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CoStar Group（CSGP）与Ryman Hospitality Properties, Inc.（RHP）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Ryman Hospitality Properties, Inc.的1.2倍（$899.9M vs $737.8M），Ryman Hospitality Properties, Inc.净利率更高（10.1% vs 5.2%，领先4.9%），CoStar Group同比增速更快（26.9% vs 13.9%），CoStar Group自由现金流更多（$101.3M vs $58.5M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% 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。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
CSGP vs RHP — 直观对比
营收规模更大
CSGP
是对方的1.2倍
$737.8M
营收增速更快
CSGP
高出12.9%
13.9%
净利率更高
RHP
高出4.9%
5.2%
自由现金流更多
CSGP
多$42.8M
$58.5M
两年增速更快
RHP
近两年复合增速
17.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $737.8M |
| 净利润 | $46.5M | $74.5M |
| 毛利率 | 78.6% | 41.4% |
| 营业利润率 | 5.5% | 19.4% |
| 净利率 | 5.2% | 10.1% |
| 营收同比 | 26.9% | 13.9% |
| 净利润同比 | -22.2% | 3.0% |
| 每股收益（稀释后） | $0.12 | $1.12 |
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CSGPRHP
| Q4 25 | $899.9M | $737.8M | ||
| Q3 25 | $833.6M | $592.5M | ||
| Q2 25 | $781.3M | $659.5M | ||
| Q1 25 | $732.2M | $587.3M | ||
| Q4 24 | $709.4M | $647.6M | ||
| Q3 24 | $692.6M | $550.0M | ||
| Q2 24 | $677.8M | $613.3M | ||
| Q1 24 | $656.4M | $528.3M |
净利润CSGPRHP
| Q4 25 | $46.5M | $74.5M | ||
| Q3 25 | $-30.9M | $34.9M | ||
| Q2 25 | $6.2M | $71.8M | ||
| Q1 25 | $-14.8M | $63.0M | ||
| Q4 24 | $59.8M | $72.3M | ||
| Q3 24 | $53.0M | $59.0M | ||
| Q2 24 | $19.2M | $100.8M | ||
| Q1 24 | $6.7M | $42.8M |
毛利率CSGPRHP
| Q4 25 | 78.6% | 41.4% | ||
| Q3 25 | 79.3% | 40.9% | ||
| Q2 25 | 78.5% | 49.7% | ||
| Q1 25 | 79.1% | 44.4% | ||
| Q4 24 | 80.1% | 40.4% | ||
| Q3 24 | 79.7% | 43.1% | ||
| Q2 24 | 80.0% | 48.4% | ||
| Q1 24 | 78.5% | 41.5% |
营业利润率CSGPRHP
| Q4 25 | 5.5% | 19.4% | ||
| Q3 25 | -6.1% | 15.0% | ||
| Q2 25 | -3.5% | 21.1% | ||
| Q1 25 | -5.8% | 19.8% | ||
| Q4 24 | 5.6% | 18.6% | ||
| Q3 24 | 3.4% | 19.3% | ||
| Q2 24 | -2.4% | 27.4% | ||
| Q1 24 | -6.5% | 18.2% |
净利率CSGPRHP
| Q4 25 | 5.2% | 10.1% | ||
| Q3 25 | -3.7% | 5.9% | ||
| Q2 25 | 0.8% | 10.9% | ||
| Q1 25 | -2.0% | 10.7% | ||
| Q4 24 | 8.4% | 11.2% | ||
| Q3 24 | 7.7% | 10.7% | ||
| Q2 24 | 2.8% | 16.4% | ||
| Q1 24 | 1.0% | 8.1% |
每股收益（稀释后）CSGPRHP
| Q4 25 | $0.12 | $1.12 | ||
| Q3 25 | $-0.07 | $0.53 | ||
| Q2 25 | $0.01 | $1.12 | ||
| Q1 25 | $-0.04 | $1.00 | ||
| Q4 24 | $0.14 | $1.12 | ||
| Q3 24 | $0.13 | $0.94 | ||
| Q2 24 | $0.05 | $1.65 | ||
| Q1 24 | $0.02 | $0.67 |
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 | $471.4M |
| 总债务越低越好 | $140.0M | — |
| 股东权益账面价值 | $8.3B | $750.2M |
| 总资产 | $10.5B | $6.2B |
| 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CSGPRHP
| Q4 25 | $1.6B | $471.4M | ||
| Q3 25 | $1.9B | $483.3M | ||
| Q2 25 | $3.6B | $420.6M | ||
| Q1 25 | $3.7B | $413.9M | ||
| Q4 24 | $4.7B | $477.7M | ||
| Q3 24 | — | $534.9M | ||
| Q2 24 | — | $498.4M | ||
| Q1 24 | — | $465.3M |
总债务CSGPRHP
| 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CSGPRHP
| Q4 25 | $8.3B | $750.2M | ||
| Q3 25 | $8.6B | $758.5M | ||
| Q2 25 | $8.6B | $800.4M | ||
| Q1 25 | $8.6B | $531.5M | ||
| Q4 24 | $7.6B | $549.0M | ||
| Q3 24 | $7.5B | $551.9M | ||
| Q2 24 | $7.4B | $562.6M | ||
| Q1 24 | $7.3B | $529.9M |
总资产CSGPRHP
| Q4 25 | $10.5B | $6.2B | ||
| Q3 25 | $10.8B | $6.2B | ||
| Q2 25 | $10.5B | $6.1B | ||
| Q1 25 | $10.4B | $5.2B | ||
| Q4 24 | $9.3B | $5.2B | ||
| Q3 24 | $9.1B | $5.2B | ||
| Q2 24 | $9.1B | $5.1B | ||
| Q1 24 | $9.0B | $5.1B |
负债/权益比CSGPRHP
| 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 | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $58.5M |
| 自由现金流率自由现金流/营收 | 11.3% | 7.9% |
| 资本支出强度资本支出/营收 | 6.8% | 14.4% |
| 现金转化率经营现金流/净利润 | 3.49× | 2.21× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $232.4M |
8季度趋势，按日历期对齐
经营现金流CSGPRHP
| Q4 25 | $162.1M | $164.7M | ||
| Q3 25 | $68.2M | $205.2M | ||
| Q2 25 | $146.5M | $122.5M | ||
| Q1 25 | $53.2M | $98.2M | ||
| Q4 24 | $94.6M | $166.6M | ||
| Q3 24 | $100.3M | $218.1M | ||
| Q2 24 | $58.1M | $184.3M | ||
| Q1 24 | $139.6M | $7.5M |
自由现金流CSGPRHP
| Q4 25 | $101.3M | $58.5M | ||
| Q3 25 | $-5.5M | $135.4M | ||
| Q2 25 | $27.7M | $53.0M | ||
| Q1 25 | $-500.0K | $-14.5M | ||
| Q4 24 | $25.2M | $76.0M | ||
| Q3 24 | $40.2M | $85.7M | ||
| Q2 24 | $-14.7M | $78.8M | ||
| Q1 24 | $-237.1M | $-72.0M |
自由现金流率CSGPRHP
| Q4 25 | 11.3% | 7.9% | ||
| Q3 25 | -0.7% | 22.9% | ||
| Q2 25 | 3.5% | 8.0% | ||
| Q1 25 | -0.1% | -2.5% | ||
| Q4 24 | 3.6% | 11.7% | ||
| Q3 24 | 5.8% | 15.6% | ||
| Q2 24 | -2.2% | 12.9% | ||
| Q1 24 | -36.1% | -13.6% |
资本支出强度CSGPRHP
| Q4 25 | 6.8% | 14.4% | ||
| Q3 25 | 8.8% | 11.8% | ||
| Q2 25 | 15.2% | 10.5% | ||
| Q1 25 | 7.3% | 19.2% | ||
| Q4 24 | 9.8% | 14.0% | ||
| Q3 24 | 8.7% | 24.1% | ||
| Q2 24 | 10.7% | 17.2% | ||
| Q1 24 | 57.4% | 15.0% |
现金转化率CSGPRHP
| Q4 25 | 3.49× | 2.21× | ||
| Q3 25 | — | 5.88× | ||
| Q2 25 | 23.63× | 1.71× | ||
| Q1 25 | — | 1.56× | ||
| Q4 24 | 1.58× | 2.30× | ||
| Q3 24 | 1.89× | 3.70× | ||
| Q2 24 | 3.03× | 1.83× | ||
| Q1 24 | 20.84× | 0.17× |
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% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
