vs
南玻集团（CSGS）与HALOZYME THERAPEUTICS, INC.（HALO）财务数据对比。点击上方公司名可切换其他公司
HALOZYME THERAPEUTICS, INC.的季度营收约是南玻集团的1.4倍（$451.8M vs $323.1M），南玻集团净利率更高（2.2% vs -31.3%，领先33.5%），HALOZYME THERAPEUTICS, INC.同比增速更快（51.6% vs 2.0%），HALOZYME THERAPEUTICS, INC.自由现金流更多（$217.6M vs $55.8M），过去两年HALOZYME THERAPEUTICS, INC.的营收复合增速更高（51.9% 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。
Halozyme Therapeutics是一家美国生物技术企业，专注于肿瘤领域创新疗法研发，核心管线均针对肿瘤微环境进行靶向干预，致力于为全球癌症患者提供更安全高效的治疗选择。
CSGS vs HALO — 直观对比
营收规模更大
HALO
是对方的1.4倍
$323.1M
营收增速更快
HALO
高出49.6%
2.0%
净利率更高
CSGS
高出33.5%
-31.3%
自由现金流更多
HALO
多$161.8M
$55.8M
两年增速更快
HALO
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $451.8M |
| 净利润 | $7.0M | $-141.6M |
| 毛利率 | 50.0% | 82.6% |
| 营业利润率 | 9.0% | -20.6% |
| 净利率 | 2.2% | -31.3% |
| 营收同比 | 2.0% | 51.6% |
| 净利润同比 | -79.7% | -203.3% |
| 每股收益（稀释后） | $0.24 | $-1.13 |
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CSGSHALO
| Q4 25 | $323.1M | $451.8M | ||
| Q3 25 | $303.6M | $354.3M | ||
| Q2 25 | $297.1M | $325.7M | ||
| Q1 25 | $299.5M | $264.9M | ||
| Q4 24 | $316.7M | $298.0M | ||
| Q3 24 | $295.1M | $290.1M | ||
| Q2 24 | $290.3M | $231.4M | ||
| Q1 24 | $295.1M | $195.9M |
净利润CSGSHALO
| Q4 25 | $7.0M | $-141.6M | ||
| Q3 25 | $20.5M | $175.2M | ||
| Q2 25 | $12.3M | $165.2M | ||
| Q1 25 | $16.1M | $118.1M | ||
| Q4 24 | $34.5M | $137.0M | ||
| Q3 24 | $19.1M | $137.0M | ||
| Q2 24 | $13.8M | $93.2M | ||
| Q1 24 | $19.5M | $76.8M |
毛利率CSGSHALO
| Q4 25 | 50.0% | 82.6% | ||
| Q3 25 | 48.1% | 84.4% | ||
| Q2 25 | 49.5% | 85.8% | ||
| Q1 25 | 48.4% | 81.7% | ||
| Q4 24 | 51.3% | 85.9% | ||
| Q3 24 | 49.4% | 83.0% | ||
| Q2 24 | 47.3% | 82.9% | ||
| Q1 24 | 46.5% | 85.5% |
营业利润率CSGSHALO
| Q4 25 | 9.0% | -20.6% | ||
| Q3 25 | 10.0% | 61.5% | ||
| Q2 25 | 10.0% | 62.2% | ||
| Q1 25 | 9.8% | 53.4% | ||
| Q4 24 | 13.4% | 58.9% | ||
| Q3 24 | 10.8% | 56.3% | ||
| Q2 24 | 8.8% | 50.7% | ||
| Q1 24 | 10.8% | 48.8% |
净利率CSGSHALO
| Q4 25 | 2.2% | -31.3% | ||
| Q3 25 | 6.7% | 49.5% | ||
| Q2 25 | 4.1% | 50.7% | ||
| Q1 25 | 5.4% | 44.6% | ||
| Q4 24 | 10.9% | 46.0% | ||
| Q3 24 | 6.5% | 47.2% | ||
| Q2 24 | 4.8% | 40.3% | ||
| Q1 24 | 6.6% | 39.2% |
每股收益（稀释后）CSGSHALO
| Q4 25 | $0.24 | $-1.13 | ||
| Q3 25 | $0.73 | $1.43 | ||
| Q2 25 | $0.44 | $1.33 | ||
| Q1 25 | $0.57 | $0.93 | ||
| Q4 24 | $1.20 | $1.06 | ||
| Q3 24 | $0.67 | $1.05 | ||
| Q2 24 | $0.48 | $0.72 | ||
| Q1 24 | $0.68 | $0.60 |
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 | $133.8M |
| 总债务越低越好 | $539.5M | $2.1B |
| 股东权益账面价值 | $283.7M | $48.8M |
| 总资产 | $1.5B | $2.5B |
| 负债/权益比越低杠杆越低 | 1.90× | 43.89× |
8季度趋势，按日历期对齐
现金及短期投资CSGSHALO
| Q4 25 | $180.0M | $133.8M | ||
| Q3 25 | $158.4M | $419.7M | ||
| Q2 25 | $145.9M | $61.9M | ||
| Q1 25 | $136.0M | $176.3M | ||
| Q4 24 | $161.8M | $115.8M | ||
| Q3 24 | $118.4M | $154.3M | ||
| Q2 24 | $110.4M | $187.9M | ||
| Q1 24 | $120.8M | $164.6M |
总债务CSGSHALO
| Q4 25 | $539.5M | $2.1B | ||
| Q3 25 | $538.6M | $1.5B | ||
| Q2 25 | $537.8M | $1.5B | ||
| Q1 25 | $537.6M | $1.5B | ||
| Q4 24 | $538.5M | $1.5B | ||
| Q3 24 | $539.5M | $1.5B | ||
| Q2 24 | $540.5M | $1.5B | ||
| Q1 24 | $541.5M | $1.5B |
股东权益CSGSHALO
| Q4 25 | $283.7M | $48.8M | ||
| Q3 25 | $289.5M | $503.9M | ||
| Q2 25 | $290.7M | $332.7M | ||
| Q1 25 | $283.1M | $482.3M | ||
| Q4 24 | $282.6M | $363.8M | ||
| Q3 24 | $288.4M | $452.7M | ||
| Q2 24 | $273.3M | $289.4M | ||
| Q1 24 | $269.3M | $177.8M |
总资产CSGSHALO
| Q4 25 | $1.5B | $2.5B | ||
| Q3 25 | $1.5B | $2.2B | ||
| Q2 25 | $1.4B | $2.1B | ||
| Q1 25 | $1.4B | $2.2B | ||
| Q4 24 | $1.5B | $2.1B | ||
| Q3 24 | $1.4B | $2.1B | ||
| Q2 24 | $1.4B | $2.0B | ||
| Q1 24 | $1.3B | $1.8B |
负债/权益比CSGSHALO
| Q4 25 | 1.90× | 43.89× | ||
| Q3 25 | 1.86× | 3.00× | ||
| Q2 25 | 1.85× | 4.54× | ||
| Q1 25 | 1.90× | 3.13× | ||
| Q4 24 | 1.91× | 4.14× | ||
| Q3 24 | 1.87× | 3.32× | ||
| Q2 24 | 1.98× | 5.19× | ||
| Q1 24 | 2.01× | 8.44× |
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 | $219.0M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $217.6M |
| 自由现金流率自由现金流/营收 | 17.3% | 48.2% |
| 资本支出强度资本支出/营收 | 1.1% | 0.3% |
| 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 | $644.6M |
8季度趋势，按日历期对齐
经营现金流CSGSHALO
| Q4 25 | $59.2M | $219.0M | ||
| Q3 25 | $47.9M | $178.6M | ||
| Q2 25 | $37.3M | $99.7M | ||
| Q1 25 | $11.5M | $154.2M | ||
| Q4 24 | $82.5M | $178.5M | ||
| Q3 24 | $39.5M | $115.4M | ||
| Q2 24 | $43.1M | $55.8M | ||
| Q1 24 | $-29.4M | $129.4M |
自由现金流CSGSHALO
| Q4 25 | $55.8M | $217.6M | ||
| Q3 25 | $43.9M | $175.6M | ||
| Q2 25 | $34.6M | $98.1M | ||
| Q1 25 | $7.1M | $153.3M | ||
| Q4 24 | $76.6M | $175.4M | ||
| Q3 24 | $32.0M | $113.9M | ||
| Q2 24 | $38.8M | $53.2M | ||
| Q1 24 | $-34.1M | $125.9M |
自由现金流率CSGSHALO
| Q4 25 | 17.3% | 48.2% | ||
| Q3 25 | 14.5% | 49.6% | ||
| Q2 25 | 11.6% | 30.1% | ||
| Q1 25 | 2.4% | 57.9% | ||
| Q4 24 | 24.2% | 58.9% | ||
| Q3 24 | 10.8% | 39.3% | ||
| Q2 24 | 13.4% | 23.0% | ||
| Q1 24 | -11.6% | 64.3% |
资本支出强度CSGSHALO
| Q4 25 | 1.1% | 0.3% | ||
| Q3 25 | 1.3% | 0.9% | ||
| Q2 25 | 0.9% | 0.5% | ||
| Q1 25 | 1.5% | 0.4% | ||
| Q4 24 | 1.9% | 1.0% | ||
| Q3 24 | 2.5% | 0.5% | ||
| Q2 24 | 1.5% | 1.1% | ||
| Q1 24 | 1.6% | 1.8% |
现金转化率CSGSHALO
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | 1.02× | ||
| Q2 25 | 3.04× | 0.60× | ||
| Q1 25 | 0.71× | 1.31× | ||
| Q4 24 | 2.39× | 1.30× | ||
| Q3 24 | 2.07× | 0.84× | ||
| Q2 24 | 3.12× | 0.60× | ||
| Q1 24 | -1.51× | 1.68× |
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% |
HALO
| Royalty | $258.0M | 57% |
| Products | $122.7M | 27% |
| Proprietary Products Sales | $59.6M | 13% |
| Device Partnered Products | $12.9M | 3% |
