NASDAQ: CSGP
CoStar Group
Real Estate · Services-Business Services, NEC
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$11.0B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $6.14B |
| FY2017, ended Dec 31, 2017 | $10.7B |
| FY2018, ended Dec 31, 2018 | $12.3B |
| FY2019, ended Dec 31, 2019 | $21.9B |
| FY2020, ended Dec 31, 2020 | $36.4B |
| FY2021, ended Dec 31, 2021 | $31.2B |
| FY2022, ended Dec 31, 2022 | $31.4B |
| FY2023, ended Dec 31, 2023 | $35.7B |
| FY2024, ended Dec 31, 2024 | $29.4B |
| FY2025, ended Dec 31, 2025 | $28.2B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $11.0B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$3.67B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $838M |
| FY2017, ended Dec 31, 2017 | $965M |
| FY2018, ended Dec 31, 2018 | $1.19B |
| FY2019, ended Dec 31, 2019 | $1.40B |
| FY2020, ended Dec 31, 2020 | $1.66B |
| FY2021, ended Dec 31, 2021 | $1.94B |
| FY2022, ended Dec 31, 2022 | $2.18B |
| FY2023, ended Dec 31, 2023 | $2.46B |
| FY2024, ended Dec 31, 2024 | $2.74B |
| FY2025, ended Dec 31, 2025 | $3.25B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $3.67B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $85.1M | $182M |
| FY2017, ended Dec 31, 2017 | $123M | $210M |
| FY2018, ended Dec 31, 2018 | $238M | $306M |
| FY2019, ended Dec 31, 2019 | $315M | $458M |
| FY2020, ended Dec 31, 2020 | $227M | $486M |
| FY2021, ended Dec 31, 2021 | $293M | $346M |
| FY2022, ended Dec 31, 2022 | $370M | $444M |
| FY2023, ended Dec 31, 2023 | $375M | $372M |
| FY2024, ended Dec 31, 2024 | $139M | −$186M |
| FY2025, ended Dec 31, 2025 | $7.00M | $123M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $179M | $422M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$500M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $567M |
| FY2017, ended Dec 31, 2017 | $1.21B |
| FY2018, ended Dec 31, 2018 | $1.10B |
| FY2019, ended Dec 31, 2019 | $1.07B |
| FY2020, ended Dec 31, 2020 | $3.69B |
| FY2021, ended Dec 31, 2021 | $3.80B |
| FY2022, ended Dec 31, 2022 | $5.00B |
| FY2023, ended Dec 31, 2023 | $5.20B |
| FY2024, ended Dec 31, 2024 | $4.68B |
| FY2025, ended Dec 31, 2025 | $1.63B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $500M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$1.00B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $338M |
| FY2017, ended Dec 31, 2017 | $0 |
| FY2018, ended Dec 31, 2018 | $0 |
| FY2019, ended Dec 31, 2019 | $0 |
| FY2020, ended Dec 31, 2020 | $1.00B |
| FY2021, ended Dec 31, 2021 | $1.00B |
| FY2022, ended Dec 31, 2022 | $1.00B |
| FY2023, ended Dec 31, 2023 | $1.00B |
| FY2024, ended Dec 31, 2024 | $1.00B |
| FY2025, ended Dec 31, 2025 | $140M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $1.00B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 23.4% since 2016.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.402M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 326M |
| FY2017, ended Dec 31, 2017 | 361M |
| FY2018, ended Dec 31, 2018 | 365M |
| FY2019, ended Dec 31, 2019 | 366M |
| FY2020, ended Dec 31, 2020 | 394M |
| FY2021, ended Dec 31, 2021 | 395M |
| FY2022, ended Dec 31, 2022 | 407M |
| FY2023, ended Dec 31, 2023 | 408M |
| FY2024, ended Dec 31, 2024 | 410M |
| FY2025, ended Dec 31, 2025 | 420M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | 402M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Net: $900M more bought back than issued
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| Period | Bought back | Paid to employees | Sold for cash | Used in acquisitions |
|---|---|---|---|---|
| FY2016, ended Dec 31, 2016 | — | $36.3M | $0 | — |
| FY2017, ended Dec 31, 2017 | — | $39.0M | $834M | — |
| FY2018, ended Dec 31, 2018 | — | $41.2M | $0 | $36.4M |
| FY2019, ended Dec 31, 2019 | — | $52.3M | $0 | — |
| FY2020, ended Dec 31, 2020 | — | $53.5M | $1.69B | — |
| FY2021, ended Dec 31, 2021 | — | $63.7M | $0 | — |
| FY2022, ended Dec 31, 2022 | — | $75.2M | $746M | — |
| FY2023, ended Dec 31, 2023 | $0 | $85.0M | $0 | — |
| FY2024, ended Dec 31, 2024 | $0 | $89.0M | $0 | — |
| FY2025, ended Dec 31, 2025 | $500M | $194M | — | — |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $1.05B | $153M | — | — |
Revenue (TTM)
$3.67B
+20.2% YoY
Net income (TTM)
$179M
+791% YoY
Cash
$500M
−74.2% YoY
Total debt
$1.00B
0.0% YoY
Valuation
At current price- Market Cap
- $12.1B
- P/E
- 67.8×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 3.3×
- Price / Book
- 1.5×
- EV / EBITDA
- 22.6×
Growth
Trailing 12 months- Revenue (TTM)
- $3.67B
- Revenue Growth YoY
- 20.2%
- Revenue CAGR 3Y
- 14.2%
- Revenue CAGR 5Y
- 14.4%
- EPS Growth YoY
- 617%
- Net Income Growth YoY
- 791%
Profitability
Trailing 12 months- Gross Margin
- 78.3%
- Operating Margin
- 5.8%
- Net Margin
- 4.9%
- FCF Margin
- 11.5%
- Return on Equity
- 2.2%
Earnings
Trailing 12 months- Net Income
- $179M
- EPS (diluted)
- $0.43
- EBITDA
- $558M
- Operating Income
- $212M
Balance Sheet
As of Sep 30, 2026- Cash and cash equivalents
- $500M
- Total Debt
- $1.00B
- Net Debt
- $500M
- Total Assets
- $10.3B
- Total Liabilities
- $2.27B
- Shareholders' Equity
- $7.97B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $617M
- Capital Expenditure
- $195M
- Free Cash Flow
- $422M
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- 0.80
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 20.2% year over year, at $3.67B.
Strength
Operating margin widened 8.4 pts in a year, to 5.8%.
Note
Net debt of $500M is 0.9× EBITDA, a manageable load.
Note
Free cash flow of $422M, 11.5% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Sep 30, 2026 · filed Oct 28, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K46Some concerns
10-K for the fiscal year ended Dec 31, 2025
Filed Feb 26, 2026 · Read the filing on EDGAR
- Revenue rose 19% to $3.25 billion, helped by the Matterport and Domain purchases, but net income fell 95% to $7 million.
- CoStar swung to a $72 million operating loss as costs rose 21%, while interest income halved because cash was spent.
- Cash fell from $4.7 billion to $1.7 billion after two acquisitions and $500 million of buybacks; a new $1.5 billion buyback was approved.
- Homes.com and other residential losses narrowed to $230 million, and management plans AI features across its main products in 2026.
Business momentum
Sharp deterioration
“Net income $ 7 $ 139 $ (132) (95) %”
Outlook
Positive
“We expect Residential Real Estate's revenue growth rate for the year ending December 31, 2026 to accelerate compared to the revenue growth rate for the year ended December 31, 2025”
Financial stress
Low
“We believe the balance of cash, cash equivalents, and restricted cash, which was $1.7 billion as of December 31, 2025, along with cash generated by ongoing operations and continued access to capital markets, will be sufficient to satisfy our cash requirements”
Tone against the previous report
About the same
Red flags
None found in this report.
Positives
Revenue grew 19% across both segments
“Revenue increased $511 million, or 19%, to $3.2 billion, driven by the following:”
Residential losses narrowed as revenue rose and marketing spending fell
“Residential Real Estate Adjusted EBITDA improved by $131 million to a loss of $230 million for the year ended December 31, 2025.”
New subscription sales picked up from 2024
“our annualized net new bookings of subscription-based services on all contracts were approximately $308 million, $250 million, and $286 million, respectively”
Concerns
The core business made an operating loss as costs outgrew revenue
“Income (loss) from operations (72) 5 (77) NM(2)”
Cash fell by about $3 billion, with $700 million more buybacks planned for 2026
“Cash, cash equivalents, and restricted cash decreased to $1.7 billion as of December 31, 2025, compared to cash and cash equivalents of $4.7 billion as of December 31, 2024.”
Lower cash cut interest income, which had been supporting profit
“Interest income, net decreased $103 million, or 48%, to $110 million.”
New risks since the previous report
AI platforms could send users around CoStar's marketplaces
“such as AI-powered platforms that provide access to real estate agents, real estate data, and related content without directing users to our marketplaces”
Search engines could enter real estate listings directly
“if internet search engines expand their services into digital real estate marketplaces, they could leverage their scale, user base, and technology to compete with our websites”
EU AI rules bring compliance costs and potentially large fines
“fines for breach of up to 7% of worldwide annual turnover”
Matterport camera production relies on few suppliers, some in China
“Matterport relies on a limited number of suppliers to supply its hardware components for its cameras and other hardware products, including in some cases only a single supplier for some products and components.”
Staff losses and higher costs after the Domain and Matterport deals
“Following the acquisition of both companies, we have lost and can continue to lose key employees”
Biggest risks named
- Heavy Homes.com investment failing to pay off
- Matterport and Domain integration falling short
- AI tools and search engines diverting traffic from marketplaces
- Real estate downturn reducing demand and raising cancellations
- Antitrust lawsuits and scrutiny affecting CoStar and its customers
Artificial intelligence in this business: Material to the business
How the score adds up
| Starting point | 60 | |
| Business momentum | −15 | |
| Outlook | +3 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −2 | |
| Score | 46 | |
Written by AI (Claude Opus 5.5) from the report’s text. 14 of 14 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 28, 2026 | Pro | |||
| 10-K | Feb 26, 2026 | 46 | Sharp deterioration | None | |
| 10-K | Feb 20, 2025 | 36 | Sharp deterioration | 1 medium | |
| 10-K | Feb 22, 2024 | 39 | Sharp deterioration | None | |
| 10-K | Feb 22, 2023 | 69 | Strong improvement | None | |
| 10-K | Feb 23, 2022 | 70 | Strong improvement | None | |
| 10-K | Feb 24, 2021 | 49 | Mixed | 1 medium | |
| 10-K | Feb 26, 2020 | 72 | Strong improvement | None | |
| 10-K | Feb 28, 2019 | 73 | Strong improvement | None | |
| 10-K | Feb 23, 2018 | 75 | Strong improvement | None |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Sep 30, 2026), filed Oct 28, 2026. View filings on SEC EDGAR