vs
南玻集团（CSGS）与Dayforce（DAY）财务数据对比。点击上方公司名可切换其他公司
Dayforce的季度营收约是南玻集团的1.5倍（$481.6M vs $323.1M），南玻集团净利率更高（2.2% vs -40.9%，领先43.0%），Dayforce同比增速更快（9.5% vs 2.0%），过去两年Dayforce的营收复合增速更高（9.8% 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。
Dayforce前身为知名人力资源服务商Ceridian，是一家总部位于美国的人力资源软件及服务企业，面向各行业不同规模的客户提供覆盖薪酬核算、人员管理、考勤等多场景的HR SaaS产品及配套专业服务，助力企业提升人力资源运营效率。
CSGS vs DAY — 直观对比
营收规模更大
DAY
是对方的1.5倍
$323.1M
营收增速更快
DAY
高出7.4%
2.0%
净利率更高
CSGS
高出43.0%
-40.9%
两年增速更快
DAY
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $481.6M |
| 净利润 | $7.0M | $-196.8M |
| 毛利率 | 50.0% | — |
| 营业利润率 | 9.0% | 6.3% |
| 净利率 | 2.2% | -40.9% |
| 营收同比 | 2.0% | 9.5% |
| 净利润同比 | -79.7% | -9940.0% |
| 每股收益（稀释后） | $0.24 | $-1.23 |
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CSGSDAY
| Q4 25 | $323.1M | — | ||
| Q3 25 | $303.6M | $481.6M | ||
| Q2 25 | $297.1M | $464.7M | ||
| Q1 25 | $299.5M | $481.8M | ||
| Q4 24 | $316.7M | $465.2M | ||
| Q3 24 | $295.1M | $440.0M | ||
| Q2 24 | $290.3M | $423.3M | ||
| Q1 24 | $295.1M | $431.5M |
净利润CSGSDAY
| Q4 25 | $7.0M | — | ||
| Q3 25 | $20.5M | $-196.8M | ||
| Q2 25 | $12.3M | $21.3M | ||
| Q1 25 | $16.1M | $14.9M | ||
| Q4 24 | $34.5M | $10.8M | ||
| Q3 24 | $19.1M | $2.0M | ||
| Q2 24 | $13.8M | $-1.8M | ||
| Q1 24 | $19.5M | $7.1M |
毛利率CSGSDAY
| Q4 25 | 50.0% | — | ||
| Q3 25 | 48.1% | — | ||
| Q2 25 | 49.5% | — | ||
| Q1 25 | 48.4% | — | ||
| Q4 24 | 51.3% | 47.0% | ||
| Q3 24 | 49.4% | 45.8% | ||
| Q2 24 | 47.3% | 44.1% | ||
| Q1 24 | 46.5% | 47.6% |
营业利润率CSGSDAY
| Q4 25 | 9.0% | — | ||
| Q3 25 | 10.0% | 6.3% | ||
| Q2 25 | 10.0% | 9.1% | ||
| Q1 25 | 9.8% | 6.4% | ||
| Q4 24 | 13.4% | 6.1% | ||
| Q3 24 | 10.8% | 4.7% | ||
| Q2 24 | 8.8% | 3.3% | ||
| Q1 24 | 10.8% | 9.4% |
净利率CSGSDAY
| Q4 25 | 2.2% | — | ||
| Q3 25 | 6.7% | -40.9% | ||
| Q2 25 | 4.1% | 4.6% | ||
| Q1 25 | 5.4% | 3.1% | ||
| Q4 24 | 10.9% | 2.3% | ||
| Q3 24 | 6.5% | 0.5% | ||
| Q2 24 | 4.8% | -0.4% | ||
| Q1 24 | 6.6% | 1.6% |
每股收益（稀释后）CSGSDAY
| Q4 25 | $0.24 | — | ||
| Q3 25 | $0.73 | $-1.23 | ||
| Q2 25 | $0.44 | $0.13 | ||
| Q1 25 | $0.57 | $0.09 | ||
| Q4 24 | $1.20 | $0.07 | ||
| Q3 24 | $0.67 | $0.01 | ||
| Q2 24 | $0.48 | $-0.01 | ||
| Q1 24 | $0.68 | $0.04 |
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 | $627.6M |
| 总债务越低越好 | $539.5M | $631.1M |
| 股东权益账面价值 | $283.7M | $2.7B |
| 总资产 | $1.5B | $8.7B |
| 负债/权益比越低杠杆越低 | 1.90× | 0.23× |
8季度趋势，按日历期对齐
现金及短期投资CSGSDAY
| Q4 25 | $180.0M | — | ||
| Q3 25 | $158.4M | $627.6M | ||
| Q2 25 | $145.9M | $625.2M | ||
| Q1 25 | $136.0M | $557.3M | ||
| Q4 24 | $161.8M | $579.7M | ||
| Q3 24 | $118.4M | $494.1M | ||
| Q2 24 | $110.4M | $465.4M | ||
| Q1 24 | $120.8M | $392.5M |
总债务CSGSDAY
| Q4 25 | $539.5M | — | ||
| Q3 25 | $538.6M | $631.1M | ||
| Q2 25 | $537.8M | $631.8M | ||
| Q1 25 | $537.6M | $632.4M | ||
| Q4 24 | $538.5M | $1.2B | ||
| Q3 24 | $539.5M | $1.2B | ||
| Q2 24 | $540.5M | $1.2B | ||
| Q1 24 | $541.5M | $1.2B |
股东权益CSGSDAY
| Q4 25 | $283.7M | — | ||
| Q3 25 | $289.5M | $2.7B | ||
| Q2 25 | $290.7M | $2.7B | ||
| Q1 25 | $283.1M | $2.6B | ||
| Q4 24 | $282.6M | $2.5B | ||
| Q3 24 | $288.4M | $2.6B | ||
| Q2 24 | $273.3M | $2.5B | ||
| Q1 24 | $269.3M | $2.4B |
总资产CSGSDAY
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | $8.7B | ||
| Q2 25 | $1.4B | $8.5B | ||
| Q1 25 | $1.4B | $9.5B | ||
| Q4 24 | $1.5B | $9.1B | ||
| Q3 24 | $1.4B | $8.1B | ||
| Q2 24 | $1.4B | $9.0B | ||
| Q1 24 | $1.3B | $10.8B |
负债/权益比CSGSDAY
| Q4 25 | 1.90× | — | ||
| Q3 25 | 1.86× | 0.23× | ||
| Q2 25 | 1.85× | 0.23× | ||
| Q1 25 | 1.90× | 0.24× | ||
| Q4 24 | 1.91× | 0.47× | ||
| Q3 24 | 1.87× | 0.47× | ||
| Q2 24 | 1.98× | 0.49× | ||
| Q1 24 | 2.01× | 0.50× |
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 | $31.2M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | — |
| 自由现金流率自由现金流/营收 | 17.3% | — |
| 资本支出强度资本支出/营收 | 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 | $141.4M | — |
8季度趋势，按日历期对齐
经营现金流CSGSDAY
| Q4 25 | $59.2M | — | ||
| Q3 25 | $47.9M | $31.2M | ||
| Q2 25 | $37.3M | $112.7M | ||
| Q1 25 | $11.5M | $49.6M | ||
| Q4 24 | $82.5M | $81.0M | ||
| Q3 24 | $39.5M | $91.8M | ||
| Q2 24 | $43.1M | $99.2M | ||
| Q1 24 | $-29.4M | $9.1M |
自由现金流CSGSDAY
| Q4 25 | $55.8M | — | ||
| Q3 25 | $43.9M | — | ||
| Q2 25 | $34.6M | — | ||
| Q1 25 | $7.1M | — | ||
| Q4 24 | $76.6M | — | ||
| Q3 24 | $32.0M | — | ||
| Q2 24 | $38.8M | — | ||
| Q1 24 | $-34.1M | — |
自由现金流率CSGSDAY
| Q4 25 | 17.3% | — | ||
| Q3 25 | 14.5% | — | ||
| Q2 25 | 11.6% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 24.2% | — | ||
| Q3 24 | 10.8% | — | ||
| Q2 24 | 13.4% | — | ||
| Q1 24 | -11.6% | — |
资本支出强度CSGSDAY
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 1.9% | — | ||
| Q3 24 | 2.5% | — | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 1.6% | — |
现金转化率CSGSDAY
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | — | ||
| Q2 25 | 3.04× | 5.29× | ||
| Q1 25 | 0.71× | 3.33× | ||
| Q4 24 | 2.39× | 7.50× | ||
| Q3 24 | 2.07× | 45.90× | ||
| Q2 24 | 3.12× | — | ||
| Q1 24 | -1.51× | 1.28× |
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% |
DAY
| Dayforce Recurring | $333.0M | 69% |
| Cloud And Bureau Professional Services And Other | $78.5M | 16% |
| Float | $42.2M | 9% |
| Powerpay Recurring | $19.7M | 4% |
| Other Recurring | $8.2M | 2% |
