vs
南玻集团（CSGS）与D-Wave Quantum Inc.（QBTS）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D-Wave Quantum Inc.的117.4倍（$323.1M vs $2.8M）。南玻集团净利率更高（2.2% vs -1538.0%，领先1540.2%）。D-Wave Quantum Inc.同比增速更快（19.2% vs 2.0%）。南玻集团自由现金流更多（$55.8M vs $-20.0M）。过去两年D-Wave Quantum Inc.的营收复合增速更高（5.7% 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。
D-Wave量子公司是专注量子计算领域的科技企业，在美国加利福尼亚州帕洛阿尔托、加拿大不列颠哥伦比亚省本拿比均设有办公点。该公司自称是全球首家销售基于量子效应运行的计算机的企业，客户包括洛克希德·马丁、南加州大学、谷歌与NASA联合项目、洛斯阿拉莫斯国家实验室等。
CSGS vs QBTS — 直观对比
营收规模更大
CSGS
是对方的117.4倍
$2.8M
营收增速更快
QBTS
高出17.2%
2.0%
净利率更高
CSGS
高出1540.2%
-1538.0%
自由现金流更多
CSGS
多$75.8M
$-20.0M
两年增速更快
QBTS
近两年复合增速
4.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $2.8M |
| 净利润 | $7.0M | $-42.3M |
| 毛利率 | 50.0% | 64.8% |
| 营业利润率 | 9.0% | -1266.0% |
| 净利率 | 2.2% | -1538.0% |
| 营收同比 | 2.0% | 19.2% |
| 净利润同比 | -79.7% | 50.8% |
| 每股收益（稀释后） | $0.24 | $-0.13 |
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CSGSQBTS
| Q4 25 | $323.1M | $2.8M | ||
| Q3 25 | $303.6M | $3.7M | ||
| Q2 25 | $297.1M | $3.1M | ||
| Q1 25 | $299.5M | $15.0M | ||
| Q4 24 | $316.7M | $2.3M | ||
| Q3 24 | $295.1M | $1.9M | ||
| Q2 24 | $290.3M | $2.2M | ||
| Q1 24 | $295.1M | $2.5M |
净利润CSGSQBTS
| Q4 25 | $7.0M | $-42.3M | ||
| Q3 25 | $20.5M | $-140.0M | ||
| Q2 25 | $12.3M | $-167.3M | ||
| Q1 25 | $16.1M | $-5.4M | ||
| Q4 24 | $34.5M | $-86.1M | ||
| Q3 24 | $19.1M | $-22.7M | ||
| Q2 24 | $13.8M | $-17.8M | ||
| Q1 24 | $19.5M | $-17.3M |
毛利率CSGSQBTS
| Q4 25 | 50.0% | 64.8% | ||
| Q3 25 | 48.1% | 71.4% | ||
| Q2 25 | 49.5% | 63.8% | ||
| Q1 25 | 48.4% | 92.5% | ||
| Q4 24 | 51.3% | 63.8% | ||
| Q3 24 | 49.4% | 55.8% | ||
| Q2 24 | 47.3% | 63.6% | ||
| Q1 24 | 46.5% | 67.3% |
营业利润率CSGSQBTS
| Q4 25 | 9.0% | -1266.0% | ||
| Q3 25 | 10.0% | -741.8% | ||
| Q2 25 | 10.0% | -856.3% | ||
| Q1 25 | 9.8% | -75.3% | ||
| Q4 24 | 13.4% | -876.2% | ||
| Q3 24 | 10.8% | -1103.5% | ||
| Q2 24 | 8.8% | -863.0% | ||
| Q1 24 | 10.8% | -710.6% |
净利率CSGSQBTS
| Q4 25 | 2.2% | -1538.0% | ||
| Q3 25 | 6.7% | -3743.9% | ||
| Q2 25 | 4.1% | -5406.4% | ||
| Q1 25 | 5.4% | -36.1% | ||
| Q4 24 | 10.9% | -3727.9% | ||
| Q3 24 | 6.5% | -1214.5% | ||
| Q2 24 | 4.8% | -814.4% | ||
| Q1 24 | 6.6% | -702.3% |
每股收益（稀释后）CSGSQBTS
| Q4 25 | $0.24 | $-0.13 | ||
| Q3 25 | $0.73 | $-0.41 | ||
| Q2 25 | $0.44 | $-0.55 | ||
| Q1 25 | $0.57 | $-0.02 | ||
| Q4 24 | $1.20 | $-0.43 | ||
| Q3 24 | $0.67 | $-0.11 | ||
| Q2 24 | $0.48 | $-0.10 | ||
| Q1 24 | $0.68 | $-0.11 |
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 | $884.5M |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $852.2M |
| 总资产 | $1.5B | $915.8M |
| 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CSGSQBTS
| Q4 25 | $180.0M | $884.5M | ||
| Q3 25 | $158.4M | $836.2M | ||
| Q2 25 | $145.9M | $819.3M | ||
| Q1 25 | $136.0M | $304.3M | ||
| Q4 24 | $161.8M | $178.0M | ||
| Q3 24 | $118.4M | — | ||
| Q2 24 | $110.4M | — | ||
| Q1 24 | $120.8M | — |
总债务CSGSQBTS
| 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CSGSQBTS
| Q4 25 | $283.7M | $852.2M | ||
| Q3 25 | $289.5M | $670.6M | ||
| Q2 25 | $290.7M | $694.3M | ||
| Q1 25 | $283.1M | $207.4M | ||
| Q4 24 | $282.6M | $62.6M | ||
| Q3 24 | $288.4M | $-16.9M | ||
| Q2 24 | $273.3M | $-21.5M | ||
| Q1 24 | $269.3M | $-37.0M |
总资产CSGSQBTS
| Q4 25 | $1.5B | $915.8M | ||
| Q3 25 | $1.5B | $865.8M | ||
| Q2 25 | $1.4B | $843.6M | ||
| Q1 25 | $1.4B | $325.6M | ||
| Q4 24 | $1.5B | $199.9M | ||
| Q3 24 | $1.4B | $49.6M | ||
| Q2 24 | $1.4B | $61.8M | ||
| Q1 24 | $1.3B | $48.6M |
负债/权益比CSGSQBTS
| 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 | $-18.4M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $-20.0M |
| 自由现金流率自由现金流/营收 | 17.3% | -727.9% |
| 资本支出强度资本支出/营收 | 1.1% | 60.3% |
| 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 | $-75.8M |
8季度趋势，按日历期对齐
经营现金流CSGSQBTS
| Q4 25 | $59.2M | $-18.4M | ||
| Q3 25 | $47.9M | $-19.0M | ||
| Q2 25 | $37.3M | $-15.3M | ||
| Q1 25 | $11.5M | $-19.3M | ||
| Q4 24 | $82.5M | $2.0M | ||
| Q3 24 | $39.5M | $-18.1M | ||
| Q2 24 | $43.1M | $-14.5M | ||
| Q1 24 | $-29.4M | $-12.1M |
自由现金流CSGSQBTS
| Q4 25 | $55.8M | $-20.0M | ||
| Q3 25 | $43.9M | $-20.1M | ||
| Q2 25 | $34.6M | $-16.0M | ||
| Q1 25 | $7.1M | $-19.7M | ||
| Q4 24 | $76.6M | $1.1M | ||
| Q3 24 | $32.0M | $-18.4M | ||
| Q2 24 | $38.8M | $-15.0M | ||
| Q1 24 | $-34.1M | $-12.4M |
自由现金流率CSGSQBTS
| Q4 25 | 17.3% | -727.9% | ||
| Q3 25 | 14.5% | -536.5% | ||
| Q2 25 | 11.6% | -518.1% | ||
| Q1 25 | 2.4% | -131.4% | ||
| Q4 24 | 24.2% | 46.2% | ||
| Q3 24 | 10.8% | -982.8% | ||
| Q2 24 | 13.4% | -687.7% | ||
| Q1 24 | -11.6% | -504.0% |
资本支出强度CSGSQBTS
| Q4 25 | 1.1% | 60.3% | ||
| Q3 25 | 1.3% | 27.2% | ||
| Q2 25 | 0.9% | 24.2% | ||
| Q1 25 | 1.5% | 2.9% | ||
| Q4 24 | 1.9% | 41.1% | ||
| Q3 24 | 2.5% | 16.4% | ||
| Q2 24 | 1.5% | 25.0% | ||
| Q1 24 | 1.6% | 12.4% |
现金转化率CSGSQBTS
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | — | ||
| Q2 25 | 3.04× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 2.39× | — | ||
| 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% |
QBTS
暂无分部数据
