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CoStar Group（CSGP）与Trade Desk (The)（TTD）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Trade Desk (The)的1.1倍（$899.9M vs $846.8M），Trade Desk (The)净利率更高（22.1% vs 5.2%，领先16.9%），CoStar Group同比增速更快（26.9% vs 14.3%），Trade Desk (The)自由现金流更多（$285.3M vs $101.3M），过去两年Trade Desk (The)的营收复合增速更高（31.3% 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。
The Trade Desk是来自美国的跨国科技企业，专注于实时程序化营销自动化领域的技术、产品与服务研发，可实现面向用户的个性化数字内容分发，为全球广告营销行业客户提供专业解决方案。
CSGP vs TTD — 直观对比
营收规模更大
CSGP
是对方的1.1倍
$846.8M
营收增速更快
CSGP
高出12.6%
14.3%
净利率更高
TTD
高出16.9%
5.2%
自由现金流更多
TTD
多$184.0M
$101.3M
两年增速更快
TTD
近两年复合增速
17.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $846.8M |
| 净利润 | $46.5M | $186.9M |
| 毛利率 | 78.6% | 80.7% |
| 营业利润率 | 5.5% | 30.3% |
| 净利率 | 5.2% | 22.1% |
| 营收同比 | 26.9% | 14.3% |
| 净利润同比 | -22.2% | 2.6% |
| 每股收益（稀释后） | $0.12 | $0.39 |
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CSGPTTD
| Q4 25 | $899.9M | $846.8M | ||
| Q3 25 | $833.6M | $739.4M | ||
| Q2 25 | $781.3M | $694.0M | ||
| Q1 25 | $732.2M | $616.0M | ||
| Q4 24 | $709.4M | $741.0M | ||
| Q3 24 | $692.6M | $628.0M | ||
| Q2 24 | $677.8M | $584.5M | ||
| Q1 24 | $656.4M | $491.3M |
净利润CSGPTTD
| Q4 25 | $46.5M | $186.9M | ||
| Q3 25 | $-30.9M | $115.5M | ||
| Q2 25 | $6.2M | $90.1M | ||
| Q1 25 | $-14.8M | $50.7M | ||
| Q4 24 | $59.8M | $182.2M | ||
| Q3 24 | $53.0M | $94.2M | ||
| Q2 24 | $19.2M | $85.0M | ||
| Q1 24 | $6.7M | $31.7M |
毛利率CSGPTTD
| Q4 25 | 78.6% | 80.7% | ||
| Q3 25 | 79.3% | 78.1% | ||
| Q2 25 | 78.5% | 78.2% | ||
| Q1 25 | 79.1% | 76.8% | ||
| Q4 24 | 80.1% | 81.7% | ||
| Q3 24 | 79.7% | 80.5% | ||
| Q2 24 | 80.0% | 81.1% | ||
| Q1 24 | 78.5% | 78.9% |
营业利润率CSGPTTD
| Q4 25 | 5.5% | 30.3% | ||
| Q3 25 | -6.1% | 21.8% | ||
| Q2 25 | -3.5% | 16.8% | ||
| Q1 25 | -5.8% | 8.8% | ||
| Q4 24 | 5.6% | 26.4% | ||
| Q3 24 | 3.4% | 17.3% | ||
| Q2 24 | -2.4% | 16.2% | ||
| Q1 24 | -6.5% | 5.8% |
净利率CSGPTTD
| Q4 25 | 5.2% | 22.1% | ||
| Q3 25 | -3.7% | 15.6% | ||
| Q2 25 | 0.8% | 13.0% | ||
| Q1 25 | -2.0% | 8.2% | ||
| Q4 24 | 8.4% | 24.6% | ||
| Q3 24 | 7.7% | 15.0% | ||
| Q2 24 | 2.8% | 14.5% | ||
| Q1 24 | 1.0% | 6.4% |
每股收益（稀释后）CSGPTTD
| Q4 25 | $0.12 | $0.39 | ||
| Q3 25 | $-0.07 | $0.23 | ||
| Q2 25 | $0.01 | $0.18 | ||
| Q1 25 | $-0.04 | $0.10 | ||
| Q4 24 | $0.14 | $0.36 | ||
| Q3 24 | $0.13 | $0.19 | ||
| Q2 24 | $0.05 | $0.17 | ||
| Q1 24 | $0.02 | $0.06 |
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 | $1.3B |
| 总债务越低越好 | $140.0M | — |
| 股东权益账面价值 | $8.3B | $2.5B |
| 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CSGPTTD
| Q4 25 | $1.6B | $1.3B | ||
| Q3 25 | $1.9B | $1.4B | ||
| Q2 25 | $3.6B | $1.7B | ||
| Q1 25 | $3.7B | $1.7B | ||
| Q4 24 | $4.7B | $1.9B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.4B |
总债务CSGPTTD
| 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CSGPTTD
| Q4 25 | $8.3B | $2.5B | ||
| Q3 25 | $8.6B | $2.6B | ||
| Q2 25 | $8.6B | $2.7B | ||
| Q1 25 | $8.6B | $2.7B | ||
| Q4 24 | $7.6B | $2.9B | ||
| Q3 24 | $7.5B | $2.6B | ||
| Q2 24 | $7.4B | $2.4B | ||
| Q1 24 | $7.3B | $2.2B |
总资产CSGPTTD
| Q4 25 | $10.5B | $6.2B | ||
| Q3 25 | $10.8B | $5.9B | ||
| Q2 25 | $10.5B | $6.0B | ||
| Q1 25 | $10.4B | $5.7B | ||
| Q4 24 | $9.3B | $6.1B | ||
| Q3 24 | $9.1B | $5.5B | ||
| Q2 24 | $9.1B | $5.2B | ||
| Q1 24 | $9.0B | $4.7B |
负债/权益比CSGPTTD
| 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 | $311.6M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $285.3M |
| 自由现金流率自由现金流/营收 | 11.3% | 33.7% |
| 资本支出强度资本支出/营收 | 6.8% | 3.1% |
| 现金转化率经营现金流/净利润 | 3.49× | 1.67× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $795.7M |
8季度趋势，按日历期对齐
经营现金流CSGPTTD
| Q4 25 | $162.1M | $311.6M | ||
| Q3 25 | $68.2M | $224.7M | ||
| Q2 25 | $146.5M | $165.0M | ||
| Q1 25 | $53.2M | $291.4M | ||
| Q4 24 | $94.6M | $199.4M | ||
| Q3 24 | $100.3M | $273.3M | ||
| Q2 24 | $58.1M | $81.3M | ||
| Q1 24 | $139.6M | $185.5M |
自由现金流CSGPTTD
| Q4 25 | $101.3M | $285.3M | ||
| Q3 25 | $-5.5M | $158.3M | ||
| Q2 25 | $27.7M | $119.8M | ||
| Q1 25 | $-500.0K | $232.3M | ||
| Q4 24 | $25.2M | $179.2M | ||
| Q3 24 | $40.2M | $224.6M | ||
| Q2 24 | $-14.7M | $59.1M | ||
| Q1 24 | $-237.1M | $178.2M |
自由现金流率CSGPTTD
| Q4 25 | 11.3% | 33.7% | ||
| Q3 25 | -0.7% | 21.4% | ||
| Q2 25 | 3.5% | 17.3% | ||
| Q1 25 | -0.1% | 37.7% | ||
| Q4 24 | 3.6% | 24.2% | ||
| Q3 24 | 5.8% | 35.8% | ||
| Q2 24 | -2.2% | 10.1% | ||
| Q1 24 | -36.1% | 36.3% |
资本支出强度CSGPTTD
| Q4 25 | 6.8% | 3.1% | ||
| Q3 25 | 8.8% | 9.0% | ||
| Q2 25 | 15.2% | 6.5% | ||
| Q1 25 | 7.3% | 9.6% | ||
| Q4 24 | 9.8% | 2.7% | ||
| Q3 24 | 8.7% | 7.8% | ||
| Q2 24 | 10.7% | 3.8% | ||
| Q1 24 | 57.4% | 1.5% |
现金转化率CSGPTTD
| Q4 25 | 3.49× | 1.67× | ||
| Q3 25 | — | 1.94× | ||
| Q2 25 | 23.63× | 1.83× | ||
| Q1 25 | — | 5.75× | ||
| Q4 24 | 1.58× | 1.09× | ||
| Q3 24 | 1.89× | 2.90× | ||
| Q2 24 | 3.03× | 0.96× | ||
| Q1 24 | 20.84× | 5.86× |
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% |
TTD
| Other | $427.2M | 50% |
| Non Us | $419.6M | 50% |
