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南玻集团（CSGS）与SPORTSMAN'S WAREHOUSE HOLDINGS, INC.（SPWH）财务数据对比。点击上方公司名可切换其他公司
SPORTSMAN'S WAREHOUSE HOLDINGS, INC.的季度营收约是南玻集团的1.0倍（$331.3M vs $323.1M），南玻集团净利率更高（2.2% vs 0.0%，领先2.2%），SPORTSMAN'S WAREHOUSE HOLDINGS, INC.同比增速更快（2.2% vs 2.0%），南玻集团自由现金流更多（$55.8M vs $8.7M），过去两年南玻集团的营收复合增速更高（4.6% vs -5.4%）
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。
运动员仓库控股（Sportsman's Warehouse）是美国户外体育用品零售商，门店遍布全美29个州，主要面向狩猎、射击、露营、垂钓等各类户外休闲运动爱好者，销售户外服饰、鞋履及专业运动装备。
CSGS vs SPWH — 直观对比
营收规模更大
SPWH
是对方的1.0倍
$323.1M
营收增速更快
SPWH
高出0.1%
2.0%
净利率更高
CSGS
高出2.2%
0.0%
自由现金流更多
CSGS
多$47.1M
$8.7M
两年增速更快
CSGS
近两年复合增速
-5.4%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $331.3M |
| 净利润 | $7.0M | $8.0K |
| 毛利率 | 50.0% | 32.8% |
| 营业利润率 | 9.0% | 1.3% |
| 净利率 | 2.2% | 0.0% |
| 营收同比 | 2.0% | 2.2% |
| 净利润同比 | -79.7% | -97.8% |
| 每股收益（稀释后） | $0.24 | $0.00 |
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CSGSSPWH
| Q4 25 | $323.1M | $331.3M | ||
| Q3 25 | $303.6M | $293.9M | ||
| Q2 25 | $297.1M | $249.1M | ||
| Q1 25 | $299.5M | $340.4M | ||
| Q4 24 | $316.7M | $324.3M | ||
| Q3 24 | $295.1M | $288.7M | ||
| Q2 24 | $290.3M | $244.2M | ||
| Q1 24 | $295.1M | $370.4M |
净利润CSGSSPWH
| Q4 25 | $7.0M | $8.0K | ||
| Q3 25 | $20.5M | $-7.1M | ||
| Q2 25 | $12.3M | $-21.3M | ||
| Q1 25 | $16.1M | $-8.7M | ||
| Q4 24 | $34.5M | $-364.0K | ||
| Q3 24 | $19.1M | $-5.9M | ||
| Q2 24 | $13.8M | $-18.1M | ||
| Q1 24 | $19.5M | $-8.7M |
毛利率CSGSSPWH
| Q4 25 | 50.0% | 32.8% | ||
| Q3 25 | 48.1% | 32.0% | ||
| Q2 25 | 49.5% | 30.4% | ||
| Q1 25 | 48.4% | 30.4% | ||
| Q4 24 | 51.3% | 31.8% | ||
| Q3 24 | 49.4% | 31.2% | ||
| Q2 24 | 47.3% | 30.2% | ||
| Q1 24 | 46.5% | 26.8% |
营业利润率CSGSSPWH
| Q4 25 | 9.0% | 1.3% | ||
| Q3 25 | 10.0% | -1.1% | ||
| Q2 25 | 10.0% | -7.9% | ||
| Q1 25 | 9.8% | 1.1% | ||
| Q4 24 | 13.4% | 1.0% | ||
| Q3 24 | 10.8% | -1.5% | ||
| Q2 24 | 8.8% | -8.4% | ||
| Q1 24 | 10.8% | -2.1% |
净利率CSGSSPWH
| Q4 25 | 2.2% | 0.0% | ||
| Q3 25 | 6.7% | -2.4% | ||
| Q2 25 | 4.1% | -8.5% | ||
| Q1 25 | 5.4% | -2.6% | ||
| Q4 24 | 10.9% | -0.1% | ||
| Q3 24 | 6.5% | -2.0% | ||
| Q2 24 | 4.8% | -7.4% | ||
| Q1 24 | 6.6% | -2.4% |
每股收益（稀释后）CSGSSPWH
| Q4 25 | $0.24 | $0.00 | ||
| Q3 25 | $0.73 | $-0.18 | ||
| Q2 25 | $0.44 | $-0.56 | ||
| Q1 25 | $0.57 | $-0.22 | ||
| Q4 24 | $1.20 | $-0.01 | ||
| Q3 24 | $0.67 | $-0.16 | ||
| Q2 24 | $0.48 | $-0.48 | ||
| Q1 24 | $0.68 | $-0.22 |
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 | $2.2M |
| 总债务越低越好 | $539.5M | $44.0M |
| 股东权益账面价值 | $283.7M | $209.5M |
| 总资产 | $1.5B | $913.9M |
| 负债/权益比越低杠杆越低 | 1.90× | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资CSGSSPWH
| Q4 25 | $180.0M | $2.2M | ||
| Q3 25 | $158.4M | $1.8M | ||
| Q2 25 | $145.9M | $3.6M | ||
| Q1 25 | $136.0M | $2.8M | ||
| Q4 24 | $161.8M | $2.7M | ||
| Q3 24 | $118.4M | $2.6M | ||
| Q2 24 | $110.4M | $2.2M | ||
| Q1 24 | $120.8M | $3.1M |
总债务CSGSSPWH
| Q4 25 | $539.5M | $44.0M | ||
| Q3 25 | $538.6M | $43.9M | ||
| Q2 25 | $537.8M | $24.1M | ||
| Q1 25 | $537.6M | $24.1M | ||
| Q4 24 | $538.5M | $24.0M | ||
| Q3 24 | $539.5M | $24.0M | ||
| Q2 24 | $540.5M | — | ||
| Q1 24 | $541.5M | — |
股东权益CSGSSPWH
| Q4 25 | $283.7M | $209.5M | ||
| Q3 25 | $289.5M | $208.9M | ||
| Q2 25 | $290.7M | $215.1M | ||
| Q1 25 | $283.1M | $235.7M | ||
| Q4 24 | $282.6M | $243.6M | ||
| Q3 24 | $288.4M | $243.0M | ||
| Q2 24 | $273.3M | $247.5M | ||
| Q1 24 | $269.3M | $264.6M |
总资产CSGSSPWH
| Q4 25 | $1.5B | $913.9M | ||
| Q3 25 | $1.5B | $948.9M | ||
| Q2 25 | $1.4B | $929.7M | ||
| Q1 25 | $1.4B | $852.1M | ||
| Q4 24 | $1.5B | $967.7M | ||
| Q3 24 | $1.4B | $901.9M | ||
| Q2 24 | $1.4B | $930.4M | ||
| Q1 24 | $1.3B | $886.2M |
负债/权益比CSGSSPWH
| Q4 25 | 1.90× | 0.21× | ||
| Q3 25 | 1.86× | 0.21× | ||
| Q2 25 | 1.85× | 0.11× | ||
| Q1 25 | 1.90× | 0.10× | ||
| Q4 24 | 1.91× | 0.10× | ||
| Q3 24 | 1.87× | 0.10× | ||
| 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 | $16.3M |
| 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% | 2.6% |
| 资本支出强度资本支出/营收 | 1.1% | 2.3% |
| 现金转化率经营现金流/净利润 | 8.46× | 2038.00× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $-39.7M |
8季度趋势，按日历期对齐
经营现金流CSGSSPWH
| Q4 25 | $59.2M | $16.3M | ||
| Q3 25 | $47.9M | $-26.6M | ||
| Q2 25 | $37.3M | $-60.2M | ||
| Q1 25 | $11.5M | $52.8M | ||
| Q4 24 | $82.5M | $-2.5M | ||
| Q3 24 | $39.5M | $18.5M | ||
| Q2 24 | $43.1M | $-34.6M | ||
| Q1 24 | $-29.4M | $68.9M |
自由现金流CSGSSPWH
| Q4 25 | $55.8M | $8.7M | ||
| Q3 25 | $43.9M | $-33.9M | ||
| Q2 25 | $34.6M | $-64.0M | ||
| Q1 25 | $7.1M | $49.6M | ||
| Q4 24 | $76.6M | $-6.2M | ||
| Q3 24 | $32.0M | $14.1M | ||
| Q2 24 | $38.8M | $-38.0M | ||
| Q1 24 | $-34.1M | $60.2M |
自由现金流率CSGSSPWH
| Q4 25 | 17.3% | 2.6% | ||
| Q3 25 | 14.5% | -11.5% | ||
| Q2 25 | 11.6% | -25.7% | ||
| Q1 25 | 2.4% | 14.6% | ||
| Q4 24 | 24.2% | -1.9% | ||
| Q3 24 | 10.8% | 4.9% | ||
| Q2 24 | 13.4% | -15.5% | ||
| Q1 24 | -11.6% | 16.2% |
资本支出强度CSGSSPWH
| Q4 25 | 1.1% | 2.3% | ||
| Q3 25 | 1.3% | 2.5% | ||
| Q2 25 | 0.9% | 1.5% | ||
| Q1 25 | 1.5% | 1.0% | ||
| Q4 24 | 1.9% | 1.1% | ||
| Q3 24 | 2.5% | 1.5% | ||
| Q2 24 | 1.5% | 1.4% | ||
| Q1 24 | 1.6% | 2.4% |
现金转化率CSGSSPWH
| Q4 25 | 8.46× | 2038.00× | ||
| 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% |
SPWH
暂无分部数据
