vs
南玻集团（CSGS）与DELUXE CORP（DLX）财务数据对比。点击上方公司名可切换其他公司
DELUXE CORP的季度营收约是南玻集团的1.7倍（$535.2M vs $323.1M），DELUXE CORP净利率更高（2.2% vs 2.2%，领先0.1%），DELUXE CORP同比增速更快（2.8% vs 2.0%），过去两年南玻集团的营收复合增速更高（4.6% vs 0.0%）
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。
德朗士公司是一家美国企业，提供支付处理、数据服务、票据与促销产品以及商户服务，业务分为B2B支付、数据、印刷和商户服务四大板块。截至2025年，公司为数百万中小企业和数千家金融机构提供服务，每年处理支付交易总额超2.8万亿美元，虽传统核心业务为票据印刷等印刷产品，如今支付与数据服务已成为核心板块。
CSGS vs DLX — 直观对比
营收规模更大
DLX
是对方的1.7倍
$323.1M
营收增速更快
DLX
高出0.8%
2.0%
净利率更高
DLX
高出0.1%
2.2%
两年增速更快
CSGS
近两年复合增速
0.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $535.2M |
| 净利润 | $7.0M | $12.0M |
| 毛利率 | 50.0% | 52.2% |
| 营业利润率 | 9.0% | 8.9% |
| 净利率 | 2.2% | 2.2% |
| 营收同比 | 2.0% | 2.8% |
| 净利润同比 | -79.7% | -5.0% |
| 每股收益（稀释后） | $0.24 | $0.25 |
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CSGSDLX
| Q4 25 | $323.1M | $535.2M | ||
| Q3 25 | $303.6M | $540.2M | ||
| Q2 25 | $297.1M | $521.3M | ||
| Q1 25 | $299.5M | $536.5M | ||
| Q4 24 | $316.7M | $520.6M | ||
| Q3 24 | $295.1M | $528.4M | ||
| Q2 24 | $290.3M | $537.8M | ||
| Q1 24 | $295.1M | $535.0M |
净利润CSGSDLX
| Q4 25 | $7.0M | $12.0M | ||
| Q3 25 | $20.5M | $33.7M | ||
| Q2 25 | $12.3M | $22.4M | ||
| Q1 25 | $16.1M | $14.0M | ||
| Q4 24 | $34.5M | $12.6M | ||
| Q3 24 | $19.1M | $8.9M | ||
| Q2 24 | $13.8M | $20.5M | ||
| Q1 24 | $19.5M | $10.8M |
毛利率CSGSDLX
| Q4 25 | 50.0% | 52.2% | ||
| Q3 25 | 48.1% | 53.9% | ||
| Q2 25 | 49.5% | 53.6% | ||
| Q1 25 | 48.4% | 52.4% | ||
| Q4 24 | 51.3% | 52.3% | ||
| Q3 24 | 49.4% | 53.3% | ||
| Q2 24 | 47.3% | 53.7% | ||
| Q1 24 | 46.5% | 53.0% |
营业利润率CSGSDLX
| Q4 25 | 9.0% | 8.9% | ||
| Q3 25 | 10.0% | 14.0% | ||
| Q2 25 | 10.0% | 11.7% | ||
| Q1 25 | 9.8% | 9.0% | ||
| Q4 24 | 13.4% | 9.0% | ||
| Q3 24 | 10.8% | 7.9% | ||
| Q2 24 | 8.8% | 11.0% | ||
| Q1 24 | 10.8% | 8.3% |
净利率CSGSDLX
| Q4 25 | 2.2% | 2.2% | ||
| Q3 25 | 6.7% | 6.2% | ||
| Q2 25 | 4.1% | 4.3% | ||
| Q1 25 | 5.4% | 2.6% | ||
| Q4 24 | 10.9% | 2.4% | ||
| Q3 24 | 6.5% | 1.7% | ||
| Q2 24 | 4.8% | 3.8% | ||
| Q1 24 | 6.6% | 2.0% |
每股收益（稀释后）CSGSDLX
| Q4 25 | $0.24 | $0.25 | ||
| Q3 25 | $0.73 | $0.74 | ||
| Q2 25 | $0.44 | $0.50 | ||
| Q1 25 | $0.57 | $0.31 | ||
| Q4 24 | $1.20 | $0.28 | ||
| Q3 24 | $0.67 | $0.20 | ||
| Q2 24 | $0.48 | $0.46 | ||
| Q1 24 | $0.68 | $0.24 |
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 | $36.9M |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $680.7M |
| 总资产 | $1.5B | $2.9B |
| 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CSGSDLX
| Q4 25 | $180.0M | $36.9M | ||
| Q3 25 | $158.4M | $25.8M | ||
| Q2 25 | $145.9M | $26.0M | ||
| Q1 25 | $136.0M | $30.3M | ||
| Q4 24 | $161.8M | $34.4M | ||
| Q3 24 | $118.4M | $41.3M | ||
| Q2 24 | $110.4M | $23.1M | ||
| Q1 24 | $120.8M | $23.5M |
总债务CSGSDLX
| 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CSGSDLX
| Q4 25 | $283.7M | $680.7M | ||
| Q3 25 | $289.5M | $664.1M | ||
| Q2 25 | $290.7M | $638.7M | ||
| Q1 25 | $283.1M | $622.5M | ||
| Q4 24 | $282.6M | $620.9M | ||
| Q3 24 | $288.4M | $612.7M | ||
| Q2 24 | $273.3M | $620.5M | ||
| Q1 24 | $269.3M | $608.4M |
总资产CSGSDLX
| Q4 25 | $1.5B | $2.9B | ||
| Q3 25 | $1.5B | $2.6B | ||
| Q2 25 | $1.4B | $2.5B | ||
| Q1 25 | $1.4B | $2.6B | ||
| Q4 24 | $1.5B | $2.8B | ||
| Q3 24 | $1.4B | $2.6B | ||
| Q2 24 | $1.4B | $2.7B | ||
| Q1 24 | $1.3B | $2.7B |
负债/权益比CSGSDLX
| 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 | $59.2M | $102.1M |
| 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× | 8.53× |
| 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CSGSDLX
| Q4 25 | $59.2M | $102.1M | ||
| Q3 25 | $47.9M | $67.1M | ||
| Q2 25 | $37.3M | $51.1M | ||
| Q1 25 | $11.5M | $50.3M | ||
| Q4 24 | $82.5M | $60.2M | ||
| Q3 24 | $39.5M | $67.9M | ||
| Q2 24 | $43.1M | $39.6M | ||
| Q1 24 | $-29.4M | $26.6M |
自由现金流CSGSDLX
| Q4 25 | $55.8M | — | ||
| Q3 25 | $43.9M | — | ||
| Q2 25 | $34.6M | $27.8M | ||
| Q1 25 | $7.1M | $24.3M | ||
| Q4 24 | $76.6M | — | ||
| Q3 24 | $32.0M | $46.7M | ||
| Q2 24 | $38.8M | $11.4M | ||
| Q1 24 | $-34.1M | $6.1M |
自由现金流率CSGSDLX
| Q4 25 | 17.3% | — | ||
| Q3 25 | 14.5% | — | ||
| Q2 25 | 11.6% | 5.3% | ||
| Q1 25 | 2.4% | 4.5% | ||
| Q4 24 | 24.2% | — | ||
| Q3 24 | 10.8% | 8.8% | ||
| Q2 24 | 13.4% | 2.1% | ||
| Q1 24 | -11.6% | 1.1% |
资本支出强度CSGSDLX
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 0.9% | 4.5% | ||
| Q1 25 | 1.5% | 4.8% | ||
| Q4 24 | 1.9% | — | ||
| Q3 24 | 2.5% | 4.0% | ||
| Q2 24 | 1.5% | 5.2% | ||
| Q1 24 | 1.6% | 3.8% |
现金转化率CSGSDLX
| Q4 25 | 8.46× | 8.53× | ||
| Q3 25 | 2.34× | 1.99× | ||
| Q2 25 | 3.04× | 2.28× | ||
| Q1 25 | 0.71× | 3.59× | ||
| Q4 24 | 2.39× | 4.77× | ||
| Q3 24 | 2.07× | 7.60× | ||
| Q2 24 | 3.12× | 1.94× | ||
| Q1 24 | -1.51× | 2.46× |
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% |
DLX
| Services | $247.9M | 46% |
| B2B Payments | $76.3M | 14% |
| Datadrivenmarketingsolutions | $68.5M | 13% |
| Promotional Solutions Revenue | $60.9M | 11% |
| Treasurymanagementsolutions | $59.8M | 11% |
| Other | $17.3M | 3% |
| Other Web Based Solutions | $4.6M | 1% |
