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南玻集团（CSGS）与STONERIDGE INC（SRI）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STONERIDGE INC的1.6倍（$323.1M vs $205.2M），南玻集团同比增速更快（2.0% vs -6.0%），南玻集团自由现金流更多（$55.8M vs $2.6M），过去两年南玻集团的营收复合增速更高（4.6% vs -7.4%）
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。
Stoneridge Inc是全球领先的电气电子元件、集成系统及传感器解决方案设计制造商，服务汽车、商用车、非道路设备与航空航天领域，产品可提升车辆安全性、运行效率、互联性与环保表现，业务覆盖全球核心市场。
CSGS vs SRI — 直观对比
营收规模更大
CSGS
是对方的1.6倍
$205.2M
营收增速更快
CSGS
高出8.0%
-6.0%
自由现金流更多
CSGS
多$53.2M
$2.6M
两年增速更快
CSGS
近两年复合增速
-7.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $205.2M |
| 净利润 | $7.0M | — |
| 毛利率 | 50.0% | 16.2% |
| 营业利润率 | 9.0% | -14.4% |
| 净利率 | 2.2% | — |
| 营收同比 | 2.0% | -6.0% |
| 净利润同比 | -79.7% | — |
| 每股收益（稀释后） | $0.24 | $-2.76 |
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CSGSSRI
| Q4 25 | $323.1M | $205.2M | ||
| Q3 25 | $303.6M | $210.3M | ||
| Q2 25 | $297.1M | $228.0M | ||
| Q1 25 | $299.5M | $217.9M | ||
| Q4 24 | $316.7M | $218.2M | ||
| Q3 24 | $295.1M | $213.8M | ||
| Q2 24 | $290.3M | $237.1M | ||
| Q1 24 | $295.1M | $239.2M |
净利润CSGSSRI
| Q4 25 | $7.0M | — | ||
| Q3 25 | $20.5M | $-9.4M | ||
| Q2 25 | $12.3M | $-9.4M | ||
| Q1 25 | $16.1M | $-7.2M | ||
| Q4 24 | $34.5M | — | ||
| Q3 24 | $19.1M | $-7.1M | ||
| Q2 24 | $13.8M | $2.8M | ||
| Q1 24 | $19.5M | $-6.1M |
毛利率CSGSSRI
| Q4 25 | 50.0% | 16.2% | ||
| Q3 25 | 48.1% | 20.3% | ||
| Q2 25 | 49.5% | 21.5% | ||
| Q1 25 | 48.4% | 21.2% | ||
| Q4 24 | 51.3% | 19.5% | ||
| Q3 24 | 49.4% | 20.8% | ||
| Q2 24 | 47.3% | 22.7% | ||
| Q1 24 | 46.5% | 20.2% |
营业利润率CSGSSRI
| Q4 25 | 9.0% | -14.4% | ||
| Q3 25 | 10.0% | -1.6% | ||
| Q2 25 | 10.0% | -1.1% | ||
| Q1 25 | 9.8% | -1.5% | ||
| Q4 24 | 13.4% | -2.0% | ||
| Q3 24 | 10.8% | 0.1% | ||
| Q2 24 | 8.8% | 1.4% | ||
| Q1 24 | 10.8% | 0.1% |
净利率CSGSSRI
| Q4 25 | 2.2% | — | ||
| Q3 25 | 6.7% | -4.5% | ||
| Q2 25 | 4.1% | -4.1% | ||
| Q1 25 | 5.4% | -3.3% | ||
| Q4 24 | 10.9% | — | ||
| Q3 24 | 6.5% | -3.3% | ||
| Q2 24 | 4.8% | 1.2% | ||
| Q1 24 | 6.6% | -2.6% |
每股收益（稀释后）CSGSSRI
| Q4 25 | $0.24 | $-2.76 | ||
| Q3 25 | $0.73 | $-0.34 | ||
| Q2 25 | $0.44 | $-0.34 | ||
| Q1 25 | $0.57 | $-0.26 | ||
| Q4 24 | $1.20 | $-0.22 | ||
| Q3 24 | $0.67 | $-0.26 | ||
| Q2 24 | $0.48 | $0.10 | ||
| 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 | $66.3M |
| 总债务越低越好 | $539.5M | $180.9M |
| 股东权益账面价值 | $283.7M | $179.8M |
| 总资产 | $1.5B | $551.2M |
| 负债/权益比越低杠杆越低 | 1.90× | 1.01× |
8季度趋势，按日历期对齐
现金及短期投资CSGSSRI
| Q4 25 | $180.0M | $66.3M | ||
| Q3 25 | $158.4M | $54.0M | ||
| Q2 25 | $145.9M | $49.8M | ||
| Q1 25 | $136.0M | $79.1M | ||
| Q4 24 | $161.8M | $71.8M | ||
| Q3 24 | $118.4M | $54.1M | ||
| Q2 24 | $110.4M | $42.1M | ||
| Q1 24 | $120.8M | $48.4M |
总债务CSGSSRI
| Q4 25 | $539.5M | $180.9M | ||
| Q3 25 | $538.6M | — | ||
| Q2 25 | $537.8M | — | ||
| Q1 25 | $537.6M | — | ||
| Q4 24 | $538.5M | $201.6M | ||
| Q3 24 | $539.5M | — | ||
| Q2 24 | $540.5M | — | ||
| Q1 24 | $541.5M | — |
股东权益CSGSSRI
| Q4 25 | $283.7M | $179.8M | ||
| Q3 25 | $289.5M | $251.2M | ||
| Q2 25 | $290.7M | $260.5M | ||
| Q1 25 | $283.1M | $253.1M | ||
| Q4 24 | $282.6M | $245.3M | ||
| Q3 24 | $288.4M | $271.4M | ||
| Q2 24 | $273.3M | $270.5M | ||
| Q1 24 | $269.3M | $277.3M |
总资产CSGSSRI
| Q4 25 | $1.5B | $551.2M | ||
| Q3 25 | $1.5B | $632.1M | ||
| Q2 25 | $1.4B | $639.4M | ||
| Q1 25 | $1.4B | $657.4M | ||
| Q4 24 | $1.5B | $621.6M | ||
| Q3 24 | $1.4B | $662.5M | ||
| Q2 24 | $1.4B | $666.7M | ||
| Q1 24 | $1.3B | $675.4M |
负债/权益比CSGSSRI
| Q4 25 | 1.90× | 1.01× | ||
| Q3 25 | 1.86× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 1.91× | 0.82× | ||
| 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 | $8.8M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $2.6M |
| 自由现金流率自由现金流/营收 | 17.3% | 1.3% |
| 资本支出强度资本支出/营收 | 1.1% | 3.0% |
| 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 | $12.2M |
8季度趋势，按日历期对齐
经营现金流CSGSSRI
| Q4 25 | $59.2M | $8.8M | ||
| Q3 25 | $47.9M | $3.6M | ||
| Q2 25 | $37.3M | $10.7M | ||
| Q1 25 | $11.5M | $10.9M | ||
| Q4 24 | $82.5M | $19.2M | ||
| Q3 24 | $39.5M | $10.8M | ||
| Q2 24 | $43.1M | $8.7M | ||
| Q1 24 | $-29.4M | $9.1M |
自由现金流CSGSSRI
| Q4 25 | $55.8M | $2.6M | ||
| Q3 25 | $43.9M | $-2.7M | ||
| Q2 25 | $34.6M | $7.4M | ||
| Q1 25 | $7.1M | $4.8M | ||
| Q4 24 | $76.6M | $14.0M | ||
| Q3 24 | $32.0M | $4.6M | ||
| Q2 24 | $38.8M | $1.5M | ||
| Q1 24 | $-34.1M | $3.3M |
自由现金流率CSGSSRI
| Q4 25 | 17.3% | 1.3% | ||
| Q3 25 | 14.5% | -1.3% | ||
| Q2 25 | 11.6% | 3.3% | ||
| Q1 25 | 2.4% | 2.2% | ||
| Q4 24 | 24.2% | 6.4% | ||
| Q3 24 | 10.8% | 2.2% | ||
| Q2 24 | 13.4% | 0.6% | ||
| Q1 24 | -11.6% | 1.4% |
资本支出强度CSGSSRI
| Q4 25 | 1.1% | 3.0% | ||
| Q3 25 | 1.3% | 3.0% | ||
| Q2 25 | 0.9% | 1.4% | ||
| Q1 25 | 1.5% | 2.8% | ||
| Q4 24 | 1.9% | 2.4% | ||
| Q3 24 | 2.5% | 2.9% | ||
| Q2 24 | 1.5% | 3.0% | ||
| Q1 24 | 1.6% | 2.4% |
现金转化率CSGSSRI
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | — | ||
| Q2 25 | 3.04× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 2.39× | — | ||
| Q3 24 | 2.07× | — | ||
| Q2 24 | 3.12× | 3.11× | ||
| 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% |
SRI
| Control Devices | $51.7M | 25% |
| Electronics | $38.0M | 19% |
| EE | $34.2M | 17% |
| SE | $28.6M | 14% |
| NL | $24.5M | 12% |
| Stoneridge Brazil | $14.1M | 7% |
| Asia Pacific | $13.1M | 6% |
