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CoStar Group（CSGP）与ZILLOW GROUP, INC.（ZG）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ZILLOW GROUP, INC.的1.4倍（$899.9M vs $654.0M），CoStar Group净利率更高（5.2% vs 0.5%，领先4.7%），CoStar Group同比增速更快（26.9% vs 18.1%），CoStar Group自由现金流更多（$101.3M vs $44.0M），过去两年CoStar Group的营收复合增速更高（17.1% vs 11.2%）
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。
Zillow集团是美国头部房地产科技线上平台企业，2006年由前微软高管里奇·巴顿、劳埃德·弗林克等联合创立，业务涵盖房产信息查询、交易配套服务等，是全球房产科技领域的知名代表企业。
CSGP vs ZG — 直观对比
营收规模更大
CSGP
是对方的1.4倍
$654.0M
营收增速更快
CSGP
高出8.8%
18.1%
净利率更高
CSGP
高出4.7%
0.5%
自由现金流更多
CSGP
多$57.3M
$44.0M
两年增速更快
CSGP
近两年复合增速
11.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $899.9M | $654.0M |
| 净利润 | $46.5M | $3.0M |
| 毛利率 | 78.6% | 72.8% |
| 营业利润率 | 5.5% | -1.7% |
| 净利率 | 5.2% | 0.5% |
| 营收同比 | 26.9% | 18.1% |
| 净利润同比 | -22.2% | 105.8% |
| 每股收益（稀释后） | $0.12 | $0.01 |
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CSGPZG
| Q4 25 | $899.9M | $654.0M | ||
| Q3 25 | $833.6M | $676.0M | ||
| Q2 25 | $781.3M | $655.0M | ||
| Q1 25 | $732.2M | $598.0M | ||
| Q4 24 | $709.4M | $554.0M | ||
| Q3 24 | $692.6M | $581.0M | ||
| Q2 24 | $677.8M | $572.0M | ||
| Q1 24 | $656.4M | $529.0M |
净利润CSGPZG
| Q4 25 | $46.5M | $3.0M | ||
| Q3 25 | $-30.9M | $10.0M | ||
| Q2 25 | $6.2M | $2.0M | ||
| Q1 25 | $-14.8M | $8.0M | ||
| Q4 24 | $59.8M | $-52.0M | ||
| Q3 24 | $53.0M | $-20.0M | ||
| Q2 24 | $19.2M | $-17.0M | ||
| Q1 24 | $6.7M | $-23.0M |
毛利率CSGPZG
| Q4 25 | 78.6% | 72.8% | ||
| Q3 25 | 79.3% | 72.6% | ||
| Q2 25 | 78.5% | 74.7% | ||
| Q1 25 | 79.1% | 76.8% | ||
| Q4 24 | 80.1% | 75.8% | ||
| Q3 24 | 79.7% | 75.9% | ||
| Q2 24 | 80.0% | 77.3% | ||
| Q1 24 | 78.5% | 76.7% |
营业利润率CSGPZG
| Q4 25 | 5.5% | -1.7% | ||
| Q3 25 | -6.1% | -0.4% | ||
| Q2 25 | -3.5% | -1.7% | ||
| Q1 25 | -5.8% | -1.5% | ||
| Q4 24 | 5.6% | -12.5% | ||
| Q3 24 | 3.4% | -7.7% | ||
| Q2 24 | -2.4% | -6.6% | ||
| Q1 24 | -6.5% | -8.5% |
净利率CSGPZG
| Q4 25 | 5.2% | 0.5% | ||
| Q3 25 | -3.7% | 1.5% | ||
| Q2 25 | 0.8% | 0.3% | ||
| Q1 25 | -2.0% | 1.3% | ||
| Q4 24 | 8.4% | -9.4% | ||
| Q3 24 | 7.7% | -3.4% | ||
| Q2 24 | 2.8% | -3.0% | ||
| Q1 24 | 1.0% | -4.3% |
每股收益（稀释后）CSGPZG
| Q4 25 | $0.12 | $0.01 | ||
| Q3 25 | $-0.07 | $0.04 | ||
| Q2 25 | $0.01 | $0.01 | ||
| Q1 25 | $-0.04 | $0.03 | ||
| Q4 24 | $0.14 | $-0.23 | ||
| Q3 24 | $0.13 | $-0.08 | ||
| Q2 24 | $0.05 | $-0.07 | ||
| Q1 24 | $0.02 | $-0.10 |
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 | $768.0M |
| 总债务越低越好 | $140.0M | — |
| 股东权益账面价值 | $8.3B | $4.9B |
| 总资产 | $10.5B | $5.7B |
| 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CSGPZG
| Q4 25 | $1.6B | $768.0M | ||
| Q3 25 | $1.9B | $874.0M | ||
| Q2 25 | $3.6B | $587.0M | ||
| Q1 25 | $3.7B | $914.0M | ||
| Q4 24 | $4.7B | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.4B |
总债务CSGPZG
| 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CSGPZG
| Q4 25 | $8.3B | $4.9B | ||
| Q3 25 | $8.6B | $5.0B | ||
| Q2 25 | $8.6B | $4.7B | ||
| Q1 25 | $8.6B | $4.8B | ||
| Q4 24 | $7.6B | $4.8B | ||
| Q3 24 | $7.5B | $4.7B | ||
| Q2 24 | $7.4B | $4.5B | ||
| Q1 24 | $7.3B | $4.7B |
总资产CSGPZG
| Q4 25 | $10.5B | $5.7B | ||
| Q3 25 | $10.8B | $5.7B | ||
| Q2 25 | $10.5B | $5.4B | ||
| Q1 25 | $10.4B | $5.7B | ||
| Q4 24 | $9.3B | $5.8B | ||
| Q3 24 | $9.1B | $6.2B | ||
| Q2 24 | $9.1B | $6.6B | ||
| Q1 24 | $9.0B | $6.8B |
负债/权益比CSGPZG
| 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 | $72.0M |
| 自由现金流经营现金流 - 资本支出 | $101.3M | $44.0M |
| 自由现金流率自由现金流/营收 | 11.3% | 6.7% |
| 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× | 24.00× |
| 过去12个月自由现金流最近4个季度 | $123.0M | $235.0M |
8季度趋势，按日历期对齐
经营现金流CSGPZG
| Q4 25 | $162.1M | $72.0M | ||
| Q3 25 | $68.2M | $105.0M | ||
| Q2 25 | $146.5M | $87.0M | ||
| Q1 25 | $53.2M | $104.0M | ||
| Q4 24 | $94.6M | $122.0M | ||
| Q3 24 | $100.3M | $171.0M | ||
| Q2 24 | $58.1M | $55.0M | ||
| Q1 24 | $139.6M | $80.0M |
自由现金流CSGPZG
| Q4 25 | $101.3M | $44.0M | ||
| Q3 25 | $-5.5M | $73.0M | ||
| Q2 25 | $27.7M | $50.0M | ||
| Q1 25 | $-500.0K | $68.0M | ||
| Q4 24 | $25.2M | $88.0M | ||
| Q3 24 | $40.2M | $138.0M | ||
| Q2 24 | $-14.7M | $18.0M | ||
| Q1 24 | $-237.1M | $41.0M |
自由现金流率CSGPZG
| Q4 25 | 11.3% | 6.7% | ||
| Q3 25 | -0.7% | 10.8% | ||
| Q2 25 | 3.5% | 7.6% | ||
| Q1 25 | -0.1% | 11.4% | ||
| Q4 24 | 3.6% | 15.9% | ||
| Q3 24 | 5.8% | 23.8% | ||
| Q2 24 | -2.2% | 3.1% | ||
| Q1 24 | -36.1% | 7.8% |
资本支出强度CSGPZG
| Q4 25 | 6.8% | 4.3% | ||
| Q3 25 | 8.8% | 4.7% | ||
| Q2 25 | 15.2% | 5.6% | ||
| Q1 25 | 7.3% | 6.0% | ||
| Q4 24 | 9.8% | 6.1% | ||
| Q3 24 | 8.7% | 5.7% | ||
| Q2 24 | 10.7% | 6.5% | ||
| Q1 24 | 57.4% | 7.4% |
现金转化率CSGPZG
| Q4 25 | 3.49× | 24.00× | ||
| Q3 25 | — | 10.50× | ||
| Q2 25 | 23.63× | 43.50× | ||
| Q1 25 | — | 13.00× | ||
| Q4 24 | 1.58× | — | ||
| Q3 24 | 1.89× | — | ||
| Q2 24 | 3.03× | — | ||
| Q1 24 | 20.84× | — |
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% |
ZG
| Residential Revenue | $418.0M | 64% |
| Rental Revenue | $168.0M | 26% |
| Mortgage Revenue | $57.0M | 9% |
| Display Advertising And Other Revenue | $11.0M | 2% |
