vs
CoStar Group（CSGP）与Shift4 Payments, Inc.（FOUR）财务数据对比。点击上方公司名可切换其他公司
Shift4 Payments, Inc.的季度营收约是CoStar Group的1.3倍（$1.2B vs $899.9M），CoStar Group净利率更高（5.2% vs 3.4%，领先1.8%），Shift4 Payments, Inc.同比增速更快（34.0% vs 26.9%），Shift4 Payments, Inc.自由现金流更多（$222.5M vs $101.3M），过去两年Shift4 Payments, Inc.的营收复合增速更高（29.6% 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。
Shift4 Payments是美国支付处理服务商，总部位于宾夕法尼亚州阿伦敦，1999年由贾里德·艾萨克曼创立。公司为零售、酒店、休闲、餐饮等行业超20万家商户提供支付处理服务，主营移动支付软硬件等商业技术，2020年于纽约证券交易所挂牌上市。
CSGP vs FOUR — 直观对比
营收规模更大
FOUR
是对方的1.3倍
$899.9M
营收增速更快
FOUR
高出7.1%
26.9%
净利率更高
CSGP
高出1.8%
3.4%
自由现金流更多
FOUR
多$121.2M
$101.3M
两年增速更快
FOUR
近两年复合增速
17.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $1.2B |
| 净利润 | $46.5M | $40.2M |
| 毛利率 | 78.6% | — |
| 营业利润率 | 5.5% | 10.8% |
| 净利率 | 5.2% | 3.4% |
| 营收同比 | 26.9% | 34.0% |
| 净利润同比 | -22.2% | -65.3% |
| 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CSGPFOUR
| Q4 25 | $899.9M | $1.2B | ||
| Q3 25 | $833.6M | $1.2B | ||
| Q2 25 | $781.3M | $966.2M | ||
| Q1 25 | $732.2M | $848.3M | ||
| Q4 24 | $709.4M | $887.0M | ||
| Q3 24 | $692.6M | $909.2M | ||
| Q2 24 | $677.8M | $827.0M | ||
| Q1 24 | $656.4M | $707.4M |
净利润CSGPFOUR
| Q4 25 | $46.5M | $40.2M | ||
| Q3 25 | $-30.9M | $28.1M | ||
| Q2 25 | $6.2M | $34.0M | ||
| Q1 25 | $-14.8M | $16.7M | ||
| Q4 24 | $59.8M | $116.0M | ||
| Q3 24 | $53.0M | $53.8M | ||
| Q2 24 | $19.2M | $39.2M | ||
| Q1 24 | $6.7M | $20.6M |
毛利率CSGPFOUR
| Q4 25 | 78.6% | — | ||
| Q3 25 | 79.3% | — | ||
| Q2 25 | 78.5% | — | ||
| Q1 25 | 79.1% | — | ||
| Q4 24 | 80.1% | — | ||
| Q3 24 | 79.7% | — | ||
| Q2 24 | 80.0% | — | ||
| Q1 24 | 78.5% | — |
营业利润率CSGPFOUR
| Q4 25 | 5.5% | 10.8% | ||
| Q3 25 | -6.1% | 9.7% | ||
| Q2 25 | -3.5% | 8.6% | ||
| Q1 25 | -5.8% | 3.0% | ||
| Q4 24 | 5.6% | 9.7% | ||
| Q3 24 | 3.4% | 8.8% | ||
| Q2 24 | -2.4% | 7.2% | ||
| Q1 24 | -6.5% | 3.0% |
净利率CSGPFOUR
| Q4 25 | 5.2% | 3.4% | ||
| Q3 25 | -3.7% | 2.4% | ||
| Q2 25 | 0.8% | 3.5% | ||
| Q1 25 | -2.0% | 2.0% | ||
| Q4 24 | 8.4% | 13.1% | ||
| Q3 24 | 7.7% | 5.9% | ||
| Q2 24 | 2.8% | 4.7% | ||
| Q1 24 | 1.0% | 2.9% |
每股收益（稀释后）CSGPFOUR
| 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 | $964.0M |
| 总债务越低越好 | $140.0M | $4.5B |
| 股东权益账面价值 | $8.3B | $1.4B |
| 总资产 | $10.5B | $8.7B |
| 负债/权益比越低杠杆越低 | 0.02× | 3.15× |
8季度趋势，按日历期对齐
现金及短期投资CSGPFOUR
| Q4 25 | $1.6B | $964.0M | ||
| Q3 25 | $1.9B | $1.5B | ||
| Q2 25 | $3.6B | $3.0B | ||
| Q1 25 | $3.7B | $1.2B | ||
| Q4 24 | $4.7B | $1.2B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $205.0M | ||
| Q1 24 | — | $522.9M |
总债务CSGPFOUR
| Q4 25 | $140.0M | $4.5B | ||
| Q3 25 | $1.0B | $4.7B | ||
| Q2 25 | $1.0B | $3.7B | ||
| Q1 25 | $1.0B | $2.8B | ||
| Q4 24 | $1.0B | $2.8B | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.0B | — |
股东权益CSGPFOUR
| Q4 25 | $8.3B | $1.4B | ||
| Q3 25 | $8.6B | $1.7B | ||
| Q2 25 | $8.6B | $1.6B | ||
| Q1 25 | $8.6B | $805.2M | ||
| Q4 24 | $7.6B | $806.6M | ||
| Q3 24 | $7.5B | $811.8M | ||
| Q2 24 | $7.4B | $700.8M | ||
| Q1 24 | $7.3B | $674.5M |
总资产CSGPFOUR
| Q4 25 | $10.5B | $8.7B | ||
| Q3 25 | $10.8B | $9.0B | ||
| Q2 25 | $10.5B | $7.0B | ||
| Q1 25 | $10.4B | $5.0B | ||
| Q4 24 | $9.3B | $5.0B | ||
| Q3 24 | $9.1B | $5.0B | ||
| Q2 24 | $9.1B | $3.5B | ||
| Q1 24 | $9.0B | $3.4B |
负债/权益比CSGPFOUR
| Q4 25 | 0.02× | 3.15× | ||
| Q3 25 | 0.12× | 2.83× | ||
| Q2 25 | 0.12× | 2.34× | ||
| Q1 25 | 0.12× | 3.53× | ||
| Q4 24 | 0.13× | 3.52× | ||
| 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 | $223.7M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $222.5M |
| 自由现金流率自由现金流/营收 | 11.3% | 18.7% |
| 资本支出强度资本支出/营收 | 6.8% | 0.1% |
| 现金转化率经营现金流/净利润 | 3.49× | 5.56× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $624.0M |
8季度趋势，按日历期对齐
经营现金流CSGPFOUR
| Q4 25 | $162.1M | $223.7M | ||
| Q3 25 | $68.2M | $171.8M | ||
| Q2 25 | $146.5M | $141.9M | ||
| Q1 25 | $53.2M | $96.6M | ||
| Q4 24 | $94.6M | $145.4M | ||
| Q3 24 | $100.3M | $182.1M | ||
| Q2 24 | $58.1M | $116.1M | ||
| Q1 24 | $139.6M | $56.7M |
自由现金流CSGPFOUR
| Q4 25 | $101.3M | $222.5M | ||
| Q3 25 | $-5.5M | $165.4M | ||
| Q2 25 | $27.7M | $141.0M | ||
| Q1 25 | $-500.0K | $95.1M | ||
| Q4 24 | $25.2M | $143.8M | ||
| Q3 24 | $40.2M | $180.1M | ||
| Q2 24 | $-14.7M | $113.9M | ||
| Q1 24 | $-237.1M | $55.4M |
自由现金流率CSGPFOUR
| Q4 25 | 11.3% | 18.7% | ||
| Q3 25 | -0.7% | 14.1% | ||
| Q2 25 | 3.5% | 14.6% | ||
| Q1 25 | -0.1% | 11.2% | ||
| Q4 24 | 3.6% | 16.2% | ||
| Q3 24 | 5.8% | 19.8% | ||
| Q2 24 | -2.2% | 13.8% | ||
| Q1 24 | -36.1% | 7.8% |
资本支出强度CSGPFOUR
| Q4 25 | 6.8% | 0.1% | ||
| Q3 25 | 8.8% | 0.5% | ||
| Q2 25 | 15.2% | 0.1% | ||
| Q1 25 | 7.3% | 0.2% | ||
| Q4 24 | 9.8% | 0.2% | ||
| Q3 24 | 8.7% | 0.2% | ||
| Q2 24 | 10.7% | 0.3% | ||
| Q1 24 | 57.4% | 0.2% |
现金转化率CSGPFOUR
| Q4 25 | 3.49× | 5.56× | ||
| Q3 25 | — | 6.11× | ||
| Q2 25 | 23.63× | 4.17× | ||
| Q1 25 | — | 5.78× | ||
| Q4 24 | 1.58× | 1.25× | ||
| Q3 24 | 1.89× | 3.38× | ||
| Q2 24 | 3.03× | 2.96× | ||
| Q1 24 | 20.84× | 2.75× |
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% |
FOUR
| Payments Based Revenue | $788.8M | 66% |
| Other | $255.0M | 21% |
| Subscription And Other Revenues | $144.8M | 12% |
