vs
南玻集团（CSGS）与MARCUS CORP（MCS）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MARCUS CORP的1.7倍（$323.1M vs $193.5M），MARCUS CORP同比增速更快（2.8% vs 2.0%），南玻集团自由现金流更多（$55.8M vs $26.4M），过去两年MARCUS CORP的营收复合增速更高（18.2% 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。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
CSGS vs MCS — 直观对比
营收规模更大
CSGS
是对方的1.7倍
$193.5M
营收增速更快
MCS
高出0.7%
2.0%
自由现金流更多
CSGS
多$29.4M
$26.4M
两年增速更快
MCS
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $193.5M |
| 净利润 | $7.0M | — |
| 毛利率 | 50.0% | — |
| 营业利润率 | 9.0% | 0.9% |
| 净利率 | 2.2% | — |
| 营收同比 | 2.0% | 2.8% |
| 净利润同比 | -79.7% | — |
| 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CSGSMCS
| Q4 25 | $323.1M | $193.5M | ||
| Q3 25 | $303.6M | $210.2M | ||
| Q2 25 | $297.1M | $206.0M | ||
| Q1 25 | $299.5M | $148.8M | ||
| Q4 24 | $316.7M | $188.3M | ||
| Q3 24 | $295.1M | $232.7M | ||
| Q2 24 | $290.3M | $176.0M | ||
| Q1 24 | $295.1M | $138.5M |
净利润CSGSMCS
| Q4 25 | $7.0M | — | ||
| Q3 25 | $20.5M | $16.2M | ||
| Q2 25 | $12.3M | $7.3M | ||
| Q1 25 | $16.1M | $-16.8M | ||
| Q4 24 | $34.5M | $986.0K | ||
| Q3 24 | $19.1M | $23.3M | ||
| Q2 24 | $13.8M | $-20.2M | ||
| Q1 24 | $19.5M | $-11.9M |
毛利率CSGSMCS
| 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CSGSMCS
| Q4 25 | 9.0% | 0.9% | ||
| Q3 25 | 10.0% | 10.8% | ||
| Q2 25 | 10.0% | 6.3% | ||
| Q1 25 | 9.8% | -13.7% | ||
| Q4 24 | 13.4% | -1.2% | ||
| Q3 24 | 10.8% | 14.1% | ||
| Q2 24 | 8.8% | 1.3% | ||
| Q1 24 | 10.8% | -12.0% |
净利率CSGSMCS
| Q4 25 | 2.2% | — | ||
| Q3 25 | 6.7% | 7.7% | ||
| Q2 25 | 4.1% | 3.6% | ||
| Q1 25 | 5.4% | -11.3% | ||
| Q4 24 | 10.9% | 0.5% | ||
| Q3 24 | 6.5% | 10.0% | ||
| Q2 24 | 4.8% | -11.5% | ||
| Q1 24 | 6.6% | -8.6% |
每股收益（稀释后）CSGSMCS
| Q4 25 | $0.24 | — | ||
| Q3 25 | $0.73 | — | ||
| Q2 25 | $0.44 | — | ||
| Q1 25 | $0.57 | — | ||
| Q4 24 | $1.20 | — | ||
| Q3 24 | $0.67 | — | ||
| Q2 24 | $0.48 | — | ||
| Q1 24 | $0.68 | — |
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 | $23.4M |
| 总债务越低越好 | $539.5M | $159.0M |
| 股东权益账面价值 | $283.7M | $457.4M |
| 总资产 | $1.5B | $1.0B |
| 负债/权益比越低杠杆越低 | 1.90× | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资CSGSMCS
| Q4 25 | $180.0M | $23.4M | ||
| Q3 25 | $158.4M | $7.4M | ||
| Q2 25 | $145.9M | $14.9M | ||
| Q1 25 | $136.0M | $11.9M | ||
| Q4 24 | $161.8M | $40.8M | ||
| Q3 24 | $118.4M | $28.4M | ||
| Q2 24 | $110.4M | $32.8M | ||
| Q1 24 | $120.8M | $17.3M |
总债务CSGSMCS
| Q4 25 | $539.5M | $159.0M | ||
| Q3 25 | $538.6M | $162.0M | ||
| Q2 25 | $537.8M | $179.9M | ||
| Q1 25 | $537.6M | $198.9M | ||
| Q4 24 | $538.5M | $159.1M | ||
| Q3 24 | $539.5M | $173.1M | ||
| Q2 24 | $540.5M | $175.7M | ||
| Q1 24 | $541.5M | $169.8M |
股东权益CSGSMCS
| Q4 25 | $283.7M | $457.4M | ||
| Q3 25 | $289.5M | $454.3M | ||
| Q2 25 | $290.7M | $448.4M | ||
| Q1 25 | $283.1M | $441.8M | ||
| Q4 24 | $282.6M | $464.9M | ||
| Q3 24 | $288.4M | $462.3M | ||
| Q2 24 | $273.3M | $449.4M | ||
| Q1 24 | $269.3M | $459.3M |
总资产CSGSMCS
| Q4 25 | $1.5B | $1.0B | ||
| Q3 25 | $1.5B | $1.0B | ||
| Q2 25 | $1.4B | $1.0B | ||
| Q1 25 | $1.4B | $1.0B | ||
| Q4 24 | $1.5B | $1.0B | ||
| Q3 24 | $1.4B | $1.0B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.3B | $1.0B |
负债/权益比CSGSMCS
| Q4 25 | 1.90× | 0.35× | ||
| Q3 25 | 1.86× | 0.36× | ||
| Q2 25 | 1.85× | 0.40× | ||
| Q1 25 | 1.90× | 0.45× | ||
| Q4 24 | 1.91× | 0.34× | ||
| Q3 24 | 1.87× | 0.37× | ||
| Q2 24 | 1.98× | 0.39× | ||
| Q1 24 | 2.01× | 0.37× |
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 | $48.8M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $26.4M |
| 自由现金流率自由现金流/营收 | 17.3% | 13.6% |
| 资本支出强度资本支出/营收 | 1.1% | 11.6% |
| 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 | $989.0K |
8季度趋势，按日历期对齐
经营现金流CSGSMCS
| Q4 25 | $59.2M | $48.8M | ||
| Q3 25 | $47.9M | $39.1M | ||
| Q2 25 | $37.3M | $31.6M | ||
| Q1 25 | $11.5M | $-35.3M | ||
| Q4 24 | $82.5M | $52.6M | ||
| Q3 24 | $39.5M | $30.5M | ||
| Q2 24 | $43.1M | $36.0M | ||
| Q1 24 | $-29.4M | $-15.1M |
自由现金流CSGSMCS
| Q4 25 | $55.8M | $26.4M | ||
| Q3 25 | $43.9M | $18.2M | ||
| Q2 25 | $34.6M | $14.7M | ||
| Q1 25 | $7.1M | $-58.3M | ||
| Q4 24 | $76.6M | $27.1M | ||
| Q3 24 | $32.0M | $12.0M | ||
| Q2 24 | $38.8M | $16.1M | ||
| Q1 24 | $-34.1M | $-30.5M |
自由现金流率CSGSMCS
| Q4 25 | 17.3% | 13.6% | ||
| Q3 25 | 14.5% | 8.7% | ||
| Q2 25 | 11.6% | 7.1% | ||
| Q1 25 | 2.4% | -39.2% | ||
| Q4 24 | 24.2% | 14.4% | ||
| Q3 24 | 10.8% | 5.2% | ||
| Q2 24 | 13.4% | 9.2% | ||
| Q1 24 | -11.6% | -22.0% |
资本支出强度CSGSMCS
| Q4 25 | 1.1% | 11.6% | ||
| Q3 25 | 1.3% | 9.9% | ||
| Q2 25 | 0.9% | 8.2% | ||
| Q1 25 | 1.5% | 15.5% | ||
| Q4 24 | 1.9% | 13.5% | ||
| Q3 24 | 2.5% | 7.9% | ||
| Q2 24 | 1.5% | 11.3% | ||
| Q1 24 | 1.6% | 11.1% |
现金转化率CSGSMCS
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | 2.41× | ||
| Q2 25 | 3.04× | 4.32× | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 2.39× | 53.31× | ||
| Q3 24 | 2.07× | 1.31× | ||
| 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% |
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
