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南玻集团（CSGS）与MACERICH CO（MAC）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MACERICH CO的1.2倍（$323.1M vs $261.7M），南玻集团净利率更高（2.2% vs -7.2%，领先9.3%），南玻集团同比增速更快（2.0% vs -4.4%），过去两年MACERICH CO的营收复合增速更高（12.0% 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。
Macerich是一家专注于购物中心投资的房地产投资信托基金，为美国第三大购物中心持有及运营商。截至2024年12月31日，公司共持有43处物业的权益，可租赁总面积达4300万平方英尺，公司名称由创始人Mace Siegel与Richard Cohen的名字组合而来。
CSGS vs MAC — 直观对比
营收规模更大
CSGS
是对方的1.2倍
$261.7M
营收增速更快
CSGS
高出6.4%
-4.4%
净利率更高
CSGS
高出9.3%
-7.2%
两年增速更快
MAC
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $261.7M |
| 净利润 | $7.0M | $-18.8M |
| 毛利率 | 50.0% | — |
| 营业利润率 | 9.0% | — |
| 净利率 | 2.2% | -7.2% |
| 营收同比 | 2.0% | -4.4% |
| 净利润同比 | -79.7% | 91.1% |
| 每股收益（稀释后） | $0.24 | $-0.08 |
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CSGSMAC
| Q4 25 | $323.1M | $261.7M | ||
| Q3 25 | $303.6M | $253.3M | ||
| Q2 25 | $297.1M | $249.8M | ||
| Q1 25 | $299.5M | $249.2M | ||
| Q4 24 | $316.7M | $273.7M | ||
| Q3 24 | $295.1M | $220.2M | ||
| Q2 24 | $290.3M | $215.5M | ||
| Q1 24 | $295.1M | $208.8M |
净利润CSGSMAC
| Q4 25 | $7.0M | $-18.8M | ||
| Q3 25 | $20.5M | $-87.4M | ||
| Q2 25 | $12.3M | $-40.9M | ||
| Q1 25 | $16.1M | $-50.1M | ||
| Q4 24 | $34.5M | $-211.2M | ||
| Q3 24 | $19.1M | $-108.2M | ||
| Q2 24 | $13.8M | $252.0M | ||
| Q1 24 | $19.5M | $-126.7M |
毛利率CSGSMAC
| Q4 25 | 50.0% | — | ||
| Q3 25 | 48.1% | — | ||
| Q2 25 | 49.5% | — | ||
| Q1 25 | 48.4% | — | ||
| Q4 24 | 51.3% | — | ||
| Q3 24 | 49.4% | — | ||
| Q2 24 | 47.3% | — | ||
| Q1 24 | 46.5% | — |
营业利润率CSGSMAC
| Q4 25 | 9.0% | — | ||
| Q3 25 | 10.0% | — | ||
| Q2 25 | 10.0% | — | ||
| Q1 25 | 9.8% | — | ||
| Q4 24 | 13.4% | — | ||
| Q3 24 | 10.8% | — | ||
| Q2 24 | 8.8% | — | ||
| Q1 24 | 10.8% | — |
净利率CSGSMAC
| Q4 25 | 2.2% | -7.2% | ||
| Q3 25 | 6.7% | -34.5% | ||
| Q2 25 | 4.1% | -16.4% | ||
| Q1 25 | 5.4% | -20.1% | ||
| Q4 24 | 10.9% | -77.2% | ||
| Q3 24 | 6.5% | -49.1% | ||
| Q2 24 | 4.8% | 116.9% | ||
| Q1 24 | 6.6% | -60.7% |
每股收益（稀释后）CSGSMAC
| Q4 25 | $0.24 | $-0.08 | ||
| Q3 25 | $0.73 | $-0.34 | ||
| Q2 25 | $0.44 | $-0.16 | ||
| Q1 25 | $0.57 | $-0.20 | ||
| Q4 24 | $1.20 | $-0.95 | ||
| Q3 24 | $0.67 | $-0.50 | ||
| Q2 24 | $0.48 | $1.16 | ||
| Q1 24 | $0.68 | $-0.59 |
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 | $280.2M |
| 总债务越低越好 | $539.5M | $5.1B |
| 股东权益账面价值 | $283.7M | $2.4B |
| 总资产 | $1.5B | $8.4B |
| 负债/权益比越低杠杆越低 | 1.90× | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资CSGSMAC
| Q4 25 | $180.0M | $280.2M | ||
| Q3 25 | $158.4M | $290.2M | ||
| Q2 25 | $145.9M | $131.1M | ||
| Q1 25 | $136.0M | $253.2M | ||
| Q4 24 | $161.8M | $89.9M | ||
| Q3 24 | $118.4M | $116.5M | ||
| Q2 24 | $110.4M | $70.7M | ||
| Q1 24 | $120.8M | $120.1M |
总债务CSGSMAC
| Q4 25 | $539.5M | $5.1B | ||
| Q3 25 | $538.6M | $5.1B | ||
| Q2 25 | $537.8M | $5.2B | ||
| Q1 25 | $537.6M | $5.2B | ||
| Q4 24 | $538.5M | $4.9B | ||
| Q3 24 | $539.5M | $4.3B | ||
| Q2 24 | $540.5M | $4.4B | ||
| Q1 24 | $541.5M | $4.1B |
股东权益CSGSMAC
| Q4 25 | $283.7M | $2.4B | ||
| Q3 25 | $289.5M | $2.5B | ||
| Q2 25 | $290.7M | $2.6B | ||
| Q1 25 | $283.1M | $2.7B | ||
| Q4 24 | $282.6M | $2.8B | ||
| Q3 24 | $288.4M | $2.5B | ||
| Q2 24 | $273.3M | $2.5B | ||
| Q1 24 | $269.3M | $2.3B |
总资产CSGSMAC
| Q4 25 | $1.5B | $8.4B | ||
| Q3 25 | $1.5B | $8.4B | ||
| Q2 25 | $1.4B | $8.7B | ||
| Q1 25 | $1.4B | $8.7B | ||
| Q4 24 | $1.5B | $8.6B | ||
| Q3 24 | $1.4B | $7.6B | ||
| Q2 24 | $1.4B | $7.8B | ||
| Q1 24 | $1.3B | $7.4B |
负债/权益比CSGSMAC
| Q4 25 | 1.90× | 2.07× | ||
| Q3 25 | 1.86× | 2.02× | ||
| Q2 25 | 1.85× | 2.02× | ||
| Q1 25 | 1.90× | 1.96× | ||
| Q4 24 | 1.91× | 1.78× | ||
| Q3 24 | 1.87× | 1.73× | ||
| Q2 24 | 1.98× | 1.75× | ||
| Q1 24 | 2.01× | 1.79× |
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 | $50.2M |
| 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% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流CSGSMAC
| Q4 25 | $59.2M | $50.2M | ||
| Q3 25 | $47.9M | $112.4M | ||
| Q2 25 | $37.3M | $70.5M | ||
| Q1 25 | $11.5M | $88.5M | ||
| Q4 24 | $82.5M | $54.9M | ||
| Q3 24 | $39.5M | $100.0M | ||
| Q2 24 | $43.1M | $67.4M | ||
| Q1 24 | $-29.4M | $61.1M |
自由现金流CSGSMAC
| Q4 25 | $55.8M | — | ||
| Q3 25 | $43.9M | — | ||
| Q2 25 | $34.6M | — | ||
| Q1 25 | $7.1M | — | ||
| Q4 24 | $76.6M | — | ||
| Q3 24 | $32.0M | — | ||
| Q2 24 | $38.8M | — | ||
| Q1 24 | $-34.1M | — |
自由现金流率CSGSMAC
| Q4 25 | 17.3% | — | ||
| Q3 25 | 14.5% | — | ||
| Q2 25 | 11.6% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 24.2% | — | ||
| Q3 24 | 10.8% | — | ||
| Q2 24 | 13.4% | — | ||
| Q1 24 | -11.6% | — |
资本支出强度CSGSMAC
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 1.9% | — | ||
| Q3 24 | 2.5% | — | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 1.6% | — |
现金转化率CSGSMAC
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | — | ||
| Q2 25 | 3.04× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 2.39× | — | ||
| Q3 24 | 2.07× | — | ||
| Q2 24 | 3.12× | 0.27× | ||
| 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% |
MAC
暂无分部数据
