Business Description
CoStar Group, Inc. is a leading global provider of commercial and residential real estate information, analytics, and online marketplaces. Headquartered in Arlington, Virginia, the company operates a portfolio of prominent brands including CoStar, Apartments.com, LoopNet, Homes.com, and STR. CoStar is distinctive for its massive proprietary database of real estate data and its dominant position in digitizing property discovery and research for brokers, investors, and consumers.
Financial Statements
In thousands, USD
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Total Revenues | 3,247,000 | 2,736,000 | 2,455,000 | 2,182,400 |
| Cost of Sales | 686,000 | 558,000 | 491,000 | 414,000 |
| Gross Profit | 2,561,000 | 2,178,000 | 1,964,000 | 1,768,400 |
| Selling, General & Administrative Expenses | 2,515,000 | 2,129,000 | 1,640,000 | 1,243,800 |
| Depreciation & Amortization Expenses | 118,000 | 44,000 | 42,000 | 73,600 |
| Operating Profit | (72,000) | 5,000 | 282,000 | 451,000 |
| Interest and Investment Income | 110,000 | 213,000 | 214,000 | 32,100 |
| Non-Operating Income | (8,000) | (8,000) | 6,000 | 3,400 |
| Total Non-Operating Income | 102,000 | 205,000 | 220,000 | 35,500 |
| Income Before Provision for Income Taxes | 30,000 | 210,000 | 502,000 | 486,500 |
| Provision for Income Taxes | 23,000 | 71,000 | 127,000 | 117,000 |
| Consolidated Net Income | 7,000 | 139,000 | 375,000 | 369,500 |
| Net Income Attributable to Common Shareholders | 7,000 | 139,000 | 375,000 | 369,500 |
| Basic EPS | 0.02 | 0.34 | 0.92 | 0.93 |
| Diluted EPS | 0.02 | 0.34 | 0.92 | 0.93 |
| Basic Weighted Average Shares Outstanding | 416,800 | 406,300 | 405,300 | 396,300 |
| Diluted Weighted Average Shares Outstanding | 420,700 | 407,800 | 406,900 | 397,800 |
| Shares Outstanding | 417,900 | 409,500 | 408,100 | 406,671 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Cash and Cash Equivalents | 1,633,000 | 4,681,000 | 5,215,900 | 4,968,000 |
| Total Cash and Cash Equivalents | 1,633,000 | 4,681,000 | 5,215,900 | 4,968,000 |
| Accounts Receivable | 234,000 | 188,000 | 190,000 | 153,900 |
| Other Receivables | 18,000 | — | — | — |
| Total Trade Receivables | 252,000 | 188,000 | 190,000 | 153,900 |
| Other Current Assets | 234,000 | 81,000 | 70,200 | 64,000 |
| Total Current Assets | 2,119,000 | 4,950,000 | 5,476,100 | 5,185,900 |
| Net Property, Plant & Equipment | 1,446,000 | 1,118,000 | 552,000 | 401,700 |
| Net Intangible Assets | 1,771,000 | 433,000 | 313,700 | 329,300 |
| Goodwill | 4,944,000 | 2,528,000 | 2,386,200 | 2,314,800 |
| Other Long-Term Assets | 258,000 | 228,000 | 191,700 | 170,800 |
| Total Assets | 10,538,000 | 9,257,000 | 8,919,700 | 8,402,500 |
| Accounts Payable | 42,000 | 44,000 | 186,100 | 28,600 |
| Accrued Expenses | 348,000 | 297,000 | 117,800 | 194,100 |
| Current Portion of Leases | 28,000 | 32,000 | 40,000 | 36,000 |
| Unearned Revenue | 205,000 | 137,000 | 104,200 | 103,600 |
| Other Current Liabilities | 123,000 | 42,000 | 7,700 | 10,400 |
| Total Current Liabilities | 746,000 | 552,000 | 455,800 | 372,700 |
| Long-Term Debt | 993,000 | 992,000 | 990,500 | 989,200 |
| Other Long-Term Liabilities | 428,000 | 160,000 | 134,800 | 170,600 |
| Total Long-Term Liabilities | 1,421,000 | 1,152,000 | 1,125,300 | 1,159,800 |
| Total Liabilities | 2,167,000 | 1,704,000 | 1,581,100 | 1,532,500 |
| Common Stock | 4,000 | 4,000 | 4,100 | 4,100 |
| Treasury Stock | (510,000) | — | — | — |
| Additional Paid-in Capital | 6,410,000 | 5,232,000 | 5,147,800 | 5,065,400 |
| Accumulated Other Comprehensive Income | 80,000 | (26,000) | (17,600) | (29,100) |
| Retained Earnings | 2,350,000 | 2,343,000 | 2,204,300 | 1,829,600 |
| Total Common Shareholders' Equity | 8,334,000 | 7,553,000 | 7,338,600 | 6,870,000 |
| Minority Interests and Other | 37,000 | — | — | — |
| Total Shareholders' Equity | 8,371,000 | 7,553,000 | 7,338,600 | 6,870,000 |
| Total Liabilities and Shareholders' Equity | 10,538,000 | 9,257,000 | 8,919,700 | 8,402,500 |
| FY 2025 | FY 2024 | FY 2023 | FY 2022 | |
|---|---|---|---|---|
| Net Income | 7,000 | 139,000 | 375,000 | 369,500 |
| Depreciation & Amortization | 263,000 | 147,000 | 108,000 | 137,900 |
| Share-Based Compensation Expense | 194,000 | 89,000 | 85,000 | 75,200 |
| Other Adjustments | 234,000 | 137,000 | 121,000 | 101,700 |
| Changes in Trade Receivables | (28,000) | (30,000) | (67,000) | (46,400) |
| Changes in Accounts Payable | (12,000) | 44,000 | 34,000 | 23,200 |
| Changes in Income Taxes Payable | (45,000) | 22,000 | 11,000 | (19,300) |
| Changes in Unearned Revenue | 21,000 | 11,000 | (1,000) | 6,800 |
| Changes in Other Operating Activities | (204,000) | (166,000) | (176,000) | (169,900) |
| Cash from Operating Activities | 430,000 | 393,000 | 490,000 | 478,700 |
| Capital Expenditure | (389,000) | (638,000) | (143,000) | (93,800) |
| Proceeds from Sale of Property, Plant & Equipment | — | — | — | 30,100 |
| Purchases of Investments | (285,000) | — | — | — |
| Proceeds from Sale of Investments | 205,000 | 2,000 | 4,000 | 900 |
| Payments for Business Acquisitions | (2,347,000) | (277,000) | (100,000) | (6,300) |
| Cash from Investing Activities | (2,816,000) | (913,000) | (239,000) | (69,100) |
| Repayments of Long-Term Debt | — | — | — | (2,200) |
| Net Issuance / (Repayments) of Long-Term Debt | — | — | — | (2,200) |
| Issuance of Common Shares | 24,000 | 25,000 | 23,000 | 759,200 |
| Repurchases of Common Shares | (575,000) | (30,000) | (26,000) | (23,000) |
| Net Issuance / (Repurchases) of Common Shares | (551,000) | (5,000) | (3,000) | 736,200 |
| Other Financing Activities | (8,000) | (9,000) | (1,000) | — |
| Cash from Financing Activities | (559,000) | (14,000) | (4,000) | 734,000 |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | (3,000) | (1,000) | 1,000 | (2,700) |
| Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash | (2,948,000) | (535,000) | 248,000 | 1,140,900 |
Key Metrics & Ratios
| Metric | Value |
|---|---|
| Market Cap | $28.10B |
| P/E | 3362.00x |
| P/S | 8.65x |
| EV/EBITDA | 144.11x |
| Return on Equity | 0.1% |
| Return on Invested Capital | -0.3% |
| Current Ratio | 2.84x |
| Free Cash Flow Margin | 1.3% |
Margins
Gross margin
78.9%
Operating margin
-2.2%
Net margin
0.2%
Quarterly Trend
| Quarter | Revenue | YoY growth | Operating margin | Operating income |
|---|---|---|---|---|
| Q1 2026 | $897M | +22.5% | 0.3% | $3M |
| Q4 2025 | $900M | +26.9% | 5.5% | $49M |
| Q3 2025 | $834M | +20.4% | -6.1% | $-51M |
| Q2 2025 | $781M | +15.3% | -3.5% | $-27M |
| Q1 2025 | $732M | — | -5.9% | $-43M |
| Q4 2024 | $709M | — | 5.6% | $40M |
| Q3 2024 | $693M | — | 3.4% | $24M |
| Q2 2024 | $678M | — | -2.4% | $-16M |
More on CoStar Group, Inc.
Figures compiled from public company filings.
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