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南玻集团（CSGS）与Hilltop Holdings Inc.（HTH）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Hilltop Holdings Inc.的1.1倍（$323.1M vs $300.5M），Hilltop Holdings Inc.净利率更高（13.0% vs 2.2%，领先10.8%），过去两年南玻集团的营收复合增速更高（4.6% vs 0.6%）
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。
Hilltop Holdings Inc.是总部位于美国得克萨斯州达拉斯的金融控股公司，旗下拥有PlainsCapital Bank、PrimeLending与HilltopSecurities三大核心子公司，为客户提供多元金融产品及银行相关服务。
CSGS vs HTH — 直观对比
营收规模更大
CSGS
是对方的1.1倍
$300.5M
净利率更高
HTH
高出10.8%
2.2%
两年增速更快
CSGS
近两年复合增速
0.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $300.5M |
| 净利润 | $7.0M | $39.0M |
| 毛利率 | 50.0% | — |
| 营业利润率 | 9.0% | — |
| 净利率 | 2.2% | 13.0% |
| 营收同比 | 2.0% | — |
| 净利润同比 | -79.7% | -12.4% |
| 每股收益（稀释后） | $0.24 | $0.64 |
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CSGSHTH
| Q1 26 | — | $300.5M | ||
| Q4 25 | $323.1M | $329.9M | ||
| Q3 25 | $303.6M | $330.2M | ||
| Q2 25 | $297.1M | $303.3M | ||
| Q1 25 | $299.5M | $318.5M | ||
| Q4 24 | $316.7M | $301.1M | ||
| Q3 24 | $295.1M | $305.5M | ||
| Q2 24 | $290.3M | $297.0M |
净利润CSGSHTH
| Q1 26 | — | $39.0M | ||
| Q4 25 | $7.0M | $41.6M | ||
| Q3 25 | $20.5M | $45.8M | ||
| Q2 25 | $12.3M | $36.1M | ||
| Q1 25 | $16.1M | $42.1M | ||
| Q4 24 | $34.5M | $35.5M | ||
| Q3 24 | $19.1M | $29.7M | ||
| Q2 24 | $13.8M | $20.3M |
毛利率CSGSHTH
| Q1 26 | — | — | ||
| 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% | — |
营业利润率CSGSHTH
| Q1 26 | — | — | ||
| Q4 25 | 9.0% | 16.1% | ||
| Q3 25 | 10.0% | 18.4% | ||
| Q2 25 | 10.0% | 16.3% | ||
| Q1 25 | 9.8% | 18.1% | ||
| Q4 24 | 13.4% | 14.7% | ||
| Q3 24 | 10.8% | 13.9% | ||
| Q2 24 | 8.8% | 10.0% |
净利率CSGSHTH
| Q1 26 | — | 13.0% | ||
| Q4 25 | 2.2% | 12.6% | ||
| Q3 25 | 6.7% | 13.9% | ||
| Q2 25 | 4.1% | 11.9% | ||
| Q1 25 | 5.4% | 13.2% | ||
| Q4 24 | 10.9% | 11.8% | ||
| Q3 24 | 6.5% | 9.7% | ||
| Q2 24 | 4.8% | 6.8% |
每股收益（稀释后）CSGSHTH
| Q1 26 | — | $0.64 | ||
| Q4 25 | $0.24 | $0.68 | ||
| Q3 25 | $0.73 | $0.74 | ||
| Q2 25 | $0.44 | $0.57 | ||
| Q1 25 | $0.57 | $0.65 | ||
| Q4 24 | $1.20 | $0.55 | ||
| Q3 24 | $0.67 | $0.46 | ||
| Q2 24 | $0.48 | $0.31 |
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 | — |
| 总债务越低越好 | $539.5M | $990.8M |
| 股东权益账面价值 | $283.7M | $2.2B |
| 总资产 | $1.5B | $15.7B |
| 负债/权益比越低杠杆越低 | 1.90× | 0.46× |
8季度趋势，按日历期对齐
现金及短期投资CSGSHTH
| Q1 26 | — | — | ||
| Q4 25 | $180.0M | — | ||
| Q3 25 | $158.4M | — | ||
| Q2 25 | $145.9M | — | ||
| Q1 25 | $136.0M | — | ||
| Q4 24 | $161.8M | — | ||
| Q3 24 | $118.4M | — | ||
| Q2 24 | $110.4M | — |
总债务CSGSHTH
| Q1 26 | — | $990.8M | ||
| 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 | — |
股东权益CSGSHTH
| Q1 26 | — | $2.2B | ||
| Q4 25 | $283.7M | $2.2B | ||
| Q3 25 | $289.5M | $2.2B | ||
| Q2 25 | $290.7M | $2.2B | ||
| Q1 25 | $283.1M | $2.2B | ||
| Q4 24 | $282.6M | $2.2B | ||
| Q3 24 | $288.4M | $2.2B | ||
| Q2 24 | $273.3M | $2.1B |
总资产CSGSHTH
| Q1 26 | — | $15.7B | ||
| Q4 25 | $1.5B | $15.8B | ||
| Q3 25 | $1.5B | $15.6B | ||
| Q2 25 | $1.4B | $15.4B | ||
| Q1 25 | $1.4B | $15.8B | ||
| Q4 24 | $1.5B | $16.3B | ||
| Q3 24 | $1.4B | $15.9B | ||
| Q2 24 | $1.4B | $15.6B |
负债/权益比CSGSHTH
| Q1 26 | — | 0.46× | ||
| 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× | — |
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 | — |
| 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CSGSHTH
| Q1 26 | — | — | ||
| Q4 25 | $59.2M | $-38.7M | ||
| Q3 25 | $47.9M | $273.0M | ||
| Q2 25 | $37.3M | $-234.6M | ||
| Q1 25 | $11.5M | $5.8M | ||
| Q4 24 | $82.5M | $273.9M | ||
| Q3 24 | $39.5M | $515.6M | ||
| Q2 24 | $43.1M | $-435.3M |
自由现金流CSGSHTH
| Q1 26 | — | — | ||
| Q4 25 | $55.8M | $-55.5M | ||
| Q3 25 | $43.9M | $271.0M | ||
| Q2 25 | $34.6M | $-234.6M | ||
| Q1 25 | $7.1M | $5.0M | ||
| Q4 24 | $76.6M | $266.8M | ||
| Q3 24 | $32.0M | $513.8M | ||
| Q2 24 | $38.8M | $-437.3M |
自由现金流率CSGSHTH
| Q1 26 | — | — | ||
| Q4 25 | 17.3% | -16.8% | ||
| Q3 25 | 14.5% | 82.1% | ||
| Q2 25 | 11.6% | -77.4% | ||
| Q1 25 | 2.4% | 1.6% | ||
| Q4 24 | 24.2% | 88.6% | ||
| Q3 24 | 10.8% | 168.2% | ||
| Q2 24 | 13.4% | -147.2% |
资本支出强度CSGSHTH
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 5.1% | ||
| Q3 25 | 1.3% | 0.6% | ||
| Q2 25 | 0.9% | 0.0% | ||
| Q1 25 | 1.5% | 0.3% | ||
| Q4 24 | 1.9% | 2.4% | ||
| Q3 24 | 2.5% | 0.6% | ||
| Q2 24 | 1.5% | 0.7% |
现金转化率CSGSHTH
| Q1 26 | — | — | ||
| Q4 25 | 8.46× | -0.93× | ||
| Q3 25 | 2.34× | 5.96× | ||
| Q2 25 | 3.04× | -6.50× | ||
| Q1 25 | 0.71× | 0.14× | ||
| Q4 24 | 2.39× | 7.71× | ||
| Q3 24 | 2.07× | 17.36× | ||
| Q2 24 | 3.12× | -21.41× |
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% |
HTH
| Noninterest Income | $188.4M | 63% |
| Net Interest Income | $112.1M | 37% |
