vs
南玻集团（CSGS）与null（SDHC）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null的1.2倍（$323.1M vs $260.4M），南玻集团净利率更高（2.2% vs 1.4%，领先0.8%），南玻集团同比增速更快（2.0% vs -9.4%），南玻集团自由现金流更多（$55.8M vs $8.7M），过去两年null的营收复合增速更高（17.3% 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。
史密斯韦森品牌公司是美国的枪械制造商，总部位于美国田纳西州玛丽维尔，是该领域历史悠久且知名的生产企业，在民用及警用枪械市场拥有较高的认可度。
CSGS vs SDHC — 直观对比
营收规模更大
CSGS
是对方的1.2倍
$260.4M
营收增速更快
CSGS
高出11.4%
-9.4%
净利率更高
CSGS
高出0.8%
1.4%
自由现金流更多
CSGS
多$47.1M
$8.7M
两年增速更快
SDHC
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $260.4M |
| 净利润 | $7.0M | $3.5M |
| 毛利率 | 50.0% | 19.9% |
| 营业利润率 | 9.0% | 6.5% |
| 净利率 | 2.2% | 1.4% |
| 营收同比 | 2.0% | -9.4% |
| 净利润同比 | -79.7% | -14.3% |
| 每股收益（稀释后） | $0.24 | $0.39 |
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CSGSSDHC
| Q4 25 | $323.1M | $260.4M | ||
| Q3 25 | $303.6M | $262.0M | ||
| Q2 25 | $297.1M | $223.9M | ||
| Q1 25 | $299.5M | $224.7M | ||
| Q4 24 | $316.7M | $287.5M | ||
| Q3 24 | $295.1M | $277.8M | ||
| Q2 24 | $290.3M | $220.9M | ||
| Q1 24 | $295.1M | $189.2M |
净利润CSGSSDHC
| Q4 25 | $7.0M | $3.5M | ||
| Q3 25 | $20.5M | $2.1M | ||
| Q2 25 | $12.3M | $2.4M | ||
| Q1 25 | $16.1M | $2.7M | ||
| Q4 24 | $34.5M | $4.1M | ||
| Q3 24 | $19.1M | $5.3M | ||
| Q2 24 | $13.8M | $3.6M | ||
| Q1 24 | $19.5M | $3.0M |
毛利率CSGSSDHC
| Q4 25 | 50.0% | 19.9% | ||
| Q3 25 | 48.1% | 21.0% | ||
| Q2 25 | 49.5% | 23.2% | ||
| Q1 25 | 48.4% | 23.8% | ||
| Q4 24 | 51.3% | 25.5% | ||
| Q3 24 | 49.4% | 26.5% | ||
| Q2 24 | 47.3% | 26.7% | ||
| Q1 24 | 46.5% | 26.1% |
营业利润率CSGSSDHC
| Q4 25 | 9.0% | 6.5% | ||
| Q3 25 | 10.0% | 6.6% | ||
| Q2 25 | 10.0% | 7.7% | ||
| Q1 25 | 9.8% | 8.7% | ||
| Q4 24 | 13.4% | 10.4% | ||
| Q3 24 | 10.8% | 14.2% | ||
| Q2 24 | 8.8% | 11.7% | ||
| Q1 24 | 10.8% | 11.3% |
净利率CSGSSDHC
| Q4 25 | 2.2% | 1.4% | ||
| Q3 25 | 6.7% | 0.8% | ||
| Q2 25 | 4.1% | 1.1% | ||
| Q1 25 | 5.4% | 1.2% | ||
| Q4 24 | 10.9% | 1.4% | ||
| Q3 24 | 6.5% | 1.9% | ||
| Q2 24 | 4.8% | 1.7% | ||
| Q1 24 | 6.6% | 1.6% |
每股收益（稀释后）CSGSSDHC
| Q4 25 | $0.24 | $0.39 | ||
| Q3 25 | $0.73 | $0.24 | ||
| Q2 25 | $0.44 | $0.26 | ||
| Q1 25 | $0.57 | $0.30 | ||
| Q4 24 | $1.20 | $0.50 | ||
| Q3 24 | $0.67 | $0.58 | ||
| Q2 24 | $0.48 | $0.40 | ||
| Q1 24 | $0.68 | $0.33 |
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 | $12.7M |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $86.7M |
| 总资产 | $1.5B | $557.6M |
| 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CSGSSDHC
| Q4 25 | $180.0M | $12.7M | ||
| Q3 25 | $158.4M | $14.8M | ||
| Q2 25 | $145.9M | $16.8M | ||
| Q1 25 | $136.0M | $12.7M | ||
| Q4 24 | $161.8M | $22.4M | ||
| Q3 24 | $118.4M | $23.7M | ||
| Q2 24 | $110.4M | $17.3M | ||
| Q1 24 | $120.8M | $32.8M |
总债务CSGSSDHC
| 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CSGSSDHC
| Q4 25 | $283.7M | $86.7M | ||
| Q3 25 | $289.5M | $82.2M | ||
| Q2 25 | $290.7M | $80.0M | ||
| Q1 25 | $283.1M | $76.9M | ||
| Q4 24 | $282.6M | $73.6M | ||
| Q3 24 | $288.4M | $68.4M | ||
| Q2 24 | $273.3M | $62.1M | ||
| Q1 24 | $269.3M | $59.7M |
总资产CSGSSDHC
| Q4 25 | $1.5B | $557.6M | ||
| Q3 25 | $1.5B | $571.6M | ||
| Q2 25 | $1.4B | $570.2M | ||
| Q1 25 | $1.4B | $513.9M | ||
| Q4 24 | $1.5B | $475.9M | ||
| Q3 24 | $1.4B | $460.1M | ||
| Q2 24 | $1.4B | $429.3M | ||
| Q1 24 | $1.3B | $401.3M |
负债/权益比CSGSSDHC
| 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 | $9.8M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $8.7M |
| 自由现金流率自由现金流/营收 | 17.3% | 3.4% |
| 资本支出强度资本支出/营收 | 1.1% | 0.4% |
| 现金转化率经营现金流/净利润 | 8.46× | 2.77× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $-36.9M |
8季度趋势，按日历期对齐
经营现金流CSGSSDHC
| Q4 25 | $59.2M | $9.8M | ||
| Q3 25 | $47.9M | $22.8M | ||
| Q2 25 | $37.3M | $-28.9M | ||
| Q1 25 | $11.5M | $-34.9M | ||
| Q4 24 | $82.5M | $5.5M | ||
| Q3 24 | $39.5M | $22.9M | ||
| Q2 24 | $43.1M | $39.0K | ||
| Q1 24 | $-29.4M | $-9.3M |
自由现金流CSGSSDHC
| Q4 25 | $55.8M | $8.7M | ||
| Q3 25 | $43.9M | $21.4M | ||
| Q2 25 | $34.6M | $-31.1M | ||
| Q1 25 | $7.1M | $-35.9M | ||
| Q4 24 | $76.6M | $4.8M | ||
| Q3 24 | $32.0M | $22.3M | ||
| Q2 24 | $38.8M | $-2.1M | ||
| Q1 24 | $-34.1M | $-9.7M |
自由现金流率CSGSSDHC
| Q4 25 | 17.3% | 3.4% | ||
| Q3 25 | 14.5% | 8.2% | ||
| Q2 25 | 11.6% | -13.9% | ||
| Q1 25 | 2.4% | -16.0% | ||
| Q4 24 | 24.2% | 1.7% | ||
| Q3 24 | 10.8% | 8.0% | ||
| Q2 24 | 13.4% | -1.0% | ||
| Q1 24 | -11.6% | -5.1% |
资本支出强度CSGSSDHC
| Q4 25 | 1.1% | 0.4% | ||
| Q3 25 | 1.3% | 0.5% | ||
| Q2 25 | 0.9% | 0.9% | ||
| Q1 25 | 1.5% | 0.5% | ||
| Q4 24 | 1.9% | 0.2% | ||
| Q3 24 | 2.5% | 0.2% | ||
| Q2 24 | 1.5% | 1.0% | ||
| Q1 24 | 1.6% | 0.2% |
现金转化率CSGSSDHC
| Q4 25 | 8.46× | 2.77× | ||
| Q3 25 | 2.34× | 10.70× | ||
| Q2 25 | 3.04× | -12.24× | ||
| Q1 25 | 0.71× | -13.01× | ||
| Q4 24 | 2.39× | 1.33× | ||
| Q3 24 | 2.07× | 4.28× | ||
| Q2 24 | 3.12× | 0.01× | ||
| Q1 24 | -1.51× | -3.12× |
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% |
SDHC
| Southeast | $164.7M | 63% |
| Central | $95.8M | 37% |
