vs
南玻集团（CSGS）与LendingTree, Inc.（TREE）财务数据对比。点击上方公司名可切换其他公司
LendingTree, Inc.的季度营收约是南玻集团的1.0倍（$327.3M vs $323.1M），LendingTree, Inc.净利率更高（5.3% vs 2.2%，领先3.1%），LendingTree, Inc.同比增速更快（2.4% vs 2.0%），过去两年LendingTree, Inc.的营收复合增速更高（24.8% 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。
LendingTree, Inc.是1996年成立的在线借贷交易平台，总部位于北卡罗来纳州夏洛特。该平台对接潜在借款用户与多家贷款机构，可提供贷款、信用卡、存款账户、保险等多种金融产品服务，支持用户对比不同机构的利率与条款，还配套提供金融工具、贷款查询及借贷相关资讯服务。
CSGS vs TREE — 直观对比
营收规模更大
TREE
是对方的1.0倍
$323.1M
营收增速更快
TREE
高出0.3%
2.0%
净利率更高
TREE
高出3.1%
2.2%
两年增速更快
TREE
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $327.3M |
| 净利润 | $7.0M | $17.3M |
| 毛利率 | 50.0% | 100.0% |
| 营业利润率 | 9.0% | 9.5% |
| 净利率 | 2.2% | 5.3% |
| 营收同比 | 2.0% | 2.4% |
| 净利润同比 | -79.7% | 239.5% |
| 每股收益（稀释后） | $0.24 | $1.22 |
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CSGSTREE
| Q1 26 | — | $327.3M | ||
| Q4 25 | $323.1M | $319.7M | ||
| Q3 25 | $303.6M | $307.8M | ||
| Q2 25 | $297.1M | $250.1M | ||
| Q1 25 | $299.5M | $239.7M | ||
| Q4 24 | $316.7M | $261.5M | ||
| Q3 24 | $295.1M | $260.8M | ||
| Q2 24 | $290.3M | $210.1M |
净利润CSGSTREE
| Q1 26 | — | $17.3M | ||
| Q4 25 | $7.0M | $144.7M | ||
| Q3 25 | $20.5M | $10.2M | ||
| Q2 25 | $12.3M | $8.9M | ||
| Q1 25 | $16.1M | $-12.4M | ||
| Q4 24 | $34.5M | $7.5M | ||
| Q3 24 | $19.1M | $-58.0M | ||
| Q2 24 | $13.8M | $7.8M |
毛利率CSGSTREE
| Q1 26 | — | 100.0% | ||
| Q4 25 | 50.0% | 29.2% | ||
| Q3 25 | 48.1% | 30.7% | ||
| Q2 25 | 49.5% | 34.0% | ||
| Q1 25 | 48.4% | 32.9% | ||
| Q4 24 | 51.3% | 33.6% | ||
| Q3 24 | 49.4% | 30.2% | ||
| Q2 24 | 47.3% | 34.5% |
营业利润率CSGSTREE
| Q1 26 | — | 9.5% | ||
| Q4 25 | 9.0% | 7.0% | ||
| Q3 25 | 10.0% | 9.3% | ||
| Q2 25 | 10.0% | 8.4% | ||
| Q1 25 | 9.8% | -3.0% | ||
| Q4 24 | 13.4% | 6.9% | ||
| Q3 24 | 10.8% | 3.8% | ||
| Q2 24 | 8.8% | 4.6% |
净利率CSGSTREE
| Q1 26 | — | 5.3% | ||
| Q4 25 | 2.2% | 45.2% | ||
| Q3 25 | 6.7% | 3.3% | ||
| Q2 25 | 4.1% | 3.5% | ||
| Q1 25 | 5.4% | -5.2% | ||
| Q4 24 | 10.9% | 2.9% | ||
| Q3 24 | 6.5% | -22.2% | ||
| Q2 24 | 4.8% | 3.7% |
每股收益（稀释后）CSGSTREE
| Q1 26 | — | $1.22 | ||
| Q4 25 | $0.24 | $10.32 | ||
| Q3 25 | $0.73 | $0.73 | ||
| Q2 25 | $0.44 | $0.65 | ||
| Q1 25 | $0.57 | $-0.92 | ||
| Q4 24 | $1.20 | $0.54 | ||
| Q3 24 | $0.67 | $-4.34 | ||
| Q2 24 | $0.48 | $0.58 |
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 | $85.5M |
| 总债务越低越好 | $539.5M | $390.9M |
| 股东权益账面价值 | $283.7M | $304.7M |
| 总资产 | $1.5B | $863.9M |
| 负债/权益比越低杠杆越低 | 1.90× | 1.28× |
8季度趋势，按日历期对齐
现金及短期投资CSGSTREE
| Q1 26 | — | $85.5M | ||
| Q4 25 | $180.0M | $81.1M | ||
| Q3 25 | $158.4M | $68.6M | ||
| Q2 25 | $145.9M | $149.1M | ||
| Q1 25 | $136.0M | $126.4M | ||
| Q4 24 | $161.8M | $106.6M | ||
| Q3 24 | $118.4M | $96.8M | ||
| Q2 24 | $110.4M | $66.8M |
总债务CSGSTREE
| Q1 26 | — | $390.9M | ||
| Q4 25 | $539.5M | $387.7M | ||
| Q3 25 | $538.6M | $388.4M | ||
| Q2 25 | $537.8M | $385.1M | ||
| Q1 25 | $537.6M | $387.7M | ||
| Q4 24 | $538.5M | $344.1M | ||
| Q3 24 | $539.5M | $346.2M | ||
| Q2 24 | $540.5M | $467.7M |
股东权益CSGSTREE
| Q1 26 | — | $304.7M | ||
| Q4 25 | $283.7M | $286.8M | ||
| Q3 25 | $289.5M | $132.4M | ||
| Q2 25 | $290.7M | $118.1M | ||
| Q1 25 | $283.1M | $103.7M | ||
| Q4 24 | $282.6M | $108.8M | ||
| Q3 24 | $288.4M | $94.3M | ||
| Q2 24 | $273.3M | $145.8M |
总资产CSGSTREE
| Q1 26 | — | $863.9M | ||
| Q4 25 | $1.5B | $855.7M | ||
| Q3 25 | $1.5B | $759.9M | ||
| Q2 25 | $1.4B | $835.8M | ||
| Q1 25 | $1.4B | $777.1M | ||
| Q4 24 | $1.5B | $767.7M | ||
| Q3 24 | $1.4B | $787.2M | ||
| Q2 24 | $1.4B | $802.2M |
负债/权益比CSGSTREE
| Q1 26 | — | 1.28× | ||
| Q4 25 | 1.90× | 1.35× | ||
| Q3 25 | 1.86× | 2.93× | ||
| Q2 25 | 1.85× | 3.26× | ||
| Q1 25 | 1.90× | 3.74× | ||
| Q4 24 | 1.91× | 3.16× | ||
| Q3 24 | 1.87× | 3.67× | ||
| Q2 24 | 1.98× | 3.21× |
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 | — |
| 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% | 0.8% |
| 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CSGSTREE
| Q1 26 | — | — | ||
| Q4 25 | $59.2M | $73.1M | ||
| Q3 25 | $47.9M | $28.8M | ||
| Q2 25 | $37.3M | $28.0M | ||
| Q1 25 | $11.5M | $-210.0K | ||
| Q4 24 | $82.5M | $62.3M | ||
| Q3 24 | $39.5M | $45.3M | ||
| Q2 24 | $43.1M | $-4.9M |
自由现金流CSGSTREE
| Q1 26 | — | — | ||
| Q4 25 | $55.8M | $60.7M | ||
| Q3 25 | $43.9M | $25.6M | ||
| Q2 25 | $34.6M | $25.2M | ||
| Q1 25 | $7.1M | $-3.6M | ||
| Q4 24 | $76.6M | $51.0M | ||
| Q3 24 | $32.0M | $42.3M | ||
| Q2 24 | $38.8M | $-7.7M |
自由现金流率CSGSTREE
| Q1 26 | — | — | ||
| Q4 25 | 17.3% | 19.0% | ||
| Q3 25 | 14.5% | 8.3% | ||
| Q2 25 | 11.6% | 10.1% | ||
| Q1 25 | 2.4% | -1.5% | ||
| Q4 24 | 24.2% | 19.5% | ||
| Q3 24 | 10.8% | 16.2% | ||
| Q2 24 | 13.4% | -3.7% |
资本支出强度CSGSTREE
| Q1 26 | — | 0.8% | ||
| Q4 25 | 1.1% | 3.9% | ||
| Q3 25 | 1.3% | 1.1% | ||
| Q2 25 | 0.9% | 1.1% | ||
| Q1 25 | 1.5% | 1.4% | ||
| Q4 24 | 1.9% | 4.3% | ||
| Q3 24 | 2.5% | 1.1% | ||
| Q2 24 | 1.5% | 1.3% |
现金转化率CSGSTREE
| Q1 26 | — | — | ||
| Q4 25 | 8.46× | 0.51× | ||
| Q3 25 | 2.34× | 2.84× | ||
| Q2 25 | 3.04× | 3.15× | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 2.39× | 8.29× | ||
| Q3 24 | 2.07× | — | ||
| Q2 24 | 3.12× | -0.64× |
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% |
TREE
| Insurance segment | $221.9M | 68% |
| Consumer segment | $66.3M | 20% |
| Home segment | $39.1M | 12% |
