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CoStar Group（CSGP）与登士柏西诺德（XRAY）财务数据对比。点击上方公司名可切换其他公司
登士柏西诺德的季度营收约是CoStar Group的1.1倍（$961.0M vs $899.9M），CoStar Group净利率更高（5.2% vs -15.2%，领先20.4%），CoStar Group同比增速更快（26.9% vs 6.2%），CoStar Group自由现金流更多（$101.3M vs $60.0M），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。
登士柏西诺德是美国牙科设备及耗材制造商，业务覆盖全球120多个国家，在21个国家设有生产工厂。该公司前身为1993年Gendex公司以5.9亿美元收购登士柏国际后整合组建的企业，是全球牙科领域的重要供应商。
CSGP vs XRAY — 直观对比
营收规模更大
XRAY
是对方的1.1倍
$899.9M
营收增速更快
CSGP
高出20.7%
6.2%
净利率更高
CSGP
高出20.4%
-15.2%
自由现金流更多
CSGP
多$41.3M
$60.0M
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 | $961.0M |
| 净利润 | $46.5M | $-146.0M |
| 毛利率 | 78.6% | 46.1% |
| 营业利润率 | 5.5% | -14.5% |
| 净利率 | 5.2% | -15.2% |
| 营收同比 | 26.9% | 6.2% |
| 净利润同比 | -22.2% | 66.0% |
| 每股收益（稀释后） | $0.12 | $-0.74 |
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CSGPXRAY
| Q4 25 | $899.9M | $961.0M | ||
| Q3 25 | $833.6M | $904.0M | ||
| Q2 25 | $781.3M | $936.0M | ||
| Q1 25 | $732.2M | $879.0M | ||
| Q4 24 | $709.4M | $905.0M | ||
| Q3 24 | $692.6M | $951.0M | ||
| Q2 24 | $677.8M | $984.0M | ||
| Q1 24 | $656.4M | $953.0M |
净利润CSGPXRAY
| Q4 25 | $46.5M | $-146.0M | ||
| Q3 25 | $-30.9M | $-427.0M | ||
| Q2 25 | $6.2M | $-45.0M | ||
| Q1 25 | $-14.8M | $20.0M | ||
| Q4 24 | $59.8M | $-430.0M | ||
| Q3 24 | $53.0M | $-494.0M | ||
| Q2 24 | $19.2M | $-4.0M | ||
| Q1 24 | $6.7M | $18.0M |
毛利率CSGPXRAY
| Q4 25 | 78.6% | 46.1% | ||
| Q3 25 | 79.3% | 48.8% | ||
| Q2 25 | 78.5% | 52.4% | ||
| Q1 25 | 79.1% | 53.0% | ||
| Q4 24 | 80.1% | 49.3% | ||
| Q3 24 | 79.7% | 52.1% | ||
| Q2 24 | 80.0% | 51.9% | ||
| Q1 24 | 78.5% | 53.1% |
营业利润率CSGPXRAY
| Q4 25 | 5.5% | -14.5% | ||
| Q3 25 | -6.1% | -24.1% | ||
| Q2 25 | -3.5% | -13.7% | ||
| Q1 25 | -5.8% | 7.2% | ||
| Q4 24 | 5.6% | -56.2% | ||
| Q3 24 | 3.4% | -48.6% | ||
| Q2 24 | -2.4% | 5.1% | ||
| Q1 24 | -6.5% | 4.4% |
净利率CSGPXRAY
| Q4 25 | 5.2% | -15.2% | ||
| Q3 25 | -3.7% | -47.2% | ||
| Q2 25 | 0.8% | -4.8% | ||
| Q1 25 | -2.0% | 2.3% | ||
| Q4 24 | 8.4% | -47.5% | ||
| Q3 24 | 7.7% | -51.9% | ||
| Q2 24 | 2.8% | -0.4% | ||
| Q1 24 | 1.0% | 1.9% |
每股收益（稀释后）CSGPXRAY
| Q4 25 | $0.12 | $-0.74 | ||
| Q3 25 | $-0.07 | $-2.14 | ||
| Q2 25 | $0.01 | $-0.22 | ||
| Q1 25 | $-0.04 | $0.10 | ||
| Q4 24 | $0.14 | $-2.09 | ||
| Q3 24 | $0.13 | $-2.46 | ||
| Q2 24 | $0.05 | $-0.02 | ||
| Q1 24 | $0.02 | $0.09 |
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 | $326.0M |
| 总债务越低越好 | $140.0M | $2.3B |
| 股东权益账面价值 | $8.3B | $1.3B |
| 总资产 | $10.5B | $5.4B |
| 负债/权益比越低杠杆越低 | 0.02× | 1.70× |
8季度趋势，按日历期对齐
现金及短期投资CSGPXRAY
| Q4 25 | $1.6B | $326.0M | ||
| Q3 25 | $1.9B | $363.0M | ||
| Q2 25 | $3.6B | $359.0M | ||
| Q1 25 | $3.7B | $398.0M | ||
| Q4 24 | $4.7B | $272.0M | ||
| Q3 24 | — | $296.0M | ||
| Q2 24 | — | $279.0M | ||
| Q1 24 | — | $291.0M |
总债务CSGPXRAY
| Q4 25 | $140.0M | $2.3B | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $1.0B | $1.7B | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — | ||
| Q1 24 | $1.0B | — |
股东权益CSGPXRAY
| Q4 25 | $8.3B | $1.3B | ||
| Q3 25 | $8.6B | $1.5B | ||
| Q2 25 | $8.6B | $2.0B | ||
| Q1 25 | $8.6B | $2.0B | ||
| Q4 24 | $7.6B | $1.9B | ||
| Q3 24 | $7.5B | $2.5B | ||
| Q2 24 | $7.4B | $3.1B | ||
| Q1 24 | $7.3B | $3.3B |
总资产CSGPXRAY
| Q4 25 | $10.5B | $5.4B | ||
| Q3 25 | $10.8B | $5.7B | ||
| Q2 25 | $10.5B | $6.1B | ||
| Q1 25 | $10.4B | $6.0B | ||
| Q4 24 | $9.3B | $5.8B | ||
| Q3 24 | $9.1B | $6.6B | ||
| Q2 24 | $9.1B | $6.9B | ||
| Q1 24 | $9.0B | $7.1B |
负债/权益比CSGPXRAY
| Q4 25 | 0.02× | 1.70× | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.12× | — | ||
| Q4 24 | 0.13× | 0.90× | ||
| 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 | $101.0M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $60.0M |
| 自由现金流率自由现金流/营收 | 11.3% | 6.2% |
| 资本支出强度资本支出/营收 | 6.8% | 4.3% |
| 现金转化率经营现金流/净利润 | 3.49× | — |
| 过去12个月自由现金流最近4个季度 | $123.0M | $104.0M |
8季度趋势，按日历期对齐
经营现金流CSGPXRAY
| Q4 25 | $162.1M | $101.0M | ||
| Q3 25 | $68.2M | $79.0M | ||
| Q2 25 | $146.5M | $48.0M | ||
| Q1 25 | $53.2M | $7.0M | ||
| Q4 24 | $94.6M | $87.0M | ||
| Q3 24 | $100.3M | $141.0M | ||
| Q2 24 | $58.1M | $208.0M | ||
| Q1 24 | $139.6M | $25.0M |
自由现金流CSGPXRAY
| Q4 25 | $101.3M | $60.0M | ||
| Q3 25 | $-5.5M | $40.0M | ||
| Q2 25 | $27.7M | $16.0M | ||
| Q1 25 | $-500.0K | $-12.0M | ||
| Q4 24 | $25.2M | $36.0M | ||
| Q3 24 | $40.2M | $98.0M | ||
| Q2 24 | $-14.7M | $156.0M | ||
| Q1 24 | $-237.1M | $-9.0M |
自由现金流率CSGPXRAY
| Q4 25 | 11.3% | 6.2% | ||
| Q3 25 | -0.7% | 4.4% | ||
| Q2 25 | 3.5% | 1.7% | ||
| Q1 25 | -0.1% | -1.4% | ||
| Q4 24 | 3.6% | 4.0% | ||
| Q3 24 | 5.8% | 10.3% | ||
| Q2 24 | -2.2% | 15.9% | ||
| Q1 24 | -36.1% | -0.9% |
资本支出强度CSGPXRAY
| Q4 25 | 6.8% | 4.3% | ||
| Q3 25 | 8.8% | 4.3% | ||
| Q2 25 | 15.2% | 3.4% | ||
| Q1 25 | 7.3% | 2.2% | ||
| Q4 24 | 9.8% | 5.6% | ||
| Q3 24 | 8.7% | 4.5% | ||
| Q2 24 | 10.7% | 5.3% | ||
| Q1 24 | 57.4% | 3.6% |
现金转化率CSGPXRAY
| Q4 25 | 3.49× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 23.63× | — | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | 1.58× | — | ||
| Q3 24 | 1.89× | — | ||
| Q2 24 | 3.03× | — | ||
| Q1 24 | 20.84× | 1.39× |
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% |
XRAY
| Essential Dental Solutions | $372.0M | 39% |
| Equipment And Instruments | $160.0M | 17% |
| Implants And Prosthetics | $150.0M | 16% |
| CADCAM | $139.0M | 14% |
| Wellspect Healthcare | $88.0M | 9% |
| Orthodontics | $52.0M | 5% |
