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南玻集团（CSGS）与百胜餐饮集团（LCUT）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百胜餐饮集团的1.6倍（$323.1M vs $204.1M），百胜餐饮集团净利率更高（8.9% vs 2.2%，领先6.7%），南玻集团同比增速更快（2.0% vs -5.2%），南玻集团自由现金流更多（$55.8M vs $2.6M），过去两年百胜餐饮集团的营收复合增速更高（19.8% 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。
百胜餐饮集团是美国跨国快餐企业，1977年百事可乐收购肯德基、必胜客、塔可Bell后将其整合为旗下子公司，1997年百事剥离该业务板块后正式独立为百胜集团。集团目前运营肯德基、必胜客、塔可Bell、哈比特汉堡等多个餐饮品牌，同时布局相关餐饮科技业务，门店网络遍布全球多个国家和地区。
CSGS vs LCUT — 直观对比
营收规模更大
CSGS
是对方的1.6倍
$204.1M
营收增速更快
CSGS
高出7.2%
-5.2%
净利率更高
LCUT
高出6.7%
2.2%
自由现金流更多
CSGS
多$53.2M
$2.6M
两年增速更快
LCUT
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $204.1M |
| 净利润 | $7.0M | $18.2M |
| 毛利率 | 50.0% | 38.6% |
| 营业利润率 | 9.0% | 9.8% |
| 净利率 | 2.2% | 8.9% |
| 营收同比 | 2.0% | -5.2% |
| 净利润同比 | -79.7% | 103.5% |
| 每股收益（稀释后） | $0.24 | $0.83 |
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CSGSLCUT
| Q4 25 | $323.1M | $204.1M | ||
| Q3 25 | $303.6M | $171.9M | ||
| Q2 25 | $297.1M | $131.9M | ||
| Q1 25 | $299.5M | $140.1M | ||
| Q4 24 | $316.7M | $215.2M | ||
| Q3 24 | $295.1M | $183.8M | ||
| Q2 24 | $290.3M | $141.7M | ||
| Q1 24 | $295.1M | $142.2M |
净利润CSGSLCUT
| Q4 25 | $7.0M | $18.2M | ||
| Q3 25 | $20.5M | $-1.2M | ||
| Q2 25 | $12.3M | $-39.7M | ||
| Q1 25 | $16.1M | $-4.2M | ||
| Q4 24 | $34.5M | $8.9M | ||
| Q3 24 | $19.1M | $344.0K | ||
| Q2 24 | $13.8M | $-18.2M | ||
| Q1 24 | $19.5M | $-6.3M |
毛利率CSGSLCUT
| Q4 25 | 50.0% | 38.6% | ||
| Q3 25 | 48.1% | 35.1% | ||
| Q2 25 | 49.5% | 38.6% | ||
| Q1 25 | 48.4% | 36.1% | ||
| Q4 24 | 51.3% | 37.7% | ||
| Q3 24 | 49.4% | 36.7% | ||
| Q2 24 | 47.3% | 38.5% | ||
| Q1 24 | 46.5% | 40.5% |
营业利润率CSGSLCUT
| Q4 25 | 9.0% | 9.8% | ||
| Q3 25 | 10.0% | 3.9% | ||
| Q2 25 | 10.0% | -28.2% | ||
| Q1 25 | 9.8% | 0.8% | ||
| Q4 24 | 13.4% | 7.2% | ||
| Q3 24 | 10.8% | 4.7% | ||
| Q2 24 | 8.8% | 0.8% | ||
| Q1 24 | 10.8% | 1.3% |
净利率CSGSLCUT
| Q4 25 | 2.2% | 8.9% | ||
| Q3 25 | 6.7% | -0.7% | ||
| Q2 25 | 4.1% | -30.1% | ||
| Q1 25 | 5.4% | -3.0% | ||
| Q4 24 | 10.9% | 4.1% | ||
| Q3 24 | 6.5% | 0.2% | ||
| Q2 24 | 4.8% | -12.8% | ||
| Q1 24 | 6.6% | -4.4% |
每股收益（稀释后）CSGSLCUT
| Q4 25 | $0.24 | $0.83 | ||
| Q3 25 | $0.73 | $-0.05 | ||
| Q2 25 | $0.44 | $-1.83 | ||
| Q1 25 | $0.57 | $-0.19 | ||
| Q4 24 | $1.20 | $0.41 | ||
| Q3 24 | $0.67 | $0.02 | ||
| Q2 24 | $0.48 | $-0.85 | ||
| Q1 24 | $0.68 | $-0.29 |
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 | $4.3M |
| 总债务越低越好 | $539.5M | $135.0M |
| 股东权益账面价值 | $283.7M | $202.3M |
| 总资产 | $1.5B | $572.6M |
| 负债/权益比越低杠杆越低 | 1.90× | 0.67× |
8季度趋势，按日历期对齐
现金及短期投资CSGSLCUT
| Q4 25 | $180.0M | $4.3M | ||
| Q3 25 | $158.4M | $12.1M | ||
| Q2 25 | $145.9M | $12.0M | ||
| Q1 25 | $136.0M | $10.4M | ||
| Q4 24 | $161.8M | $2.9M | ||
| Q3 24 | $118.4M | $6.0M | ||
| Q2 24 | $110.4M | $3.4M | ||
| Q1 24 | $120.8M | $4.6M |
总债务CSGSLCUT
| Q4 25 | $539.5M | $135.0M | ||
| Q3 25 | $538.6M | — | ||
| Q2 25 | $537.8M | — | ||
| Q1 25 | $537.6M | — | ||
| Q4 24 | $538.5M | $142.5M | ||
| Q3 24 | $539.5M | — | ||
| Q2 24 | $540.5M | — | ||
| Q1 24 | $541.5M | — |
股东权益CSGSLCUT
| Q4 25 | $283.7M | $202.3M | ||
| Q3 25 | $289.5M | $184.6M | ||
| Q2 25 | $290.7M | $185.8M | ||
| Q1 25 | $283.1M | $225.7M | ||
| Q4 24 | $282.6M | $229.9M | ||
| Q3 24 | $288.4M | $220.9M | ||
| Q2 24 | $273.3M | $219.8M | ||
| Q1 24 | $269.3M | $223.7M |
总资产CSGSLCUT
| Q4 25 | $1.5B | $572.6M | ||
| Q3 25 | $1.5B | $581.1M | ||
| Q2 25 | $1.4B | $551.9M | ||
| Q1 25 | $1.4B | $594.6M | ||
| Q4 24 | $1.5B | $634.3M | ||
| Q3 24 | $1.4B | $668.7M | ||
| Q2 24 | $1.4B | $617.0M | ||
| Q1 24 | $1.3B | $602.7M |
负债/权益比CSGSLCUT
| Q4 25 | 1.90× | 0.67× | ||
| Q3 25 | 1.86× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 1.91× | 0.62× | ||
| 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 | $3.7M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $2.6M |
| 自由现金流率自由现金流/营收 | 17.3% | 1.3% |
| 资本支出强度资本支出/营收 | 1.1% | 0.6% |
| 现金转化率经营现金流/净利润 | 8.46× | 0.21× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $3.3M |
8季度趋势，按日历期对齐
经营现金流CSGSLCUT
| Q4 25 | $59.2M | $3.7M | ||
| Q3 25 | $47.9M | $-22.2M | ||
| Q2 25 | $37.3M | $9.3M | ||
| Q1 25 | $11.5M | $16.7M | ||
| Q4 24 | $82.5M | $20.3M | ||
| Q3 24 | $39.5M | $-22.7M | ||
| Q2 24 | $43.1M | $10.4M | ||
| Q1 24 | $-29.4M | $10.5M |
自由现金流CSGSLCUT
| Q4 25 | $55.8M | $2.6M | ||
| Q3 25 | $43.9M | $-22.7M | ||
| Q2 25 | $34.6M | $8.2M | ||
| Q1 25 | $7.1M | $15.1M | ||
| Q4 24 | $76.6M | $19.7M | ||
| Q3 24 | $32.0M | $-23.2M | ||
| Q2 24 | $38.8M | $9.9M | ||
| Q1 24 | $-34.1M | $9.9M |
自由现金流率CSGSLCUT
| Q4 25 | 17.3% | 1.3% | ||
| Q3 25 | 14.5% | -13.2% | ||
| Q2 25 | 11.6% | 6.2% | ||
| Q1 25 | 2.4% | 10.8% | ||
| Q4 24 | 24.2% | 9.1% | ||
| Q3 24 | 10.8% | -12.6% | ||
| Q2 24 | 13.4% | 7.0% | ||
| Q1 24 | -11.6% | 7.0% |
资本支出强度CSGSLCUT
| Q4 25 | 1.1% | 0.6% | ||
| Q3 25 | 1.3% | 0.3% | ||
| Q2 25 | 0.9% | 0.9% | ||
| Q1 25 | 1.5% | 1.1% | ||
| Q4 24 | 1.9% | 0.3% | ||
| Q3 24 | 2.5% | 0.3% | ||
| Q2 24 | 1.5% | 0.4% | ||
| Q1 24 | 1.6% | 0.4% |
现金转化率CSGSLCUT
| Q4 25 | 8.46× | 0.21× | ||
| Q3 25 | 2.34× | — | ||
| Q2 25 | 3.04× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 2.39× | 2.28× | ||
| Q3 24 | 2.07× | -65.89× | ||
| 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% |
LCUT
| Kitchenware | $114.3M | 56% |
| Tableware | $41.7M | 20% |
| Home Solutions | $29.4M | 14% |
| Other | $18.8M | 9% |
