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南玻集团（CSGS）与Ingevity Corp（NGVT）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Ingevity Corp的1.7倍（$323.1M vs $185.4M），南玻集团净利率更高（2.2% vs -45.6%，领先47.8%），Ingevity Corp同比增速更快（36.7% vs 2.0%），Ingevity Corp自由现金流更多（$73.5M vs $55.8M），过去两年南玻集团的营收复合增速更高（4.6% vs -26.2%）
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。
Ingevity Corp是一家全球特种化学品与先进材料生产商，主营高性能碳材料、路面养护解决方案及特种化工产品，服务汽车排放控制、工业净化、道路基建、农业投入品等核心市场，业务覆盖北美、欧洲及亚太地区。
CSGS vs NGVT — 直观对比
营收规模更大
CSGS
是对方的1.7倍
$185.4M
营收增速更快
NGVT
高出34.7%
2.0%
净利率更高
CSGS
高出47.8%
-45.6%
自由现金流更多
NGVT
多$17.7M
$55.8M
两年增速更快
CSGS
近两年复合增速
-26.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $185.4M |
| 净利润 | $7.0M | $-84.6M |
| 毛利率 | 50.0% | 41.2% |
| 营业利润率 | 9.0% | -47.7% |
| 净利率 | 2.2% | -45.6% |
| 营收同比 | 2.0% | 36.7% |
| 净利润同比 | -79.7% | -609.6% |
| 每股收益（稀释后） | $0.24 | $-2.33 |
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CSGSNGVT
| Q4 25 | $323.1M | $185.4M | ||
| Q3 25 | $303.6M | $333.1M | ||
| Q2 25 | $297.1M | $365.1M | ||
| Q1 25 | $299.5M | $284.0M | ||
| Q4 24 | $316.7M | $135.6M | ||
| Q3 24 | $295.1M | $333.8M | ||
| Q2 24 | $290.3M | $390.6M | ||
| Q1 24 | $295.1M | $340.1M |
净利润CSGSNGVT
| Q4 25 | $7.0M | $-84.6M | ||
| Q3 25 | $20.5M | $43.5M | ||
| Q2 25 | $12.3M | $-146.5M | ||
| Q1 25 | $16.1M | $20.5M | ||
| Q4 24 | $34.5M | $16.6M | ||
| Q3 24 | $19.1M | $-107.2M | ||
| Q2 24 | $13.8M | $-283.7M | ||
| Q1 24 | $19.5M | $-56.0M |
毛利率CSGSNGVT
| Q4 25 | 50.0% | 41.2% | ||
| Q3 25 | 48.1% | 40.2% | ||
| Q2 25 | 49.5% | 37.8% | ||
| Q1 25 | 48.4% | 39.9% | ||
| Q4 24 | 51.3% | 81.3% | ||
| Q3 24 | 49.4% | 39.4% | ||
| Q2 24 | 47.3% | 31.5% | ||
| Q1 24 | 46.5% | 29.3% |
营业利润率CSGSNGVT
| Q4 25 | 9.0% | -47.7% | ||
| Q3 25 | 10.0% | 18.7% | ||
| Q2 25 | 10.0% | -39.1% | ||
| Q1 25 | 9.8% | 9.4% | ||
| Q4 24 | 13.4% | — | ||
| Q3 24 | 10.8% | 33.0% | ||
| Q2 24 | 8.8% | 25.9% | ||
| Q1 24 | 10.8% | 22.6% |
净利率CSGSNGVT
| Q4 25 | 2.2% | -45.6% | ||
| Q3 25 | 6.7% | 13.1% | ||
| Q2 25 | 4.1% | -40.1% | ||
| Q1 25 | 5.4% | 7.2% | ||
| Q4 24 | 10.9% | 12.2% | ||
| Q3 24 | 6.5% | -32.1% | ||
| Q2 24 | 4.8% | -72.6% | ||
| Q1 24 | 6.6% | -16.5% |
每股收益（稀释后）CSGSNGVT
| Q4 25 | $0.24 | $-2.33 | ||
| Q3 25 | $0.73 | $1.18 | ||
| Q2 25 | $0.44 | $-4.02 | ||
| Q1 25 | $0.57 | $0.56 | ||
| Q4 24 | $1.20 | $0.44 | ||
| Q3 24 | $0.67 | $-2.94 | ||
| Q2 24 | $0.48 | $-7.81 | ||
| Q1 24 | $0.68 | $-1.54 |
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 | $78.1M |
| 总债务越低越好 | $539.5M | $1.2B |
| 股东权益账面价值 | $283.7M | $29.7M |
| 总资产 | $1.5B | $1.7B |
| 负债/权益比越低杠杆越低 | 1.90× | 39.10× |
8季度趋势，按日历期对齐
现金及短期投资CSGSNGVT
| Q4 25 | $180.0M | $78.1M | ||
| Q3 25 | $158.4M | $83.4M | ||
| Q2 25 | $145.9M | $76.9M | ||
| Q1 25 | $136.0M | $71.5M | ||
| Q4 24 | $161.8M | $68.0M | ||
| Q3 24 | $118.4M | $135.5M | ||
| Q2 24 | $110.4M | $107.4M | ||
| Q1 24 | $120.8M | $88.5M |
总债务CSGSNGVT
| Q4 25 | $539.5M | $1.2B | ||
| Q3 25 | $538.6M | $1.2B | ||
| Q2 25 | $537.8M | $1.2B | ||
| Q1 25 | $537.6M | $1.3B | ||
| Q4 24 | $538.5M | $1.3B | ||
| Q3 24 | $539.5M | $1.4B | ||
| Q2 24 | $540.5M | $1.4B | ||
| Q1 24 | $541.5M | $1.4B |
股东权益CSGSNGVT
| Q4 25 | $283.7M | $29.7M | ||
| Q3 25 | $289.5M | $138.1M | ||
| Q2 25 | $290.7M | $120.7M | ||
| Q1 25 | $283.1M | $234.6M | ||
| Q4 24 | $282.6M | $195.2M | ||
| Q3 24 | $288.4M | $214.5M | ||
| Q2 24 | $273.3M | $284.8M | ||
| Q1 24 | $269.3M | $568.2M |
总资产CSGSNGVT
| Q4 25 | $1.5B | $1.7B | ||
| Q3 25 | $1.5B | $1.8B | ||
| Q2 25 | $1.4B | $1.9B | ||
| Q1 25 | $1.4B | $2.1B | ||
| Q4 24 | $1.5B | $2.0B | ||
| Q3 24 | $1.4B | $2.2B | ||
| Q2 24 | $1.4B | $2.3B | ||
| Q1 24 | $1.3B | $2.6B |
负债/权益比CSGSNGVT
| Q4 25 | 1.90× | 39.10× | ||
| Q3 25 | 1.86× | 8.39× | ||
| Q2 25 | 1.85× | 10.24× | ||
| Q1 25 | 1.90× | 5.68× | ||
| Q4 24 | 1.91× | 6.86× | ||
| Q3 24 | 1.87× | 6.52× | ||
| Q2 24 | 1.98× | 4.92× | ||
| Q1 24 | 2.01× | 2.48× |
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 | $97.1M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $73.5M |
| 自由现金流率自由现金流/营收 | 17.3% | 39.6% |
| 资本支出强度资本支出/营收 | 1.1% | 12.7% |
| 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 | $273.5M |
8季度趋势，按日历期对齐
经营现金流CSGSNGVT
| Q4 25 | $59.2M | $97.1M | ||
| Q3 25 | $47.9M | $129.7M | ||
| Q2 25 | $37.3M | $79.0M | ||
| Q1 25 | $11.5M | $25.4M | ||
| Q4 24 | $82.5M | $64.5M | ||
| Q3 24 | $39.5M | $46.5M | ||
| Q2 24 | $43.1M | $29.7M | ||
| Q1 24 | $-29.4M | $-12.1M |
自由现金流CSGSNGVT
| Q4 25 | $55.8M | $73.5M | ||
| Q3 25 | $43.9M | $117.8M | ||
| Q2 25 | $34.6M | $66.8M | ||
| Q1 25 | $7.1M | $15.4M | ||
| Q4 24 | $76.6M | $39.6M | ||
| Q3 24 | $32.0M | $28.5M | ||
| Q2 24 | $38.8M | $11.6M | ||
| Q1 24 | $-34.1M | $-28.7M |
自由现金流率CSGSNGVT
| Q4 25 | 17.3% | 39.6% | ||
| Q3 25 | 14.5% | 35.4% | ||
| Q2 25 | 11.6% | 18.3% | ||
| Q1 25 | 2.4% | 5.4% | ||
| Q4 24 | 24.2% | 29.2% | ||
| Q3 24 | 10.8% | 8.5% | ||
| Q2 24 | 13.4% | 3.0% | ||
| Q1 24 | -11.6% | -8.4% |
资本支出强度CSGSNGVT
| Q4 25 | 1.1% | 12.7% | ||
| Q3 25 | 1.3% | 3.6% | ||
| Q2 25 | 0.9% | 3.3% | ||
| Q1 25 | 1.5% | 3.5% | ||
| Q4 24 | 1.9% | 18.4% | ||
| Q3 24 | 2.5% | 5.4% | ||
| Q2 24 | 1.5% | 4.6% | ||
| Q1 24 | 1.6% | 4.9% |
现金转化率CSGSNGVT
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | 2.98× | ||
| Q2 25 | 3.04× | — | ||
| Q1 25 | 0.71× | 1.24× | ||
| Q4 24 | 2.39× | 3.89× | ||
| Q3 24 | 2.07× | — | ||
| 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% |
NGVT
| Performance Materials | $151.2M | 82% |
| Advanced Polymer Technologies Segment | $36.5M | 20% |
