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南玻集团（CSGS）与摩凡陀集团（MOV）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摩凡陀集团的1.7倍（$323.1M vs $186.1M），摩凡陀集团净利率更高（5.1% vs 2.2%，领先3.0%），南玻集团同比增速更快（2.0% vs 1.9%），南玻集团自由现金流更多（$55.8M vs $11.6M），过去两年南玻集团的营收复合增速更高（4.6% vs 2.9%）
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。
摩凡陀集团是源自瑞士的美国奢侈钟表品牌，创始于1881年，品牌名取自世界语，原意为“律动”。摩凡陀腕表以12点钟位置标志性的金属圆点设计与极简风格著称，其中博物馆腕表更是品牌最广为人知的经典代表作。
CSGS vs MOV — 直观对比
营收规模更大
CSGS
是对方的1.7倍
$186.1M
营收增速更快
CSGS
高出0.2%
1.9%
净利率更高
MOV
高出3.0%
2.2%
自由现金流更多
CSGS
多$44.2M
$11.6M
两年增速更快
CSGS
近两年复合增速
2.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $186.1M |
| 净利润 | $7.0M | $9.6M |
| 毛利率 | 50.0% | 54.3% |
| 营业利润率 | 9.0% | 6.3% |
| 净利率 | 2.2% | 5.1% |
| 营收同比 | 2.0% | 1.9% |
| 净利润同比 | -79.7% | 89.8% |
| 每股收益（稀释后） | $0.24 | $0.42 |
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CSGSMOV
| Q4 25 | $323.1M | $186.1M | ||
| Q3 25 | $303.6M | $161.8M | ||
| Q2 25 | $297.1M | $131.8M | ||
| Q1 25 | $299.5M | $181.5M | ||
| Q4 24 | $316.7M | $180.5M | ||
| Q3 24 | $295.1M | $157.0M | ||
| Q2 24 | $290.3M | $134.4M | ||
| Q1 24 | $295.1M | $175.8M |
净利润CSGSMOV
| Q4 25 | $7.0M | $9.6M | ||
| Q3 25 | $20.5M | $3.0M | ||
| Q2 25 | $12.3M | $1.4M | ||
| Q1 25 | $16.1M | $8.1M | ||
| Q4 24 | $34.5M | $4.8M | ||
| Q3 24 | $19.1M | $3.5M | ||
| Q2 24 | $13.8M | $2.0M | ||
| Q1 24 | $19.5M | $9.8M |
毛利率CSGSMOV
| Q4 25 | 50.0% | 54.3% | ||
| Q3 25 | 48.1% | 54.1% | ||
| Q2 25 | 49.5% | 54.1% | ||
| Q1 25 | 48.4% | 54.2% | ||
| Q4 24 | 51.3% | 53.5% | ||
| Q3 24 | 49.4% | 54.3% | ||
| Q2 24 | 47.3% | 54.3% | ||
| Q1 24 | 46.5% | 53.5% |
营业利润率CSGSMOV
| Q4 25 | 9.0% | 6.3% | ||
| Q3 25 | 10.0% | 2.5% | ||
| Q2 25 | 10.0% | 0.2% | ||
| Q1 25 | 9.8% | 5.1% | ||
| Q4 24 | 13.4% | 3.3% | ||
| Q3 24 | 10.8% | 1.7% | ||
| Q2 24 | 8.8% | 1.6% | ||
| Q1 24 | 10.8% | 6.1% |
净利率CSGSMOV
| Q4 25 | 2.2% | 5.1% | ||
| Q3 25 | 6.7% | 1.8% | ||
| Q2 25 | 4.1% | 1.1% | ||
| Q1 25 | 5.4% | 4.4% | ||
| Q4 24 | 10.9% | 2.7% | ||
| Q3 24 | 6.5% | 2.2% | ||
| Q2 24 | 4.8% | 1.5% | ||
| Q1 24 | 6.6% | 5.6% |
每股收益（稀释后）CSGSMOV
| Q4 25 | $0.24 | $0.42 | ||
| Q3 25 | $0.73 | $0.13 | ||
| Q2 25 | $0.44 | $0.06 | ||
| Q1 25 | $0.57 | $0.36 | ||
| Q4 24 | $1.20 | $0.21 | ||
| Q3 24 | $0.67 | $0.15 | ||
| Q2 24 | $0.48 | $0.09 | ||
| Q1 24 | $0.68 | $0.44 |
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 | $183.9M |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $497.5M |
| 总资产 | $1.5B | $751.9M |
| 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CSGSMOV
| Q4 25 | $180.0M | $183.9M | ||
| Q3 25 | $158.4M | $180.5M | ||
| Q2 25 | $145.9M | $203.1M | ||
| Q1 25 | $136.0M | $208.5M | ||
| Q4 24 | $161.8M | $181.5M | ||
| Q3 24 | $118.4M | $198.3M | ||
| Q2 24 | $110.4M | $225.4M | ||
| Q1 24 | $120.8M | $262.1M |
总债务CSGSMOV
| Q4 25 | $539.5M | — | ||
| Q3 25 | $538.6M | — | ||
| Q2 25 | $537.8M | — | ||
| Q1 25 | $537.6M | — | ||
| Q4 24 | $538.5M | — | ||
| Q3 24 | $539.5M | — | ||
| Q2 24 | $540.5M | — | ||
| Q1 24 | $541.5M | — |
股东权益CSGSMOV
| Q4 25 | $283.7M | $497.5M | ||
| Q3 25 | $289.5M | $489.9M | ||
| Q2 25 | $290.7M | $493.2M | ||
| Q1 25 | $283.1M | $481.3M | ||
| Q4 24 | $282.6M | $491.3M | ||
| Q3 24 | $288.4M | $492.0M | ||
| Q2 24 | $273.3M | $489.6M | ||
| Q1 24 | $269.3M | $505.9M |
总资产CSGSMOV
| Q4 25 | $1.5B | $751.9M | ||
| Q3 25 | $1.5B | $748.7M | ||
| Q2 25 | $1.4B | $747.2M | ||
| Q1 25 | $1.4B | $729.2M | ||
| Q4 24 | $1.5B | $747.2M | ||
| Q3 24 | $1.4B | $742.5M | ||
| Q2 24 | $1.4B | $736.0M | ||
| Q1 24 | $1.3B | $756.5M |
负债/权益比CSGSMOV
| Q4 25 | 1.90× | — | ||
| Q3 25 | 1.86× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 1.91× | — | ||
| Q3 24 | 1.87× | — | ||
| Q2 24 | 1.98× | — | ||
| Q1 24 | 2.01× | — |
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 | $12.3M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $11.6M |
| 自由现金流率自由现金流/营收 | 17.3% | 6.2% |
| 资本支出强度资本支出/营收 | 1.1% | 0.4% |
| 现金转化率经营现金流/净利润 | 8.46× | 1.28× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $35.3M |
8季度趋势，按日历期对齐
经营现金流CSGSMOV
| Q4 25 | $59.2M | $12.3M | ||
| Q3 25 | $47.9M | $-3.8M | ||
| Q2 25 | $37.3M | $-7.2M | ||
| Q1 25 | $11.5M | $39.1M | ||
| Q4 24 | $82.5M | $-4.7M | ||
| Q3 24 | $39.5M | $-17.8M | ||
| Q2 24 | $43.1M | $-18.1M | ||
| Q1 24 | $-29.4M | $69.4M |
自由现金流CSGSMOV
| Q4 25 | $55.8M | $11.6M | ||
| Q3 25 | $43.9M | $-5.1M | ||
| Q2 25 | $34.6M | $-8.7M | ||
| Q1 25 | $7.1M | $37.5M | ||
| Q4 24 | $76.6M | $-7.2M | ||
| Q3 24 | $32.0M | $-20.1M | ||
| Q2 24 | $38.8M | $-19.7M | ||
| Q1 24 | $-34.1M | $67.8M |
自由现金流率CSGSMOV
| Q4 25 | 17.3% | 6.2% | ||
| Q3 25 | 14.5% | -3.1% | ||
| Q2 25 | 11.6% | -6.6% | ||
| Q1 25 | 2.4% | 20.7% | ||
| Q4 24 | 24.2% | -4.0% | ||
| Q3 24 | 10.8% | -12.8% | ||
| Q2 24 | 13.4% | -14.7% | ||
| Q1 24 | -11.6% | 38.6% |
资本支出强度CSGSMOV
| Q4 25 | 1.1% | 0.4% | ||
| Q3 25 | 1.3% | 0.8% | ||
| Q2 25 | 0.9% | 1.2% | ||
| Q1 25 | 1.5% | 0.9% | ||
| Q4 24 | 1.9% | 1.4% | ||
| Q3 24 | 2.5% | 1.5% | ||
| Q2 24 | 1.5% | 1.2% | ||
| Q1 24 | 1.6% | 0.9% |
现金转化率CSGSMOV
| Q4 25 | 8.46× | 1.28× | ||
| Q3 25 | 2.34× | -1.27× | ||
| Q2 25 | 3.04× | -5.08× | ||
| Q1 25 | 0.71× | 4.86× | ||
| Q4 24 | 2.39× | -0.98× | ||
| Q3 24 | 2.07× | -5.14× | ||
| Q2 24 | 3.12× | -8.97× | ||
| Q1 24 | -1.51× | 7.06× |
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% |
MOV
| Other | $81.4M | 44% |
| Owned Brands Category | $46.0M | 25% |
| Sales Channel Directly To Consumer | $35.3M | 19% |
| Company Stores | $23.4M | 13% |
