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CoStar Group（CSGP）与VEEVA SYSTEMS INC（VEEV）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VEEVA SYSTEMS INC的1.1倍（$899.9M vs $811.2M），VEEVA SYSTEMS INC净利率更高（29.1% vs 5.2%，领先23.9%），CoStar Group同比增速更快（26.9% vs 16.0%），过去两年CoStar Group的营收复合增速更高（17.1% vs 13.4%）
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。
Veeva Systems Inc总部位于美国加利福尼亚州普莱森顿，是一家公益类上市企业，专注为生命科学行业提供云软件、数据服务及商业咨询，旗下产品可实现数据管理、监管注册跟踪、供应链全流程监督等多项功能。
CSGP vs VEEV — 直观对比
营收规模更大
CSGP
是对方的1.1倍
$811.2M
营收增速更快
CSGP
高出10.8%
16.0%
净利率更高
VEEV
高出23.9%
5.2%
两年增速更快
CSGP
近两年复合增速
13.4%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $811.2M |
| 净利润 | $46.5M | $236.2M |
| 毛利率 | 78.6% | 75.4% |
| 营业利润率 | 5.5% | 29.7% |
| 净利率 | 5.2% | 29.1% |
| 营收同比 | 26.9% | 16.0% |
| 净利润同比 | -22.2% | 27.1% |
| 每股收益（稀释后） | $0.12 | $1.40 |
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CSGPVEEV
| Q4 25 | $899.9M | $811.2M | ||
| Q3 25 | $833.6M | $789.1M | ||
| Q2 25 | $781.3M | $759.0M | ||
| Q1 25 | $732.2M | $720.9M | ||
| Q4 24 | $709.4M | $699.2M | ||
| Q3 24 | $692.6M | $676.2M | ||
| Q2 24 | $677.8M | $650.3M | ||
| Q1 24 | $656.4M | $630.6M |
净利润CSGPVEEV
| Q4 25 | $46.5M | $236.2M | ||
| Q3 25 | $-30.9M | $200.3M | ||
| Q2 25 | $6.2M | $228.2M | ||
| Q1 25 | $-14.8M | $195.6M | ||
| Q4 24 | $59.8M | $185.8M | ||
| Q3 24 | $53.0M | $171.0M | ||
| Q2 24 | $19.2M | $161.7M | ||
| Q1 24 | $6.7M | $147.4M |
毛利率CSGPVEEV
| Q4 25 | 78.6% | 75.4% | ||
| Q3 25 | 79.3% | 75.3% | ||
| Q2 25 | 78.5% | 77.1% | ||
| Q1 25 | 79.1% | 74.9% | ||
| Q4 24 | 80.1% | 75.1% | ||
| Q3 24 | 79.7% | 74.8% | ||
| Q2 24 | 80.0% | 73.3% | ||
| Q1 24 | 78.5% | 72.4% |
营业利润率CSGPVEEV
| Q4 25 | 5.5% | 29.7% | ||
| Q3 25 | -6.1% | 24.8% | ||
| Q2 25 | -3.5% | 30.8% | ||
| Q1 25 | -5.8% | 26.1% | ||
| Q4 24 | 5.6% | 25.9% | ||
| Q3 24 | 3.4% | 24.6% | ||
| Q2 24 | -2.4% | 23.9% | ||
| Q1 24 | -6.5% | 21.4% |
净利率CSGPVEEV
| Q4 25 | 5.2% | 29.1% | ||
| Q3 25 | -3.7% | 25.4% | ||
| Q2 25 | 0.8% | 30.1% | ||
| Q1 25 | -2.0% | 27.1% | ||
| Q4 24 | 8.4% | 26.6% | ||
| Q3 24 | 7.7% | 25.3% | ||
| Q2 24 | 2.8% | 24.9% | ||
| Q1 24 | 1.0% | 23.4% |
每股收益（稀释后）CSGPVEEV
| Q4 25 | $0.12 | $1.40 | ||
| Q3 25 | $-0.07 | $1.19 | ||
| Q2 25 | $0.01 | $1.37 | ||
| Q1 25 | $-0.04 | $1.17 | ||
| Q4 24 | $0.14 | $1.13 | ||
| Q3 24 | $0.13 | $1.04 | ||
| Q2 24 | $0.05 | $0.98 | ||
| Q1 24 | $0.02 | $0.90 |
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 | $1.7B |
| 总债务越低越好 | $140.0M | — |
| 股东权益账面价值 | $8.3B | $7.0B |
| 总资产 | $10.5B | $8.1B |
| 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CSGPVEEV
| Q4 25 | $1.6B | $1.7B | ||
| Q3 25 | $1.9B | $1.9B | ||
| Q2 25 | $3.6B | $2.0B | ||
| Q1 25 | $3.7B | $1.1B | ||
| Q4 24 | $4.7B | $1.0B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $703.5M |
总债务CSGPVEEV
| 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CSGPVEEV
| Q4 25 | $8.3B | $7.0B | ||
| Q3 25 | $8.6B | $6.6B | ||
| Q2 25 | $8.6B | $6.2B | ||
| Q1 25 | $8.6B | $5.8B | ||
| Q4 24 | $7.6B | $5.5B | ||
| Q3 24 | $7.5B | $5.2B | ||
| Q2 24 | $7.4B | $4.9B | ||
| Q1 24 | $7.3B | $4.6B |
总资产CSGPVEEV
| Q4 25 | $10.5B | $8.1B | ||
| Q3 25 | $10.8B | $8.0B | ||
| Q2 25 | $10.5B | $7.8B | ||
| Q1 25 | $10.4B | $7.3B | ||
| Q4 24 | $9.3B | $6.5B | ||
| Q3 24 | $9.1B | $6.3B | ||
| Q2 24 | $9.1B | $6.2B | ||
| Q1 24 | $9.0B | $5.9B |
负债/权益比CSGPVEEV
| 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 | $192.8M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | — |
| 自由现金流率自由现金流/营收 | 11.3% | — |
| 资本支出强度资本支出/营收 | 6.8% | — |
| 现金转化率经营现金流/净利润 | 3.49× | 0.82× |
| 过去12个月自由现金流最近4个季度 | $123.0M | — |
8季度趋势，按日历期对齐
经营现金流CSGPVEEV
| Q4 25 | $162.1M | $192.8M | ||
| Q3 25 | $68.2M | $238.4M | ||
| Q2 25 | $146.5M | $877.2M | ||
| Q1 25 | $53.2M | $69.5M | ||
| Q4 24 | $94.6M | $164.1M | ||
| Q3 24 | $100.3M | $92.9M | ||
| Q2 24 | $58.1M | $763.5M | ||
| Q1 24 | $139.6M | $57.8M |
自由现金流CSGPVEEV
| Q4 25 | $101.3M | — | ||
| Q3 25 | $-5.5M | — | ||
| Q2 25 | $27.7M | — | ||
| Q1 25 | $-500.0K | — | ||
| Q4 24 | $25.2M | — | ||
| Q3 24 | $40.2M | — | ||
| Q2 24 | $-14.7M | — | ||
| Q1 24 | $-237.1M | — |
自由现金流率CSGPVEEV
| Q4 25 | 11.3% | — | ||
| Q3 25 | -0.7% | — | ||
| Q2 25 | 3.5% | — | ||
| Q1 25 | -0.1% | — | ||
| Q4 24 | 3.6% | — | ||
| Q3 24 | 5.8% | — | ||
| Q2 24 | -2.2% | — | ||
| Q1 24 | -36.1% | — |
资本支出强度CSGPVEEV
| Q4 25 | 6.8% | — | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | 15.2% | — | ||
| Q1 25 | 7.3% | — | ||
| Q4 24 | 9.8% | — | ||
| Q3 24 | 8.7% | — | ||
| Q2 24 | 10.7% | — | ||
| Q1 24 | 57.4% | — |
现金转化率CSGPVEEV
| Q4 25 | 3.49× | 0.82× | ||
| Q3 25 | — | 1.19× | ||
| Q2 25 | 23.63× | 3.84× | ||
| Q1 25 | — | 0.36× | ||
| Q4 24 | 1.58× | 0.88× | ||
| Q3 24 | 1.89× | 0.54× | ||
| Q2 24 | 3.03× | 4.72× | ||
| Q1 24 | 20.84× | 0.39× |
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% |
VEEV
| Subscription Services Veeva Research And Development | $364.8M | 45% |
| Subscription Services Veeva Commercial Cloud | $317.6M | 39% |
| Professional Services Veeva Research And Development | $81.3M | 10% |
| Professional Services Veeva Commercial Cloud | $47.5M | 6% |
