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南玻集团（CSGS）与MERIT MEDICAL SYSTEMS INC（MMSI）财务数据对比。点击上方公司名可切换其他公司
MERIT MEDICAL SYSTEMS INC的季度营收约是南玻集团的1.2倍（$381.9M vs $323.1M），MERIT MEDICAL SYSTEMS INC净利率更高（10.7% vs 2.2%，领先8.6%），MERIT MEDICAL SYSTEMS INC同比增速更快（7.5% vs 2.0%），南玻集团自由现金流更多（$55.8M vs $24.7M），过去两年MERIT MEDICAL SYSTEMS INC的营收复合增速更高（6.3% 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。
梅里特医疗系统公司是一家全球性医疗设备企业，设计、生产和销售适用于心脏病学、放射学、肿瘤学、内窥镜及重症监护领域的介入和诊断产品，为全球医院及医疗机构提供微创医疗解决方案，助力提升患者疗效和临床操作效率。
CSGS vs MMSI — 直观对比
营收规模更大
MMSI
是对方的1.2倍
$323.1M
营收增速更快
MMSI
高出5.4%
2.0%
净利率更高
MMSI
高出8.6%
2.2%
自由现金流更多
CSGS
多$31.1M
$24.7M
两年增速更快
MMSI
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $381.9M |
| 净利润 | $7.0M | $41.0M |
| 毛利率 | 50.0% | 48.4% |
| 营业利润率 | 9.0% | 11.6% |
| 净利率 | 2.2% | 10.7% |
| 营收同比 | 2.0% | 7.5% |
| 净利润同比 | -79.7% | 36.0% |
| 每股收益（稀释后） | $0.24 | $0.68 |
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CSGSMMSI
| Q1 26 | — | $381.9M | ||
| Q4 25 | $323.1M | $393.9M | ||
| Q3 25 | $303.6M | $384.2M | ||
| Q2 25 | $297.1M | $382.5M | ||
| Q1 25 | $299.5M | $355.4M | ||
| Q4 24 | $316.7M | $355.2M | ||
| Q3 24 | $295.1M | $339.8M | ||
| Q2 24 | $290.3M | $338.0M |
净利润CSGSMMSI
| Q1 26 | — | $41.0M | ||
| Q4 25 | $7.0M | $38.0M | ||
| Q3 25 | $20.5M | $27.8M | ||
| Q2 25 | $12.3M | $32.6M | ||
| Q1 25 | $16.1M | $30.1M | ||
| Q4 24 | $34.5M | $27.9M | ||
| Q3 24 | $19.1M | $28.4M | ||
| Q2 24 | $13.8M | $35.7M |
毛利率CSGSMMSI
| Q1 26 | — | 48.4% | ||
| Q4 25 | 50.0% | 49.6% | ||
| Q3 25 | 48.1% | 48.5% | ||
| Q2 25 | 49.5% | 48.2% | ||
| Q1 25 | 48.4% | 48.4% | ||
| Q4 24 | 51.3% | 48.7% | ||
| Q3 24 | 49.4% | 46.4% | ||
| Q2 24 | 47.3% | 47.7% |
营业利润率CSGSMMSI
| Q1 26 | — | 11.6% | ||
| Q4 25 | 9.0% | 13.8% | ||
| Q3 25 | 10.0% | 11.1% | ||
| Q2 25 | 10.0% | 12.3% | ||
| Q1 25 | 9.8% | 11.5% | ||
| Q4 24 | 13.4% | 10.3% | ||
| Q3 24 | 10.8% | 11.0% | ||
| Q2 24 | 8.8% | 13.6% |
净利率CSGSMMSI
| Q1 26 | — | 10.7% | ||
| Q4 25 | 2.2% | 9.6% | ||
| Q3 25 | 6.7% | 7.2% | ||
| Q2 25 | 4.1% | 8.5% | ||
| Q1 25 | 5.4% | 8.5% | ||
| Q4 24 | 10.9% | 7.9% | ||
| Q3 24 | 6.5% | 8.4% | ||
| Q2 24 | 4.8% | 10.6% |
每股收益（稀释后）CSGSMMSI
| Q1 26 | — | $0.68 | ||
| Q4 25 | $0.24 | $0.64 | ||
| Q3 25 | $0.73 | $0.46 | ||
| Q2 25 | $0.44 | $0.54 | ||
| Q1 25 | $0.57 | $0.49 | ||
| Q4 24 | $1.20 | $0.46 | ||
| Q3 24 | $0.67 | $0.48 | ||
| Q2 24 | $0.48 | $0.61 |
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 | $488.1M |
| 总债务越低越好 | $539.5M | $735.2M |
| 股东权益账面价值 | $283.7M | $1.6B |
| 总资产 | $1.5B | $2.7B |
| 负债/权益比越低杠杆越低 | 1.90× | 0.45× |
8季度趋势，按日历期对齐
现金及短期投资CSGSMMSI
| Q1 26 | — | $488.1M | ||
| Q4 25 | $180.0M | $446.4M | ||
| Q3 25 | $158.4M | $392.5M | ||
| Q2 25 | $145.9M | $341.8M | ||
| Q1 25 | $136.0M | $395.5M | ||
| Q4 24 | $161.8M | $376.7M | ||
| Q3 24 | $118.4M | $523.1M | ||
| Q2 24 | $110.4M | $636.7M |
总债务CSGSMMSI
| Q1 26 | — | $735.2M | ||
| Q4 25 | $539.5M | $734.0M | ||
| Q3 25 | $538.6M | $732.9M | ||
| Q2 25 | $537.8M | $731.8M | ||
| Q1 25 | $537.6M | $730.7M | ||
| Q4 24 | $538.5M | $729.6M | ||
| Q3 24 | $539.5M | $750.5M | ||
| Q2 24 | $540.5M | $801.3M |
股东权益CSGSMMSI
| Q1 26 | — | $1.6B | ||
| Q4 25 | $283.7M | $1.6B | ||
| Q3 25 | $289.5M | $1.5B | ||
| Q2 25 | $290.7M | $1.5B | ||
| Q1 25 | $283.1M | $1.4B | ||
| Q4 24 | $282.6M | $1.4B | ||
| Q3 24 | $288.4M | $1.3B | ||
| Q2 24 | $273.3M | $1.3B |
总资产CSGSMMSI
| Q1 26 | — | $2.7B | ||
| Q4 25 | $1.5B | $2.7B | ||
| Q3 25 | $1.5B | $2.6B | ||
| Q2 25 | $1.4B | $2.6B | ||
| Q1 25 | $1.4B | $2.5B | ||
| Q4 24 | $1.5B | $2.4B | ||
| Q3 24 | $1.4B | $2.4B | ||
| Q2 24 | $1.4B | $2.4B |
负债/权益比CSGSMMSI
| Q1 26 | — | 0.45× | ||
| Q4 25 | 1.90× | 0.46× | ||
| Q3 25 | 1.86× | 0.48× | ||
| Q2 25 | 1.85× | 0.49× | ||
| Q1 25 | 1.90× | 0.51× | ||
| Q4 24 | 1.91× | 0.53× | ||
| Q3 24 | 1.87× | 0.57× | ||
| Q2 24 | 1.98× | 0.62× |
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 | $24.7M |
| 自由现金流率自由现金流/营收 | 17.3% | 6.5% |
| 资本支出强度资本支出/营收 | 1.1% | 4.2% |
| 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 | $220.8M |
8季度趋势，按日历期对齐
经营现金流CSGSMMSI
| Q1 26 | — | — | ||
| Q4 25 | $59.2M | $98.5M | ||
| Q3 25 | $47.9M | $75.0M | ||
| Q2 25 | $37.3M | $83.3M | ||
| Q1 25 | $11.5M | $40.6M | ||
| Q4 24 | $82.5M | $68.7M | ||
| Q3 24 | $39.5M | $47.3M | ||
| Q2 24 | $43.1M | $68.5M |
自由现金流CSGSMMSI
| Q1 26 | — | $24.7M | ||
| Q4 25 | $55.8M | $74.0M | ||
| Q3 25 | $43.9M | $52.5M | ||
| Q2 25 | $34.6M | $69.6M | ||
| Q1 25 | $7.1M | $19.5M | ||
| Q4 24 | $76.6M | $65.3M | ||
| Q3 24 | $32.0M | $38.0M | ||
| Q2 24 | $38.8M | $57.9M |
自由现金流率CSGSMMSI
| Q1 26 | — | 6.5% | ||
| Q4 25 | 17.3% | 18.8% | ||
| Q3 25 | 14.5% | 13.7% | ||
| Q2 25 | 11.6% | 18.2% | ||
| Q1 25 | 2.4% | 5.5% | ||
| Q4 24 | 24.2% | 18.4% | ||
| Q3 24 | 10.8% | 11.2% | ||
| Q2 24 | 13.4% | 17.1% |
资本支出强度CSGSMMSI
| Q1 26 | — | 4.2% | ||
| Q4 25 | 1.1% | 6.2% | ||
| Q3 25 | 1.3% | 5.8% | ||
| Q2 25 | 0.9% | 3.6% | ||
| Q1 25 | 1.5% | 5.9% | ||
| Q4 24 | 1.9% | 1.0% | ||
| Q3 24 | 2.5% | 2.8% | ||
| Q2 24 | 1.5% | 3.1% |
现金转化率CSGSMMSI
| Q1 26 | — | — | ||
| Q4 25 | 8.46× | 2.59× | ||
| Q3 25 | 2.34× | 2.70× | ||
| Q2 25 | 3.04× | 2.56× | ||
| Q1 25 | 0.71× | 1.35× | ||
| Q4 24 | 2.39× | 2.46× | ||
| Q3 24 | 2.07× | 1.66× | ||
| Q2 24 | 3.12× | 1.92× |
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% |
MMSI
暂无分部数据
