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CoStar Group（CSGP）与Global Business Travel Group, Inc.（GBTG）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Global Business Travel Group, Inc.的1.1倍（$899.9M vs $792.0M），Global Business Travel Group, Inc.净利率更高（10.5% vs 5.2%，领先5.3%），Global Business Travel Group, Inc.同比增速更快（34.0% vs 26.9%），CoStar Group自由现金流更多（$101.3M vs $13.0M），过去两年CoStar Group的营收复合增速更高（17.1% vs 13.9%）
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。
环球商旅集团（GBTG）是专业的差旅管理服务商，致力于为各类企业及机构提供全链路商务出行解决方案。核心服务涵盖智能线上预订工具、移动端应用、差旅项目管控与咨询、高管专属出行服务、会议活动支持、差旅数据分析以及出行安全保障等，可满足不同规模客户的多元化商务出行管理需求。
CSGP vs GBTG — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $792.0M |
| 净利润 | $46.5M | $83.0M |
| 毛利率 | 78.6% | — |
| 营业利润率 | 5.5% | 3.7% |
| 净利率 | 5.2% | 10.5% |
| 营收同比 | 26.9% | 34.0% |
| 净利润同比 | -22.2% | 692.9% |
| 每股收益（稀释后） | $0.12 | $0.16 |
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
| Q4 25 | $899.9M | $792.0M | ||
| Q3 25 | $833.6M | $674.0M | ||
| Q2 25 | $781.3M | $631.0M | ||
| Q1 25 | $732.2M | $621.0M | ||
| Q4 24 | $709.4M | $591.0M | ||
| Q3 24 | $692.6M | $597.0M | ||
| Q2 24 | $677.8M | $625.0M | ||
| Q1 24 | $656.4M | $610.0M |
| Q4 25 | $46.5M | $83.0M | ||
| Q3 25 | $-30.9M | $-62.0M | ||
| Q2 25 | $6.2M | $15.0M | ||
| Q1 25 | $-14.8M | $75.0M | ||
| Q4 24 | $59.8M | $-14.0M | ||
| Q3 24 | $53.0M | $-128.0M | ||
| Q2 24 | $19.2M | $27.0M | ||
| Q1 24 | $6.7M | $-19.0M |
| 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% | — |
| Q4 25 | 5.5% | 3.7% | ||
| Q3 25 | -6.1% | 1.8% | ||
| Q2 25 | -3.5% | 5.4% | ||
| Q1 25 | -5.8% | 8.9% | ||
| Q4 24 | 5.6% | 5.1% | ||
| Q3 24 | 3.4% | 4.5% | ||
| Q2 24 | -2.4% | 6.7% | ||
| Q1 24 | -6.5% | 2.6% |
| Q4 25 | 5.2% | 10.5% | ||
| Q3 25 | -3.7% | -9.2% | ||
| Q2 25 | 0.8% | 2.4% | ||
| Q1 25 | -2.0% | 12.1% | ||
| Q4 24 | 8.4% | -2.4% | ||
| Q3 24 | 7.7% | -21.4% | ||
| Q2 24 | 2.8% | 4.3% | ||
| Q1 24 | 1.0% | -3.1% |
| Q4 25 | $0.12 | $0.16 | ||
| Q3 25 | $-0.07 | $-0.13 | ||
| Q2 25 | $0.01 | $0.03 | ||
| Q1 25 | $-0.04 | $0.16 | ||
| Q4 24 | $0.14 | $-0.04 | ||
| Q3 24 | $0.13 | $-0.28 | ||
| Q2 24 | $0.05 | $0.06 | ||
| Q1 24 | $0.02 | $-0.04 |
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 | $434.0M |
| 总债务越低越好 | $140.0M | $1.4B |
| 股东权益账面价值 | $8.3B | $1.6B |
| 总资产 | $10.5B | $4.9B |
| 负债/权益比越低杠杆越低 | 0.02× | 0.88× |
8季度趋势，按日历期对齐
| Q4 25 | $1.6B | $434.0M | ||
| Q3 25 | $1.9B | $427.0M | ||
| Q2 25 | $3.6B | $601.0M | ||
| Q1 25 | $3.7B | $552.0M | ||
| Q4 24 | $4.7B | $536.0M | ||
| Q3 24 | — | $524.0M | ||
| Q2 24 | — | $515.0M | ||
| Q1 24 | — | $475.0M |
| Q4 25 | $140.0M | $1.4B | ||
| Q3 25 | $1.0B | $1.4B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $1.0B | $1.4B | ||
| Q4 24 | $1.0B | $1.4B | ||
| Q3 24 | $1.0B | $1.4B | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.0B | — |
| Q4 25 | $8.3B | $1.6B | ||
| Q3 25 | $8.6B | $1.5B | ||
| Q2 25 | $8.6B | $1.2B | ||
| Q1 25 | $8.6B | $1.1B | ||
| Q4 24 | $7.6B | $1.1B | ||
| Q3 24 | $7.5B | $1.1B | ||
| Q2 24 | $7.4B | $1.2B | ||
| Q1 24 | $7.3B | $1.2B |
| Q4 25 | $10.5B | $4.9B | ||
| Q3 25 | $10.8B | $4.8B | ||
| Q2 25 | $10.5B | $3.9B | ||
| Q1 25 | $10.4B | $3.8B | ||
| Q4 24 | $9.3B | $3.6B | ||
| Q3 24 | $9.1B | $3.8B | ||
| Q2 24 | $9.1B | $3.8B | ||
| Q1 24 | $9.0B | $3.8B |
| Q4 25 | 0.02× | 0.88× | ||
| Q3 25 | 0.12× | 0.91× | ||
| Q2 25 | 0.12× | 1.15× | ||
| Q1 25 | 0.12× | 1.23× | ||
| Q4 24 | 0.13× | 1.32× | ||
| Q3 24 | 0.13× | 1.26× | ||
| 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 | $52.0M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $13.0M |
| 自由现金流率自由现金流/营收 | 11.3% | 1.6% |
| 资本支出强度资本支出/营收 | 6.8% | 4.9% |
| 现金转化率经营现金流/净利润 | 3.49× | 0.63× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $104.0M |
8季度趋势，按日历期对齐
| Q4 25 | $162.1M | $52.0M | ||
| Q3 25 | $68.2M | $71.0M | ||
| Q2 25 | $146.5M | $57.0M | ||
| Q1 25 | $53.2M | $53.0M | ||
| Q4 24 | $94.6M | $65.0M | ||
| Q3 24 | $100.3M | $85.0M | ||
| Q2 24 | $58.1M | $73.0M | ||
| Q1 24 | $139.6M | $49.0M |
| Q4 25 | $101.3M | $13.0M | ||
| Q3 25 | $-5.5M | $38.0M | ||
| Q2 25 | $27.7M | $27.0M | ||
| Q1 25 | $-500.0K | $26.0M | ||
| Q4 24 | $25.2M | $33.0M | ||
| Q3 24 | $40.2M | $59.0M | ||
| Q2 24 | $-14.7M | $49.0M | ||
| Q1 24 | $-237.1M | $24.0M |
| Q4 25 | 11.3% | 1.6% | ||
| Q3 25 | -0.7% | 5.6% | ||
| Q2 25 | 3.5% | 4.3% | ||
| Q1 25 | -0.1% | 4.2% | ||
| Q4 24 | 3.6% | 5.6% | ||
| Q3 24 | 5.8% | 9.9% | ||
| Q2 24 | -2.2% | 7.8% | ||
| Q1 24 | -36.1% | 3.9% |
| Q4 25 | 6.8% | 4.9% | ||
| Q3 25 | 8.8% | 4.9% | ||
| Q2 25 | 15.2% | 4.8% | ||
| Q1 25 | 7.3% | 4.3% | ||
| Q4 24 | 9.8% | 5.4% | ||
| Q3 24 | 8.7% | 4.4% | ||
| Q2 24 | 10.7% | 3.8% | ||
| Q1 24 | 57.4% | 4.1% |
| Q4 25 | 3.49× | 0.63× | ||
| Q3 25 | — | — | ||
| Q2 25 | 23.63× | 3.80× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | 1.58× | — | ||
| Q3 24 | 1.89× | — | ||
| Q2 24 | 3.03× | 2.70× | ||
| 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% |
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
