vs
CoStar Group（CSGP）与QWEST CORP（CTBB）财务数据对比。点击上方公司名可切换其他公司
QWEST CORP的季度营收约是CoStar Group的1.2倍（$1.1B vs $899.9M），CoStar Group净利率更高（5.2% vs -187.5%，领先192.6%），CoStar Group同比增速更快（26.9% vs -15.0%），QWEST CORP自由现金流更多（$160.0M vs $101.3M），过去两年CoStar Group的营收复合增速更高（17.1% vs -8.6%）
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。
奎斯特公司（以CenturyLink QC名义运营）是一家隶属于 lumen Technologies 的地区性贝尔运营公司。其前身为1911年成立的山地电话电报公司，先后更名为山地贝尔、美国西部通讯，2000年改为现名，业务整合了原Malheur Bell、西北贝尔、太平洋西北贝尔的运营资源。
CSGP vs CTBB — 直观对比
营收规模更大
CTBB
是对方的1.2倍
$899.9M
营收增速更快
CSGP
高出41.9%
-15.0%
净利率更高
CSGP
高出192.6%
-187.5%
自由现金流更多
CTBB
多$58.7M
$101.3M
两年增速更快
CSGP
近两年复合增速
-8.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $1.1B |
| 净利润 | $46.5M | $-2.1B |
| 毛利率 | 78.6% | 67.9% |
| 营业利润率 | 5.5% | -183.2% |
| 净利率 | 5.2% | -187.5% |
| 营收同比 | 26.9% | -15.0% |
| 净利润同比 | -22.2% | -627.9% |
| 每股收益（稀释后） | $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CSGPCTBB
| Q4 25 | $899.9M | $1.1B | ||
| Q3 25 | $833.6M | $1.1B | ||
| Q2 25 | $781.3M | $1.1B | ||
| Q1 25 | $732.2M | $1.2B | ||
| Q4 24 | $709.4M | $1.3B | ||
| Q3 24 | $692.6M | $1.3B | ||
| Q2 24 | $677.8M | $1.3B | ||
| Q1 24 | $656.4M | $1.3B |
净利润CSGPCTBB
| Q4 25 | $46.5M | $-2.1B | ||
| Q3 25 | $-30.9M | $176.0M | ||
| Q2 25 | $6.2M | $277.0M | ||
| Q1 25 | $-14.8M | $284.0M | ||
| Q4 24 | $59.8M | $391.0M | ||
| Q3 24 | $53.0M | $365.0M | ||
| Q2 24 | $19.2M | $378.0M | ||
| Q1 24 | $6.7M | $353.0M |
毛利率CSGPCTBB
| Q4 25 | 78.6% | 67.9% | ||
| Q3 25 | 79.3% | 65.3% | ||
| Q2 25 | 78.5% | 68.2% | ||
| Q1 25 | 79.1% | 69.3% | ||
| Q4 24 | 80.1% | 71.2% | ||
| Q3 24 | 79.7% | 69.9% | ||
| Q2 24 | 80.0% | 71.6% | ||
| Q1 24 | 78.5% | 71.9% |
营业利润率CSGPCTBB
| Q4 25 | 5.5% | -183.2% | ||
| Q3 25 | -6.1% | 22.3% | ||
| Q2 25 | -3.5% | 33.1% | ||
| Q1 25 | -5.8% | 33.7% | ||
| Q4 24 | 5.6% | 40.7% | ||
| Q3 24 | 3.4% | 38.5% | ||
| Q2 24 | -2.4% | 40.3% | ||
| Q1 24 | -6.5% | 37.6% |
净利率CSGPCTBB
| Q4 25 | 5.2% | -187.5% | ||
| Q3 25 | -3.7% | 16.1% | ||
| Q2 25 | 0.8% | 24.3% | ||
| Q1 25 | -2.0% | 24.7% | ||
| Q4 24 | 8.4% | 30.2% | ||
| Q3 24 | 7.7% | 28.2% | ||
| Q2 24 | 2.8% | 28.7% | ||
| Q1 24 | 1.0% | 26.8% |
每股收益（稀释后）CSGPCTBB
| Q4 25 | $0.12 | — | ||
| Q3 25 | $-0.07 | — | ||
| Q2 25 | $0.01 | — | ||
| Q1 25 | $-0.04 | — | ||
| Q4 24 | $0.14 | — | ||
| Q3 24 | $0.13 | — | ||
| Q2 24 | $0.05 | — | ||
| Q1 24 | $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 | $1.6B | $39.0M |
| 总债务越低越好 | $140.0M | $1.7B |
| 股东权益账面价值 | $8.3B | $10.9B |
| 总资产 | $10.5B | $15.8B |
| 负债/权益比越低杠杆越低 | 0.02× | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资CSGPCTBB
| Q4 25 | $1.6B | $39.0M | ||
| Q3 25 | $1.9B | $36.0M | ||
| Q2 25 | $3.6B | $25.0M | ||
| Q1 25 | $3.7B | $40.0M | ||
| Q4 24 | $4.7B | $26.0M | ||
| Q3 24 | — | $22.0M | ||
| Q2 24 | — | $18.0M | ||
| Q1 24 | — | $14.0M |
总债务CSGPCTBB
| Q4 25 | $140.0M | $1.7B | ||
| Q3 25 | $1.0B | $1.7B | ||
| Q2 25 | $1.0B | $1.7B | ||
| Q1 25 | $1.0B | $1.7B | ||
| Q4 24 | $1.0B | $1.7B | ||
| Q3 24 | $1.0B | $1.7B | ||
| Q2 24 | $1.0B | $1.9B | ||
| Q1 24 | $1.0B | $1.9B |
股东权益CSGPCTBB
| Q4 25 | $8.3B | $10.9B | ||
| Q3 25 | $8.6B | $13.0B | ||
| Q2 25 | $8.6B | $12.8B | ||
| Q1 25 | $8.6B | $12.5B | ||
| Q4 24 | $7.6B | $12.2B | ||
| Q3 24 | $7.5B | $11.9B | ||
| Q2 24 | $7.4B | $11.5B | ||
| Q1 24 | $7.3B | $11.1B |
总资产CSGPCTBB
| Q4 25 | $10.5B | $15.8B | ||
| Q3 25 | $10.8B | $17.9B | ||
| Q2 25 | $10.5B | $17.8B | ||
| Q1 25 | $10.4B | $17.6B | ||
| Q4 24 | $9.3B | $17.4B | ||
| Q3 24 | $9.1B | $17.0B | ||
| Q2 24 | $9.1B | $16.6B | ||
| Q1 24 | $9.0B | $16.4B |
负债/权益比CSGPCTBB
| Q4 25 | 0.02× | 0.15× | ||
| Q3 25 | 0.12× | 0.13× | ||
| Q2 25 | 0.12× | 0.13× | ||
| Q1 25 | 0.12× | 0.13× | ||
| Q4 24 | 0.13× | 0.14× | ||
| Q3 24 | 0.13× | 0.14× | ||
| Q2 24 | 0.14× | 0.17× | ||
| Q1 24 | 0.14× | 0.17× |
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 | $162.1M | $402.0M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $160.0M |
| 自由现金流率自由现金流/营收 | 11.3% | 14.5% |
| 资本支出强度资本支出/营收 | 6.8% | 22.0% |
| 现金转化率经营现金流/净利润 | 3.49× | — |
| 过去12个月自由现金流最近4个季度 | $123.0M | $938.0M |
8季度趋势，按日历期对齐
经营现金流CSGPCTBB
| Q4 25 | $162.1M | $402.0M | ||
| Q3 25 | $68.2M | $427.0M | ||
| Q2 25 | $146.5M | $480.0M | ||
| Q1 25 | $53.2M | $453.0M | ||
| Q4 24 | $94.6M | $548.0M | ||
| Q3 24 | $100.3M | $627.0M | ||
| Q2 24 | $58.1M | $548.0M | ||
| Q1 24 | $139.6M | $471.0M |
自由现金流CSGPCTBB
| Q4 25 | $101.3M | $160.0M | ||
| Q3 25 | $-5.5M | $252.0M | ||
| Q2 25 | $27.7M | $276.0M | ||
| Q1 25 | $-500.0K | $250.0M | ||
| Q4 24 | $25.2M | $277.0M | ||
| Q3 24 | $40.2M | $396.0M | ||
| Q2 24 | $-14.7M | $280.0M | ||
| Q1 24 | $-237.1M | $194.0M |
自由现金流率CSGPCTBB
| Q4 25 | 11.3% | 14.5% | ||
| Q3 25 | -0.7% | 23.1% | ||
| Q2 25 | 3.5% | 24.2% | ||
| Q1 25 | -0.1% | 21.7% | ||
| Q4 24 | 3.6% | 21.4% | ||
| Q3 24 | 5.8% | 30.6% | ||
| Q2 24 | -2.2% | 21.3% | ||
| Q1 24 | -36.1% | 14.7% |
资本支出强度CSGPCTBB
| Q4 25 | 6.8% | 22.0% | ||
| Q3 25 | 8.8% | 16.0% | ||
| Q2 25 | 15.2% | 17.9% | ||
| Q1 25 | 7.3% | 17.6% | ||
| Q4 24 | 9.8% | 20.9% | ||
| Q3 24 | 8.7% | 17.9% | ||
| Q2 24 | 10.7% | 20.4% | ||
| Q1 24 | 57.4% | 21.0% |
现金转化率CSGPCTBB
| Q4 25 | 3.49× | — | ||
| Q3 25 | — | 2.43× | ||
| Q2 25 | 23.63× | 1.73× | ||
| Q1 25 | — | 1.60× | ||
| Q4 24 | 1.58× | 1.40× | ||
| Q3 24 | 1.89× | 1.72× | ||
| Q2 24 | 3.03× | 1.45× | ||
| Q1 24 | 20.84× | 1.33× |
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
CSGP
| Co Star | $503.8M | 56% |
| Other | $283.0M | 31% |
| Loop Net | $94.7M | 11% |
CTBB
| Nonrelated Party | $665.0M | 60% |
| Other | $436.0M | 40% |
