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南玻集团（CSGS）与WillScot Holdings Corp（WSC）财务数据对比。点击上方公司名可切换其他公司
WillScot Holdings Corp的季度营收约是南玻集团的1.8倍（$566.0M vs $323.1M），南玻集团净利率更高（2.2% vs -33.1%，领先35.3%），南玻集团同比增速更快（2.0% vs -6.1%），WillScot Holdings Corp自由现金流更多（$149.7M vs $55.8M），过去两年南玻集团的营收复合增速更高（4.6% vs -1.8%）
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。
WillScot Holdings Corp是北美领先的模块化空间及便携式存储服务供应商，服务覆盖建筑、商业开发、教育、医疗、政府项目、特殊活动等多个领域，为客户提供灵活可扩展的临时及半永久空间解决方案。
CSGS vs WSC — 直观对比
营收规模更大
WSC
是对方的1.8倍
$323.1M
营收增速更快
CSGS
高出8.1%
-6.1%
净利率更高
CSGS
高出35.3%
-33.1%
自由现金流更多
WSC
多$93.9M
$55.8M
两年增速更快
CSGS
近两年复合增速
-1.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $566.0M |
| 净利润 | $7.0M | $-187.3M |
| 毛利率 | 50.0% | 50.4% |
| 营业利润率 | 9.0% | -32.5% |
| 净利率 | 2.2% | -33.1% |
| 营收同比 | 2.0% | -6.1% |
| 净利润同比 | -79.7% | -310.0% |
| 每股收益（稀释后） | $0.24 | $-1.02 |
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CSGSWSC
| Q4 25 | $323.1M | $566.0M | ||
| Q3 25 | $303.6M | $566.8M | ||
| Q2 25 | $297.1M | $589.1M | ||
| Q1 25 | $299.5M | $559.6M | ||
| Q4 24 | $316.7M | $602.5M | ||
| Q3 24 | $295.1M | $601.4M | ||
| Q2 24 | $290.3M | $604.6M | ||
| Q1 24 | $295.1M | $587.2M |
净利润CSGSWSC
| Q4 25 | $7.0M | $-187.3M | ||
| Q3 25 | $20.5M | $43.3M | ||
| Q2 25 | $12.3M | $47.9M | ||
| Q1 25 | $16.1M | $43.1M | ||
| Q4 24 | $34.5M | $89.2M | ||
| Q3 24 | $19.1M | $-70.5M | ||
| Q2 24 | $13.8M | $-46.9M | ||
| Q1 24 | $19.5M | $56.2M |
毛利率CSGSWSC
| Q4 25 | 50.0% | 50.4% | ||
| Q3 25 | 48.1% | 49.7% | ||
| Q2 25 | 49.5% | 50.3% | ||
| Q1 25 | 48.4% | 53.7% | ||
| Q4 24 | 51.3% | 55.8% | ||
| Q3 24 | 49.4% | 53.5% | ||
| Q2 24 | 47.3% | 54.1% | ||
| Q1 24 | 46.5% | 54.0% |
营业利润率CSGSWSC
| Q4 25 | 9.0% | -32.5% | ||
| Q3 25 | 10.0% | 21.0% | ||
| Q2 25 | 10.0% | 21.5% | ||
| Q1 25 | 9.8% | 21.3% | ||
| Q4 24 | 13.4% | 28.9% | ||
| Q3 24 | 10.8% | -5.9% | ||
| Q2 24 | 8.8% | -0.9% | ||
| Q1 24 | 10.8% | 22.1% |
净利率CSGSWSC
| Q4 25 | 2.2% | -33.1% | ||
| Q3 25 | 6.7% | 7.6% | ||
| Q2 25 | 4.1% | 8.1% | ||
| Q1 25 | 5.4% | 7.7% | ||
| Q4 24 | 10.9% | 14.8% | ||
| Q3 24 | 6.5% | -11.7% | ||
| Q2 24 | 4.8% | -7.7% | ||
| Q1 24 | 6.6% | 9.6% |
每股收益（稀释后）CSGSWSC
| Q4 25 | $0.24 | $-1.02 | ||
| Q3 25 | $0.73 | $0.24 | ||
| Q2 25 | $0.44 | $0.26 | ||
| Q1 25 | $0.57 | $0.23 | ||
| Q4 24 | $1.20 | $0.48 | ||
| Q3 24 | $0.67 | $-0.37 | ||
| Q2 24 | $0.48 | $-0.25 | ||
| Q1 24 | $0.68 | $0.29 |
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 | $14.6M |
| 总债务越低越好 | $539.5M | $3.6B |
| 股东权益账面价值 | $283.7M | $856.3M |
| 总资产 | $1.5B | $5.8B |
| 负债/权益比越低杠杆越低 | 1.90× | 4.15× |
8季度趋势，按日历期对齐
现金及短期投资CSGSWSC
| Q4 25 | $180.0M | $14.6M | ||
| Q3 25 | $158.4M | $14.8M | ||
| Q2 25 | $145.9M | $12.8M | ||
| Q1 25 | $136.0M | $10.7M | ||
| Q4 24 | $161.8M | $9.0M | ||
| Q3 24 | $118.4M | $11.0M | ||
| Q2 24 | $110.4M | $5.9M | ||
| Q1 24 | $120.8M | $13.1M |
总债务CSGSWSC
| Q4 25 | $539.5M | $3.6B | ||
| Q3 25 | $538.6M | $3.6B | ||
| Q2 25 | $537.8M | $3.7B | ||
| Q1 25 | $537.6M | $3.6B | ||
| Q4 24 | $538.5M | $3.7B | ||
| Q3 24 | $539.5M | $3.6B | ||
| Q2 24 | $540.5M | $3.5B | ||
| Q1 24 | $541.5M | $3.5B |
股东权益CSGSWSC
| Q4 25 | $283.7M | $856.3M | ||
| Q3 25 | $289.5M | $1.1B | ||
| Q2 25 | $290.7M | $1.0B | ||
| Q1 25 | $283.1M | $1.0B | ||
| Q4 24 | $282.6M | $1.0B | ||
| Q3 24 | $288.4M | $1.1B | ||
| Q2 24 | $273.3M | $1.2B | ||
| Q1 24 | $269.3M | $1.3B |
总资产CSGSWSC
| Q4 25 | $1.5B | $5.8B | ||
| Q3 25 | $1.5B | $6.1B | ||
| Q2 25 | $1.4B | $6.1B | ||
| Q1 25 | $1.4B | $6.0B | ||
| Q4 24 | $1.5B | $6.0B | ||
| Q3 24 | $1.4B | $6.0B | ||
| Q2 24 | $1.4B | $6.0B | ||
| Q1 24 | $1.3B | $6.2B |
负债/权益比CSGSWSC
| Q4 25 | 1.90× | 4.15× | ||
| Q3 25 | 1.86× | 3.39× | ||
| Q2 25 | 1.85× | 3.55× | ||
| Q1 25 | 1.90× | 3.56× | ||
| Q4 24 | 1.91× | 3.62× | ||
| Q3 24 | 1.87× | 3.42× | ||
| Q2 24 | 1.98× | 2.88× | ||
| Q1 24 | 2.01× | 2.63× |
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 | $158.9M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $149.7M |
| 自由现金流率自由现金流/营收 | 17.3% | 26.5% |
| 资本支出强度资本支出/营收 | 1.1% | 1.6% |
| 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 | $737.7M |
8季度趋势，按日历期对齐
经营现金流CSGSWSC
| Q4 25 | $59.2M | $158.9M | ||
| Q3 25 | $47.9M | $191.2M | ||
| Q2 25 | $37.3M | $205.3M | ||
| Q1 25 | $11.5M | $206.6M | ||
| Q4 24 | $82.5M | $178.9M | ||
| Q3 24 | $39.5M | $-1.6M | ||
| Q2 24 | $43.1M | $175.6M | ||
| Q1 24 | $-29.4M | $208.7M |
自由现金流CSGSWSC
| Q4 25 | $55.8M | $149.7M | ||
| Q3 25 | $43.9M | $186.9M | ||
| Q2 25 | $34.6M | $199.0M | ||
| Q1 25 | $7.1M | $202.0M | ||
| Q4 24 | $76.6M | $176.6M | ||
| Q3 24 | $32.0M | $-4.9M | ||
| Q2 24 | $38.8M | $169.4M | ||
| Q1 24 | $-34.1M | $202.1M |
自由现金流率CSGSWSC
| Q4 25 | 17.3% | 26.5% | ||
| Q3 25 | 14.5% | 33.0% | ||
| Q2 25 | 11.6% | 33.8% | ||
| Q1 25 | 2.4% | 36.1% | ||
| Q4 24 | 24.2% | 29.3% | ||
| Q3 24 | 10.8% | -0.8% | ||
| Q2 24 | 13.4% | 28.0% | ||
| Q1 24 | -11.6% | 34.4% |
资本支出强度CSGSWSC
| Q4 25 | 1.1% | 1.6% | ||
| Q3 25 | 1.3% | 0.7% | ||
| Q2 25 | 0.9% | 1.1% | ||
| Q1 25 | 1.5% | 0.8% | ||
| Q4 24 | 1.9% | 0.4% | ||
| Q3 24 | 2.5% | 0.6% | ||
| Q2 24 | 1.5% | 1.0% | ||
| Q1 24 | 1.6% | 1.1% |
现金转化率CSGSWSC
| Q4 25 | 8.46× | — | ||
| Q3 25 | 2.34× | 4.41× | ||
| Q2 25 | 3.04× | 4.28× | ||
| Q1 25 | 0.71× | 4.80× | ||
| Q4 24 | 2.39× | 2.01× | ||
| Q3 24 | 2.07× | — | ||
| Q2 24 | 3.12× | — | ||
| Q1 24 | -1.51× | 3.71× |
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% |
WSC
| Modular Space Leasing | $249.8M | 44% |
| Value Added Product And Services | $101.0M | 18% |
| Portable Storage Leasing | $83.0M | 15% |
| Delivery Revenue | $48.2M | 9% |
| Installation Revenue | $45.0M | 8% |
| Rental Units | $19.7M | 3% |
| New Units | $15.5M | 3% |
| Value Added Services | $10.3M | 2% |
| Other Leasing Related Products And Services | $3.8M | 1% |
