vs
南玻集团（CSGS）与奥飞娱乐（MAX）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奥飞娱乐的1.0倍（$323.1M vs $310.0M），奥飞娱乐净利率更高（4.5% vs 2.2%，领先2.4%），奥飞娱乐同比增速更快（17.3% vs 2.0%），过去两年奥飞娱乐的营收复合增速更高（31.9% 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。
奥飞娱乐股份有限公司由蔡东青于1993年创立，是一家中国跨国综合企业集团，主营动漫、玩具、传媒资产与娱乐业务，2016年由原奥飞动漫更名而来。集团拥有国漫平台有妖气，还在美国设有影视公司奥飞影业，并宣布将在美国设立动漫业务部门。
CSGS vs MAX — 直观对比
营收规模更大
CSGS
是对方的1.0倍
$310.0M
营收增速更快
MAX
高出15.3%
2.0%
净利率更高
MAX
高出2.4%
2.2%
两年增速更快
MAX
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $310.0M |
| 净利润 | $7.0M | $14.0M |
| 毛利率 | 50.0% | 15.1% |
| 营业利润率 | 9.0% | 7.2% |
| 净利率 | 2.2% | 4.5% |
| 营收同比 | 2.0% | 17.3% |
| 净利润同比 | -79.7% | 701.8% |
| 每股收益（稀释后） | $0.24 | — |
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CSGSMAX
| Q1 26 | — | $310.0M | ||
| Q4 25 | $323.1M | $291.2M | ||
| Q3 25 | $303.6M | $306.5M | ||
| Q2 25 | $297.1M | $251.6M | ||
| Q1 25 | $299.5M | $264.3M | ||
| Q4 24 | $316.7M | $300.6M | ||
| Q3 24 | $295.1M | $259.1M | ||
| Q2 24 | $290.3M | $178.3M |
净利润CSGSMAX
| Q1 26 | — | $14.0M | ||
| Q4 25 | $7.0M | $31.4M | ||
| Q3 25 | $20.5M | $14.9M | ||
| Q2 25 | $12.3M | $-18.7M | ||
| Q1 25 | $16.1M | $-1.9M | ||
| Q4 24 | $34.5M | $4.6M | ||
| Q3 24 | $19.1M | $9.5M | ||
| Q2 24 | $13.8M | $3.6M |
毛利率CSGSMAX
| Q1 26 | — | 15.1% | ||
| Q4 25 | 50.0% | 15.4% | ||
| Q3 25 | 48.1% | 14.2% | ||
| Q2 25 | 49.5% | 15.0% | ||
| Q1 25 | 48.4% | 15.8% | ||
| Q4 24 | 51.3% | 16.3% | ||
| Q3 24 | 49.4% | 15.1% | ||
| Q2 24 | 47.3% | 17.8% |
营业利润率CSGSMAX
| Q1 26 | — | 7.2% | ||
| Q4 25 | 9.0% | 7.7% | ||
| Q3 25 | 10.0% | 6.4% | ||
| Q2 25 | 10.0% | -8.0% | ||
| Q1 25 | 9.8% | 0.0% | ||
| Q4 24 | 13.4% | 6.1% | ||
| Q3 24 | 10.8% | 6.0% | ||
| Q2 24 | 8.8% | 3.6% |
净利率CSGSMAX
| Q1 26 | — | 4.5% | ||
| Q4 25 | 2.2% | 10.8% | ||
| Q3 25 | 6.7% | 4.9% | ||
| Q2 25 | 4.1% | -7.4% | ||
| Q1 25 | 5.4% | -0.7% | ||
| Q4 24 | 10.9% | 1.5% | ||
| Q3 24 | 6.5% | 3.7% | ||
| Q2 24 | 4.8% | 2.0% |
每股收益（稀释后）CSGSMAX
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $0.50 | ||
| Q3 25 | $0.73 | $0.26 | ||
| Q2 25 | $0.44 | $-0.33 | ||
| Q1 25 | $0.57 | $-0.04 | ||
| Q4 24 | $1.20 | $0.09 | ||
| Q3 24 | $0.67 | $0.17 | ||
| Q2 24 | $0.48 | $0.07 |
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 | $26.1M |
| 总债务越低越好 | $539.5M | $163.5M |
| 股东权益账面价值 | $283.7M | — |
| 总资产 | $1.5B | $367.7M |
| 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CSGSMAX
| Q1 26 | — | $26.1M | ||
| Q4 25 | $180.0M | $46.9M | ||
| Q3 25 | $158.4M | $38.8M | ||
| Q2 25 | $145.9M | $85.4M | ||
| Q1 25 | $136.0M | $63.6M | ||
| Q4 24 | $161.8M | $43.3M | ||
| Q3 24 | $118.4M | $32.3M | ||
| Q2 24 | $110.4M | $28.7M |
总债务CSGSMAX
| Q1 26 | — | $163.5M | ||
| Q4 25 | $539.5M | $153.4M | ||
| Q3 25 | $538.6M | $155.7M | ||
| Q2 25 | $537.8M | $158.0M | ||
| Q1 25 | $537.6M | $160.2M | ||
| Q4 24 | $538.5M | $162.4M | ||
| Q3 24 | $539.5M | $164.7M | ||
| Q2 24 | $540.5M | $166.9M |
股东权益CSGSMAX
| Q1 26 | — | — | ||
| Q4 25 | $283.7M | $4.2M | ||
| Q3 25 | $289.5M | $-29.8M | ||
| Q2 25 | $290.7M | $-3.8M | ||
| Q1 25 | $283.1M | $7.9M | ||
| Q4 24 | $282.6M | $2.4M | ||
| Q3 24 | $288.4M | $-8.4M | ||
| Q2 24 | $273.3M | $-24.4M |
总资产CSGSMAX
| Q1 26 | — | $367.7M | ||
| Q4 25 | $1.5B | $383.8M | ||
| Q3 25 | $1.5B | $266.2M | ||
| Q2 25 | $1.4B | $249.4M | ||
| Q1 25 | $1.4B | $240.0M | ||
| Q4 24 | $1.5B | $262.4M | ||
| Q3 24 | $1.4B | $236.1M | ||
| Q2 24 | $1.4B | $198.2M |
负债/权益比CSGSMAX
| Q1 26 | — | — | ||
| Q4 25 | 1.90× | 36.88× | ||
| Q3 25 | 1.86× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.90× | 20.23× | ||
| Q4 24 | 1.91× | 68.31× | ||
| Q3 24 | 1.87× | — | ||
| Q2 24 | 1.98× | — |
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 | — |
| 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CSGSMAX
| Q1 26 | — | — | ||
| Q4 25 | $59.2M | $-7.4M | ||
| Q3 25 | $47.9M | $23.6M | ||
| Q2 25 | $37.3M | $25.7M | ||
| Q1 25 | $11.5M | $23.7M | ||
| Q4 24 | $82.5M | $14.5M | ||
| Q3 24 | $39.5M | $8.1M | ||
| Q2 24 | $43.1M | $21.6M |
自由现金流CSGSMAX
| Q1 26 | — | — | ||
| Q4 25 | $55.8M | $-7.5M | ||
| Q3 25 | $43.9M | $23.6M | ||
| Q2 25 | $34.6M | $25.5M | ||
| Q1 25 | $7.1M | $23.6M | ||
| Q4 24 | $76.6M | $14.5M | ||
| Q3 24 | $32.0M | $8.0M | ||
| Q2 24 | $38.8M | $21.5M |
自由现金流率CSGSMAX
| Q1 26 | — | — | ||
| Q4 25 | 17.3% | -2.6% | ||
| Q3 25 | 14.5% | 7.7% | ||
| Q2 25 | 11.6% | 10.2% | ||
| Q1 25 | 2.4% | 8.9% | ||
| Q4 24 | 24.2% | 4.8% | ||
| Q3 24 | 10.8% | 3.1% | ||
| Q2 24 | 13.4% | 12.0% |
资本支出强度CSGSMAX
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 0.0% | ||
| Q3 25 | 1.3% | 0.0% | ||
| Q2 25 | 0.9% | 0.1% | ||
| Q1 25 | 1.5% | 0.0% | ||
| Q4 24 | 1.9% | 0.0% | ||
| Q3 24 | 2.5% | 0.0% | ||
| Q2 24 | 1.5% | 0.1% |
现金转化率CSGSMAX
| Q1 26 | — | — | ||
| Q4 25 | 8.46× | -0.24× | ||
| Q3 25 | 2.34× | 1.58× | ||
| Q2 25 | 3.04× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 2.39× | 3.13× | ||
| Q3 24 | 2.07× | 0.85× | ||
| Q2 24 | 3.12× | 5.97× |
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% |
MAX
暂无分部数据
