vs
南玻集团（CSGS）与ROYAL GOLD INC（RGLD）财务数据对比。点击上方公司名可切换其他公司
ROYAL GOLD INC的季度营收约是南玻集团的1.2倍（$375.3M vs $323.1M），ROYAL GOLD INC净利率更高（24.9% vs 2.2%，领先22.8%），ROYAL GOLD INC同比增速更快（85.3% vs 2.0%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% 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。
Royal Gold Inc.是全球领先的贵金属流权与特许权经营企业，收购并管理多元化的矿业项目流权、净熔炼收益特许权及相关权益，资产覆盖黄金、白银、铜等品类，业务遍及多地区，无需直接承担采矿运营风险。
CSGS vs RGLD — 直观对比
营收规模更大
RGLD
是对方的1.2倍
$323.1M
营收增速更快
RGLD
高出83.3%
2.0%
净利率更高
RGLD
高出22.8%
2.2%
两年增速更快
RGLD
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $375.3M |
| 净利润 | $7.0M | $93.6M |
| 毛利率 | 50.0% | 64.6% |
| 营业利润率 | 9.0% | 56.2% |
| 净利率 | 2.2% | 24.9% |
| 营收同比 | 2.0% | 85.3% |
| 净利润同比 | -79.7% | -12.8% |
| 每股收益（稀释后） | $0.24 | $1.04 |
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CSGSRGLD
| Q4 25 | $323.1M | $375.3M | ||
| Q3 25 | $303.6M | $252.1M | ||
| Q2 25 | $297.1M | $209.6M | ||
| Q1 25 | $299.5M | $193.4M | ||
| Q4 24 | $316.7M | $202.6M | ||
| Q3 24 | $295.1M | $193.8M | ||
| Q2 24 | $290.3M | $174.1M | ||
| Q1 24 | $295.1M | $148.9M |
净利润CSGSRGLD
| Q4 25 | $7.0M | $93.6M | ||
| Q3 25 | $20.5M | $126.8M | ||
| Q2 25 | $12.3M | $132.3M | ||
| Q1 25 | $16.1M | $113.5M | ||
| Q4 24 | $34.5M | $107.4M | ||
| Q3 24 | $19.1M | $96.2M | ||
| Q2 24 | $13.8M | $81.2M | ||
| Q1 24 | $19.5M | $47.2M |
毛利率CSGSRGLD
| Q4 25 | 50.0% | 64.6% | ||
| Q3 25 | 48.1% | 73.6% | ||
| Q2 25 | 49.5% | 72.6% | ||
| Q1 25 | 48.4% | 69.4% | ||
| Q4 24 | 51.3% | 70.3% | ||
| Q3 24 | 49.4% | 66.6% | ||
| Q2 24 | 47.3% | 64.7% | ||
| Q1 24 | 46.5% | 58.4% |
营业利润率CSGSRGLD
| Q4 25 | 9.0% | 56.2% | ||
| Q3 25 | 10.0% | 64.4% | ||
| Q2 25 | 10.0% | 67.7% | ||
| Q1 25 | 9.8% | 63.6% | ||
| Q4 24 | 13.4% | 65.9% | ||
| Q3 24 | 10.8% | 61.3% | ||
| Q2 24 | 8.8% | 58.6% | ||
| Q1 24 | 10.8% | 50.7% |
净利率CSGSRGLD
| Q4 25 | 2.2% | 24.9% | ||
| Q3 25 | 6.7% | 50.3% | ||
| Q2 25 | 4.1% | 63.1% | ||
| Q1 25 | 5.4% | 58.7% | ||
| Q4 24 | 10.9% | 53.0% | ||
| Q3 24 | 6.5% | 49.7% | ||
| Q2 24 | 4.8% | 46.6% | ||
| Q1 24 | 6.6% | 31.7% |
每股收益（稀释后）CSGSRGLD
| Q4 25 | $0.24 | $1.04 | ||
| Q3 25 | $0.73 | $1.92 | ||
| Q2 25 | $0.44 | $2.01 | ||
| Q1 25 | $0.57 | $1.72 | ||
| Q4 24 | $1.20 | $1.63 | ||
| Q3 24 | $0.67 | $1.46 | ||
| Q2 24 | $0.48 | $1.23 | ||
| Q1 24 | $0.68 | $0.72 |
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 | $233.7M |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $7.2B |
| 总资产 | $1.5B | $9.5B |
| 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CSGSRGLD
| Q4 25 | $180.0M | $233.7M | ||
| Q3 25 | $158.4M | $172.8M | ||
| Q2 25 | $145.9M | $248.2M | ||
| Q1 25 | $136.0M | $240.8M | ||
| Q4 24 | $161.8M | $195.5M | ||
| Q3 24 | $118.4M | $127.9M | ||
| Q2 24 | $110.4M | $74.2M | ||
| Q1 24 | $120.8M | $137.9M |
总债务CSGSRGLD
| Q4 25 | $539.5M | — | ||
| Q3 25 | $538.6M | — | ||
| Q2 25 | $537.8M | — | ||
| Q1 25 | $537.6M | — | ||
| Q4 24 | $538.5M | — | ||
| Q3 24 | $539.5M | $0 | ||
| Q2 24 | $540.5M | $50.0M | ||
| Q1 24 | $541.5M | — |
股东权益CSGSRGLD
| Q4 25 | $283.7M | $7.2B | ||
| Q3 25 | $289.5M | $3.4B | ||
| Q2 25 | $290.7M | $3.3B | ||
| Q1 25 | $283.1M | $3.2B | ||
| Q4 24 | $282.6M | $3.1B | ||
| Q3 24 | $288.4M | $3.0B | ||
| Q2 24 | $273.3M | $3.0B | ||
| Q1 24 | $269.3M | $2.9B |
总资产CSGSRGLD
| Q4 25 | $1.5B | $9.5B | ||
| Q3 25 | $1.5B | $4.5B | ||
| Q2 25 | $1.4B | $3.6B | ||
| Q1 25 | $1.4B | $3.5B | ||
| Q4 24 | $1.5B | $3.4B | ||
| Q3 24 | $1.4B | $3.3B | ||
| Q2 24 | $1.4B | $3.3B | ||
| Q1 24 | $1.3B | $3.3B |
负债/权益比CSGSRGLD
| Q4 25 | 1.90× | — | ||
| Q3 25 | 1.86× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 1.91× | — | ||
| Q3 24 | 1.87× | 0.00× | ||
| Q2 24 | 1.98× | 0.02× | ||
| 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 | $241.7M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | — |
| 自由现金流率自由现金流/营收 | 17.3% | — |
| 资本支出强度资本支出/营收 | 1.1% | — |
| 现金转化率经营现金流/净利润 | 8.46× | 2.58× |
| 过去12个月自由现金流最近4个季度 | $141.4M | — |
8季度趋势，按日历期对齐
经营现金流CSGSRGLD
| Q4 25 | $59.2M | $241.7M | ||
| Q3 25 | $47.9M | $174.0M | ||
| Q2 25 | $37.3M | $152.8M | ||
| Q1 25 | $11.5M | $136.4M | ||
| Q4 24 | $82.5M | $141.1M | ||
| Q3 24 | $39.5M | $136.7M | ||
| Q2 24 | $43.1M | $113.5M | ||
| Q1 24 | $-29.4M | $138.3M |
自由现金流CSGSRGLD
| Q4 25 | $55.8M | — | ||
| Q3 25 | $43.9M | — | ||
| Q2 25 | $34.6M | — | ||
| Q1 25 | $7.1M | — | ||
| Q4 24 | $76.6M | — | ||
| Q3 24 | $32.0M | — | ||
| Q2 24 | $38.8M | — | ||
| Q1 24 | $-34.1M | — |
自由现金流率CSGSRGLD
| Q4 25 | 17.3% | — | ||
| Q3 25 | 14.5% | — | ||
| Q2 25 | 11.6% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 24.2% | — | ||
| Q3 24 | 10.8% | — | ||
| Q2 24 | 13.4% | — | ||
| Q1 24 | -11.6% | — |
资本支出强度CSGSRGLD
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 1.5% | — | ||
| Q4 24 | 1.9% | — | ||
| Q3 24 | 2.5% | — | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 1.6% | — |
现金转化率CSGSRGLD
| Q4 25 | 8.46× | 2.58× | ||
| Q3 25 | 2.34× | 1.37× | ||
| Q2 25 | 3.04× | 1.15× | ||
| Q1 25 | 0.71× | 1.20× | ||
| Q4 24 | 2.39× | 1.31× | ||
| Q3 24 | 2.07× | 1.42× | ||
| Q2 24 | 3.12× | 1.40× | ||
| Q1 24 | -1.51× | 2.93× |
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% |
RGLD
| Gold | $216.9M | 58% |
| Pueblo Viejo | $47.3M | 13% |
| Andacollo | $32.6M | 9% |
| Silver | $32.1M | 9% |
| Other | $27.2M | 7% |
| Copper | $13.7M | 4% |
| Cortez Legacy Zone | $5.4M | 1% |
