CoStar Group vs Newmark Group
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The short version
- Newmark Group is the larger business, with $3.3B of revenue in fiscal 2025 against $3.2B for CoStar Group.
- Newmark Group grew revenue faster (20.3%, against 18.7%).
- Newmark Group kept more of each dollar of sales as operating profit (7.1% operating margin, against −2.2%).
- Newmark Group turned more of its sales into free cash flow (4.3% FCF margin, against 3.8%).
- Newmark Group earned a higher return on the capital invested in it (8.6%, against −0.6%).
- Investors pay more for each dollar of CoStar Group’s earnings: a P/E of 188.4x against 14.4x for Newmark Group.
| Latest fiscal year | CSGP · FY25 | NMRK · FY25 |
|---|---|---|
| Size | ||
| Market cap | $13.7B | $2.9B |
| Revenue | $3.2B | $3.3B |
| Free cash flow | $123M | $143M |
| Net income | $7.0M | $126M |
| Growth | ||
| Revenue growth | 18.7% | 20.3% |
| 5-year growth | 14.4% | 11.6% |
| Share count change | 3.2% | 42.6% |
| Profitability | ||
| Gross margin | 78.9% | — |
| Operating margin | −2.2% | 7.1% |
| Net margin | 0.2% | 3.8% |
| FCF margin | 3.8% | 4.3% |
| Return on capital | −0.6% | 8.6% |
| Return on equity | 0.1% | 9.5% |
| Balance sheet | ||
| Net debt | −$629M | $443M |
| Net debt / EBITDA | −3.3x | 1.1x |
| Dividends and buybacks | $500M | $127M |
| Valuation & quality | ||
| P/E | 188.4x | 14.4x |
| Piotroski F-score | 5 | 7 |
Revenue
FY16
CSGP $838M
NMRK $1.4B
FY17
CSGP $965M
NMRK $1.6B
FY18
CSGP $1.2B
NMRK $2.0B
FY19
CSGP $1.4B
NMRK $2.2B
FY20
CSGP $1.7B
NMRK $1.9B
FY21
CSGP $1.9B
NMRK $2.9B
FY22
CSGP $2.2B
NMRK $2.7B
FY23
CSGP $2.5B
NMRK $2.5B
FY24
CSGP $2.7B
NMRK $2.7B
FY25
CSGP $3.2B
NMRK $3.3B
CSGP
NMRK
Operating margin
FY16
CSGP 17.3%
NMRK 12.4%
FY17
CSGP 18.0%
NMRK 12.5%
FY18
CSGP 23.0%
NMRK 16.2%
FY19
CSGP 26.0%
NMRK 11.1%
FY20
CSGP 17.4%
NMRK 9.7%
FY21
CSGP 22.2%
NMRK 43.2%
FY22
CSGP 20.7%
NMRK 6.9%
FY23
CSGP 11.5%
NMRK 5.1%
FY24
CSGP 0.2%
NMRK 6.0%
FY25
CSGP −2.2%
NMRK 7.1%
CSGP
NMRK
Free cash flow
FY16
CSGP $182M
NMRK −$671M
FY17
CSGP $210M
NMRK $835M
FY18
CSGP $306M
NMRK −$353M
FY19
CSGP $412M
NMRK $952M
FY20
CSGP $438M
NMRK −$797M
FY21
CSGP $346M
NMRK −$68.4M
FY22
CSGP $444M
NMRK $1.1B
FY23
CSGP $372M
NMRK −$321M
FY24
CSGP −$186M
NMRK −$41.5M
FY25
CSGP $123M
NMRK $143M
CSGP
NMRK
Return on capital
FY16
CSGP 6.2%
NMRK —
FY17
CSGP 9.0%
NMRK —
FY18
CSGP 13.7%
NMRK 21.2%
FY19
CSGP 13.8%
NMRK 13.5%
FY20
CSGP 9.7%
NMRK 10.2%
FY21
CSGP 11.3%
NMRK 70.0%
FY22
CSGP 11.9%
NMRK 8.1%
FY23
CSGP 7.0%
NMRK 4.0%
FY24
CSGP 0.1%
NMRK 5.4%
FY25
CSGP −0.6%
NMRK 8.6%
CSGP
NMRK
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.