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CoStar Group（CSGP）与六旗（FUN）财务数据对比。点击上方公司名可切换其他公司
CoStar Group的季度营收约是六旗的1.4倍（$899.9M vs $650.1M），CoStar Group净利率更高（5.2% vs -14.2%，领先19.4%），CoStar Group自由现金流更多（$101.3M vs $-109.3M）
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。
六旗娱乐是总部位于美国北卡罗来纳州夏洛特的游乐园运营企业，由雪松会与原六旗公司于2024年7月1日对等合并而成，是全球最大的区域性游乐园运营商。旗下共运营42个场地，包含27座游乐园、15座水上乐园，配套9处 onsite 度假物业。
CSGP vs FUN — 直观对比
营收规模更大
CSGP
是对方的1.4倍
$650.1M
净利率更高
CSGP
高出19.4%
-14.2%
自由现金流更多
CSGP
多$210.6M
$-109.3M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $650.1M |
| 净利润 | $46.5M | $-92.4M |
| 毛利率 | 78.6% | 91.4% |
| 营业利润率 | 5.5% | -3.8% |
| 净利率 | 5.2% | -14.2% |
| 营收同比 | 26.9% | — |
| 净利润同比 | -22.2% | — |
| 每股收益（稀释后） | $0.12 | $-0.93 |
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CSGPFUN
| Q4 25 | $899.9M | $650.1M | ||
| Q3 25 | $833.6M | $1.3B | ||
| Q2 25 | $781.3M | $930.4M | ||
| Q1 25 | $732.2M | $202.1M | ||
| Q4 24 | $709.4M | — | ||
| Q3 24 | $692.6M | $1.3B | ||
| Q2 24 | $677.8M | $571.6M | ||
| Q1 24 | $656.4M | — |
净利润CSGPFUN
| Q4 25 | $46.5M | $-92.4M | ||
| Q3 25 | $-30.9M | $-1.2B | ||
| Q2 25 | $6.2M | $-99.6M | ||
| Q1 25 | $-14.8M | $-219.7M | ||
| Q4 24 | $59.8M | — | ||
| Q3 24 | $53.0M | $111.0M | ||
| Q2 24 | $19.2M | $55.6M | ||
| Q1 24 | $6.7M | — |
毛利率CSGPFUN
| Q4 25 | 78.6% | 91.4% | ||
| Q3 25 | 79.3% | 91.6% | ||
| Q2 25 | 78.5% | 91.3% | ||
| Q1 25 | 79.1% | 89.3% | ||
| Q4 24 | 80.1% | — | ||
| Q3 24 | 79.7% | 91.9% | ||
| Q2 24 | 80.0% | 90.7% | ||
| Q1 24 | 78.5% | — |
营业利润率CSGPFUN
| Q4 25 | 5.5% | -3.8% | ||
| Q3 25 | -6.1% | -83.7% | ||
| Q2 25 | -3.5% | 8.0% | ||
| Q1 25 | -5.8% | -158.9% | ||
| Q4 24 | 5.6% | — | ||
| Q3 24 | 3.4% | 19.5% | ||
| Q2 24 | -2.4% | 21.6% | ||
| Q1 24 | -6.5% | — |
净利率CSGPFUN
| Q4 25 | 5.2% | -14.2% | ||
| Q3 25 | -3.7% | -90.1% | ||
| Q2 25 | 0.8% | -10.7% | ||
| Q1 25 | -2.0% | -108.7% | ||
| Q4 24 | 8.4% | — | ||
| Q3 24 | 7.7% | 8.2% | ||
| Q2 24 | 2.8% | 9.7% | ||
| Q1 24 | 1.0% | — |
每股收益（稀释后）CSGPFUN
| Q4 25 | $0.12 | $-0.93 | ||
| Q3 25 | $-0.07 | $-11.77 | ||
| Q2 25 | $0.01 | $-0.99 | ||
| Q1 25 | $-0.04 | $-2.20 | ||
| Q4 24 | $0.14 | — | ||
| Q3 24 | $0.13 | $1.10 | ||
| 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 | $91.1M |
| 总债务越低越好 | $140.0M | $5.2B |
| 股东权益账面价值 | $8.3B | $549.8M |
| 总资产 | $10.5B | $7.8B |
| 负债/权益比越低杠杆越低 | 0.02× | 9.40× |
8季度趋势，按日历期对齐
现金及短期投资CSGPFUN
| Q4 25 | $1.6B | $91.1M | ||
| Q3 25 | $1.9B | $70.7M | ||
| Q2 25 | $3.6B | $107.4M | ||
| Q1 25 | $3.7B | $61.5M | ||
| Q4 24 | $4.7B | — | ||
| Q3 24 | — | $89.7M | ||
| Q2 24 | — | $52.9M | ||
| Q1 24 | — | — |
总债务CSGPFUN
| Q4 25 | $140.0M | $5.2B | ||
| Q3 25 | $1.0B | $5.0B | ||
| Q2 25 | $1.0B | $5.3B | ||
| Q1 25 | $1.0B | $5.0B | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.0B | $4.6B | ||
| Q2 24 | $1.0B | $2.3B | ||
| Q1 24 | $1.0B | — |
股东权益CSGPFUN
| Q4 25 | $8.3B | $549.8M | ||
| Q3 25 | $8.6B | $614.3M | ||
| Q2 25 | $8.6B | $1.8B | ||
| Q1 25 | $8.6B | $1.8B | ||
| Q4 24 | $7.6B | — | ||
| Q3 24 | $7.5B | $2.3B | ||
| Q2 24 | $7.4B | — | ||
| Q1 24 | $7.3B | — |
总资产CSGPFUN
| Q4 25 | $10.5B | $7.8B | ||
| Q3 25 | $10.8B | $7.9B | ||
| Q2 25 | $10.5B | $9.5B | ||
| Q1 25 | $10.4B | $9.2B | ||
| Q4 24 | $9.3B | — | ||
| Q3 24 | $9.1B | $9.4B | ||
| Q2 24 | $9.1B | $2.3B | ||
| Q1 24 | $9.0B | — |
负债/权益比CSGPFUN
| Q4 25 | 0.02× | 9.40× | ||
| Q3 25 | 0.12× | 8.16× | ||
| Q2 25 | 0.12× | 2.97× | ||
| Q1 25 | 0.12× | 2.75× | ||
| Q4 24 | 0.13× | — | ||
| Q3 24 | 0.13× | 1.95× | ||
| 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 | $-37.7M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $-109.3M |
| 自由现金流率自由现金流/营收 | 11.3% | -16.8% |
| 资本支出强度资本支出/营收 | 6.8% | 11.0% |
| 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 | $-152.2M |
8季度趋势，按日历期对齐
经营现金流CSGPFUN
| Q4 25 | $162.1M | $-37.7M | ||
| Q3 25 | $68.2M | $356.2M | ||
| Q2 25 | $146.5M | $187.0M | ||
| Q1 25 | $53.2M | $-178.0M | ||
| Q4 24 | $94.6M | — | ||
| Q3 24 | $100.3M | $337.4M | ||
| Q2 24 | $58.1M | — | ||
| Q1 24 | $139.6M | — |
自由现金流CSGPFUN
| Q4 25 | $101.3M | $-109.3M | ||
| Q3 25 | $-5.5M | $256.2M | ||
| Q2 25 | $27.7M | $18.8M | ||
| Q1 25 | $-500.0K | $-318.0M | ||
| Q4 24 | $25.2M | — | ||
| Q3 24 | $40.2M | $227.7M | ||
| Q2 24 | $-14.7M | — | ||
| Q1 24 | $-237.1M | — |
自由现金流率CSGPFUN
| Q4 25 | 11.3% | -16.8% | ||
| Q3 25 | -0.7% | 19.4% | ||
| Q2 25 | 3.5% | 2.0% | ||
| Q1 25 | -0.1% | -157.4% | ||
| Q4 24 | 3.6% | — | ||
| Q3 24 | 5.8% | 16.9% | ||
| Q2 24 | -2.2% | — | ||
| Q1 24 | -36.1% | — |
资本支出强度CSGPFUN
| Q4 25 | 6.8% | 11.0% | ||
| Q3 25 | 8.8% | 7.6% | ||
| Q2 25 | 15.2% | 18.1% | ||
| Q1 25 | 7.3% | 69.3% | ||
| Q4 24 | 9.8% | — | ||
| Q3 24 | 8.7% | 8.1% | ||
| Q2 24 | 10.7% | — | ||
| Q1 24 | 57.4% | — |
现金转化率CSGPFUN
| Q4 25 | 3.49× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 23.63× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.58× | — | ||
| Q3 24 | 1.89× | 3.04× | ||
| Q2 24 | 3.03× | — | ||
| Q1 24 | 20.84× | — |
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% |
FUN
| Admission | $327.4M | 50% |
| Food Merchandiseand Gaming | $205.7M | 32% |
| Accommodations Extra Charge Products And Other | $117.0M | 18% |
