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CoStar Group（CSGP）与Tyler Technologies（TYL）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Tyler Technologies的1.6倍（$899.9M vs $575.2M），Tyler Technologies净利率更高（11.4% vs 5.2%，领先6.2%），CoStar Group同比增速更快（26.9% vs 6.3%），Tyler Technologies自由现金流更多（$239.6M vs $101.3M），过去两年CoStar Group的营收复合增速更高（17.1% vs 6.0%）
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。
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
CSGP vs TYL — 直观对比
营收规模更大
CSGP
是对方的1.6倍
$575.2M
营收增速更快
CSGP
高出20.6%
6.3%
净利率更高
TYL
高出6.2%
5.2%
自由现金流更多
TYL
多$138.3M
$101.3M
两年增速更快
CSGP
近两年复合增速
6.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $575.2M |
| 净利润 | $46.5M | $65.5M |
| 毛利率 | 78.6% | 45.5% |
| 营业利润率 | 5.5% | 13.0% |
| 净利率 | 5.2% | 11.4% |
| 营收同比 | 26.9% | 6.3% |
| 净利润同比 | -22.2% | 0.5% |
| 每股收益（稀释后） | $0.12 | $1.50 |
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CSGPTYL
| Q4 25 | $899.9M | $575.2M | ||
| Q3 25 | $833.6M | $595.9M | ||
| Q2 25 | $781.3M | $596.1M | ||
| Q1 25 | $732.2M | $565.2M | ||
| Q4 24 | $709.4M | $541.1M | ||
| Q3 24 | $692.6M | $543.3M | ||
| Q2 24 | $677.8M | $541.0M | ||
| Q1 24 | $656.4M | $512.4M |
净利润CSGPTYL
| Q4 25 | $46.5M | $65.5M | ||
| Q3 25 | $-30.9M | $84.4M | ||
| Q2 25 | $6.2M | $84.6M | ||
| Q1 25 | $-14.8M | $81.1M | ||
| Q4 24 | $59.8M | $65.2M | ||
| Q3 24 | $53.0M | $75.9M | ||
| Q2 24 | $19.2M | $67.7M | ||
| Q1 24 | $6.7M | $54.2M |
毛利率CSGPTYL
| Q4 25 | 78.6% | 45.5% | ||
| Q3 25 | 79.3% | 47.2% | ||
| Q2 25 | 78.5% | 45.8% | ||
| Q1 25 | 79.1% | 47.3% | ||
| Q4 24 | 80.1% | 43.8% | ||
| Q3 24 | 79.7% | 43.7% | ||
| Q2 24 | 80.0% | 44.0% | ||
| Q1 24 | 78.5% | 43.7% |
营业利润率CSGPTYL
| Q4 25 | 5.5% | 13.0% | ||
| Q3 25 | -6.1% | 16.4% | ||
| Q2 25 | -3.5% | 16.0% | ||
| Q1 25 | -5.8% | 15.8% | ||
| Q4 24 | 5.6% | 13.2% | ||
| Q3 24 | 3.4% | 15.2% | ||
| Q2 24 | -2.4% | 14.4% | ||
| Q1 24 | -6.5% | 13.1% |
净利率CSGPTYL
| Q4 25 | 5.2% | 11.4% | ||
| Q3 25 | -3.7% | 14.2% | ||
| Q2 25 | 0.8% | 14.2% | ||
| Q1 25 | -2.0% | 14.3% | ||
| Q4 24 | 8.4% | 12.1% | ||
| Q3 24 | 7.7% | 14.0% | ||
| Q2 24 | 2.8% | 12.5% | ||
| Q1 24 | 1.0% | 10.6% |
每股收益（稀释后）CSGPTYL
| Q4 25 | $0.12 | $1.50 | ||
| Q3 25 | $-0.07 | $1.93 | ||
| Q2 25 | $0.01 | $1.93 | ||
| Q1 25 | $-0.04 | $1.84 | ||
| Q4 24 | $0.14 | $1.48 | ||
| Q3 24 | $0.13 | $1.74 | ||
| Q2 24 | $0.05 | $1.57 | ||
| Q1 24 | $0.02 | $1.26 |
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 | $1.1B |
| 总债务越低越好 | $140.0M | $599.7M |
| 股东权益账面价值 | $8.3B | $3.7B |
| 总资产 | $10.5B | $5.6B |
| 负债/权益比越低杠杆越低 | 0.02× | 0.16× |
8季度趋势，按日历期对齐
现金及短期投资CSGPTYL
| Q4 25 | $1.6B | $1.1B | ||
| Q3 25 | $1.9B | $950.8M | ||
| Q2 25 | $3.6B | $892.3M | ||
| Q1 25 | $3.7B | $807.4M | ||
| Q4 24 | $4.7B | $768.0M | ||
| Q3 24 | — | $544.3M | ||
| Q2 24 | — | $258.0M | ||
| Q1 24 | — | $196.9M |
总债务CSGPTYL
| Q4 25 | $140.0M | $599.7M | ||
| Q3 25 | $1.0B | $599.2M | ||
| Q2 25 | $1.0B | $598.8M | ||
| Q1 25 | $1.0B | $598.4M | ||
| Q4 24 | $1.0B | $597.9M | ||
| Q3 24 | $1.0B | $597.5M | ||
| Q2 24 | $1.0B | $597.1M | ||
| Q1 24 | $1.0B | $596.6M |
股东权益CSGPTYL
| Q4 25 | $8.3B | $3.7B | ||
| Q3 25 | $8.6B | $3.6B | ||
| Q2 25 | $8.6B | $3.6B | ||
| Q1 25 | $8.6B | $3.5B | ||
| Q4 24 | $7.6B | $3.4B | ||
| Q3 24 | $7.5B | $3.3B | ||
| Q2 24 | $7.4B | $3.1B | ||
| Q1 24 | $7.3B | $3.0B |
总资产CSGPTYL
| Q4 25 | $10.5B | $5.6B | ||
| Q3 25 | $10.8B | $5.5B | ||
| Q2 25 | $10.5B | $5.4B | ||
| Q1 25 | $10.4B | $5.2B | ||
| Q4 24 | $9.3B | $5.2B | ||
| Q3 24 | $9.1B | $5.0B | ||
| Q2 24 | $9.1B | $4.8B | ||
| Q1 24 | $9.0B | $4.6B |
负债/权益比CSGPTYL
| Q4 25 | 0.02× | 0.16× | ||
| Q3 25 | 0.12× | 0.17× | ||
| Q2 25 | 0.12× | 0.16× | ||
| Q1 25 | 0.12× | 0.17× | ||
| Q4 24 | 0.13× | 0.18× | ||
| Q3 24 | 0.13× | 0.18× | ||
| Q2 24 | 0.14× | 0.19× | ||
| Q1 24 | 0.14× | 0.20× |
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 | $243.9M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $239.6M |
| 自由现金流率自由现金流/营收 | 11.3% | 41.7% |
| 资本支出强度资本支出/营收 | 6.8% | 0.8% |
| 现金转化率经营现金流/净利润 | 3.49× | 3.72× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $637.5M |
8季度趋势，按日历期对齐
经营现金流CSGPTYL
| Q4 25 | $162.1M | $243.9M | ||
| Q3 25 | $68.2M | $255.2M | ||
| Q2 25 | $146.5M | $98.3M | ||
| Q1 25 | $53.2M | $56.2M | ||
| Q4 24 | $94.6M | $224.8M | ||
| Q3 24 | $100.3M | $263.7M | ||
| Q2 24 | $58.1M | $64.3M | ||
| Q1 24 | $139.6M | $71.8M |
自由现金流CSGPTYL
| Q4 25 | $101.3M | $239.6M | ||
| Q3 25 | $-5.5M | $251.3M | ||
| Q2 25 | $27.7M | $92.8M | ||
| Q1 25 | $-500.0K | $53.8M | ||
| Q4 24 | $25.2M | $221.0M | ||
| Q3 24 | $40.2M | $260.8M | ||
| Q2 24 | $-14.7M | $57.7M | ||
| Q1 24 | $-237.1M | $64.6M |
自由现金流率CSGPTYL
| Q4 25 | 11.3% | 41.7% | ||
| Q3 25 | -0.7% | 42.2% | ||
| Q2 25 | 3.5% | 15.6% | ||
| Q1 25 | -0.1% | 9.5% | ||
| Q4 24 | 3.6% | 40.8% | ||
| Q3 24 | 5.8% | 48.0% | ||
| Q2 24 | -2.2% | 10.7% | ||
| Q1 24 | -36.1% | 12.6% |
资本支出强度CSGPTYL
| Q4 25 | 6.8% | 0.8% | ||
| Q3 25 | 8.8% | 0.7% | ||
| Q2 25 | 15.2% | 0.9% | ||
| Q1 25 | 7.3% | 0.4% | ||
| Q4 24 | 9.8% | 0.7% | ||
| Q3 24 | 8.7% | 0.5% | ||
| Q2 24 | 10.7% | 1.2% | ||
| Q1 24 | 57.4% | 1.4% |
现金转化率CSGPTYL
| Q4 25 | 3.49× | 3.72× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | 23.63× | 1.16× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | 1.58× | 3.45× | ||
| Q3 24 | 1.89× | 3.47× | ||
| Q2 24 | 3.03× | 0.95× | ||
| Q1 24 | 20.84× | 1.33× |
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% |
TYL
| Saas Arrangements | $186.1M | 32% |
| Platform Technologies Segment | $143.3M | 25% |
| Maintenance | $109.4M | 19% |
| Professional Services | $55.3M | 10% |
| Nonrecurring Revenue | $51.3M | 9% |
| Other | $21.4M | 4% |
| Hardware And Other | $8.4M | 1% |
