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CoStar Group（CSGP）与Stride, Inc.（LRN）财务数据对比。点击上方公司名可切换其他公司
CoStar Group的季度营收约是Stride, Inc.的1.4倍（$899.9M vs $629.9M），Stride, Inc.净利率更高（14.1% vs 5.2%，领先8.9%），CoStar Group同比增速更快（26.9% vs 2.7%），过去两年CoStar Group的营收复合增速更高（17.1% vs 6.9%）
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。
Stride, Inc.是一家营利性教育机构，主营在线及混合式教育项目。作为教育管理机构，其为K12阶段公立学校学生提供替代传统线下教学的在线教育方案，同时也开设职业学习课程。截至2012年，这家上市企业是全球招生规模最大的教育管理机构。
CSGP vs LRN — 直观对比
营收规模更大
CSGP
是对方的1.4倍
$629.9M
营收增速更快
CSGP
高出24.2%
2.7%
净利率更高
LRN
高出8.9%
5.2%
两年增速更快
CSGP
近两年复合增速
6.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $629.9M |
| 净利润 | $46.5M | $88.5M |
| 毛利率 | 78.6% | — |
| 营业利润率 | 5.5% | 20.5% |
| 净利率 | 5.2% | 14.1% |
| 营收同比 | 26.9% | 2.7% |
| 净利润同比 | -22.2% | 8.5% |
| 每股收益（稀释后） | $0.12 | $1.93 |
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CSGPLRN
| Q3 26 | — | $629.9M | ||
| Q4 25 | $899.9M | $631.3M | ||
| Q3 25 | $833.6M | $620.9M | ||
| Q2 25 | $781.3M | $653.6M | ||
| Q1 25 | $732.2M | $613.4M | ||
| Q4 24 | $709.4M | $587.2M | ||
| Q3 24 | $692.6M | $551.1M | ||
| Q2 24 | $677.8M | — |
净利润CSGPLRN
| Q3 26 | — | $88.5M | ||
| Q4 25 | $46.5M | $99.5M | ||
| Q3 25 | $-30.9M | $68.8M | ||
| Q2 25 | $6.2M | $51.3M | ||
| Q1 25 | $-14.8M | $99.3M | ||
| Q4 24 | $59.8M | $96.4M | ||
| Q3 24 | $53.0M | $40.9M | ||
| Q2 24 | $19.2M | — |
毛利率CSGPLRN
| Q3 26 | — | — | ||
| Q4 25 | 78.6% | 41.1% | ||
| Q3 25 | 79.3% | 39.0% | ||
| Q2 25 | 78.5% | 36.6% | ||
| Q1 25 | 79.1% | 40.6% | ||
| Q4 24 | 80.1% | 40.8% | ||
| Q3 24 | 79.7% | 39.2% | ||
| Q2 24 | 80.0% | — |
营业利润率CSGPLRN
| Q3 26 | — | 20.5% | ||
| Q4 25 | 5.5% | 23.3% | ||
| Q3 25 | -6.1% | 11.1% | ||
| Q2 25 | -3.5% | 8.7% | ||
| Q1 25 | -5.8% | 21.3% | ||
| Q4 24 | 5.6% | 21.3% | ||
| Q3 24 | 3.4% | 8.6% | ||
| Q2 24 | -2.4% | — |
净利率CSGPLRN
| Q3 26 | — | 14.1% | ||
| Q4 25 | 5.2% | 15.8% | ||
| Q3 25 | -3.7% | 11.1% | ||
| Q2 25 | 0.8% | 7.9% | ||
| Q1 25 | -2.0% | 16.2% | ||
| Q4 24 | 8.4% | 16.4% | ||
| Q3 24 | 7.7% | 7.4% | ||
| Q2 24 | 2.8% | — |
每股收益（稀释后）CSGPLRN
| Q3 26 | — | $1.93 | ||
| Q4 25 | $0.12 | $2.12 | ||
| Q3 25 | $-0.07 | $1.40 | ||
| Q2 25 | $0.01 | $0.96 | ||
| Q1 25 | $-0.04 | $2.02 | ||
| Q4 24 | $0.14 | $2.03 | ||
| Q3 24 | $0.13 | $0.94 | ||
| Q2 24 | $0.05 | — |
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 | $614.0M |
| 总债务越低越好 | $140.0M | $417.6M |
| 股东权益账面价值 | $8.3B | $1.6B |
| 总资产 | $10.5B | $2.4B |
| 负债/权益比越低杠杆越低 | 0.02× | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资CSGPLRN
| Q3 26 | — | $614.0M | ||
| Q4 25 | $1.6B | $625.7M | ||
| Q3 25 | $1.9B | $715.1M | ||
| Q2 25 | $3.6B | $985.3M | ||
| Q1 25 | $3.7B | $723.7M | ||
| Q4 24 | $4.7B | $717.5M | ||
| Q3 24 | — | $522.2M | ||
| Q2 24 | — | — |
总债务CSGPLRN
| Q3 26 | — | $417.6M | ||
| Q4 25 | $140.0M | $417.2M | ||
| Q3 25 | $1.0B | $416.8M | ||
| Q2 25 | $1.0B | $416.3M | ||
| Q1 25 | $1.0B | $415.9M | ||
| Q4 24 | $1.0B | $415.5M | ||
| Q3 24 | $1.0B | $415.1M | ||
| Q2 24 | $1.0B | — |
股东权益CSGPLRN
| Q3 26 | — | $1.6B | ||
| Q4 25 | $8.3B | $1.5B | ||
| Q3 25 | $8.6B | $1.5B | ||
| Q2 25 | $8.6B | $1.5B | ||
| Q1 25 | $8.6B | $1.4B | ||
| Q4 24 | $7.6B | $1.3B | ||
| Q3 24 | $7.5B | $1.2B | ||
| Q2 24 | $7.4B | — |
总资产CSGPLRN
| Q3 26 | — | $2.4B | ||
| Q4 25 | $10.5B | $2.3B | ||
| Q3 25 | $10.8B | $2.3B | ||
| Q2 25 | $10.5B | $2.3B | ||
| Q1 25 | $10.4B | $2.2B | ||
| Q4 24 | $9.3B | $2.1B | ||
| Q3 24 | $9.1B | $2.0B | ||
| Q2 24 | $9.1B | — |
负债/权益比CSGPLRN
| Q3 26 | — | 0.25× | ||
| Q4 25 | 0.02× | 0.27× | ||
| Q3 25 | 0.12× | 0.27× | ||
| Q2 25 | 0.12× | 0.28× | ||
| Q1 25 | 0.12× | 0.29× | ||
| Q4 24 | 0.13× | 0.32× | ||
| Q3 24 | 0.13× | 0.34× | ||
| Q2 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 | $117.0M |
| 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× | 1.32× |
| 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CSGPLRN
| Q3 26 | — | $117.0M | ||
| Q4 25 | $162.1M | $91.8M | ||
| Q3 25 | $68.2M | $-195.8M | ||
| Q2 25 | $146.5M | $298.3M | ||
| Q1 25 | $53.2M | $53.1M | ||
| Q4 24 | $94.6M | $223.4M | ||
| Q3 24 | $100.3M | $-142.0M | ||
| Q2 24 | $58.1M | — |
自由现金流CSGPLRN
| Q3 26 | — | — | ||
| Q4 25 | $101.3M | $91.6M | ||
| Q3 25 | $-5.5M | $-196.1M | ||
| Q2 25 | $27.7M | $297.9M | ||
| Q1 25 | $-500.0K | $52.9M | ||
| Q4 24 | $25.2M | $222.9M | ||
| Q3 24 | $40.2M | $-142.7M | ||
| Q2 24 | $-14.7M | — |
自由现金流率CSGPLRN
| Q3 26 | — | — | ||
| Q4 25 | 11.3% | 14.5% | ||
| Q3 25 | -0.7% | -31.6% | ||
| Q2 25 | 3.5% | 45.6% | ||
| Q1 25 | -0.1% | 8.6% | ||
| Q4 24 | 3.6% | 38.0% | ||
| Q3 24 | 5.8% | -25.9% | ||
| Q2 24 | -2.2% | — |
资本支出强度CSGPLRN
| Q3 26 | — | — | ||
| Q4 25 | 6.8% | 0.0% | ||
| Q3 25 | 8.8% | 0.0% | ||
| Q2 25 | 15.2% | 0.1% | ||
| Q1 25 | 7.3% | 0.0% | ||
| Q4 24 | 9.8% | 0.1% | ||
| Q3 24 | 8.7% | 0.1% | ||
| Q2 24 | 10.7% | — |
现金转化率CSGPLRN
| Q3 26 | — | 1.32× | ||
| Q4 25 | 3.49× | 0.92× | ||
| Q3 25 | — | -2.85× | ||
| Q2 25 | 23.63× | 5.81× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | 1.58× | 2.32× | ||
| Q3 24 | 1.89× | -3.47× | ||
| Q2 24 | 3.03× | — |
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% |
LRN
| General Education | $357.5M | 57% |
| Middle - High School | $259.5M | 41% |
| Adult | $12.9M | 2% |
