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CoStar Group（CSGP）与WATSCO INC（WSO）财务数据对比。点击上方公司名可切换其他公司
WATSCO INC的季度营收约是CoStar Group的1.8倍（$1.6B vs $899.9M），CoStar Group净利率更高（5.2% vs 4.5%，领先0.6%），CoStar Group同比增速更快（26.9% vs -10.0%），WATSCO INC自由现金流更多（$388.5M vs $101.3M），过去两年CoStar Group的营收复合增速更高（17.1% vs 0.4%）
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。
Watsco Inc.是美国暖通空调、供暖及制冷（HVAC/R）设备及相关零部件、耗材的专业分销商。公司成立至今已超60年，最初主营HVAC/R行业相关零部件、工具制造业务，1989年通过收购佛罗里达州南部的瑞姆品牌分销商Gemaire Distributors Inc，正式从制造赛道转向分销领域。
CSGP vs WSO — 直观对比
营收规模更大
WSO
是对方的1.8倍
$899.9M
营收增速更快
CSGP
高出36.8%
-10.0%
净利率更高
CSGP
高出0.6%
4.5%
自由现金流更多
WSO
多$287.2M
$101.3M
两年增速更快
CSGP
近两年复合增速
0.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $1.6B |
| 净利润 | $46.5M | $71.7M |
| 毛利率 | 78.6% | 27.1% |
| 营业利润率 | 5.5% | 6.4% |
| 净利率 | 5.2% | 4.5% |
| 营收同比 | 26.9% | -10.0% |
| 净利润同比 | -22.2% | -25.9% |
| 每股收益（稀释后） | $0.12 | $1.82 |
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CSGPWSO
| Q4 25 | $899.9M | $1.6B | ||
| Q3 25 | $833.6M | $2.1B | ||
| Q2 25 | $781.3M | $2.1B | ||
| Q1 25 | $732.2M | $1.5B | ||
| Q4 24 | $709.4M | $1.8B | ||
| Q3 24 | $692.6M | $2.2B | ||
| Q2 24 | $677.8M | $2.1B | ||
| Q1 24 | $656.4M | $1.6B |
净利润CSGPWSO
| Q4 25 | $46.5M | $71.7M | ||
| Q3 25 | $-30.9M | $161.6M | ||
| Q2 25 | $6.2M | $183.6M | ||
| Q1 25 | $-14.8M | $80.1M | ||
| Q4 24 | $59.8M | $96.8M | ||
| Q3 24 | $53.0M | $171.0M | ||
| Q2 24 | $19.2M | $181.4M | ||
| Q1 24 | $6.7M | $87.0M |
毛利率CSGPWSO
| Q4 25 | 78.6% | 27.1% | ||
| Q3 25 | 79.3% | 27.5% | ||
| Q2 25 | 78.5% | 29.3% | ||
| Q1 25 | 79.1% | 28.1% | ||
| Q4 24 | 80.1% | 26.7% | ||
| Q3 24 | 79.7% | 26.2% | ||
| Q2 24 | 80.0% | 27.1% | ||
| Q1 24 | 78.5% | 27.5% |
营业利润率CSGPWSO
| Q4 25 | 5.5% | 6.4% | ||
| Q3 25 | -6.1% | 11.4% | ||
| Q2 25 | -3.5% | 13.2% | ||
| Q1 25 | -5.8% | 7.3% | ||
| Q4 24 | 5.6% | 7.8% | ||
| Q3 24 | 3.4% | 11.6% | ||
| Q2 24 | -2.4% | 12.6% | ||
| Q1 24 | -6.5% | 8.1% |
净利率CSGPWSO
| Q4 25 | 5.2% | 4.5% | ||
| Q3 25 | -3.7% | 7.8% | ||
| Q2 25 | 0.8% | 8.9% | ||
| Q1 25 | -2.0% | 5.2% | ||
| Q4 24 | 8.4% | 5.5% | ||
| Q3 24 | 7.7% | 7.9% | ||
| Q2 24 | 2.8% | 8.5% | ||
| Q1 24 | 1.0% | 5.6% |
每股收益（稀释后）CSGPWSO
| Q4 25 | $0.12 | $1.82 | ||
| Q3 25 | $-0.07 | $3.98 | ||
| Q2 25 | $0.01 | $4.52 | ||
| Q1 25 | $-0.04 | $1.93 | ||
| Q4 24 | $0.14 | $2.42 | ||
| Q3 24 | $0.13 | $4.22 | ||
| Q2 24 | $0.05 | $4.49 | ||
| Q1 24 | $0.02 | $2.17 |
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 | $733.3M |
| 总债务越低越好 | $140.0M | $361.6M |
| 股东权益账面价值 | $8.3B | $2.8B |
| 总资产 | $10.5B | $4.4B |
| 负债/权益比越低杠杆越低 | 0.02× | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资CSGPWSO
| Q4 25 | $1.6B | $733.3M | ||
| Q3 25 | $1.9B | $524.3M | ||
| Q2 25 | $3.6B | $293.0M | ||
| Q1 25 | $3.7B | $431.8M | ||
| Q4 24 | $4.7B | $781.9M | ||
| Q3 24 | — | $550.0M | ||
| Q2 24 | — | $424.9M | ||
| Q1 24 | — | $478.9M |
总债务CSGPWSO
| Q4 25 | $140.0M | $361.6M | ||
| Q3 25 | $1.0B | $340.8M | ||
| Q2 25 | $1.0B | $338.7M | ||
| Q1 25 | $1.0B | $346.4M | ||
| Q4 24 | $1.0B | $337.2M | ||
| Q3 24 | $1.0B | $321.0M | ||
| Q2 24 | $1.0B | $307.1M | ||
| Q1 24 | $1.0B | $306.3M |
股东权益CSGPWSO
| Q4 25 | $8.3B | $2.8B | ||
| Q3 25 | $8.6B | $2.8B | ||
| Q2 25 | $8.6B | $2.8B | ||
| Q1 25 | $8.6B | $2.7B | ||
| Q4 24 | $7.6B | $2.7B | ||
| Q3 24 | $7.5B | $2.7B | ||
| Q2 24 | $7.4B | $2.6B | ||
| Q1 24 | $7.3B | $2.5B |
总资产CSGPWSO
| Q4 25 | $10.5B | $4.4B | ||
| Q3 25 | $10.8B | $4.6B | ||
| Q2 25 | $10.5B | $4.7B | ||
| Q1 25 | $10.4B | $4.5B | ||
| Q4 24 | $9.3B | $4.5B | ||
| Q3 24 | $9.1B | $4.5B | ||
| Q2 24 | $9.1B | $4.4B | ||
| Q1 24 | $9.0B | $4.4B |
负债/权益比CSGPWSO
| Q4 25 | 0.02× | 0.13× | ||
| Q3 25 | 0.12× | 0.12× | ||
| Q2 25 | 0.12× | 0.12× | ||
| Q1 25 | 0.12× | 0.13× | ||
| Q4 24 | 0.13× | 0.13× | ||
| Q3 24 | 0.13× | 0.12× | ||
| Q2 24 | 0.14× | 0.12× | ||
| Q1 24 | 0.14× | 0.12× |
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 | $399.8M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $388.5M |
| 自由现金流率自由现金流/营收 | 11.3% | 24.6% |
| 资本支出强度资本支出/营收 | 6.8% | 0.7% |
| 现金转化率经营现金流/净利润 | 3.49× | 5.57× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $535.1M |
8季度趋势，按日历期对齐
经营现金流CSGPWSO
| Q4 25 | $162.1M | $399.8M | ||
| Q3 25 | $68.2M | $354.9M | ||
| Q2 25 | $146.5M | $-7.4M | ||
| Q1 25 | $53.2M | $-177.6M | ||
| Q4 24 | $94.6M | $378.9M | ||
| Q3 24 | $100.3M | $232.8M | ||
| Q2 24 | $58.1M | $57.7M | ||
| Q1 24 | $139.6M | $103.7M |
自由现金流CSGPWSO
| Q4 25 | $101.3M | $388.5M | ||
| Q3 25 | $-5.5M | $346.1M | ||
| Q2 25 | $27.7M | $-14.3M | ||
| Q1 25 | $-500.0K | $-185.2M | ||
| Q4 24 | $25.2M | $370.9M | ||
| Q3 24 | $40.2M | $223.0M | ||
| Q2 24 | $-14.7M | $51.3M | ||
| Q1 24 | $-237.1M | $97.9M |
自由现金流率CSGPWSO
| Q4 25 | 11.3% | 24.6% | ||
| Q3 25 | -0.7% | 16.7% | ||
| Q2 25 | 3.5% | -0.7% | ||
| Q1 25 | -0.1% | -12.1% | ||
| Q4 24 | 3.6% | 21.1% | ||
| Q3 24 | 5.8% | 10.3% | ||
| Q2 24 | -2.2% | 2.4% | ||
| Q1 24 | -36.1% | 6.3% |
资本支出强度CSGPWSO
| Q4 25 | 6.8% | 0.7% | ||
| Q3 25 | 8.8% | 0.4% | ||
| Q2 25 | 15.2% | 0.3% | ||
| Q1 25 | 7.3% | 0.5% | ||
| Q4 24 | 9.8% | 0.5% | ||
| Q3 24 | 8.7% | 0.5% | ||
| Q2 24 | 10.7% | 0.3% | ||
| Q1 24 | 57.4% | 0.4% |
现金转化率CSGPWSO
| Q4 25 | 3.49× | 5.57× | ||
| Q3 25 | — | 2.20× | ||
| Q2 25 | 23.63× | -0.04× | ||
| Q1 25 | — | -2.22× | ||
| Q4 24 | 1.58× | 3.91× | ||
| Q3 24 | 1.89× | 1.36× | ||
| Q2 24 | 3.03× | 0.32× | ||
| Q1 24 | 20.84× | 1.19× |
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% |
WSO
暂无分部数据
