vs
CoStar Group（CSGP）与Hilton Grand Vacations Inc.（HGV）财务数据对比。点击上方公司名可切换其他公司
Hilton Grand Vacations 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 4.0%，领先1.1%），CoStar Group同比增速更快（26.9% vs 3.7%），Hilton Grand Vacations Inc.自由现金流更多（$147.0M vs $101.3M），过去两年CoStar Group的营收复合增速更高（17.1% vs 7.4%）
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。
希尔顿度假大酒店公司（Hilton Grand Vacations Inc.）总部位于美国佛罗里达州奥兰多，是一家跨国企业。该公司通过与希尔顿全球的独家授权协议，运营管理希尔顿旗下的分时度假和度假所有权品牌。其原为希尔顿全球的全资子公司，2017年分拆为独立上市公司。
CSGP vs HGV — 直观对比
营收规模更大
HGV
是对方的1.3倍
$899.9M
营收增速更快
CSGP
高出23.1%
3.7%
净利率更高
CSGP
高出1.1%
4.0%
自由现金流更多
HGV
多$45.7M
$101.3M
两年增速更快
CSGP
近两年复合增速
7.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $1.2B |
| 净利润 | $46.5M | $48.0M |
| 毛利率 | 78.6% | — |
| 营业利润率 | 5.5% | 7.8% |
| 净利率 | 5.2% | 4.0% |
| 营收同比 | 26.9% | 3.7% |
| 净利润同比 | -22.2% | 140.0% |
| 每股收益（稀释后） | $0.12 | $0.53 |
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CSGPHGV
| Q4 25 | $899.9M | $1.2B | ||
| Q3 25 | $833.6M | $1.2B | ||
| Q2 25 | $781.3M | $1.1B | ||
| Q1 25 | $732.2M | $1.0B | ||
| Q4 24 | $709.4M | $1.1B | ||
| Q3 24 | $692.6M | $1.2B | ||
| Q2 24 | $677.8M | $1.1B | ||
| Q1 24 | $656.4M | $1.0B |
净利润CSGPHGV
| Q4 25 | $46.5M | $48.0M | ||
| Q3 25 | $-30.9M | $25.0M | ||
| Q2 25 | $6.2M | $25.0M | ||
| Q1 25 | $-14.8M | $-17.0M | ||
| Q4 24 | $59.8M | $20.0M | ||
| Q3 24 | $53.0M | $29.0M | ||
| Q2 24 | $19.2M | $2.0M | ||
| Q1 24 | $6.7M | $-4.0M |
毛利率CSGPHGV
| 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CSGPHGV
| Q4 25 | 5.5% | 7.8% | ||
| Q3 25 | -6.1% | 3.9% | ||
| Q2 25 | -3.5% | 3.8% | ||
| Q1 25 | -5.8% | -0.6% | ||
| Q4 24 | 5.6% | 4.3% | ||
| Q3 24 | 3.4% | 7.9% | ||
| Q2 24 | -2.4% | 0.6% | ||
| Q1 24 | -6.5% | -1.3% |
净利率CSGPHGV
| Q4 25 | 5.2% | 4.0% | ||
| Q3 25 | -3.7% | 2.1% | ||
| Q2 25 | 0.8% | 2.2% | ||
| Q1 25 | -2.0% | -1.7% | ||
| Q4 24 | 8.4% | 1.7% | ||
| Q3 24 | 7.7% | 2.5% | ||
| Q2 24 | 2.8% | 0.2% | ||
| Q1 24 | 1.0% | -0.4% |
每股收益（稀释后）CSGPHGV
| Q4 25 | $0.12 | $0.53 | ||
| Q3 25 | $-0.07 | $0.28 | ||
| Q2 25 | $0.01 | $0.25 | ||
| Q1 25 | $-0.04 | $-0.17 | ||
| Q4 24 | $0.14 | $0.19 | ||
| Q3 24 | $0.13 | $0.28 | ||
| Q2 24 | $0.05 | $0.02 | ||
| 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 | $239.0M |
| 总债务越低越好 | $140.0M | $4.5B |
| 股东权益账面价值 | $8.3B | $1.3B |
| 总资产 | $10.5B | $11.5B |
| 负债/权益比越低杠杆越低 | 0.02× | 3.53× |
8季度趋势，按日历期对齐
现金及短期投资CSGPHGV
| Q4 25 | $1.6B | $239.0M | ||
| Q3 25 | $1.9B | $215.0M | ||
| Q2 25 | $3.6B | $269.0M | ||
| Q1 25 | $3.7B | $259.0M | ||
| Q4 24 | $4.7B | $328.0M | ||
| Q3 24 | — | $297.0M | ||
| Q2 24 | — | $328.0M | ||
| Q1 24 | — | $355.0M |
总债务CSGPHGV
| Q4 25 | $140.0M | $4.5B | ||
| Q3 25 | $1.0B | $4.7B | ||
| Q2 25 | $1.0B | $4.6B | ||
| Q1 25 | $1.0B | $4.5B | ||
| Q4 24 | $1.0B | $4.6B | ||
| Q3 24 | $1.0B | $5.0B | ||
| Q2 24 | $1.0B | $4.9B | ||
| Q1 24 | $1.0B | $5.1B |
股东权益CSGPHGV
| Q4 25 | $8.3B | $1.3B | ||
| Q3 25 | $8.6B | $1.4B | ||
| Q2 25 | $8.6B | $1.5B | ||
| Q1 25 | $8.6B | $1.6B | ||
| Q4 24 | $7.6B | $1.8B | ||
| Q3 24 | $7.5B | $1.8B | ||
| Q2 24 | $7.4B | $1.9B | ||
| Q1 24 | $7.3B | $2.0B |
总资产CSGPHGV
| Q4 25 | $10.5B | $11.5B | ||
| Q3 25 | $10.8B | $11.7B | ||
| Q2 25 | $10.5B | $11.7B | ||
| Q1 25 | $10.4B | $11.8B | ||
| Q4 24 | $9.3B | $11.4B | ||
| Q3 24 | $9.1B | $11.2B | ||
| Q2 24 | $9.1B | $11.5B | ||
| Q1 24 | $9.0B | $11.7B |
负债/权益比CSGPHGV
| Q4 25 | 0.02× | 3.53× | ||
| Q3 25 | 0.12× | 3.41× | ||
| Q2 25 | 0.12× | 3.07× | ||
| Q1 25 | 0.12× | 2.83× | ||
| Q4 24 | 0.13× | 2.63× | ||
| Q3 24 | 0.13× | 2.73× | ||
| Q2 24 | 0.14× | 2.55× | ||
| Q1 24 | 0.14× | 2.57× |
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 | $167.0M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $147.0M |
| 自由现金流率自由现金流/营收 | 11.3% | 12.3% |
| 资本支出强度资本支出/营收 | 6.8% | 1.7% |
| 现金转化率经营现金流/净利润 | 3.49× | 3.48× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $230.0M |
8季度趋势，按日历期对齐
经营现金流CSGPHGV
| Q4 25 | $162.1M | $167.0M | ||
| Q3 25 | $68.2M | $34.0M | ||
| Q2 25 | $146.5M | $61.0M | ||
| Q1 25 | $53.2M | $38.0M | ||
| Q4 24 | $94.6M | $105.0M | ||
| Q3 24 | $100.3M | $91.0M | ||
| Q2 24 | $58.1M | $113.0M | ||
| Q1 24 | $139.6M | $0 |
自由现金流CSGPHGV
| Q4 25 | $101.3M | $147.0M | ||
| Q3 25 | $-5.5M | $13.0M | ||
| Q2 25 | $27.7M | $46.0M | ||
| Q1 25 | $-500.0K | $24.0M | ||
| Q4 24 | $25.2M | $90.0M | ||
| Q3 24 | $40.2M | $81.0M | ||
| Q2 24 | $-14.7M | $106.0M | ||
| Q1 24 | $-237.1M | — |
自由现金流率CSGPHGV
| Q4 25 | 11.3% | 12.3% | ||
| Q3 25 | -0.7% | 1.1% | ||
| Q2 25 | 3.5% | 4.0% | ||
| Q1 25 | -0.1% | 2.4% | ||
| Q4 24 | 3.6% | 7.8% | ||
| Q3 24 | 5.8% | 6.9% | ||
| Q2 24 | -2.2% | 9.6% | ||
| Q1 24 | -36.1% | — |
资本支出强度CSGPHGV
| Q4 25 | 6.8% | 1.7% | ||
| Q3 25 | 8.8% | 1.8% | ||
| Q2 25 | 15.2% | 1.3% | ||
| Q1 25 | 7.3% | 1.4% | ||
| Q4 24 | 9.8% | 1.3% | ||
| Q3 24 | 8.7% | 0.9% | ||
| Q2 24 | 10.7% | 0.6% | ||
| Q1 24 | 57.4% | 1.0% |
现金转化率CSGPHGV
| Q4 25 | 3.49× | 3.48× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | 23.63× | 2.44× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.58× | 5.25× | ||
| Q3 24 | 1.89× | 3.14× | ||
| Q2 24 | 3.03× | 56.50× | ||
| 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% |
HGV
| Sales Of Vacation Ownership Intervals Net | $492.0M | 41% |
| Fee For Services Commissions Package Sales And Other Fees | $169.0M | 14% |
| Cost Reimbursements | $141.0M | 12% |
| Resort Management | $118.0M | 10% |
| Other | $116.0M | 10% |
| Club Management | $101.0M | 8% |
| Related Party | $42.0M | 4% |
| Ancillary Services | $13.0M | 1% |
