vs
CoStar Group（CSGP）与Liberty Global Ltd.（LBTYA）财务数据对比。点击上方公司名可切换其他公司
Liberty Global Ltd.的季度营收约是CoStar Group的2.7倍（$2.4B vs $899.9M），Liberty Global Ltd.净利率更高（15.0% vs 5.2%，领先9.8%），CoStar Group同比增速更快（26.9% vs -3.6%），过去两年CoStar Group的营收复合增速更高（17.1% vs 12.9%）
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。
自由全球有限公司是一家英荷美合资的跨国电信企业，注册地位于百慕大，在伦敦、阿姆斯特丹和丹佛均设有总部。公司旗下拥有英国自由全球控股有限公司、荷兰自由全球有限公司及美国自由全球公司三大主体，其中英国主体为上市实体。企业由自由媒体国际业务部与UnitedGlobalCom于2005年合并成立，在全球电信服务领域拥有深厚的行业积累。
CSGP vs LBTYA — 直观对比
营收规模更大
LBTYA
是对方的2.7倍
$899.9M
营收增速更快
CSGP
高出30.5%
-3.6%
净利率更高
LBTYA
高出9.8%
5.2%
两年增速更快
CSGP
近两年复合增速
12.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $2.4B |
| 净利润 | $46.5M | $358.2M |
| 毛利率 | 78.6% | — |
| 营业利润率 | 5.5% | 1.0% |
| 净利率 | 5.2% | 15.0% |
| 营收同比 | 26.9% | -3.6% |
| 净利润同比 | -22.2% | 127.1% |
| 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CSGPLBTYA
| Q1 26 | — | $2.4B | ||
| Q4 25 | $899.9M | $1.2B | ||
| Q3 25 | $833.6M | $1.2B | ||
| Q2 25 | $781.3M | $1.3B | ||
| Q1 25 | $732.2M | $1.2B | ||
| Q4 24 | $709.4M | $-1.4B | ||
| Q3 24 | $692.6M | $1.9B | ||
| Q2 24 | $677.8M | $1.9B |
净利润CSGPLBTYA
| Q1 26 | — | $358.2M | ||
| Q4 25 | $46.5M | $-2.9B | ||
| Q3 25 | $-30.9M | $-90.7M | ||
| Q2 25 | $6.2M | $-2.8B | ||
| Q1 25 | $-14.8M | $-1.3B | ||
| Q4 24 | $59.8M | $2.2B | ||
| Q3 24 | $53.0M | $-1.4B | ||
| Q2 24 | $19.2M | $268.1M |
毛利率CSGPLBTYA
| Q1 26 | — | — | ||
| Q4 25 | 78.6% | 66.8% | ||
| Q3 25 | 79.3% | 67.5% | ||
| Q2 25 | 78.5% | 63.3% | ||
| Q1 25 | 79.1% | 65.6% | ||
| Q4 24 | 80.1% | — | ||
| Q3 24 | 79.7% | 69.4% | ||
| Q2 24 | 80.0% | 68.5% |
营业利润率CSGPLBTYA
| Q1 26 | — | 1.0% | ||
| Q4 25 | 5.5% | -8.6% | ||
| Q3 25 | -6.1% | -0.7% | ||
| Q2 25 | -3.5% | 2.3% | ||
| Q1 25 | -5.8% | 5.2% | ||
| Q4 24 | 5.6% | — | ||
| Q3 24 | 3.4% | 5.2% | ||
| Q2 24 | -2.4% | 1.0% |
净利率CSGPLBTYA
| Q1 26 | — | 15.0% | ||
| Q4 25 | 5.2% | -237.0% | ||
| Q3 25 | -3.7% | -7.5% | ||
| Q2 25 | 0.8% | -220.1% | ||
| Q1 25 | -2.0% | -114.2% | ||
| Q4 24 | 8.4% | -158.9% | ||
| Q3 24 | 7.7% | -74.1% | ||
| Q2 24 | 2.8% | 14.3% |
每股收益（稀释后）CSGPLBTYA
| Q1 26 | — | — | ||
| Q4 25 | $0.12 | $-8.66 | ||
| Q3 25 | $-0.07 | $-0.27 | ||
| Q2 25 | $0.01 | $-8.09 | ||
| Q1 25 | $-0.04 | $-3.84 | ||
| Q4 24 | $0.14 | $6.15 | ||
| Q3 24 | $0.13 | $-3.95 | ||
| Q2 24 | $0.05 | $0.71 |
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 | $-387.3M |
| 总债务越低越好 | $140.0M | — |
| 股东权益账面价值 | $8.3B | — |
| 总资产 | $10.5B | — |
| 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CSGPLBTYA
| Q1 26 | — | $-387.3M | ||
| Q4 25 | $1.6B | $2.2B | ||
| Q3 25 | $1.9B | $1.7B | ||
| Q2 25 | $3.6B | $3.1B | ||
| Q1 25 | $3.7B | $2.0B | ||
| Q4 24 | $4.7B | $2.2B | ||
| Q3 24 | — | $3.3B | ||
| Q2 24 | — | $3.2B |
总债务CSGPLBTYA
| Q1 26 | — | — | ||
| Q4 25 | $140.0M | $7.8B | ||
| Q3 25 | $1.0B | $7.8B | ||
| Q2 25 | $1.0B | $7.8B | ||
| Q1 25 | $1.0B | $8.2B | ||
| Q4 24 | $1.0B | $8.2B | ||
| Q3 24 | $1.0B | $14.9B | ||
| Q2 24 | $1.0B | $14.7B |
股东权益CSGPLBTYA
| Q1 26 | — | — | ||
| Q4 25 | $8.3B | $9.7B | ||
| Q3 25 | $8.6B | $12.7B | ||
| Q2 25 | $8.6B | $13.0B | ||
| Q1 25 | $8.6B | $12.6B | ||
| Q4 24 | $7.6B | $12.4B | ||
| Q3 24 | $7.5B | $18.7B | ||
| Q2 24 | $7.4B | $18.3B |
总资产CSGPLBTYA
| Q1 26 | — | — | ||
| Q4 25 | $10.5B | $22.6B | ||
| Q3 25 | $10.8B | $25.4B | ||
| Q2 25 | $10.5B | $27.2B | ||
| Q1 25 | $10.4B | $26.0B | ||
| Q4 24 | $9.3B | $25.4B | ||
| Q3 24 | $9.1B | $41.8B | ||
| Q2 24 | $9.1B | $40.8B |
负债/权益比CSGPLBTYA
| Q1 26 | — | — | ||
| Q4 25 | 0.02× | 0.80× | ||
| Q3 25 | 0.12× | 0.61× | ||
| Q2 25 | 0.12× | 0.60× | ||
| Q1 25 | 0.12× | 0.65× | ||
| Q4 24 | 0.13× | 0.66× | ||
| Q3 24 | 0.13× | 0.80× | ||
| Q2 24 | 0.14× | 0.80× |
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 | $107.6M |
| 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% | 1.5% |
| 现金转化率经营现金流/净利润 | 3.49× | 0.30× |
| 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CSGPLBTYA
| Q1 26 | — | $107.6M | ||
| Q4 25 | $162.1M | $630.9M | ||
| Q3 25 | $68.2M | $301.8M | ||
| Q2 25 | $146.5M | $149.2M | ||
| Q1 25 | $53.2M | $129.2M | ||
| Q4 24 | $94.6M | $791.6M | ||
| Q3 24 | $100.3M | $449.5M | ||
| Q2 24 | $58.1M | $546.1M |
自由现金流CSGPLBTYA
| Q1 26 | — | — | ||
| Q4 25 | $101.3M | $193.3M | ||
| Q3 25 | $-5.5M | $-41.1M | ||
| Q2 25 | $27.7M | $-170.1M | ||
| Q1 25 | $-500.0K | $-114.1M | ||
| Q4 24 | $25.2M | $712.9M | ||
| Q3 24 | $40.2M | $102.4M | ||
| Q2 24 | $-14.7M | $256.8M |
自由现金流率CSGPLBTYA
| Q1 26 | — | — | ||
| Q4 25 | 11.3% | 15.7% | ||
| Q3 25 | -0.7% | -3.4% | ||
| Q2 25 | 3.5% | -13.4% | ||
| Q1 25 | -0.1% | -9.7% | ||
| Q4 24 | 3.6% | -50.5% | ||
| Q3 24 | 5.8% | 5.3% | ||
| Q2 24 | -2.2% | 13.7% |
资本支出强度CSGPLBTYA
| Q1 26 | — | 1.5% | ||
| Q4 25 | 6.8% | 35.5% | ||
| Q3 25 | 8.8% | 28.4% | ||
| Q2 25 | 15.2% | 25.2% | ||
| Q1 25 | 7.3% | 20.8% | ||
| Q4 24 | 9.8% | -5.6% | ||
| Q3 24 | 8.7% | 17.9% | ||
| Q2 24 | 10.7% | 15.4% |
现金转化率CSGPLBTYA
| Q1 26 | — | 0.30× | ||
| Q4 25 | 3.49× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 23.63× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.58× | 0.35× | ||
| Q3 24 | 1.89× | — | ||
| Q2 24 | 3.03× | 2.04× |
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% |
LBTYA
| Mobile Service | $775.2M | 32% |
| Fixed Service | $772.0M | 32% |
| Business | $308.7M | 13% |
| Wholesale | $256.9M | 11% |
| Business Service | $233.2M | 10% |
