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南玻集团（CSGS）与EPR PROPERTIES（EPR）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EPR PROPERTIES的1.8倍（$323.1M vs $182.9M），EPR PROPERTIES净利率更高（36.6% vs 2.2%，领先34.4%），EPR PROPERTIES同比增速更快（3.2% vs 2.0%），EPR PROPERTIES自由现金流更多（$269.2M vs $55.8M），过去两年南玻集团的营收复合增速更高（4.6% 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。
EPR地产（前身为娱乐地产信托）是总部位于美国密苏里州堪萨斯城的房地产投资信托企业，专注投资游乐园、电影院、滑雪度假村等娱乐类地产项目，截至2022年共持有353处物业。
CSGS vs EPR — 直观对比
营收规模更大
CSGS
是对方的1.8倍
$182.9M
营收增速更快
EPR
高出1.2%
2.0%
净利率更高
EPR
高出34.4%
2.2%
自由现金流更多
EPR
多$213.4M
$55.8M
两年增速更快
CSGS
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $182.9M |
| 净利润 | $7.0M | $66.9M |
| 毛利率 | 50.0% | — |
| 营业利润率 | 9.0% | 56.8% |
| 净利率 | 2.2% | 36.6% |
| 营收同比 | 2.0% | 3.2% |
| 净利润同比 | -79.7% | 897.0% |
| 每股收益（稀释后） | $0.24 | $0.80 |
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CSGSEPR
| Q4 25 | $323.1M | $182.9M | ||
| Q3 25 | $303.6M | $182.3M | ||
| Q2 25 | $297.1M | $178.1M | ||
| Q1 25 | $299.5M | $175.0M | ||
| Q4 24 | $316.7M | $177.2M | ||
| Q3 24 | $295.1M | $180.5M | ||
| Q2 24 | $290.3M | $173.1M | ||
| Q1 24 | $295.1M | $167.2M |
净利润CSGSEPR
| Q4 25 | $7.0M | $66.9M | ||
| Q3 25 | $20.5M | $66.6M | ||
| Q2 25 | $12.3M | $75.6M | ||
| Q1 25 | $16.1M | $65.8M | ||
| Q4 24 | $34.5M | $-8.4M | ||
| Q3 24 | $19.1M | $46.6M | ||
| Q2 24 | $13.8M | $45.1M | ||
| Q1 24 | $19.5M | $62.7M |
毛利率CSGSEPR
| 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CSGSEPR
| Q4 25 | 9.0% | 56.8% | ||
| Q3 25 | 10.0% | 53.5% | ||
| Q2 25 | 10.0% | 62.5% | ||
| Q1 25 | 9.8% | 58.1% | ||
| Q4 24 | 13.4% | 25.5% | ||
| Q3 24 | 10.8% | 51.4% | ||
| Q2 24 | 8.8% | 45.9% | ||
| Q1 24 | 10.8% | 58.8% |
净利率CSGSEPR
| Q4 25 | 2.2% | 36.6% | ||
| Q3 25 | 6.7% | 36.5% | ||
| Q2 25 | 4.1% | 42.5% | ||
| Q1 25 | 5.4% | 37.6% | ||
| Q4 24 | 10.9% | -4.7% | ||
| Q3 24 | 6.5% | 25.8% | ||
| Q2 24 | 4.8% | 26.1% | ||
| Q1 24 | 6.6% | 37.5% |
每股收益（稀释后）CSGSEPR
| Q4 25 | $0.24 | $0.80 | ||
| Q3 25 | $0.73 | $0.79 | ||
| Q2 25 | $0.44 | $0.91 | ||
| Q1 25 | $0.57 | $0.78 | ||
| Q4 24 | $1.20 | $-0.19 | ||
| Q3 24 | $0.67 | $0.53 | ||
| Q2 24 | $0.48 | $0.51 | ||
| Q1 24 | $0.68 | $0.75 |
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 | $90.6M |
| 总债务越低越好 | $539.5M | $2.9B |
| 股东权益账面价值 | $283.7M | $2.3B |
| 总资产 | $1.5B | $5.7B |
| 负债/权益比越低杠杆越低 | 1.90× | 1.26× |
8季度趋势，按日历期对齐
现金及短期投资CSGSEPR
| Q4 25 | $180.0M | $90.6M | ||
| Q3 25 | $158.4M | $13.7M | ||
| Q2 25 | $145.9M | $13.0M | ||
| Q1 25 | $136.0M | $20.6M | ||
| Q4 24 | $161.8M | $22.1M | ||
| Q3 24 | $118.4M | $35.3M | ||
| Q2 24 | $110.4M | $33.7M | ||
| Q1 24 | $120.8M | $59.5M |
总债务CSGSEPR
| Q4 25 | $539.5M | $2.9B | ||
| Q3 25 | $538.6M | $2.8B | ||
| Q2 25 | $537.8M | $2.8B | ||
| Q1 25 | $537.6M | $2.8B | ||
| Q4 24 | $538.5M | $2.9B | ||
| Q3 24 | $539.5M | $2.9B | ||
| Q2 24 | $540.5M | $2.8B | ||
| Q1 24 | $541.5M | $2.8B |
股东权益CSGSEPR
| Q4 25 | $283.7M | $2.3B | ||
| Q3 25 | $289.5M | $2.3B | ||
| Q2 25 | $290.7M | $2.3B | ||
| Q1 25 | $283.1M | $2.3B | ||
| Q4 24 | $282.6M | $2.3B | ||
| Q3 24 | $288.4M | $2.4B | ||
| Q2 24 | $273.3M | $2.4B | ||
| Q1 24 | $269.3M | $2.4B |
总资产CSGSEPR
| Q4 25 | $1.5B | $5.7B | ||
| Q3 25 | $1.5B | $5.5B | ||
| Q2 25 | $1.4B | $5.6B | ||
| Q1 25 | $1.4B | $5.5B | ||
| Q4 24 | $1.5B | $5.6B | ||
| Q3 24 | $1.4B | $5.7B | ||
| Q2 24 | $1.4B | $5.6B | ||
| Q1 24 | $1.3B | $5.7B |
负债/权益比CSGSEPR
| Q4 25 | 1.90× | 1.26× | ||
| Q3 25 | 1.86× | 1.19× | ||
| Q2 25 | 1.85× | 1.20× | ||
| Q1 25 | 1.90× | 1.20× | ||
| Q4 24 | 1.91× | 1.23× | ||
| Q3 24 | 1.87× | 1.19× | ||
| Q2 24 | 1.98× | 1.16× | ||
| Q1 24 | 2.01× | 1.15× |
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 | $421.0M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $269.2M |
| 自由现金流率自由现金流/营收 | 17.3% | 147.1% |
| 资本支出强度资本支出/营收 | 1.1% | 82.9% |
| 现金转化率经营现金流/净利润 | 8.46× | 6.29× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $568.5M |
8季度趋势，按日历期对齐
经营现金流CSGSEPR
| Q4 25 | $59.2M | $421.0M | ||
| Q3 25 | $47.9M | $136.5M | ||
| Q2 25 | $37.3M | $87.3M | ||
| Q1 25 | $11.5M | $99.4M | ||
| Q4 24 | $82.5M | $393.1M | ||
| Q3 24 | $39.5M | $122.0M | ||
| Q2 24 | $43.1M | $78.7M | ||
| Q1 24 | $-29.4M | $99.5M |
自由现金流CSGSEPR
| Q4 25 | $55.8M | $269.2M | ||
| Q3 25 | $43.9M | $132.1M | ||
| Q2 25 | $34.6M | $82.4M | ||
| Q1 25 | $7.1M | $84.7M | ||
| Q4 24 | $76.6M | $129.2M | ||
| Q3 24 | $32.0M | $121.5M | ||
| Q2 24 | $38.8M | $71.3M | ||
| Q1 24 | $-34.1M | $65.0M |
自由现金流率CSGSEPR
| Q4 25 | 17.3% | 147.1% | ||
| Q3 25 | 14.5% | 72.5% | ||
| Q2 25 | 11.6% | 46.3% | ||
| Q1 25 | 2.4% | 48.4% | ||
| Q4 24 | 24.2% | 72.9% | ||
| Q3 24 | 10.8% | 67.3% | ||
| Q2 24 | 13.4% | 41.2% | ||
| Q1 24 | -11.6% | 38.9% |
资本支出强度CSGSEPR
| Q4 25 | 1.1% | 82.9% | ||
| Q3 25 | 1.3% | 2.4% | ||
| Q2 25 | 0.9% | 2.7% | ||
| Q1 25 | 1.5% | 8.4% | ||
| Q4 24 | 1.9% | 148.9% | ||
| Q3 24 | 2.5% | 0.3% | ||
| Q2 24 | 1.5% | 4.2% | ||
| Q1 24 | 1.6% | 20.6% |
现金转化率CSGSEPR
| Q4 25 | 8.46× | 6.29× | ||
| Q3 25 | 2.34× | 2.05× | ||
| Q2 25 | 3.04× | 1.15× | ||
| Q1 25 | 0.71× | 1.51× | ||
| Q4 24 | 2.39× | — | ||
| Q3 24 | 2.07× | 2.62× | ||
| Q2 24 | 3.12× | 1.74× | ||
| Q1 24 | -1.51× | 1.59× |
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% |
EPR
| Experiential Reportable Operating Segment | $173.3M | 95% |
| Education Reportable Operating Segment | $9.5M | 5% |
