vs
CoStar Group（CSGP）与CASELLA WASTE SYSTEMS INC（CWST）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CASELLA WASTE SYSTEMS INC的1.6倍（$899.9M vs $557.2M），CoStar Group净利率更高（5.2% vs -1.0%，领先6.2%），CoStar Group同比增速更快（26.9% vs 9.6%），CoStar Group自由现金流更多（$101.3M vs $30.7M），过去两年CASELLA WASTE SYSTEMS INC的营收复合增速更高（21.5% vs 17.1%）
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。
Casella Waste Systems Inc.是总部位于美国佛蒙特州拉特兰的废弃物管理企业，1975年创立时仅靠一辆卡车起步，现为区域型垂直一体化固体废物服务提供商，面向住宅、商业、市政及工业客户提供固废收集处置、中转、回收、有机废弃物处理等专业资源管理服务。
CSGP vs CWST — 直观对比
营收规模更大
CSGP
是对方的1.6倍
$557.2M
营收增速更快
CSGP
高出17.2%
9.6%
净利率更高
CSGP
高出6.2%
-1.0%
自由现金流更多
CSGP
多$70.6M
$30.7M
两年增速更快
CWST
近两年复合增速
17.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $557.2M |
| 净利润 | $46.5M | $-5.5M |
| 毛利率 | 78.6% | — |
| 营业利润率 | 5.5% | 0.9% |
| 净利率 | 5.2% | -1.0% |
| 营收同比 | 26.9% | 9.6% |
| 净利润同比 | -22.2% | -15.2% |
| 每股收益（稀释后） | $0.12 | $-0.09 |
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CSGPCWST
| Q1 26 | — | $557.2M | ||
| Q4 25 | $899.9M | $469.1M | ||
| Q3 25 | $833.6M | $485.4M | ||
| Q2 25 | $781.3M | $465.3M | ||
| Q1 25 | $732.2M | $417.1M | ||
| Q4 24 | $709.4M | $427.5M | ||
| Q3 24 | $692.6M | $411.6M | ||
| Q2 24 | $677.8M | $377.2M |
净利润CSGPCWST
| Q1 26 | — | $-5.5M | ||
| Q4 25 | $46.5M | $-2.5M | ||
| Q3 25 | $-30.9M | $10.0M | ||
| Q2 25 | $6.2M | $5.2M | ||
| Q1 25 | $-14.8M | $-4.8M | ||
| Q4 24 | $59.8M | $4.9M | ||
| Q3 24 | $53.0M | $5.8M | ||
| Q2 24 | $19.2M | $7.0M |
毛利率CSGPCWST
| Q1 26 | — | — | ||
| Q4 25 | 78.6% | 33.3% | ||
| Q3 25 | 79.3% | 35.0% | ||
| Q2 25 | 78.5% | 33.8% | ||
| Q1 25 | 79.1% | 32.8% | ||
| Q4 24 | 80.1% | 33.2% | ||
| Q3 24 | 79.7% | 35.1% | ||
| Q2 24 | 80.0% | 35.4% |
营业利润率CSGPCWST
| Q1 26 | — | 0.9% | ||
| Q4 25 | 5.5% | 2.5% | ||
| Q3 25 | -6.1% | 6.1% | ||
| Q2 25 | -3.5% | 4.1% | ||
| Q1 25 | -5.8% | 0.8% | ||
| Q4 24 | 5.6% | 4.3% | ||
| Q3 24 | 3.4% | 5.9% | ||
| Q2 24 | -2.4% | 6.1% |
净利率CSGPCWST
| Q1 26 | — | -1.0% | ||
| Q4 25 | 5.2% | -0.5% | ||
| Q3 25 | -3.7% | 2.1% | ||
| Q2 25 | 0.8% | 1.1% | ||
| Q1 25 | -2.0% | -1.2% | ||
| Q4 24 | 8.4% | 1.1% | ||
| Q3 24 | 7.7% | 1.4% | ||
| Q2 24 | 2.8% | 1.9% |
每股收益（稀释后）CSGPCWST
| Q1 26 | — | $-0.09 | ||
| Q4 25 | $0.12 | $-0.04 | ||
| Q3 25 | $-0.07 | $0.16 | ||
| Q2 25 | $0.01 | $0.08 | ||
| Q1 25 | $-0.04 | $-0.08 | ||
| Q4 24 | $0.14 | $0.08 | ||
| Q3 24 | $0.13 | $0.10 | ||
| Q2 24 | $0.05 | $0.12 |
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 | $126.9M |
| 总债务越低越好 | $140.0M | — |
| 股东权益账面价值 | $8.3B | $1.6B |
| 总资产 | $10.5B | $3.3B |
| 负债/权益比越低杠杆越低 | 0.02× | — |
8季度趋势，按日历期对齐
现金及短期投资CSGPCWST
| Q1 26 | — | $126.9M | ||
| Q4 25 | $1.6B | $123.8M | ||
| Q3 25 | $1.9B | $192.7M | ||
| Q2 25 | $3.6B | $217.8M | ||
| Q1 25 | $3.7B | $267.7M | ||
| Q4 24 | $4.7B | $358.3M | ||
| Q3 24 | — | $519.0M | ||
| Q2 24 | — | $208.5M |
总债务CSGPCWST
| Q1 26 | — | — | ||
| Q4 25 | $140.0M | $1.1B | ||
| Q3 25 | $1.0B | $1.1B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $1.0B | $1.1B | ||
| Q4 24 | $1.0B | $1.1B | ||
| Q3 24 | $1.0B | $1.0B | ||
| Q2 24 | $1.0B | $976.6M |
股东权益CSGPCWST
| Q1 26 | — | $1.6B | ||
| Q4 25 | $8.3B | $1.6B | ||
| Q3 25 | $8.6B | $1.6B | ||
| Q2 25 | $8.6B | $1.6B | ||
| Q1 25 | $8.6B | $1.5B | ||
| Q4 24 | $7.6B | $1.6B | ||
| Q3 24 | $7.5B | $1.5B | ||
| Q2 24 | $7.4B | $1.0B |
总资产CSGPCWST
| Q1 26 | — | $3.3B | ||
| Q4 25 | $10.5B | $3.3B | ||
| Q3 25 | $10.8B | $3.3B | ||
| Q2 25 | $10.5B | $3.3B | ||
| Q1 25 | $10.4B | $3.2B | ||
| Q4 24 | $9.3B | $3.2B | ||
| Q3 24 | $9.1B | $3.1B | ||
| Q2 24 | $9.1B | $2.5B |
负债/权益比CSGPCWST
| Q1 26 | — | — | ||
| Q4 25 | 0.02× | 0.72× | ||
| Q3 25 | 0.12× | 0.72× | ||
| Q2 25 | 0.12× | 0.72× | ||
| Q1 25 | 0.12× | 0.72× | ||
| Q4 24 | 0.13× | 0.70× | ||
| Q3 24 | 0.13× | 0.68× | ||
| Q2 24 | 0.14× | 0.94× |
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 | $62.3M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $30.7M |
| 自由现金流率自由现金流/营收 | 11.3% | 5.5% |
| 资本支出强度资本支出/营收 | 6.8% | 9.0% |
| 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 | $120.7M |
8季度趋势，按日历期对齐
经营现金流CSGPCWST
| Q1 26 | — | $62.3M | ||
| Q4 25 | $162.1M | $96.6M | ||
| Q3 25 | $68.2M | $93.6M | ||
| Q2 25 | $146.5M | $89.5M | ||
| Q1 25 | $53.2M | $50.1M | ||
| Q4 24 | $94.6M | $109.8M | ||
| Q3 24 | $100.3M | $91.8M | ||
| Q2 24 | $58.1M | $72.1M |
自由现金流CSGPCWST
| Q1 26 | — | $30.7M | ||
| Q4 25 | $101.3M | $39.3M | ||
| Q3 25 | $-5.5M | $27.6M | ||
| Q2 25 | $27.7M | $23.1M | ||
| Q1 25 | $-500.0K | $-5.4M | ||
| Q4 24 | $25.2M | $32.9M | ||
| Q3 24 | $40.2M | $40.4M | ||
| Q2 24 | $-14.7M | $27.5M |
自由现金流率CSGPCWST
| Q1 26 | — | 5.5% | ||
| Q4 25 | 11.3% | 8.4% | ||
| Q3 25 | -0.7% | 5.7% | ||
| Q2 25 | 3.5% | 5.0% | ||
| Q1 25 | -0.1% | -1.3% | ||
| Q4 24 | 3.6% | 7.7% | ||
| Q3 24 | 5.8% | 9.8% | ||
| Q2 24 | -2.2% | 7.3% |
资本支出强度CSGPCWST
| Q1 26 | — | 9.0% | ||
| Q4 25 | 6.8% | 12.2% | ||
| Q3 25 | 8.8% | 13.6% | ||
| Q2 25 | 15.2% | 14.3% | ||
| Q1 25 | 7.3% | 13.3% | ||
| Q4 24 | 9.8% | 18.0% | ||
| Q3 24 | 8.7% | 12.5% | ||
| Q2 24 | 10.7% | 11.8% |
现金转化率CSGPCWST
| Q1 26 | — | — | ||
| Q4 25 | 3.49× | — | ||
| Q3 25 | — | 9.37× | ||
| Q2 25 | 23.63× | 17.19× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.58× | 22.51× | ||
| Q3 24 | 1.89× | 15.91× | ||
| Q2 24 | 3.03× | 10.29× |
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% |
CWST
| Collection | $334.8M | 60% |
| Transfer station | $65.9M | 12% |
| Processing (ii) | $49.0M | 9% |
| Landfill | $48.0M | 9% |
| National Accounts (ii) | $45.6M | 8% |
| Transportation | $8.2M | 1% |
| Landfill gas-to-energy | $2.9M | 1% |
