vs
南玻集团（CSGS）与优尼威尔（DSGR）财务数据对比。点击上方公司名可切换其他公司
优尼威尔的季度营收约是南玻集团的1.6倍（$518.0M vs $323.1M），南玻集团净利率更高（2.2% vs 1.2%，领先0.9%），优尼威尔同比增速更快（10.7% vs 2.0%），南玻集团自由现金流更多（$55.8M vs $32.9M），过去两年优尼威尔的营收复合增速更高（13.1% 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。
优尼威尔解决方案公司是一家全球化化学品与原料分销商，同时可为客户提供各类增值服务，业务网络覆盖全球多个地区，在化工及原料分销领域拥有丰富的行业经验与资源积累。
CSGS vs DSGR — 直观对比
营收规模更大
DSGR
是对方的1.6倍
$323.1M
营收增速更快
DSGR
高出8.6%
2.0%
净利率更高
CSGS
高出0.9%
1.2%
自由现金流更多
CSGS
多$22.9M
$32.9M
两年增速更快
DSGR
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $518.0M |
| 净利润 | $7.0M | $6.5M |
| 毛利率 | 50.0% | 32.9% |
| 营业利润率 | 9.0% | 4.6% |
| 净利率 | 2.2% | 1.2% |
| 营收同比 | 2.0% | 10.7% |
| 净利润同比 | -79.7% | -70.6% |
| 每股收益（稀释后） | $0.24 | $0.14 |
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CSGSDSGR
| Q4 25 | $323.1M | — | ||
| Q3 25 | $303.6M | $518.0M | ||
| Q2 25 | $297.1M | $502.4M | ||
| Q1 25 | $299.5M | $478.0M | ||
| Q4 24 | $316.7M | $480.5M | ||
| Q3 24 | $295.1M | $468.0M | ||
| Q2 24 | $290.3M | $439.5M | ||
| Q1 24 | $295.1M | $416.1M |
净利润CSGSDSGR
| Q4 25 | $7.0M | — | ||
| Q3 25 | $20.5M | $6.5M | ||
| Q2 25 | $12.3M | $5.0M | ||
| Q1 25 | $16.1M | $3.3M | ||
| Q4 24 | $34.5M | $-25.9M | ||
| Q3 24 | $19.1M | $21.9M | ||
| Q2 24 | $13.8M | $1.9M | ||
| Q1 24 | $19.5M | $-5.2M |
毛利率CSGSDSGR
| Q4 25 | 50.0% | — | ||
| Q3 25 | 48.1% | 32.9% | ||
| Q2 25 | 49.5% | 33.9% | ||
| Q1 25 | 48.4% | 34.3% | ||
| Q4 24 | 51.3% | 33.3% | ||
| Q3 24 | 49.4% | 33.9% | ||
| Q2 24 | 47.3% | 34.5% | ||
| Q1 24 | 46.5% | 34.5% |
营业利润率CSGSDSGR
| Q4 25 | 9.0% | — | ||
| Q3 25 | 10.0% | 4.6% | ||
| Q2 25 | 10.0% | 5.3% | ||
| Q1 25 | 9.8% | 4.2% | ||
| Q4 24 | 13.4% | 4.2% | ||
| Q3 24 | 10.8% | 4.0% | ||
| Q2 24 | 8.8% | 3.2% | ||
| Q1 24 | 10.8% | 0.7% |
净利率CSGSDSGR
| Q4 25 | 2.2% | — | ||
| Q3 25 | 6.7% | 1.2% | ||
| Q2 25 | 4.1% | 1.0% | ||
| Q1 25 | 5.4% | 0.7% | ||
| Q4 24 | 10.9% | -5.4% | ||
| Q3 24 | 6.5% | 4.7% | ||
| Q2 24 | 4.8% | 0.4% | ||
| Q1 24 | 6.6% | -1.3% |
每股收益（稀释后）CSGSDSGR
| Q4 25 | $0.24 | — | ||
| Q3 25 | $0.73 | $0.14 | ||
| Q2 25 | $0.44 | $0.11 | ||
| Q1 25 | $0.57 | $0.07 | ||
| Q4 24 | $1.20 | $-0.55 | ||
| Q3 24 | $0.67 | $0.46 | ||
| Q2 24 | $0.48 | $0.04 | ||
| Q1 24 | $0.68 | $-0.11 |
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 | $69.2M |
| 总债务越低越好 | $539.5M | $665.5M |
| 股东权益账面价值 | $283.7M | $653.9M |
| 总资产 | $1.5B | $1.8B |
| 负债/权益比越低杠杆越低 | 1.90× | 1.02× |
8季度趋势，按日历期对齐
现金及短期投资CSGSDSGR
| Q4 25 | $180.0M | — | ||
| Q3 25 | $158.4M | $69.2M | ||
| Q2 25 | $145.9M | $47.4M | ||
| Q1 25 | $136.0M | $65.4M | ||
| Q4 24 | $161.8M | $66.5M | ||
| Q3 24 | $118.4M | $61.3M | ||
| Q2 24 | $110.4M | $46.8M | ||
| Q1 24 | $120.8M | $73.1M |
总债务CSGSDSGR
| Q4 25 | $539.5M | — | ||
| Q3 25 | $538.6M | $665.5M | ||
| Q2 25 | $537.8M | $675.0M | ||
| Q1 25 | $537.6M | $712.4M | ||
| Q4 24 | $538.5M | $693.9M | ||
| Q3 24 | $539.5M | $704.1M | ||
| Q2 24 | $540.5M | $573.7M | ||
| Q1 24 | $541.5M | $535.7M |
股东权益CSGSDSGR
| Q4 25 | $283.7M | — | ||
| Q3 25 | $289.5M | $653.9M | ||
| Q2 25 | $290.7M | $649.4M | ||
| Q1 25 | $283.1M | $636.7M | ||
| Q4 24 | $282.6M | $640.5M | ||
| Q3 24 | $288.4M | $680.8M | ||
| Q2 24 | $273.3M | $653.3M | ||
| Q1 24 | $269.3M | $654.7M |
总资产CSGSDSGR
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | $1.8B | ||
| Q2 25 | $1.4B | $1.8B | ||
| Q1 25 | $1.4B | $1.8B | ||
| Q4 24 | $1.5B | $1.7B | ||
| Q3 24 | $1.4B | $1.8B | ||
| Q2 24 | $1.4B | $1.6B | ||
| Q1 24 | $1.3B | $1.5B |
负债/权益比CSGSDSGR
| Q4 25 | 1.90× | — | ||
| Q3 25 | 1.86× | 1.02× | ||
| Q2 25 | 1.85× | 1.04× | ||
| Q1 25 | 1.90× | 1.12× | ||
| Q4 24 | 1.91× | 1.08× | ||
| Q3 24 | 1.87× | 1.03× | ||
| Q2 24 | 1.98× | 0.88× | ||
| Q1 24 | 2.01× | 0.82× |
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 | $38.4M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $32.9M |
| 自由现金流率自由现金流/营收 | 17.3% | 6.3% |
| 资本支出强度资本支出/营收 | 1.1% | 1.1% |
| 现金转化率经营现金流/净利润 | 8.46× | 5.95× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $92.2M |
8季度趋势，按日历期对齐
经营现金流CSGSDSGR
| Q4 25 | $59.2M | — | ||
| Q3 25 | $47.9M | $38.4M | ||
| Q2 25 | $37.3M | $33.3M | ||
| Q1 25 | $11.5M | $-4.8M | ||
| Q4 24 | $82.5M | $45.7M | ||
| Q3 24 | $39.5M | $-17.3M | ||
| Q2 24 | $43.1M | $21.4M | ||
| Q1 24 | $-29.4M | $6.6M |
自由现金流CSGSDSGR
| Q4 25 | $55.8M | — | ||
| Q3 25 | $43.9M | $32.9M | ||
| Q2 25 | $34.6M | $28.7M | ||
| Q1 25 | $7.1M | $-10.4M | ||
| Q4 24 | $76.6M | $41.1M | ||
| Q3 24 | $32.0M | $-20.5M | ||
| Q2 24 | $38.8M | $18.0M | ||
| Q1 24 | $-34.1M | $4.2M |
自由现金流率CSGSDSGR
| Q4 25 | 17.3% | — | ||
| Q3 25 | 14.5% | 6.3% | ||
| Q2 25 | 11.6% | 5.7% | ||
| Q1 25 | 2.4% | -2.2% | ||
| Q4 24 | 24.2% | 8.6% | ||
| Q3 24 | 10.8% | -4.4% | ||
| Q2 24 | 13.4% | 4.1% | ||
| Q1 24 | -11.6% | 1.0% |
资本支出强度CSGSDSGR
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.3% | 1.1% | ||
| Q2 25 | 0.9% | 0.9% | ||
| Q1 25 | 1.5% | 1.2% | ||
| Q4 24 | 1.9% | 1.0% | ||
| Q3 24 | 2.5% | 0.7% | ||
| Q2 24 | 1.5% | 0.8% | ||
| Q1 24 | 1.6% | 0.6% |
现金转化率CSGSDSGR
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | 5.95× | ||
| Q2 25 | 3.04× | 6.66× | ||
| Q1 25 | 0.71× | -1.46× | ||
| Q4 24 | 2.39× | — | ||
| Q3 24 | 2.07× | -0.79× | ||
| Q2 24 | 3.12× | 11.28× | ||
| Q1 24 | -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
CSGS
| Software As A Service And Related Solutions | $287.2M | 89% |
| License And Service | $22.6M | 7% |
| Maintenance | $13.3M | 4% |
DSGR
| Test Equity Segment | $206.5M | 40% |
| Gexpro Services Segment | $130.5M | 25% |
| Lawson Segment | $121.5M | 23% |
| Canada Branch Division Segment | $60.0M | 12% |
