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CoStar Group（CSGP）与FORWARD AIR CORP（FWRD）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FORWARD AIR CORP的1.4倍（$899.9M vs $631.2M），CoStar Group净利率更高（5.2% vs -4.5%，领先9.7%），CoStar Group同比增速更快（26.9% vs -0.3%），过去两年CoStar Group的营收复合增速更高（17.1% vs 7.9%）
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。
Forward Air Corp是北美领先的轻资产物流运输服务商，核心业务包括加急零担货运、最后一公里配送、多式联运、仓储及供应链解决方案，服务覆盖美加墨地区，主要服务电商、零售、制造、汽车等行业。
CSGP vs FWRD — 直观对比
营收规模更大
CSGP
是对方的1.4倍
$631.2M
营收增速更快
CSGP
高出27.1%
-0.3%
净利率更高
CSGP
高出9.7%
-4.5%
两年增速更快
CSGP
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $631.2M |
| 净利润 | $46.5M | $-28.3M |
| 毛利率 | 78.6% | — |
| 营业利润率 | 5.5% | -0.5% |
| 净利率 | 5.2% | -4.5% |
| 营收同比 | 26.9% | -0.3% |
| 净利润同比 | -22.2% | 22.2% |
| 每股收益（稀释后） | $0.12 | $-0.90 |
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CSGPFWRD
| Q4 25 | $899.9M | $631.2M | ||
| Q3 25 | $833.6M | $631.8M | ||
| Q2 25 | $781.3M | $618.8M | ||
| Q1 25 | $732.2M | $613.3M | ||
| Q4 24 | $709.4M | $632.8M | ||
| Q3 24 | $692.6M | $655.9M | ||
| Q2 24 | $677.8M | $643.7M | ||
| Q1 24 | $656.4M | $541.8M |
净利润CSGPFWRD
| Q4 25 | $46.5M | $-28.3M | ||
| Q3 25 | $-30.9M | $-16.3M | ||
| Q2 25 | $6.2M | $-12.6M | ||
| Q1 25 | $-14.8M | $-50.6M | ||
| Q4 24 | $59.8M | $-36.4M | ||
| Q3 24 | $53.0M | $-73.4M | ||
| Q2 24 | $19.2M | $-645.4M | ||
| Q1 24 | $6.7M | $-61.7M |
毛利率CSGPFWRD
| 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CSGPFWRD
| Q4 25 | 5.5% | -0.5% | ||
| Q3 25 | -6.1% | 2.4% | ||
| Q2 25 | -3.5% | 3.2% | ||
| Q1 25 | -5.8% | 0.8% | ||
| Q4 24 | 5.6% | 12.0% | ||
| Q3 24 | 3.4% | 3.5% | ||
| Q2 24 | -2.4% | -170.2% | ||
| Q1 24 | -6.5% | -12.1% |
净利率CSGPFWRD
| Q4 25 | 5.2% | -4.5% | ||
| Q3 25 | -3.7% | -2.6% | ||
| Q2 25 | 0.8% | -2.0% | ||
| Q1 25 | -2.0% | -8.3% | ||
| Q4 24 | 8.4% | -5.8% | ||
| Q3 24 | 7.7% | -11.2% | ||
| Q2 24 | 2.8% | -100.3% | ||
| Q1 24 | 1.0% | -11.4% |
每股收益（稀释后）CSGPFWRD
| Q4 25 | $0.12 | $-0.90 | ||
| Q3 25 | $-0.07 | $-0.52 | ||
| Q2 25 | $0.01 | $-0.41 | ||
| Q1 25 | $-0.04 | $-1.68 | ||
| Q4 24 | $0.14 | $-1.69 | ||
| Q3 24 | $0.13 | $-2.66 | ||
| Q2 24 | $0.05 | $-23.47 | ||
| Q1 24 | $0.02 | $-2.81 |
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 | $106.0M |
| 总债务越低越好 | $140.0M | $1.7B |
| 股东权益账面价值 | $8.3B | $113.3M |
| 总资产 | $10.5B | $2.7B |
| 负债/权益比越低杠杆越低 | 0.02× | 14.89× |
8季度趋势，按日历期对齐
现金及短期投资CSGPFWRD
| Q4 25 | $1.6B | $106.0M | ||
| Q3 25 | $1.9B | $140.4M | ||
| Q2 25 | $3.6B | $95.1M | ||
| Q1 25 | $3.7B | $116.3M | ||
| Q4 24 | $4.7B | $104.9M | ||
| Q3 24 | — | $136.6M | ||
| Q2 24 | — | $84.9M | ||
| Q1 24 | — | $152.0M |
总债务CSGPFWRD
| Q4 25 | $140.0M | $1.7B | ||
| Q3 25 | $1.0B | $1.7B | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.0B | $1.7B |
股东权益CSGPFWRD
| Q4 25 | $8.3B | $113.3M | ||
| Q3 25 | $8.6B | $139.8M | ||
| Q2 25 | $8.6B | $151.8M | ||
| Q1 25 | $8.6B | $154.6M | ||
| Q4 24 | $7.6B | $201.7M | ||
| Q3 24 | $7.5B | $226.1M | ||
| Q2 24 | $7.4B | $283.8M | ||
| Q1 24 | $7.3B | $926.1M |
总资产CSGPFWRD
| Q4 25 | $10.5B | $2.7B | ||
| Q3 25 | $10.8B | $2.8B | ||
| Q2 25 | $10.5B | $2.8B | ||
| Q1 25 | $10.4B | $2.8B | ||
| Q4 24 | $9.3B | $2.8B | ||
| Q3 24 | $9.1B | $3.1B | ||
| Q2 24 | $9.1B | $3.1B | ||
| Q1 24 | $9.0B | $4.0B |
负债/权益比CSGPFWRD
| Q4 25 | 0.02× | 14.89× | ||
| Q3 25 | 0.12× | 12.05× | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.12× | — | ||
| Q4 24 | 0.13× | — | ||
| Q3 24 | 0.13× | — | ||
| Q2 24 | 0.14× | — | ||
| Q1 24 | 0.14× | 1.81× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $101.3M | — |
| 自由现金流率自由现金流/营收 | 11.3% | — |
| 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× | — |
| 过去12个月自由现金流最近4个季度 | $123.0M | — |
8季度趋势，按日历期对齐
经营现金流CSGPFWRD
| Q4 25 | $162.1M | — | ||
| Q3 25 | $68.2M | $52.7M | ||
| Q2 25 | $146.5M | — | ||
| Q1 25 | $53.2M | $27.6M | ||
| Q4 24 | $94.6M | $-23.2M | ||
| Q3 24 | $100.3M | $51.2M | ||
| Q2 24 | $58.1M | $-45.2M | ||
| Q1 24 | $139.6M | $-51.7M |
自由现金流CSGPFWRD
| Q4 25 | $101.3M | — | ||
| Q3 25 | $-5.5M | $48.6M | ||
| Q2 25 | $27.7M | — | ||
| Q1 25 | $-500.0K | $15.7M | ||
| Q4 24 | $25.2M | $-30.5M | ||
| Q3 24 | $40.2M | $40.7M | ||
| Q2 24 | $-14.7M | $-59.6M | ||
| Q1 24 | $-237.1M | $-56.7M |
自由现金流率CSGPFWRD
| Q4 25 | 11.3% | — | ||
| Q3 25 | -0.7% | 7.7% | ||
| Q2 25 | 3.5% | — | ||
| Q1 25 | -0.1% | 2.6% | ||
| Q4 24 | 3.6% | -4.8% | ||
| Q3 24 | 5.8% | 6.2% | ||
| Q2 24 | -2.2% | -9.3% | ||
| Q1 24 | -36.1% | -10.5% |
资本支出强度CSGPFWRD
| Q4 25 | 6.8% | 1.3% | ||
| Q3 25 | 8.8% | 0.7% | ||
| Q2 25 | 15.2% | 0.8% | ||
| Q1 25 | 7.3% | 1.9% | ||
| Q4 24 | 9.8% | 1.1% | ||
| Q3 24 | 8.7% | 1.6% | ||
| Q2 24 | 10.7% | 2.2% | ||
| Q1 24 | 57.4% | 0.9% |
现金转化率CSGPFWRD
| Q4 25 | 3.49× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 23.63× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.58× | — | ||
| Q3 24 | 1.89× | — | ||
| 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% |
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
