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南玻集团（CSGS）与UL Solutions Inc.（ULS）财务数据对比。点击上方公司名可切换其他公司
UL Solutions Inc.的季度营收约是南玻集团的1.1倍（$340.0M vs $323.1M），南玻集团同比增速更快（2.0% vs -12.4%），过去两年南玻集团的营收复合增速更高（4.6% vs -31.8%）
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。
UL是总部位于美国伊利诺伊州诺斯布鲁克的全球私营安全领域企业，旗下设有三大机构：UL研究院、UL标准与倡议部门以及UL Solutions，为全球各行业客户提供标准制定、检测认证、风险管控等专业安全服务，保障产品与运营的合规性与安全性，助力企业可持续发展。
CSGS vs ULS — 直观对比
营收规模更大
ULS
是对方的1.1倍
$323.1M
营收增速更快
CSGS
高出14.4%
-12.4%
两年增速更快
CSGS
近两年复合增速
-31.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $340.0M |
| 净利润 | $7.0M | — |
| 毛利率 | 50.0% | — |
| 营业利润率 | 9.0% | 24.4% |
| 净利率 | 2.2% | — |
| 营收同比 | 2.0% | -12.4% |
| 净利润同比 | -79.7% | — |
| 每股收益（稀释后） | $0.24 | — |
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CSGSULS
| Q1 26 | — | $340.0M | ||
| Q4 25 | $323.1M | $789.0M | ||
| Q3 25 | $303.6M | $783.0M | ||
| Q2 25 | $297.1M | $776.0M | ||
| Q1 25 | $299.5M | $705.0M | ||
| Q4 24 | $316.7M | $739.0M | ||
| Q3 24 | $295.1M | $731.0M | ||
| Q2 24 | $290.3M | $730.0M |
净利润CSGSULS
| Q1 26 | — | — | ||
| Q4 25 | $7.0M | $67.0M | ||
| Q3 25 | $20.5M | $100.0M | ||
| Q2 25 | $12.3M | $91.0M | ||
| Q1 25 | $16.1M | $67.0M | ||
| Q4 24 | $34.5M | $81.0M | ||
| Q3 24 | $19.1M | $88.0M | ||
| Q2 24 | $13.8M | $101.0M |
毛利率CSGSULS
| Q1 26 | — | — | ||
| Q4 25 | 50.0% | 49.7% | ||
| Q3 25 | 48.1% | 50.3% | ||
| Q2 25 | 49.5% | 49.4% | ||
| Q1 25 | 48.4% | 48.4% | ||
| Q4 24 | 51.3% | 47.4% | ||
| Q3 24 | 49.4% | 49.0% | ||
| Q2 24 | 47.3% | 50.1% |
营业利润率CSGSULS
| Q1 26 | — | 24.4% | ||
| Q4 25 | 9.0% | 15.0% | ||
| Q3 25 | 10.0% | 19.9% | ||
| Q2 25 | 10.0% | 17.9% | ||
| Q1 25 | 9.8% | 15.5% | ||
| Q4 24 | 13.4% | 15.6% | ||
| Q3 24 | 10.8% | 17.8% | ||
| Q2 24 | 8.8% | 17.3% |
净利率CSGSULS
| Q1 26 | — | — | ||
| Q4 25 | 2.2% | 8.5% | ||
| Q3 25 | 6.7% | 12.8% | ||
| Q2 25 | 4.1% | 11.7% | ||
| Q1 25 | 5.4% | 9.5% | ||
| Q4 24 | 10.9% | 11.0% | ||
| Q3 24 | 6.5% | 12.0% | ||
| Q2 24 | 4.8% | 13.8% |
每股收益（稀释后）CSGSULS
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $0.33 | ||
| Q3 25 | $0.73 | $0.49 | ||
| Q2 25 | $0.44 | $0.45 | ||
| Q1 25 | $0.57 | $0.33 | ||
| Q4 24 | $1.20 | $0.40 | ||
| Q3 24 | $0.67 | $0.44 | ||
| Q2 24 | $0.48 | $0.50 |
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 | — |
| 总债务越低越好 | $539.5M | — |
| 股东权益账面价值 | $283.7M | — |
| 总资产 | $1.5B | — |
| 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CSGSULS
| Q1 26 | — | — | ||
| Q4 25 | $180.0M | $295.0M | ||
| Q3 25 | $158.4M | $255.0M | ||
| Q2 25 | $145.9M | $272.0M | ||
| Q1 25 | $136.0M | $267.0M | ||
| Q4 24 | $161.8M | $298.0M | ||
| Q3 24 | $118.4M | $327.0M | ||
| Q2 24 | $110.4M | $295.0M |
总债务CSGSULS
| Q1 26 | — | — | ||
| Q4 25 | $539.5M | $491.0M | ||
| Q3 25 | $538.6M | $544.0M | ||
| Q2 25 | $537.8M | $608.0M | ||
| Q1 25 | $537.6M | $653.0M | ||
| Q4 24 | $538.5M | $742.0M | ||
| Q3 24 | $539.5M | $797.0M | ||
| Q2 24 | $540.5M | $810.0M |
股东权益CSGSULS
| Q1 26 | — | — | ||
| Q4 25 | $283.7M | $1.3B | ||
| Q3 25 | $289.5M | $1.2B | ||
| Q2 25 | $290.7M | $1.1B | ||
| Q1 25 | $283.1M | $970.0M | ||
| Q4 24 | $282.6M | $904.0M | ||
| Q3 24 | $288.4M | $872.0M | ||
| Q2 24 | $273.3M | $769.0M |
总资产CSGSULS
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $2.9B | ||
| Q3 25 | $1.5B | $2.9B | ||
| Q2 25 | $1.4B | $2.9B | ||
| Q1 25 | $1.4B | $2.9B | ||
| Q4 24 | $1.5B | $2.8B | ||
| Q3 24 | $1.4B | $2.9B | ||
| Q2 24 | $1.4B | $2.7B |
负债/权益比CSGSULS
| Q1 26 | — | — | ||
| Q4 25 | 1.90× | 0.39× | ||
| Q3 25 | 1.86× | 0.46× | ||
| Q2 25 | 1.85× | 0.56× | ||
| Q1 25 | 1.90× | 0.67× | ||
| Q4 24 | 1.91× | 0.82× | ||
| Q3 24 | 1.87× | 0.91× | ||
| Q2 24 | 1.98× | 1.05× |
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% | — |
| 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CSGSULS
| Q1 26 | — | — | ||
| Q4 25 | $59.2M | $144.0M | ||
| Q3 25 | $47.9M | $155.0M | ||
| Q2 25 | $37.3M | $147.0M | ||
| Q1 25 | $11.5M | $154.0M | ||
| Q4 24 | $82.5M | $130.0M | ||
| Q3 24 | $39.5M | $150.0M | ||
| Q2 24 | $43.1M | $103.0M |
自由现金流CSGSULS
| Q1 26 | — | — | ||
| Q4 25 | $55.8M | $86.0M | ||
| Q3 25 | $43.9M | $109.0M | ||
| Q2 25 | $34.6M | $105.0M | ||
| Q1 25 | $7.1M | $103.0M | ||
| Q4 24 | $76.6M | $72.0M | ||
| Q3 24 | $32.0M | $84.0M | ||
| Q2 24 | $38.8M | $47.0M |
自由现金流率CSGSULS
| Q1 26 | — | — | ||
| Q4 25 | 17.3% | 10.9% | ||
| Q3 25 | 14.5% | 13.9% | ||
| Q2 25 | 11.6% | 13.5% | ||
| Q1 25 | 2.4% | 14.6% | ||
| Q4 24 | 24.2% | 9.7% | ||
| Q3 24 | 10.8% | 11.5% | ||
| Q2 24 | 13.4% | 6.4% |
资本支出强度CSGSULS
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | 7.4% | ||
| Q3 25 | 1.3% | 5.9% | ||
| Q2 25 | 0.9% | 5.4% | ||
| Q1 25 | 1.5% | 7.2% | ||
| Q4 24 | 1.9% | 7.8% | ||
| Q3 24 | 2.5% | 9.0% | ||
| Q2 24 | 1.5% | 7.7% |
现金转化率CSGSULS
| Q1 26 | — | — | ||
| Q4 25 | 8.46× | 2.15× | ||
| Q3 25 | 2.34× | 1.55× | ||
| Q2 25 | 3.04× | 1.62× | ||
| Q1 25 | 0.71× | 2.30× | ||
| Q4 24 | 2.39× | 1.60× | ||
| Q3 24 | 2.07× | 1.70× | ||
| Q2 24 | 3.12× | 1.02× |
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% |
ULS
暂无分部数据
