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南玻集团（CSGS）与Westrock Coffee Co（WEST）财务数据对比。点击上方公司名可切换其他公司
Westrock Coffee Co的季度营收约是南玻集团的1.1倍（$339.5M vs $323.1M），南玻集团净利率更高（2.2% vs -6.6%，领先8.8%），Westrock Coffee Co同比增速更快（48.3% vs 2.0%），南玻集团自由现金流更多（$55.8M vs $27.8M），过去两年Westrock Coffee Co的营收复合增速更高（32.8% 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。
Westrock Coffee Co是一家全球化综合咖啡及饮品解决方案供应商，业务覆盖咖啡、茶与功能性饮品的采购、烘焙、生产及分销，为北美及全球其他区域的零售、餐饮和商业客户提供定制化产品及配套服务。
CSGS vs WEST — 直观对比
营收规模更大
WEST
是对方的1.1倍
$323.1M
营收增速更快
WEST
高出46.2%
2.0%
净利率更高
CSGS
高出8.8%
-6.6%
自由现金流更多
CSGS
多$28.0M
$27.8M
两年增速更快
WEST
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $339.5M |
| 净利润 | $7.0M | $-22.6M |
| 毛利率 | 50.0% | 11.5% |
| 营业利润率 | 9.0% | -2.6% |
| 净利率 | 2.2% | -6.6% |
| 营收同比 | 2.0% | 48.3% |
| 净利润同比 | -79.7% | 8.3% |
| 每股收益（稀释后） | $0.24 | $-0.22 |
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CSGSWEST
| Q4 25 | $323.1M | $339.5M | ||
| Q3 25 | $303.6M | $354.8M | ||
| Q2 25 | $297.1M | $280.9M | ||
| Q1 25 | $299.5M | $213.8M | ||
| Q4 24 | $316.7M | $229.0M | ||
| Q3 24 | $295.1M | $220.9M | ||
| Q2 24 | $290.3M | $208.4M | ||
| Q1 24 | $295.1M | $192.5M |
净利润CSGSWEST
| Q4 25 | $7.0M | $-22.6M | ||
| Q3 25 | $20.5M | $-19.1M | ||
| Q2 25 | $12.3M | $-21.6M | ||
| Q1 25 | $16.1M | $-27.2M | ||
| Q4 24 | $34.5M | $-24.6M | ||
| Q3 24 | $19.1M | $-14.3M | ||
| Q2 24 | $13.8M | $-17.8M | ||
| Q1 24 | $19.5M | $-23.7M |
毛利率CSGSWEST
| Q4 25 | 50.0% | 11.5% | ||
| Q3 25 | 48.1% | 11.7% | ||
| Q2 25 | 49.5% | 14.7% | ||
| Q1 25 | 48.4% | 13.6% | ||
| Q4 24 | 51.3% | 16.6% | ||
| Q3 24 | 49.4% | 16.8% | ||
| Q2 24 | 47.3% | 19.9% | ||
| Q1 24 | 46.5% | 19.4% |
营业利润率CSGSWEST
| Q4 25 | 9.0% | -2.6% | ||
| Q3 25 | 10.0% | -2.4% | ||
| Q2 25 | 10.0% | -5.3% | ||
| Q1 25 | 9.8% | -6.1% | ||
| Q4 24 | 13.4% | -4.3% | ||
| Q3 24 | 10.8% | -5.8% | ||
| Q2 24 | 8.8% | -7.9% | ||
| Q1 24 | 10.8% | -5.3% |
净利率CSGSWEST
| Q4 25 | 2.2% | -6.6% | ||
| Q3 25 | 6.7% | -5.4% | ||
| Q2 25 | 4.1% | -7.7% | ||
| Q1 25 | 5.4% | -12.7% | ||
| Q4 24 | 10.9% | -10.7% | ||
| Q3 24 | 6.5% | -6.5% | ||
| Q2 24 | 4.8% | -8.5% | ||
| Q1 24 | 6.6% | -12.3% |
每股收益（稀释后）CSGSWEST
| Q4 25 | $0.24 | $-0.22 | ||
| Q3 25 | $0.73 | $-0.20 | ||
| Q2 25 | $0.44 | $-0.23 | ||
| Q1 25 | $0.57 | $-0.29 | ||
| Q4 24 | $1.20 | $-0.26 | ||
| Q3 24 | $0.67 | $-0.16 | ||
| Q2 24 | $0.48 | $-0.20 | ||
| Q1 24 | $0.68 | $-0.27 |
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 | $49.9M |
| 总债务越低越好 | $539.5M | $444.1M |
| 股东权益账面价值 | $283.7M | $-1.9M |
| 总资产 | $1.5B | $1.2B |
| 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CSGSWEST
| Q4 25 | $180.0M | $49.9M | ||
| Q3 25 | $158.4M | $34.0M | ||
| Q2 25 | $145.9M | $44.0M | ||
| Q1 25 | $136.0M | $33.1M | ||
| Q4 24 | $161.8M | $26.2M | ||
| Q3 24 | $118.4M | $22.4M | ||
| Q2 24 | $110.4M | $24.3M | ||
| Q1 24 | $120.8M | $12.6M |
总债务CSGSWEST
| Q4 25 | $539.5M | $444.1M | ||
| Q3 25 | $538.6M | — | ||
| Q2 25 | $537.8M | — | ||
| Q1 25 | $537.6M | — | ||
| Q4 24 | $538.5M | $393.1M | ||
| Q3 24 | $539.5M | — | ||
| Q2 24 | $540.5M | — | ||
| Q1 24 | $541.5M | — |
股东权益CSGSWEST
| Q4 25 | $283.7M | $-1.9M | ||
| Q3 25 | $289.5M | $11.4M | ||
| Q2 25 | $290.7M | $18.2M | ||
| Q1 25 | $283.1M | $71.4M | ||
| Q4 24 | $282.6M | $97.5M | ||
| Q3 24 | $288.4M | $110.3M | ||
| Q2 24 | $273.3M | $81.5M | ||
| Q1 24 | $269.3M | $91.7M |
总资产CSGSWEST
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | $1.4B | $1.2B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.5B | $1.1B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.4B | $1.1B | ||
| Q1 24 | $1.3B | $983.3M |
负债/权益比CSGSWEST
| Q4 25 | 1.90× | — | ||
| Q3 25 | 1.86× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 1.91× | 4.03× | ||
| Q3 24 | 1.87× | — | ||
| Q2 24 | 1.98× | — | ||
| Q1 24 | 2.01× | — |
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 | $36.7M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $27.8M |
| 自由现金流率自由现金流/营收 | 17.3% | 8.2% |
| 资本支出强度资本支出/营收 | 1.1% | 2.6% |
| 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 | $-107.8M |
8季度趋势，按日历期对齐
经营现金流CSGSWEST
| Q4 25 | $59.2M | $36.7M | ||
| Q3 25 | $47.9M | $-26.6M | ||
| Q2 25 | $37.3M | $-7.0M | ||
| Q1 25 | $11.5M | $-22.1M | ||
| Q4 24 | $82.5M | $2.8M | ||
| Q3 24 | $39.5M | $-332.0K | ||
| Q2 24 | $43.1M | $-23.7M | ||
| Q1 24 | $-29.4M | $8.0M |
自由现金流CSGSWEST
| Q4 25 | $55.8M | $27.8M | ||
| Q3 25 | $43.9M | $-44.7M | ||
| Q2 25 | $34.6M | $-27.5M | ||
| Q1 25 | $7.1M | $-63.4M | ||
| Q4 24 | $76.6M | $-15.4M | ||
| Q3 24 | $32.0M | $-36.7M | ||
| Q2 24 | $38.8M | $-59.9M | ||
| Q1 24 | $-34.1M | $-60.9M |
自由现金流率CSGSWEST
| Q4 25 | 17.3% | 8.2% | ||
| Q3 25 | 14.5% | -12.6% | ||
| Q2 25 | 11.6% | -9.8% | ||
| Q1 25 | 2.4% | -29.7% | ||
| Q4 24 | 24.2% | -6.7% | ||
| Q3 24 | 10.8% | -16.6% | ||
| Q2 24 | 13.4% | -28.7% | ||
| Q1 24 | -11.6% | -31.7% |
资本支出强度CSGSWEST
| Q4 25 | 1.1% | 2.6% | ||
| Q3 25 | 1.3% | 5.1% | ||
| Q2 25 | 0.9% | 7.3% | ||
| Q1 25 | 1.5% | 19.3% | ||
| Q4 24 | 1.9% | 7.9% | ||
| Q3 24 | 2.5% | 16.5% | ||
| Q2 24 | 1.5% | 17.4% | ||
| Q1 24 | 1.6% | 35.8% |
现金转化率CSGSWEST
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | — | ||
| Q2 25 | 3.04× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 2.39× | — | ||
| Q3 24 | 2.07× | — | ||
| Q2 24 | 3.12× | — | ||
| 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% |
WEST
| Coffee And Tea | $202.6M | 60% |
| Flavors Extracts And Ingredients | $69.6M | 21% |
| Sustainable Sourcing And Traceability Segments | $66.9M | 20% |
