vs
CoStar Group（CSGP）与林肯电气（LECO）财务数据对比。点击上方公司名可切换其他公司
林肯电气的季度营收约是CoStar Group的1.2倍（$1.1B vs $899.9M），林肯电气净利率更高（12.6% vs 5.2%，领先7.4%），CoStar Group同比增速更快（26.9% vs 5.5%），CoStar Group自由现金流更多（$101.3M vs $52.0M），过去两年CoStar Group的营收复合增速更高（17.1% vs 4.9%）
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。
林肯电气是美国跨国焊接产品制造企业，总部位于俄亥俄州欧几里得市，主营弧焊设备、焊接配件、等离子及氧燃料切割设备、焊接机器人系统等，业务覆盖160余个国家和地区，在全球设有42个生产基地，同时在19个国家布局了生产联盟及合资企业。
CSGP vs LECO — 直观对比
营收规模更大
LECO
是对方的1.2倍
$899.9M
营收增速更快
CSGP
高出21.3%
5.5%
净利率更高
LECO
高出7.4%
5.2%
自由现金流更多
CSGP
多$49.3M
$52.0M
两年增速更快
CSGP
近两年复合增速
4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $1.1B |
| 净利润 | $46.5M | $136.0M |
| 毛利率 | 78.6% | 34.7% |
| 营业利润率 | 5.5% | 17.1% |
| 净利率 | 5.2% | 12.6% |
| 营收同比 | 26.9% | 5.5% |
| 净利润同比 | -22.2% | -3.0% |
| 每股收益（稀释后） | $0.12 | $2.45 |
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CSGPLECO
| Q4 25 | $899.9M | $1.1B | ||
| Q3 25 | $833.6M | $1.1B | ||
| Q2 25 | $781.3M | $1.1B | ||
| Q1 25 | $732.2M | $1.0B | ||
| Q4 24 | $709.4M | $1.0B | ||
| Q3 24 | $692.6M | $983.8M | ||
| Q2 24 | $677.8M | $1.0B | ||
| Q1 24 | $656.4M | $981.2M |
净利润CSGPLECO
| Q4 25 | $46.5M | $136.0M | ||
| Q3 25 | $-30.9M | $122.6M | ||
| Q2 25 | $6.2M | $143.4M | ||
| Q1 25 | $-14.8M | $118.5M | ||
| Q4 24 | $59.8M | $140.2M | ||
| Q3 24 | $53.0M | $100.8M | ||
| Q2 24 | $19.2M | $101.7M | ||
| Q1 24 | $6.7M | $123.4M |
毛利率CSGPLECO
| Q4 25 | 78.6% | 34.7% | ||
| Q3 25 | 79.3% | 36.7% | ||
| Q2 25 | 78.5% | 37.3% | ||
| Q1 25 | 79.1% | 36.4% | ||
| Q4 24 | 80.1% | 36.1% | ||
| Q3 24 | 79.7% | 35.8% | ||
| Q2 24 | 80.0% | 37.6% | ||
| Q1 24 | 78.5% | 37.5% |
营业利润率CSGPLECO
| Q4 25 | 5.5% | 17.1% | ||
| Q3 25 | -6.1% | 16.6% | ||
| Q2 25 | -3.5% | 17.6% | ||
| Q1 25 | -5.8% | 16.4% | ||
| Q4 24 | 5.6% | 17.3% | ||
| Q3 24 | 3.4% | 14.8% | ||
| Q2 24 | -2.4% | 14.6% | ||
| Q1 24 | -6.5% | 16.8% |
净利率CSGPLECO
| Q4 25 | 5.2% | 12.6% | ||
| Q3 25 | -3.7% | 11.6% | ||
| Q2 25 | 0.8% | 13.2% | ||
| Q1 25 | -2.0% | 11.8% | ||
| Q4 24 | 8.4% | 13.7% | ||
| Q3 24 | 7.7% | 10.2% | ||
| Q2 24 | 2.8% | 10.0% | ||
| Q1 24 | 1.0% | 12.6% |
每股收益（稀释后）CSGPLECO
| Q4 25 | $0.12 | $2.45 | ||
| Q3 25 | $-0.07 | $2.21 | ||
| Q2 25 | $0.01 | $2.56 | ||
| Q1 25 | $-0.04 | $2.10 | ||
| Q4 24 | $0.14 | $2.47 | ||
| Q3 24 | $0.13 | $1.77 | ||
| Q2 24 | $0.05 | $1.77 | ||
| Q1 24 | $0.02 | $2.14 |
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 | $308.8M |
| 总债务越低越好 | $140.0M | — |
| 股东权益账面价值 | $8.3B | $1.5B |
| 总资产 | $10.5B | $3.8B |
| 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CSGPLECO
| Q4 25 | $1.6B | $308.8M | ||
| Q3 25 | $1.9B | $293.0M | ||
| Q2 25 | $3.6B | $299.5M | ||
| Q1 25 | $3.7B | $394.7M | ||
| Q4 24 | $4.7B | $377.3M | ||
| Q3 24 | — | $404.2M | ||
| Q2 24 | — | $272.7M | ||
| Q1 24 | — | $375.0M |
总债务CSGPLECO
| 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CSGPLECO
| Q4 25 | $8.3B | $1.5B | ||
| Q3 25 | $8.6B | $1.4B | ||
| Q2 25 | $8.6B | $1.4B | ||
| Q1 25 | $8.6B | $1.3B | ||
| Q4 24 | $7.6B | $1.3B | ||
| Q3 24 | $7.5B | $1.3B | ||
| Q2 24 | $7.4B | $1.3B | ||
| Q1 24 | $7.3B | $1.3B |
总资产CSGPLECO
| Q4 25 | $10.5B | $3.8B | ||
| Q3 25 | $10.8B | $3.8B | ||
| Q2 25 | $10.5B | $3.7B | ||
| Q1 25 | $10.4B | $3.6B | ||
| Q4 24 | $9.3B | $3.5B | ||
| Q3 24 | $9.1B | $3.7B | ||
| Q2 24 | $9.1B | $3.4B | ||
| Q1 24 | $9.0B | $3.4B |
负债/权益比CSGPLECO
| 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 | $95.0M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $52.0M |
| 自由现金流率自由现金流/营收 | 11.3% | 4.8% |
| 资本支出强度资本支出/营收 | 6.8% | 4.0% |
| 现金转化率经营现金流/净利润 | 3.49× | 0.70× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $534.2M |
8季度趋势，按日历期对齐
经营现金流CSGPLECO
| Q4 25 | $162.1M | $95.0M | ||
| Q3 25 | $68.2M | $236.7M | ||
| Q2 25 | $146.5M | $143.8M | ||
| Q1 25 | $53.2M | $185.7M | ||
| Q4 24 | $94.6M | $95.8M | ||
| Q3 24 | $100.3M | $199.2M | ||
| Q2 24 | $58.1M | $170.7M | ||
| Q1 24 | $139.6M | $133.3M |
自由现金流CSGPLECO
| Q4 25 | $101.3M | $52.0M | ||
| Q3 25 | $-5.5M | $205.1M | ||
| Q2 25 | $27.7M | $118.4M | ||
| Q1 25 | $-500.0K | $158.7M | ||
| Q4 24 | $25.2M | $64.3M | ||
| Q3 24 | $40.2M | $163.5M | ||
| Q2 24 | $-14.7M | $147.5M | ||
| Q1 24 | $-237.1M | $107.0M |
自由现金流率CSGPLECO
| Q4 25 | 11.3% | 4.8% | ||
| Q3 25 | -0.7% | 19.3% | ||
| Q2 25 | 3.5% | 10.9% | ||
| Q1 25 | -0.1% | 15.8% | ||
| Q4 24 | 3.6% | 6.3% | ||
| Q3 24 | 5.8% | 16.6% | ||
| Q2 24 | -2.2% | 14.4% | ||
| Q1 24 | -36.1% | 10.9% |
资本支出强度CSGPLECO
| Q4 25 | 6.8% | 4.0% | ||
| Q3 25 | 8.8% | 3.0% | ||
| Q2 25 | 15.2% | 2.3% | ||
| Q1 25 | 7.3% | 2.7% | ||
| Q4 24 | 9.8% | 3.1% | ||
| Q3 24 | 8.7% | 3.6% | ||
| Q2 24 | 10.7% | 2.3% | ||
| Q1 24 | 57.4% | 2.7% |
现金转化率CSGPLECO
| Q4 25 | 3.49× | 0.70× | ||
| Q3 25 | — | 1.93× | ||
| Q2 25 | 23.63× | 1.00× | ||
| Q1 25 | — | 1.57× | ||
| Q4 24 | 1.58× | 0.68× | ||
| Q3 24 | 1.89× | 1.98× | ||
| Q2 24 | 3.03× | 1.68× | ||
| Q1 24 | 20.84× | 1.08× |
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% |
LECO
| Americas Welding | $681.9M | 63% |
| International Welding | $259.4M | 24% |
| Harris Products Group | $137.4M | 13% |
