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南玻集团（CSGS）与Gentherm Inc（THRM）财务数据对比。点击上方公司名可切换其他公司
Gentherm Inc的季度营收约是南玻集团的1.2倍（$382.8M vs $323.1M），南玻集团净利率更高（2.2% vs 0.8%，领先1.4%），Gentherm Inc同比增速更快（8.5% vs 2.0%），南玻集团自由现金流更多（$55.8M vs $6.7M），过去两年南玻集团的营收复合增速更高（4.6% vs 3.7%）
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。
金瑟公司（原阿梅里贡）是一家美国热管理技术企业，为汽车行业研发出了全球首款热电调温座椅系统——气候控制座椅系统。该系统于1999年率先被福特汽车采纳，作为选装配置搭载在2000款林肯领航员上，如今已应用于福特、通用、丰田（雷克萨斯）、起亚、现代、日产（英菲尼迪）等车企的50余款车型。
CSGS vs THRM — 直观对比
营收规模更大
THRM
是对方的1.2倍
$323.1M
营收增速更快
THRM
高出6.4%
2.0%
净利率更高
CSGS
高出1.4%
0.8%
自由现金流更多
CSGS
多$49.1M
$6.7M
两年增速更快
CSGS
近两年复合增速
3.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $382.8M |
| 净利润 | $7.0M | $3.0M |
| 毛利率 | 50.0% | 23.7% |
| 营业利润率 | 9.0% | 4.6% |
| 净利率 | 2.2% | 0.8% |
| 营收同比 | 2.0% | 8.5% |
| 净利润同比 | -79.7% | -80.5% |
| 每股收益（稀释后） | $0.24 | $0.08 |
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CSGSTHRM
| Q4 25 | $323.1M | $382.8M | ||
| Q3 25 | $303.6M | $386.9M | ||
| Q2 25 | $297.1M | $375.1M | ||
| Q1 25 | $299.5M | $353.9M | ||
| Q4 24 | $316.7M | $352.9M | ||
| Q3 24 | $295.1M | $371.5M | ||
| Q2 24 | $290.3M | $375.7M | ||
| Q1 24 | $295.1M | $356.0M |
净利润CSGSTHRM
| Q4 25 | $7.0M | $3.0M | ||
| Q3 25 | $20.5M | $14.9M | ||
| Q2 25 | $12.3M | $477.0K | ||
| Q1 25 | $16.1M | $-128.0K | ||
| Q4 24 | $34.5M | $15.3M | ||
| Q3 24 | $19.1M | $16.0M | ||
| Q2 24 | $13.8M | $18.9M | ||
| Q1 24 | $19.5M | $14.8M |
毛利率CSGSTHRM
| Q4 25 | 50.0% | 23.7% | ||
| Q3 25 | 48.1% | 24.6% | ||
| Q2 25 | 49.5% | 23.9% | ||
| Q1 25 | 48.4% | 24.4% | ||
| Q4 24 | 51.3% | 24.4% | ||
| Q3 24 | 49.4% | 25.5% | ||
| Q2 24 | 47.3% | 25.7% | ||
| Q1 24 | 46.5% | 24.9% |
营业利润率CSGSTHRM
| Q4 25 | 9.0% | 4.6% | ||
| Q3 25 | 10.0% | 6.2% | ||
| Q2 25 | 10.0% | 6.4% | ||
| Q1 25 | 9.8% | 4.8% | ||
| Q4 24 | 13.4% | 6.7% | ||
| Q3 24 | 10.8% | 8.7% | ||
| Q2 24 | 8.8% | 8.8% | ||
| Q1 24 | 10.8% | 5.1% |
净利率CSGSTHRM
| Q4 25 | 2.2% | 0.8% | ||
| Q3 25 | 6.7% | 3.9% | ||
| Q2 25 | 4.1% | 0.1% | ||
| Q1 25 | 5.4% | -0.0% | ||
| Q4 24 | 10.9% | 4.3% | ||
| Q3 24 | 6.5% | 4.3% | ||
| Q2 24 | 4.8% | 5.0% | ||
| Q1 24 | 6.6% | 4.2% |
每股收益（稀释后）CSGSTHRM
| Q4 25 | $0.24 | $0.08 | ||
| Q3 25 | $0.73 | $0.49 | ||
| Q2 25 | $0.44 | $0.02 | ||
| Q1 25 | $0.57 | $0.00 | ||
| Q4 24 | $1.20 | $0.48 | ||
| Q3 24 | $0.67 | $0.51 | ||
| Q2 24 | $0.48 | $0.60 | ||
| Q1 24 | $0.68 | $0.47 |
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 | $160.8M |
| 总债务越低越好 | $539.5M | $189.0M |
| 股东权益账面价值 | $283.7M | $720.3M |
| 总资产 | $1.5B | $1.4B |
| 负债/权益比越低杠杆越低 | 1.90× | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资CSGSTHRM
| Q4 25 | $180.0M | $160.8M | ||
| Q3 25 | $158.4M | $154.3M | ||
| Q2 25 | $145.9M | $128.3M | ||
| Q1 25 | $136.0M | $163.1M | ||
| Q4 24 | $161.8M | $134.1M | ||
| Q3 24 | $118.4M | $150.6M | ||
| Q2 24 | $110.4M | $123.5M | ||
| Q1 24 | $120.8M | $125.1M |
总债务CSGSTHRM
| Q4 25 | $539.5M | $189.0M | ||
| Q3 25 | $538.6M | $189.0M | ||
| Q2 25 | $537.8M | $209.0M | ||
| Q1 25 | $537.6M | $262.0M | ||
| Q4 24 | $538.5M | $220.1M | ||
| Q3 24 | $539.5M | $222.1M | ||
| Q2 24 | $540.5M | $222.1M | ||
| Q1 24 | $541.5M | $222.2M |
股东权益CSGSTHRM
| Q4 25 | $283.7M | $720.3M | ||
| Q3 25 | $289.5M | $717.9M | ||
| Q2 25 | $290.7M | $699.7M | ||
| Q1 25 | $283.1M | $646.5M | ||
| Q4 24 | $282.6M | $616.9M | ||
| Q3 24 | $288.4M | $660.7M | ||
| Q2 24 | $273.3M | $640.3M | ||
| Q1 24 | $269.3M | $647.1M |
总资产CSGSTHRM
| Q4 25 | $1.5B | $1.4B | ||
| Q3 25 | $1.5B | $1.4B | ||
| Q2 25 | $1.4B | $1.4B | ||
| Q1 25 | $1.4B | $1.3B | ||
| Q4 24 | $1.5B | $1.2B | ||
| Q3 24 | $1.4B | $1.3B | ||
| Q2 24 | $1.4B | $1.2B | ||
| Q1 24 | $1.3B | $1.3B |
负债/权益比CSGSTHRM
| Q4 25 | 1.90× | 0.26× | ||
| Q3 25 | 1.86× | 0.26× | ||
| Q2 25 | 1.85× | 0.30× | ||
| Q1 25 | 1.90× | 0.41× | ||
| Q4 24 | 1.91× | 0.36× | ||
| Q3 24 | 1.87× | 0.34× | ||
| Q2 24 | 1.98× | 0.35× | ||
| Q1 24 | 2.01× | 0.34× |
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 | $29.0M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $6.7M |
| 自由现金流率自由现金流/营收 | 17.3% | 1.7% |
| 资本支出强度资本支出/营收 | 1.1% | 5.8% |
| 现金转化率经营现金流/净利润 | 8.46× | 9.70× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $61.1M |
8季度趋势，按日历期对齐
经营现金流CSGSTHRM
| Q4 25 | $59.2M | $29.0M | ||
| Q3 25 | $47.9M | $56.1M | ||
| Q2 25 | $37.3M | $45.0M | ||
| Q1 25 | $11.5M | $-13.3M | ||
| Q4 24 | $82.5M | $36.6M | ||
| Q3 24 | $39.5M | $46.3M | ||
| Q2 24 | $43.1M | $37.1M | ||
| Q1 24 | $-29.4M | $-10.3M |
自由现金流CSGSTHRM
| Q4 25 | $55.8M | $6.7M | ||
| Q3 25 | $43.9M | $46.5M | ||
| Q2 25 | $34.6M | $36.2M | ||
| Q1 25 | $7.1M | $-28.2M | ||
| Q4 24 | $76.6M | $13.6M | ||
| Q3 24 | $32.0M | $26.6M | ||
| Q2 24 | $38.8M | $17.8M | ||
| Q1 24 | $-34.1M | $-21.6M |
自由现金流率CSGSTHRM
| Q4 25 | 17.3% | 1.7% | ||
| Q3 25 | 14.5% | 12.0% | ||
| Q2 25 | 11.6% | 9.6% | ||
| Q1 25 | 2.4% | -8.0% | ||
| Q4 24 | 24.2% | 3.9% | ||
| Q3 24 | 10.8% | 7.2% | ||
| Q2 24 | 13.4% | 4.7% | ||
| Q1 24 | -11.6% | -6.1% |
资本支出强度CSGSTHRM
| Q4 25 | 1.1% | 5.8% | ||
| Q3 25 | 1.3% | 2.5% | ||
| Q2 25 | 0.9% | 2.4% | ||
| Q1 25 | 1.5% | 4.2% | ||
| Q4 24 | 1.9% | 6.5% | ||
| Q3 24 | 2.5% | 5.3% | ||
| Q2 24 | 1.5% | 5.2% | ||
| Q1 24 | 1.6% | 3.2% |
现金转化率CSGSTHRM
| Q4 25 | 8.46× | 9.70× | ||
| Q3 25 | 2.34× | 3.75× | ||
| Q2 25 | 3.04× | 94.43× | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 2.39× | 2.39× | ||
| Q3 24 | 2.07× | 2.90× | ||
| Q2 24 | 3.12× | 1.97× | ||
| Q1 24 | -1.51× | -0.70× |
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% |
THRM
| Climate Control Seats | $200.9M | 52% |
| Lumbar And Massage Comfort Solutions | $58.5M | 15% |
| Climate Control Interiors | $50.3M | 13% |
| Other Automotive | $27.6M | 7% |
| Valve Systems | $24.1M | 6% |
| Medical Segments | $13.9M | 4% |
| Climate And Comfort Electronics | $7.4M | 2% |
