vs
CoStar Group（CSGP）与NCR Atleos Corp（NATL）财务数据对比。点击上方公司名可切换其他公司
NCR Atleos Corp的季度营收约是CoStar Group的1.3倍（$1.2B vs $899.9M），NCR Atleos Corp净利率更高（7.2% vs 5.2%，领先2.0%），CoStar Group同比增速更快（26.9% vs 4.0%），NCR Atleos Corp自由现金流更多（$194.0M vs $101.3M），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。
NCR Atleos Corp 前身为NCR公司（National Cash Register），是全球知名的软件、咨询与技术企业，提供多元专业服务与电子产品，业务覆盖自助服务 kiosk、销售点终端、自动柜员机、支票处理系统、条码扫描器等商用软硬件的研发与生产，服务全球各行业客户的数字化运营需求。
CSGP vs NATL — 直观对比
营收规模更大
NATL
是对方的1.3倍
$899.9M
营收增速更快
CSGP
高出22.9%
4.0%
净利率更高
NATL
高出2.0%
5.2%
自由现金流更多
NATL
多$92.7M
$101.3M
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 | $1.2B |
| 净利润 | $46.5M | $83.0M |
| 毛利率 | 78.6% | — |
| 营业利润率 | 5.5% | 13.5% |
| 净利率 | 5.2% | 7.2% |
| 营收同比 | 26.9% | 4.0% |
| 净利润同比 | -22.2% | 102.4% |
| 每股收益（稀释后） | $0.12 | $1.09 |
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CSGPNATL
| Q4 25 | $899.9M | $1.2B | ||
| Q3 25 | $833.6M | $1.1B | ||
| Q2 25 | $781.3M | $1.1B | ||
| Q1 25 | $732.2M | $979.0M | ||
| Q4 24 | $709.4M | $1.1B | ||
| Q3 24 | $692.6M | $1.1B | ||
| Q2 24 | $677.8M | $1.1B | ||
| Q1 24 | $656.4M | $1.0B |
净利润CSGPNATL
| Q4 25 | $46.5M | $83.0M | ||
| Q3 25 | $-30.9M | $26.0M | ||
| Q2 25 | $6.2M | $39.0M | ||
| Q1 25 | $-14.8M | $14.0M | ||
| Q4 24 | $59.8M | $41.0M | ||
| Q3 24 | $53.0M | $21.0M | ||
| Q2 24 | $19.2M | $27.0M | ||
| Q1 24 | $6.7M | $-9.0M |
毛利率CSGPNATL
| 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CSGPNATL
| Q4 25 | 5.5% | 13.5% | ||
| Q3 25 | -6.1% | 9.8% | ||
| Q2 25 | -3.5% | 10.8% | ||
| Q1 25 | -5.8% | 9.5% | ||
| Q4 24 | 5.6% | 13.4% | ||
| Q3 24 | 3.4% | 10.6% | ||
| Q2 24 | -2.4% | 9.8% | ||
| Q1 24 | -6.5% | 6.5% |
净利率CSGPNATL
| Q4 25 | 5.2% | 7.2% | ||
| Q3 25 | -3.7% | 2.3% | ||
| Q2 25 | 0.8% | 3.5% | ||
| Q1 25 | -2.0% | 1.4% | ||
| Q4 24 | 8.4% | 3.7% | ||
| Q3 24 | 7.7% | 2.0% | ||
| Q2 24 | 2.8% | 2.5% | ||
| Q1 24 | 1.0% | -0.9% |
每股收益（稀释后）CSGPNATL
| Q4 25 | $0.12 | $1.09 | ||
| Q3 25 | $-0.07 | $0.34 | ||
| Q2 25 | $0.01 | $0.52 | ||
| Q1 25 | $-0.04 | $0.19 | ||
| Q4 24 | $0.14 | $0.56 | ||
| Q3 24 | $0.13 | $0.28 | ||
| Q2 24 | $0.05 | $0.37 | ||
| Q1 24 | $0.02 | $-0.13 |
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 | $456.0M |
| 总债务越低越好 | $140.0M | $2.7B |
| 股东权益账面价值 | $8.3B | $403.0M |
| 总资产 | $10.5B | $5.7B |
| 负债/权益比越低杠杆越低 | 0.02× | 6.63× |
8季度趋势，按日历期对齐
现金及短期投资CSGPNATL
| Q4 25 | $1.6B | $456.0M | ||
| Q3 25 | $1.9B | $412.0M | ||
| Q2 25 | $3.6B | $357.0M | ||
| Q1 25 | $3.7B | $352.0M | ||
| Q4 24 | $4.7B | $419.0M | ||
| Q3 24 | — | $395.0M | ||
| Q2 24 | — | $374.0M | ||
| Q1 24 | — | $343.0M |
总债务CSGPNATL
| Q4 25 | $140.0M | $2.7B | ||
| Q3 25 | $1.0B | $2.8B | ||
| Q2 25 | $1.0B | $2.8B | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.0B | $2.9B | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.0B | — |
股东权益CSGPNATL
| Q4 25 | $8.3B | $403.0M | ||
| Q3 25 | $8.6B | $330.0M | ||
| Q2 25 | $8.6B | $350.0M | ||
| Q1 25 | $8.6B | $275.0M | ||
| Q4 24 | $7.6B | $219.0M | ||
| Q3 24 | $7.5B | $264.0M | ||
| Q2 24 | $7.4B | $250.0M | ||
| Q1 24 | $7.3B | $283.0M |
总资产CSGPNATL
| Q4 25 | $10.5B | $5.7B | ||
| Q3 25 | $10.8B | $5.7B | ||
| Q2 25 | $10.5B | $5.8B | ||
| Q1 25 | $10.4B | $5.7B | ||
| Q4 24 | $9.3B | $5.5B | ||
| Q3 24 | $9.1B | $5.7B | ||
| Q2 24 | $9.1B | $5.8B | ||
| Q1 24 | $9.0B | $5.8B |
负债/权益比CSGPNATL
| Q4 25 | 0.02× | 6.63× | ||
| Q3 25 | 0.12× | 8.45× | ||
| Q2 25 | 0.12× | 8.05× | ||
| Q1 25 | 0.12× | — | ||
| Q4 24 | 0.13× | 13.05× | ||
| 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 | $231.0M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $194.0M |
| 自由现金流率自由现金流/营收 | 11.3% | 16.8% |
| 资本支出强度资本支出/营收 | 6.8% | 3.2% |
| 现金转化率经营现金流/净利润 | 3.49× | 2.78× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $239.0M |
8季度趋势，按日历期对齐
经营现金流CSGPNATL
| Q4 25 | $162.1M | $231.0M | ||
| Q3 25 | $68.2M | $25.0M | ||
| Q2 25 | $146.5M | $-23.0M | ||
| Q1 25 | $53.2M | $123.0M | ||
| Q4 24 | $94.6M | $80.0M | ||
| Q3 24 | $100.3M | $107.0M | ||
| Q2 24 | $58.1M | $9.0M | ||
| Q1 24 | $139.6M | $148.0M |
自由现金流CSGPNATL
| Q4 25 | $101.3M | $194.0M | ||
| Q3 25 | $-5.5M | $-5.0M | ||
| Q2 25 | $27.7M | $-44.0M | ||
| Q1 25 | $-500.0K | $94.0M | ||
| Q4 24 | $25.2M | $62.0M | ||
| Q3 24 | $40.2M | $85.0M | ||
| Q2 24 | $-14.7M | $-14.0M | ||
| Q1 24 | $-237.1M | $124.0M |
自由现金流率CSGPNATL
| Q4 25 | 11.3% | 16.8% | ||
| Q3 25 | -0.7% | -0.4% | ||
| Q2 25 | 3.5% | -4.0% | ||
| Q1 25 | -0.1% | 9.6% | ||
| Q4 24 | 3.6% | 5.6% | ||
| Q3 24 | 5.8% | 7.9% | ||
| Q2 24 | -2.2% | -1.3% | ||
| Q1 24 | -36.1% | 11.9% |
资本支出强度CSGPNATL
| Q4 25 | 6.8% | 3.2% | ||
| Q3 25 | 8.8% | 2.7% | ||
| Q2 25 | 15.2% | 1.9% | ||
| Q1 25 | 7.3% | 3.0% | ||
| Q4 24 | 9.8% | 1.6% | ||
| Q3 24 | 8.7% | 2.1% | ||
| Q2 24 | 10.7% | 2.1% | ||
| Q1 24 | 57.4% | 2.3% |
现金转化率CSGPNATL
| Q4 25 | 3.49× | 2.78× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | 23.63× | -0.59× | ||
| Q1 25 | — | 8.79× | ||
| Q4 24 | 1.58× | 1.95× | ||
| Q3 24 | 1.89× | 5.10× | ||
| Q2 24 | 3.03× | 0.33× | ||
| 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% |
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
