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南玻集团（CSGS）与Natural Grocers by Vitamin Cottage, Inc.（NGVC）财务数据对比。点击上方公司名可切换其他公司
Natural Grocers by Vitamin Cottage, Inc.的季度营收约是南玻集团的1.0倍（$335.6M vs $323.1M），Natural Grocers by Vitamin Cottage, Inc.净利率更高（3.4% vs 2.2%，领先1.2%），南玻集团同比增速更快（2.0% vs 1.6%），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 4.4%）
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。
Natural Grocers by Vitamin Cottage, Inc.是美国本土的特色零售连锁企业，主营认证有机食品、膳食补充剂、天然个护及环保家居类产品，面向健康意识较强的消费群体，门店覆盖美国多州，执行严格品控标准，拒绝售卖含人工添加剂的商品。
CSGS vs NGVC — 直观对比
营收规模更大
NGVC
是对方的1.0倍
$323.1M
营收增速更快
CSGS
高出0.4%
1.6%
净利率更高
NGVC
高出1.2%
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
4.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $335.6M |
| 净利润 | $7.0M | $11.3M |
| 毛利率 | 50.0% | 29.5% |
| 营业利润率 | 9.0% | 4.4% |
| 净利率 | 2.2% | 3.4% |
| 营收同比 | 2.0% | 1.6% |
| 净利润同比 | -79.7% | 14.0% |
| 每股收益（稀释后） | $0.24 | $0.49 |
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CSGSNGVC
| Q4 25 | $323.1M | $335.6M | ||
| Q3 25 | $303.6M | $336.1M | ||
| Q2 25 | $297.1M | $328.7M | ||
| Q1 25 | $299.5M | $335.8M | ||
| Q4 24 | $316.7M | $330.2M | ||
| Q3 24 | $295.1M | $322.7M | ||
| Q2 24 | $290.3M | $309.1M | ||
| Q1 24 | $295.1M | $308.1M |
净利润CSGSNGVC
| Q4 25 | $7.0M | $11.3M | ||
| Q3 25 | $20.5M | $11.8M | ||
| Q2 25 | $12.3M | $11.6M | ||
| Q1 25 | $16.1M | $13.1M | ||
| Q4 24 | $34.5M | $9.9M | ||
| Q3 24 | $19.1M | $9.0M | ||
| Q2 24 | $13.8M | $9.2M | ||
| Q1 24 | $19.5M | $8.0M |
毛利率CSGSNGVC
| Q4 25 | 50.0% | 29.5% | ||
| Q3 25 | 48.1% | 29.5% | ||
| Q2 25 | 49.5% | 29.9% | ||
| Q1 25 | 48.4% | 30.3% | ||
| Q4 24 | 51.3% | 29.9% | ||
| Q3 24 | 49.4% | 29.6% | ||
| Q2 24 | 47.3% | 29.2% | ||
| Q1 24 | 46.5% | 29.3% |
营业利润率CSGSNGVC
| Q4 25 | 9.0% | 4.4% | ||
| Q3 25 | 10.0% | 4.6% | ||
| Q2 25 | 10.0% | 4.7% | ||
| Q1 25 | 9.8% | 5.2% | ||
| Q4 24 | 13.4% | 4.0% | ||
| Q3 24 | 10.8% | 3.7% | ||
| Q2 24 | 8.8% | 4.2% | ||
| Q1 24 | 10.8% | 3.7% |
净利率CSGSNGVC
| Q4 25 | 2.2% | 3.4% | ||
| Q3 25 | 6.7% | 3.5% | ||
| Q2 25 | 4.1% | 3.5% | ||
| Q1 25 | 5.4% | 3.9% | ||
| Q4 24 | 10.9% | 3.0% | ||
| Q3 24 | 6.5% | 2.8% | ||
| Q2 24 | 4.8% | 3.0% | ||
| Q1 24 | 6.6% | 2.6% |
每股收益（稀释后）CSGSNGVC
| Q4 25 | $0.24 | $0.49 | ||
| Q3 25 | $0.73 | $0.51 | ||
| Q2 25 | $0.44 | $0.50 | ||
| Q1 25 | $0.57 | $0.56 | ||
| Q4 24 | $1.20 | $0.43 | ||
| Q3 24 | $0.67 | $0.38 | ||
| Q2 24 | $0.48 | $0.40 | ||
| Q1 24 | $0.68 | $0.35 |
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 | $23.2M |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $220.0M |
| 总资产 | $1.5B | $668.6M |
| 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CSGSNGVC
| Q4 25 | $180.0M | $23.2M | ||
| Q3 25 | $158.4M | $17.1M | ||
| Q2 25 | $145.9M | $13.2M | ||
| Q1 25 | $136.0M | $21.2M | ||
| Q4 24 | $161.8M | $6.3M | ||
| Q3 24 | $118.4M | $8.9M | ||
| Q2 24 | $110.4M | $13.9M | ||
| Q1 24 | $120.8M | $11.0M |
总债务CSGSNGVC
| 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CSGSNGVC
| Q4 25 | $283.7M | $220.0M | ||
| Q3 25 | $289.5M | $212.4M | ||
| Q2 25 | $290.7M | $202.5M | ||
| Q1 25 | $283.1M | $193.0M | ||
| Q4 24 | $282.6M | $181.9M | ||
| Q3 24 | $288.4M | $174.3M | ||
| Q2 24 | $273.3M | $167.8M | ||
| Q1 24 | $269.3M | $160.0M |
总资产CSGSNGVC
| Q4 25 | $1.5B | $668.6M | ||
| Q3 25 | $1.5B | $670.5M | ||
| Q2 25 | $1.4B | $659.0M | ||
| Q1 25 | $1.4B | $664.6M | ||
| Q4 24 | $1.5B | $648.9M | ||
| Q3 24 | $1.4B | $655.5M | ||
| Q2 24 | $1.4B | $654.4M | ||
| Q1 24 | $1.3B | $656.6M |
负债/权益比CSGSNGVC
| 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 | $21.1M |
| 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% | 3.4% |
| 资本支出强度资本支出/营收 | 1.1% | 2.9% |
| 现金转化率经营现金流/净利润 | 8.46× | 1.86× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $42.6M |
8季度趋势，按日历期对齐
经营现金流CSGSNGVC
| Q4 25 | $59.2M | $21.1M | ||
| Q3 25 | $47.9M | $15.6M | ||
| Q2 25 | $37.3M | $2.9M | ||
| Q1 25 | $11.5M | $34.1M | ||
| Q4 24 | $82.5M | $2.7M | ||
| Q3 24 | $39.5M | $24.5M | ||
| Q2 24 | $43.1M | $12.4M | ||
| Q1 24 | $-29.4M | $20.2M |
自由现金流CSGSNGVC
| Q4 25 | $55.8M | $11.6M | ||
| Q3 25 | $43.9M | $7.5M | ||
| Q2 25 | $34.6M | $-4.2M | ||
| Q1 25 | $7.1M | $27.6M | ||
| Q4 24 | $76.6M | $-6.9M | ||
| Q3 24 | $32.0M | $18.0M | ||
| Q2 24 | $38.8M | $3.6M | ||
| Q1 24 | $-34.1M | $9.8M |
自由现金流率CSGSNGVC
| Q4 25 | 17.3% | 3.4% | ||
| Q3 25 | 14.5% | 2.2% | ||
| Q2 25 | 11.6% | -1.3% | ||
| Q1 25 | 2.4% | 8.2% | ||
| Q4 24 | 24.2% | -2.1% | ||
| Q3 24 | 10.8% | 5.6% | ||
| Q2 24 | 13.4% | 1.2% | ||
| Q1 24 | -11.6% | 3.2% |
资本支出强度CSGSNGVC
| Q4 25 | 1.1% | 2.9% | ||
| Q3 25 | 1.3% | 2.4% | ||
| Q2 25 | 0.9% | 2.2% | ||
| Q1 25 | 1.5% | 1.9% | ||
| Q4 24 | 1.9% | 2.9% | ||
| Q3 24 | 2.5% | 2.0% | ||
| Q2 24 | 1.5% | 2.9% | ||
| Q1 24 | 1.6% | 3.4% |
现金转化率CSGSNGVC
| Q4 25 | 8.46× | 1.86× | ||
| Q3 25 | 2.34× | 1.32× | ||
| Q2 25 | 3.04× | 0.25× | ||
| Q1 25 | 0.71× | 2.60× | ||
| Q4 24 | 2.39× | 0.27× | ||
| Q3 24 | 2.07× | 2.72× | ||
| Q2 24 | 3.12× | 1.35× | ||
| Q1 24 | -1.51× | 2.54× |
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% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
