XStocksXray

Research report · 16 October 2026

Costar Group, Inc. (CSGP)

Real Estate · Real Estate Services · US stock · price as of 16 Oct 2026

Key indicators

Price	$32.31
52-week range	$25.89 – $79.08
Market cap	$13.1B
P/E (trailing)	183.3×
EV / EBITDA	32.5×
Free-cash-flow yield	2.1%
Dividend yield	–
Revenue (last 12 months)	$3.6B
Revenue growth (3y a year)	14.2%
Operating margin	2.2%
Return on invested capital	0.7%
Net debt / EBITDA	-0.3×

Fair value

Blended fair value$5.12 range $5 – $5

Versus priceData under review+0% to fair value

Peer multiples	$5.66
Fundamentals-adjusted multiple	$6.17
10-year DCF (market-scaled)	$3.52
Earnings power value (floor, not blended)	$8.06
Model uncertainty	High

X-Ray Score

38/ 100 · High confidence · ahead of 10% of sector peers

Valuation17

Growth51

Profitability33

Financial health57

Dividends–

Five-year price chart navy: price · brown: 200-day average · blue band: fair value range

Executive summary

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.

StocksXray gives Costar Group, Inc. an X-Ray Score of 38 out of 100 (high confidence), ahead of 10% of the S&P 500 stocks in its sector. Its strongest lens is financial health (57) and its weakest is valuation (17).

Our fair value blend is $5.12 (range $4.97 to $5.27). At $32.31 the stock trades 532% above that blend, so the label is "Data under review" with high model uncertainty. Fair value is a range, not a price target.

XStocksXray

Costar Group, Inc. (CSGP)

Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months

	FY2021	FY2022	FY2023	FY2024	FY2025	Now
Price	$79.03	$77.28	$87.39	$71.59	$67.24	$32.31
Market cap	$31.2B	$30.7B	$35.6B	$29.2B	$28.3B	$13.1B
P/E	106.8×	83.1×	95.0×	210.6×	3,362.0×	183.3×
EV / revenue	14.6×	12.2×	12.8×	9.3×	8.5×	3.6×
EV / EBITDA	49.6×	45.4×	80.4×	167.8×	144.9×	32.5×
Price / free cash flow	90.0×	69.3×	95.6×	–	230.0×	46.7×
Free-cash-flow yield	1.1%	1.4%	1.0%	−0.6%	0.4%	2.1%
Price / book	5.5×	4.5×	4.8×	3.9×	3.4×	1.6×
Dividend yield	–	–	–	–	–	–

Fundamentals checklist ● 5 Good · ● 2 Average · ● 8 Bad · each check graded against the sector

Cash quality

Earnings backed by cash−4.2%Average

Free-cash-flow yield2.1%Bad

Risk models

Piotroski F-Score5 of 9Bad

Growth

EPS growth (3y)−72.2%Bad

Free-cash-flow growth (3y)−34.8%Bad

Revenue growth (3y)14.2%Good

Growth consistency100%Good

Balance sheet

Current ratio2.2×Good

Net debt / EBITDA-0.3×Good

Interest cover3.2×Average

Valuation

Fair value vs price0.2×Bad

EBIT / EV yield0.6%Bad

Profitability

Return on invested capital0.7%Bad

Operating margin2.2%Bad

Gross profitability27.6%Good

XStocksXray

Costar Group, Inc. (CSGP)

Financials US$ millions, from SEC filings; last column is the last twelve months

Income statement	FY21	FY22	FY23	FY24	FY25	LTM
Revenue	1,944	2,182	2,455	2,736	3,247	3,556
Gross profit	1,587	1,768	1,964	2,178	2,561	2,798
Operating income	432	451	282	5	-72	77
Net income	293	370	375	139	7	73
Diluted EPS ($)	0.74	0.93	0.92	0.34	0.02	0.18
Free cash flow	346	444	372	-186	123	280
Gross margin	81.6%	81.0%	80.0%	79.6%	78.9%	78.7%
Operating margin	22.2%	20.7%	11.5%	0.2%	−2.2%	2.2%
Net margin	15.1%	16.9%	15.3%	5.1%	0.2%	2.1%
Balance sheet	FY21	FY22	FY23	FY24	FY25	LTM
Total assets	7,257	8,403	8,920	9,257	10,538	10,139
Cash	3,800	5,000	5,200	4,681	1,633	1,266
Total debt	988	989	991	992	993	994
Equity	5,712	6,870	7,339	7,553	8,334	7,932
Dividend per share ($)	–	–	–	–	–	–

Revenue and net income US$ billions: navy revenue, teal net income

Margins blue gross, teal operating, brown net

Latest quarters

	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue ($M)	732	781	834	900	897	925
Growth vs a year earlier	+11.5%	+15.2%	+20.4%	+26.9%	+22.5%	+18.4%
Net income ($M)	-15	6	-31	46	3	55
Diluted EPS ($)	-0.04	0.01	-0.07	–	0.01	0.14

XStocksXray

Costar Group, Inc. (CSGP)

Peers in Real Estate Services

Company	X-Ray
CSGP · Costar Group, Inc.	38
CBRE · Cbre Group, Inc.	60

Market Compass outlook for Real Estate: Unfavourable (20/100). It blends regime history, macro sensitivity, momentum and valuation.

Returns

1 week	+8.9%
1 month	+10.3%
3 months	+8.9%
6 months	−18.7%
1 year	−57.0%
3 years	−60.5%
5 years	−62.8%

Technical summary

DailyBullish10 bullish · 1 neutral · 5 bearish

WeeklyNeutral5 bullish · 1 neutral · 6 bearish

MonthlyStrongly bearish0 bullish · 1 neutral · 7 bearish

50-day / 200-day average	$30.30 / $38.24
52-week low / high	$25.89 / $79.08
Classic pivot, support and resistance	S2 31.12 · S1 31.72 · P – · R1 32.78 · R2 33.24

XStocksXray

Costar Group, Inc. (CSGP)

Strengths

Revenue growth of 14.2% a year over three years is ahead of 85% of its sector peers.
Holds more cash than debt (net debt to EBITDA of -0.3×).

Risks and weak spots

Free-cash-flow yield is weak against Real Estate peers (2.1%).
Piotroski F-Score is weak against Real Estate peers (5 of 9).
EPS growth (3y) is weak against Real Estate peers (−72.2%).
Free-cash-flow growth (3y) is weak against Real Estate peers (−34.8%).
Fair value vs price is weak against Real Estate peers (0.2×).
EBIT / EV yield is weak against Real Estate peers (0.6%).
Return on invested capital is weak against Real Estate peers (0.7%).
Operating margin is weak against Real Estate peers (2.2%).

Latest SEC filings

Date	Form	Items
21 Aug 2026	8-K	7.01,9.01
29 Jul 2026	10-Q
28 Jul 2026	8-K	2.02,9.01
13 Jul 2026	8-K	5.02,7.01,9.01
25 Jun 2026	8-K	5.02,5.07,7.01,9.01
29 May 2026	8-K	1.01,7.01,9.01
30 Apr 2026	DEF 14A
29 Apr 2026	10-Q

How to read this report

Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.