vs
南玻集团（CSGS）与OPPENHEIMER HOLDINGS INC（OPY）财务数据对比。点击上方公司名可切换其他公司
OPPENHEIMER HOLDINGS INC的季度营收约是南玻集团的1.5倍（$472.6M vs $323.1M），OPPENHEIMER HOLDINGS INC净利率更高（15.7% vs 2.2%，领先13.6%），OPPENHEIMER HOLDINGS INC同比增速更快（25.9% vs 2.0%），OPPENHEIMER HOLDINGS INC自由现金流更多（$183.6M vs $55.8M），过去两年OPPENHEIMER HOLDINGS INC的营收复合增速更高（15.7% 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。
奥本海默控股是一家美国跨国独立投资银行与金融服务企业，面向全球客户提供投资银行、财务咨询、资本市场、资产管理及财富管理等相关产品与服务，目前总部设于纽约市宽街85号。
CSGS vs OPY — 直观对比
营收规模更大
OPY
是对方的1.5倍
$323.1M
营收增速更快
OPY
高出23.9%
2.0%
净利率更高
OPY
高出13.6%
2.2%
自由现金流更多
OPY
多$127.8M
$55.8M
两年增速更快
OPY
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $472.6M |
| 净利润 | $7.0M | $74.4M |
| 毛利率 | 50.0% | — |
| 营业利润率 | 9.0% | 22.4% |
| 净利率 | 2.2% | 15.7% |
| 营收同比 | 2.0% | 25.9% |
| 净利润同比 | -79.7% | 593.1% |
| 每股收益（稀释后） | $0.24 | $6.51 |
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CSGSOPY
| Q4 25 | $323.1M | $472.6M | ||
| Q3 25 | $303.6M | $424.4M | ||
| Q2 25 | $297.1M | $373.2M | ||
| Q1 25 | $299.5M | $367.8M | ||
| Q4 24 | $316.7M | $375.4M | ||
| Q3 24 | $295.1M | $373.4M | ||
| Q2 24 | $290.3M | $330.6M | ||
| Q1 24 | $295.1M | $353.1M |
净利润CSGSOPY
| Q4 25 | $7.0M | $74.4M | ||
| Q3 25 | $20.5M | $21.7M | ||
| Q2 25 | $12.3M | $21.7M | ||
| Q1 25 | $16.1M | $30.7M | ||
| Q4 24 | $34.5M | $10.7M | ||
| Q3 24 | $19.1M | $24.5M | ||
| Q2 24 | $13.8M | $10.3M | ||
| Q1 24 | $19.5M | $26.1M |
毛利率CSGSOPY
| 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CSGSOPY
| Q4 25 | 9.0% | 22.4% | ||
| Q3 25 | 10.0% | 7.5% | ||
| Q2 25 | 10.0% | 8.6% | ||
| Q1 25 | 9.8% | 11.2% | ||
| Q4 24 | 13.4% | 4.5% | ||
| Q3 24 | 10.8% | 9.5% | ||
| Q2 24 | 8.8% | 4.8% | ||
| Q1 24 | 10.8% | 10.6% |
净利率CSGSOPY
| Q4 25 | 2.2% | 15.7% | ||
| Q3 25 | 6.7% | 5.1% | ||
| Q2 25 | 4.1% | 5.8% | ||
| Q1 25 | 5.4% | 8.3% | ||
| Q4 24 | 10.9% | 2.9% | ||
| Q3 24 | 6.5% | 6.6% | ||
| Q2 24 | 4.8% | 3.1% | ||
| Q1 24 | 6.6% | 7.4% |
每股收益（稀释后）CSGSOPY
| Q4 25 | $0.24 | $6.51 | ||
| Q3 25 | $0.73 | $1.90 | ||
| Q2 25 | $0.44 | $1.91 | ||
| Q1 25 | $0.57 | $2.72 | ||
| Q4 24 | $1.20 | $0.92 | ||
| Q3 24 | $0.67 | $2.16 | ||
| Q2 24 | $0.48 | $0.92 | ||
| Q1 24 | $0.68 | $2.37 |
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 | $38.4M |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $983.8M |
| 总资产 | $1.5B | $3.7B |
| 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CSGSOPY
| Q4 25 | $180.0M | $38.4M | ||
| Q3 25 | $158.4M | $38.3M | ||
| Q2 25 | $145.9M | $37.6M | ||
| Q1 25 | $136.0M | $36.7M | ||
| Q4 24 | $161.8M | $33.1M | ||
| Q3 24 | $118.4M | $32.2M | ||
| Q2 24 | $110.4M | $33.2M | ||
| Q1 24 | $120.8M | $27.7M |
总债务CSGSOPY
| Q4 25 | $539.5M | — | ||
| Q3 25 | $538.6M | — | ||
| Q2 25 | $537.8M | — | ||
| Q1 25 | $537.6M | — | ||
| Q4 24 | $538.5M | $0 | ||
| Q3 24 | $539.5M | $112.8M | ||
| Q2 24 | $540.5M | $112.8M | ||
| Q1 24 | $541.5M | $112.7M |
股东权益CSGSOPY
| Q4 25 | $283.7M | $983.8M | ||
| Q3 25 | $289.5M | $920.3M | ||
| Q2 25 | $290.7M | $896.9M | ||
| Q1 25 | $283.1M | $872.3M | ||
| Q4 24 | $282.6M | $850.4M | ||
| Q3 24 | $288.4M | $837.8M | ||
| Q2 24 | $273.3M | $812.1M | ||
| Q1 24 | $269.3M | $801.5M |
总资产CSGSOPY
| Q4 25 | $1.5B | $3.7B | ||
| Q3 25 | $1.5B | $3.8B | ||
| Q2 25 | $1.4B | $3.7B | ||
| Q1 25 | $1.4B | $3.6B | ||
| Q4 24 | $1.5B | $3.4B | ||
| Q3 24 | $1.4B | $3.4B | ||
| Q2 24 | $1.4B | $3.3B | ||
| Q1 24 | $1.3B | $3.3B |
负债/权益比CSGSOPY
| Q4 25 | 1.90× | — | ||
| Q3 25 | 1.86× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 1.91× | 0.00× | ||
| Q3 24 | 1.87× | 0.13× | ||
| Q2 24 | 1.98× | 0.14× | ||
| Q1 24 | 2.01× | 0.14× |
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 | $188.8M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $183.6M |
| 自由现金流率自由现金流/营收 | 17.3% | 38.8% |
| 资本支出强度资本支出/营收 | 1.1% | 1.1% |
| 现金转化率经营现金流/净利润 | 8.46× | 2.54× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $191.3M |
8季度趋势，按日历期对齐
经营现金流CSGSOPY
| Q4 25 | $59.2M | $188.8M | ||
| Q3 25 | $47.9M | $63.4M | ||
| Q2 25 | $37.3M | $40.1M | ||
| Q1 25 | $11.5M | $-91.7M | ||
| Q4 24 | $82.5M | $-108.2M | ||
| Q3 24 | $39.5M | $11.4M | ||
| Q2 24 | $43.1M | $-115.3M | ||
| Q1 24 | $-29.4M | $-79.0M |
自由现金流CSGSOPY
| Q4 25 | $55.8M | $183.6M | ||
| Q3 25 | $43.9M | $62.2M | ||
| Q2 25 | $34.6M | $38.9M | ||
| Q1 25 | $7.1M | $-93.4M | ||
| Q4 24 | $76.6M | $-113.3M | ||
| Q3 24 | $32.0M | $11.2M | ||
| Q2 24 | $38.8M | $-116.7M | ||
| Q1 24 | $-34.1M | $-79.3M |
自由现金流率CSGSOPY
| Q4 25 | 17.3% | 38.8% | ||
| Q3 25 | 14.5% | 14.7% | ||
| Q2 25 | 11.6% | 10.4% | ||
| Q1 25 | 2.4% | -25.4% | ||
| Q4 24 | 24.2% | -30.2% | ||
| Q3 24 | 10.8% | 3.0% | ||
| Q2 24 | 13.4% | -35.3% | ||
| Q1 24 | -11.6% | -22.5% |
资本支出强度CSGSOPY
| Q4 25 | 1.1% | 1.1% | ||
| Q3 25 | 1.3% | 0.3% | ||
| Q2 25 | 0.9% | 0.3% | ||
| Q1 25 | 1.5% | 0.5% | ||
| Q4 24 | 1.9% | 1.4% | ||
| Q3 24 | 2.5% | 0.1% | ||
| Q2 24 | 1.5% | 0.4% | ||
| Q1 24 | 1.6% | 0.1% |
现金转化率CSGSOPY
| Q4 25 | 8.46× | 2.54× | ||
| Q3 25 | 2.34× | 2.92× | ||
| Q2 25 | 3.04× | 1.85× | ||
| Q1 25 | 0.71× | -2.99× | ||
| Q4 24 | 2.39× | -10.08× | ||
| Q3 24 | 2.07× | 0.47× | ||
| Q2 24 | 3.12× | -11.23× | ||
| Q1 24 | -1.51× | -3.03× |
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% |
OPY
| Advisory Fees | $166.6M | 35% |
| Capital Markets Segment | $155.5M | 33% |
| Other | $57.2M | 12% |
| Commissions From Sales And Trading | $52.9M | 11% |
| Bank Deposit Sweep Income | $27.7M | 6% |
| Mutual Fund Income | $8.9M | 2% |
| Investment Banking Capital Markets | $3.3M | 1% |
