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南玻集团（CSGS）与EAGLE MATERIALS INC（EXP）财务数据对比。点击上方公司名可切换其他公司
EAGLE MATERIALS INC的季度营收约是南玻集团的1.7倍（$556.0M vs $323.1M），EAGLE MATERIALS INC净利率更高（18.5% vs 2.2%，领先16.3%），南玻集团同比增速更快（2.0% vs -0.4%），EAGLE MATERIALS INC自由现金流更多（$60.8M vs $55.8M），过去两年EAGLE MATERIALS INC的营收复合增速更高（8.0% 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。
Eagle Materials Inc.是总部位于美国得克萨斯州达拉斯的建筑材料生产企业，主营产品包括水泥、混凝土、建筑骨料、石膏、墙板、纸板以及水力压裂作业专用砂，产品广泛应用于建筑施工、能源开发等多个领域。
CSGS vs EXP — 直观对比
营收规模更大
EXP
是对方的1.7倍
$323.1M
营收增速更快
CSGS
高出2.4%
-0.4%
净利率更高
EXP
高出16.3%
2.2%
自由现金流更多
EXP
多$4.9M
$55.8M
两年增速更快
EXP
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $556.0M |
| 净利润 | $7.0M | $102.9M |
| 毛利率 | 50.0% | 28.9% |
| 营业利润率 | 9.0% | — |
| 净利率 | 2.2% | 18.5% |
| 营收同比 | 2.0% | -0.4% |
| 净利润同比 | -79.7% | -13.9% |
| 每股收益（稀释后） | $0.24 | $3.22 |
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CSGSEXP
| Q4 25 | $323.1M | $556.0M | ||
| Q3 25 | $303.6M | $638.9M | ||
| Q2 25 | $297.1M | $634.7M | ||
| Q1 25 | $299.5M | $470.2M | ||
| Q4 24 | $316.7M | $558.0M | ||
| Q3 24 | $295.1M | $623.6M | ||
| Q2 24 | $290.3M | $608.7M | ||
| Q1 24 | $295.1M | $476.7M |
净利润CSGSEXP
| Q4 25 | $7.0M | $102.9M | ||
| Q3 25 | $20.5M | $137.4M | ||
| Q2 25 | $12.3M | $123.4M | ||
| Q1 25 | $16.1M | $66.5M | ||
| Q4 24 | $34.5M | $119.6M | ||
| Q3 24 | $19.1M | $143.5M | ||
| Q2 24 | $13.8M | $133.8M | ||
| Q1 24 | $19.5M | $77.1M |
毛利率CSGSEXP
| Q4 25 | 50.0% | 28.9% | ||
| Q3 25 | 48.1% | 31.3% | ||
| Q2 25 | 49.5% | 29.2% | ||
| Q1 25 | 48.4% | 22.2% | ||
| Q4 24 | 51.3% | 31.9% | ||
| Q3 24 | 49.4% | 32.7% | ||
| Q2 24 | 47.3% | 30.7% | ||
| Q1 24 | 46.5% | 25.1% |
营业利润率CSGSEXP
| Q4 25 | 9.0% | — | ||
| Q3 25 | 10.0% | — | ||
| Q2 25 | 10.0% | — | ||
| Q1 25 | 9.8% | — | ||
| Q4 24 | 13.4% | 32.8% | ||
| Q3 24 | 10.8% | 34.2% | ||
| Q2 24 | 8.8% | 32.0% | ||
| Q1 24 | 10.8% | 26.9% |
净利率CSGSEXP
| Q4 25 | 2.2% | 18.5% | ||
| Q3 25 | 6.7% | 21.5% | ||
| Q2 25 | 4.1% | 19.4% | ||
| Q1 25 | 5.4% | 14.1% | ||
| Q4 24 | 10.9% | 21.4% | ||
| Q3 24 | 6.5% | 23.0% | ||
| Q2 24 | 4.8% | 22.0% | ||
| Q1 24 | 6.6% | 16.2% |
每股收益（稀释后）CSGSEXP
| Q4 25 | $0.24 | $3.22 | ||
| Q3 25 | $0.73 | $4.23 | ||
| Q2 25 | $0.44 | $3.76 | ||
| Q1 25 | $0.57 | $2.01 | ||
| Q4 24 | $1.20 | $3.56 | ||
| Q3 24 | $0.67 | $4.26 | ||
| Q2 24 | $0.48 | $3.94 | ||
| Q1 24 | $0.68 | $2.23 |
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 | $419.0M |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $1.5B |
| 总资产 | $1.5B | $3.8B |
| 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CSGSEXP
| Q4 25 | $180.0M | $419.0M | ||
| Q3 25 | $158.4M | $35.0M | ||
| Q2 25 | $145.9M | $59.7M | ||
| Q1 25 | $136.0M | $20.4M | ||
| Q4 24 | $161.8M | $31.2M | ||
| Q3 24 | $118.4M | $93.9M | ||
| Q2 24 | $110.4M | $46.5M | ||
| Q1 24 | $120.8M | $34.9M |
总债务CSGSEXP
| Q4 25 | $539.5M | — | ||
| Q3 25 | $538.6M | — | ||
| Q2 25 | $537.8M | — | ||
| Q1 25 | $537.6M | $1.2B | ||
| Q4 24 | $538.5M | — | ||
| Q3 24 | $539.5M | — | ||
| Q2 24 | $540.5M | — | ||
| Q1 24 | $541.5M | $1.1B |
股东权益CSGSEXP
| Q4 25 | $283.7M | $1.5B | ||
| Q3 25 | $289.5M | $1.5B | ||
| Q2 25 | $290.7M | $1.5B | ||
| Q1 25 | $283.1M | $1.5B | ||
| Q4 24 | $282.6M | $1.5B | ||
| Q3 24 | $288.4M | $1.4B | ||
| Q2 24 | $273.3M | $1.4B | ||
| Q1 24 | $269.3M | $1.3B |
总资产CSGSEXP
| Q4 25 | $1.5B | $3.8B | ||
| Q3 25 | $1.5B | $3.4B | ||
| Q2 25 | $1.4B | $3.4B | ||
| Q1 25 | $1.4B | $3.3B | ||
| Q4 24 | $1.5B | $3.0B | ||
| Q3 24 | $1.4B | $3.1B | ||
| Q2 24 | $1.4B | $3.0B | ||
| Q1 24 | $1.3B | $2.9B |
负债/权益比CSGSEXP
| Q4 25 | 1.90× | — | ||
| Q3 25 | 1.86× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.90× | 0.86× | ||
| Q4 24 | 1.91× | — | ||
| Q3 24 | 1.87× | — | ||
| Q2 24 | 1.98× | — | ||
| Q1 24 | 2.01× | 0.84× |
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 | $170.8M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $60.8M |
| 自由现金流率自由现金流/营收 | 17.3% | 10.9% |
| 资本支出强度资本支出/营收 | 1.1% | 19.8% |
| 现金转化率经营现金流/净利润 | 8.46× | 1.66× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $231.8M |
8季度趋势，按日历期对齐
经营现金流CSGSEXP
| Q4 25 | $59.2M | $170.8M | ||
| Q3 25 | $47.9M | $204.6M | ||
| Q2 25 | $37.3M | $136.6M | ||
| Q1 25 | $11.5M | $62.8M | ||
| Q4 24 | $82.5M | $119.9M | ||
| Q3 24 | $39.5M | $233.3M | ||
| Q2 24 | $43.1M | $132.6M | ||
| Q1 24 | $-29.4M | $63.4M |
自由现金流CSGSEXP
| Q4 25 | $55.8M | $60.8M | ||
| Q3 25 | $43.9M | $96.1M | ||
| Q2 25 | $34.6M | $60.5M | ||
| Q1 25 | $7.1M | $14.5M | ||
| Q4 24 | $76.6M | $72.5M | ||
| Q3 24 | $32.0M | $166.8M | ||
| Q2 24 | $38.8M | $99.5M | ||
| Q1 24 | $-34.1M | $30.9M |
自由现金流率CSGSEXP
| Q4 25 | 17.3% | 10.9% | ||
| Q3 25 | 14.5% | 15.0% | ||
| Q2 25 | 11.6% | 9.5% | ||
| Q1 25 | 2.4% | 3.1% | ||
| Q4 24 | 24.2% | 13.0% | ||
| Q3 24 | 10.8% | 26.7% | ||
| Q2 24 | 13.4% | 16.3% | ||
| Q1 24 | -11.6% | 6.5% |
资本支出强度CSGSEXP
| Q4 25 | 1.1% | 19.8% | ||
| Q3 25 | 1.3% | 17.0% | ||
| Q2 25 | 0.9% | 12.0% | ||
| Q1 25 | 1.5% | 10.3% | ||
| Q4 24 | 1.9% | 8.5% | ||
| Q3 24 | 2.5% | 10.7% | ||
| Q2 24 | 1.5% | 5.4% | ||
| Q1 24 | 1.6% | 6.8% |
现金转化率CSGSEXP
| Q4 25 | 8.46× | 1.66× | ||
| Q3 25 | 2.34× | 1.49× | ||
| Q2 25 | 3.04× | 1.11× | ||
| Q1 25 | 0.71× | 0.94× | ||
| Q4 24 | 2.39× | 1.00× | ||
| Q3 24 | 2.07× | 1.63× | ||
| Q2 24 | 3.12× | 0.99× | ||
| Q1 24 | -1.51× | 0.82× |
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% |
EXP
| External Customers | $283.5M | 51% |
| Gypsum Wallboard | $175.9M | 32% |
| Recycled Paperboard | $47.8M | 9% |
| Corporate Joint Venture | $29.4M | 5% |
| Other | $11.8M | 2% |
| Western Pennsylvania Acquisition | $7.6M | 1% |
