0M | 3% |
| Third Party Managed Segment | $9.5M | 1% |
| Third Party Managed | $2.4M | 0% |
CSGS
| Software As A Service And Related Solutions | $287.2M | 89% |
| License And Service | $22.6M | 7% |
| Maintenance | $13.3M | 4% |
