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CoStar Group（CSGP）与Cloudflare, Inc.（NET）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Cloudflare, Inc.的1.5倍（$899.9M vs $614.5M），CoStar Group净利率更高（5.2% vs -2.0%，领先7.1%），Cloudflare, Inc.同比增速更快（33.6% vs 26.9%），Cloudflare, Inc.自由现金流更多（$105.2M vs $101.3M），过去两年Cloudflare, Inc.的营收复合增速更高（27.4% vs 17.1%）
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。
Cloudflare是总部位于美国加利福尼亚州旧金山的科技企业，提供内容分发网络（CDN）、云网络安全、DDoS防护等多元互联网服务，同时是ICANN认证的域名注册商。其服务作为网站访客与客户托管服务商之间的反向代理，可有效提升访问性能，抵御恶意流量。
CSGP vs NET — 直观对比
营收规模更大
CSGP
是对方的1.5倍
$614.5M
营收增速更快
NET
高出6.8%
26.9%
净利率更高
CSGP
高出7.1%
-2.0%
自由现金流更多
NET
多$3.9M
$101.3M
两年增速更快
NET
近两年复合增速
17.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $614.5M |
| 净利润 | $46.5M | $-12.1M |
| 毛利率 | 78.6% | 73.6% |
| 营业利润率 | 5.5% | -8.0% |
| 净利率 | 5.2% | -2.0% |
| 营收同比 | 26.9% | 33.6% |
| 净利润同比 | -22.2% | 6.0% |
| 每股收益（稀释后） | $0.12 | $-0.03 |
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CSGPNET
| Q4 25 | $899.9M | $614.5M | ||
| Q3 25 | $833.6M | $562.0M | ||
| Q2 25 | $781.3M | $512.3M | ||
| Q1 25 | $732.2M | $479.1M | ||
| Q4 24 | $709.4M | $459.9M | ||
| Q3 24 | $692.6M | $430.1M | ||
| Q2 24 | $677.8M | $401.0M | ||
| Q1 24 | $656.4M | $378.6M |
净利润CSGPNET
| Q4 25 | $46.5M | $-12.1M | ||
| Q3 25 | $-30.9M | $-1.3M | ||
| Q2 25 | $6.2M | $-50.4M | ||
| Q1 25 | $-14.8M | $-38.5M | ||
| Q4 24 | $59.8M | $-12.8M | ||
| Q3 24 | $53.0M | $-15.3M | ||
| Q2 24 | $19.2M | $-15.1M | ||
| Q1 24 | $6.7M | $-35.5M |
毛利率CSGPNET
| Q4 25 | 78.6% | 73.6% | ||
| Q3 25 | 79.3% | 74.0% | ||
| Q2 25 | 78.5% | 74.9% | ||
| Q1 25 | 79.1% | 75.9% | ||
| Q4 24 | 80.1% | 76.4% | ||
| Q3 24 | 79.7% | 77.7% | ||
| Q2 24 | 80.0% | 77.8% | ||
| Q1 24 | 78.5% | 77.5% |
营业利润率CSGPNET
| Q4 25 | 5.5% | -8.0% | ||
| Q3 25 | -6.1% | -6.7% | ||
| Q2 25 | -3.5% | -13.1% | ||
| Q1 25 | -5.8% | -11.1% | ||
| Q4 24 | 5.6% | -7.5% | ||
| Q3 24 | 3.4% | -7.2% | ||
| Q2 24 | -2.4% | -8.7% | ||
| Q1 24 | -6.5% | -14.4% |
净利率CSGPNET
| Q4 25 | 5.2% | -2.0% | ||
| Q3 25 | -3.7% | -0.2% | ||
| Q2 25 | 0.8% | -9.8% | ||
| Q1 25 | -2.0% | -8.0% | ||
| Q4 24 | 8.4% | -2.8% | ||
| Q3 24 | 7.7% | -3.6% | ||
| Q2 24 | 2.8% | -3.8% | ||
| Q1 24 | 1.0% | -9.4% |
每股收益（稀释后）CSGPNET
| Q4 25 | $0.12 | $-0.03 | ||
| Q3 25 | $-0.07 | $0.00 | ||
| Q2 25 | $0.01 | $-0.15 | ||
| Q1 25 | $-0.04 | $-0.11 | ||
| Q4 24 | $0.14 | $-0.05 | ||
| Q3 24 | $0.13 | $-0.04 | ||
| Q2 24 | $0.05 | $-0.04 | ||
| Q1 24 | $0.02 | $-0.10 |
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 | $943.5M |
| 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 | $6.0B |
| 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CSGPNET
| Q4 25 | $1.6B | $943.5M | ||
| Q3 25 | $1.9B | $1.1B | ||
| Q2 25 | $3.6B | $1.5B | ||
| Q1 25 | $3.7B | $204.5M | ||
| Q4 24 | $4.7B | $147.7M | ||
| Q3 24 | — | $182.9M | ||
| Q2 24 | — | $157.0M | ||
| Q1 24 | — | $254.4M |
总债务CSGPNET
| 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CSGPNET
| Q4 25 | $8.3B | $1.5B | ||
| Q3 25 | $8.6B | $1.3B | ||
| Q2 25 | $8.6B | $1.2B | ||
| Q1 25 | $8.6B | $1.4B | ||
| Q4 24 | $7.6B | $1.0B | ||
| Q3 24 | $7.5B | $973.1M | ||
| Q2 24 | $7.4B | $881.5M | ||
| Q1 24 | $7.3B | $797.2M |
总资产CSGPNET
| Q4 25 | $10.5B | $6.0B | ||
| Q3 25 | $10.8B | $5.8B | ||
| Q2 25 | $10.5B | $5.6B | ||
| Q1 25 | $10.4B | $3.7B | ||
| Q4 24 | $9.3B | $3.3B | ||
| Q3 24 | $9.1B | $3.1B | ||
| Q2 24 | $9.1B | $2.9B | ||
| Q1 24 | $9.0B | $2.8B |
负债/权益比CSGPNET
| 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 | $190.4M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $105.2M |
| 自由现金流率自由现金流/营收 | 11.3% | 17.1% |
| 资本支出强度资本支出/营收 | 6.8% | 13.9% |
| 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 | $287.5M |
8季度趋势，按日历期对齐
经营现金流CSGPNET
| Q4 25 | $162.1M | $190.4M | ||
| Q3 25 | $68.2M | $167.1M | ||
| Q2 25 | $146.5M | $99.8M | ||
| Q1 25 | $53.2M | $145.8M | ||
| Q4 24 | $94.6M | $127.3M | ||
| Q3 24 | $100.3M | $104.7M | ||
| Q2 24 | $58.1M | $74.8M | ||
| Q1 24 | $139.6M | $73.6M |
自由现金流CSGPNET
| Q4 25 | $101.3M | $105.2M | ||
| Q3 25 | $-5.5M | $82.5M | ||
| Q2 25 | $27.7M | $39.9M | ||
| Q1 25 | $-500.0K | $59.9M | ||
| Q4 24 | $25.2M | $54.2M | ||
| Q3 24 | $40.2M | $54.5M | ||
| Q2 24 | $-14.7M | $45.2M | ||
| Q1 24 | $-237.1M | $41.5M |
自由现金流率CSGPNET
| Q4 25 | 11.3% | 17.1% | ||
| Q3 25 | -0.7% | 14.7% | ||
| Q2 25 | 3.5% | 7.8% | ||
| Q1 25 | -0.1% | 12.5% | ||
| Q4 24 | 3.6% | 11.8% | ||
| Q3 24 | 5.8% | 12.7% | ||
| Q2 24 | -2.2% | 11.3% | ||
| Q1 24 | -36.1% | 11.0% |
资本支出强度CSGPNET
| Q4 25 | 6.8% | 13.9% | ||
| Q3 25 | 8.8% | 15.1% | ||
| Q2 25 | 15.2% | 11.7% | ||
| Q1 25 | 7.3% | 17.9% | ||
| Q4 24 | 9.8% | 15.9% | ||
| Q3 24 | 8.7% | 11.7% | ||
| Q2 24 | 10.7% | 7.4% | ||
| Q1 24 | 57.4% | 8.5% |
现金转化率CSGPNET
| 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% |
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
