CoStar Group, Inc.
- Open
- 29.08
- Day high
- 30.02
- Day low
- 28.77
- Prev close
- 28.32
- Volume
- 2.2M
- Mkt cap
- $12.1B
- P/E (TTM)
- 507.8
- EPS (TTM)
- $0.06
- P/B
- 1.5
- P/S
- 3.6
- Yield
- —
- Per share
- —
- ▲Insiders net buying $2.5M over the last 3 months (2 open-market buys, 0 sales)
- 🏛Institutions mixed (13F)
CoStar Group, Inc. (CSGP) is a Real Estate company listed on NASDAQ. The stock is down 65% over the past year. Over the trailing 3 months, insiders filed 2 open-market buys and 0 sales (SEC Form 4).
CoStar Group, Inc. (CSGP) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 12 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CSGP earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $0.18 | $0.23 | +27.8% | $897M | +0.0% |
| Feb 24, 2026 | $0.27 | $0.31 | +13.6% | $900M | +0.9% |
| Oct 28, 2025 | $0.18 | $0.23 | +26.3% | $834M | +2.5% |
| Jul 22, 2025 | $0.14 | $0.17 | +23.4% | $781M | +1.2% |
| Feb 18, 2025 | $0.22 | $0.26 | +18.2% | $709M | +1.2% |
| Oct 22, 2024 | $0.16 | $0.22 | +35.3% | $693M | -0.5% |
| Jul 23, 2024 | $0.10 | $0.15 | +43.1% | $678M | +0.1% |
| Feb 20, 2024 | $0.32 | $0.33 | +3.1% | $640M | +0.9% |
| Jul 25, 2023 | $0.30 | $0.31 | +3.3% | $606M | -0.2% |
| Feb 21, 2023 | $0.36 | $0.38 | +5.6% | $573M | +0.6% |
| Jul 26, 2022 | $0.21 | $0.28 | +33.3% | $536M | +0.8% |
| Feb 22, 2022 | $0.29 | $0.35 | +20.7% | $507M | +1.1% |
CSGP insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 24, 2026 | McCarthy Christine Mdirector | Grant | 8,262 | — |
| Jun 24, 2026 | Sams Louise Sdirector | Grant | 8,262 | — |
| Jun 24, 2026 | Hill John Wdirector | Grant | 8,262 | — |
| Jun 24, 2026 | Brunner Angelique G.director | Grant | 8,262 | — |
| Jun 24, 2026 | Musslewhite Robert Wdirector | Grant | 8,262 | — |
| Jun 24, 2026 | Glaser Rachel Cdirector | Grant | 8,262 | — |
| Jun 24, 2026 | BERISFORD JOHN Ldirector | Grant | 8,262 | — |
| Jun 16, 2026 | Cann Cynthia Cammettofficer: Chief Accounting Officer | Tax | 461 | $32.04 |
| May 4, 2026 | FLORANCE ANDREW Cdirector, officer: President and CEO | Buy | 3,100 | $35.82 |
| May 4, 2026 | FLORANCE ANDREW Cdirector, officer: President and CEO | Buy | 68,330 | $35.17 |
| Mar 17, 2026 | DESMARAIS MICHAEL Jofficer: Chief Human Resources Officer | Tax | 2,873 | $43.63 |
| Mar 17, 2026 | Boxer Geneofficer: General Counsel and Secretary | Tax | 428 | $43.63 |
| Mar 17, 2026 | Boxer Geneofficer: General Counsel and Secretary | Tax | 482 | $43.63 |
| Mar 17, 2026 | SIMURO FRANKofficer: Chief Technology Officer | Tax | 11,107 | $43.63 |
| Mar 17, 2026 | Cann Cynthia Cammettofficer: Chief Accounting Officer | Tax | 1,194 | $43.63 |
Source: CSGP SEC Form 4 filings, latest Jun 24, 2026. For informational purposes only — not investment advice.
See the full CSGP insider & 13F page →CoStar Group, Inc. company profile
Overview
CoStar Group, Inc. (NASDAQ:CSGP) is a leading provider of commercial real estate information, analytics, and online marketplace services founded in 1987 and headquartered in Washington, D.C. The company went public in 1998 and has grown through strategic acquisitions and organic expansion to become the dominant player in commercial real estate data and services. CoStar operates across multiple segments including commercial real estate information services, residential real estate platforms, and online marketplaces, serving professionals in the United States, Canada, Europe, and other international markets.
Business
CoStar Group operates in the real estate technology and information services industry, providing critical data infrastructure and marketplace platforms that facilitate commercial and residential real estate transactions. The company's ecosystem serves as the backbone for how real estate professionals research properties, analyze markets, and connect with potential clients. The company's core commercial real estate platform, CoStar Property, functions as a comprehensive database containing detailed information on office, industrial, retail, multifamily, hospitality, and student housing properties. This includes property specifications, ownership details, lease rates, and transaction history. CoStar COMPS provides a robust database of comparable sales transactions that professionals use for property valuations and market analysis. CoStar Market Analytics offers aggregated market trend data that helps users understand broader market conditions and make informed investment decisions. In the residential sector, CoStar operates Apartments.com, one of the largest apartment listing platforms in the United States, connecting renters with available units. The company also runs Homes.com, a residential real estate portal launched to compete with established players like Zillow and Realtor.com. LoopNet serves as the primary online marketplace for commercial real estate listings, where brokers and property owners advertise available properties for sale or lease. The company's business segments generate revenue as follows: CoStar commercial information services accounts for approximately 37% of total revenue, Apartments.com represents about 38%, LoopNet contributes roughly 10%, with the remaining 15% coming from newer ventures like Homes.com, international operations, and specialized services like Ten-X auction platform and recently acquired Matterport's 3D visualization technology.
Revenue model
CoStar Group operates primarily on a subscription-based software-as-a-service (SaaS) model, generating recurring revenue from professional users who pay monthly or annual fees to access its platforms and data services. The company's commercial real estate professionals typically pay between $1,000 to $3,000 annually for access to CoStar's comprehensive database and analytics tools. Apartments.com generates revenue through subscription fees from property management companies and landlords who pay to list their available units and access marketing tools, with typical subscriptions ranging from hundreds to thousands of dollars monthly depending on portfolio size. The residential platform Homes.com monetizes through subscriptions sold to real estate agents, with memberships priced around $475-500 per month. LoopNet operates on a freemium model where basic listings are free, but premium placement and enhanced marketing features require paid subscriptions. The company also generates transaction-based revenue through its Ten-X auction platform, which takes commissions on completed commercial real estate sales. Several factors influence CoStar's profit margins positively or negatively. Positive margin drivers include the company's strong network effects and data moats, which allow for pricing power and high customer retention rates exceeding 90%. The scalable nature of digital platforms means incremental users can be added with minimal additional costs. Market consolidation in real estate services creates opportunities for cross-selling and upselling existing customers. Negative margin pressures come from significant sales force expansion costs, as the company employs over 1,800 salespeople and continues hiring aggressively. Heavy marketing investments, particularly the $900 million commitment to promote Homes.com, weigh on near-term profitability. Increased competition in residential real estate portals forces higher customer acquisition costs, while economic downturns in commercial real estate can pressure subscription renewals and new customer additions.
Competitive moat
CoStar Group possesses a formidable economic moat built primarily on network effects and data aggregation advantages that create high switching costs for customers. The company's commercial real estate database represents decades of accumulated property information, transaction records, and market intelligence that would be extremely difficult and expensive for competitors to replicate. This comprehensive dataset becomes more valuable as more users contribute information, creating a virtuous cycle where additional participants enhance the platform's utility for all users. The company benefits from strong customer lock-in effects due to the mission-critical nature of its services for real estate professionals. Commercial brokers, investors, and property managers rely on CoStar's data for daily operations, making the platforms essential business tools rather than discretionary purchases. High switching costs arise from workflow integration, user training requirements, and the risk of losing access to historical data and market insights. Customer retention rates consistently exceed 90%, demonstrating the stickiness of CoStar's services. However, the moat faces several competitive pressures and potential disruptions. In the residential sector, CoStar competes against well-established players like Zillow, Realtor.com, and Redfin, which have significant brand recognition and marketing budgets. The company's aggressive $900 million investment in Homes.com represents an attempt to break into a mature market dominated by incumbents. Technology disruption risks include artificial intelligence and machine learning tools that could democratize property analysis and reduce dependence on proprietary databases. Additionally, regulatory changes in real estate practices, such as recent National Association of Realtors rule modifications, could alter how commissions and listings are handled, potentially affecting CoStar's business model. Despite these challenges, the company's dominant position in commercial real estate information services and its substantial financial resources to invest in new technologies and market expansion provide significant defensive capabilities.
Risks & safety
CoStar Group maintains a strong financial position with substantial margin of safety, though recent investments have pressured near-term profitability metrics. • Liquidity and Solvency: Excellent financial health with $4.68 billion in cash and short-term investments as of Q1 2025, providing substantial runway for operations and investments. Current ratio of 6.0 indicates strong ability to meet short-term obligations. Debt-to-equity ratio of only 13% demonstrates conservative capital structure with minimal leverage risk. • Cash Flow Dynamics: Operating cash flow of $393 million for 2024 demonstrates strong underlying business generation, though free cash flow turned negative at -$245 million due to heavy capital investments in Homes.com expansion and sales force growth. The company burned approximately $26 million in free cash flow in Q1 2025. • Valuation Metrics: Trading at elevated multiples with EV/EBITDA of 1,666x in Q1 2025 due to suppressed EBITDA from heavy investment spending. Price-to-book ratio of 3.8x reflects premium valuation. However, the company's historical ability to generate strong returns and current investment cycle suggests these metrics may normalize as investments mature. • Other Considerations: 56 consecutive quarters of double-digit revenue growth demonstrates consistent execution. High customer retention rates above 90% provide revenue stability. Substantial cash position eliminates near-term financial distress risk despite current investment-driven losses.
Recent development
Over the past few years, CoStar Group has executed several major strategic initiatives that represent significant pivots in its business model and market approach. The most substantial development has been the aggressive expansion into residential real estate through the launch and promotion of Homes.com. Beginning in 2023, the company committed $900 million to establish Homes.com as a major competitor to Zillow and Realtor.com, implementing extensive marketing campaigns including Super Bowl advertisements and building a dedicated sales force of over 600 people. This initiative has shown early success, with Homes.com becoming the second most visited residential portal in the United States and achieving unaided brand awareness growth from 4% to 36%. The company has also pursued strategic acquisitions to enhance its technology capabilities and market reach. In early 2025, CoStar acquired Matterport, a leader in 3D visualization technology, for integration across its commercial and residential platforms. The company acquired Visual Lease in 2024 for $272.5 million to strengthen its real estate management software offerings. International expansion has been another key focus, with the acquisition of OnTheMarket in the UK and Business Immo in France, along with plans to launch CoStar services in additional European markets. Sales force expansion has been a consistent theme across all business segments, with the company growing from approximately 1,390 to 1,890 salespeople by the end of 2025. This expansion supports both organic growth in existing markets and the launch of new products like Homes.com. The company has also made strategic pricing model changes, particularly shifting LoopNet to an asset-based pricing structure to better capture value from its commercial marketplace platform. Recent quarters have shown management's focus on operational efficiency improvements while maintaining growth investments. The company has worked to optimize marketing spend allocation, reduce certain operational costs, and improve sales force productivity after temporary disruptions caused by cross-training salespeople on multiple products during the Homes.com launch.
CSGP company profile · for informational purposes only — not investment advice.
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