vs
南玻集团（CSGS）与ZIFF DAVIS, INC.（ZD）财务数据对比。点击上方公司名可切换其他公司
ZIFF DAVIS, INC.的季度营收约是南玻集团的1.3倍（$406.7M vs $323.1M），南玻集团净利率更高（2.2% vs 0.1%，领先2.1%），南玻集团同比增速更快（2.0% vs -1.5%），ZIFF DAVIS, INC.自由现金流更多（$157.8M vs $55.8M），过去两年ZIFF DAVIS, INC.的营收复合增速更高（13.7% 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。
齐夫戴维斯是美国知名数字媒体及互联网企业，由威廉·伯纳德·齐夫一世与伯纳德·乔治·戴维斯于1927年创立。公司核心业务涵盖科技、健康类媒体网站，线上购物相关服务，互联网接入服务，游戏娱乐品牌，以及网络安全和营销技术工具，早年曾以爱好者类杂志出版为主要业务。
CSGS vs ZD — 直观对比
营收规模更大
ZD
是对方的1.3倍
$323.1M
营收增速更快
CSGS
高出3.5%
-1.5%
净利率更高
CSGS
高出2.1%
0.1%
自由现金流更多
ZD
多$102.0M
$55.8M
两年增速更快
ZD
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $323.1M | $406.7M |
| 净利润 | $7.0M | $370.0K |
| 毛利率 | 50.0% | 85.9% |
| 营业利润率 | 9.0% | 21.2% |
| 净利率 | 2.2% | 0.1% |
| 营收同比 | 2.0% | -1.5% |
| 净利润同比 | -79.7% | -99.4% |
| 每股收益（稀释后） | $0.24 | $0.06 |
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CSGSZD
| Q4 25 | $323.1M | $406.7M | ||
| Q3 25 | $303.6M | $363.7M | ||
| Q2 25 | $297.1M | $352.2M | ||
| Q1 25 | $299.5M | $328.6M | ||
| Q4 24 | $316.7M | $412.8M | ||
| Q3 24 | $295.1M | $353.6M | ||
| Q2 24 | $290.3M | $320.8M | ||
| Q1 24 | $295.1M | $314.5M |
净利润CSGSZD
| Q4 25 | $7.0M | $370.0K | ||
| Q3 25 | $20.5M | $-3.6M | ||
| Q2 25 | $12.3M | $26.3M | ||
| Q1 25 | $16.1M | $24.2M | ||
| Q4 24 | $34.5M | $64.1M | ||
| Q3 24 | $19.1M | $-48.6M | ||
| Q2 24 | $13.8M | $36.9M | ||
| Q1 24 | $19.5M | $10.6M |
毛利率CSGSZD
| Q4 25 | 50.0% | 85.9% | ||
| Q3 25 | 48.1% | 85.4% | ||
| Q2 25 | 49.5% | 86.1% | ||
| Q1 25 | 48.4% | 85.6% | ||
| Q4 24 | 51.3% | 87.1% | ||
| Q3 24 | 49.4% | 85.5% | ||
| Q2 24 | 47.3% | 84.4% | ||
| Q1 24 | 46.5% | 85.4% |
营业利润率CSGSZD
| Q4 25 | 9.0% | 21.2% | ||
| Q3 25 | 10.0% | 7.8% | ||
| Q2 25 | 10.0% | 9.5% | ||
| Q1 25 | 9.8% | 10.7% | ||
| Q4 24 | 13.4% | 19.0% | ||
| Q3 24 | 10.8% | -8.3% | ||
| Q2 24 | 8.8% | 8.9% | ||
| Q1 24 | 10.8% | 11.4% |
净利率CSGSZD
| Q4 25 | 2.2% | 0.1% | ||
| Q3 25 | 6.7% | -1.0% | ||
| Q2 25 | 4.1% | 7.5% | ||
| Q1 25 | 5.4% | 7.4% | ||
| Q4 24 | 10.9% | 15.5% | ||
| Q3 24 | 6.5% | -13.7% | ||
| Q2 24 | 4.8% | 11.5% | ||
| Q1 24 | 6.6% | 3.4% |
每股收益（稀释后）CSGSZD
| Q4 25 | $0.24 | $0.06 | ||
| Q3 25 | $0.73 | $-0.09 | ||
| Q2 25 | $0.44 | $0.62 | ||
| Q1 25 | $0.57 | $0.56 | ||
| Q4 24 | $1.20 | $1.53 | ||
| Q3 24 | $0.67 | $-1.11 | ||
| Q2 24 | $0.48 | $0.77 | ||
| Q1 24 | $0.68 | $0.23 |
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 | $607.0M |
| 总债务越低越好 | $539.5M | $866.5M |
| 股东权益账面价值 | $283.7M | $1.8B |
| 总资产 | $1.5B | $3.7B |
| 负债/权益比越低杠杆越低 | 1.90× | 0.49× |
8季度趋势，按日历期对齐
现金及短期投资CSGSZD
| Q4 25 | $180.0M | $607.0M | ||
| Q3 25 | $158.4M | $503.4M | ||
| Q2 25 | $145.9M | $457.3M | ||
| Q1 25 | $136.0M | $431.0M | ||
| Q4 24 | $161.8M | $505.9M | ||
| Q3 24 | $118.4M | $386.1M | ||
| Q2 24 | $110.4M | $687.2M | ||
| Q1 24 | $120.8M | $751.2M |
总债务CSGSZD
| Q4 25 | $539.5M | $866.5M | ||
| Q3 25 | $538.6M | — | ||
| Q2 25 | $537.8M | — | ||
| Q1 25 | $537.6M | — | ||
| Q4 24 | $538.5M | $864.3M | ||
| Q3 24 | $539.5M | — | ||
| Q2 24 | $540.5M | — | ||
| Q1 24 | $541.5M | — |
股东权益CSGSZD
| Q4 25 | $283.7M | $1.8B | ||
| Q3 25 | $289.5M | $1.8B | ||
| Q2 25 | $290.7M | $1.8B | ||
| Q1 25 | $283.1M | $1.8B | ||
| Q4 24 | $282.6M | $1.8B | ||
| Q3 24 | $288.4M | $1.8B | ||
| Q2 24 | $273.3M | $1.9B | ||
| Q1 24 | $269.3M | $1.9B |
总资产CSGSZD
| Q4 25 | $1.5B | $3.7B | ||
| Q3 25 | $1.5B | $3.5B | ||
| Q2 25 | $1.4B | $3.5B | ||
| Q1 25 | $1.4B | $3.5B | ||
| Q4 24 | $1.5B | $3.7B | ||
| Q3 24 | $1.4B | $3.4B | ||
| Q2 24 | $1.4B | $3.7B | ||
| Q1 24 | $1.3B | $3.7B |
负债/权益比CSGSZD
| Q4 25 | 1.90× | 0.49× | ||
| Q3 25 | 1.86× | — | ||
| Q2 25 | 1.85× | — | ||
| Q1 25 | 1.90× | — | ||
| Q4 24 | 1.91× | 0.48× | ||
| 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 | $191.1M |
| 自由现金流经营现金流 - 资本支出 | $55.8M | $157.8M |
| 自由现金流率自由现金流/营收 | 17.3% | 38.8% |
| 资本支出强度资本支出/营收 | 1.1% | 8.2% |
| 现金转化率经营现金流/净利润 | 8.46× | 516.44× |
| 过去12个月自由现金流最近4个季度 | $141.4M | $287.9M |
8季度趋势，按日历期对齐
经营现金流CSGSZD
| Q4 25 | $59.2M | $191.1M | ||
| Q3 25 | $47.9M | $138.3M | ||
| Q2 25 | $37.3M | $57.1M | ||
| Q1 25 | $11.5M | $20.6M | ||
| Q4 24 | $82.5M | $158.2M | ||
| Q3 24 | $39.5M | $106.0M | ||
| Q2 24 | $43.1M | $50.6M | ||
| Q1 24 | $-29.4M | $75.6M |
自由现金流CSGSZD
| Q4 25 | $55.8M | $157.8M | ||
| Q3 25 | $43.9M | $108.2M | ||
| Q2 25 | $34.6M | $26.9M | ||
| Q1 25 | $7.1M | $-5.0M | ||
| Q4 24 | $76.6M | $131.1M | ||
| Q3 24 | $32.0M | $80.1M | ||
| Q2 24 | $38.8M | $25.1M | ||
| Q1 24 | $-34.1M | $47.4M |
自由现金流率CSGSZD
| Q4 25 | 17.3% | 38.8% | ||
| Q3 25 | 14.5% | 29.7% | ||
| Q2 25 | 11.6% | 7.6% | ||
| Q1 25 | 2.4% | -1.5% | ||
| Q4 24 | 24.2% | 31.8% | ||
| Q3 24 | 10.8% | 22.7% | ||
| Q2 24 | 13.4% | 7.8% | ||
| Q1 24 | -11.6% | 15.1% |
资本支出强度CSGSZD
| Q4 25 | 1.1% | 8.2% | ||
| Q3 25 | 1.3% | 8.3% | ||
| Q2 25 | 0.9% | 8.6% | ||
| Q1 25 | 1.5% | 7.8% | ||
| Q4 24 | 1.9% | 6.6% | ||
| Q3 24 | 2.5% | 7.3% | ||
| Q2 24 | 1.5% | 8.0% | ||
| Q1 24 | 1.6% | 8.9% |
现金转化率CSGSZD
| Q4 25 | 8.46× | 516.44× | ||
| Q3 25 | 2.34× | — | ||
| Q2 25 | 3.04× | 2.17× | ||
| Q1 25 | 0.71× | 0.85× | ||
| Q4 24 | 2.39× | 2.47× | ||
| Q3 24 | 2.07× | — | ||
| Q2 24 | 3.12× | 1.37× | ||
| Q1 24 | -1.51× | 7.11× |
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% |
ZD
| Health And Wellness | $114.8M | 28% |
| Technology And Shopping | $108.9M | 27% |
| Cybersecurity And Martech Segment | $70.9M | 17% |
| Connectivity | $60.3M | 15% |
| Gaming And Entertainment | $51.7M | 13% |
| Subscription And Licensing | $2.9M | 1% |
