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CoStar Group（CSGP）与Snap Inc（SNAP）财务数据对比。点击上方公司名可切换其他公司
Snap Inc的季度营收约是CoStar Group的1.9倍（$1.7B vs $899.9M），CoStar Group净利率更高（5.2% vs 2.6%，领先2.5%），CoStar Group同比增速更快（26.9% vs 10.2%），Snap Inc自由现金流更多（$205.6M vs $101.3M），过去两年Snap Inc的营收复合增速更高（19.9% 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。
Snap Inc.是一家美国科技企业，2011年9月16日由埃文·斯皮格尔、鲍比·墨菲和雷吉·布朗联合创立，总部位于加利福尼亚州圣莫尼卡。公司核心产品包括社交应用Snapchat、智能眼镜Spectacles、虚拟形象工具Bitmoji以及营销推广解决方案SnapBoost，2016年9月24日由原Snapchat Inc.更名为现名，覆盖社交、智能硬件等多元业务领域。
CSGP vs SNAP — 直观对比
营收规模更大
SNAP
是对方的1.9倍
$899.9M
营收增速更快
CSGP
高出16.6%
10.2%
净利率更高
CSGP
高出2.5%
2.6%
自由现金流更多
SNAP
多$104.3M
$101.3M
两年增速更快
SNAP
近两年复合增速
17.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $1.7B |
| 净利润 | $46.5M | $45.2M |
| 毛利率 | 78.6% | 59.1% |
| 营业利润率 | 5.5% | 2.9% |
| 净利率 | 5.2% | 2.6% |
| 营收同比 | 26.9% | 10.2% |
| 净利润同比 | -22.2% | 396.7% |
| 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CSGPSNAP
| Q4 25 | $899.9M | $1.7B | ||
| Q3 25 | $833.6M | $1.5B | ||
| Q2 25 | $781.3M | $1.3B | ||
| Q1 25 | $732.2M | $1.4B | ||
| Q4 24 | $709.4M | $1.6B | ||
| Q3 24 | $692.6M | $1.4B | ||
| Q2 24 | $677.8M | $1.2B | ||
| Q1 24 | $656.4M | $1.2B |
净利润CSGPSNAP
| Q4 25 | $46.5M | $45.2M | ||
| Q3 25 | $-30.9M | $-103.5M | ||
| Q2 25 | $6.2M | $-262.6M | ||
| Q1 25 | $-14.8M | $-139.6M | ||
| Q4 24 | $59.8M | $9.1M | ||
| Q3 24 | $53.0M | $-153.2M | ||
| Q2 24 | $19.2M | $-248.6M | ||
| Q1 24 | $6.7M | $-305.1M |
毛利率CSGPSNAP
| Q4 25 | 78.6% | 59.1% | ||
| Q3 25 | 79.3% | 55.3% | ||
| Q2 25 | 78.5% | 51.4% | ||
| Q1 25 | 79.1% | 53.1% | ||
| Q4 24 | 80.1% | 56.9% | ||
| Q3 24 | 79.7% | 53.5% | ||
| Q2 24 | 80.0% | 52.4% | ||
| Q1 24 | 78.5% | 51.9% |
营业利润率CSGPSNAP
| Q4 25 | 5.5% | 2.9% | ||
| Q3 25 | -6.1% | -8.5% | ||
| Q2 25 | -3.5% | -19.3% | ||
| Q1 25 | -5.8% | -14.2% | ||
| Q4 24 | 5.6% | -1.7% | ||
| Q3 24 | 3.4% | -12.6% | ||
| Q2 24 | -2.4% | -20.5% | ||
| Q1 24 | -6.5% | -27.9% |
净利率CSGPSNAP
| Q4 25 | 5.2% | 2.6% | ||
| Q3 25 | -3.7% | -6.9% | ||
| Q2 25 | 0.8% | -19.5% | ||
| Q1 25 | -2.0% | -10.2% | ||
| Q4 24 | 8.4% | 0.6% | ||
| Q3 24 | 7.7% | -11.2% | ||
| Q2 24 | 2.8% | -20.1% | ||
| Q1 24 | 1.0% | -25.5% |
每股收益（稀释后）CSGPSNAP
| Q4 25 | $0.12 | $0.03 | ||
| Q3 25 | $-0.07 | $-0.06 | ||
| Q2 25 | $0.01 | $-0.16 | ||
| Q1 25 | $-0.04 | $-0.08 | ||
| Q4 24 | $0.14 | $0.01 | ||
| Q3 24 | $0.13 | $-0.09 | ||
| Q2 24 | $0.05 | $-0.15 | ||
| 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 | $2.9B |
| 总债务越低越好 | $140.0M | $3.5B |
| 股东权益账面价值 | $8.3B | $2.3B |
| 总资产 | $10.5B | $7.7B |
| 负债/权益比越低杠杆越低 | 0.02× | 1.55× |
8季度趋势，按日历期对齐
现金及短期投资CSGPSNAP
| Q4 25 | $1.6B | $2.9B | ||
| Q3 25 | $1.9B | $3.0B | ||
| Q2 25 | $3.6B | $2.9B | ||
| Q1 25 | $3.7B | $3.2B | ||
| Q4 24 | $4.7B | $3.4B | ||
| Q3 24 | — | $3.2B | ||
| Q2 24 | — | $3.1B | ||
| Q1 24 | — | $2.9B |
总债务CSGPSNAP
| Q4 25 | $140.0M | $3.5B | ||
| Q3 25 | $1.0B | $3.5B | ||
| Q2 25 | $1.0B | $3.6B | ||
| Q1 25 | $1.0B | $3.6B | ||
| Q4 24 | $1.0B | $3.6B | ||
| Q3 24 | $1.0B | $3.6B | ||
| Q2 24 | $1.0B | $3.6B | ||
| Q1 24 | $1.0B | $3.3B |
股东权益CSGPSNAP
| Q4 25 | $8.3B | $2.3B | ||
| Q3 25 | $8.6B | $2.2B | ||
| Q2 25 | $8.6B | $2.1B | ||
| Q1 25 | $8.6B | $2.3B | ||
| Q4 24 | $7.6B | $2.5B | ||
| Q3 24 | $7.5B | $2.2B | ||
| Q2 24 | $7.4B | $2.1B | ||
| Q1 24 | $7.3B | $2.1B |
总资产CSGPSNAP
| Q4 25 | $10.5B | $7.7B | ||
| Q3 25 | $10.8B | $7.6B | ||
| Q2 25 | $10.5B | $7.4B | ||
| Q1 25 | $10.4B | $7.6B | ||
| Q4 24 | $9.3B | $7.9B | ||
| Q3 24 | $9.1B | $7.6B | ||
| Q2 24 | $9.1B | $7.4B | ||
| Q1 24 | $9.0B | $7.2B |
负债/权益比CSGPSNAP
| Q4 25 | 0.02× | 1.55× | ||
| Q3 25 | 0.12× | 1.59× | ||
| Q2 25 | 0.12× | 1.73× | ||
| Q1 25 | 0.12× | 1.56× | ||
| Q4 24 | 0.13× | 1.49× | ||
| Q3 24 | 0.13× | 1.65× | ||
| Q2 24 | 0.14× | 1.76× | ||
| Q1 24 | 0.14× | 1.55× |
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 | $269.6M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $205.6M |
| 自由现金流率自由现金流/营收 | 11.3% | 12.0% |
| 资本支出强度资本支出/营收 | 6.8% | 3.7% |
| 现金转化率经营现金流/净利润 | 3.49× | 5.96× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $437.2M |
8季度趋势，按日历期对齐
经营现金流CSGPSNAP
| Q4 25 | $162.1M | $269.6M | ||
| Q3 25 | $68.2M | $146.5M | ||
| Q2 25 | $146.5M | $88.5M | ||
| Q1 25 | $53.2M | $151.6M | ||
| Q4 24 | $94.6M | $230.6M | ||
| Q3 24 | $100.3M | $115.9M | ||
| Q2 24 | $58.1M | $-21.4M | ||
| Q1 24 | $139.6M | $88.4M |
自由现金流CSGPSNAP
| Q4 25 | $101.3M | $205.6M | ||
| Q3 25 | $-5.5M | $93.4M | ||
| Q2 25 | $27.7M | $23.8M | ||
| Q1 25 | $-500.0K | $114.4M | ||
| Q4 24 | $25.2M | $182.4M | ||
| Q3 24 | $40.2M | $71.8M | ||
| Q2 24 | $-14.7M | $-73.4M | ||
| Q1 24 | $-237.1M | $37.9M |
自由现金流率CSGPSNAP
| Q4 25 | 11.3% | 12.0% | ||
| Q3 25 | -0.7% | 6.2% | ||
| Q2 25 | 3.5% | 1.8% | ||
| Q1 25 | -0.1% | 8.4% | ||
| Q4 24 | 3.6% | 11.7% | ||
| Q3 24 | 5.8% | 5.2% | ||
| Q2 24 | -2.2% | -5.9% | ||
| Q1 24 | -36.1% | 3.2% |
资本支出强度CSGPSNAP
| Q4 25 | 6.8% | 3.7% | ||
| Q3 25 | 8.8% | 3.5% | ||
| Q2 25 | 15.2% | 4.8% | ||
| Q1 25 | 7.3% | 2.7% | ||
| Q4 24 | 9.8% | 3.1% | ||
| Q3 24 | 8.7% | 3.2% | ||
| Q2 24 | 10.7% | 4.2% | ||
| Q1 24 | 57.4% | 4.2% |
现金转化率CSGPSNAP
| Q4 25 | 3.49× | 5.96× | ||
| Q3 25 | — | — | ||
| Q2 25 | 23.63× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.58× | 25.34× | ||
| 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% |
SNAP
| Advertising Revenue | $1.5B | 86% |
| Other Revenue | $231.9M | 14% |
