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南玻集团（CSGS）与ICU MEDICAL INC（ICUI）财务数据对比。点击上方公司名可切换其他公司
ICU MEDICAL INC的季度营收约是南玻集团的1.7倍（$540.7M vs $323.1M），南玻集团净利率更高（2.2% vs -2.9%，领先5.1%），南玻集团同比增速更快（2.0% vs -14.1%），南玻集团自由现金流更多（$55.8M vs $36.0M），过去两年南玻集团的营收复合增速更高（4.6% vs -2.3%）
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。
ICU医疗是总部位于美国加利福尼亚州圣克莱门特的医疗科技企业，专注于研发预防血流感染、保护医护人员免受传染病或危险药物侵害的医疗产品，产品线覆盖静脉治疗用品、输液泵、无针血管通路设备、定制输液套装、危险药物密闭处理系统、传感导管以及无针封闭式血液采样系统等。
CSGS vs ICUI — 直观对比
营收规模更大
ICUI
是对方的1.7倍
$323.1M
营收增速更快
CSGS
高出16.2%
-14.1%
净利率更高
CSGS
高出5.1%
-2.9%
自由现金流更多
CSGS
多$19.9M
$36.0M
两年增速更快
CSGS
近两年复合增速
-2.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $540.7M |
| 净利润 | $7.0M | $-15.7M |
| 毛利率 | 50.0% | 37.5% |
| 营业利润率 | 9.0% | 1.0% |
| 净利率 | 2.2% | -2.9% |
| 营收同比 | 2.0% | -14.1% |
| 净利润同比 | -79.7% | 34.0% |
| 每股收益（稀释后） | $0.24 | $-0.63 |
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CSGSICUI
| Q4 25 | $323.1M | $540.7M | ||
| Q3 25 | $303.6M | $537.0M | ||
| Q2 25 | $297.1M | $548.9M | ||
| Q1 25 | $299.5M | $604.7M | ||
| Q4 24 | $316.7M | $629.8M | ||
| Q3 24 | $295.1M | $589.1M | ||
| Q2 24 | $290.3M | $596.5M | ||
| Q1 24 | $295.1M | $566.7M |
净利润CSGSICUI
| Q4 25 | $7.0M | $-15.7M | ||
| Q3 25 | $20.5M | $-3.4M | ||
| Q2 25 | $12.3M | $35.3M | ||
| Q1 25 | $16.1M | $-15.5M | ||
| Q4 24 | $34.5M | $-23.8M | ||
| Q3 24 | $19.1M | $-33.0M | ||
| Q2 24 | $13.8M | $-21.4M | ||
| Q1 24 | $19.5M | $-39.5M |
毛利率CSGSICUI
| Q4 25 | 50.0% | 37.5% | ||
| Q3 25 | 48.1% | 37.4% | ||
| Q2 25 | 49.5% | 37.9% | ||
| Q1 25 | 48.4% | 34.7% | ||
| Q4 24 | 51.3% | 36.1% | ||
| Q3 24 | 49.4% | 34.8% | ||
| Q2 24 | 47.3% | 34.8% | ||
| Q1 24 | 46.5% | 32.7% |
营业利润率CSGSICUI
| Q4 25 | 9.0% | 1.0% | ||
| Q3 25 | 10.0% | 2.6% | ||
| Q2 25 | 10.0% | 1.9% | ||
| Q1 25 | 9.8% | 2.1% | ||
| Q4 24 | 13.4% | 6.0% | ||
| Q3 24 | 10.8% | 1.4% | ||
| Q2 24 | 8.8% | 1.3% | ||
| Q1 24 | 10.8% | -1.9% |
净利率CSGSICUI
| Q4 25 | 2.2% | -2.9% | ||
| Q3 25 | 6.7% | -0.6% | ||
| Q2 25 | 4.1% | 6.4% | ||
| Q1 25 | 5.4% | -2.6% | ||
| Q4 24 | 10.9% | -3.8% | ||
| Q3 24 | 6.5% | -5.6% | ||
| Q2 24 | 4.8% | -3.6% | ||
| Q1 24 | 6.6% | -7.0% |
每股收益（稀释后）CSGSICUI
| Q4 25 | $0.24 | $-0.63 | ||
| Q3 25 | $0.73 | $-0.14 | ||
| Q2 25 | $0.44 | $1.43 | ||
| Q1 25 | $0.57 | $-0.63 | ||
| Q4 24 | $1.20 | $-0.97 | ||
| Q3 24 | $0.67 | $-1.35 | ||
| Q2 24 | $0.48 | $-0.88 | ||
| Q1 24 | $0.68 | $-1.63 |
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 | — |
| 股东权益账面价值 | $283.7M | $2.1B |
| 总资产 | $1.5B | $4.1B |
| 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CSGSICUI
| Q4 25 | $180.0M | — | ||
| Q3 25 | $158.4M | — | ||
| Q2 25 | $145.9M | — | ||
| Q1 25 | $136.0M | — | ||
| Q4 24 | $161.8M | $308.6M | ||
| Q3 24 | $118.4M | $312.5M | ||
| Q2 24 | $110.4M | $302.6M | ||
| Q1 24 | $120.8M | $251.4M |
总债务CSGSICUI
| 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CSGSICUI
| Q4 25 | $283.7M | $2.1B | ||
| Q3 25 | $289.5M | $2.1B | ||
| Q2 25 | $290.7M | $2.1B | ||
| Q1 25 | $283.1M | $2.0B | ||
| Q4 24 | $282.6M | $2.0B | ||
| Q3 24 | $288.4M | $2.0B | ||
| Q2 24 | $273.3M | $2.0B | ||
| Q1 24 | $269.3M | $2.1B |
总资产CSGSICUI
| Q4 25 | $1.5B | $4.1B | ||
| Q3 25 | $1.5B | $4.1B | ||
| Q2 25 | $1.4B | $4.1B | ||
| Q1 25 | $1.4B | $4.2B | ||
| Q4 24 | $1.5B | $4.2B | ||
| Q3 24 | $1.4B | $4.3B | ||
| Q2 24 | $1.4B | $4.3B | ||
| Q1 24 | $1.3B | $4.3B |
负债/权益比CSGSICUI
| 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 | $60.6M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $36.0M |
| 自由现金流率自由现金流/营收 | 17.3% | 6.6% |
| 资本支出强度资本支出/营收 | 1.1% | 4.6% |
| 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 | $91.8M |
8季度趋势，按日历期对齐
经营现金流CSGSICUI
| Q4 25 | $59.2M | $60.6M | ||
| Q3 25 | $47.9M | $56.7M | ||
| Q2 25 | $37.3M | $11.2M | ||
| Q1 25 | $11.5M | $51.3M | ||
| Q4 24 | $82.5M | $40.2M | ||
| Q3 24 | $39.5M | $36.1M | ||
| Q2 24 | $43.1M | $82.0M | ||
| Q1 24 | $-29.4M | $45.8M |
自由现金流CSGSICUI
| Q4 25 | $55.8M | $36.0M | ||
| Q3 25 | $43.9M | $27.6M | ||
| Q2 25 | $34.6M | $-8.5M | ||
| Q1 25 | $7.1M | $36.7M | ||
| Q4 24 | $76.6M | $16.1M | ||
| Q3 24 | $32.0M | $16.2M | ||
| Q2 24 | $38.8M | $62.5M | ||
| Q1 24 | $-34.1M | $29.9M |
自由现金流率CSGSICUI
| Q4 25 | 17.3% | 6.6% | ||
| Q3 25 | 14.5% | 5.1% | ||
| Q2 25 | 11.6% | -1.5% | ||
| Q1 25 | 2.4% | 6.1% | ||
| Q4 24 | 24.2% | 2.6% | ||
| Q3 24 | 10.8% | 2.7% | ||
| Q2 24 | 13.4% | 10.5% | ||
| Q1 24 | -11.6% | 5.3% |
资本支出强度CSGSICUI
| Q4 25 | 1.1% | 4.6% | ||
| Q3 25 | 1.3% | 5.4% | ||
| Q2 25 | 0.9% | 3.6% | ||
| Q1 25 | 1.5% | 2.4% | ||
| Q4 24 | 1.9% | 3.8% | ||
| Q3 24 | 2.5% | 3.4% | ||
| Q2 24 | 1.5% | 3.3% | ||
| Q1 24 | 1.6% | 2.8% |
现金转化率CSGSICUI
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | — | ||
| Q2 25 | 3.04× | 0.32× | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 2.39× | — | ||
| Q3 24 | 2.07× | — | ||
| Q2 24 | 3.12× | — | ||
| Q1 24 | -1.51× | — |
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% |
ICUI
| Infusion Consumables | $284.7M | 53% |
| Infusion Systems | $176.3M | 33% |
| Vital Care | $79.7M | 15% |
