vs
南玻集团（CSGS）与LGI Homes, Inc.（LGIH）财务数据对比。点击上方公司名可切换其他公司
LGI Homes, Inc.的季度营收约是南玻集团的1.5倍（$474.0M vs $323.1M），LGI Homes, Inc.净利率更高（3.7% vs 2.2%，领先1.5%），南玻集团同比增速更快（2.0% vs -15.0%），过去两年LGI Homes, Inc.的营收复合增速更高（10.1% 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。
LGI Homes是一家总部位于美国得克萨斯州的新建住宅开发商，业务聚焦美国西南部地区。据《建筑商》杂志统计，该公司目前是美国第十大住宅建筑商，2019年共交付房屋7690套，较2018年增长18.1%，全年房屋销售营收达18亿美元，行业规模位居美国前列。
CSGS vs LGIH — 直观对比
营收规模更大
LGIH
是对方的1.5倍
$323.1M
营收增速更快
CSGS
高出17.0%
-15.0%
净利率更高
LGIH
高出1.5%
2.2%
两年增速更快
LGIH
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $474.0M |
| 净利润 | $7.0M | $17.3M |
| 毛利率 | 50.0% | 17.7% |
| 营业利润率 | 9.0% | 3.9% |
| 净利率 | 2.2% | 3.7% |
| 营收同比 | 2.0% | -15.0% |
| 净利润同比 | -79.7% | -66.0% |
| 每股收益（稀释后） | $0.24 | $0.74 |
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CSGSLGIH
| Q4 25 | $323.1M | $474.0M | ||
| Q3 25 | $303.6M | $396.6M | ||
| Q2 25 | $297.1M | $483.5M | ||
| Q1 25 | $299.5M | $351.4M | ||
| Q4 24 | $316.7M | $557.4M | ||
| Q3 24 | $295.1M | $651.9M | ||
| Q2 24 | $290.3M | $602.5M | ||
| Q1 24 | $295.1M | $390.9M |
净利润CSGSLGIH
| Q4 25 | $7.0M | $17.3M | ||
| Q3 25 | $20.5M | $19.7M | ||
| Q2 25 | $12.3M | $31.5M | ||
| Q1 25 | $16.1M | $4.0M | ||
| Q4 24 | $34.5M | $50.9M | ||
| Q3 24 | $19.1M | $69.6M | ||
| Q2 24 | $13.8M | $58.6M | ||
| Q1 24 | $19.5M | $17.1M |
毛利率CSGSLGIH
| Q4 25 | 50.0% | 17.7% | ||
| Q3 25 | 48.1% | 21.5% | ||
| Q2 25 | 49.5% | 22.9% | ||
| Q1 25 | 48.4% | 21.0% | ||
| Q4 24 | 51.3% | 22.9% | ||
| Q3 24 | 49.4% | 25.1% | ||
| Q2 24 | 47.3% | 25.0% | ||
| Q1 24 | 46.5% | 23.4% |
营业利润率CSGSLGIH
| Q4 25 | 9.0% | 3.9% | ||
| Q3 25 | 10.0% | 5.4% | ||
| Q2 25 | 10.0% | 8.2% | ||
| Q1 25 | 9.8% | 0.0% | ||
| Q4 24 | 13.4% | 8.2% | ||
| Q3 24 | 10.8% | 12.3% | ||
| Q2 24 | 8.8% | 11.2% | ||
| Q1 24 | 10.8% | 4.8% |
净利率CSGSLGIH
| Q4 25 | 2.2% | 3.7% | ||
| Q3 25 | 6.7% | 5.0% | ||
| Q2 25 | 4.1% | 6.5% | ||
| Q1 25 | 5.4% | 1.1% | ||
| Q4 24 | 10.9% | 9.1% | ||
| Q3 24 | 6.5% | 10.7% | ||
| Q2 24 | 4.8% | 9.7% | ||
| Q1 24 | 6.6% | 4.4% |
每股收益（稀释后）CSGSLGIH
| Q4 25 | $0.24 | $0.74 | ||
| Q3 25 | $0.73 | $0.85 | ||
| Q2 25 | $0.44 | $1.36 | ||
| Q1 25 | $0.57 | $0.17 | ||
| Q4 24 | $1.20 | $2.15 | ||
| Q3 24 | $0.67 | $2.95 | ||
| Q2 24 | $0.48 | $2.48 | ||
| Q1 24 | $0.68 | $0.72 |
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 | $1.7B |
| 股东权益账面价值 | $283.7M | $2.1B |
| 总资产 | $1.5B | $3.9B |
| 负债/权益比越低杠杆越低 | 1.90× | 0.79× |
8季度趋势，按日历期对齐
现金及短期投资CSGSLGIH
| Q4 25 | $180.0M | — | ||
| Q3 25 | $158.4M | — | ||
| Q2 25 | $145.9M | — | ||
| Q1 25 | $136.0M | — | ||
| Q4 24 | $161.8M | $53.2M | ||
| Q3 24 | $118.4M | — | ||
| Q2 24 | $110.4M | — | ||
| Q1 24 | $120.8M | — |
总债务CSGSLGIH
| Q4 25 | $539.5M | $1.7B | ||
| Q3 25 | $538.6M | — | ||
| Q2 25 | $537.8M | — | ||
| Q1 25 | $537.6M | — | ||
| Q4 24 | $538.5M | $1.5B | ||
| Q3 24 | $539.5M | — | ||
| Q2 24 | $540.5M | — | ||
| Q1 24 | $541.5M | — |
股东权益CSGSLGIH
| 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 | $1.9B | ||
| Q1 24 | $269.3M | $1.9B |
总资产CSGSLGIH
| Q4 25 | $1.5B | $3.9B | ||
| Q3 25 | $1.5B | $4.0B | ||
| Q2 25 | $1.4B | $4.0B | ||
| Q1 25 | $1.4B | $3.9B | ||
| Q4 24 | $1.5B | $3.8B | ||
| Q3 24 | $1.4B | $3.8B | ||
| Q2 24 | $1.4B | $3.7B | ||
| Q1 24 | $1.3B | $3.5B |
负债/权益比CSGSLGIH
| Q4 25 | 1.90× | 0.79× | ||
| Q3 25 | 1.86× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 1.91× | 0.73× | ||
| 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 | $86.8M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | — |
| 自由现金流率自由现金流/营收 | 17.3% | — |
| 资本支出强度资本支出/营收 | 1.1% | 0.0% |
| 现金转化率经营现金流/净利润 | 8.46× | 5.01× |
| 过去12个月自由现金流最近4个季度 | $141.4M | — |
8季度趋势，按日历期对齐
经营现金流CSGSLGIH
| Q4 25 | $59.2M | $86.8M | ||
| Q3 25 | $47.9M | $-13.2M | ||
| Q2 25 | $37.3M | $-86.4M | ||
| Q1 25 | $11.5M | $-127.1M | ||
| Q4 24 | $82.5M | $57.0M | ||
| Q3 24 | $39.5M | $-17.8M | ||
| Q2 24 | $43.1M | $-83.5M | ||
| Q1 24 | $-29.4M | $-99.5M |
自由现金流CSGSLGIH
| Q4 25 | $55.8M | — | ||
| Q3 25 | $43.9M | $-13.3M | ||
| Q2 25 | $34.6M | $-86.4M | ||
| Q1 25 | $7.1M | $-128.0M | ||
| Q4 24 | $76.6M | $56.4M | ||
| Q3 24 | $32.0M | $-17.8M | ||
| Q2 24 | $38.8M | $-83.8M | ||
| Q1 24 | $-34.1M | $-100.5M |
自由现金流率CSGSLGIH
| Q4 25 | 17.3% | — | ||
| Q3 25 | 14.5% | -3.3% | ||
| Q2 25 | 11.6% | -17.9% | ||
| Q1 25 | 2.4% | -36.4% | ||
| Q4 24 | 24.2% | 10.1% | ||
| Q3 24 | 10.8% | -2.7% | ||
| Q2 24 | 13.4% | -13.9% | ||
| Q1 24 | -11.6% | -25.7% |
资本支出强度CSGSLGIH
| Q4 25 | 1.1% | 0.0% | ||
| Q3 25 | 1.3% | 0.0% | ||
| Q2 25 | 0.9% | 0.0% | ||
| Q1 25 | 1.5% | 0.2% | ||
| Q4 24 | 1.9% | 0.1% | ||
| Q3 24 | 2.5% | 0.0% | ||
| Q2 24 | 1.5% | 0.0% | ||
| Q1 24 | 1.6% | 0.3% |
现金转化率CSGSLGIH
| Q4 25 | 8.46× | 5.01× | ||
| Q3 25 | 2.34× | -0.67× | ||
| Q2 25 | 3.04× | -2.74× | ||
| Q1 25 | 0.71× | -31.83× | ||
| Q4 24 | 2.39× | 1.12× | ||
| Q3 24 | 2.07× | -0.26× | ||
| Q2 24 | 3.12× | -1.43× | ||
| Q1 24 | -1.51× | -5.83× |
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% |
LGIH
| West Reportable Segment | $128.2M | 27% |
| Southeast Reportable Segment | $118.9M | 25% |
| Central Reportable Segment | $105.8M | 22% |
| Florida Reportable Segment | $69.2M | 15% |
| Northwest Reportable Segment | $51.8M | 11% |
