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南玻集团（CSGS）与LANDS' END, INC.（LE）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LANDS' END, INC.的1.0倍（$323.1M vs $317.5M），南玻集团净利率更高（2.2% vs 1.6%，领先0.5%），南玻集团同比增速更快（2.0% vs 0.1%），南玻集团自由现金流更多（$55.8M vs $-22.4M），过去两年南玻集团的营收复合增速更高（4.6% vs -0.9%）
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。
Lands' End是1963年诞生于美国芝加哥的服饰零售品牌，最初以邮购游艇用品起家，目前业务拓展至服饰、箱包与家居用品领域。截至2024年2月，品牌在美国本土共开设26家门店，总部位于威斯康星州道奇维尔。品牌名源自地名兰兹角，因创立时印刷错了撇号位置又无力重印，错拼的名称便沿用至今。
CSGS vs LE — 直观对比
营收规模更大
CSGS
是对方的1.0倍
$317.5M
营收增速更快
CSGS
高出1.9%
0.1%
净利率更高
CSGS
高出0.5%
1.6%
自由现金流更多
CSGS
多$78.2M
$-22.4M
两年增速更快
CSGS
近两年复合增速
-0.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $317.5M |
| 净利润 | $7.0M | $5.2M |
| 毛利率 | 50.0% | 51.8% |
| 营业利润率 | 9.0% | 5.3% |
| 净利率 | 2.2% | 1.6% |
| 营收同比 | 2.0% | 0.1% |
| 净利润同比 | -79.7% | 198.3% |
| 每股收益（稀释后） | $0.24 | $0.17 |
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CSGSLE
| Q4 25 | $323.1M | $317.5M | ||
| Q3 25 | $303.6M | — | ||
| Q2 25 | $297.1M | $261.2M | ||
| Q1 25 | $299.5M | — | ||
| Q4 24 | $316.7M | $318.6M | ||
| Q3 24 | $295.1M | $317.2M | ||
| Q2 24 | $290.3M | $285.5M | ||
| Q1 24 | $295.1M | $514.9M |
净利润CSGSLE
| Q4 25 | $7.0M | $5.2M | ||
| Q3 25 | $20.5M | — | ||
| Q2 25 | $12.3M | $-8.3M | ||
| Q1 25 | $16.1M | — | ||
| Q4 24 | $34.5M | $-593.0K | ||
| Q3 24 | $19.1M | $-5.3M | ||
| Q2 24 | $13.8M | $-6.4M | ||
| Q1 24 | $19.5M | $-8.6M |
毛利率CSGSLE
| Q4 25 | 50.0% | 51.8% | ||
| Q3 25 | 48.1% | — | ||
| Q2 25 | 49.5% | 50.8% | ||
| Q1 25 | 48.4% | — | ||
| Q4 24 | 51.3% | 50.6% | ||
| Q3 24 | 49.4% | 47.9% | ||
| Q2 24 | 47.3% | 48.7% | ||
| Q1 24 | 46.5% | 38.0% |
营业利润率CSGSLE
| Q4 25 | 9.0% | 5.3% | ||
| Q3 25 | 10.0% | — | ||
| Q2 25 | 10.0% | -0.9% | ||
| Q1 25 | 9.8% | — | ||
| Q4 24 | 13.4% | 2.9% | ||
| Q3 24 | 10.8% | 0.8% | ||
| Q2 24 | 8.8% | 0.8% | ||
| Q1 24 | 10.8% | 1.6% |
净利率CSGSLE
| Q4 25 | 2.2% | 1.6% | ||
| Q3 25 | 6.7% | — | ||
| Q2 25 | 4.1% | -3.2% | ||
| Q1 25 | 5.4% | — | ||
| Q4 24 | 10.9% | -0.2% | ||
| Q3 24 | 6.5% | -1.7% | ||
| Q2 24 | 4.8% | -2.3% | ||
| Q1 24 | 6.6% | -1.7% |
每股收益（稀释后）CSGSLE
| Q4 25 | $0.24 | $0.17 | ||
| Q3 25 | $0.73 | — | ||
| Q2 25 | $0.44 | $-0.27 | ||
| Q1 25 | $0.57 | — | ||
| Q4 24 | $1.20 | $-0.02 | ||
| Q3 24 | $0.67 | $-0.17 | ||
| Q2 24 | $0.48 | $-0.20 | ||
| Q1 24 | $0.68 | $-0.27 |
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 | $36.3M |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $231.0M |
| 总资产 | $1.5B | $852.7M |
| 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CSGSLE
| Q4 25 | $180.0M | $36.3M | ||
| Q3 25 | $158.4M | — | ||
| Q2 25 | $145.9M | $18.1M | ||
| Q1 25 | $136.0M | — | ||
| Q4 24 | $161.8M | $30.4M | ||
| Q3 24 | $118.4M | $25.6M | ||
| Q2 24 | $110.4M | $27.4M | ||
| Q1 24 | $120.8M | $25.3M |
总债务CSGSLE
| 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CSGSLE
| Q4 25 | $283.7M | $231.0M | ||
| Q3 25 | $289.5M | — | ||
| Q2 25 | $290.7M | $230.1M | ||
| Q1 25 | $283.1M | — | ||
| Q4 24 | $282.6M | $223.6M | ||
| Q3 24 | $288.4M | $226.5M | ||
| Q2 24 | $273.3M | $234.6M | ||
| Q1 24 | $269.3M | $241.6M |
总资产CSGSLE
| Q4 25 | $1.5B | $852.7M | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.4B | $760.5M | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.5B | $843.6M | ||
| Q3 24 | $1.4B | $802.5M | ||
| Q2 24 | $1.4B | $800.1M | ||
| Q1 24 | $1.3B | $811.5M |
负债/权益比CSGSLE
| 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 | $-15.7M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $-22.4M |
| 自由现金流率自由现金流/营收 | 17.3% | -7.1% |
| 资本支出强度资本支出/营收 | 1.1% | 2.1% |
| 现金转化率经营现金流/净利润 | 8.46× | -3.03× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $-55.0M |
8季度趋势，按日历期对齐
经营现金流CSGSLE
| Q4 25 | $59.2M | $-15.7M | ||
| Q3 25 | $47.9M | — | ||
| Q2 25 | $37.3M | $-22.5M | ||
| Q1 25 | $11.5M | — | ||
| Q4 24 | $82.5M | $-17.1M | ||
| Q3 24 | $39.5M | $30.7M | ||
| Q2 24 | $43.1M | $-25.8M | ||
| Q1 24 | $-29.4M | $93.9M |
自由现金流CSGSLE
| Q4 25 | $55.8M | $-22.4M | ||
| Q3 25 | $43.9M | — | ||
| Q2 25 | $34.6M | $-30.7M | ||
| Q1 25 | $7.1M | — | ||
| Q4 24 | $76.6M | $-27.8M | ||
| Q3 24 | $32.0M | $26.0M | ||
| Q2 24 | $38.8M | $-32.6M | ||
| Q1 24 | $-34.1M | $87.5M |
自由现金流率CSGSLE
| Q4 25 | 17.3% | -7.1% | ||
| Q3 25 | 14.5% | — | ||
| Q2 25 | 11.6% | -11.8% | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 24.2% | -8.7% | ||
| Q3 24 | 10.8% | 8.2% | ||
| Q2 24 | 13.4% | -11.4% | ||
| Q1 24 | -11.6% | 17.0% |
资本支出强度CSGSLE
| Q4 25 | 1.1% | 2.1% | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 0.9% | 3.2% | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 1.9% | 3.3% | ||
| Q3 24 | 2.5% | 1.5% | ||
| Q2 24 | 1.5% | 2.4% | ||
| Q1 24 | 1.6% | 1.2% |
现金转化率CSGSLE
| Q4 25 | 8.46× | -3.03× | ||
| Q3 25 | 2.34× | — | ||
| Q2 25 | 3.04× | — | ||
| 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% |
LE
| U Se Commerce | $179.8M | 57% |
| Business Outfitters Revenue | $78.8M | 25% |
| Licensing And Retail | $20.2M | 6% |
| Other | $19.8M | 6% |
| Third Party | $18.9M | 6% |
