vs
CoStar Group（CSGP）与Wendy's Co（WEN）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Wendy's Co的1.7倍（$899.9M vs $543.0M），CoStar Group净利率更高（5.2% vs 4.9%，领先0.3%），CoStar Group同比增速更快（26.9% vs -5.5%），CoStar Group自由现金流更多（$101.3M vs $31.4M），过去两年CoStar Group的营收复合增速更高（17.1% vs 0.8%）
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。
温蒂公司是美国知名快餐企业，是温蒂汉堡及First Kitchen的母公司，前身为Deisel-Wemmer公司，总部位于俄亥俄州都柏林。旗下核心子公司温蒂国际是温蒂汉堡餐厅的特许经营授权方，在全球快餐市场拥有较高的品牌辨识度。
CSGP vs WEN — 直观对比
营收规模更大
CSGP
是对方的1.7倍
$543.0M
营收增速更快
CSGP
高出32.3%
-5.5%
净利率更高
CSGP
高出0.3%
4.9%
自由现金流更多
CSGP
多$69.9M
$31.4M
两年增速更快
CSGP
近两年复合增速
0.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $543.0M |
| 净利润 | $46.5M | $26.5M |
| 毛利率 | 78.6% | 62.7% |
| 营业利润率 | 5.5% | 11.8% |
| 净利率 | 5.2% | 4.9% |
| 营收同比 | 26.9% | -5.5% |
| 净利润同比 | -22.2% | -44.2% |
| 每股收益（稀释后） | $0.12 | $0.14 |
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CSGPWEN
| Q4 25 | $899.9M | $543.0M | ||
| Q3 25 | $833.6M | $549.5M | ||
| Q2 25 | $781.3M | $560.9M | ||
| Q1 25 | $732.2M | $523.5M | ||
| Q4 24 | $709.4M | $574.3M | ||
| Q3 24 | $692.6M | $566.7M | ||
| Q2 24 | $677.8M | $570.7M | ||
| Q1 24 | $656.4M | $534.8M |
净利润CSGPWEN
| Q4 25 | $46.5M | $26.5M | ||
| Q3 25 | $-30.9M | $44.3M | ||
| Q2 25 | $6.2M | $55.1M | ||
| Q1 25 | $-14.8M | $39.2M | ||
| Q4 24 | $59.8M | $47.5M | ||
| Q3 24 | $53.0M | $50.2M | ||
| Q2 24 | $19.2M | $54.6M | ||
| Q1 24 | $6.7M | $42.0M |
毛利率CSGPWEN
| Q4 25 | 78.6% | 62.7% | ||
| Q3 25 | 79.3% | 62.8% | ||
| Q2 25 | 78.5% | 65.0% | ||
| Q1 25 | 79.1% | 64.1% | ||
| Q4 24 | 80.1% | 65.9% | ||
| Q3 24 | 79.7% | 65.5% | ||
| Q2 24 | 80.0% | 65.0% | ||
| Q1 24 | 78.5% | 64.1% |
营业利润率CSGPWEN
| Q4 25 | 5.5% | 11.8% | ||
| Q3 25 | -6.1% | 16.8% | ||
| Q2 25 | -3.5% | 18.6% | ||
| Q1 25 | -5.8% | 15.9% | ||
| Q4 24 | 5.6% | 16.7% | ||
| Q3 24 | 3.4% | 16.7% | ||
| Q2 24 | -2.4% | 17.4% | ||
| Q1 24 | -6.5% | 15.2% |
净利率CSGPWEN
| Q4 25 | 5.2% | 4.9% | ||
| Q3 25 | -3.7% | 8.1% | ||
| Q2 25 | 0.8% | 9.8% | ||
| Q1 25 | -2.0% | 7.5% | ||
| Q4 24 | 8.4% | 8.3% | ||
| Q3 24 | 7.7% | 8.9% | ||
| Q2 24 | 2.8% | 9.6% | ||
| Q1 24 | 1.0% | 7.9% |
每股收益（稀释后）CSGPWEN
| Q4 25 | $0.12 | $0.14 | ||
| Q3 25 | $-0.07 | $0.23 | ||
| Q2 25 | $0.01 | $0.29 | ||
| Q1 25 | $-0.04 | $0.19 | ||
| Q4 24 | $0.14 | $0.23 | ||
| Q3 24 | $0.13 | $0.25 | ||
| Q2 24 | $0.05 | $0.27 | ||
| Q1 24 | $0.02 | $0.20 |
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 | $300.8M |
| 总债务越低越好 | $140.0M | $2.8B |
| 股东权益账面价值 | $8.3B | $117.4M |
| 总资产 | $10.5B | $5.0B |
| 负债/权益比越低杠杆越低 | 0.02× | 23.51× |
8季度趋势，按日历期对齐
现金及短期投资CSGPWEN
| Q4 25 | $1.6B | $300.8M | ||
| Q3 25 | $1.9B | $291.4M | ||
| Q2 25 | $3.6B | $281.2M | ||
| Q1 25 | $3.7B | $335.3M | ||
| Q4 24 | $4.7B | $450.5M | ||
| Q3 24 | — | $482.2M | ||
| Q2 24 | — | $465.5M | ||
| Q1 24 | — | $498.3M |
总债务CSGPWEN
| Q4 25 | $140.0M | $2.8B | ||
| Q3 25 | $1.0B | $2.7B | ||
| Q2 25 | $1.0B | $2.7B | ||
| Q1 25 | $1.0B | $2.7B | ||
| Q4 24 | $1.0B | $2.7B | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.0B | — |
股东权益CSGPWEN
| Q4 25 | $8.3B | $117.4M | ||
| Q3 25 | $8.6B | $109.2M | ||
| Q2 25 | $8.6B | $112.9M | ||
| Q1 25 | $8.6B | $130.2M | ||
| Q4 24 | $7.6B | $259.4M | ||
| Q3 24 | $7.5B | $259.9M | ||
| Q2 24 | $7.4B | $273.8M | ||
| Q1 24 | $7.3B | $293.7M |
总资产CSGPWEN
| Q4 25 | $10.5B | $5.0B | ||
| Q3 25 | $10.8B | $5.0B | ||
| Q2 25 | $10.5B | $4.9B | ||
| Q1 25 | $10.4B | $4.9B | ||
| Q4 24 | $9.3B | $5.0B | ||
| Q3 24 | $9.1B | $5.1B | ||
| Q2 24 | $9.1B | $5.1B | ||
| Q1 24 | $9.0B | $5.2B |
负债/权益比CSGPWEN
| Q4 25 | 0.02× | 23.51× | ||
| Q3 25 | 0.12× | 24.95× | ||
| Q2 25 | 0.12× | 24.18× | ||
| Q1 25 | 0.12× | 21.00× | ||
| Q4 24 | 0.13× | 10.57× | ||
| 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 | $69.3M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $31.4M |
| 自由现金流率自由现金流/营收 | 11.3% | 5.8% |
| 资本支出强度资本支出/营收 | 6.8% | 7.0% |
| 现金转化率经营现金流/净利润 | 3.49× | 2.62× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $242.6M |
8季度趋势，按日历期对齐
经营现金流CSGPWEN
| Q4 25 | $162.1M | $69.3M | ||
| Q3 25 | $68.2M | $129.3M | ||
| Q2 25 | $146.5M | $60.6M | ||
| Q1 25 | $53.2M | $85.4M | ||
| Q4 24 | $94.6M | $68.6M | ||
| Q3 24 | $100.3M | $141.2M | ||
| Q2 24 | $58.1M | $45.5M | ||
| Q1 24 | $139.6M | $100.0M |
自由现金流CSGPWEN
| Q4 25 | $101.3M | $31.4M | ||
| Q3 25 | $-5.5M | $104.3M | ||
| Q2 25 | $27.7M | $39.2M | ||
| Q1 25 | $-500.0K | $67.7M | ||
| Q4 24 | $25.2M | $26.6M | ||
| Q3 24 | $40.2M | $123.3M | ||
| Q2 24 | $-14.7M | $28.4M | ||
| Q1 24 | $-237.1M | $82.6M |
自由现金流率CSGPWEN
| Q4 25 | 11.3% | 5.8% | ||
| Q3 25 | -0.7% | 19.0% | ||
| Q2 25 | 3.5% | 7.0% | ||
| Q1 25 | -0.1% | 12.9% | ||
| Q4 24 | 3.6% | 4.6% | ||
| Q3 24 | 5.8% | 21.8% | ||
| Q2 24 | -2.2% | 5.0% | ||
| Q1 24 | -36.1% | 15.5% |
资本支出强度CSGPWEN
| Q4 25 | 6.8% | 7.0% | ||
| Q3 25 | 8.8% | 4.5% | ||
| Q2 25 | 15.2% | 3.8% | ||
| Q1 25 | 7.3% | 3.4% | ||
| Q4 24 | 9.8% | 7.3% | ||
| Q3 24 | 8.7% | 3.2% | ||
| Q2 24 | 10.7% | 3.0% | ||
| Q1 24 | 57.4% | 3.2% |
现金转化率CSGPWEN
| Q4 25 | 3.49× | 2.62× | ||
| Q3 25 | — | 2.92× | ||
| Q2 25 | 23.63× | 1.10× | ||
| Q1 25 | — | 2.18× | ||
| Q4 24 | 1.58× | 1.44× | ||
| Q3 24 | 1.89× | 2.81× | ||
| Q2 24 | 3.03× | 0.83× | ||
| Q1 24 | 20.84× | 2.38× |
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% |
WEN
| Franchise Royalty Revenueand Fees | $149.3M | 27% |
| Royalty | $103.6M | 19% |
| Advertising | $103.3M | 19% |
| Global Real Estate Development | $60.5M | 11% |
| Real Estate | $59.5M | 11% |
| Wendys International | $39.5M | 7% |
| Franchise | $21.5M | 4% |
