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CoStar Group（CSGP）与SPIRE INC（SR）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SPIRE INC的1.2倍（$899.9M vs $762.2M），SPIRE INC净利率更高（12.5% vs 5.2%，领先7.3%），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 $-121.8M），过去两年CoStar Group的营收复合增速更高（17.1% vs -17.8%）
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。
Spire Inc是总部位于美国密苏里州圣路易斯的区域公用事业控股公司，核心业务为受监管的天然气供应服务，同时布局非监管类业务拓展商业机会。旗下主要子公司Laclede Gas Company是密苏里州最大的天然气分销公用事业企业，为圣路易斯市及密苏里州东部10个县的约63.1万户住宅、商业及工业客户提供服务。
CSGP vs SR — 直观对比
营收规模更大
CSGP
是对方的1.2倍
$762.2M
营收增速更快
CSGP
高出12.9%
13.9%
净利率更高
SR
高出7.3%
5.2%
自由现金流更多
CSGP
多$223.1M
$-121.8M
两年增速更快
CSGP
近两年复合增速
-17.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $762.2M |
| 净利润 | $46.5M | $95.0M |
| 毛利率 | 78.6% | 55.1% |
| 营业利润率 | 5.5% | 22.8% |
| 净利率 | 5.2% | 12.5% |
| 营收同比 | 26.9% | 13.9% |
| 净利润同比 | -22.2% | 16.9% |
| 每股收益（稀释后） | $0.12 | $1.54 |
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CSGPSR
| Q4 25 | $899.9M | $762.2M | ||
| Q3 25 | $833.6M | $334.1M | ||
| Q2 25 | $781.3M | $421.9M | ||
| Q1 25 | $732.2M | $1.1B | ||
| Q4 24 | $709.4M | $669.1M | ||
| Q3 24 | $692.6M | $293.8M | ||
| Q2 24 | $677.8M | $414.1M | ||
| Q1 24 | $656.4M | $1.1B |
净利润CSGPSR
| Q4 25 | $46.5M | $95.0M | ||
| Q3 25 | $-30.9M | $-39.8M | ||
| Q2 25 | $6.2M | $20.9M | ||
| Q1 25 | $-14.8M | $209.3M | ||
| Q4 24 | $59.8M | $81.3M | ||
| Q3 24 | $53.0M | $-25.9M | ||
| Q2 24 | $19.2M | $-12.6M | ||
| Q1 24 | $6.7M | $204.3M |
毛利率CSGPSR
| Q4 25 | 78.6% | 55.1% | ||
| Q3 25 | 79.3% | — | ||
| Q2 25 | 78.5% | — | ||
| Q1 25 | 79.1% | — | ||
| Q4 24 | 80.1% | 55.6% | ||
| Q3 24 | 79.7% | — | ||
| Q2 24 | 80.0% | — | ||
| Q1 24 | 78.5% | — |
营业利润率CSGPSR
| Q4 25 | 5.5% | 22.8% | ||
| Q3 25 | -6.1% | -0.1% | ||
| Q2 25 | -3.5% | 16.4% | ||
| Q1 25 | -5.8% | 29.1% | ||
| Q4 24 | 5.6% | 22.2% | ||
| Q3 24 | 3.4% | 6.7% | ||
| Q2 24 | -2.4% | 7.4% | ||
| Q1 24 | -6.5% | 26.5% |
净利率CSGPSR
| Q4 25 | 5.2% | 12.5% | ||
| Q3 25 | -3.7% | -11.9% | ||
| Q2 25 | 0.8% | 5.0% | ||
| Q1 25 | -2.0% | 19.9% | ||
| Q4 24 | 8.4% | 12.2% | ||
| Q3 24 | 7.7% | -8.8% | ||
| Q2 24 | 2.8% | -3.0% | ||
| Q1 24 | 1.0% | 18.1% |
每股收益（稀释后）CSGPSR
| Q4 25 | $0.12 | $1.54 | ||
| Q3 25 | $-0.07 | $-0.77 | ||
| Q2 25 | $0.01 | $0.29 | ||
| Q1 25 | $-0.04 | $3.51 | ||
| Q4 24 | $0.14 | $1.34 | ||
| Q3 24 | $0.13 | $-0.63 | ||
| Q2 24 | $0.05 | $-0.28 | ||
| Q1 24 | $0.02 | $3.58 |
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 | $4.1M |
| 总债务越低越好 | $140.0M | — |
| 股东权益账面价值 | $8.3B | $3.4B |
| 总资产 | $10.5B | $11.9B |
| 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CSGPSR
| Q4 25 | $1.6B | $4.1M | ||
| Q3 25 | $1.9B | $5.7M | ||
| Q2 25 | $3.6B | $13.1M | ||
| Q1 25 | $3.7B | $15.2M | ||
| Q4 24 | $4.7B | $11.5M | ||
| Q3 24 | — | $4.5M | ||
| Q2 24 | — | $7.4M | ||
| Q1 24 | — | $25.6M |
总债务CSGPSR
| 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CSGPSR
| Q4 25 | $8.3B | $3.4B | ||
| Q3 25 | $8.6B | $3.4B | ||
| Q2 25 | $8.6B | $3.5B | ||
| Q1 25 | $8.6B | $3.5B | ||
| Q4 24 | $7.6B | $3.3B | ||
| Q3 24 | $7.5B | $3.2B | ||
| Q2 24 | $7.4B | $3.3B | ||
| Q1 24 | $7.3B | $3.4B |
总资产CSGPSR
| Q4 25 | $10.5B | $11.9B | ||
| Q3 25 | $10.8B | $11.6B | ||
| Q2 25 | $10.5B | $11.4B | ||
| Q1 25 | $10.4B | $11.3B | ||
| Q4 24 | $9.3B | $11.3B | ||
| Q3 24 | $9.1B | $10.9B | ||
| Q2 24 | $9.1B | $10.7B | ||
| Q1 24 | $9.0B | $10.7B |
负债/权益比CSGPSR
| 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 | $81.0M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $-121.8M |
| 自由现金流率自由现金流/营收 | 11.3% | -16.0% |
| 资本支出强度资本支出/营收 | 6.8% | 26.6% |
| 现金转化率经营现金流/净利润 | 3.49× | 0.85× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $-286.7M |
8季度趋势，按日历期对齐
经营现金流CSGPSR
| Q4 25 | $162.1M | $81.0M | ||
| Q3 25 | $68.2M | $-4.9M | ||
| Q2 25 | $146.5M | $129.1M | ||
| Q1 25 | $53.2M | $372.7M | ||
| Q4 24 | $94.6M | $81.1M | ||
| Q3 24 | $100.3M | $82.9M | ||
| Q2 24 | $58.1M | $270.1M | ||
| Q1 24 | $139.6M | $489.4M |
自由现金流CSGPSR
| Q4 25 | $101.3M | $-121.8M | ||
| Q3 25 | $-5.5M | $-227.6M | ||
| Q2 25 | $27.7M | $-91.4M | ||
| Q1 25 | $-500.0K | $154.1M | ||
| Q4 24 | $25.2M | $-179.5M | ||
| Q3 24 | $40.2M | $-146.9M | ||
| Q2 24 | $-14.7M | $47.9M | ||
| Q1 24 | $-237.1M | $306.6M |
自由现金流率CSGPSR
| Q4 25 | 11.3% | -16.0% | ||
| Q3 25 | -0.7% | -68.1% | ||
| Q2 25 | 3.5% | -21.7% | ||
| Q1 25 | -0.1% | 14.7% | ||
| Q4 24 | 3.6% | -26.8% | ||
| Q3 24 | 5.8% | -50.0% | ||
| Q2 24 | -2.2% | 11.6% | ||
| Q1 24 | -36.1% | 27.2% |
资本支出强度CSGPSR
| Q4 25 | 6.8% | 26.6% | ||
| Q3 25 | 8.8% | 66.7% | ||
| Q2 25 | 15.2% | 52.3% | ||
| Q1 25 | 7.3% | 20.8% | ||
| Q4 24 | 9.8% | 38.9% | ||
| Q3 24 | 8.7% | 78.2% | ||
| Q2 24 | 10.7% | 53.7% | ||
| Q1 24 | 57.4% | 16.2% |
现金转化率CSGPSR
| Q4 25 | 3.49× | 0.85× | ||
| Q3 25 | — | — | ||
| Q2 25 | 23.63× | 6.18× | ||
| Q1 25 | — | 1.78× | ||
| Q4 24 | 1.58× | 1.00× | ||
| Q3 24 | 1.89× | — | ||
| Q2 24 | 3.03× | — | ||
| Q1 24 | 20.84× | 2.40× |
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% |
SR
| Residential | $474.9M | 62% |
| Commercial And Industrial | $148.4M | 19% |
| Gas Marketing | $41.1M | 5% |
| Midstream | $39.0M | 5% |
| Transportation | $37.1M | 5% |
| Offsystem And Other Inventive | $19.7M | 3% |
| Other Customer Revenue | $4.6M | 1% |
