vs
CoStar Group（CSGP）与DROPBOX, INC.（DBX）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DROPBOX, INC.的1.4倍（$899.9M vs $636.2M），DROPBOX, INC.净利率更高（17.1% vs 5.2%，领先11.9%），CoStar Group同比增速更快（26.9% vs -1.1%），DROPBOX, INC.自由现金流更多（$224.9M vs $101.3M），过去两年CoStar Group的营收复合增速更高（17.1% vs 0.4%）
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。
Dropbox是总部位于美国加利福尼亚州旧金山的云服务企业，2007年由麻省理工学院学生德鲁·休斯顿与阿拉什·费尔多西创立，初创阶段获得创业孵化器Y Combinator的种子投资，核心业务包含云存储、文件同步、个人云及配套客户端软件等服务。
CSGP vs DBX — 直观对比
营收规模更大
CSGP
是对方的1.4倍
$636.2M
营收增速更快
CSGP
高出28.0%
-1.1%
净利率更高
DBX
高出11.9%
5.2%
自由现金流更多
DBX
多$123.6M
$101.3M
两年增速更快
CSGP
近两年复合增速
0.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $636.2M |
| 净利润 | $46.5M | $108.7M |
| 毛利率 | 78.6% | 79.2% |
| 营业利润率 | 5.5% | 25.5% |
| 净利率 | 5.2% | 17.1% |
| 营收同比 | 26.9% | -1.1% |
| 净利润同比 | -22.2% | 5.7% |
| 每股收益（稀释后） | $0.12 | $0.43 |
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CSGPDBX
| Q4 25 | $899.9M | $636.2M | ||
| Q3 25 | $833.6M | $634.4M | ||
| Q2 25 | $781.3M | $625.7M | ||
| Q1 25 | $732.2M | $624.7M | ||
| Q4 24 | $709.4M | $643.6M | ||
| Q3 24 | $692.6M | $638.8M | ||
| Q2 24 | $677.8M | $634.5M | ||
| Q1 24 | $656.4M | $631.3M |
净利润CSGPDBX
| Q4 25 | $46.5M | $108.7M | ||
| Q3 25 | $-30.9M | $123.8M | ||
| Q2 25 | $6.2M | $125.6M | ||
| Q1 25 | $-14.8M | $150.3M | ||
| Q4 24 | $59.8M | $102.8M | ||
| Q3 24 | $53.0M | $106.7M | ||
| Q2 24 | $19.2M | $110.5M | ||
| Q1 24 | $6.7M | $132.3M |
毛利率CSGPDBX
| Q4 25 | 78.6% | 79.2% | ||
| Q3 25 | 79.3% | 79.8% | ||
| Q2 25 | 78.5% | 80.2% | ||
| Q1 25 | 79.1% | 81.3% | ||
| Q4 24 | 80.1% | 81.2% | ||
| Q3 24 | 79.7% | 82.5% | ||
| Q2 24 | 80.0% | 83.1% | ||
| Q1 24 | 78.5% | 83.2% |
营业利润率CSGPDBX
| Q4 25 | 5.5% | 25.5% | ||
| Q3 25 | -6.1% | 27.5% | ||
| Q2 25 | -3.5% | 26.9% | ||
| Q1 25 | -5.8% | 29.4% | ||
| Q4 24 | 5.6% | 13.7% | ||
| Q3 24 | 3.4% | 20.0% | ||
| Q2 24 | -2.4% | 20.0% | ||
| Q1 24 | -6.5% | 22.7% |
净利率CSGPDBX
| Q4 25 | 5.2% | 17.1% | ||
| Q3 25 | -3.7% | 19.5% | ||
| Q2 25 | 0.8% | 20.1% | ||
| Q1 25 | -2.0% | 24.1% | ||
| Q4 24 | 8.4% | 16.0% | ||
| Q3 24 | 7.7% | 16.7% | ||
| Q2 24 | 2.8% | 17.4% | ||
| Q1 24 | 1.0% | 21.0% |
每股收益（稀释后）CSGPDBX
| Q4 25 | $0.12 | $0.43 | ||
| Q3 25 | $-0.07 | $0.47 | ||
| Q2 25 | $0.01 | $0.45 | ||
| Q1 25 | $-0.04 | $0.51 | ||
| Q4 24 | $0.14 | $0.33 | ||
| Q3 24 | $0.13 | $0.34 | ||
| Q2 24 | $0.05 | $0.34 | ||
| Q1 24 | $0.02 | $0.39 |
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 | $891.3M |
| 总债务越低越好 | $140.0M | — |
| 股东权益账面价值 | $8.3B | $-1.8B |
| 总资产 | $10.5B | $2.8B |
| 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CSGPDBX
| Q4 25 | $1.6B | $891.3M | ||
| Q3 25 | $1.9B | $730.7M | ||
| Q2 25 | $3.6B | $736.3M | ||
| Q1 25 | $3.7B | $942.2M | ||
| Q4 24 | $4.7B | $1.3B | ||
| Q3 24 | — | $517.6M | ||
| Q2 24 | — | $515.1M | ||
| Q1 24 | — | $548.9M |
总债务CSGPDBX
| Q4 25 | $140.0M | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.0B | — |
股东权益CSGPDBX
| Q4 25 | $8.3B | $-1.8B | ||
| Q3 25 | $8.6B | $-1.5B | ||
| Q2 25 | $8.6B | $-1.3B | ||
| Q1 25 | $8.6B | $-1.1B | ||
| Q4 24 | $7.6B | $-752.4M | ||
| Q3 24 | $7.5B | $-546.1M | ||
| Q2 24 | $7.4B | $-371.3M | ||
| Q1 24 | $7.3B | $-277.2M |
总资产CSGPDBX
| Q4 25 | $10.5B | $2.8B | ||
| Q3 25 | $10.8B | $2.8B | ||
| Q2 25 | $10.5B | $2.8B | ||
| Q1 25 | $10.4B | $3.0B | ||
| Q4 24 | $9.3B | $3.3B | ||
| Q3 24 | $9.1B | $2.6B | ||
| Q2 24 | $9.1B | $2.7B | ||
| Q1 24 | $9.0B | $2.8B |
负债/权益比CSGPDBX
| Q4 25 | 0.02× | — | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.12× | — | ||
| Q4 24 | 0.13× | — | ||
| Q3 24 | 0.13× | — | ||
| Q2 24 | 0.14× | — | ||
| Q1 24 | 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 | $162.1M | $235.4M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $224.9M |
| 自由现金流率自由现金流/营收 | 11.3% | 35.4% |
| 资本支出强度资本支出/营收 | 6.8% | 1.7% |
| 现金转化率经营现金流/净利润 | 3.49× | 2.17× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $930.8M |
8季度趋势，按日历期对齐
经营现金流CSGPDBX
| Q4 25 | $162.1M | $235.4M | ||
| Q3 25 | $68.2M | $302.1M | ||
| Q2 25 | $146.5M | $260.5M | ||
| Q1 25 | $53.2M | $153.8M | ||
| Q4 24 | $94.6M | $213.8M | ||
| Q3 24 | $100.3M | $274.2M | ||
| Q2 24 | $58.1M | $230.6M | ||
| Q1 24 | $139.6M | $175.5M |
自由现金流CSGPDBX
| Q4 25 | $101.3M | $224.9M | ||
| Q3 25 | $-5.5M | $293.7M | ||
| Q2 25 | $27.7M | $258.5M | ||
| Q1 25 | $-500.0K | $153.7M | ||
| Q4 24 | $25.2M | $210.5M | ||
| Q3 24 | $40.2M | $270.1M | ||
| Q2 24 | $-14.7M | $224.7M | ||
| Q1 24 | $-237.1M | $166.3M |
自由现金流率CSGPDBX
| Q4 25 | 11.3% | 35.4% | ||
| Q3 25 | -0.7% | 46.3% | ||
| Q2 25 | 3.5% | 41.3% | ||
| Q1 25 | -0.1% | 24.6% | ||
| Q4 24 | 3.6% | 32.7% | ||
| Q3 24 | 5.8% | 42.3% | ||
| Q2 24 | -2.2% | 35.4% | ||
| Q1 24 | -36.1% | 26.3% |
资本支出强度CSGPDBX
| Q4 25 | 6.8% | 1.7% | ||
| Q3 25 | 8.8% | 1.3% | ||
| Q2 25 | 15.2% | 0.3% | ||
| Q1 25 | 7.3% | 0.0% | ||
| Q4 24 | 9.8% | 0.5% | ||
| Q3 24 | 8.7% | 0.6% | ||
| Q2 24 | 10.7% | 0.9% | ||
| Q1 24 | 57.4% | 1.5% |
现金转化率CSGPDBX
| Q4 25 | 3.49× | 2.17× | ||
| Q3 25 | — | 2.44× | ||
| Q2 25 | 23.63× | 2.07× | ||
| Q1 25 | — | 1.02× | ||
| Q4 24 | 1.58× | 2.08× | ||
| Q3 24 | 1.89× | 2.57× | ||
| Q2 24 | 3.03× | 2.09× | ||
| 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% |
DBX
| US | $355.3M | 56% |
| Non Us | $280.9M | 44% |
