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南玻集团（CSGS）与LINDBLAD EXPEDITIONS HOLDINGS, INC.（LIND）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LINDBLAD EXPEDITIONS HOLDINGS, INC.的1.8倍（$323.1M vs $183.2M），南玻集团净利率更高（2.2% vs -12.9%，领先15.0%），LINDBLAD EXPEDITIONS HOLDINGS, INC.同比增速更快（23.3% vs 2.0%），南玻集团自由现金流更多（$55.8M vs $3.5M），过去两年LINDBLAD EXPEDITIONS HOLDINGS, 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。
林德布拉德探险控股是一家专业探险旅行企业，总部位于美国纽约。目前公司运营15艘探险邮轮，载客量从28人到150人不等，可为旅行者提供覆盖全球七大洲目的地的探险邮轮旅程。
CSGS vs LIND — 直观对比
营收规模更大
CSGS
是对方的1.8倍
$183.2M
营收增速更快
LIND
高出21.2%
2.0%
净利率更高
CSGS
高出15.0%
-12.9%
自由现金流更多
CSGS
多$52.3M
$3.5M
两年增速更快
LIND
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $183.2M |
| 净利润 | $7.0M | $-23.6M |
| 毛利率 | 50.0% | 40.3% |
| 营业利润率 | 9.0% | -3.0% |
| 净利率 | 2.2% | -12.9% |
| 营收同比 | 2.0% | 23.3% |
| 净利润同比 | -79.7% | 6.0% |
| 每股收益（稀释后） | $0.24 | $-0.45 |
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CSGSLIND
| Q4 25 | $323.1M | $183.2M | ||
| Q3 25 | $303.6M | $240.2M | ||
| Q2 25 | $297.1M | $167.9M | ||
| Q1 25 | $299.5M | $179.7M | ||
| Q4 24 | $316.7M | $148.6M | ||
| Q3 24 | $295.1M | $206.0M | ||
| Q2 24 | $290.3M | $136.5M | ||
| Q1 24 | $295.1M | $153.6M |
净利润CSGSLIND
| Q4 25 | $7.0M | $-23.6M | ||
| Q3 25 | $20.5M | $1.2M | ||
| Q2 25 | $12.3M | $-8.5M | ||
| Q1 25 | $16.1M | $1.2M | ||
| Q4 24 | $34.5M | $-25.0M | ||
| Q3 24 | $19.1M | $22.5M | ||
| Q2 24 | $13.8M | $-24.7M | ||
| Q1 24 | $19.5M | $-4.0M |
毛利率CSGSLIND
| Q4 25 | 50.0% | 40.3% | ||
| Q3 25 | 48.1% | 48.2% | ||
| Q2 25 | 49.5% | 45.6% | ||
| Q1 25 | 48.4% | 48.3% | ||
| Q4 24 | 51.3% | 42.5% | ||
| Q3 24 | 49.4% | 46.7% | ||
| Q2 24 | 47.3% | 39.2% | ||
| Q1 24 | 46.5% | 45.0% |
营业利润率CSGSLIND
| Q4 25 | 9.0% | -3.0% | ||
| Q3 25 | 10.0% | 15.0% | ||
| Q2 25 | 10.0% | 2.6% | ||
| Q1 25 | 9.8% | 5.9% | ||
| Q4 24 | 13.4% | -5.1% | ||
| Q3 24 | 10.8% | 14.3% | ||
| Q2 24 | 8.8% | -6.0% | ||
| Q1 24 | 10.8% | 5.1% |
净利率CSGSLIND
| Q4 25 | 2.2% | -12.9% | ||
| Q3 25 | 6.7% | 0.5% | ||
| Q2 25 | 4.1% | -5.1% | ||
| Q1 25 | 5.4% | 0.6% | ||
| Q4 24 | 10.9% | -16.9% | ||
| Q3 24 | 6.5% | 10.9% | ||
| Q2 24 | 4.8% | -18.1% | ||
| Q1 24 | 6.6% | -2.6% |
每股收益（稀释后）CSGSLIND
| Q4 25 | $0.24 | $-0.45 | ||
| Q3 25 | $0.73 | $0.00 | ||
| Q2 25 | $0.44 | $-0.18 | ||
| Q1 25 | $0.57 | $0.00 | ||
| Q4 24 | $1.20 | $-0.45 | ||
| Q3 24 | $0.67 | $0.36 | ||
| Q2 24 | $0.48 | $-0.48 | ||
| Q1 24 | $0.68 | $-0.10 |
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 | $256.7M |
| 总债务越低越好 | $539.5M | $662.7M |
| 股东权益账面价值 | $283.7M | $-284.5M |
| 总资产 | $1.5B | $980.0M |
| 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CSGSLIND
| Q4 25 | $180.0M | $256.7M | ||
| Q3 25 | $158.4M | $261.8M | ||
| Q2 25 | $145.9M | $200.9M | ||
| Q1 25 | $136.0M | $188.9M | ||
| Q4 24 | $161.8M | $183.9M | ||
| Q3 24 | $118.4M | $193.9M | ||
| Q2 24 | $110.4M | $168.1M | ||
| Q1 24 | $120.8M | $177.7M |
总债务CSGSLIND
| Q4 25 | $539.5M | $662.7M | ||
| Q3 25 | $538.6M | $663.5M | ||
| Q2 25 | $537.8M | $627.3M | ||
| Q1 25 | $537.6M | $626.4M | ||
| Q4 24 | $538.5M | $625.5M | ||
| Q3 24 | $539.5M | $624.5M | ||
| Q2 24 | $540.5M | $623.6M | ||
| Q1 24 | $541.5M | $622.7M |
股东权益CSGSLIND
| Q4 25 | $283.7M | $-284.5M | ||
| Q3 25 | $289.5M | $-256.6M | ||
| Q2 25 | $290.7M | $-263.8M | ||
| Q1 25 | $283.1M | $-252.2M | ||
| Q4 24 | $282.6M | $-253.1M | ||
| Q3 24 | $288.4M | $-226.9M | ||
| Q2 24 | $273.3M | $-255.5M | ||
| Q1 24 | $269.3M | $-227.4M |
总资产CSGSLIND
| Q4 25 | $1.5B | $980.0M | ||
| Q3 25 | $1.5B | $976.5M | ||
| Q2 25 | $1.4B | $936.5M | ||
| Q1 25 | $1.4B | $908.8M | ||
| Q4 24 | $1.5B | $876.9M | ||
| Q3 24 | $1.4B | $889.8M | ||
| Q2 24 | $1.4B | $858.3M | ||
| Q1 24 | $1.3B | $868.0M |
负债/权益比CSGSLIND
| 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 | $14.4M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $3.5M |
| 自由现金流率自由现金流/营收 | 17.3% | 1.9% |
| 资本支出强度资本支出/营收 | 1.1% | 6.0% |
| 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 | $63.8M |
8季度趋势，按日历期对齐
经营现金流CSGSLIND
| Q4 25 | $59.2M | $14.4M | ||
| Q3 25 | $47.9M | $19.5M | ||
| Q2 25 | $37.3M | $29.2M | ||
| Q1 25 | $11.5M | $48.4M | ||
| Q4 24 | $82.5M | $1.7M | ||
| Q3 24 | $39.5M | $28.1M | ||
| Q2 24 | $43.1M | $18.6M | ||
| Q1 24 | $-29.4M | $43.9M |
自由现金流CSGSLIND
| Q4 25 | $55.8M | $3.5M | ||
| Q3 25 | $43.9M | $11.9M | ||
| Q2 25 | $34.6M | $13.5M | ||
| Q1 25 | $7.1M | $35.0M | ||
| Q4 24 | $76.6M | $-8.2M | ||
| Q3 24 | $32.0M | $18.4M | ||
| Q2 24 | $38.8M | $11.2M | ||
| Q1 24 | $-34.1M | $37.4M |
自由现金流率CSGSLIND
| Q4 25 | 17.3% | 1.9% | ||
| Q3 25 | 14.5% | 5.0% | ||
| Q2 25 | 11.6% | 8.0% | ||
| Q1 25 | 2.4% | 19.5% | ||
| Q4 24 | 24.2% | -5.5% | ||
| Q3 24 | 10.8% | 8.9% | ||
| Q2 24 | 13.4% | 8.2% | ||
| Q1 24 | -11.6% | 24.4% |
资本支出强度CSGSLIND
| Q4 25 | 1.1% | 6.0% | ||
| Q3 25 | 1.3% | 3.2% | ||
| Q2 25 | 0.9% | 9.4% | ||
| Q1 25 | 1.5% | 7.5% | ||
| Q4 24 | 1.9% | 6.6% | ||
| Q3 24 | 2.5% | 4.7% | ||
| Q2 24 | 1.5% | 5.4% | ||
| Q1 24 | 1.6% | 4.2% |
现金转化率CSGSLIND
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | 16.41× | ||
| Q2 25 | 3.04× | — | ||
| Q1 25 | 0.71× | 41.69× | ||
| Q4 24 | 2.39× | — | ||
| Q3 24 | 2.07× | 1.25× | ||
| 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% |
LIND
| Guest Ticket | $96.5M | 53% |
| Landexperience | $67.3M | 37% |
| Other Tour | $19.4M | 11% |
