vs
COHEN & STEERS, INC.（CNS）与德太投资（TPG）财务数据对比。点击上方公司名可切换其他公司
德太投资的季度营收约是COHEN & STEERS, INC.的5.0倍（$715.1M vs $143.8M），COHEN & STEERS, INC.净利率更高（24.3% vs 10.8%，领先13.5%），德太投资同比增速更快（35.6% vs 2.9%），过去两年德太投资的营收复合增速更高（18.1% vs 8.3%）
科恩斯蒂尔是一家美国投资管理企业，专注于通过房地产投资信托（REIT）开展不动产证券投资，同时布局优先证券相关的另类收益类投资业务，在全球不动产和另类收益投资领域拥有专业的运营经验。
TPG Inc.（原称德州太平洋集团、TPG Capital）是总部位于美国得克萨斯州沃斯堡的私募股权投资机构，旗下管理的基金覆盖成长资本、风险投资、公开股权、债权投资等品类，投资领域包含消费零售、传媒电信、工业、科技、旅游休闲、医疗健康等多个赛道。
CNS vs TPG — 直观对比
营收规模更大
TPG
是对方的5.0倍
$143.8M
营收增速更快
TPG
高出32.8%
2.9%
净利率更高
CNS
高出13.5%
10.8%
两年增速更快
TPG
近两年复合增速
8.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $143.8M | $715.1M |
| 净利润 | $34.9M | $77.1M |
| 毛利率 | — | — |
| 营业利润率 | 28.0% | — |
| 净利率 | 24.3% | 10.8% |
| 营收同比 | 2.9% | 35.6% |
| 净利润同比 | -23.9% | 494.1% |
| 每股收益（稀释后） | $0.67 | $0.30 |
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CNSTPG
| Q4 25 | $143.8M | $715.1M | ||
| Q3 25 | $141.7M | $596.5M | ||
| Q2 25 | $136.1M | $569.1M | ||
| Q1 25 | $134.5M | $543.5M | ||
| Q4 24 | $139.8M | $527.2M | ||
| Q3 24 | $133.2M | $524.7M | ||
| Q2 24 | $121.7M | $522.8M | ||
| Q1 24 | $122.7M | $512.3M |
净利润CNSTPG
| Q4 25 | $34.9M | $77.1M | ||
| Q3 25 | $41.7M | $67.1M | ||
| Q2 25 | $36.8M | $14.9M | ||
| Q1 25 | $39.8M | $25.4M | ||
| Q4 24 | $45.8M | $13.0M | ||
| Q3 24 | $39.7M | $9.0M | ||
| Q2 24 | $31.8M | $-14.0M | ||
| Q1 24 | $34.0M | $15.5M |
营业利润率CNSTPG
| Q4 25 | 28.0% | — | ||
| Q3 25 | 34.5% | — | ||
| Q2 25 | 31.8% | — | ||
| Q1 25 | 33.6% | — | ||
| Q4 24 | 35.3% | — | ||
| Q3 24 | 33.7% | — | ||
| Q2 24 | 31.5% | — | ||
| Q1 24 | 32.8% | — |
净利率CNSTPG
| Q4 25 | 24.3% | 10.8% | ||
| Q3 25 | 29.4% | 11.3% | ||
| Q2 25 | 27.1% | 2.6% | ||
| Q1 25 | 29.6% | 4.7% | ||
| Q4 24 | 32.8% | 2.5% | ||
| Q3 24 | 29.8% | 1.7% | ||
| Q2 24 | 26.1% | -2.7% | ||
| Q1 24 | 27.7% | 3.0% |
每股收益（稀释后）CNSTPG
| Q4 25 | $0.67 | $0.30 | ||
| Q3 25 | $0.81 | $0.20 | ||
| Q2 25 | $0.72 | $-0.05 | ||
| Q1 25 | $0.77 | $0.00 | ||
| Q4 24 | $0.89 | $-0.04 | ||
| Q3 24 | $0.77 | $-0.08 | ||
| Q2 24 | $0.63 | $-0.19 | ||
| Q1 24 | $0.68 | $-0.11 |
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 | $145.5M | $826.1M |
| 总债务越低越好 | — | $1.7B |
| 股东权益账面价值 | $562.0M | $4.1B |
| 总资产 | $876.7M | $13.5B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
现金及短期投资CNSTPG
| Q4 25 | $145.5M | $826.1M | ||
| Q3 25 | $98.1M | $1.1B | ||
| Q2 25 | $95.4M | $1.1B | ||
| Q1 25 | $65.2M | $822.0M | ||
| Q4 24 | $183.0M | $808.0M | ||
| Q3 24 | $106.5M | $1.2B | ||
| Q2 24 | $122.0M | $1.1B | ||
| Q1 24 | $99.5M | $1.1B |
总债务CNSTPG
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
股东权益CNSTPG
| Q4 25 | $562.0M | $4.1B | ||
| Q3 25 | $550.3M | $3.8B | ||
| Q2 25 | $528.5M | $3.6B | ||
| Q1 25 | $507.7M | $3.5B | ||
| Q4 24 | $511.7M | $3.6B | ||
| Q3 24 | $491.0M | $3.4B | ||
| Q2 24 | $463.2M | $3.3B | ||
| Q1 24 | $378.9M | $3.3B |
总资产CNSTPG
| Q4 25 | $876.7M | $13.5B | ||
| Q3 25 | $801.6M | $13.0B | ||
| Q2 25 | $751.0M | $12.0B | ||
| Q1 25 | $834.9M | $11.3B | ||
| Q4 24 | $812.4M | $10.5B | ||
| Q3 24 | $727.8M | $10.5B | ||
| Q2 24 | $784.1M | $10.1B | ||
| Q1 24 | $680.7M | $9.9B |
负债/权益比CNSTPG
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.45× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | — | 0.37× | ||
| Q1 24 | — | 0.37× |
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 | $-120.4M | $-43.7M |
| 自由现金流经营现金流 - 资本支出 | $-126.4M | — |
| 自由现金流率自由现金流/营收 | -87.9% | — |
| 资本支出强度资本支出/营收 | 4.2% | — |
| 现金转化率经营现金流/净利润 | -3.45× | -0.57× |
| 过去12个月自由现金流最近4个季度 | $-253.6M | — |
8季度趋势，按日历期对齐
经营现金流CNSTPG
| Q4 25 | $-120.4M | $-43.7M | ||
| Q3 25 | $55.1M | $492.0M | ||
| Q2 25 | $-67.6M | $385.9M | ||
| Q1 25 | $-108.9M | $198.2M | ||
| Q4 24 | $96.7M | $-188.1M | ||
| Q3 24 | $25.6M | $68.9M | ||
| Q2 24 | $31.4M | $214.6M | ||
| Q1 24 | $4.9M | $436.7M |
自由现金流CNSTPG
| Q4 25 | $-126.4M | — | ||
| Q3 25 | $52.6M | — | ||
| Q2 25 | $-69.8M | — | ||
| Q1 25 | $-110.0M | — | ||
| Q4 24 | $85.0M | — | ||
| Q3 24 | $24.2M | — | ||
| Q2 24 | $27.1M | — | ||
| Q1 24 | $537.0K | — |
自由现金流率CNSTPG
| Q4 25 | -87.9% | — | ||
| Q3 25 | 37.1% | — | ||
| Q2 25 | -51.3% | — | ||
| Q1 25 | -81.8% | — | ||
| Q4 24 | 60.8% | — | ||
| Q3 24 | 18.2% | — | ||
| Q2 24 | 22.3% | — | ||
| Q1 24 | 0.4% | — |
资本支出强度CNSTPG
| Q4 25 | 4.2% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 1.6% | — | ||
| Q1 25 | 0.8% | — | ||
| Q4 24 | 8.3% | — | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 3.5% | — | ||
| Q1 24 | 3.5% | — |
现金转化率CNSTPG
| Q4 25 | -3.45× | -0.57× | ||
| Q3 25 | 1.32× | 7.33× | ||
| Q2 25 | -1.84× | 25.83× | ||
| Q1 25 | -2.74× | 7.80× | ||
| Q4 24 | 2.11× | -14.49× | ||
| Q3 24 | 0.65× | 7.69× | ||
| Q2 24 | 0.99× | — | ||
| Q1 24 | 0.14× | 28.14× |
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
CNS
暂无分部数据
TPG
| Management Fees | $484.4M | 68% |
| Transaction Fees | $118.6M | 17% |
| Expense Reimbursements And Other | $76.3M | 11% |
| Incentive Fees | $29.0M | 4% |
| Monitoring Fees | $6.8M | 1% |
