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南玻集团（CSGS）与Donnelley Financial Solutions, Inc.（DFIN）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Donnelley Financial Solutions, Inc.的1.9倍（$323.1M vs $172.5M），Donnelley Financial Solutions, Inc.净利率更高（3.6% vs 2.2%，领先1.4%），Donnelley Financial Solutions, Inc.同比增速更快（10.4% vs 2.0%），南玻集团自由现金流更多（$55.8M vs $47.9M），过去两年南玻集团的营收复合增速更高（4.6% vs -7.9%）
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。
唐nelley金融解决方案（DFIN）是一家总部位于美国伊利诺伊州芝加哥市的金融合规企业，面向资本市场与投资市场的各类企业，提供符合美国监管要求的软件即服务产品、软件赋能服务、印刷业务及合规相关服务，助力客户满足合规要求。
CSGS vs DFIN — 直观对比
营收规模更大
CSGS
是对方的1.9倍
$172.5M
营收增速更快
DFIN
高出8.3%
2.0%
净利率更高
DFIN
高出1.4%
2.2%
自由现金流更多
CSGS
多$7.9M
$47.9M
两年增速更快
CSGS
近两年复合增速
-7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $172.5M |
| 净利润 | $7.0M | $6.2M |
| 毛利率 | 50.0% | — |
| 营业利润率 | 9.0% | 8.3% |
| 净利率 | 2.2% | 3.6% |
| 营收同比 | 2.0% | 10.4% |
| 净利润同比 | -79.7% | -1.6% |
| 每股收益（稀释后） | $0.24 | $0.31 |
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CSGSDFIN
| Q4 25 | $323.1M | $172.5M | ||
| Q3 25 | $303.6M | $175.3M | ||
| Q2 25 | $297.1M | $218.1M | ||
| Q1 25 | $299.5M | $201.1M | ||
| Q4 24 | $316.7M | $156.3M | ||
| Q3 24 | $295.1M | $179.5M | ||
| Q2 24 | $290.3M | $242.7M | ||
| Q1 24 | $295.1M | $203.4M |
净利润CSGSDFIN
| Q4 25 | $7.0M | $6.2M | ||
| Q3 25 | $20.5M | $-40.9M | ||
| Q2 25 | $12.3M | $36.1M | ||
| Q1 25 | $16.1M | $31.0M | ||
| Q4 24 | $34.5M | $6.3M | ||
| Q3 24 | $19.1M | $8.7M | ||
| Q2 24 | $13.8M | $44.1M | ||
| Q1 24 | $19.5M | $33.3M |
毛利率CSGSDFIN
| Q4 25 | 50.0% | — | ||
| Q3 25 | 48.1% | — | ||
| Q2 25 | 49.5% | — | ||
| Q1 25 | 48.4% | — | ||
| Q4 24 | 51.3% | — | ||
| Q3 24 | 49.4% | — | ||
| Q2 24 | 47.3% | — | ||
| Q1 24 | 46.5% | — |
营业利润率CSGSDFIN
| Q4 25 | 9.0% | 8.3% | ||
| Q3 25 | 10.0% | 16.1% | ||
| Q2 25 | 10.0% | 24.2% | ||
| Q1 25 | 9.8% | 22.8% | ||
| Q4 24 | 13.4% | 6.0% | ||
| Q3 24 | 10.8% | 10.1% | ||
| Q2 24 | 8.8% | 26.6% | ||
| Q1 24 | 10.8% | 21.9% |
净利率CSGSDFIN
| Q4 25 | 2.2% | 3.6% | ||
| Q3 25 | 6.7% | -23.3% | ||
| Q2 25 | 4.1% | 16.6% | ||
| Q1 25 | 5.4% | 15.4% | ||
| Q4 24 | 10.9% | 4.0% | ||
| Q3 24 | 6.5% | 4.8% | ||
| Q2 24 | 4.8% | 18.2% | ||
| Q1 24 | 6.6% | 16.4% |
每股收益（稀释后）CSGSDFIN
| Q4 25 | $0.24 | $0.31 | ||
| Q3 25 | $0.73 | $-1.49 | ||
| Q2 25 | $0.44 | $1.28 | ||
| Q1 25 | $0.57 | $1.05 | ||
| Q4 24 | $1.20 | $0.21 | ||
| Q3 24 | $0.67 | $0.29 | ||
| Q2 24 | $0.48 | $1.47 | ||
| Q1 24 | $0.68 | $1.09 |
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 | $24.5M |
| 总债务越低越好 | $539.5M | $171.3M |
| 股东权益账面价值 | $283.7M | $379.2M |
| 总资产 | $1.5B | $800.4M |
| 负债/权益比越低杠杆越低 | 1.90× | 0.45× |
8季度趋势，按日历期对齐
现金及短期投资CSGSDFIN
| Q4 25 | $180.0M | $24.5M | ||
| Q3 25 | $158.4M | $22.7M | ||
| Q2 25 | $145.9M | $33.8M | ||
| Q1 25 | $136.0M | $16.2M | ||
| Q4 24 | $161.8M | $57.3M | ||
| Q3 24 | $118.4M | $33.6M | ||
| Q2 24 | $110.4M | $35.0M | ||
| Q1 24 | $120.8M | $43.7M |
总债务CSGSDFIN
| Q4 25 | $539.5M | $171.3M | ||
| Q3 25 | $538.6M | $154.7M | ||
| Q2 25 | $537.8M | $190.1M | ||
| Q1 25 | $537.6M | $189.5M | ||
| Q4 24 | $538.5M | $124.7M | ||
| Q3 24 | $539.5M | — | ||
| Q2 24 | $540.5M | — | ||
| Q1 24 | $541.5M | — |
股东权益CSGSDFIN
| Q4 25 | $283.7M | $379.2M | ||
| Q3 25 | $289.5M | $423.1M | ||
| Q2 25 | $290.7M | $432.1M | ||
| Q1 25 | $283.1M | $419.9M | ||
| Q4 24 | $282.6M | $436.1M | ||
| Q3 24 | $288.4M | $444.5M | ||
| Q2 24 | $273.3M | $441.5M | ||
| Q1 24 | $269.3M | $408.9M |
总资产CSGSDFIN
| Q4 25 | $1.5B | $800.4M | ||
| Q3 25 | $1.5B | $816.3M | ||
| Q2 25 | $1.4B | $874.7M | ||
| Q1 25 | $1.4B | $852.8M | ||
| Q4 24 | $1.5B | $841.6M | ||
| Q3 24 | $1.4B | $843.6M | ||
| Q2 24 | $1.4B | $882.9M | ||
| Q1 24 | $1.3B | $867.8M |
负债/权益比CSGSDFIN
| Q4 25 | 1.90× | 0.45× | ||
| Q3 25 | 1.86× | 0.37× | ||
| Q2 25 | 1.85× | 0.44× | ||
| Q1 25 | 1.90× | 0.45× | ||
| Q4 24 | 1.91× | 0.29× | ||
| 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 | $59.2M | $59.8M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $47.9M |
| 自由现金流率自由现金流/营收 | 17.3% | 27.8% |
| 资本支出强度资本支出/营收 | 1.1% | 6.9% |
| 现金转化率经营现金流/净利润 | 8.46× | 9.65× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $107.8M |
8季度趋势，按日历期对齐
经营现金流CSGSDFIN
| Q4 25 | $59.2M | $59.8M | ||
| Q3 25 | $47.9M | $74.4M | ||
| Q2 25 | $37.3M | $68.4M | ||
| Q1 25 | $11.5M | $-37.7M | ||
| Q4 24 | $82.5M | $56.4M | ||
| Q3 24 | $39.5M | $86.4M | ||
| Q2 24 | $43.1M | $56.2M | ||
| Q1 24 | $-29.4M | $-27.9M |
自由现金流CSGSDFIN
| Q4 25 | $55.8M | $47.9M | ||
| Q3 25 | $43.9M | $59.2M | ||
| Q2 25 | $34.6M | $51.7M | ||
| Q1 25 | $7.1M | $-51.0M | ||
| Q4 24 | $76.6M | $41.3M | ||
| Q3 24 | $32.0M | $67.3M | ||
| Q2 24 | $38.8M | $36.8M | ||
| Q1 24 | $-34.1M | $-40.2M |
自由现金流率CSGSDFIN
| Q4 25 | 17.3% | 27.8% | ||
| Q3 25 | 14.5% | 33.8% | ||
| Q2 25 | 11.6% | 23.7% | ||
| Q1 25 | 2.4% | -25.4% | ||
| Q4 24 | 24.2% | 26.4% | ||
| Q3 24 | 10.8% | 37.5% | ||
| Q2 24 | 13.4% | 15.2% | ||
| Q1 24 | -11.6% | -19.8% |
资本支出强度CSGSDFIN
| Q4 25 | 1.1% | 6.9% | ||
| Q3 25 | 1.3% | 8.7% | ||
| Q2 25 | 0.9% | 7.7% | ||
| Q1 25 | 1.5% | 6.6% | ||
| Q4 24 | 1.9% | 9.7% | ||
| Q3 24 | 2.5% | 10.6% | ||
| Q2 24 | 1.5% | 8.0% | ||
| Q1 24 | 1.6% | 6.0% |
现金转化率CSGSDFIN
| Q4 25 | 8.46× | 9.65× | ||
| Q3 25 | 2.34× | — | ||
| Q2 25 | 3.04× | 1.89× | ||
| Q1 25 | 0.71× | -1.22× | ||
| Q4 24 | 2.39× | 8.95× | ||
| Q3 24 | 2.07× | 9.93× | ||
| Q2 24 | 3.12× | 1.27× | ||
| Q1 24 | -1.51× | -0.84× |
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% |
DFIN
| Technology Service | $68.0M | 39% |
| Capital Markets Compliance And Communications Management | $61.6M | 36% |
| Investment Companies Software Solutions | $30.9M | 18% |
| Print And Distribution Service | $13.6M | 8% |
