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南玻集团（CSGS）与Mativ Holdings, Inc.（MATV）财务数据对比。点击上方公司名可切换其他公司
Mativ Holdings, Inc.的季度营收约是南玻集团的1.4倍（$463.1M vs $323.1M），Mativ Holdings, Inc.净利率更高（21.8% vs 2.2%，领先19.6%），南玻集团同比增速更快（2.0% vs 1.0%），南玻集团自由现金流更多（$55.8M vs $8.0M），过去两年南玻集团的营收复合增速更高（4.6% vs -3.8%）
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。
Mativ Holdings是一家全球特种材料制造商，主要生产高性能先进聚合物、无纺布、过滤解决方案及功能性涂层材料，服务医疗、工业、消费品、航空航天、能源等领域，业务遍及北美、欧洲及亚太地区。
CSGS vs MATV — 直观对比
营收规模更大
MATV
是对方的1.4倍
$323.1M
营收增速更快
CSGS
高出1.1%
1.0%
净利率更高
MATV
高出19.6%
2.2%
自由现金流更多
CSGS
多$47.8M
$8.0M
两年增速更快
CSGS
近两年复合增速
-3.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $463.1M |
| 净利润 | $7.0M | $100.8M |
| 毛利率 | 50.0% | 18.8% |
| 营业利润率 | 9.0% | 2.2% |
| 净利率 | 2.2% | 21.8% |
| 营收同比 | 2.0% | 1.0% |
| 净利润同比 | -79.7% | 6620.0% |
| 每股收益（稀释后） | $0.24 | $1.87 |
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CSGSMATV
| Q4 25 | $323.1M | $463.1M | ||
| Q3 25 | $303.6M | $513.7M | ||
| Q2 25 | $297.1M | $525.4M | ||
| Q1 25 | $299.5M | $484.8M | ||
| Q4 24 | $316.7M | $458.6M | ||
| Q3 24 | $295.1M | $498.5M | ||
| Q2 24 | $290.3M | $523.8M | ||
| Q1 24 | $295.1M | $500.2M |
净利润CSGSMATV
| Q4 25 | $7.0M | $100.8M | ||
| Q3 25 | $20.5M | $-3.2M | ||
| Q2 25 | $12.3M | $-9.5M | ||
| Q1 25 | $16.1M | $-425.5M | ||
| Q4 24 | $34.5M | $1.5M | ||
| Q3 24 | $19.1M | $-20.8M | ||
| Q2 24 | $13.8M | $-1.4M | ||
| Q1 24 | $19.5M | $-28.0M |
毛利率CSGSMATV
| Q4 25 | 50.0% | 18.8% | ||
| Q3 25 | 48.1% | 19.3% | ||
| Q2 25 | 49.5% | 19.7% | ||
| Q1 25 | 48.4% | 15.0% | ||
| Q4 24 | 51.3% | 16.9% | ||
| Q3 24 | 49.4% | 18.8% | ||
| Q2 24 | 47.3% | 20.8% | ||
| Q1 24 | 46.5% | 16.8% |
营业利润率CSGSMATV
| Q4 25 | 9.0% | 2.2% | ||
| Q3 25 | 10.0% | 3.1% | ||
| Q2 25 | 10.0% | 3.8% | ||
| Q1 25 | 9.8% | -88.8% | ||
| Q4 24 | 13.4% | 0.6% | ||
| Q3 24 | 10.8% | 1.4% | ||
| Q2 24 | 8.8% | 2.0% | ||
| Q1 24 | 10.8% | -2.8% |
净利率CSGSMATV
| Q4 25 | 2.2% | 21.8% | ||
| Q3 25 | 6.7% | -0.6% | ||
| Q2 25 | 4.1% | -1.8% | ||
| Q1 25 | 5.4% | -87.8% | ||
| Q4 24 | 10.9% | 0.3% | ||
| Q3 24 | 6.5% | -4.2% | ||
| Q2 24 | 4.8% | -0.3% | ||
| Q1 24 | 6.6% | -5.6% |
每股收益（稀释后）CSGSMATV
| Q4 25 | $0.24 | $1.87 | ||
| Q3 25 | $0.73 | $-0.06 | ||
| Q2 25 | $0.44 | $-0.18 | ||
| Q1 25 | $0.57 | $-7.82 | ||
| Q4 24 | $1.20 | $0.03 | ||
| Q3 24 | $0.67 | $-0.38 | ||
| Q2 24 | $0.48 | $-0.03 | ||
| Q1 24 | $0.68 | $-0.52 |
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 | $84.2M |
| 总债务越低越好 | $539.5M | $1.0B |
| 股东权益账面价值 | $283.7M | $498.7M |
| 总资产 | $1.5B | $2.1B |
| 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CSGSMATV
| Q4 25 | $180.0M | $84.2M | ||
| Q3 25 | $158.4M | $97.1M | ||
| Q2 25 | $145.9M | $95.6M | ||
| Q1 25 | $136.0M | $84.0M | ||
| Q4 24 | $161.8M | $94.3M | ||
| Q3 24 | $118.4M | $162.2M | ||
| Q2 24 | $110.4M | $133.4M | ||
| Q1 24 | $120.8M | $128.9M |
总债务CSGSMATV
| Q4 25 | $539.5M | $1.0B | ||
| Q3 25 | $538.6M | $1.0B | ||
| Q2 25 | $537.8M | $1.1B | ||
| Q1 25 | $537.6M | $1.1B | ||
| Q4 24 | $538.5M | $1.1B | ||
| Q3 24 | $539.5M | $1.2B | ||
| Q2 24 | $540.5M | $1.2B | ||
| Q1 24 | $541.5M | $1.2B |
股东权益CSGSMATV
| Q4 25 | $283.7M | $498.7M | ||
| Q3 25 | $289.5M | $397.4M | ||
| Q2 25 | $290.7M | $416.6M | ||
| Q1 25 | $283.1M | $428.2M | ||
| Q4 24 | $282.6M | $858.5M | ||
| Q3 24 | $288.4M | $882.3M | ||
| Q2 24 | $273.3M | $898.0M | ||
| Q1 24 | $269.3M | $906.9M |
总资产CSGSMATV
| Q4 25 | $1.5B | $2.1B | ||
| Q3 25 | $1.5B | $2.0B | ||
| Q2 25 | $1.4B | $2.1B | ||
| Q1 25 | $1.4B | $2.1B | ||
| Q4 24 | $1.5B | $2.4B | ||
| Q3 24 | $1.4B | $2.6B | ||
| Q2 24 | $1.4B | $2.6B | ||
| Q1 24 | $1.3B | $2.7B |
负债/权益比CSGSMATV
| Q4 25 | 1.90× | 2.07× | ||
| Q3 25 | 1.86× | 2.63× | ||
| Q2 25 | 1.85× | 2.66× | ||
| Q1 25 | 1.90× | 2.67× | ||
| Q4 24 | 1.91× | 1.30× | ||
| Q3 24 | 1.87× | 1.32× | ||
| Q2 24 | 1.98× | 1.29× | ||
| Q1 24 | 2.01× | 1.30× |
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 | $19.3M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $8.0M |
| 自由现金流率自由现金流/营收 | 17.3% | 1.7% |
| 资本支出强度资本支出/营收 | 1.1% | 2.4% |
| 现金转化率经营现金流/净利润 | 8.46× | 0.19× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $93.8M |
8季度趋势，按日历期对齐
经营现金流CSGSMATV
| Q4 25 | $59.2M | $19.3M | ||
| Q3 25 | $47.9M | $72.8M | ||
| Q2 25 | $37.3M | $57.6M | ||
| Q1 25 | $11.5M | $-15.9M | ||
| Q4 24 | $82.5M | $24.1M | ||
| Q3 24 | $39.5M | $37.6M | ||
| Q2 24 | $43.1M | $46.1M | ||
| Q1 24 | $-29.4M | $-13.0M |
自由现金流CSGSMATV
| Q4 25 | $55.8M | $8.0M | ||
| Q3 25 | $43.9M | $66.7M | ||
| Q2 25 | $34.6M | $48.9M | ||
| Q1 25 | $7.1M | $-29.8M | ||
| Q4 24 | $76.6M | $2.0M | ||
| Q3 24 | $32.0M | $25.5M | ||
| Q2 24 | $38.8M | $37.4M | ||
| Q1 24 | $-34.1M | $-25.1M |
自由现金流率CSGSMATV
| Q4 25 | 17.3% | 1.7% | ||
| Q3 25 | 14.5% | 13.0% | ||
| Q2 25 | 11.6% | 9.3% | ||
| Q1 25 | 2.4% | -6.1% | ||
| Q4 24 | 24.2% | 0.4% | ||
| Q3 24 | 10.8% | 5.1% | ||
| Q2 24 | 13.4% | 7.1% | ||
| Q1 24 | -11.6% | -5.0% |
资本支出强度CSGSMATV
| Q4 25 | 1.1% | 2.4% | ||
| Q3 25 | 1.3% | 1.2% | ||
| Q2 25 | 0.9% | 1.7% | ||
| Q1 25 | 1.5% | 2.9% | ||
| Q4 24 | 1.9% | 4.8% | ||
| Q3 24 | 2.5% | 2.4% | ||
| Q2 24 | 1.5% | 1.7% | ||
| Q1 24 | 1.6% | 2.4% |
现金转化率CSGSMATV
| Q4 25 | 8.46× | 0.19× | ||
| Q3 25 | 2.34× | — | ||
| Q2 25 | 3.04× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 2.39× | 16.07× | ||
| 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% |
MATV
| Other | $208.7M | 45% |
| SAS Segment | $157.4M | 34% |
| FAM Segment | $97.0M | 21% |
