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南玻集团（CSGS）与CSW INDUSTRIALS, INC.（CSW）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CSW INDUSTRIALS, INC.的1.4倍（$323.1M vs $233.0M），CSW INDUSTRIALS, INC.净利率更高（4.4% vs 2.2%，领先2.2%），CSW INDUSTRIALS, INC.同比增速更快（20.3% vs 2.0%），南玻集团自由现金流更多（$55.8M vs $22.7M），过去两年CSW INDUSTRIALS, INC.的营收复合增速更高（5.1% vs 4.6%）
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。
CSGS vs CSW — 直观对比
营收规模更大
CSGS
是对方的1.4倍
$233.0M
营收增速更快
CSW
高出18.3%
2.0%
净利率更高
CSW
高出2.2%
2.2%
自由现金流更多
CSGS
多$33.1M
$22.7M
两年增速更快
CSW
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $233.0M |
| 净利润 | $7.0M | $10.3M |
| 毛利率 | 50.0% | 39.7% |
| 营业利润率 | 9.0% | 7.4% |
| 净利率 | 2.2% | 4.4% |
| 营收同比 | 2.0% | 20.3% |
| 净利润同比 | -79.7% | -61.9% |
| 每股收益（稀释后） | $0.24 | $0.62 |
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CSGSCSW
| Q4 25 | $323.1M | $233.0M | ||
| Q3 25 | $303.6M | $277.0M | ||
| Q2 25 | $297.1M | $263.6M | ||
| Q1 25 | $299.5M | $230.5M | ||
| Q4 24 | $316.7M | $193.6M | ||
| Q3 24 | $295.1M | $227.9M | ||
| Q2 24 | $290.3M | $226.2M | ||
| Q1 24 | $295.1M | $210.9M |
净利润CSGSCSW
| Q4 25 | $7.0M | $10.3M | ||
| Q3 25 | $20.5M | $40.7M | ||
| Q2 25 | $12.3M | $40.9M | ||
| Q1 25 | $16.1M | $35.1M | ||
| Q4 24 | $34.5M | $26.9M | ||
| Q3 24 | $19.1M | $36.1M | ||
| Q2 24 | $13.8M | $38.6M | ||
| Q1 24 | $19.5M | $31.8M |
毛利率CSGSCSW
| Q4 25 | 50.0% | 39.7% | ||
| Q3 25 | 48.1% | 43.0% | ||
| Q2 25 | 49.5% | 43.8% | ||
| Q1 25 | 48.4% | 44.2% | ||
| Q4 24 | 51.3% | 41.4% | ||
| Q3 24 | 49.4% | 45.6% | ||
| Q2 24 | 47.3% | 47.5% | ||
| Q1 24 | 46.5% | 44.4% |
营业利润率CSGSCSW
| Q4 25 | 9.0% | 7.4% | ||
| Q3 25 | 10.0% | 20.5% | ||
| Q2 25 | 10.0% | 20.8% | ||
| Q1 25 | 9.8% | 19.5% | ||
| Q4 24 | 13.4% | 15.3% | ||
| Q3 24 | 10.8% | 22.6% | ||
| Q2 24 | 8.8% | 24.3% | ||
| Q1 24 | 10.8% | 21.0% |
净利率CSGSCSW
| Q4 25 | 2.2% | 4.4% | ||
| Q3 25 | 6.7% | 14.7% | ||
| Q2 25 | 4.1% | 15.5% | ||
| Q1 25 | 5.4% | 15.2% | ||
| Q4 24 | 10.9% | 13.9% | ||
| Q3 24 | 6.5% | 15.8% | ||
| Q2 24 | 4.8% | 17.1% | ||
| Q1 24 | 6.6% | 15.1% |
每股收益（稀释后）CSGSCSW
| Q4 25 | $0.24 | $0.62 | ||
| Q3 25 | $0.73 | $2.41 | ||
| Q2 25 | $0.44 | $2.43 | ||
| Q1 25 | $0.57 | $2.05 | ||
| Q4 24 | $1.20 | $1.60 | ||
| Q3 24 | $0.67 | $2.26 | ||
| Q2 24 | $0.48 | $2.47 | ||
| Q1 24 | $0.68 | $2.03 |
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 | $180.0M | $40.2M |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $1.1B |
| 总资产 | $1.5B | $2.3B |
| 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CSGSCSW
| Q4 25 | $180.0M | $40.2M | ||
| Q3 25 | $158.4M | $31.5M | ||
| Q2 25 | $145.9M | $38.0M | ||
| Q1 25 | $136.0M | $225.8M | ||
| Q4 24 | $161.8M | $213.8M | ||
| Q3 24 | $118.4M | $273.2M | ||
| Q2 24 | $110.4M | $18.9M | ||
| Q1 24 | $120.8M | $22.2M |
总债务CSGSCSW
| Q4 25 | $539.5M | — | ||
| Q3 25 | $538.6M | — | ||
| Q2 25 | $537.8M | — | ||
| Q1 25 | $537.6M | $800.1M | ||
| Q4 24 | $538.5M | — | ||
| Q3 24 | $539.5M | — | ||
| Q2 24 | $540.5M | — | ||
| Q1 24 | $541.5M | $166.0M |
股东权益CSGSCSW
| Q4 25 | $283.7M | $1.1B | ||
| Q3 25 | $289.5M | $1.1B | ||
| Q2 25 | $290.7M | $1.1B | ||
| Q1 25 | $283.1M | $1.1B | ||
| Q4 24 | $282.6M | $1.0B | ||
| Q3 24 | $288.4M | $1.0B | ||
| Q2 24 | $273.3M | $650.2M | ||
| Q1 24 | $269.3M | $615.7M |
总资产CSGSCSW
| Q4 25 | $1.5B | $2.3B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.4B | $1.5B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.5B | $1.4B | ||
| Q3 24 | $1.4B | $1.4B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.3B | $1.0B |
负债/权益比CSGSCSW
| Q4 25 | 1.90× | — | ||
| Q3 25 | 1.86× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.90× | 0.75× | ||
| Q4 24 | 1.91× | — | ||
| Q3 24 | 1.87× | — | ||
| Q2 24 | 1.98× | — | ||
| Q1 24 | 2.01× | 0.27× |
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 | $59.2M | $28.9M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $22.7M |
| 自由现金流率自由现金流/营收 | 17.3% | 9.8% |
| 资本支出强度资本支出/营收 | 1.1% | 2.6% |
| 现金转化率经营现金流/净利润 | 8.46× | 2.81× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $162.0M |
8季度趋势，按日历期对齐
经营现金流CSGSCSW
| Q4 25 | $59.2M | $28.9M | ||
| Q3 25 | $47.9M | $61.8M | ||
| Q2 25 | $37.3M | $60.6M | ||
| Q1 25 | $11.5M | $27.3M | ||
| Q4 24 | $82.5M | $11.6M | ||
| Q3 24 | $39.5M | $66.8M | ||
| Q2 24 | $43.1M | $62.7M | ||
| Q1 24 | $-29.4M | $22.4M |
自由现金流CSGSCSW
| Q4 25 | $55.8M | $22.7M | ||
| Q3 25 | $43.9M | $58.7M | ||
| Q2 25 | $34.6M | $57.7M | ||
| Q1 25 | $7.1M | $22.8M | ||
| Q4 24 | $76.6M | $8.5M | ||
| Q3 24 | $32.0M | $61.3M | ||
| Q2 24 | $38.8M | $59.6M | ||
| Q1 24 | $-34.1M | $17.5M |
自由现金流率CSGSCSW
| Q4 25 | 17.3% | 9.8% | ||
| Q3 25 | 14.5% | 21.2% | ||
| Q2 25 | 11.6% | 21.9% | ||
| Q1 25 | 2.4% | 9.9% | ||
| Q4 24 | 24.2% | 4.4% | ||
| Q3 24 | 10.8% | 26.9% | ||
| Q2 24 | 13.4% | 26.3% | ||
| Q1 24 | -11.6% | 8.3% |
资本支出强度CSGSCSW
| Q4 25 | 1.1% | 2.6% | ||
| Q3 25 | 1.3% | 1.1% | ||
| Q2 25 | 0.9% | 1.1% | ||
| Q1 25 | 1.5% | 2.0% | ||
| Q4 24 | 1.9% | 1.6% | ||
| Q3 24 | 2.5% | 2.4% | ||
| Q2 24 | 1.5% | 1.4% | ||
| Q1 24 | 1.6% | 2.3% |
现金转化率CSGSCSW
| Q4 25 | 8.46× | 2.81× | ||
| Q3 25 | 2.34× | 1.52× | ||
| Q2 25 | 3.04× | 1.48× | ||
| Q1 25 | 0.71× | 0.78× | ||
| Q4 24 | 2.39× | 0.43× | ||
| Q3 24 | 2.07× | 1.85× | ||
| Q2 24 | 3.12× | 1.62× | ||
| Q1 24 | -1.51× | 0.71× |
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
CSGS
| Software As A Service And Related Solutions | $287.2M | 89% |
| License And Service | $22.6M | 7% |
| Maintenance | $13.3M | 4% |
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
