vs
南玻集团（CSGS）与Fidelity National Financial, Inc.（FNF）财务数据对比。点击上方公司名可切换其他公司
Fidelity National Financial, Inc.的季度营收约是南玻集团的1.7倍（$544.0M vs $323.1M），南玻集团净利率更高（2.2% vs -21.5%，领先23.7%），Fidelity National Financial, Inc.同比增速更快（10.3% vs 2.0%），过去两年Fidelity National Financial, Inc.的营收复合增速更高（13.7% 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。
富达国民金融是美国财富500强企业，主要面向房地产与抵押贷款行业提供产权保险及交割服务，2019年其产权及房地产业务相关年度营收约为84.69亿美元，是全球领先的产权保险服务供应商。
CSGS vs FNF — 直观对比
营收规模更大
FNF
是对方的1.7倍
$323.1M
营收增速更快
FNF
高出8.3%
2.0%
净利率更高
CSGS
高出23.7%
-21.5%
两年增速更快
FNF
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $544.0M |
| 净利润 | $7.0M | $-117.0M |
| 毛利率 | 50.0% | — |
| 营业利润率 | 9.0% | 82.9% |
| 净利率 | 2.2% | -21.5% |
| 营收同比 | 2.0% | 10.3% |
| 净利润同比 | -79.7% | -126.0% |
| 每股收益（稀释后） | $0.24 | $-0.44 |
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CSGSFNF
| Q4 25 | $323.1M | $544.0M | ||
| Q3 25 | $303.6M | $553.0M | ||
| Q2 25 | $297.1M | $547.0M | ||
| Q1 25 | $299.5M | $455.0M | ||
| Q4 24 | $316.7M | $493.0M | ||
| Q3 24 | $295.1M | $506.0M | ||
| Q2 24 | $290.3M | $504.0M | ||
| Q1 24 | $295.1M | $421.0M |
净利润CSGSFNF
| Q4 25 | $7.0M | $-117.0M | ||
| Q3 25 | $20.5M | $358.0M | ||
| Q2 25 | $12.3M | $278.0M | ||
| Q1 25 | $16.1M | $83.0M | ||
| Q4 24 | $34.5M | $450.0M | ||
| Q3 24 | $19.1M | $266.0M | ||
| Q2 24 | $13.8M | $306.0M | ||
| Q1 24 | $19.5M | $248.0M |
毛利率CSGSFNF
| 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CSGSFNF
| Q4 25 | 9.0% | 82.9% | ||
| Q3 25 | 10.0% | 81.9% | ||
| Q2 25 | 10.0% | 69.8% | ||
| Q1 25 | 9.8% | 24.4% | ||
| Q4 24 | 13.4% | — | ||
| Q3 24 | 10.8% | 61.9% | ||
| Q2 24 | 8.8% | 90.9% | ||
| Q1 24 | 10.8% | 78.6% |
净利率CSGSFNF
| Q4 25 | 2.2% | -21.5% | ||
| Q3 25 | 6.7% | 64.7% | ||
| Q2 25 | 4.1% | 50.8% | ||
| Q1 25 | 5.4% | 18.2% | ||
| Q4 24 | 10.9% | 91.3% | ||
| Q3 24 | 6.5% | 52.6% | ||
| Q2 24 | 4.8% | 60.7% | ||
| Q1 24 | 6.6% | 58.9% |
每股收益（稀释后）CSGSFNF
| Q4 25 | $0.24 | $-0.44 | ||
| Q3 25 | $0.73 | $1.33 | ||
| Q2 25 | $0.44 | $1.02 | ||
| Q1 25 | $0.57 | $0.30 | ||
| Q4 24 | $1.20 | $1.65 | ||
| Q3 24 | $0.67 | $0.97 | ||
| Q2 24 | $0.48 | $1.12 | ||
| Q1 24 | $0.68 | $0.91 |
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 | $2.6B |
| 总债务越低越好 | $539.5M | $4.4B |
| 股东权益账面价值 | $283.7M | $7.4B |
| 总资产 | $1.5B | $109.0B |
| 负债/权益比越低杠杆越低 | 1.90× | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资CSGSFNF
| Q4 25 | $180.0M | $2.6B | ||
| Q3 25 | $158.4M | $3.5B | ||
| Q2 25 | $145.9M | $3.3B | ||
| Q1 25 | $136.0M | $4.5B | ||
| Q4 24 | $161.8M | $3.5B | ||
| Q3 24 | $118.4M | $5.0B | ||
| Q2 24 | $110.4M | $4.9B | ||
| Q1 24 | $120.8M | $3.5B |
总债务CSGSFNF
| Q4 25 | $539.5M | $4.4B | ||
| Q3 25 | $538.6M | $4.4B | ||
| Q2 25 | $537.8M | $4.4B | ||
| Q1 25 | $537.6M | $4.4B | ||
| Q4 24 | $538.5M | $4.3B | ||
| Q3 24 | $539.5M | $4.2B | ||
| Q2 24 | $540.5M | $4.2B | ||
| Q1 24 | $541.5M | $3.9B |
股东权益CSGSFNF
| Q4 25 | $283.7M | $7.4B | ||
| Q3 25 | $289.5M | $8.4B | ||
| Q2 25 | $290.7M | $7.9B | ||
| Q1 25 | $283.1M | $7.9B | ||
| Q4 24 | $282.6M | $7.8B | ||
| Q3 24 | $288.4M | $8.1B | ||
| Q2 24 | $273.3M | $7.3B | ||
| Q1 24 | $269.3M | $7.1B |
总资产CSGSFNF
| Q4 25 | $1.5B | $109.0B | ||
| Q3 25 | $1.5B | $106.6B | ||
| Q2 25 | $1.4B | $102.3B | ||
| Q1 25 | $1.4B | $98.2B | ||
| Q4 24 | $1.5B | $95.4B | ||
| Q3 24 | $1.4B | $94.7B | ||
| Q2 24 | $1.4B | $88.8B | ||
| Q1 24 | $1.3B | $84.5B |
负债/权益比CSGSFNF
| Q4 25 | 1.90× | 0.59× | ||
| Q3 25 | 1.86× | 0.53× | ||
| Q2 25 | 1.85× | 0.56× | ||
| Q1 25 | 1.90× | 0.56× | ||
| Q4 24 | 1.91× | 0.56× | ||
| Q3 24 | 1.87× | 0.52× | ||
| Q2 24 | 1.98× | 0.58× | ||
| Q1 24 | 2.01× | 0.55× |
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 | $1.5B |
| 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× | — |
| 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CSGSFNF
| Q4 25 | $59.2M | $1.5B | ||
| Q3 25 | $47.9M | $1.3B | ||
| Q2 25 | $37.3M | $1.9B | ||
| Q1 25 | $11.5M | $1.1B | ||
| Q4 24 | $82.5M | $1.5B | ||
| Q3 24 | $39.5M | $2.4B | ||
| Q2 24 | $43.1M | $1.4B | ||
| Q1 24 | $-29.4M | $1.6B |
自由现金流CSGSFNF
| 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CSGSFNF
| 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CSGSFNF
| 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CSGSFNF
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | 3.66× | ||
| Q2 25 | 3.04× | 6.82× | ||
| Q1 25 | 0.71× | 13.43× | ||
| Q4 24 | 2.39× | 3.32× | ||
| Q3 24 | 2.07× | 8.89× | ||
| Q2 24 | 3.12× | 4.45× | ||
| Q1 24 | -1.51× | 6.42× |
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% |
FNF
| Escrow Fees | $241.0M | 44% |
| Other Title Related Fees And Income | $182.0M | 33% |
| Service Link Excluding Title Premiums Escrow Fees And Subservicing Fees | $87.0M | 16% |
| Insurance Contracts Home Warranty | $31.0M | 6% |
