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CoStar Group（CSGP）与孩之宝（HAS）财务数据对比。点击上方公司名可切换其他公司
孩之宝的季度营收约是CoStar Group的1.6倍（$1.4B vs $899.9M），孩之宝净利率更高（13.9% vs 5.2%，领先8.8%），孩之宝同比增速更快（31.3% vs 26.9%），孩之宝自由现金流更多（$389.5M vs $101.3M），过去两年孩之宝的营收复合增速更高（38.2% 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。
孩之宝是1923年12月6日成立的美国跨国玩具制造与娱乐控股企业，总部位于罗德岛州波塔基特。旗下拥有Kenner、米尔顿·布拉德利、派克兄弟、威世智等知名品牌，持有大量热门IP商标权，业务覆盖玩具生产、游戏开发、娱乐内容出品等多个领域。
CSGP vs HAS — 直观对比
营收规模更大
HAS
是对方的1.6倍
$899.9M
营收增速更快
HAS
高出4.4%
26.9%
净利率更高
HAS
高出8.8%
5.2%
自由现金流更多
HAS
多$288.2M
$101.3M
两年增速更快
HAS
近两年复合增速
17.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $1.4B |
| 净利润 | $46.5M | $201.6M |
| 毛利率 | 78.6% | 68.7% |
| 营业利润率 | 5.5% | 20.6% |
| 净利率 | 5.2% | 13.9% |
| 营收同比 | 26.9% | 31.3% |
| 净利润同比 | -22.2% | 687.8% |
| 每股收益（稀释后） | $0.12 | $1.46 |
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CSGPHAS
| Q4 25 | $899.9M | $1.4B | ||
| Q3 25 | $833.6M | $1.4B | ||
| Q2 25 | $781.3M | $980.8M | ||
| Q1 25 | $732.2M | $887.1M | ||
| Q4 24 | $709.4M | $1.1B | ||
| Q3 24 | $692.6M | $1.3B | ||
| Q2 24 | $677.8M | $995.3M | ||
| Q1 24 | $656.4M | $757.3M |
净利润CSGPHAS
| Q4 25 | $46.5M | $201.6M | ||
| Q3 25 | $-30.9M | $233.2M | ||
| Q2 25 | $6.2M | $-855.8M | ||
| Q1 25 | $-14.8M | $98.6M | ||
| Q4 24 | $59.8M | $-34.3M | ||
| Q3 24 | $53.0M | $223.2M | ||
| Q2 24 | $19.2M | $138.5M | ||
| Q1 24 | $6.7M | $58.2M |
毛利率CSGPHAS
| Q4 25 | 78.6% | 68.7% | ||
| Q3 25 | 79.3% | 70.1% | ||
| Q2 25 | 78.5% | 77.0% | ||
| Q1 25 | 79.1% | 76.9% | ||
| Q4 24 | 80.1% | 67.4% | ||
| Q3 24 | 79.7% | 70.4% | ||
| Q2 24 | 80.0% | 76.1% | ||
| Q1 24 | 78.5% | 73.0% |
营业利润率CSGPHAS
| Q4 25 | 5.5% | 20.6% | ||
| Q3 25 | -6.1% | 24.6% | ||
| Q2 25 | -3.5% | -81.4% | ||
| Q1 25 | -5.8% | 19.2% | ||
| Q4 24 | 5.6% | 5.4% | ||
| Q3 24 | 3.4% | 23.6% | ||
| Q2 24 | -2.4% | 21.3% | ||
| Q1 24 | -6.5% | 15.3% |
净利率CSGPHAS
| Q4 25 | 5.2% | 13.9% | ||
| Q3 25 | -3.7% | 16.8% | ||
| Q2 25 | 0.8% | -87.3% | ||
| Q1 25 | -2.0% | 11.1% | ||
| Q4 24 | 8.4% | -3.1% | ||
| Q3 24 | 7.7% | 17.4% | ||
| Q2 24 | 2.8% | 13.9% | ||
| Q1 24 | 1.0% | 7.7% |
每股收益（稀释后）CSGPHAS
| Q4 25 | $0.12 | $1.46 | ||
| Q3 25 | $-0.07 | $1.64 | ||
| Q2 25 | $0.01 | $-6.10 | ||
| Q1 25 | $-0.04 | $0.70 | ||
| Q4 24 | $0.14 | $-0.25 | ||
| Q3 24 | $0.13 | $1.59 | ||
| Q2 24 | $0.05 | $0.99 | ||
| Q1 24 | $0.02 | $0.42 |
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 | — |
| 总债务越低越好 | $140.0M | — |
| 股东权益账面价值 | $8.3B | $565.5M |
| 总资产 | $10.5B | $5.6B |
| 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CSGPHAS
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $3.6B | — | ||
| Q1 25 | $3.7B | — | ||
| Q4 24 | $4.7B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
总债务CSGPHAS
| Q4 25 | $140.0M | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.0B | — |
股东权益CSGPHAS
| Q4 25 | $8.3B | $565.5M | ||
| Q3 25 | $8.6B | $433.8M | ||
| Q2 25 | $8.6B | $269.7M | ||
| Q1 25 | $8.6B | $1.2B | ||
| Q4 24 | $7.6B | $1.2B | ||
| Q3 24 | $7.5B | $1.3B | ||
| Q2 24 | $7.4B | $1.2B | ||
| Q1 24 | $7.3B | $1.0B |
总资产CSGPHAS
| Q4 25 | $10.5B | $5.6B | ||
| Q3 25 | $10.8B | $5.5B | ||
| Q2 25 | $10.5B | $5.2B | ||
| Q1 25 | $10.4B | $6.0B | ||
| Q4 24 | $9.3B | $6.3B | ||
| Q3 24 | $9.1B | $7.2B | ||
| Q2 24 | $9.1B | $6.9B | ||
| Q1 24 | $9.0B | $6.2B |
负债/权益比CSGPHAS
| 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× | — | ||
| 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 | $403.2M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $389.5M |
| 自由现金流率自由现金流/营收 | 11.3% | 26.9% |
| 资本支出强度资本支出/营收 | 6.8% | 0.9% |
| 现金转化率经营现金流/净利润 | 3.49× | 2.00× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $829.9M |
8季度趋势，按日历期对齐
经营现金流CSGPHAS
| Q4 25 | $162.1M | $403.2M | ||
| Q3 25 | $68.2M | $280.6M | ||
| Q2 25 | $146.5M | $71.3M | ||
| Q1 25 | $53.2M | $138.1M | ||
| Q4 24 | $94.6M | $259.8M | ||
| Q3 24 | $100.3M | $222.5M | ||
| Q2 24 | $58.1M | $187.3M | ||
| Q1 24 | $139.6M | $177.8M |
自由现金流CSGPHAS
| Q4 25 | $101.3M | $389.5M | ||
| Q3 25 | $-5.5M | $260.9M | ||
| Q2 25 | $27.7M | $55.2M | ||
| Q1 25 | $-500.0K | $124.3M | ||
| Q4 24 | $25.2M | $200.8M | ||
| Q3 24 | $40.2M | $174.0M | ||
| Q2 24 | $-14.7M | $135.4M | ||
| Q1 24 | $-237.1M | $132.0M |
自由现金流率CSGPHAS
| Q4 25 | 11.3% | 26.9% | ||
| Q3 25 | -0.7% | 18.8% | ||
| Q2 25 | 3.5% | 5.6% | ||
| Q1 25 | -0.1% | 14.0% | ||
| Q4 24 | 3.6% | 18.2% | ||
| Q3 24 | 5.8% | 13.6% | ||
| Q2 24 | -2.2% | 13.6% | ||
| Q1 24 | -36.1% | 17.4% |
资本支出强度CSGPHAS
| Q4 25 | 6.8% | 0.9% | ||
| Q3 25 | 8.8% | 1.4% | ||
| Q2 25 | 15.2% | 1.6% | ||
| Q1 25 | 7.3% | 1.6% | ||
| Q4 24 | 9.8% | 5.4% | ||
| Q3 24 | 8.7% | 3.8% | ||
| Q2 24 | 10.7% | 5.2% | ||
| Q1 24 | 57.4% | 6.0% |
现金转化率CSGPHAS
| Q4 25 | 3.49× | 2.00× | ||
| Q3 25 | — | 1.20× | ||
| Q2 25 | 23.63× | — | ||
| Q1 25 | — | 1.40× | ||
| Q4 24 | 1.58× | — | ||
| Q3 24 | 1.89× | 1.00× | ||
| Q2 24 | 3.03× | 1.35× | ||
| Q1 24 | 20.84× | 3.05× |
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% |
HAS
| Grow Brands | $1.1B | 75% |
| Optimize Brands | $188.7M | 13% |
| Digital And Licensing Gaming | $135.7M | 9% |
| Class Of Principal Product Family Brands | $13.1M | 1% |
| Filmand TV | $2.4M | 0% |
