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CoStar Group（CSGP）与欢聚集团（JOYY）财务数据对比。点击上方公司名可切换其他公司
欢聚集团的季度营收约是CoStar Group的1.7倍（$1.5B vs $899.9M），欢聚集团净利率更高（10.4% vs 5.2%，领先5.2%），过去两年CoStar Group的营收复合增速更高（17.1% vs 16.8%）
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。
欢聚集团是全球化社交媒体科技企业，主营直播、短视频、社交互动类数字娱乐服务，核心产品覆盖东南亚、中东、拉美等多个新兴市场，为全球用户提供丰富的沉浸式互动内容体验。
CSGP vs JOYY — 直观对比
营收规模更大
JOYY
是对方的1.7倍
$899.9M
净利率更高
JOYY
高出5.2%
5.2%
两年增速更快
CSGP
近两年复合增速
16.8%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $1.5B |
| 净利润 | $46.5M | $160.1M |
| 毛利率 | 78.6% | 36.1% |
| 营业利润率 | 5.5% | 2.4% |
| 净利率 | 5.2% | 10.4% |
| 营收同比 | 26.9% | — |
| 净利润同比 | -22.2% | — |
| 每股收益（稀释后） | $0.12 | — |
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CSGPJOYY
| Q4 25 | $899.9M | — | ||
| Q3 25 | $833.6M | $1.5B | ||
| Q2 25 | $781.3M | $1.0B | ||
| Q1 25 | $732.2M | $494.4M | ||
| Q4 24 | $709.4M | — | ||
| Q3 24 | $692.6M | $1.7B | ||
| Q2 24 | $677.8M | $1.1B | ||
| Q1 24 | $656.4M | $564.6M |
净利润CSGPJOYY
| Q4 25 | $46.5M | — | ||
| Q3 25 | $-30.9M | $160.1M | ||
| Q2 25 | $6.2M | $100.9M | ||
| Q1 25 | $-14.8M | $42.9M | ||
| Q4 24 | $59.8M | — | ||
| Q3 24 | $53.0M | $143.9M | ||
| Q2 24 | $19.2M | $87.9M | ||
| Q1 24 | $6.7M | $40.2M |
毛利率CSGPJOYY
| Q4 25 | 78.6% | — | ||
| Q3 25 | 79.3% | 36.1% | ||
| Q2 25 | 78.5% | 36.3% | ||
| Q1 25 | 79.1% | 36.1% | ||
| Q4 24 | 80.1% | — | ||
| Q3 24 | 79.7% | 35.7% | ||
| Q2 24 | 80.0% | 34.9% | ||
| Q1 24 | 78.5% | 34.6% |
营业利润率CSGPJOYY
| Q4 25 | 5.5% | — | ||
| Q3 25 | -6.1% | 2.4% | ||
| Q2 25 | -3.5% | 1.8% | ||
| Q1 25 | -5.8% | 2.5% | ||
| Q4 24 | 5.6% | — | ||
| Q3 24 | 3.4% | 1.3% | ||
| Q2 24 | -2.4% | 0.5% | ||
| Q1 24 | -6.5% | 0.6% |
净利率CSGPJOYY
| Q4 25 | 5.2% | — | ||
| Q3 25 | -3.7% | 10.4% | ||
| Q2 25 | 0.8% | 10.1% | ||
| Q1 25 | -2.0% | 8.7% | ||
| Q4 24 | 8.4% | — | ||
| Q3 24 | 7.7% | 8.5% | ||
| Q2 24 | 2.8% | 7.8% | ||
| Q1 24 | 1.0% | 7.1% |
每股收益（稀释后）CSGPJOYY
| Q4 25 | $0.12 | — | ||
| Q3 25 | $-0.07 | — | ||
| Q2 25 | $0.01 | — | ||
| Q1 25 | $-0.04 | — | ||
| Q4 24 | $0.14 | — | ||
| Q3 24 | $0.13 | — | ||
| 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 | $383.8M |
| 总债务越低越好 | $140.0M | — |
| 股东权益账面价值 | $8.3B | $6.6B |
| 总资产 | $10.5B | $7.5B |
| 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CSGPJOYY
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.9B | $383.8M | ||
| Q2 25 | $3.6B | $401.0M | ||
| Q1 25 | $3.7B | $801.5M | ||
| Q4 24 | $4.7B | — | ||
| Q3 24 | — | $481.8M | ||
| Q2 24 | — | $607.1M | ||
| Q1 24 | — | $728.2M |
总债务CSGPJOYY
| 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CSGPJOYY
| Q4 25 | $8.3B | — | ||
| Q3 25 | $8.6B | $6.6B | ||
| Q2 25 | $8.6B | $6.6B | ||
| Q1 25 | $8.6B | $6.6B | ||
| Q4 24 | $7.6B | — | ||
| Q3 24 | $7.5B | $5.3B | ||
| Q2 24 | $7.4B | $5.3B | ||
| Q1 24 | $7.3B | $5.3B |
总资产CSGPJOYY
| Q4 25 | $10.5B | — | ||
| Q3 25 | $10.8B | $7.5B | ||
| Q2 25 | $10.5B | $7.5B | ||
| Q1 25 | $10.4B | $7.6B | ||
| Q4 24 | $9.3B | — | ||
| Q3 24 | $9.1B | $8.1B | ||
| Q2 24 | $9.1B | $8.1B | ||
| Q1 24 | $9.0B | $8.6B |
负债/权益比CSGPJOYY
| 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 | — |
| 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% | — |
| 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CSGPJOYY
| Q4 25 | $162.1M | — | ||
| Q3 25 | $68.2M | — | ||
| Q2 25 | $146.5M | — | ||
| Q1 25 | $53.2M | — | ||
| Q4 24 | $94.6M | — | ||
| Q3 24 | $100.3M | — | ||
| Q2 24 | $58.1M | — | ||
| Q1 24 | $139.6M | — |
自由现金流CSGPJOYY
| Q4 25 | $101.3M | — | ||
| Q3 25 | $-5.5M | — | ||
| Q2 25 | $27.7M | — | ||
| Q1 25 | $-500.0K | — | ||
| Q4 24 | $25.2M | — | ||
| Q3 24 | $40.2M | — | ||
| Q2 24 | $-14.7M | — | ||
| Q1 24 | $-237.1M | — |
自由现金流率CSGPJOYY
| Q4 25 | 11.3% | — | ||
| Q3 25 | -0.7% | — | ||
| Q2 25 | 3.5% | — | ||
| Q1 25 | -0.1% | — | ||
| Q4 24 | 3.6% | — | ||
| Q3 24 | 5.8% | — | ||
| Q2 24 | -2.2% | — | ||
| Q1 24 | -36.1% | — |
资本支出强度CSGPJOYY
| Q4 25 | 6.8% | — | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | 15.2% | — | ||
| Q1 25 | 7.3% | — | ||
| Q4 24 | 9.8% | — | ||
| Q3 24 | 8.7% | — | ||
| Q2 24 | 10.7% | — | ||
| Q1 24 | 57.4% | — |
现金转化率CSGPJOYY
| 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% |
JOYY
| Live streaming | $1.1B | 74% |
| Advertising | $297.3M | 19% |
| Others | $109.8M | 7% |
