Costar Group, Inc. (CSGP)
Real Estate · Real Estate Services · US stock · S&P 500 component
$35.45
▲ +2.55 (7.75%)
Fair valueUndervalued
$48 +35.0% to fair value
$24fair band $41–$58$72
Day's range
$33.44 – $35.63
52-week range
$25.89 – $79.08
About Costar Group, Inc.
CoStar Group provides information, analytics and online marketplaces for property markets. It compiles commercial real estate data and operates listing sites, including LoopNet for commercial space, plus sites for apartment rentals and home listings. Customers are brokers, property owners, investors, lenders, landlords and advertisers who pay subscriptions or listing fees.
CoStar earns revenue from subscriptions to its data and from advertising and listing fees on its marketplaces. Revenue is $3.6 billion over the last twelve months, growing at 14.2% a year across three years. The operating margin is 2.2%, and the business earns a profit of 1% on the capital invested in it. The company has net debt of -0.3 times EBITDA, meaning it holds more cash than debt, and it pays no dividend. On the site's X-Ray Score it receives 46 out of 100.
Price chart
52-wk range $25.89 – $79.08Volume 8,311,333Daily, split-adjusted
Vitals
Market cap$14.3B
52-week range$25.89 – $79.08
Volume (last day)8,311,333
P/E (TTM)201.1
EBIT / EV yield0.5%
Free-cash-flow yield2.0%
Dividend yieldNo dividend
Revenue (TTM)$3.6B
Net income (TTM)$73M
Operating margin2.2%
Return on capital0.7%
Debt incl. leases$1.1B
Cash & securities$1.3B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$48middle half of models $39 – $57
Undervalued
+35.0% to fair value
Average of the 10 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is High, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $35
Undervalued < $41Fair $41 – $58Overvalued > $58
P/E multiple
$34
P/B multiple
$60
P/S multiple
$67
EV/EBITDA multiple
$36
EV/EBIT multiple
$23
EV/revenue multiple
$58
10-year DCF, EBITDA exit
$46
5-year DCF, EBITDA exit
$48
10-year DCF, revenue exit
$51
5-year DCF, revenue exit
$55
10-year DCF, growth exit · not used
$7
5-year DCF, growth exit · not used
$5
Earnings power value · not used
$9
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, but the price is low
Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Real Estate peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
47/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield0.5%
Free-cash-flow yield2.0%
Fair value vs price1.4×
Growth
Fair
51/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)14.2%
EPS growth (3y)-72.2%
Growth consistency100%
Profitability
Weak
33/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital0.7%
Operating margin2.2%
Gross profitability27.6%
Financial health
Fair
57/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA-0.3×
Interest cover3.2×
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
+11.5%
Mar '25
+15.2%
Jun '25
+20.4%
Sep '25
+26.9%
Dec '25
+22.5%
Mar '26
+18.4%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $925M, diluted EPS $0.14.
SWOT analysis: Costar Group, Inc.
Strengthsinside the company
- Revenue has grown 14.2% a year over three years (median 6.6% for sector peers).
- Cash exceeds debt (net debt is negative), which gives room to invest or ride out a downturn.
Weaknessesinside the company
- Return on invested capital is only 0.7% (median 7.7% for sector peers), so the business earns little above its cost of capital.
- Operating margin of 2.2% is thin against 36.0% for sector peers.
- Earnings per share have declined 72.2% a year over three years.
Opportunitiesvaluation and setting
- Revenue growth picked up to 18.7% last year from 14.2% a year over three years.
- The price is 35% below our fair value estimate, with the gap larger than the margin we allow for error.
Threatsvaluation and setting
- Trades at 196.1x earnings, 514% above the 31.9x median of sector peers, so the price already assumes better results.
- Valuation uncertainty is high: the models give widely different values, so the fair value range is wide.
- Our Market Compass rates the backdrop for Real Estate as unfavourable.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare CSGP with peers and sector
Medians of 28 Real Estate peers and of 28 Real Estate stocks in our universe.
Largest peers (X-Ray Score): WELL 48, PLD 43, EQIX 51, AMT 53, SPG 42, DLR 37.
| Metric | CSGP | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 46 | 52 | 52 |
| Valuation | 47 | 53 | 53 |
| Growth | 51 | 56 | 56 |
| Profitability | 33 | 53 | 53 |
| Financial health | 57 | 53 | 53 |
| Dividends | – | 47 | 47 |
Sector leaders: highest X-Ray Score in Real Estate
CSGP ranks #21 of 29 in Real Estate by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for CSGP
Each factor is rated by where CSGP stands among the 29 Real Estate stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 10 Good · 2 Average · 11 Bad of 23
Growth: 2 · 0 · 1
Profitability: 1 · 0 · 4
Financial strength: 2 · 1 · 1
Valuation: 2 · 0 · 3
Cash flow: 1 · 1 · 2
Efficiency: 2 · 0 · 0
| Factor | CSGP | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +14.2% | Good beats 84% | +6.8% | – | – |
| Revenue growth, last year | +18.7% | Good beats 95% | +5.1% | +12.5% | ▲ Better |
| EPS growth, 3 years a year | −72.2% | Bad beats 2% | −1.9% | – | – |
| Profitability | |||||
| Gross margin | 78.7% | Good beats 91% | 47.1% | 80.0% | ≈ In line |
| Operating margin | 2.2% | Bad beats 2% | 34.3% | 11.5% | ▼ Worse |
| Net margin | 2.1% | Bad beats 5% | 21.5% | 15.1% | ▼ Worse |
| Return on invested capital | 0.7% | Bad beats 2% | 7.5% | – | – |
| Return on equity | 0.9% | Bad beats 6% | 7.3% | 5.1% | ▼ Worse |
| Financial strength | |||||
| Net debt / EBITDA | -0.3x | Good beats 97% | 4.6x | -6.8x | ▼ Worse |
| Interest cover | 3.2x | Average beats 44% | 3.4x | 9.1x | ▼ Worse |
| Current ratio | 2.21 | Good beats 84% | 1.22 | 11.78 | ▼ Worse |
| Piotroski F-score | 5 / 9 | Bad beats 28% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 196.1x | Bad beats 2% | 32.1x | 106.5x | ▼ Worse |
| Price / book | 1.8x | Good beats 71% | 2.6x | 4.5x | ▲ Better |
| Price / sales | 4.0x | Good beats 81% | 7.0x | 14.1x | ▲ Better |
| EV / EBITDA | 36.1x | Bad beats 2% | 18.6x | 80.4x | ▲ Better |
| Free cash flow yield | 2.0% | Bad beats 18% | 4.1% | 1.0% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 7.9% | Bad beats 9% | 44.6% | 15.2% | ▼ Worse |
| Cash from operations / net income | 6.80 | Good beats 98% | 1.91 | 1.61 | ▲ Better |
| Free cash flow growth, 3 years a year | −34.8% | Bad beats 1% | +11.7% | – | – |
| Accruals (lower is better) | −4.2% | Average beats 60% | −3.7% | – | – |
| Efficiency | |||||
| Inventory turnover | 37.9x | Good beats 96% | 4.2x | – | – |
| Days sales outstanding | 26 days | Good beats 80% | 53 days | 26 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 6 Good · ● 2 Average · ● 7 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldBad
Risk models
Piotroski F-ScoreBad
Growth
EPS growth (3y)Bad
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioGood
Net debt / EBITDAGood
Interest coverAverage
Valuation
Fair value vs priceGood
EBIT / EV yieldBad
Profitability
Return on invested capitalBad
Operating marginBad
Gross profitabilityGood
Each check is graded against the company's sector, not a fixed number. Checklist score 46/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $1.9B | $2.2B | $2.5B | $2.7B | $3.2B |
| Operating income | $432M | $451M | $282M | $5M | −$72M |
| Net income | $293M | $370M | $375M | $139M | $7M |
| Operating cash flow | $470M | $479M | $490M | $393M | $430M |
| Operating margin | 22.2% | 20.7% | 11.5% | 0.2% | -2.2% |
| Free cash flow | $346M | $444M | $372M | −$186M | $123M |
| Diluted EPS | $0.74 | $0.93 | $0.92 | $0.34 | $0.02 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
10 bullish · 0 neutral · 6 bearish
Weekly
Neutral
5 bullish · 1 neutral · 6 bearish
Monthly
Strongly bearish
0 bullish · 1 neutral · 7 bearish
Moving averages (daily)
| SMA 10 | 31.65 | Bullish |
| EMA 10 | 32.02 | Bullish |
| SMA 20 | 29.69 | Bullish |
| EMA 20 | 30.85 | Bullish |
| SMA 50 | 30.50 | Bullish |
| EMA 50 | 30.42 | Bullish |
| SMA 100 | 30.38 | Bullish |
| EMA 100 | 32.18 | Bullish |
| SMA 200 | 37.58 | Bearish |
| EMA 200 | 39.29 | Bearish |
Oscillators (daily)
| RSI (14) | 75.50 | Bearish |
| MACD (12, 26) | 1.08 | Bullish |
| Momentum (12) | 28.30 | Bullish |
| Stochastic %K (14) | 97.87 | Bearish |
| Williams %R (14) | -2.13 | Bearish |
| CCI (20) | 180.1 | Bearish |
Pivot points (classic, last session)
S3 31.86 | S2 32.65 | S1 34.05 | Pivot 34.84 | R1 36.24 | R2 37.03 | R3 38.43 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
ETFs that hold CSGP
| ETF | Share of the fund |
|---|---|
| AKRE Akre Focus | 4.65% |
| XLRE The Real Estate Select Sector SPDR | 1.20% |
| IYR iShares U.S. Real Estate | 0.85% |
| MOAT VanEck Morningstar Wide Moat | 0.71% |
| ARTY iShares Future AI & Tech | 0.69% |
| VNQ Vanguard Real Estate | 0.63% |
| CGGR Capital Group Growth | 0.23% |
| JAVA JPMorgan Active Value | 0.20% |
The eight funds with the largest weight in CSGP among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
CSGP stock splits
CSGP has split its stock once since 2021. The latest was a 10-for-1 split on 28 Jun 2021.
Full CSGP stock split history →CSGP SEC filings
8-KSEC EDGAR
Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change; Regulation FD disclosure
8-KSEC EDGAR
Director or officer change; Shareholder vote results
8-KSEC EDGAR
Entered a material agreement; Regulation FD disclosure
DEF 14ASEC EDGAR
Proxy statement
10-QSEC EDGAR
Quarterly report
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.