vs
CoStar Group（CSGP）与Sabre Corp（SABR）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Sabre Corp的1.5倍（$899.9M vs $592.0M），CoStar Group净利率更高（5.2% vs -17.5%，领先22.7%），CoStar Group同比增速更快（26.9% vs 2.9%），过去两年CoStar Group的营收复合增速更高（17.1% vs -13.0%）
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。
Sabre Corporation是总部位于美国得克萨斯州南湖的旅游科技公司，也是全球最大的航空预订全球分销系统（GDS）服务商。其核心产品Sabre全球分销系统作为中立中介，连接航司、酒店等旅游供应商与旅行社等旅游销售方，提供实时库存与价格信息，是企业差旅管理领域的重要服务商。
CSGP vs SABR — 直观对比
营收规模更大
CSGP
是对方的1.5倍
$592.0M
营收增速更快
CSGP
高出24.0%
2.9%
净利率更高
CSGP
高出22.7%
-17.5%
两年增速更快
CSGP
近两年复合增速
-13.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $592.0M |
| 净利润 | $46.5M | $-103.5M |
| 毛利率 | 78.6% | 55.4% |
| 营业利润率 | 5.5% | 1.6% |
| 净利率 | 5.2% | -17.5% |
| 营收同比 | 26.9% | 2.9% |
| 净利润同比 | -22.2% | -38.6% |
| 每股收益（稀释后） | $0.12 | $-0.08 |
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CSGPSABR
| Q4 25 | $899.9M | $592.0M | ||
| Q3 25 | $833.6M | $715.2M | ||
| Q2 25 | $781.3M | $687.1M | ||
| Q1 25 | $732.2M | $776.6M | ||
| Q4 24 | $709.4M | $575.6M | ||
| Q3 24 | $692.6M | $691.3M | ||
| Q2 24 | $677.8M | $695.0M | ||
| Q1 24 | $656.4M | $782.9M |
净利润CSGPSABR
| Q4 25 | $46.5M | $-103.5M | ||
| Q3 25 | $-30.9M | $848.5M | ||
| Q2 25 | $6.2M | $-256.5M | ||
| Q1 25 | $-14.8M | $35.5M | ||
| Q4 24 | $59.8M | $-74.7M | ||
| Q3 24 | $53.0M | $-62.8M | ||
| Q2 24 | $19.2M | $-69.8M | ||
| Q1 24 | $6.7M | $-71.5M |
毛利率CSGPSABR
| Q4 25 | 78.6% | 55.4% | ||
| Q3 25 | 79.3% | 56.2% | ||
| Q2 25 | 78.5% | 56.9% | ||
| Q1 25 | 79.1% | 57.0% | ||
| Q4 24 | 80.1% | 58.8% | ||
| Q3 24 | 79.7% | 57.4% | ||
| Q2 24 | 80.0% | 57.8% | ||
| Q1 24 | 78.5% | 59.0% |
营业利润率CSGPSABR
| Q4 25 | 5.5% | 1.6% | ||
| Q3 25 | -6.1% | 13.1% | ||
| Q2 25 | -3.5% | 13.0% | ||
| Q1 25 | -5.8% | 13.3% | ||
| Q4 24 | 5.6% | 6.5% | ||
| Q3 24 | 3.4% | 8.4% | ||
| Q2 24 | -2.4% | 7.0% | ||
| Q1 24 | -6.5% | 12.5% |
净利率CSGPSABR
| Q4 25 | 5.2% | -17.5% | ||
| Q3 25 | -3.7% | 118.6% | ||
| Q2 25 | 0.8% | -37.3% | ||
| Q1 25 | -2.0% | 4.6% | ||
| Q4 24 | 8.4% | -13.0% | ||
| Q3 24 | 7.7% | -9.1% | ||
| Q2 24 | 2.8% | -10.0% | ||
| Q1 24 | 1.0% | -9.1% |
每股收益（稀释后）CSGPSABR
| Q4 25 | $0.12 | $-0.08 | ||
| Q3 25 | $-0.07 | $1.98 | ||
| Q2 25 | $0.01 | $-0.65 | ||
| Q1 25 | $-0.04 | $0.09 | ||
| Q4 24 | $0.14 | $-0.20 | ||
| Q3 24 | $0.13 | $-0.16 | ||
| Q2 24 | $0.05 | $-0.18 | ||
| Q1 24 | $0.02 | $-0.19 |
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 | $791.6M |
| 总债务越低越好 | $140.0M | $4.3B |
| 股东权益账面价值 | $8.3B | $-1.0B |
| 总资产 | $10.5B | $4.5B |
| 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CSGPSABR
| Q4 25 | $1.6B | $791.6M | ||
| Q3 25 | $1.9B | $661.7M | ||
| Q2 25 | $3.6B | $426.1M | ||
| Q1 25 | $3.7B | $651.1M | ||
| Q4 24 | $4.7B | $724.5M | ||
| Q3 24 | — | $668.8M | ||
| Q2 24 | — | $612.6M | ||
| Q1 24 | — | $629.1M |
总债务CSGPSABR
| Q4 25 | $140.0M | $4.3B | ||
| Q3 25 | $1.0B | $4.2B | ||
| Q2 25 | $1.0B | $5.1B | ||
| Q1 25 | $1.0B | $5.0B | ||
| Q4 24 | $1.0B | $5.0B | ||
| Q3 24 | $1.0B | $4.9B | ||
| Q2 24 | $1.0B | $4.9B | ||
| Q1 24 | $1.0B | $5.1B |
股东权益CSGPSABR
| Q4 25 | $8.3B | $-1.0B | ||
| Q3 25 | $8.6B | $-950.8M | ||
| Q2 25 | $8.6B | $-1.8B | ||
| Q1 25 | $8.6B | $-1.6B | ||
| Q4 24 | $7.6B | $-1.6B | ||
| Q3 24 | $7.5B | $-1.5B | ||
| Q2 24 | $7.4B | $-1.5B | ||
| Q1 24 | $7.3B | $-1.4B |
总资产CSGPSABR
| Q4 25 | $10.5B | $4.5B | ||
| Q3 25 | $10.8B | $4.4B | ||
| Q2 25 | $10.5B | $4.4B | ||
| Q1 25 | $10.4B | $4.7B | ||
| Q4 24 | $9.3B | $4.6B | ||
| Q3 24 | $9.1B | $4.7B | ||
| Q2 24 | $9.1B | $4.7B | ||
| Q1 24 | $9.0B | $4.7B |
负债/权益比CSGPSABR
| 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 | — |
| 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% | 4.0% |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流CSGPSABR
| Q4 25 | $162.1M | — | ||
| Q3 25 | $68.2M | $33.7M | ||
| Q2 25 | $146.5M | — | ||
| Q1 25 | $53.2M | $-80.6M | ||
| Q4 24 | $94.6M | $75.7M | ||
| Q3 24 | $100.3M | $24.4M | ||
| Q2 24 | $58.1M | $38.2M | ||
| Q1 24 | $139.6M | $-68.1M |
自由现金流CSGPSABR
| Q4 25 | $101.3M | — | ||
| Q3 25 | $-5.5M | $13.4M | ||
| Q2 25 | $27.7M | — | ||
| Q1 25 | $-500.0K | $-98.5M | ||
| Q4 24 | $25.2M | $61.0M | ||
| Q3 24 | $40.2M | $5.1M | ||
| Q2 24 | $-14.7M | $20.4M | ||
| Q1 24 | $-237.1M | $-95.8M |
自由现金流率CSGPSABR
| Q4 25 | 11.3% | — | ||
| Q3 25 | -0.7% | 1.9% | ||
| Q2 25 | 3.5% | — | ||
| Q1 25 | -0.1% | -12.7% | ||
| Q4 24 | 3.6% | 10.6% | ||
| Q3 24 | 5.8% | 0.7% | ||
| Q2 24 | -2.2% | 2.9% | ||
| Q1 24 | -36.1% | -12.2% |
资本支出强度CSGPSABR
| Q4 25 | 6.8% | 4.0% | ||
| Q3 25 | 8.8% | 2.8% | ||
| Q2 25 | 15.2% | 3.1% | ||
| Q1 25 | 7.3% | 2.3% | ||
| Q4 24 | 9.8% | 2.6% | ||
| Q3 24 | 8.7% | 2.8% | ||
| Q2 24 | 10.7% | 2.6% | ||
| Q1 24 | 57.4% | 3.5% |
现金转化率CSGPSABR
| Q4 25 | 3.49× | — | ||
| Q3 25 | — | 0.04× | ||
| Q2 25 | 23.63× | — | ||
| Q1 25 | — | -2.27× | ||
| 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% |
SABR
| Distribution | $526.8M | 89% |
| Other | $65.2M | 11% |
