vs
BGC Group, Inc.（BGC）与CoStar Group（CSGP）财务数据对比。点击上方公司名可切换其他公司
CoStar Group的季度营收约是BGC Group, Inc.的1.4倍（$899.9M vs $638.6M），CoStar Group净利率更高（5.2% vs 2.3%，领先2.9%），BGC Group, Inc.同比增速更快（34.4% vs 26.9%），BGC Group, Inc.自由现金流更多（$175.1M vs $101.3M），过去两年BGC Group, Inc.的营收复合增速更高（18.7% vs 17.1%）
BGC集团是一家总部位于纽约和伦敦的美国全球性金融服务企业，最初隶属于康托·菲茨杰拉德集团，2004年正式独立运营，业务范围覆盖全球金融市场相关服务领域。
CoStar Group是1987年成立的美国商业地产服务商，总部位于弗吉尼亚州阿灵顿，业务覆盖北美、欧洲地区，为商业地产行业提供信息、分析及营销解决方案，旗下运营CoStar线上数据库、新闻网站及Apartments.com、Homes.com等多个线上平台。
BGC vs CSGP — 直观对比
营收规模更大
CSGP
是对方的1.4倍
$638.6M
营收增速更快
BGC
高出7.5%
26.9%
净利率更高
CSGP
高出2.9%
2.3%
自由现金流更多
BGC
多$73.8M
$101.3M
两年增速更快
BGC
近两年复合增速
17.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $638.6M | $899.9M |
| 净利润 | $14.4M | $46.5M |
| 毛利率 | — | 78.6% |
| 营业利润率 | 3.9% | 5.5% |
| 净利率 | 2.3% | 5.2% |
| 营收同比 | 34.4% | 26.9% |
| 净利润同比 | -43.0% | -22.2% |
| 每股收益（稀释后） | $0.03 | $0.12 |
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BGCCSGP
| Q4 25 | $638.6M | $899.9M | ||
| Q3 25 | $620.8M | $833.6M | ||
| Q2 25 | $648.0M | $781.3M | ||
| Q1 25 | $534.6M | $732.2M | ||
| Q4 24 | $475.2M | $709.4M | ||
| Q3 24 | $448.9M | $692.6M | ||
| Q2 24 | $435.0M | $677.8M | ||
| Q1 24 | $453.6M | $656.4M |
净利润BGCCSGP
| Q4 25 | $14.4M | $46.5M | ||
| Q3 25 | $27.9M | $-30.9M | ||
| Q2 25 | $57.5M | $6.2M | ||
| Q1 25 | $55.2M | $-14.8M | ||
| Q4 24 | $25.2M | $59.8M | ||
| Q3 24 | $14.7M | $53.0M | ||
| Q2 24 | $37.8M | $19.2M | ||
| Q1 24 | $49.2M | $6.7M |
毛利率BGCCSGP
| Q4 25 | — | 78.6% | ||
| Q3 25 | — | 79.3% | ||
| Q2 25 | — | 78.5% | ||
| Q1 25 | — | 79.1% | ||
| Q4 24 | — | 80.1% | ||
| Q3 24 | — | 79.7% | ||
| Q2 24 | — | 80.0% | ||
| Q1 24 | — | 78.5% |
营业利润率BGCCSGP
| Q4 25 | 3.9% | 5.5% | ||
| Q3 25 | 5.4% | -6.1% | ||
| Q2 25 | 11.6% | -3.5% | ||
| Q1 25 | 15.0% | -5.8% | ||
| Q4 24 | 5.7% | 5.6% | ||
| Q3 24 | 4.4% | 3.4% | ||
| Q2 24 | 12.7% | -2.4% | ||
| Q1 24 | 15.7% | -6.5% |
净利率BGCCSGP
| Q4 25 | 2.3% | 5.2% | ||
| Q3 25 | 4.5% | -3.7% | ||
| Q2 25 | 8.9% | 0.8% | ||
| Q1 25 | 10.3% | -2.0% | ||
| Q4 24 | 5.3% | 8.4% | ||
| Q3 24 | 3.3% | 7.7% | ||
| Q2 24 | 8.7% | 2.8% | ||
| Q1 24 | 10.8% | 1.0% |
每股收益（稀释后）BGCCSGP
| Q4 25 | $0.03 | $0.12 | ||
| Q3 25 | $0.06 | $-0.07 | ||
| Q2 25 | $0.11 | $0.01 | ||
| Q1 25 | $0.11 | $-0.04 | ||
| Q4 24 | $0.04 | $0.14 | ||
| Q3 24 | $0.03 | $0.13 | ||
| Q2 24 | $0.08 | $0.05 | ||
| Q1 24 | $0.10 | $0.02 |
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 | $851.5M | $1.6B |
| 总债务越低越好 | $1.5B | $140.0M |
| 股东权益账面价值 | $972.5M | $8.3B |
| 总资产 | $4.4B | $10.5B |
| 负债/权益比越低杠杆越低 | 1.58× | 0.02× |
8季度趋势，按日历期对齐
现金及短期投资BGCCSGP
| Q4 25 | $851.5M | $1.6B | ||
| Q3 25 | $774.9M | $1.9B | ||
| Q2 25 | $827.8M | $3.6B | ||
| Q1 25 | $966.4M | $3.7B | ||
| Q4 24 | $711.6M | $4.7B | ||
| Q3 24 | $563.5M | — | ||
| Q2 24 | $571.7M | — | ||
| Q1 24 | $566.8M | — |
总债务BGCCSGP
| Q4 25 | $1.5B | $140.0M | ||
| Q3 25 | $1.8B | $1.0B | ||
| Q2 25 | $1.8B | $1.0B | ||
| Q1 25 | $1.1B | $1.0B | ||
| Q4 24 | $1.1B | $1.0B | ||
| Q3 24 | $1.4B | $1.0B | ||
| Q2 24 | $1.4B | $1.0B | ||
| Q1 24 | $945.0M | $1.0B |
股东权益BGCCSGP
| Q4 25 | $972.5M | $8.3B | ||
| Q3 25 | $965.3M | $8.6B | ||
| Q2 25 | $930.5M | $8.6B | ||
| Q1 25 | $963.8M | $8.6B | ||
| Q4 24 | $898.5M | $7.6B | ||
| Q3 24 | $860.1M | $7.5B | ||
| Q2 24 | $858.1M | $7.4B | ||
| Q1 24 | $912.1M | $7.3B |
总资产BGCCSGP
| Q4 25 | $4.4B | $10.5B | ||
| Q3 25 | $5.8B | $10.8B | ||
| Q2 25 | $4.9B | $10.5B | ||
| Q1 25 | $4.9B | $10.4B | ||
| Q4 24 | $3.6B | $9.3B | ||
| Q3 24 | $4.4B | $9.1B | ||
| Q2 24 | $4.3B | $9.1B | ||
| Q1 24 | $4.4B | $9.0B |
负债/权益比BGCCSGP
| Q4 25 | 1.58× | 0.02× | ||
| Q3 25 | 1.90× | 0.12× | ||
| Q2 25 | 1.97× | 0.12× | ||
| Q1 25 | 1.19× | 0.12× | ||
| Q4 24 | 1.27× | 0.13× | ||
| Q3 24 | 1.68× | 0.13× | ||
| Q2 24 | 1.68× | 0.14× | ||
| Q1 24 | 1.04× | 0.14× |
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 | $180.4M | $162.1M |
| 自由现金流经营现金流 - 资本支出 | $175.1M | $101.3M |
| 自由现金流率自由现金流/营收 | 27.4% | 11.3% |
| 资本支出强度资本支出/营收 | 0.8% | 6.8% |
| 现金转化率经营现金流/净利润 | 12.55× | 3.49× |
| 过去12个月自由现金流最近4个季度 | $372.9M | $123.0M |
8季度趋势，按日历期对齐
经营现金流BGCCSGP
| Q4 25 | $180.4M | $162.1M | ||
| Q3 25 | $141.9M | $68.2M | ||
| Q2 25 | $71.2M | $146.5M | ||
| Q1 25 | $839.0K | $53.2M | ||
| Q4 24 | $251.9M | $94.6M | ||
| Q3 24 | $88.3M | $100.3M | ||
| Q2 24 | $-53.0M | $58.1M | ||
| Q1 24 | $28.1M | $139.6M |
自由现金流BGCCSGP
| Q4 25 | $175.1M | $101.3M | ||
| Q3 25 | $137.2M | $-5.5M | ||
| Q2 25 | $65.0M | $27.7M | ||
| Q1 25 | $-4.4M | $-500.0K | ||
| Q4 24 | $245.6M | $25.2M | ||
| Q3 24 | $78.8M | $40.2M | ||
| Q2 24 | $-63.5M | $-14.7M | ||
| Q1 24 | $24.9M | $-237.1M |
自由现金流率BGCCSGP
| Q4 25 | 27.4% | 11.3% | ||
| Q3 25 | 22.1% | -0.7% | ||
| Q2 25 | 10.0% | 3.5% | ||
| Q1 25 | -0.8% | -0.1% | ||
| Q4 24 | 51.7% | 3.6% | ||
| Q3 24 | 17.5% | 5.8% | ||
| Q2 24 | -14.6% | -2.2% | ||
| Q1 24 | 5.5% | -36.1% |
资本支出强度BGCCSGP
| Q4 25 | 0.8% | 6.8% | ||
| Q3 25 | 0.8% | 8.8% | ||
| Q2 25 | 1.0% | 15.2% | ||
| Q1 25 | 1.0% | 7.3% | ||
| Q4 24 | 1.3% | 9.8% | ||
| Q3 24 | 2.1% | 8.7% | ||
| Q2 24 | 2.4% | 10.7% | ||
| Q1 24 | 0.7% | 57.4% |
现金转化率BGCCSGP
| Q4 25 | 12.55× | 3.49× | ||
| Q3 25 | 5.09× | — | ||
| Q2 25 | 1.24× | 23.63× | ||
| Q1 25 | 0.02× | — | ||
| Q4 24 | 9.99× | 1.58× | ||
| Q3 24 | 5.99× | 1.89× | ||
| Q2 24 | -1.40× | 3.03× | ||
| Q1 24 | 0.57× | 20.84× |
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
BGC
| Commissions | $590.2M | 92% |
| Data Software And Post Trade | $36.7M | 6% |
| Fees From Related Parties | $4.6M | 1% |
CSGP
| Co Star | $503.8M | 56% |
| Other | $283.0M | 31% |
| Loop Net | $94.7M | 11% |
