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南玻集团（CSGS）与化石集团（FOSL）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化石集团的1.2倍（$323.1M vs $270.2M），南玻集团净利率更高（2.2% vs -14.8%，领先17.0%），南玻集团同比增速更快（2.0% vs -21.1%），南玻集团自由现金流更多（$55.8M vs $-22.5M），过去两年南玻集团的营收复合增速更高（4.6% vs -11.4%）
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。
化石集团是1984年成立的美国时尚设计制造企业，总部位于得克萨斯州理查森。集团旗下拥有Fossil、Relic、Michele Watch、Skagen、Zodiac Watches等多个品牌，同时也为宝马、彪马、阿玛尼、迈克高仕、DKNY等多个知名品牌代工生产授权配饰。
CSGS vs FOSL — 直观对比
营收规模更大
CSGS
是对方的1.2倍
$270.2M
营收增速更快
CSGS
高出23.1%
-21.1%
净利率更高
CSGS
高出17.0%
-14.8%
自由现金流更多
CSGS
多$78.3M
$-22.5M
两年增速更快
CSGS
近两年复合增速
-11.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $270.2M |
| 净利润 | $7.0M | $-40.0M |
| 毛利率 | 50.0% | 49.0% |
| 营业利润率 | 9.0% | -8.0% |
| 净利率 | 2.2% | -14.8% |
| 营收同比 | 2.0% | -21.1% |
| 净利润同比 | -79.7% | -257.8% |
| 每股收益（稀释后） | $0.24 | $-0.76 |
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CSGSFOSL
| Q4 25 | $323.1M | $270.2M | ||
| Q3 25 | $303.6M | $220.4M | ||
| Q2 25 | $297.1M | $233.3M | ||
| Q1 25 | $299.5M | — | ||
| Q4 24 | $316.7M | $342.3M | ||
| Q3 24 | $295.1M | $287.8M | ||
| Q2 24 | $290.3M | $260.0M | ||
| Q1 24 | $295.1M | $254.9M |
净利润CSGSFOSL
| Q4 25 | $7.0M | $-40.0M | ||
| Q3 25 | $20.5M | $-2.1M | ||
| Q2 25 | $12.3M | $-17.9M | ||
| Q1 25 | $16.1M | — | ||
| Q4 24 | $34.5M | $-11.2M | ||
| Q3 24 | $19.1M | $-31.9M | ||
| Q2 24 | $13.8M | $-38.8M | ||
| Q1 24 | $19.5M | $-24.3M |
毛利率CSGSFOSL
| Q4 25 | 50.0% | 49.0% | ||
| Q3 25 | 48.1% | 57.5% | ||
| Q2 25 | 49.5% | 61.3% | ||
| Q1 25 | 48.4% | — | ||
| Q4 24 | 51.3% | 53.9% | ||
| Q3 24 | 49.4% | 49.4% | ||
| Q2 24 | 47.3% | 52.6% | ||
| Q1 24 | 46.5% | 52.4% |
营业利润率CSGSFOSL
| Q4 25 | 9.0% | -8.0% | ||
| Q3 25 | 10.0% | 3.9% | ||
| Q2 25 | 10.0% | -2.9% | ||
| Q1 25 | 9.8% | — | ||
| Q4 24 | 13.4% | -4.8% | ||
| Q3 24 | 10.8% | -8.5% | ||
| Q2 24 | 8.8% | -13.1% | ||
| Q1 24 | 10.8% | -11.5% |
净利率CSGSFOSL
| Q4 25 | 2.2% | -14.8% | ||
| Q3 25 | 6.7% | -1.0% | ||
| Q2 25 | 4.1% | -7.7% | ||
| Q1 25 | 5.4% | — | ||
| Q4 24 | 10.9% | -3.3% | ||
| Q3 24 | 6.5% | -11.1% | ||
| Q2 24 | 4.8% | -14.9% | ||
| Q1 24 | 6.6% | -9.5% |
每股收益（稀释后）CSGSFOSL
| Q4 25 | $0.24 | $-0.76 | ||
| Q3 25 | $0.73 | $-0.04 | ||
| Q2 25 | $0.44 | $-0.33 | ||
| Q1 25 | $0.57 | — | ||
| Q4 24 | $1.20 | $-0.15 | ||
| Q3 24 | $0.67 | $-0.60 | ||
| Q2 24 | $0.48 | $-0.73 | ||
| Q1 24 | $0.68 | $-0.46 |
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 | $79.2M |
| 总债务越低越好 | $539.5M | $169.1M |
| 股东权益账面价值 | $283.7M | $112.6M |
| 总资产 | $1.5B | $701.0M |
| 负债/权益比越低杠杆越低 | 1.90× | 1.50× |
8季度趋势，按日历期对齐
现金及短期投资CSGSFOSL
| Q4 25 | $180.0M | $79.2M | ||
| Q3 25 | $158.4M | $109.9M | ||
| Q2 25 | $145.9M | $78.3M | ||
| Q1 25 | $136.0M | — | ||
| Q4 24 | $161.8M | $123.6M | ||
| Q3 24 | $118.4M | $106.3M | ||
| Q2 24 | $110.4M | $104.9M | ||
| Q1 24 | $120.8M | $112.9M |
总债务CSGSFOSL
| Q4 25 | $539.5M | $169.1M | ||
| Q3 25 | $538.6M | $165.6M | ||
| Q2 25 | $537.8M | $167.2M | ||
| Q1 25 | $537.6M | — | ||
| Q4 24 | $538.5M | $162.7M | ||
| Q3 24 | $539.5M | $173.4M | ||
| Q2 24 | $540.5M | $156.5M | ||
| Q1 24 | $541.5M | $202.9M |
股东权益CSGSFOSL
| Q4 25 | $283.7M | $112.6M | ||
| Q3 25 | $289.5M | $150.3M | ||
| Q2 25 | $290.7M | $140.6M | ||
| Q1 25 | $283.1M | — | ||
| Q4 24 | $282.6M | $148.7M | ||
| Q3 24 | $288.4M | $164.4M | ||
| Q2 24 | $273.3M | $189.6M | ||
| Q1 24 | $269.3M | $229.1M |
总资产CSGSFOSL
| Q4 25 | $1.5B | $701.0M | ||
| Q3 25 | $1.5B | $704.5M | ||
| Q2 25 | $1.4B | $686.0M | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.5B | $763.6M | ||
| Q3 24 | $1.4B | $812.4M | ||
| Q2 24 | $1.4B | $785.7M | ||
| Q1 24 | $1.3B | $891.0M |
负债/权益比CSGSFOSL
| Q4 25 | 1.90× | 1.50× | ||
| Q3 25 | 1.86× | 1.10× | ||
| Q2 25 | 1.85× | 1.19× | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 1.91× | 1.09× | ||
| Q3 24 | 1.87× | 1.06× | ||
| Q2 24 | 1.98× | 0.83× | ||
| Q1 24 | 2.01× | 0.89× |
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 | $-22.2M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $-22.5M |
| 自由现金流率自由现金流/营收 | 17.3% | -8.3% |
| 资本支出强度资本支出/营收 | 1.1% | 0.1% |
| 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 | $-46.0M |
8季度趋势，按日历期对齐
经营现金流CSGSFOSL
| Q4 25 | $59.2M | $-22.2M | ||
| Q3 25 | $47.9M | $9.4M | ||
| Q2 25 | $37.3M | $-60.4M | ||
| Q1 25 | $11.5M | — | ||
| Q4 24 | $82.5M | $30.5M | ||
| Q3 24 | $39.5M | $-22.8M | ||
| Q2 24 | $43.1M | $38.4M | ||
| Q1 24 | $-29.4M | $622.0K |
自由现金流CSGSFOSL
| Q4 25 | $55.8M | $-22.5M | ||
| Q3 25 | $43.9M | $8.6M | ||
| Q2 25 | $34.6M | $-60.6M | ||
| Q1 25 | $7.1M | — | ||
| Q4 24 | $76.6M | $28.5M | ||
| Q3 24 | $32.0M | $-24.1M | ||
| Q2 24 | $38.8M | $36.6M | ||
| Q1 24 | $-34.1M | $-1.1M |
自由现金流率CSGSFOSL
| Q4 25 | 17.3% | -8.3% | ||
| Q3 25 | 14.5% | 3.9% | ||
| Q2 25 | 11.6% | -26.0% | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 24.2% | 8.3% | ||
| Q3 24 | 10.8% | -8.4% | ||
| Q2 24 | 13.4% | 14.1% | ||
| Q1 24 | -11.6% | -0.4% |
资本支出强度CSGSFOSL
| Q4 25 | 1.1% | 0.1% | ||
| Q3 25 | 1.3% | 0.4% | ||
| Q2 25 | 0.9% | 0.1% | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 1.9% | 0.6% | ||
| Q3 24 | 2.5% | 0.4% | ||
| Q2 24 | 1.5% | 0.7% | ||
| Q1 24 | 1.6% | 0.7% |
现金转化率CSGSFOSL
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | — | ||
| Q2 25 | 3.04× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 2.39× | — | ||
| Q3 24 | 2.07× | — | ||
| Q2 24 | 3.12× | — | ||
| 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% |
FOSL
| Transferred At Point In Time | $109.7M | 41% |
| Traditional Watches | $91.3M | 34% |
| Other | $50.8M | 19% |
| Leathers | $9.5M | 4% |
| Jewelry | $4.0M | 1% |
| Smartwatches | $3.3M | 1% |
| Products Other | $1.6M | 1% |
