vs
CoStar Group（CSGP）与PTC Inc.（PTC）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PTC Inc.的1.3倍（$899.9M vs $685.8M），PTC Inc.净利率更高（24.3% vs 5.2%，领先19.1%），CoStar Group同比增速更快（26.9% vs 21.4%），PTC Inc.自由现金流更多（$267.4M vs $101.3M），过去两年CoStar Group的营收复合增速更高（17.1% vs 6.6%）
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。
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
CSGP vs PTC — 直观对比
营收规模更大
CSGP
是对方的1.3倍
$685.8M
营收增速更快
CSGP
高出5.5%
21.4%
净利率更高
PTC
高出19.1%
5.2%
自由现金流更多
PTC
多$166.1M
$101.3M
两年增速更快
CSGP
近两年复合增速
6.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $685.8M |
| 净利润 | $46.5M | $166.5M |
| 毛利率 | 78.6% | 82.8% |
| 营业利润率 | 5.5% | 32.2% |
| 净利率 | 5.2% | 24.3% |
| 营收同比 | 26.9% | 21.4% |
| 净利润同比 | -22.2% | 102.5% |
| 每股收益（稀释后） | $0.12 | $1.39 |
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CSGPPTC
| Q4 25 | $899.9M | $685.8M | ||
| Q3 25 | $833.6M | $893.8M | ||
| Q2 25 | $781.3M | $643.9M | ||
| Q1 25 | $732.2M | $636.4M | ||
| Q4 24 | $709.4M | $565.1M | ||
| Q3 24 | $692.6M | $626.5M | ||
| Q2 24 | $677.8M | $518.6M | ||
| Q1 24 | $656.4M | $603.1M |
净利润CSGPPTC
| Q4 25 | $46.5M | $166.5M | ||
| Q3 25 | $-30.9M | $347.8M | ||
| Q2 25 | $6.2M | $141.3M | ||
| Q1 25 | $-14.8M | $162.6M | ||
| Q4 24 | $59.8M | $82.2M | ||
| Q3 24 | $53.0M | $126.5M | ||
| Q2 24 | $19.2M | $69.0M | ||
| Q1 24 | $6.7M | $114.4M |
毛利率CSGPPTC
| Q4 25 | 78.6% | 82.8% | ||
| Q3 25 | 79.3% | 86.9% | ||
| Q2 25 | 78.5% | 82.9% | ||
| Q1 25 | 79.1% | 83.3% | ||
| Q4 24 | 80.1% | 80.2% | ||
| Q3 24 | 79.7% | 82.0% | ||
| Q2 24 | 80.0% | 78.4% | ||
| Q1 24 | 78.5% | 81.8% |
营业利润率CSGPPTC
| Q4 25 | 5.5% | 32.2% | ||
| Q3 25 | -6.1% | 48.5% | ||
| Q2 25 | -3.5% | 32.6% | ||
| Q1 25 | -5.8% | 35.1% | ||
| Q4 24 | 5.6% | 20.4% | ||
| Q3 24 | 3.4% | 31.0% | ||
| Q2 24 | -2.4% | 18.5% | ||
| Q1 24 | -6.5% | 29.8% |
净利率CSGPPTC
| Q4 25 | 5.2% | 24.3% | ||
| Q3 25 | -3.7% | 38.9% | ||
| Q2 25 | 0.8% | 21.9% | ||
| Q1 25 | -2.0% | 25.6% | ||
| Q4 24 | 8.4% | 14.6% | ||
| Q3 24 | 7.7% | 20.2% | ||
| Q2 24 | 2.8% | 13.3% | ||
| Q1 24 | 1.0% | 19.0% |
每股收益（稀释后）CSGPPTC
| Q4 25 | $0.12 | $1.39 | ||
| Q3 25 | $-0.07 | $2.88 | ||
| Q2 25 | $0.01 | $1.17 | ||
| Q1 25 | $-0.04 | $1.35 | ||
| Q4 24 | $0.14 | $0.68 | ||
| Q3 24 | $0.13 | $1.05 | ||
| Q2 24 | $0.05 | $0.57 | ||
| Q1 24 | $0.02 | $0.95 |
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 | $209.7M |
| 总债务越低越好 | $140.0M | $1.2B |
| 股东权益账面价值 | $8.3B | $3.8B |
| 总资产 | $10.5B | $6.4B |
| 负债/权益比越低杠杆越低 | 0.02× | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资CSGPPTC
| Q4 25 | $1.6B | $209.7M | ||
| Q3 25 | $1.9B | $184.4M | ||
| Q2 25 | $3.6B | $199.3M | ||
| Q1 25 | $3.7B | $235.2M | ||
| Q4 24 | $4.7B | $196.3M | ||
| Q3 24 | — | $265.8M | ||
| Q2 24 | — | $247.7M | ||
| Q1 24 | — | $249.0M |
总债务CSGPPTC
| Q4 25 | $140.0M | $1.2B | ||
| Q3 25 | $1.0B | $1.2B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $1.0B | $1.4B | ||
| Q4 24 | $1.0B | $1.0B | ||
| Q3 24 | $1.0B | $1.2B | ||
| Q2 24 | $1.0B | $1.3B | ||
| Q1 24 | $1.0B | $1.5B |
股东权益CSGPPTC
| Q4 25 | $8.3B | $3.8B | ||
| Q3 25 | $8.6B | $3.8B | ||
| Q2 25 | $8.6B | $3.5B | ||
| Q1 25 | $8.6B | $3.4B | ||
| Q4 24 | $7.6B | $3.2B | ||
| Q3 24 | $7.5B | $3.2B | ||
| Q2 24 | $7.4B | $3.0B | ||
| Q1 24 | $7.3B | $2.9B |
总资产CSGPPTC
| Q4 25 | $10.5B | $6.4B | ||
| Q3 25 | $10.8B | $6.6B | ||
| Q2 25 | $10.5B | $6.2B | ||
| Q1 25 | $10.4B | $6.2B | ||
| Q4 24 | $9.3B | $6.1B | ||
| Q3 24 | $9.1B | $6.4B | ||
| Q2 24 | $9.1B | $6.1B | ||
| Q1 24 | $9.0B | $6.2B |
负债/权益比CSGPPTC
| Q4 25 | 0.02× | 0.31× | ||
| Q3 25 | 0.12× | 0.31× | ||
| Q2 25 | 0.12× | 0.34× | ||
| Q1 25 | 0.12× | 0.40× | ||
| Q4 24 | 0.13× | 0.32× | ||
| Q3 24 | 0.13× | 0.38× | ||
| Q2 24 | 0.14× | 0.43× | ||
| Q1 24 | 0.14× | 0.51× |
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 | $269.7M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $267.4M |
| 自由现金流率自由现金流/营收 | 11.3% | 39.0% |
| 资本支出强度资本支出/营收 | 6.8% | 0.3% |
| 现金转化率经营现金流/净利润 | 3.49× | 1.62× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $888.4M |
8季度趋势，按日历期对齐
经营现金流CSGPPTC
| Q4 25 | $162.1M | $269.7M | ||
| Q3 25 | $68.2M | $104.0M | ||
| Q2 25 | $146.5M | $243.9M | ||
| Q1 25 | $53.2M | $281.3M | ||
| Q4 24 | $94.6M | $238.4M | ||
| Q3 24 | $100.3M | $98.1M | ||
| Q2 24 | $58.1M | $213.8M | ||
| Q1 24 | $139.6M | $250.7M |
自由现金流CSGPPTC
| Q4 25 | $101.3M | $267.4M | ||
| Q3 25 | $-5.5M | $100.5M | ||
| Q2 25 | $27.7M | $242.0M | ||
| Q1 25 | $-500.0K | $278.5M | ||
| Q4 24 | $25.2M | $235.7M | ||
| Q3 24 | $40.2M | $93.6M | ||
| Q2 24 | $-14.7M | $212.2M | ||
| Q1 24 | $-237.1M | $247.1M |
自由现金流率CSGPPTC
| Q4 25 | 11.3% | 39.0% | ||
| Q3 25 | -0.7% | 11.2% | ||
| Q2 25 | 3.5% | 37.6% | ||
| Q1 25 | -0.1% | 43.8% | ||
| Q4 24 | 3.6% | 41.7% | ||
| Q3 24 | 5.8% | 14.9% | ||
| Q2 24 | -2.2% | 40.9% | ||
| Q1 24 | -36.1% | 41.0% |
资本支出强度CSGPPTC
| Q4 25 | 6.8% | 0.3% | ||
| Q3 25 | 8.8% | 0.4% | ||
| Q2 25 | 15.2% | 0.3% | ||
| Q1 25 | 7.3% | 0.4% | ||
| Q4 24 | 9.8% | 0.5% | ||
| Q3 24 | 8.7% | 0.7% | ||
| Q2 24 | 10.7% | 0.3% | ||
| Q1 24 | 57.4% | 0.6% |
现金转化率CSGPPTC
| Q4 25 | 3.49× | 1.62× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | 23.63× | 1.73× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | 1.58× | 2.90× | ||
| Q3 24 | 1.89× | 0.78× | ||
| Q2 24 | 3.03× | 3.10× | ||
| Q1 24 | 20.84× | 2.19× |
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% |
PTC
| Support And Cloud Services | $393.3M | 57% |
| License | $269.7M | 39% |
| Technology Service | $22.9M | 3% |
| Perpetual License | $5.6M | 1% |
