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南玻集团（CSGS）与BOSTON BEER CO INC（SAM）财务数据对比。点击上方公司名可切换其他公司
BOSTON BEER CO INC的季度营收约是南玻集团的1.2倍（$385.7M vs $323.1M），南玻集团净利率更高（2.2% vs -5.8%，领先8.0%），南玻集团同比增速更快（2.0% vs -4.1%），南玻集团自由现金流更多（$55.8M vs $22.1M），过去两年南玻集团的营收复合增速更高（4.6% vs -4.9%）
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。
波士顿啤酒公司是美国知名酿酒企业，1984年由吉姆·科赫与朗达·卡尔曼联合创立。旗下首款产品以美国开国元勋、独立运动先驱塞缪尔·亚当斯命名，后续陆续推出多个自有品牌，2019年正式完成与角鲨头酿酒厂的合并，是北美精酿啤酒行业的核心参与者之一。
CSGS vs SAM — 直观对比
营收规模更大
SAM
是对方的1.2倍
$323.1M
营收增速更快
CSGS
高出6.2%
-4.1%
净利率更高
CSGS
高出8.0%
-5.8%
自由现金流更多
CSGS
多$33.7M
$22.1M
两年增速更快
CSGS
近两年复合增速
-4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $385.7M |
| 净利润 | $7.0M | $-22.5M |
| 毛利率 | 50.0% | 43.5% |
| 营业利润率 | 9.0% | -8.6% |
| 净利率 | 2.2% | -5.8% |
| 营收同比 | 2.0% | -4.1% |
| 净利润同比 | -79.7% | 41.9% |
| 每股收益（稀释后） | $0.24 | $-1.97 |
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CSGSSAM
| Q4 25 | $323.1M | $385.7M | ||
| Q3 25 | $303.6M | $537.5M | ||
| Q2 25 | $297.1M | $587.9M | ||
| Q1 25 | $299.5M | $453.9M | ||
| Q4 24 | $316.7M | $402.3M | ||
| Q3 24 | $295.1M | $605.5M | ||
| Q2 24 | $290.3M | $579.1M | ||
| Q1 24 | $295.1M | $426.1M |
净利润CSGSSAM
| Q4 25 | $7.0M | $-22.5M | ||
| Q3 25 | $20.5M | $46.2M | ||
| Q2 25 | $12.3M | $60.4M | ||
| Q1 25 | $16.1M | $24.4M | ||
| Q4 24 | $34.5M | $-38.8M | ||
| Q3 24 | $19.1M | $33.5M | ||
| Q2 24 | $13.8M | $52.3M | ||
| Q1 24 | $19.5M | $12.6M |
毛利率CSGSSAM
| Q4 25 | 50.0% | 43.5% | ||
| Q3 25 | 48.1% | 50.8% | ||
| Q2 25 | 49.5% | 49.8% | ||
| Q1 25 | 48.4% | 48.3% | ||
| Q4 24 | 51.3% | 39.9% | ||
| Q3 24 | 49.4% | 46.3% | ||
| Q2 24 | 47.3% | 46.0% | ||
| Q1 24 | 46.5% | 43.7% |
营业利润率CSGSSAM
| Q4 25 | 9.0% | -8.6% | ||
| Q3 25 | 10.0% | 11.5% | ||
| Q2 25 | 10.0% | 14.0% | ||
| Q1 25 | 9.8% | 7.4% | ||
| Q4 24 | 13.4% | -13.9% | ||
| Q3 24 | 10.8% | 7.6% | ||
| Q2 24 | 8.8% | 12.2% | ||
| Q1 24 | 10.8% | 3.6% |
净利率CSGSSAM
| Q4 25 | 2.2% | -5.8% | ||
| Q3 25 | 6.7% | 8.6% | ||
| Q2 25 | 4.1% | 10.3% | ||
| Q1 25 | 5.4% | 5.4% | ||
| Q4 24 | 10.9% | -9.6% | ||
| Q3 24 | 6.5% | 5.5% | ||
| Q2 24 | 4.8% | 9.0% | ||
| Q1 24 | 6.6% | 3.0% |
每股收益（稀释后）CSGSSAM
| Q4 25 | $0.24 | $-1.97 | ||
| Q3 25 | $0.73 | $4.25 | ||
| Q2 25 | $0.44 | $5.45 | ||
| Q1 25 | $0.57 | $2.16 | ||
| Q4 24 | $1.20 | $-3.23 | ||
| Q3 24 | $0.67 | $2.86 | ||
| Q2 24 | $0.48 | $4.39 | ||
| Q1 24 | $0.68 | $1.04 |
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 | $223.4M |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $846.3M |
| 总资产 | $1.5B | $1.2B |
| 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CSGSSAM
| Q4 25 | $180.0M | $223.4M | ||
| Q3 25 | $158.4M | $250.5M | ||
| Q2 25 | $145.9M | $212.4M | ||
| Q1 25 | $136.0M | $152.5M | ||
| Q4 24 | $161.8M | $211.8M | ||
| Q3 24 | $118.4M | $255.6M | ||
| Q2 24 | $110.4M | $219.3M | ||
| Q1 24 | $120.8M | $205.4M |
总债务CSGSSAM
| 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CSGSSAM
| Q4 25 | $283.7M | $846.3M | ||
| Q3 25 | $289.5M | $911.0M | ||
| Q2 25 | $290.7M | $912.3M | ||
| Q1 25 | $283.1M | $897.0M | ||
| Q4 24 | $282.6M | $916.2M | ||
| Q3 24 | $288.4M | $1.0B | ||
| Q2 24 | $273.3M | $1.0B | ||
| Q1 24 | $269.3M | $1.0B |
总资产CSGSSAM
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | $1.4B | $1.3B | ||
| Q1 25 | $1.4B | $1.2B | ||
| Q4 24 | $1.5B | $1.3B | ||
| Q3 24 | $1.4B | $1.4B | ||
| Q2 24 | $1.4B | $1.4B | ||
| Q1 24 | $1.3B | $1.4B |
负债/权益比CSGSSAM
| 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 | $39.9M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $22.1M |
| 自由现金流率自由现金流/营收 | 17.3% | 5.7% |
| 资本支出强度资本支出/营收 | 1.1% | 4.6% |
| 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 | $215.6M |
8季度趋势，按日历期对齐
经营现金流CSGSSAM
| Q4 25 | $59.2M | $39.9M | ||
| Q3 25 | $47.9M | $101.8M | ||
| Q2 25 | $37.3M | $126.5M | ||
| Q1 25 | $11.5M | $1.9M | ||
| Q4 24 | $82.5M | $41.9M | ||
| Q3 24 | $39.5M | $115.9M | ||
| Q2 24 | $43.1M | $96.0M | ||
| Q1 24 | $-29.4M | $-4.9M |
自由现金流CSGSSAM
| Q4 25 | $55.8M | $22.1M | ||
| Q3 25 | $43.9M | $89.2M | ||
| Q2 25 | $34.6M | $112.2M | ||
| Q1 25 | $7.1M | $-8.0M | ||
| Q4 24 | $76.6M | $18.4M | ||
| Q3 24 | $32.0M | $99.2M | ||
| Q2 24 | $38.8M | $75.6M | ||
| Q1 24 | $-34.1M | $-20.6M |
自由现金流率CSGSSAM
| Q4 25 | 17.3% | 5.7% | ||
| Q3 25 | 14.5% | 16.6% | ||
| Q2 25 | 11.6% | 19.1% | ||
| Q1 25 | 2.4% | -1.8% | ||
| Q4 24 | 24.2% | 4.6% | ||
| Q3 24 | 10.8% | 16.4% | ||
| Q2 24 | 13.4% | 13.1% | ||
| Q1 24 | -11.6% | -4.8% |
资本支出强度CSGSSAM
| Q4 25 | 1.1% | 4.6% | ||
| Q3 25 | 1.3% | 2.3% | ||
| Q2 25 | 0.9% | 2.4% | ||
| Q1 25 | 1.5% | 2.2% | ||
| Q4 24 | 1.9% | 5.8% | ||
| Q3 24 | 2.5% | 2.8% | ||
| Q2 24 | 1.5% | 3.5% | ||
| Q1 24 | 1.6% | 3.7% |
现金转化率CSGSSAM
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | 2.21× | ||
| Q2 25 | 3.04× | 2.09× | ||
| Q1 25 | 0.71× | 0.08× | ||
| Q4 24 | 2.39× | — | ||
| Q3 24 | 2.07× | 3.46× | ||
| Q2 24 | 3.12× | 1.83× | ||
| Q1 24 | -1.51× | -0.39× |
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% |
SAM
暂无分部数据
