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南玻集团（CSGS）与Hagerty, Inc.（HGTY）财务数据对比。点击上方公司名可切换其他公司
Hagerty, Inc.的季度营收约是南玻集团的1.2倍（$388.1M vs $323.1M），Hagerty, Inc.净利率更高（7.4% vs 2.2%，领先5.2%），Hagerty, Inc.同比增速更快（16.5% vs 2.0%），Hagerty, Inc.自由现金流更多（$194.5M vs $55.8M），过去两年Hagerty, Inc.的营收复合增速更高（19.5% 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。
哈格蒂（Hagerty, Inc.）是美国知名汽车生活方式及会员服务企业，同时是全球规模最大的经典老爷车特种保险供应商，总部位于密歇根州特拉弗斯城，业务范围覆盖加拿大、德国及英国市场。
CSGS vs HGTY — 直观对比
营收规模更大
HGTY
是对方的1.2倍
$323.1M
营收增速更快
HGTY
高出14.4%
2.0%
净利率更高
HGTY
高出5.2%
2.2%
自由现金流更多
HGTY
多$138.6M
$55.8M
两年增速更快
HGTY
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $388.1M |
| 净利润 | $7.0M | $28.6M |
| 毛利率 | 50.0% | — |
| 营业利润率 | 9.0% | 10.2% |
| 净利率 | 2.2% | 7.4% |
| 营收同比 | 2.0% | 16.5% |
| 净利润同比 | -79.7% | 238.4% |
| 每股收益（稀释后） | $0.24 | — |
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CSGSHGTY
| Q4 25 | $323.1M | $388.1M | ||
| Q3 25 | $303.6M | $380.0M | ||
| Q2 25 | $297.1M | $368.7M | ||
| Q1 25 | $299.5M | $319.6M | ||
| Q4 24 | $316.7M | $333.2M | ||
| Q3 24 | $295.1M | $323.4M | ||
| Q2 24 | $290.3M | $313.2M | ||
| Q1 24 | $295.1M | $271.7M |
净利润CSGSHGTY
| Q4 25 | $7.0M | $28.6M | ||
| Q3 25 | $20.5M | $46.2M | ||
| Q2 25 | $12.3M | $47.2M | ||
| Q1 25 | $16.1M | $27.3M | ||
| Q4 24 | $34.5M | $8.4M | ||
| Q3 24 | $19.1M | $19.0M | ||
| Q2 24 | $13.8M | $42.7M | ||
| Q1 24 | $19.5M | $8.2M |
毛利率CSGSHGTY
| 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CSGSHGTY
| Q4 25 | 9.0% | 10.2% | ||
| Q3 25 | 10.0% | 9.0% | ||
| Q2 25 | 10.0% | 12.9% | ||
| Q1 25 | 9.8% | 8.1% | ||
| Q4 24 | 13.4% | 1.8% | ||
| Q3 24 | 10.8% | 3.1% | ||
| Q2 24 | 8.8% | 12.2% | ||
| Q1 24 | 10.8% | 4.5% |
净利率CSGSHGTY
| Q4 25 | 2.2% | 7.4% | ||
| Q3 25 | 6.7% | 12.2% | ||
| Q2 25 | 4.1% | 12.8% | ||
| Q1 25 | 5.4% | 8.5% | ||
| Q4 24 | 10.9% | 2.5% | ||
| Q3 24 | 6.5% | 5.9% | ||
| Q2 24 | 4.8% | 13.6% | ||
| Q1 24 | 6.6% | 3.0% |
每股收益（稀释后）CSGSHGTY
| Q4 25 | $0.24 | — | ||
| Q3 25 | $0.73 | — | ||
| Q2 25 | $0.44 | — | ||
| Q1 25 | $0.57 | — | ||
| Q4 24 | $1.20 | — | ||
| Q3 24 | $0.67 | — | ||
| Q2 24 | $0.48 | — | ||
| Q1 24 | $0.68 | — |
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 | $160.2M |
| 总债务越低越好 | $539.5M | $177.9M |
| 股东权益账面价值 | $283.7M | $221.3M |
| 总资产 | $1.5B | $2.1B |
| 负债/权益比越低杠杆越低 | 1.90× | 0.80× |
8季度趋势，按日历期对齐
现金及短期投资CSGSHGTY
| Q4 25 | $180.0M | $160.2M | ||
| Q3 25 | $158.4M | $290.5M | ||
| Q2 25 | $145.9M | $259.6M | ||
| Q1 25 | $136.0M | $232.7M | ||
| Q4 24 | $161.8M | $178.7M | ||
| Q3 24 | $118.4M | $208.9M | ||
| Q2 24 | $110.4M | $186.4M | ||
| Q1 24 | $120.8M | $131.2M |
总债务CSGSHGTY
| Q4 25 | $539.5M | $177.9M | ||
| Q3 25 | $538.6M | $104.4M | ||
| Q2 25 | $537.8M | $153.4M | ||
| Q1 25 | $537.6M | $132.6M | ||
| Q4 24 | $538.5M | $105.8M | ||
| Q3 24 | $539.5M | $122.9M | ||
| Q2 24 | $540.5M | $98.0M | ||
| Q1 24 | $541.5M | $91.5M |
股东权益CSGSHGTY
| Q4 25 | $283.7M | $221.3M | ||
| Q3 25 | $289.5M | $211.7M | ||
| Q2 25 | $290.7M | $172.3M | ||
| Q1 25 | $283.1M | $162.9M | ||
| Q4 24 | $282.6M | $150.3M | ||
| Q3 24 | $288.4M | $148.3M | ||
| Q2 24 | $273.3M | $94.4M | ||
| Q1 24 | $269.3M | $93.5M |
总资产CSGSHGTY
| Q4 25 | $1.5B | $2.1B | ||
| Q3 25 | $1.5B | $2.2B | ||
| Q2 25 | $1.4B | $2.0B | ||
| Q1 25 | $1.4B | $1.8B | ||
| Q4 24 | $1.5B | $1.7B | ||
| Q3 24 | $1.4B | $1.8B | ||
| Q2 24 | $1.4B | $1.7B | ||
| Q1 24 | $1.3B | $1.6B |
负债/权益比CSGSHGTY
| Q4 25 | 1.90× | 0.80× | ||
| Q3 25 | 1.86× | 0.49× | ||
| Q2 25 | 1.85× | 0.89× | ||
| Q1 25 | 1.90× | 0.81× | ||
| Q4 24 | 1.91× | 0.70× | ||
| Q3 24 | 1.87× | 0.83× | ||
| Q2 24 | 1.98× | 1.04× | ||
| Q1 24 | 2.01× | 0.98× |
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 | $194.5M |
| 自由现金流率自由现金流/营收 | 17.3% | 50.1% |
| 资本支出强度资本支出/营收 | 1.1% | 6.3% |
| 现金转化率经营现金流/净利润 | 8.46× | 7.67× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $365.8M |
8季度趋势，按日历期对齐
经营现金流CSGSHGTY
| Q4 25 | $59.2M | $219.0M | ||
| Q3 25 | $47.9M | $92.2M | ||
| Q2 25 | $37.3M | $53.9M | ||
| Q1 25 | $11.5M | $43.8M | ||
| Q4 24 | $82.5M | $177.0M | ||
| Q3 24 | $39.5M | $67.4M | ||
| Q2 24 | $43.1M | $64.0M | ||
| Q1 24 | $-29.4M | $58.2M |
自由现金流CSGSHGTY
| Q4 25 | $55.8M | $194.5M | ||
| Q3 25 | $43.9M | $85.2M | ||
| Q2 25 | $34.6M | $47.7M | ||
| Q1 25 | $7.1M | $38.4M | ||
| Q4 24 | $76.6M | $155.7M | ||
| Q3 24 | $32.0M | $62.0M | ||
| Q2 24 | $38.8M | $56.6M | ||
| Q1 24 | $-34.1M | $53.7M |
自由现金流率CSGSHGTY
| Q4 25 | 17.3% | 50.1% | ||
| Q3 25 | 14.5% | 22.4% | ||
| Q2 25 | 11.6% | 12.9% | ||
| Q1 25 | 2.4% | 12.0% | ||
| Q4 24 | 24.2% | 46.7% | ||
| Q3 24 | 10.8% | 19.2% | ||
| Q2 24 | 13.4% | 18.1% | ||
| Q1 24 | -11.6% | 19.8% |
资本支出强度CSGSHGTY
| Q4 25 | 1.1% | 6.3% | ||
| Q3 25 | 1.3% | 1.8% | ||
| Q2 25 | 0.9% | 1.7% | ||
| Q1 25 | 1.5% | 1.7% | ||
| Q4 24 | 1.9% | 6.4% | ||
| Q3 24 | 2.5% | 1.7% | ||
| Q2 24 | 1.5% | 2.4% | ||
| Q1 24 | 1.6% | 1.7% |
现金转化率CSGSHGTY
| Q4 25 | 8.46× | 7.67× | ||
| Q3 25 | 2.34× | 2.00× | ||
| Q2 25 | 3.04× | 1.14× | ||
| Q1 25 | 0.71× | 1.61× | ||
| Q4 24 | 2.39× | 20.97× | ||
| Q3 24 | 2.07× | 3.55× | ||
| Q2 24 | 3.12× | 1.50× | ||
| Q1 24 | -1.51× | 7.10× |
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% |
HGTY
暂无分部数据
