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南玻集团（CSGS）与HCI Group, Inc.（HCI）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HCI Group, Inc.的1.3倍（$323.1M vs $246.2M），HCI Group, Inc.净利率更高（39.7% vs 2.2%，领先37.5%），HCI Group, Inc.同比增速更快（52.1% vs 2.0%），HCI Group, Inc.自由现金流更多（$440.8M vs $55.8M），过去两年HCI Group, Inc.的营收复合增速更高（9.2% 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。
HCI集团是一家总部位于美国华盛顿特区的私募股权投资公司，在伊利诺伊州芝加哥设有分支机构，专注于股权投资相关业务，为合作企业提供资本支持与运营赋能，助力企业实现长期发展目标。
CSGS vs HCI — 直观对比
营收规模更大
CSGS
是对方的1.3倍
$246.2M
营收增速更快
HCI
高出50.1%
2.0%
净利率更高
HCI
高出37.5%
2.2%
自由现金流更多
HCI
多$385.0M
$55.8M
两年增速更快
HCI
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $246.2M |
| 净利润 | $7.0M | $97.7M |
| 毛利率 | 50.0% | — |
| 营业利润率 | 9.0% | 58.5% |
| 净利率 | 2.2% | 39.7% |
| 营收同比 | 2.0% | 52.1% |
| 净利润同比 | -79.7% | 3679.2% |
| 每股收益（稀释后） | $0.24 | $7.29 |
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CSGSHCI
| Q4 25 | $323.1M | $246.2M | ||
| Q3 25 | $303.6M | $216.3M | ||
| Q2 25 | $297.1M | $221.9M | ||
| Q1 25 | $299.5M | $216.4M | ||
| Q4 24 | $316.7M | $161.9M | ||
| Q3 24 | $295.1M | $175.3M | ||
| Q2 24 | $290.3M | $206.2M | ||
| Q1 24 | $295.1M | $206.6M |
净利润CSGSHCI
| Q4 25 | $7.0M | $97.7M | ||
| Q3 25 | $20.5M | $65.5M | ||
| Q2 25 | $12.3M | $66.2M | ||
| Q1 25 | $16.1M | $69.7M | ||
| Q4 24 | $34.5M | $2.6M | ||
| Q3 24 | $19.1M | $5.7M | ||
| Q2 24 | $13.8M | $54.1M | ||
| Q1 24 | $19.5M | $47.6M |
毛利率CSGSHCI
| 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CSGSHCI
| Q4 25 | 9.0% | 58.5% | ||
| Q3 25 | 10.0% | 41.9% | ||
| Q2 25 | 10.0% | 42.5% | ||
| Q1 25 | 9.8% | 46.4% | ||
| Q4 24 | 13.4% | 3.6% | ||
| Q3 24 | 10.8% | 8.0% | ||
| Q2 24 | 8.8% | 36.9% | ||
| Q1 24 | 10.8% | 37.5% |
净利率CSGSHCI
| Q4 25 | 2.2% | 39.7% | ||
| Q3 25 | 6.7% | 30.3% | ||
| Q2 25 | 4.1% | 29.8% | ||
| Q1 25 | 5.4% | 32.2% | ||
| Q4 24 | 10.9% | 1.6% | ||
| Q3 24 | 6.5% | 3.2% | ||
| Q2 24 | 4.8% | 26.2% | ||
| Q1 24 | 6.6% | 23.0% |
每股收益（稀释后）CSGSHCI
| Q4 25 | $0.24 | $7.29 | ||
| Q3 25 | $0.73 | $4.90 | ||
| Q2 25 | $0.44 | $5.18 | ||
| Q1 25 | $0.57 | $5.35 | ||
| Q4 24 | $1.20 | $0.32 | ||
| Q3 24 | $0.67 | $0.52 | ||
| Q2 24 | $0.48 | $4.24 | ||
| Q1 24 | $0.68 | $3.81 |
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 | $1.2B |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $1.0B |
| 总资产 | $1.5B | $2.5B |
| 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CSGSHCI
| Q4 25 | $180.0M | $1.2B | ||
| Q3 25 | $158.4M | $987.9M | ||
| Q2 25 | $145.9M | $947.2M | ||
| Q1 25 | $136.0M | $754.5M | ||
| Q4 24 | $161.8M | $532.5M | ||
| Q3 24 | $118.4M | $518.8M | ||
| Q2 24 | $110.4M | $445.8M | ||
| Q1 24 | $120.8M | $655.4M |
总债务CSGSHCI
| Q4 25 | $539.5M | — | ||
| Q3 25 | $538.6M | — | ||
| Q2 25 | $537.8M | — | ||
| Q1 25 | $537.6M | — | ||
| Q4 24 | $538.5M | — | ||
| Q3 24 | $539.5M | — | ||
| Q2 24 | $540.5M | — | ||
| Q1 24 | $541.5M | — |
股东权益CSGSHCI
| Q4 25 | $283.7M | $1.0B | ||
| Q3 25 | $289.5M | $821.8M | ||
| Q2 25 | $290.7M | $758.6M | ||
| Q1 25 | $283.1M | $522.7M | ||
| Q4 24 | $282.6M | $453.3M | ||
| Q3 24 | $288.4M | $455.3M | ||
| Q2 24 | $273.3M | $447.3M | ||
| Q1 24 | $269.3M | $395.7M |
总资产CSGSHCI
| Q4 25 | $1.5B | $2.5B | ||
| Q3 25 | $1.5B | $2.3B | ||
| Q2 25 | $1.4B | $2.4B | ||
| Q1 25 | $1.4B | $2.3B | ||
| Q4 24 | $1.5B | $2.2B | ||
| Q3 24 | $1.4B | $2.0B | ||
| Q2 24 | $1.4B | $1.9B | ||
| Q1 24 | $1.3B | $1.8B |
负债/权益比CSGSHCI
| Q4 25 | 1.90× | — | ||
| Q3 25 | 1.86× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 1.91× | — | ||
| Q3 24 | 1.87× | — | ||
| Q2 24 | 1.98× | — | ||
| Q1 24 | 2.01× | — |
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 | $444.4M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $440.8M |
| 自由现金流率自由现金流/营收 | 17.3% | 179.0% |
| 资本支出强度资本支出/营收 | 1.1% | 1.5% |
| 现金转化率经营现金流/净利润 | 8.46× | 4.55× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $771.4M |
8季度趋势，按日历期对齐
经营现金流CSGSHCI
| Q4 25 | $59.2M | $444.4M | ||
| Q3 25 | $47.9M | $26.7M | ||
| Q2 25 | $37.3M | $145.0M | ||
| Q1 25 | $11.5M | $162.0M | ||
| Q4 24 | $82.5M | $331.8M | ||
| Q3 24 | $39.5M | $104.1M | ||
| Q2 24 | $43.1M | $-29.0M | ||
| Q1 24 | $-29.4M | $182.0M |
自由现金流CSGSHCI
| Q4 25 | $55.8M | $440.8M | ||
| Q3 25 | $43.9M | $25.9M | ||
| Q2 25 | $34.6M | $144.5M | ||
| Q1 25 | $7.1M | $160.3M | ||
| Q4 24 | $76.6M | $327.8M | ||
| Q3 24 | $32.0M | $103.2M | ||
| Q2 24 | $38.8M | $-30.1M | ||
| Q1 24 | $-34.1M | $181.0M |
自由现金流率CSGSHCI
| Q4 25 | 17.3% | 179.0% | ||
| Q3 25 | 14.5% | 12.0% | ||
| Q2 25 | 11.6% | 65.1% | ||
| Q1 25 | 2.4% | 74.1% | ||
| Q4 24 | 24.2% | 202.5% | ||
| Q3 24 | 10.8% | 58.9% | ||
| Q2 24 | 13.4% | -14.6% | ||
| Q1 24 | -11.6% | 87.6% |
资本支出强度CSGSHCI
| Q4 25 | 1.1% | 1.5% | ||
| Q3 25 | 1.3% | 0.4% | ||
| Q2 25 | 0.9% | 0.2% | ||
| Q1 25 | 1.5% | 0.8% | ||
| Q4 24 | 1.9% | 2.5% | ||
| Q3 24 | 2.5% | 0.5% | ||
| Q2 24 | 1.5% | 0.5% | ||
| Q1 24 | 1.6% | 0.5% |
现金转化率CSGSHCI
| Q4 25 | 8.46× | 4.55× | ||
| Q3 25 | 2.34× | 0.41× | ||
| Q2 25 | 3.04× | 2.19× | ||
| Q1 25 | 0.71× | 2.32× | ||
| Q4 24 | 2.39× | 128.41× | ||
| Q3 24 | 2.07× | 18.33× | ||
| Q2 24 | 3.12× | -0.54× | ||
| Q1 24 | -1.51× | 3.82× |
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% |
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
