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南玻集团（CSGS）与SL GREEN REALTY CORP（SLG）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SL GREEN REALTY CORP的1.2倍（$323.1M vs $276.5M），南玻集团净利率更高（2.2% vs -36.5%，领先38.6%），SL GREEN REALTY CORP同比增速更快（12.4% vs 2.0%），过去两年SL GREEN REALTY CORP的营收复合增速更高（21.3% 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。
SL Green Realty Corp是一家房地产投资信托企业，核心业务为投资纽约市的写字楼与商业中心，被誉为“纽约市最大的写字楼业主”。截至2024年12月31日，公司持有39处物业的权益，总面积达2529.7万平方英尺，资产主要分布在曼哈顿区域。
CSGS vs SLG — 直观对比
营收规模更大
CSGS
是对方的1.2倍
$276.5M
营收增速更快
SLG
高出10.4%
2.0%
净利率更高
CSGS
高出38.6%
-36.5%
两年增速更快
SLG
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $276.5M |
| 净利润 | $7.0M | $-100.8M |
| 毛利率 | 50.0% | — |
| 营业利润率 | 9.0% | 64.2% |
| 净利率 | 2.2% | -36.5% |
| 营收同比 | 2.0% | 12.4% |
| 净利润同比 | -79.7% | -870.0% |
| 每股收益（稀释后） | $0.24 | $-1.49 |
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CSGSSLG
| Q4 25 | $323.1M | $276.5M | ||
| Q3 25 | $303.6M | $244.8M | ||
| Q2 25 | $297.1M | $241.9M | ||
| Q1 25 | $299.5M | $239.8M | ||
| Q4 24 | $316.7M | $245.9M | ||
| Q3 24 | $295.1M | $229.7M | ||
| Q2 24 | $290.3M | $222.8M | ||
| Q1 24 | $295.1M | $187.9M |
净利润CSGSSLG
| Q4 25 | $7.0M | $-100.8M | ||
| Q3 25 | $20.5M | $28.6M | ||
| Q2 25 | $12.3M | $-7.4M | ||
| Q1 25 | $16.1M | $-17.3M | ||
| Q4 24 | $34.5M | $19.1M | ||
| Q3 24 | $19.1M | $-9.5M | ||
| Q2 24 | $13.8M | $1.6M | ||
| Q1 24 | $19.5M | $16.9M |
毛利率CSGSSLG
| 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CSGSSLG
| Q4 25 | 9.0% | 64.2% | ||
| Q3 25 | 10.0% | 85.5% | ||
| Q2 25 | 10.0% | 53.4% | ||
| Q1 25 | 9.8% | 56.7% | ||
| Q4 24 | 13.4% | 59.8% | ||
| Q3 24 | 10.8% | 65.1% | ||
| Q2 24 | 8.8% | 79.2% | ||
| Q1 24 | 10.8% | — |
净利率CSGSSLG
| Q4 25 | 2.2% | -36.5% | ||
| Q3 25 | 6.7% | 11.7% | ||
| Q2 25 | 4.1% | -3.0% | ||
| Q1 25 | 5.4% | -7.2% | ||
| Q4 24 | 10.9% | 7.8% | ||
| Q3 24 | 6.5% | -4.2% | ||
| Q2 24 | 4.8% | 0.7% | ||
| Q1 24 | 6.6% | 9.0% |
每股收益（稀释后）CSGSSLG
| Q4 25 | $0.24 | $-1.49 | ||
| Q3 25 | $0.73 | $0.34 | ||
| Q2 25 | $0.44 | $-0.16 | ||
| Q1 25 | $0.57 | $-0.30 | ||
| Q4 24 | $1.20 | $0.13 | ||
| Q3 24 | $0.67 | $-0.21 | ||
| Q2 24 | $0.48 | $-0.04 | ||
| Q1 24 | $0.68 | $0.20 |
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 | $155.7M |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $3.7B |
| 总资产 | $1.5B | $11.1B |
| 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CSGSSLG
| Q4 25 | $180.0M | $155.7M | ||
| Q3 25 | $158.4M | $187.0M | ||
| Q2 25 | $145.9M | $182.9M | ||
| Q1 25 | $136.0M | $180.1M | ||
| Q4 24 | $161.8M | $184.3M | ||
| Q3 24 | $118.4M | $188.2M | ||
| Q2 24 | $110.4M | $199.5M | ||
| Q1 24 | $120.8M | $196.0M |
总债务CSGSSLG
| 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CSGSSLG
| Q4 25 | $283.7M | $3.7B | ||
| Q3 25 | $289.5M | $3.8B | ||
| Q2 25 | $290.7M | $3.8B | ||
| Q1 25 | $283.1M | $3.8B | ||
| Q4 24 | $282.6M | $4.0B | ||
| Q3 24 | $288.4M | $3.6B | ||
| Q2 24 | $273.3M | $3.7B | ||
| Q1 24 | $269.3M | $3.7B |
总资产CSGSSLG
| Q4 25 | $1.5B | $11.1B | ||
| Q3 25 | $1.5B | $11.1B | ||
| Q2 25 | $1.4B | $11.3B | ||
| Q1 25 | $1.4B | $11.4B | ||
| Q4 24 | $1.5B | $10.5B | ||
| Q3 24 | $1.4B | $10.2B | ||
| Q2 24 | $1.4B | $9.5B | ||
| Q1 24 | $1.3B | $9.8B |
负债/权益比CSGSSLG
| 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 | $82.9M |
| 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× | — |
| 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CSGSSLG
| Q4 25 | $59.2M | $82.9M | ||
| Q3 25 | $47.9M | $-6.8M | ||
| Q2 25 | $37.3M | $54.5M | ||
| Q1 25 | $11.5M | $6.7M | ||
| Q4 24 | $82.5M | $129.6M | ||
| Q3 24 | $39.5M | $16.7M | ||
| Q2 24 | $43.1M | $79.4M | ||
| Q1 24 | $-29.4M | $-24.7M |
自由现金流CSGSSLG
| 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CSGSSLG
| 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CSGSSLG
| 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CSGSSLG
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | -0.24× | ||
| Q2 25 | 3.04× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 2.39× | 6.77× | ||
| Q3 24 | 2.07× | — | ||
| Q2 24 | 3.12× | 50.33× | ||
| Q1 24 | -1.51× | -1.46× |
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% |
SLG
| Real Estate Segment | $223.1M | 81% |
| Other | $35.9M | 13% |
| Debt And Preferred Equity Segment | $17.4M | 6% |
