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南玻集团（CSGS）与INTERPARFUMS INC（IPAR）财务数据对比。点击上方公司名可切换其他公司
INTERPARFUMS INC的季度营收约是南玻集团的1.2倍（$386.2M vs $323.1M），INTERPARFUMS INC净利率更高（7.3% vs 2.2%，领先5.1%），INTERPARFUMS INC同比增速更快（6.8% vs 2.0%），INTERPARFUMS INC自由现金流更多（$145.0M vs $55.8M），过去两年INTERPARFUMS 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。
Inter Parfums Inc是全球知名的高端香水企业，开发、生产并销售多款授权香水、身体护理及相关美妆产品，与多家顶级奢侈时尚生活方式品牌合作推出联名香氛系列，产品覆盖全球主要市场，通过百货、美妆专营店及官方电商渠道触达消费者。
CSGS vs IPAR — 直观对比
营收规模更大
IPAR
是对方的1.2倍
$323.1M
营收增速更快
IPAR
高出4.8%
2.0%
净利率更高
IPAR
高出5.1%
2.2%
自由现金流更多
IPAR
多$89.2M
$55.8M
两年增速更快
IPAR
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $386.2M |
| 净利润 | $7.0M | $28.1M |
| 毛利率 | 50.0% | 61.5% |
| 营业利润率 | 9.0% | 7.1% |
| 净利率 | 2.2% | 7.3% |
| 营收同比 | 2.0% | 6.8% |
| 净利润同比 | -79.7% | 16.0% |
| 每股收益（稀释后） | $0.24 | $0.88 |
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CSGSIPAR
| Q4 25 | $323.1M | $386.2M | ||
| Q3 25 | $303.6M | $429.6M | ||
| Q2 25 | $297.1M | $333.9M | ||
| Q1 25 | $299.5M | $338.8M | ||
| Q4 24 | $316.7M | $361.5M | ||
| Q3 24 | $295.1M | $424.6M | ||
| Q2 24 | $290.3M | $342.2M | ||
| Q1 24 | $295.1M | $324.0M |
净利润CSGSIPAR
| Q4 25 | $7.0M | $28.1M | ||
| Q3 25 | $20.5M | $65.8M | ||
| Q2 25 | $12.3M | $32.0M | ||
| Q1 25 | $16.1M | $42.5M | ||
| Q4 24 | $34.5M | $24.2M | ||
| Q3 24 | $19.1M | $62.3M | ||
| Q2 24 | $13.8M | $36.8M | ||
| Q1 24 | $19.5M | $41.0M |
毛利率CSGSIPAR
| Q4 25 | 50.0% | 61.5% | ||
| Q3 25 | 48.1% | 63.5% | ||
| Q2 25 | 49.5% | 66.2% | ||
| Q1 25 | 48.4% | 63.7% | ||
| Q4 24 | 51.3% | 64.5% | ||
| Q3 24 | 49.4% | 63.9% | ||
| Q2 24 | 47.3% | 64.5% | ||
| Q1 24 | 46.5% | 62.5% |
营业利润率CSGSIPAR
| Q4 25 | 9.0% | 7.1% | ||
| Q3 25 | 10.0% | 25.3% | ||
| Q2 25 | 10.0% | 17.7% | ||
| Q1 25 | 9.8% | 22.2% | ||
| Q4 24 | 13.4% | 10.0% | ||
| Q3 24 | 10.8% | 25.0% | ||
| Q2 24 | 8.8% | 18.9% | ||
| Q1 24 | 10.8% | 21.0% |
净利率CSGSIPAR
| Q4 25 | 2.2% | 7.3% | ||
| Q3 25 | 6.7% | 15.3% | ||
| Q2 25 | 4.1% | 9.6% | ||
| Q1 25 | 5.4% | 12.5% | ||
| Q4 24 | 10.9% | 6.7% | ||
| Q3 24 | 6.5% | 14.7% | ||
| Q2 24 | 4.8% | 10.8% | ||
| Q1 24 | 6.6% | 12.7% |
每股收益（稀释后）CSGSIPAR
| Q4 25 | $0.24 | $0.88 | ||
| Q3 25 | $0.73 | $2.05 | ||
| Q2 25 | $0.44 | $0.99 | ||
| Q1 25 | $0.57 | $1.32 | ||
| Q4 24 | $1.20 | $0.78 | ||
| Q3 24 | $0.67 | $1.93 | ||
| Q2 24 | $0.48 | $1.14 | ||
| Q1 24 | $0.68 | $1.27 |
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 | $137.1M |
| 总债务越低越好 | $539.5M | $176.0M |
| 股东权益账面价值 | $283.7M | $880.7M |
| 总资产 | $1.5B | $1.6B |
| 负债/权益比越低杠杆越低 | 1.90× | 0.20× |
8季度趋势，按日历期对齐
现金及短期投资CSGSIPAR
| Q4 25 | $180.0M | $137.1M | ||
| Q3 25 | $158.4M | $77.5M | ||
| Q2 25 | $145.9M | $53.9M | ||
| Q1 25 | $136.0M | $75.3M | ||
| Q4 24 | $161.8M | $109.3M | ||
| Q3 24 | $118.4M | $78.8M | ||
| Q2 24 | $110.4M | $37.7M | ||
| Q1 24 | $120.8M | $76.1M |
总债务CSGSIPAR
| Q4 25 | $539.5M | $176.0M | ||
| Q3 25 | $538.6M | — | ||
| Q2 25 | $537.8M | — | ||
| Q1 25 | $537.6M | — | ||
| Q4 24 | $538.5M | $157.3M | ||
| Q3 24 | $539.5M | — | ||
| Q2 24 | $540.5M | — | ||
| Q1 24 | $541.5M | — |
股东权益CSGSIPAR
| Q4 25 | $283.7M | $880.7M | ||
| Q3 25 | $289.5M | $870.9M | ||
| Q2 25 | $290.7M | $839.4M | ||
| Q1 25 | $283.1M | $788.6M | ||
| Q4 24 | $282.6M | $744.9M | ||
| Q3 24 | $288.4M | $778.5M | ||
| Q2 24 | $273.3M | $717.1M | ||
| Q1 24 | $269.3M | $708.1M |
总资产CSGSIPAR
| Q4 25 | $1.5B | $1.6B | ||
| Q3 25 | $1.5B | $1.6B | ||
| Q2 25 | $1.4B | $1.6B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.5B | $1.4B | ||
| Q3 24 | $1.4B | $1.5B | ||
| Q2 24 | $1.4B | $1.4B | ||
| Q1 24 | $1.3B | $1.3B |
负债/权益比CSGSIPAR
| Q4 25 | 1.90× | 0.20× | ||
| Q3 25 | 1.86× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 1.91× | 0.21× | ||
| 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 | $146.5M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $145.0M |
| 自由现金流率自由现金流/营收 | 17.3% | 37.5% |
| 资本支出强度资本支出/营收 | 1.1% | 0.4% |
| 现金转化率经营现金流/净利润 | 8.46× | 5.21× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $190.5M |
8季度趋势，按日历期对齐
经营现金流CSGSIPAR
| Q4 25 | $59.2M | $146.5M | ||
| Q3 25 | $47.9M | $63.9M | ||
| Q2 25 | $37.3M | $11.9M | ||
| Q1 25 | $11.5M | $-7.4M | ||
| Q4 24 | $82.5M | $138.0M | ||
| Q3 24 | $39.5M | $76.1M | ||
| Q2 24 | $43.1M | $25.5M | ||
| Q1 24 | $-29.4M | $-52.0M |
自由现金流CSGSIPAR
| Q4 25 | $55.8M | $145.0M | ||
| Q3 25 | $43.9M | $57.6M | ||
| Q2 25 | $34.6M | $-3.3M | ||
| Q1 25 | $7.1M | $-8.8M | ||
| Q4 24 | $76.6M | $136.1M | ||
| Q3 24 | $32.0M | $75.4M | ||
| Q2 24 | $38.8M | $24.4M | ||
| Q1 24 | $-34.1M | $-53.0M |
自由现金流率CSGSIPAR
| Q4 25 | 17.3% | 37.5% | ||
| Q3 25 | 14.5% | 13.4% | ||
| Q2 25 | 11.6% | -1.0% | ||
| Q1 25 | 2.4% | -2.6% | ||
| Q4 24 | 24.2% | 37.7% | ||
| Q3 24 | 10.8% | 17.8% | ||
| Q2 24 | 13.4% | 7.1% | ||
| Q1 24 | -11.6% | -16.4% |
资本支出强度CSGSIPAR
| Q4 25 | 1.1% | 0.4% | ||
| Q3 25 | 1.3% | 1.5% | ||
| Q2 25 | 0.9% | 4.5% | ||
| Q1 25 | 1.5% | 0.4% | ||
| Q4 24 | 1.9% | 0.5% | ||
| Q3 24 | 2.5% | 0.2% | ||
| Q2 24 | 1.5% | 0.3% | ||
| Q1 24 | 1.6% | 0.3% |
现金转化率CSGSIPAR
| Q4 25 | 8.46× | 5.21× | ||
| Q3 25 | 2.34× | 0.97× | ||
| Q2 25 | 3.04× | 0.37× | ||
| Q1 25 | 0.71× | -0.17× | ||
| Q4 24 | 2.39× | 5.69× | ||
| Q3 24 | 2.07× | 1.22× | ||
| Q2 24 | 3.12× | 0.69× | ||
| Q1 24 | -1.51× | -1.27× |
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% |
IPAR
| European Based Operations | $232.7M | 60% |
| United States Based Operations | $155.2M | 40% |
