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CoStar Group（CSGP）与TRINET GROUP, INC.（TNET）财务数据对比。点击上方公司名可切换其他公司
TRINET GROUP, INC.的季度营收约是CoStar Group的1.4倍（$1.2B vs $899.9M），CoStar Group同比增速更快（26.9% vs -2.2%），CoStar Group自由现金流更多（$101.3M vs $43.0M），过去两年CoStar Group的营收复合增速更高（17.1% vs -0.6%）
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。
TriNet Group, Inc.是一家面向中小企业的专业雇主组织，总部位于加州都柏林，服务员工规模在3至2500人之间的各类机构。可提供薪资管理、健康福利管理服务，还能为客户提供劳动法规合规、风险降低相关咨询，可作为外包人力资源部门为企业分担人事相关事务。
CSGP vs TNET — 直观对比
营收规模更大
TNET
是对方的1.4倍
$899.9M
营收增速更快
CSGP
高出29.0%
-2.2%
自由现金流更多
CSGP
多$58.3M
$43.0M
两年增速更快
CSGP
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $1.2B |
| 净利润 | $46.5M | — |
| 毛利率 | 78.6% | — |
| 营业利润率 | 5.5% | 0.1% |
| 净利率 | 5.2% | — |
| 营收同比 | 26.9% | -2.2% |
| 净利润同比 | -22.2% | — |
| 每股收益（稀释后） | $0.12 | $0.02 |
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CSGPTNET
| Q4 25 | $899.9M | $1.2B | ||
| Q3 25 | $833.6M | $1.2B | ||
| Q2 25 | $781.3M | $1.2B | ||
| Q1 25 | $732.2M | $1.3B | ||
| Q4 24 | $709.4M | $1.3B | ||
| Q3 24 | $692.6M | $1.2B | ||
| Q2 24 | $677.8M | $1.2B | ||
| Q1 24 | $656.4M | $1.3B |
净利润CSGPTNET
| Q4 25 | $46.5M | — | ||
| Q3 25 | $-30.9M | $34.0M | ||
| Q2 25 | $6.2M | $37.0M | ||
| Q1 25 | $-14.8M | $85.0M | ||
| Q4 24 | $59.8M | — | ||
| Q3 24 | $53.0M | $45.0M | ||
| Q2 24 | $19.2M | $60.0M | ||
| Q1 24 | $6.7M | $91.0M |
毛利率CSGPTNET
| Q4 25 | 78.6% | — | ||
| Q3 25 | 79.3% | — | ||
| Q2 25 | 78.5% | — | ||
| Q1 25 | 79.1% | — | ||
| Q4 24 | 80.1% | — | ||
| Q3 24 | 79.7% | — | ||
| Q2 24 | 80.0% | — | ||
| Q1 24 | 78.5% | — |
营业利润率CSGPTNET
| Q4 25 | 5.5% | 0.1% | ||
| Q3 25 | -6.1% | 4.1% | ||
| Q2 25 | -3.5% | 4.1% | ||
| Q1 25 | -5.8% | 8.9% | ||
| Q4 24 | 5.6% | -2.9% | ||
| Q3 24 | 3.4% | 4.7% | ||
| Q2 24 | -2.4% | 6.5% | ||
| Q1 24 | -6.5% | 9.7% |
净利率CSGPTNET
| Q4 25 | 5.2% | — | ||
| Q3 25 | -3.7% | 2.8% | ||
| Q2 25 | 0.8% | 3.0% | ||
| Q1 25 | -2.0% | 6.6% | ||
| Q4 24 | 8.4% | — | ||
| Q3 24 | 7.7% | 3.6% | ||
| Q2 24 | 2.8% | 4.9% | ||
| Q1 24 | 1.0% | 7.2% |
每股收益（稀释后）CSGPTNET
| Q4 25 | $0.12 | $0.02 | ||
| Q3 25 | $-0.07 | $0.70 | ||
| Q2 25 | $0.01 | $0.77 | ||
| Q1 25 | $-0.04 | $1.71 | ||
| Q4 24 | $0.14 | $-0.44 | ||
| Q3 24 | $0.13 | $0.89 | ||
| Q2 24 | $0.05 | $1.20 | ||
| Q1 24 | $0.02 | $1.78 |
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 | $287.0M |
| 总债务越低越好 | $140.0M | — |
| 股东权益账面价值 | $8.3B | $54.0M |
| 总资产 | $10.5B | $3.8B |
| 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CSGPTNET
| Q4 25 | $1.6B | $287.0M | ||
| Q3 25 | $1.9B | $321.0M | ||
| Q2 25 | $3.6B | $407.0M | ||
| Q1 25 | $3.7B | $349.0M | ||
| Q4 24 | $4.7B | $360.0M | ||
| Q3 24 | — | $301.0M | ||
| Q2 24 | — | $249.0M | ||
| Q1 24 | — | $383.0M |
总债务CSGPTNET
| 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CSGPTNET
| Q4 25 | $8.3B | $54.0M | ||
| Q3 25 | $8.6B | $110.0M | ||
| Q2 25 | $8.6B | $107.0M | ||
| Q1 25 | $8.6B | $63.0M | ||
| Q4 24 | $7.6B | $69.0M | ||
| Q3 24 | $7.5B | $129.0M | ||
| Q2 24 | $7.4B | $100.0M | ||
| Q1 24 | $7.3B | $143.0M |
总资产CSGPTNET
| Q4 25 | $10.5B | $3.8B | ||
| Q3 25 | $10.8B | $3.4B | ||
| Q2 25 | $10.5B | $3.7B | ||
| Q1 25 | $10.4B | $3.8B | ||
| Q4 24 | $9.3B | $4.1B | ||
| Q3 24 | $9.1B | $3.7B | ||
| Q2 24 | $9.1B | $3.7B | ||
| Q1 24 | $9.0B | $4.0B |
负债/权益比CSGPTNET
| 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 | $61.0M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $43.0M |
| 自由现金流率自由现金流/营收 | 11.3% | 3.4% |
| 资本支出强度资本支出/营收 | 6.8% | 1.4% |
| 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 | $234.0M |
8季度趋势，按日历期对齐
经营现金流CSGPTNET
| Q4 25 | $162.1M | $61.0M | ||
| Q3 25 | $68.2M | $72.0M | ||
| Q2 25 | $146.5M | $75.0M | ||
| Q1 25 | $53.2M | $95.0M | ||
| Q4 24 | $94.6M | $65.0M | ||
| Q3 24 | $100.3M | $84.0M | ||
| Q2 24 | $58.1M | $39.0M | ||
| Q1 24 | $139.6M | $91.0M |
自由现金流CSGPTNET
| Q4 25 | $101.3M | $43.0M | ||
| Q3 25 | $-5.5M | $55.0M | ||
| Q2 25 | $27.7M | $57.0M | ||
| Q1 25 | $-500.0K | $79.0M | ||
| Q4 24 | $25.2M | $47.0M | ||
| Q3 24 | $40.2M | $59.0M | ||
| Q2 24 | $-14.7M | $22.0M | ||
| Q1 24 | $-237.1M | $73.0M |
自由现金流率CSGPTNET
| Q4 25 | 11.3% | 3.4% | ||
| Q3 25 | -0.7% | 4.5% | ||
| Q2 25 | 3.5% | 4.6% | ||
| Q1 25 | -0.1% | 6.1% | ||
| Q4 24 | 3.6% | 3.7% | ||
| Q3 24 | 5.8% | 4.8% | ||
| Q2 24 | -2.2% | 1.8% | ||
| Q1 24 | -36.1% | 5.8% |
资本支出强度CSGPTNET
| Q4 25 | 6.8% | 1.4% | ||
| Q3 25 | 8.8% | 1.4% | ||
| Q2 25 | 15.2% | 1.5% | ||
| Q1 25 | 7.3% | 1.2% | ||
| Q4 24 | 9.8% | 1.4% | ||
| Q3 24 | 8.7% | 2.0% | ||
| Q2 24 | 10.7% | 1.4% | ||
| Q1 24 | 57.4% | 1.4% |
现金转化率CSGPTNET
| Q4 25 | 3.49× | — | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | 23.63× | 2.03× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | 1.58× | — | ||
| Q3 24 | 1.89× | 1.87× | ||
| Q2 24 | 3.03× | 0.65× | ||
| Q1 24 | 20.84× | 1.00× |
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% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
