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南玻集团（CSGS）与HAVERTY FURNITURE COMPANIES INC（HVT）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HAVERTY FURNITURE COMPANIES INC的1.6倍（$323.1M vs $201.9M），HAVERTY FURNITURE COMPANIES INC净利率更高（4.2% vs 2.2%，领先2.1%），HAVERTY FURNITURE COMPANIES INC同比增速更快（9.5% vs 2.0%），南玻集团自由现金流更多（$55.8M vs $3.0M），过去两年HAVERTY FURNITURE COMPANIES INC的营收复合增速更高（4.8% 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。
该企业原名为国际鞋业公司，1911年由两家鞋企合并成立于美国密苏里州克莱顿，后开展多元化业务并逐步退出制鞋领域，最终更名为家具品牌国际，是美国家居行业知名企业，曾拥有布罗伊希尔等多个知名家具品牌。
CSGS vs HVT — 直观对比
营收规模更大
CSGS
是对方的1.6倍
$201.9M
营收增速更快
HVT
高出7.5%
2.0%
净利率更高
HVT
高出2.1%
2.2%
自由现金流更多
CSGS
多$52.8M
$3.0M
两年增速更快
HVT
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $201.9M |
| 净利润 | $7.0M | $8.5M |
| 毛利率 | 50.0% | 60.4% |
| 营业利润率 | 9.0% | 5.3% |
| 净利率 | 2.2% | 4.2% |
| 营收同比 | 2.0% | 9.5% |
| 净利润同比 | -79.7% | 4.1% |
| 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CSGSHVT
| Q4 25 | $323.1M | $201.9M | ||
| Q3 25 | $303.6M | $194.5M | ||
| Q2 25 | $297.1M | $181.0M | ||
| Q1 25 | $299.5M | $181.6M | ||
| Q4 24 | $316.7M | $184.4M | ||
| Q3 24 | $295.1M | $175.9M | ||
| Q2 24 | $290.3M | $178.6M | ||
| Q1 24 | $295.1M | $184.0M |
净利润CSGSHVT
| Q4 25 | $7.0M | $8.5M | ||
| Q3 25 | $20.5M | $4.7M | ||
| Q2 25 | $12.3M | $2.7M | ||
| Q1 25 | $16.1M | $3.8M | ||
| Q4 24 | $34.5M | $8.2M | ||
| Q3 24 | $19.1M | $4.9M | ||
| Q2 24 | $13.8M | $4.4M | ||
| Q1 24 | $19.5M | $2.4M |
毛利率CSGSHVT
| Q4 25 | 50.0% | 60.4% | ||
| Q3 25 | 48.1% | 60.3% | ||
| Q2 25 | 49.5% | 60.8% | ||
| Q1 25 | 48.4% | 61.2% | ||
| Q4 24 | 51.3% | 61.9% | ||
| Q3 24 | 49.4% | 60.2% | ||
| Q2 24 | 47.3% | 60.4% | ||
| Q1 24 | 46.5% | 60.3% |
营业利润率CSGSHVT
| Q4 25 | 9.0% | 5.3% | ||
| Q3 25 | 10.0% | 3.3% | ||
| Q2 25 | 10.0% | 2.4% | ||
| Q1 25 | 9.8% | 2.9% | ||
| Q4 24 | 13.4% | 5.2% | ||
| Q3 24 | 10.8% | 3.9% | ||
| Q2 24 | 8.8% | 3.6% | ||
| Q1 24 | 10.8% | 1.7% |
净利率CSGSHVT
| Q4 25 | 2.2% | 4.2% | ||
| Q3 25 | 6.7% | 2.4% | ||
| Q2 25 | 4.1% | 1.5% | ||
| Q1 25 | 5.4% | 2.1% | ||
| Q4 24 | 10.9% | 4.4% | ||
| Q3 24 | 6.5% | 2.8% | ||
| Q2 24 | 4.8% | 2.5% | ||
| Q1 24 | 6.6% | 1.3% |
每股收益（稀释后）CSGSHVT
| 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 | $125.3M |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $307.9M |
| 总资产 | $1.5B | $649.1M |
| 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CSGSHVT
| Q4 25 | $180.0M | $125.3M | ||
| Q3 25 | $158.4M | $130.5M | ||
| Q2 25 | $145.9M | $107.4M | ||
| Q1 25 | $136.0M | $111.9M | ||
| Q4 24 | $161.8M | $120.0M | ||
| Q3 24 | $118.4M | $121.2M | ||
| Q2 24 | $110.4M | $109.9M | ||
| Q1 24 | $120.8M | $111.8M |
总债务CSGSHVT
| 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CSGSHVT
| Q4 25 | $283.7M | $307.9M | ||
| Q3 25 | $289.5M | $306.0M | ||
| Q2 25 | $290.7M | $304.9M | ||
| Q1 25 | $283.1M | $305.4M | ||
| Q4 24 | $282.6M | $307.6M | ||
| Q3 24 | $288.4M | $307.8M | ||
| Q2 24 | $273.3M | $307.1M | ||
| Q1 24 | $269.3M | $306.7M |
总资产CSGSHVT
| Q4 25 | $1.5B | $649.1M | ||
| Q3 25 | $1.5B | $651.7M | ||
| Q2 25 | $1.4B | $642.7M | ||
| Q1 25 | $1.4B | $642.7M | ||
| Q4 24 | $1.5B | $648.7M | ||
| Q3 24 | $1.4B | $659.3M | ||
| Q2 24 | $1.4B | $642.1M | ||
| Q1 24 | $1.3B | $640.5M |
负债/权益比CSGSHVT
| 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 | $7.4M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $3.0M |
| 自由现金流率自由现金流/营收 | 17.3% | 1.5% |
| 资本支出强度资本支出/营收 | 1.1% | 2.2% |
| 现金转化率经营现金流/净利润 | 8.46× | 0.86× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $33.0M |
8季度趋势，按日历期对齐
经营现金流CSGSHVT
| Q4 25 | $59.2M | $7.4M | ||
| Q3 25 | $47.9M | $31.9M | ||
| Q2 25 | $37.3M | $7.2M | ||
| Q1 25 | $11.5M | $6.2M | ||
| Q4 24 | $82.5M | $16.9M | ||
| Q3 24 | $39.5M | $24.4M | ||
| Q2 24 | $43.1M | $14.4M | ||
| Q1 24 | $-29.4M | $3.1M |
自由现金流CSGSHVT
| Q4 25 | $55.8M | $3.0M | ||
| Q3 25 | $43.9M | $28.3M | ||
| Q2 25 | $34.6M | $1.6M | ||
| Q1 25 | $7.1M | $27.0K | ||
| Q4 24 | $76.6M | $9.1M | ||
| Q3 24 | $32.0M | $16.1M | ||
| Q2 24 | $38.8M | $4.9M | ||
| Q1 24 | $-34.1M | $-3.3M |
自由现金流率CSGSHVT
| Q4 25 | 17.3% | 1.5% | ||
| Q3 25 | 14.5% | 14.6% | ||
| Q2 25 | 11.6% | 0.9% | ||
| Q1 25 | 2.4% | 0.0% | ||
| Q4 24 | 24.2% | 4.9% | ||
| Q3 24 | 10.8% | 9.2% | ||
| Q2 24 | 13.4% | 2.7% | ||
| Q1 24 | -11.6% | -1.8% |
资本支出强度CSGSHVT
| Q4 25 | 1.1% | 2.2% | ||
| Q3 25 | 1.3% | 1.8% | ||
| Q2 25 | 0.9% | 3.1% | ||
| Q1 25 | 1.5% | 3.4% | ||
| Q4 24 | 1.9% | 4.2% | ||
| Q3 24 | 2.5% | 4.7% | ||
| Q2 24 | 1.5% | 5.3% | ||
| Q1 24 | 1.6% | 3.5% |
现金转化率CSGSHVT
| Q4 25 | 8.46× | 0.86× | ||
| Q3 25 | 2.34× | 6.75× | ||
| Q2 25 | 3.04× | 2.69× | ||
| Q1 25 | 0.71× | 1.63× | ||
| Q4 24 | 2.39× | 2.06× | ||
| Q3 24 | 2.07× | 4.96× | ||
| Q2 24 | 3.12× | 3.25× | ||
| Q1 24 | -1.51× | 1.31× |
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% |
HVT
| Upholstery | $91.0M | 45% |
| Bedroom Furniture | $29.2M | 14% |
| Accessories And Other | $28.4M | 14% |
| Dining Room Furniture | $22.8M | 11% |
| Mattresses | $16.1M | 8% |
| Occasional | $14.4M | 7% |
