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CoStar Group

CSGP Nasdaq Real Estate Services Financials FY2016–FY2025

CoStar Group's revenue rose 18.7% to $3.2 billion in fiscal 2025. Its operating margin was −2.2%, down from 0.2% a year earlier. Free cash flow was $123 million. It paid out $500 million in dividends and buybacks, 406% of free cash flow. The diluted share count rose 3.2%.

Last close · Oct 23, 2026

$33.92

4.3%
Value it Compare
Revenue Total sales reported in the income statement.
$3.2B
18.7% vs prior year
Operating margin Operating income as a share of revenue.
−2.2%
2.4 pts
Net income Profit after all expenses, interest and tax.
$7.0M
95.0%
Free cash flow Cash from operations minus capital spending.
$123M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−0.6%
0.7 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$13.7B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
188.4x
On $0.18 EPS (TTM)

About these figures. CoStar's 2025 filing tags US$140 million as its long-term debt while its balance sheet shows US$993 million of senior notes, so debt is taken from the balance-sheet lines. Capital spending to 2020 is CoStar's purchases of property and other assets; its 2021 filing shows 2019 and 2020 as zero under another label. Share counts and per-share figures for earlier years are restated for a stock split (10-for-1), so every year is on today's share basis.

What CoStar Group does

No business description yet.

Legal name
COSTAR GROUP, INC.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001057352-26-000020
0001057352

Revenue and margins

CoStar Group had $3.2B of revenue in fiscal 2025, up 18.7% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew −24.8% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $123M in fiscal 2025, 3.8% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

CoStar Group returned $500M to shareholders in fiscal 2025, 407% of free cash flow. The diluted share count rose 3.2%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value CoStar Group yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $629M and divides by 420.7M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 188.4x · peers 84.6x · sector 27.8x.

Balance sheet

Cash, debt and the ratios that show how comfortably CoStar Group can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $3.8B$5.0B$5.2B$4.7B$1.6B
Debt incl. finance leases $988M$989M$1.0B$1.0B$1.0B
Net debt / EBITDA −4.9x−6.8x−10.8x−24.2x−3.3x
Debt / equity 0.2x0.1x0.1x0.1x0.1x
Interest coverage 13.4x14.0x9.1x0.2x−3.8x
Current ratio 11.8x13.9x12.0x9.0x2.8x
Quick ratio 11.8x13.9x12.0x9.0x2.8x
Total assets $7.3B$8.4B$8.9B$9.3B$10.5B
Total liabilities $1.5B$1.5B$1.6B$1.7B$2.2B
Shareholders' equity $5.7B$6.9B$7.3B$7.6B$8.3B
Net debt (− = net cash) −$2.8B−$4.0B−$4.2B−$3.7B−$629M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$8.5M

4 insiders

Sold, 12 months

$0.5M

2 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 7, 2026 Cynthia Cammett CannChief Accounting Officer Sold 4,788 $30.78 $0.1M Form 4
Aug 5, 2026 John W HillDirector Sold 3,500 $30.21 $0.1M Form 4
Aug 4, 2026 Andrew C FloranceFounder and CEO, Director Bought 83,300 $29.89 $2.5M Form 4
May 1, 2026 Andrew C FlorancePresident and CEO, Director Bought 71,430 $35.20 $2.5M Form 4
Mar 6, 2026 Louise S SamsDirector Bought 1,000 $48.36 $0.0M Form 4
Mar 2, 2026 Frederick G. SaintPresident, Marketplaces Bought 20,000 $45.33 $0.9M Form 4
Mar 2, 2026 Rachel C GlaserDirector Bought 1,000 $44.94 $0.0M Form 4
Feb 27, 2026 Andrew C FlorancePresident and CEO, Director Bought 55,720 $44.52 $2.5M Form 4
Nov 13, 2025 Cynthia Cammett CannChief Accounting Officer Sold 1,841 $68.79 $0.1M Form 4
Nov 13, 2025 John W HillDirector Sold 2,250 $68.68 $0.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✓
Current ratio rose ✕ ✕ ✕
Share count didn't rise ✕ ✕ ✕
Gross margin rose ✕ ✕ ✕
Revenue rose relative to assets ✕ ✓ ✓
F-score 4 / 95 / 95 / 9
Accruals ratio −1.3%−2.8%−4.3%
Altman Z'' 9.588.605.59

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
CoStar Group CSGP $13.7B 18.7% −2.2% 3.8% −0.6% 188.4x 5
Newmark Group NMRK $2.9B 20.3% 7.1% 4.3% 8.6% 14.4x 7 Compare →
Zillow ZG $7.8B 15.5% −1.3% 9.1% −0.9% 154.8x 7 Compare →
Compass COMP $8.2B 23.7% −0.9% 2.9% — 162.5x — Compare →
Howard Hughes HHH $4.2B −15.8% 22.5% 28.3% 3.4% 14.3x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $838M $965M $1.2B $1.4B $1.7B $1.9B $2.2B $2.5B $2.7B $3.2B
Gross profit $664M $745M $922M $1.1B $1.4B $1.6B $1.8B $2.0B $2.2B $2.6B
Operating income $145M $174M $274M $364M $289M $432M $451M $282M $5.0M −$72.0M
Interest expense $10.0M $9.0M $2.8M $2.6M $21.8M $32.3M $32.3M $31.0M $27.0M $19.0M
Pretax income $137M $165M $284M $391M $271M $404M $487M $502M $210M $30.0M
Income tax $51.6M $42.4M $45.7M $76.0M $43.9M $111M $117M $127M $71.0M $23.0M
Net income $85.1M $123M $238M $315M $227M $293M $370M $375M $139M $7.0M
Diluted EPS $0.26 $0.37 $0.65 $0.86 $0.59 $0.74 $0.93 $0.92 $0.34 $0.02
Diluted shares 0.32B 0.34B 0.36B 0.37B 0.38B 0.39B 0.40B 0.41B 0.41B 0.42B
Cash flow
Cash from operations $201M $235M $336M $458M $486M $470M $479M $490M $393M $430M
Capital expenditure $18.8M $24.5M $29.6M $46.2M $48.3M $124M $35.2M $118M $579M $307M
Free cash flow $182M $210M $306M $412M $438M $346M $444M $372M −$186M $123M
Depreciation and amortization $70.2M $63.6M $77.7M $81.2M $117M $140M $138M $108M $147M $263M
Stock-based compensation $36.3M $39.0M $41.2M $52.3M $53.4M $63.7M $75.2M $85.0M $89.0M $194M
Acquisitions $10.4M $47.8M $418M $438M $426M $193M $6.3M $100M $277M $2.3B
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $500M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $500M
Balance sheet
Cash and short-term investments $567M $1.2B $1.1B $1.1B $3.7B $3.8B $5.0B $5.2B $4.7B $1.6B
Total debt $338M $0.0M $0.0M $0.0M $987M $988M $989M $991M $992M $993M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $13.0M $15.0M $11.0M
Current assets $628M $1.3B $1.2B $1.2B $3.9B $4.0B $5.2B $5.5B $5.0B $2.1B
Current liabilities $155M $147M $154M $207M $331M $339M $373M $456M $552M $746M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $6.0M
Property and equipment, net $87.6M $84.5M $83.3M $108M $126M $271M $321M $472M $1.0B $1.3B
Total assets $2.2B $2.9B $3.3B $3.9B $6.9B $7.3B $8.4B $8.9B $9.3B $10.5B
Total liabilities $531M $222M $291M $448M $1.5B $1.5B $1.5B $1.6B $1.7B $2.2B
Shareholders' equity $1.7B $2.7B $3.0B $3.4B $5.4B $5.7B $6.9B $7.3B $7.6B $8.3B
Margins
Gross margin 79.3% 77.2% 77.4% 79.3% 81.4% 81.6% 81.0% 80.0% 79.6% 78.9%
Operating margin 17.3% 18.0% 23.0% 26.0% 17.4% 22.2% 20.7% 11.5% 0.2% −2.2%
EBITDA margin 25.7% 24.6% 29.5% 31.8% 24.5% 29.4% 27.0% 15.9% 5.6% 5.9%
Net margin 10.2% 12.7% 20.0% 22.5% 13.7% 15.1% 16.9% 15.3% 5.1% 0.2%
FCF margin 21.7% 21.8% 25.7% 29.4% 26.4% 17.8% 20.3% 15.2% −6.8% 3.8%
Returns
Return on capital 6.2% 9.0% 13.7% 13.8% 9.7% 11.3% 11.9% 7.0% 0.1% −0.6%
Return on capital employed 7.3% 7.3% 9.3% 10.7% 5.7% 6.4% 6.0% 3.4% 0.1% −0.8%
Return on equity 5.3% 5.7% 8.4% 9.8% 5.2% 5.3% 5.9% 5.3% 1.9% 0.1%
Return on assets 4.0% 4.9% 7.7% 8.8% 4.2% 4.1% 4.7% 4.3% 1.5% 0.1%
Growth
Revenue growth 17.7% 15.2% 23.5% 17.4% 18.5% 17.2% 12.3% 12.5% 11.5% 18.7%
Net income growth — 44.2% 94.3% 32.2% −27.9% 28.8% 26.3% 1.5% −62.9% −95.0%
EPS growth — 39.7% 78.7% 31.5% −31.4% 25.4% 25.7% −1.1% −63.0% −94.1%
FCF growth 73.7% 15.6% 45.5% 34.6% 6.4% −21.0% 28.2% −16.1% −150.0% —
Share count change 1.5% 3.5% 8.6% 0.5% 4.6% 2.9% 0.9% 2.3% 0.2% 3.2%
Financial health
Net debt / EBITDA −1.1x −5.1x −3.1x −2.4x −6.7x −4.9x −6.8x −10.8x −24.2x −3.3x
Debt / equity 0.2x 0.0x 0.0x 0.0x 0.2x 0.2x 0.1x 0.1x 0.1x 0.1x
Interest coverage 14.5x 19.3x 96.7x 139.0x 13.3x 13.4x 14.0x 9.1x 0.2x −3.8x
Current ratio 4.1x 8.8x 7.9x 5.8x 11.8x 11.8x 13.9x 12.0x 9.0x 2.8x
Quick ratio 4.1x 8.8x 7.9x 5.8x 11.8x 11.8x 13.9x 12.0x 9.0x 2.8x
Capital allocation
Capex / revenue 2.2% 2.5% 2.5% 3.3% 2.9% 6.4% 1.6% 4.8% 21.2% 9.5%
Stock comp / revenue 4.3% 4.0% 3.5% 3.7% 3.2% 3.3% 3.5% 3.5% 3.3% 6.0%
Payouts / FCF 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% — 406.5%
Quality scores
Piotroski F-score 8.0 7.0 5.0 6.0 6.0 6.0 7.0 4.0 5.0 5.0
Altman Z'' 5.4 15.9 14.2 11.1 7.9 8.2 9.5 9.6 8.6 5.6
Accruals ratio −5.4% −4.4% −3.1% −4.0% −4.8% −2.5% −1.4% −1.3% −2.8% −4.3%

Source: SEC EDGAR XBRL filings (CIK 0001057352). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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