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Friday 6 November 2026
Export CSGP’s income statement to Excel — free account
CoStar Group, Inc.
CSGP Real Estate Real Estate Services
CoStar Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.2 billion, up 18.7% from fiscal 2024.
- Revenue
- +14.2%
- EPS
- +357.1%
- Free cash flow
- +541.7%
- Total debt
- +0.11%
Quarter to September 2026, against a year earlier
31.84
0.74
−2.27%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 838 | 965 | 1,192 | 1,400 | 1,659 | 1,944 | 2,182 | 2,455 | 2,736 | 3,247 | 3,674 | +16.2% | 3,761 | 4,170 | 4,557 | +12.0% | |
| Gross margin, % | 79.25 | 77.17 | 77.35 | 79.34 | 81.38 | 81.63 | 81.03 | 80.00 | 79.61 | 78.87 | 78.31 | (0.4) pt | ||||||
| EBT | 137 | 165 | 284 | 391 | 271 | 404 | 487 | 502 | 210 | 30 | 231 | (15.5%) | ||||||
| EBT margin, % | 16.32 | 17.10 | 23.83 | 27.93 | 16.33 | 20.78 | 22.29 | 20.45 | 7.68 | 0.92 | 6.29 | (15.4) pt | ||||||
| Net income | 85 | 123 | 238 | 315 | 227 | 293 | 370 | 375 | 139 | 7 | 179 | (24.2%) | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 2.60 | 2.91 | 3.31 | 3.86 | 4.36 | 4.96 | 5.51 | 6.06 | 6.73 | 7.79 | 9.15 | +12.9% | |||||
| Earnings | 0.26 | 0.37 | 0.66 | 0.87 | 0.60 | 0.75 | 0.93 | 0.92 | 0.34 | 0.02 | 0.44 | (24.9%) | ||||||
| Cash flow | 0.62 | 0.71 | 0.93 | 1.26 | 1.28 | 1.20 | 1.21 | 1.21 | 0.97 | 1.03 | 1.54 | +5.7% | ||||||
| Capex | (0.06) | (0.07) | (0.08) | (0.13) | (0.13) | (0.48) | (0.16) | (0.35) | (1.57) | (0.93) | (0.65) | +36.1% | ||||||
| Free cash flow | 0.57 | 0.63 | 0.85 | 1.13 | 1.15 | 0.72 | 1.05 | 0.86 | (0.60) | 0.10 | 0.89 | (17.7%) | ||||||
| Book value | 5.14 | 7.99 | 8.38 | 9.38 | 14.12 | 14.56 | 17.34 | 18.11 | 18.59 | 20.08 | 19.90 | +16.3% | ||||||
| Shares, m | 322 | 332 | 361 | 363 | 381 | 392 | 396 | 405 | 406 | 417 | 409 | +2.9% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 70.53 | 81.09 | 50.95 | 69.01 | 153.79 | 105.37 | 83.49 | 91.89 | 204.54 | 4,702.10 | 72.81 | 561.3 | |||||
| P/S | 7.15 | 10.21 | 10.20 | 15.52 | 21.21 | 15.94 | 14.10 | 14.11 | 10.63 | 8.63 | 3.48 | 12.8 | ||||||
| P/B | 3.62 | 3.72 | 4.02 | 6.38 | 6.55 | 5.43 | 4.48 | 4.72 | 3.85 | 3.35 | 1.60 | 4.6 | ||||||
| EV/Sales | 6.88 | 9.27 | 9.54 | 14.87 | 19.56 | 14.50 | 12.29 | 12.40 | 9.30 | 8.41 | 3.62 | 11.7 | ||||||
| EV/FCF | 31.67 | 42.57 | 37.17 | 50.56 | 74.15 | 100.19 | 64.65 | 87.75 | (103.82) | 666.00 | 37.26 | 105.1 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 201 | 235 | 335 | 458 | 486 | 470 | 479 | 490 | 393 | 430 | 617 | +8.8% | |||||
| Capex | (19) | (24) | (30) | (46) | (48) | (188) | (64) | (143) | (638) | (389) | (260) | +40.1% | ||||||
| Free cash flow | 182 | 210 | 306 | 412 | 438 | 281 | 415 | 347 | (245) | 41 | 357 | (15.3%) | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 473 | 1,141 | 1,059 | 992 | 3,558 | 3,649 | 4,813 | 5,020 | 4,398 | 1,373 | 230 | +12.6% | |||||
| Net debt | (229) | (1,211) | (1,100) | (951) | (2,769) | (2,839) | (3,979) | (4,225) | (3,689) | (740) | 494 | +13.9% | ||||||
| Shareholders’ equity | 1,654 | 2,651 | 3,022 | 3,406 | 5,375 | 5,712 | 6,870 | 7,339 | 7,553 | 8,371 | 7,992 | +19.7% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 3.99 | 4.85 | 7.71 | 8.79 | 4.22 | 4.13 | 4.72 | 4.33 | 1.53 | 0.07 | 1.70 | (3.9) pt | |||||
| ROIC | 6.35 | 7.55 | 8.90 | 9.26 | 6.94 | 9.41 | 9.75 | 5.66 | 0.08 | (0.59) | 1.56 | (6.9) pt | ||||||
| ROE | 5.32 | 5.70 | 8.40 | 9.80 | 5.17 | 5.28 | 5.87 | 5.28 | 1.87 | 0.09 | 4.47 | (5.2) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 3,064 | 3,711 | 3,705 | 4,337 | 4,752 | 4,742 | 5,653 | 6,152 | 6,593 | 8,000 | — | +11.3% | |||||
| Revenue/emp, $m | 0.27 | 0.26 | 0.32 | 0.32 | 0.35 | 0.41 | 0.39 | 0.40 | 0.41 | 0.41 | — | +4.5% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2023
| Commercial Real Estate | 1,443 | 58.78% |
|---|---|---|
| Residential Real Estate | 1,012 | 41.22% |
| Gross margin | 80.00% | |
| Operating margin | 11.49% | |
| Pre-tax margin | 20.45% |
CoStar Group, Inc. vs peers in Real Estate Services (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| CBRE CBRE Group, Inc. | $39.3B | 29.0× | 22.6× | +12.68% (above 0%: growing) | +25.41% (above 0%: growing) | +12.27% (above 0%: growing) | 18.45% | 4.87% | Compare |
| BEKE KE Holdings Inc. Sponsored ADR | $19.8B | 29.0× | 19.4× | −0.39% (below 0%: shrinking) | +125.00% (above 0%: growing) | +760.48% (above 0%: growing) | 28.58% | 12.33% | Compare |
| JLL Jones Lang LaSalle Incorporated | $17.1B | 15.9× | 14.5× | +11.84% (above 0%: growing) | +47.98% (above 0%: growing) | −2.03% (below 0%: shrinking) | 54.81% | 5.37% | Compare |
| CSGP CoStar Group, Inc. | $12.9B | 72.8× | 52.1× | +14.15% (above 0%: growing) | n/m | +541.67% (above 0%: growing) | 77.84% | 8.82% | |
| COMP Compass, Inc. | $7.1B | 131× | 200× | +109.03% (above 0%: growing) | +71.43% (above 0%: growing) | +164.71% (above 0%: growing) | 100.00% | 2.88% | Compare |
| FSV FirstService Corporation | $6.4B | 46.9× | 43.6× | +5.81% (above 0%: growing) | −20.80% (below 0%: shrinking) | −39.90% (below 0%: shrinking) | 32.46% | 7.01% | Compare |
| CIGI Colliers International Group Inc. | $4.9B | 45.4× | 36.5× | +16.68% (above 0%: growing) | +600.00% (above 0%: growing) | +285.13% (above 0%: growing) | 40.39% | 6.26% | Compare |
| CWK Cushman & Wakefield PLC | $3.3B | 48.9× | 12.4× | +7.75% (above 0%: growing) | +0.91% (above 0%: growing) | −21.73% (below 0%: shrinking) | 17.32% | 4.63% | Compare |
| IHS IHS Holding Limited | $2.9B | 20.1× | 11.9× | +10.41% (above 0%: growing) | n/m | −41.30% (below 0%: shrinking) | 48.32% | 19.32% | Compare |
| Median of peers | $6.8B | 37.2× | 21.0× | +11.13% | +47.98% | +5.12% | 36.42% | 5.82% |
From the latest earnings call
- CEO Andy Florance attributed bookings below expectations to economic headwinds and slower sales-force growth, and said CoStar is shifting recruiting toward experienced field representatives.
- CFO Robin Rossmann said CoStar identified approximately $200 million in additional efficiency opportunities and expects to use savings for both margins and revenue investment.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
102.08%
Held by the ten largest
53.73%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 68.81m | 16.98% | −1.13m |
| BlackRock | 33.81m | 8.35% | +5.79k |
| BAMCO INC /NY/ | 21.63m | 5.34% | +5.31m |
| Capital Group | 20.87m | 5.15% | +967.01k |
| State Street | 18.41m | 4.54% | −240.10k |
| Baillie Gifford | 13.15m | 3.25% | −456.76k |
| Geode Capital Management | 12.17m | 3.00% | −282.18k |
| AKRE CAPITAL MANAGEMENT LLC | 11.70m | 2.89% | +1.35m |
| POLEN CAPITAL MANAGEMENT LLC | 8.76m | 2.16% | −3.81m |
| AQR Capital Management | 8.41m | 2.07% | +7.16m |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 30 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 36.43m | 33.17m | 112.39 |
| 2024 | 37.39m | 8.22m | 119.66 |
| 2023 | 29.18m | 28.62m | 146.06 |
| 2022 | 19.42m | 16.18m | 129.17 |
| 2021 | 22.16m | 11.43m | 132.09 |
Ownership
Directors and executive officers, together
1.18%
Vanguard Portfolio Management
9.38%
BlackRock, Inc.
7.79%
Vanguard Capital Management
7.74%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
CoStar Group, Inc. (CSGP) Latest News
30 Oct
29 Oct
28 Oct
27 Oct
23 Oct
CSGP metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
CoStar Group provides online real estate marketplaces, property information, analytics and 3D digital twin technology. It serves people and businesses involved in commercial and residential property: professionals use data and software to research assets, leases, tenants, sales and markets, while consumers search for homes, rentals, land and businesses for sale. [item1]
The Commercial Real Estate segment centers on the CoStar subscription platform, which covers property inventory, available space, sales comparables, tenants, owners, market conditions and forecasts. It also includes LoopNet advertising for commercial property listings; STR hotel benchmarking; Debt Solutions for lenders; lease-management software; Matterport 3D digital twins; BizBuySell; and Ten-X commercial-property auctions. [item1]