vs
南玻集团（CSGS）与UDR, Inc.（UDR）财务数据对比。点击上方公司名可切换其他公司
UDR, Inc.的季度营收约是南玻集团的1.3倍（$425.8M vs $323.1M），UDR, Inc.净利率更高（44.6% vs 2.2%，领先42.4%），南玻集团同比增速更快（2.0% vs 0.9%），过去两年南玻集团的营收复合增速更高（4.6% vs 1.3%）
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。
UDR, Inc. 是一家总部位于美国的领先房地产投资信托基金，专注于持有、运营及翻新优质多户住宅公寓社区，业务覆盖美国主要都市圈，服务租客群体包括年轻职场人、家庭及中高收入住户。
CSGS vs UDR — 直观对比
营收规模更大
UDR
是对方的1.3倍
$323.1M
营收增速更快
CSGS
高出1.1%
0.9%
净利率更高
UDR
高出42.4%
2.2%
两年增速更快
CSGS
近两年复合增速
1.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $425.8M |
| 净利润 | $7.0M | $189.8M |
| 毛利率 | 50.0% | — |
| 营业利润率 | 9.0% | 54.0% |
| 净利率 | 2.2% | 44.6% |
| 营收同比 | 2.0% | 0.9% |
| 净利润同比 | -79.7% | 147.2% |
| 每股收益（稀释后） | $0.24 | $0.63 |
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CSGSUDR
| Q1 26 | — | $425.8M | ||
| Q4 25 | $323.1M | $433.1M | ||
| Q3 25 | $303.6M | $431.9M | ||
| Q2 25 | $297.1M | $425.4M | ||
| Q1 25 | $299.5M | $421.9M | ||
| Q4 24 | $316.7M | $422.7M | ||
| Q3 24 | $295.1M | $420.2M | ||
| Q2 24 | $290.3M | $415.3M |
净利润CSGSUDR
| Q1 26 | — | $189.8M | ||
| Q4 25 | $7.0M | $222.9M | ||
| Q3 25 | $20.5M | $40.4M | ||
| Q2 25 | $12.3M | $37.7M | ||
| Q1 25 | $16.1M | $76.7M | ||
| Q4 24 | $34.5M | $-5.0M | ||
| Q3 24 | $19.1M | $22.6M | ||
| Q2 24 | $13.8M | $28.9M |
毛利率CSGSUDR
| Q1 26 | — | — | ||
| 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% | — |
营业利润率CSGSUDR
| Q1 26 | — | 54.0% | ||
| Q4 25 | 9.0% | 64.1% | ||
| Q3 25 | 10.0% | 17.7% | ||
| Q2 25 | 10.0% | 18.2% | ||
| Q1 25 | 9.8% | 29.0% | ||
| Q4 24 | 13.4% | 15.7% | ||
| Q3 24 | 10.8% | 16.6% | ||
| Q2 24 | 8.8% | 16.5% |
净利率CSGSUDR
| Q1 26 | — | 44.6% | ||
| Q4 25 | 2.2% | 51.5% | ||
| Q3 25 | 6.7% | 9.4% | ||
| Q2 25 | 4.1% | 8.9% | ||
| Q1 25 | 5.4% | 18.2% | ||
| Q4 24 | 10.9% | -220.5% | ||
| Q3 24 | 6.5% | 5.4% | ||
| Q2 24 | 4.8% | 7.0% |
每股收益（稀释后）CSGSUDR
| Q1 26 | — | $0.63 | ||
| Q4 25 | $0.24 | $0.67 | ||
| Q3 25 | $0.73 | $0.12 | ||
| Q2 25 | $0.44 | $0.11 | ||
| Q1 25 | $0.57 | $0.23 | ||
| Q4 24 | $1.20 | $-0.01 | ||
| Q3 24 | $0.67 | $0.06 | ||
| Q2 24 | $0.48 | $0.08 |
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 | $1.3M |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | $3.3B |
| 总资产 | $1.5B | $10.3B |
| 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CSGSUDR
| Q1 26 | — | $1.3M | ||
| Q4 25 | $180.0M | $1.2M | ||
| Q3 25 | $158.4M | $1.2M | ||
| Q2 25 | $145.9M | $1.5M | ||
| Q1 25 | $136.0M | $1.3M | ||
| Q4 24 | $161.8M | $1.3M | ||
| Q3 24 | $118.4M | $2.3M | ||
| Q2 24 | $110.4M | $2.8M |
总债务CSGSUDR
| Q1 26 | — | — | ||
| Q4 25 | $539.5M | $5.8B | ||
| Q3 25 | $538.6M | $5.8B | ||
| Q2 25 | $537.8M | $5.8B | ||
| Q1 25 | $537.6M | $5.8B | ||
| Q4 24 | $538.5M | $5.8B | ||
| Q3 24 | $539.5M | $5.9B | ||
| Q2 24 | $540.5M | $5.8B |
股东权益CSGSUDR
| Q1 26 | — | $3.3B | ||
| Q4 25 | $283.7M | $3.3B | ||
| Q3 25 | $289.5M | $3.3B | ||
| Q2 25 | $290.7M | $3.3B | ||
| Q1 25 | $283.1M | $3.3B | ||
| Q4 24 | $282.6M | $3.4B | ||
| Q3 24 | $288.4M | $3.5B | ||
| Q2 24 | $273.3M | $3.7B |
总资产CSGSUDR
| Q1 26 | — | $10.3B | ||
| Q4 25 | $1.5B | $10.6B | ||
| Q3 25 | $1.5B | $10.6B | ||
| Q2 25 | $1.4B | $10.6B | ||
| Q1 25 | $1.4B | $10.7B | ||
| Q4 24 | $1.5B | $10.9B | ||
| Q3 24 | $1.4B | $11.1B | ||
| Q2 24 | $1.4B | $11.1B |
负债/权益比CSGSUDR
| Q1 26 | — | — | ||
| Q4 25 | 1.90× | 1.77× | ||
| Q3 25 | 1.86× | 1.78× | ||
| Q2 25 | 1.85× | 1.74× | ||
| Q1 25 | 1.90× | 1.74× | ||
| Q4 24 | 1.91× | 1.69× | ||
| Q3 24 | 1.87× | 1.67× | ||
| Q2 24 | 1.98× | 1.55× |
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% | 4.9% |
| 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CSGSUDR
| Q1 26 | — | — | ||
| Q4 25 | $59.2M | $902.9M | ||
| Q3 25 | $47.9M | $234.9M | ||
| Q2 25 | $37.3M | $250.3M | ||
| Q1 25 | $11.5M | $156.2M | ||
| Q4 24 | $82.5M | $876.8M | ||
| Q3 24 | $39.5M | $230.3M | ||
| Q2 24 | $43.1M | $238.5M |
自由现金流CSGSUDR
| Q1 26 | — | — | ||
| Q4 25 | $55.8M | $650.0M | ||
| Q3 25 | $43.9M | $164.6M | ||
| Q2 25 | $34.6M | $190.1M | ||
| Q1 25 | $7.1M | $103.2M | ||
| Q4 24 | $76.6M | $627.0M | ||
| Q3 24 | $32.0M | $161.3M | ||
| Q2 24 | $38.8M | $171.1M |
自由现金流率CSGSUDR
| Q1 26 | — | — | ||
| Q4 25 | 17.3% | 150.1% | ||
| Q3 25 | 14.5% | 38.1% | ||
| Q2 25 | 11.6% | 44.7% | ||
| Q1 25 | 2.4% | 24.5% | ||
| Q4 24 | 24.2% | 148.3% | ||
| Q3 24 | 10.8% | 38.4% | ||
| Q2 24 | 13.4% | 41.2% |
资本支出强度CSGSUDR
| Q1 26 | — | 4.9% | ||
| Q4 25 | 1.1% | 58.4% | ||
| Q3 25 | 1.3% | 16.3% | ||
| Q2 25 | 0.9% | 14.2% | ||
| Q1 25 | 1.5% | 12.6% | ||
| Q4 24 | 1.9% | 59.1% | ||
| Q3 24 | 2.5% | 16.4% | ||
| Q2 24 | 1.5% | 16.2% |
现金转化率CSGSUDR
| Q1 26 | — | — | ||
| Q4 25 | 8.46× | 4.05× | ||
| Q3 25 | 2.34× | 5.81× | ||
| Q2 25 | 3.04× | 6.64× | ||
| Q1 25 | 0.71× | 2.04× | ||
| Q4 24 | 2.39× | — | ||
| Q3 24 | 2.07× | 10.19× | ||
| Q2 24 | 3.12× | 8.26× |
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% |
UDR
| Rental income | $423.3M | 99% |
| Joint venture management and other fees | $2.5M | 1% |
