vs
南玻集团（CSGS）与SSR MINING INC.（SSRM）财务数据对比。点击上方公司名可切换其他公司
SSR MINING INC.的季度营收约是南玻集团的1.6倍（$521.7M vs $323.1M），SSR MINING INC.净利率更高（34.8% vs 2.2%，领先32.6%），SSR MINING INC.同比增速更快（61.4% vs 2.0%），SSR MINING INC.自由现金流更多（$106.4M vs $55.8M），过去两年SSR MINING INC.的营收复合增速更高（50.5% 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。
SSR Mining Inc.（前身为白银标准资源公司）总部位于美国科罗拉多州丹佛，主营金、银、铜、铅、锌矿产开采，拥有阿根廷最大的银矿，同时在美洲全境及土耳其开展矿产勘探业务。2020年与阿拉瑟黄金合并后迁至丹佛，现任总裁兼首席执行官为罗德尼·P·安塔尔。
CSGS vs SSRM — 直观对比
营收规模更大
SSRM
是对方的1.6倍
$323.1M
营收增速更快
SSRM
高出59.4%
2.0%
净利率更高
SSRM
高出32.6%
2.2%
自由现金流更多
SSRM
多$50.6M
$55.8M
两年增速更快
SSRM
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $521.7M |
| 净利润 | $7.0M | $181.5M |
| 毛利率 | 50.0% | — |
| 营业利润率 | 9.0% | 38.8% |
| 净利率 | 2.2% | 34.8% |
| 营收同比 | 2.0% | 61.4% |
| 净利润同比 | -79.7% | 3166.6% |
| 每股收益（稀释后） | $0.24 | $0.84 |
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CSGSSSRM
| Q4 25 | $323.1M | $521.7M | ||
| Q3 25 | $303.6M | $385.8M | ||
| Q2 25 | $297.1M | $405.5M | ||
| Q1 25 | $299.5M | $316.6M | ||
| Q4 24 | $316.7M | $323.2M | ||
| Q3 24 | $295.1M | $257.4M | ||
| Q2 24 | $290.3M | $184.8M | ||
| Q1 24 | $295.1M | $230.2M |
净利润CSGSSSRM
| Q4 25 | $7.0M | $181.5M | ||
| Q3 25 | $20.5M | $65.4M | ||
| Q2 25 | $12.3M | $90.1M | ||
| Q1 25 | $16.1M | $58.8M | ||
| Q4 24 | $34.5M | $5.6M | ||
| Q3 24 | $19.1M | $10.6M | ||
| Q2 24 | $13.8M | $9.7M | ||
| Q1 24 | $19.5M | $-287.1M |
毛利率CSGSSSRM
| 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CSGSSSRM
| Q4 25 | 9.0% | 38.8% | ||
| Q3 25 | 10.0% | 21.6% | ||
| Q2 25 | 10.0% | 26.9% | ||
| Q1 25 | 9.8% | 21.1% | ||
| Q4 24 | 13.4% | 10.6% | ||
| Q3 24 | 10.8% | 3.5% | ||
| Q2 24 | 8.8% | 5.8% | ||
| Q1 24 | 10.8% | -163.5% |
净利率CSGSSSRM
| Q4 25 | 2.2% | 34.8% | ||
| Q3 25 | 6.7% | 17.0% | ||
| Q2 25 | 4.1% | 22.2% | ||
| Q1 25 | 5.4% | 18.6% | ||
| Q4 24 | 10.9% | 1.7% | ||
| Q3 24 | 6.5% | 4.1% | ||
| Q2 24 | 4.8% | 5.2% | ||
| Q1 24 | 6.6% | -124.7% |
每股收益（稀释后）CSGSSSRM
| Q4 25 | $0.24 | $0.84 | ||
| Q3 25 | $0.73 | $0.31 | ||
| Q2 25 | $0.44 | $0.42 | ||
| Q1 25 | $0.57 | $0.28 | ||
| Q4 24 | $1.20 | $0.03 | ||
| Q3 24 | $0.67 | $0.05 | ||
| Q2 24 | $0.48 | $0.05 | ||
| Q1 24 | $0.68 | $-1.42 |
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 | $575.6M |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $3.5B |
| 总资产 | $1.5B | $6.1B |
| 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CSGSSSRM
| Q4 25 | $180.0M | $575.6M | ||
| Q3 25 | $158.4M | $445.4M | ||
| Q2 25 | $145.9M | $438.5M | ||
| Q1 25 | $136.0M | $341.3M | ||
| Q4 24 | $161.8M | $417.3M | ||
| Q3 24 | $118.4M | $365.8M | ||
| Q2 24 | $110.4M | $384.4M | ||
| Q1 24 | $120.8M | $492.0M |
总债务CSGSSSRM
| Q4 25 | $539.5M | — | ||
| Q3 25 | $538.6M | — | ||
| Q2 25 | $537.8M | — | ||
| Q1 25 | $537.6M | — | ||
| Q4 24 | $538.5M | $228.6M | ||
| Q3 24 | $539.5M | $228.3M | ||
| Q2 24 | $540.5M | $228.0M | ||
| Q1 24 | $541.5M | $228.7M |
股东权益CSGSSSRM
| Q4 25 | $283.7M | $3.5B | ||
| Q3 25 | $289.5M | $3.3B | ||
| Q2 25 | $290.7M | $3.3B | ||
| Q1 25 | $283.1M | $3.2B | ||
| Q4 24 | $282.6M | $3.1B | ||
| Q3 24 | $288.4M | $3.1B | ||
| Q2 24 | $273.3M | $3.1B | ||
| Q1 24 | $269.3M | $3.1B |
总资产CSGSSSRM
| Q4 25 | $1.5B | $6.1B | ||
| Q3 25 | $1.5B | $5.9B | ||
| Q2 25 | $1.4B | $5.8B | ||
| Q1 25 | $1.4B | $5.6B | ||
| Q4 24 | $1.5B | $5.2B | ||
| Q3 24 | $1.4B | $5.1B | ||
| Q2 24 | $1.4B | $5.2B | ||
| Q1 24 | $1.3B | $5.3B |
负债/权益比CSGSSSRM
| Q4 25 | 1.90× | — | ||
| Q3 25 | 1.86× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 1.91× | 0.07× | ||
| Q3 24 | 1.87× | 0.07× | ||
| Q2 24 | 1.98× | 0.07× | ||
| Q1 24 | 2.01× | 0.07× |
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 | $172.1M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $106.4M |
| 自由现金流率自由现金流/营收 | 17.3% | 20.4% |
| 资本支出强度资本支出/营收 | 1.1% | 12.6% |
| 现金转化率经营现金流/净利润 | 8.46× | 0.95× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $241.6M |
8季度趋势，按日历期对齐
经营现金流CSGSSSRM
| Q4 25 | $59.2M | $172.1M | ||
| Q3 25 | $47.9M | $57.2M | ||
| Q2 25 | $37.3M | $157.8M | ||
| Q1 25 | $11.5M | $84.8M | ||
| Q4 24 | $82.5M | $95.0M | ||
| Q3 24 | $39.5M | $-1.3M | ||
| Q2 24 | $43.1M | $-78.1M | ||
| Q1 24 | $-29.4M | $24.6M |
自由现金流CSGSSSRM
| Q4 25 | $55.8M | $106.4M | ||
| Q3 25 | $43.9M | $-2.4M | ||
| Q2 25 | $34.6M | $98.4M | ||
| Q1 25 | $7.1M | $39.3M | ||
| Q4 24 | $76.6M | $56.4M | ||
| Q3 24 | $32.0M | $-34.1M | ||
| Q2 24 | $38.8M | $-116.3M | ||
| Q1 24 | $-34.1M | $-9.4M |
自由现金流率CSGSSSRM
| Q4 25 | 17.3% | 20.4% | ||
| Q3 25 | 14.5% | -0.6% | ||
| Q2 25 | 11.6% | 24.3% | ||
| Q1 25 | 2.4% | 12.4% | ||
| Q4 24 | 24.2% | 17.5% | ||
| Q3 24 | 10.8% | -13.2% | ||
| Q2 24 | 13.4% | -62.9% | ||
| Q1 24 | -11.6% | -4.1% |
资本支出强度CSGSSSRM
| Q4 25 | 1.1% | 12.6% | ||
| Q3 25 | 1.3% | 15.4% | ||
| Q2 25 | 0.9% | 14.7% | ||
| Q1 25 | 1.5% | 14.4% | ||
| Q4 24 | 1.9% | 11.9% | ||
| Q3 24 | 2.5% | 12.7% | ||
| Q2 24 | 1.5% | 20.7% | ||
| Q1 24 | 1.6% | 14.8% |
现金转化率CSGSSSRM
| Q4 25 | 8.46× | 0.95× | ||
| Q3 25 | 2.34× | 0.87× | ||
| Q2 25 | 3.04× | 1.75× | ||
| Q1 25 | 0.71× | 1.44× | ||
| Q4 24 | 2.39× | 17.10× | ||
| Q3 24 | 2.07× | -0.13× | ||
| Q2 24 | 3.12× | -8.06× | ||
| 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% |
SSRM
| Gold | $369.3M | 71% |
| Concentrate Sales | $124.4M | 24% |
| Other | $19.1M | 4% |
| Lead | $9.0M | 2% |
