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南玻集团（CSGS）与FirstCash Holdings, Inc.（FCFS）财务数据对比。点击上方公司名可切换其他公司
FirstCash Holdings, Inc.的季度营收约是南玻集团的1.6倍（$501.3M vs $323.1M），FirstCash Holdings, Inc.净利率更高（20.8% vs 2.2%，领先18.6%），FirstCash Holdings, Inc.同比增速更快（21.2% vs 2.0%），过去两年FirstCash Holdings, Inc.的营收复合增速更高（16.9% 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。
FirstCash Holdings, Inc.是总部位于美国得克萨斯州沃斯堡的典当企业，在美国及拉丁美洲多地运营线下典当零售门店，为纳斯达克证券交易所公开上市企业，在美洲典当服务领域拥有成熟的业务布局与完善的运营网络。
CSGS vs FCFS — 直观对比
营收规模更大
FCFS
是对方的1.6倍
$323.1M
营收增速更快
FCFS
高出19.1%
2.0%
净利率更高
FCFS
高出18.6%
2.2%
两年增速更快
FCFS
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $501.3M |
| 净利润 | $7.0M | $104.2M |
| 毛利率 | 50.0% | — |
| 营业利润率 | 9.0% | 28.5% |
| 净利率 | 2.2% | 20.8% |
| 营收同比 | 2.0% | 21.2% |
| 净利润同比 | -79.7% | 24.7% |
| 每股收益（稀释后） | $0.24 | $2.35 |
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CSGSFCFS
| Q4 25 | $323.1M | $501.3M | ||
| Q3 25 | $303.6M | $411.0M | ||
| Q2 25 | $297.1M | $385.1M | ||
| Q1 25 | $299.5M | $371.1M | ||
| Q4 24 | $316.7M | $413.7M | ||
| Q3 24 | $295.1M | $363.1M | ||
| Q2 24 | $290.3M | $363.5M | ||
| Q1 24 | $295.1M | $366.8M |
净利润CSGSFCFS
| Q4 25 | $7.0M | $104.2M | ||
| Q3 25 | $20.5M | $82.8M | ||
| Q2 25 | $12.3M | $59.8M | ||
| Q1 25 | $16.1M | $83.6M | ||
| Q4 24 | $34.5M | $83.5M | ||
| Q3 24 | $19.1M | $64.8M | ||
| Q2 24 | $13.8M | $49.1M | ||
| Q1 24 | $19.5M | $61.4M |
毛利率CSGSFCFS
| 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CSGSFCFS
| Q4 25 | 9.0% | 28.5% | ||
| Q3 25 | 10.0% | 27.4% | ||
| Q2 25 | 10.0% | 21.1% | ||
| Q1 25 | 9.8% | 30.0% | ||
| Q4 24 | 13.4% | 26.5% | ||
| Q3 24 | 10.8% | 23.5% | ||
| Q2 24 | 8.8% | 18.2% | ||
| Q1 24 | 10.8% | 22.3% |
净利率CSGSFCFS
| Q4 25 | 2.2% | 20.8% | ||
| Q3 25 | 6.7% | 20.1% | ||
| Q2 25 | 4.1% | 15.5% | ||
| Q1 25 | 5.4% | 22.5% | ||
| Q4 24 | 10.9% | 20.2% | ||
| Q3 24 | 6.5% | 17.9% | ||
| Q2 24 | 4.8% | 13.5% | ||
| Q1 24 | 6.6% | 16.7% |
每股收益（稀释后）CSGSFCFS
| Q4 25 | $0.24 | $2.35 | ||
| Q3 25 | $0.73 | $1.86 | ||
| Q2 25 | $0.44 | $1.34 | ||
| Q1 25 | $0.57 | $1.87 | ||
| Q4 24 | $1.20 | $1.86 | ||
| Q3 24 | $0.67 | $1.44 | ||
| Q2 24 | $0.48 | $1.08 | ||
| Q1 24 | $0.68 | $1.35 |
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 | $125.2M |
| 总债务越低越好 | $539.5M | $2.2B |
| 股东权益账面价值 | $283.7M | $2.3B |
| 总资产 | $1.5B | $5.3B |
| 负债/权益比越低杠杆越低 | 1.90× | 0.98× |
8季度趋势，按日历期对齐
现金及短期投资CSGSFCFS
| Q4 25 | $180.0M | $125.2M | ||
| Q3 25 | $158.4M | $130.2M | ||
| Q2 25 | $145.9M | $101.5M | ||
| Q1 25 | $136.0M | $146.0M | ||
| Q4 24 | $161.8M | $175.1M | ||
| Q3 24 | $118.4M | $106.3M | ||
| Q2 24 | $110.4M | $113.7M | ||
| Q1 24 | $120.8M | $135.1M |
总债务CSGSFCFS
| Q4 25 | $539.5M | $2.2B | ||
| Q3 25 | $538.6M | $2.2B | ||
| Q2 25 | $537.8M | $1.7B | ||
| Q1 25 | $537.6M | $1.7B | ||
| Q4 24 | $538.5M | $1.7B | ||
| Q3 24 | $539.5M | $1.7B | ||
| Q2 24 | $540.5M | $1.7B | ||
| Q1 24 | $541.5M | $1.5B |
股东权益CSGSFCFS
| Q4 25 | $283.7M | $2.3B | ||
| Q3 25 | $289.5M | $2.2B | ||
| Q2 25 | $290.7M | $2.1B | ||
| Q1 25 | $283.1M | $2.1B | ||
| Q4 24 | $282.6M | $2.1B | ||
| Q3 24 | $288.4M | $2.0B | ||
| Q2 24 | $273.3M | $2.0B | ||
| Q1 24 | $269.3M | $2.0B |
总资产CSGSFCFS
| Q4 25 | $1.5B | $5.3B | ||
| Q3 25 | $1.5B | $5.2B | ||
| Q2 25 | $1.4B | $4.5B | ||
| Q1 25 | $1.4B | $4.4B | ||
| Q4 24 | $1.5B | $4.5B | ||
| Q3 24 | $1.4B | $4.4B | ||
| Q2 24 | $1.4B | $4.3B | ||
| Q1 24 | $1.3B | $4.2B |
负债/权益比CSGSFCFS
| Q4 25 | 1.90× | 0.98× | ||
| Q3 25 | 1.86× | 1.01× | ||
| Q2 25 | 1.85× | 0.79× | ||
| Q1 25 | 1.90× | 0.83× | ||
| Q4 24 | 1.91× | 0.85× | ||
| Q3 24 | 1.87× | 0.87× | ||
| Q2 24 | 1.98× | 0.85× | ||
| Q1 24 | 2.01× | 0.75× |
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 | $206.6M |
| 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× | 1.98× |
| 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CSGSFCFS
| Q4 25 | $59.2M | $206.6M | ||
| Q3 25 | $47.9M | $135.8M | ||
| Q2 25 | $37.3M | $116.9M | ||
| Q1 25 | $11.5M | $126.6M | ||
| Q4 24 | $82.5M | $198.1M | ||
| Q3 24 | $39.5M | $113.1M | ||
| Q2 24 | $43.1M | $106.2M | ||
| Q1 24 | $-29.4M | $122.5M |
自由现金流CSGSFCFS
| Q4 25 | $55.8M | — | ||
| Q3 25 | $43.9M | — | ||
| Q2 25 | $34.6M | — | ||
| Q1 25 | $7.1M | — | ||
| Q4 24 | $76.6M | — | ||
| Q3 24 | $32.0M | — | ||
| Q2 24 | $38.8M | — | ||
| Q1 24 | $-34.1M | — |
自由现金流率CSGSFCFS
| Q4 25 | 17.3% | — | ||
| Q3 25 | 14.5% | — | ||
| Q2 25 | 11.6% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 24.2% | — | ||
| Q3 24 | 10.8% | — | ||
| Q2 24 | 13.4% | — | ||
| Q1 24 | -11.6% | — |
资本支出强度CSGSFCFS
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 1.9% | — | ||
| Q3 24 | 2.5% | — | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 1.6% | — |
现金转化率CSGSFCFS
| Q4 25 | 8.46× | 1.98× | ||
| Q3 25 | 2.34× | 1.64× | ||
| Q2 25 | 3.04× | 1.95× | ||
| Q1 25 | 0.71× | 1.51× | ||
| Q4 24 | 2.39× | 2.37× | ||
| Q3 24 | 2.07× | 1.74× | ||
| Q2 24 | 3.12× | 2.16× | ||
| Q1 24 | -1.51× | 2.00× |
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% |
FCFS
| US Pawn Segment | $292.2M | 58% |
| Retail POS Payment Solutions | $209.8M | 42% |
