vs
CoStar Group（CSGP）与达美乐（DPZ）财务数据对比。点击上方公司名可切换其他公司
达美乐的季度营收约是CoStar Group的1.3倍（$1.2B vs $899.9M），达美乐净利率更高（12.2% vs 5.2%，领先7.0%），CoStar Group同比增速更快（26.9% vs 3.5%），达美乐自由现金流更多（$147.0M vs $101.3M），过去两年CoStar Group的营收复合增速更高（17.1% vs 2.4%）
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。
达美乐是1960年成立的美国跨国披萨连锁品牌，注册地位于特拉华州，总部坐落在密歇根州安娜堡附近的安娜堡镇达美乐农场办公园区。截至2018年，品牌已在全球83个国家和地区的5701座城市开设约15000家门店，其中美国、印度、英国分别有5649家、1500家和1249家门店。
CSGP vs DPZ — 直观对比
营收规模更大
DPZ
是对方的1.3倍
$899.9M
营收增速更快
CSGP
高出23.4%
3.5%
净利率更高
DPZ
高出7.0%
5.2%
自由现金流更多
DPZ
多$45.7M
$101.3M
两年增速更快
CSGP
近两年复合增速
2.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $1.2B |
| 净利润 | $46.5M | $139.8M |
| 毛利率 | 78.6% | 40.4% |
| 营业利润率 | 5.5% | 20.0% |
| 净利率 | 5.2% | 12.2% |
| 营收同比 | 26.9% | 3.5% |
| 净利润同比 | -22.2% | -6.6% |
| 每股收益（稀释后） | $0.12 | $4.13 |
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CSGPDPZ
| Q1 26 | — | $1.2B | ||
| Q4 25 | $899.9M | — | ||
| Q3 25 | $833.6M | $1.1B | ||
| Q2 25 | $781.3M | $1.1B | ||
| Q1 25 | $732.2M | $1.1B | ||
| Q4 24 | $709.4M | $1.4B | ||
| Q3 24 | $692.6M | $1.1B | ||
| Q2 24 | $677.8M | $1.1B |
净利润CSGPDPZ
| Q1 26 | — | $139.8M | ||
| Q4 25 | $46.5M | — | ||
| Q3 25 | $-30.9M | $139.3M | ||
| Q2 25 | $6.2M | $131.1M | ||
| Q1 25 | $-14.8M | $149.7M | ||
| Q4 24 | $59.8M | $169.4M | ||
| Q3 24 | $53.0M | $146.9M | ||
| Q2 24 | $19.2M | $142.0M |
毛利率CSGPDPZ
| Q1 26 | — | 40.4% | ||
| Q4 25 | 78.6% | — | ||
| Q3 25 | 79.3% | 40.1% | ||
| Q2 25 | 78.5% | 40.3% | ||
| Q1 25 | 79.1% | 39.8% | ||
| Q4 24 | 80.1% | 39.2% | ||
| Q3 24 | 79.7% | 39.2% | ||
| Q2 24 | 80.0% | 39.8% |
营业利润率CSGPDPZ
| Q1 26 | — | 20.0% | ||
| Q4 25 | 5.5% | — | ||
| Q3 25 | -6.1% | 19.5% | ||
| Q2 25 | -3.5% | 19.7% | ||
| Q1 25 | -5.8% | 18.9% | ||
| Q4 24 | 5.6% | 19.0% | ||
| Q3 24 | 3.4% | 18.4% | ||
| Q2 24 | -2.4% | 17.9% |
净利率CSGPDPZ
| Q1 26 | — | 12.2% | ||
| Q4 25 | 5.2% | — | ||
| Q3 25 | -3.7% | 12.1% | ||
| Q2 25 | 0.8% | 11.4% | ||
| Q1 25 | -2.0% | 13.5% | ||
| Q4 24 | 8.4% | 11.7% | ||
| Q3 24 | 7.7% | 13.6% | ||
| Q2 24 | 2.8% | 12.9% |
每股收益（稀释后）CSGPDPZ
| Q1 26 | — | $4.13 | ||
| Q4 25 | $0.12 | — | ||
| Q3 25 | $-0.07 | $4.08 | ||
| Q2 25 | $0.01 | $3.81 | ||
| Q1 25 | $-0.04 | $4.33 | ||
| Q4 24 | $0.14 | $4.89 | ||
| Q3 24 | $0.13 | $4.19 | ||
| Q2 24 | $0.05 | $4.03 |
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 | $232.9M |
| 总债务越低越好 | $140.0M | $4.9B |
| 股东权益账面价值 | $8.3B | — |
| 总资产 | $10.5B | $1.8B |
| 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CSGPDPZ
| Q1 26 | — | $232.9M | ||
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.9B | $139.7M | ||
| Q2 25 | $3.6B | $272.9M | ||
| Q1 25 | $3.7B | $304.3M | ||
| Q4 24 | $4.7B | $186.1M | ||
| Q3 24 | — | $189.1M | ||
| Q2 24 | — | $283.7M |
总债务CSGPDPZ
| Q1 26 | — | $4.9B | ||
| Q4 25 | $140.0M | — | ||
| Q3 25 | $1.0B | $4.8B | ||
| Q2 25 | $1.0B | $3.8B | ||
| Q1 25 | $1.0B | $3.8B | ||
| Q4 24 | $1.0B | $3.8B | ||
| Q3 24 | $1.0B | $5.0B | ||
| Q2 24 | $1.0B | $5.0B |
股东权益CSGPDPZ
| Q1 26 | — | — | ||
| Q4 25 | $8.3B | — | ||
| Q3 25 | $8.6B | $-4.0B | ||
| Q2 25 | $8.6B | $-4.0B | ||
| Q1 25 | $8.6B | $-3.9B | ||
| Q4 24 | $7.6B | $-4.0B | ||
| Q3 24 | $7.5B | $-4.0B | ||
| Q2 24 | $7.4B | $-3.9B |
总资产CSGPDPZ
| Q1 26 | — | $1.8B | ||
| Q4 25 | $10.5B | — | ||
| Q3 25 | $10.8B | $1.7B | ||
| Q2 25 | $10.5B | $1.8B | ||
| Q1 25 | $10.4B | $1.9B | ||
| Q4 24 | $9.3B | $1.7B | ||
| Q3 24 | $9.1B | $1.8B | ||
| Q2 24 | $9.1B | $1.9B |
负债/权益比CSGPDPZ
| Q1 26 | — | — | ||
| 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× | — |
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 | $162.0M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $147.0M |
| 自由现金流率自由现金流/营收 | 11.3% | 12.8% |
| 资本支出强度资本支出/营收 | 6.8% | 1.3% |
| 现金转化率经营现金流/净利润 | 3.49× | 1.16× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $625.3M |
8季度趋势，按日历期对齐
经营现金流CSGPDPZ
| Q1 26 | — | $162.0M | ||
| Q4 25 | $162.1M | — | ||
| Q3 25 | $68.2M | $185.4M | ||
| Q2 25 | $146.5M | $187.8M | ||
| Q1 25 | $53.2M | $179.1M | ||
| Q4 24 | $94.6M | $178.0M | ||
| Q3 24 | $100.3M | $172.7M | ||
| Q2 24 | $58.1M | $150.7M |
自由现金流CSGPDPZ
| Q1 26 | — | $147.0M | ||
| Q4 25 | $101.3M | — | ||
| Q3 25 | $-5.5M | $164.0M | ||
| Q2 25 | $27.7M | $167.3M | ||
| Q1 25 | $-500.0K | $164.3M | ||
| Q4 24 | $25.2M | $135.9M | ||
| Q3 24 | $40.2M | $145.6M | ||
| Q2 24 | $-14.7M | $127.2M |
自由现金流率CSGPDPZ
| Q1 26 | — | 12.8% | ||
| Q4 25 | 11.3% | — | ||
| Q3 25 | -0.7% | 14.3% | ||
| Q2 25 | 3.5% | 14.6% | ||
| Q1 25 | -0.1% | 14.8% | ||
| Q4 24 | 3.6% | 9.4% | ||
| Q3 24 | 5.8% | 13.5% | ||
| Q2 24 | -2.2% | 11.6% |
资本支出强度CSGPDPZ
| Q1 26 | — | 1.3% | ||
| Q4 25 | 6.8% | — | ||
| Q3 25 | 8.8% | 1.9% | ||
| Q2 25 | 15.2% | 1.8% | ||
| Q1 25 | 7.3% | 1.3% | ||
| Q4 24 | 9.8% | 2.9% | ||
| Q3 24 | 8.7% | 2.5% | ||
| Q2 24 | 10.7% | 2.1% |
现金转化率CSGPDPZ
| Q1 26 | — | 1.16× | ||
| Q4 25 | 3.49× | — | ||
| Q3 25 | — | 1.33× | ||
| Q2 25 | 23.63× | 1.43× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | 1.58× | 1.05× | ||
| Q3 24 | 1.89× | 1.18× | ||
| Q2 24 | 3.03× | 1.06× |
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% |
DPZ
| Supply chain | $699.0M | 61% |
| U.S. franchise royalties and fees | $158.0M | 14% |
| U.S. franchise advertising | $130.5M | 11% |
| U.S. Company-owned stores | $82.1M | 7% |
| International franchise royalties and fees | $81.0M | 7% |
