At a glance
CoStar Group Inc is worth $12.80B, about 1591 times its fiscal 2025 earnings. Revenue grew 18.7% to $3.25B in fiscal 2025, with 0.2% kept as profit; over 5 years it has grown 14.4% a year. It pays no dividend; it spent $500.0M buying back its shares over FY2021–FY2025. The stock returned −53.8% over the past year with dividends reinvested and −17.9% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 32.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months after the low.
The business in plain English
CoStar Group sells real estate information and runs property websites. Over more than 35 years it has built a database covering offices, warehouses, shops, apartments and homes, plus lease terms, sale prices, owners and tenants. It says it has the largest research department in commercial real estate. It runs online marketplaces in the U.S., Australia, Europe, Canada and Asia-Pacific.
The Commercial Real Estate segment brought in $1.79 billion, or 55% of the $3.25 billion in revenue for the fiscal year ended December 31, 2025. Industry professionals, lenders and hotels pay subscriptions for the CoStar data platform and STR hotel benchmarking. Owners and brokers pay for ad packages to list space on LoopNet. The segment also includes Matterport, which offers subscriptions for 3D “digital twins” (virtual walk-through copies of buildings) and the cameras to capture them. It also includes the BizBuySell business-for-sale site and the Ten-X auction platform.
Residential Real Estate supplied the other 45%, or $1.46 billion. Consumers use Apartments.com, Homes.com and Land.com to find places to rent or purchase. CoStar charges the agents, landlords and property managers trying to reach them for marketing and leads. Homes.com runs on a “your listing, your lead” basis, meaning buyer inquiries go to the agent who listed the home. Total revenue grew 18.7% in fiscal 2025.
Price history
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CSGP -53.8% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Commercial Real Estate | $1.79B | 55% |
| Residential Real Estate | $1.46B | 45% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $952.0M, up 14.1% from a year earlier, and net income was $74.0M.
- For fiscal 2025, revenue was $3.25B (+18.7% year over year; +14.4% a year from FY2020 to FY2025) with a 0.2% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +14.4% good |
|---|---|
| Operating margin | -2.2% weak |
| Free cash flow margin | 3.8% watch |
| Return on equity (FY2025) | 0.1% weak |
| Return on assets (FY2025) | 0.1% weak |
| Net cash (cash minus debt) | $-500.0M watch |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $1.66B | $227.1M | $486.1M |
| FY2021 | $1.94B | $292.6M | $346.0M |
| FY2022 | $2.18B | $369.5M | $443.5M |
| FY2023 | $2.46B | $375.0M | $372.0M |
| FY2024 | $2.74B | $139.0M | $-186.0M |
| FY2025 | $3.25B | $7.0M | $123.0M |
Valuation snapshot
| Market value | $12.80B |
|---|---|
| P/E ratio | 1591 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
CoStar Group’s market value went from $36.43B at the end of 2020 to $12.80B on Nov 2, 2026, down 65%; since the end of 2025 it is down 55%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $12.80B | -55.1% |
| 2025 | $28.50B | -2.9% |
| 2024 | $29.35B | -17.8% |
| 2023 | $35.69B | +13.5% |
| 2022 | $31.43B | +0.7% |
| 2021 | $31.21B | -14.3% |
| 2020 | $36.43B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| CSGP price data to Nov 2, 2026 | -52.7% | -53.8% | -24.5% | -17.9% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -52.7% |
| 2025 | -6.1% |
| 2024 | -18.1% |
| 2023 | +13.1% |
| 2022 | -2.2% |
| 2021 | -14.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 9.4% over that stretch · deepest drop along the way 32.4%, back to its old high 7.7 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 3 open-market purchases ($5.0M) and 2 sales ($253K).
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 4, 2026 | Andrew C Florance Founder and CEO, Director | buy | $2.5M |
| May 1, 2026 | Andrew C Florance President and CEO, Director | buy | $2.4M |
| Aug 7, 2026 | Cynthia Cammett Cann Chief Accounting Officer | sell | $147K |
| May 1, 2026 | Andrew C Florance President and CEO, Director | buy | $111K |
| Aug 5, 2026 | John W Hill Director | sell | $106K |
Who owns it
Large shareholders (13G filings)
| Vanguard Portfolio Management | 9.12% | Mar 31, 2026 |
| Vanguard Capital Management | 7.53% | Mar 31, 2026 |
| BlackRock, Inc. | 7.5% | Mar 31, 2025 |
| BAMCO INC /NY/ | 5.3% | Jun 30, 2026 |
ETFs with the most weight in CSGP
| PTEC Global X PropTech ETF | 9.93% |
| EBIZ Global X E-commerce ETF | 4.69% |
| BKIV BNY Mellon Innovators ETF | 4.14% |
| LRGG Macquarie Focused Large Growth ETF | 3.8% |
| RSPR Invesco S&P 500 Equal Weight Real Estate ETF | 3.44% |
| XLRE Real Estate Select Sector SPDR Fund | 3.27% |
| TOGA Tremblant Global ETF | 3.01% |
| IYR iShares U.S. Real Estate ETF | 2.66% |
What could go wrong
- Losing listings or access to MLS data. Marketplaces such as Homes.com and Apartments.com depend on listings from brokers, agents, owners and property managers. Breaking MLS rules (MLSs are shared listing databases run by local broker groups) could cut off listing data.
- Search engine changes could cut traffic. If CoStar's sites slip in search results, or search engines adopt technologies or ranking methods that send fewer visitors, its marketplaces could lose traffic and become less valuable to advertisers.
- Matterport and Domain deals may disappoint. CoStar may not get the expected benefits from acquiring Matterport and Australian property site Domain. Matterport also depends on outside suppliers to make its camera hardware on time and at reasonable cost.
- Heavy spending is squeezing profits. CoStar warns its internal and external investments may shrink the profit it keeps from each sales dollar. Building its Richmond, Virginia, campus adds big costs. Its core operations lost $72 million in fiscal 2025.
- Guarding its data from AI copying. CoStar's value rests on its proprietary property database. It warns that AI and other new technologies could make it harder to stop third parties from copying or misusing its data and intellectual property.
- A real estate slump could hit demand. CoStar's paying customers are mostly real estate professionals, owners and lenders. A broad economic downturn, or a downturn or consolidation in the real estate industry, could lead them to cut subscriptions and advertising.
Recent events
- Major agreement signed; Quarterly results released; Investor presentation or announcement
- Investor presentation or announcement
- Quarterly results released
- Executive or board change; Investor presentation or announcement
- Executive or board change; Shareholder vote results; Investor presentation or announcement
- Major agreement signed; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Executive or board change
For income and retirement investors
CoStar Group pays no dividend. Its 10-K says it does not intend to pay one, so any return has to come from a rising share price. That may not suit investors who need regular cash income, because the only way to draw money is to sell shares. The company spent $500 million repurchasing its own shares in fiscal 2025, after none in fiscal 2023 or 2024. Even so, the share count rose 1.9% between February 2022 and October 2026. In the 2022 bear market (a broad market fall of 20% or more), the stock fell 32.4% from January 3 to March 7. It regained its old high by October 26, 2022, about 7.7 months later. Its later slide was deeper: as of October 28, 2026, the price was down 64.8% over one year. Its worst peak-to-trough drop over three years was 72.4%. Single stocks carry more risk than diversified funds, because one company's setbacks aren't offset by others.
Questions investors ask
How does CoStar Group make money?
Mostly through subscriptions and advertising. Subscriptions to its information, analytics and online marketplace services bring in the largest share of revenue. In the fiscal year ended December 31, 2025, Commercial Real Estate produced 55% of the $3.25 billion total. That segment includes the CoStar data platform, LoopNet listing ads, Matterport 3D scans and cameras, BizBuySell and Ten-X. Residential Real Estate produced 45% by charging agents, landlords and property managers for marketing and leads on Apartments.com, Homes.com and Land.com.
Does CoStar Group pay a dividend?
No. CoStar Group pays no dividend, and its 10-K for the year ended December 31, 2025 says it does not intend to pay one. A shareholder's return depends on the share price rising. The company does return cash by repurchasing its own shares. It spent $500 million on repurchases in fiscal 2025, after none in fiscal 2023 or 2024. It calls repurchases discretionary, and the share count still rose 1.9% between February 2022 and October 2026.
Is CoStar Group profitable?
Only barely, based on its last full fiscal year. In fiscal 2025, CoStar earned $7 million of net income on $3.25 billion of revenue, or 2 cents per diluted share, and its core operations lost $72 million. Those thin earnings put its price-to-earnings ratio (share price divided by yearly earnings per share) at about 1,377 as of October 28, 2026. In the quarter ended September 30, 2026, it reported net income of $74 million on revenue of $952 million. That revenue was 14.1% higher than a year earlier.
How much has CoStar stock fallen?
Sharply. As of October 28, 2026, CoStar shares were down 64.8% over one year and 59% year to date. They were down a total of 69% over five years. The deepest peak-to-trough drop over the past three years was 72.4%. Profits have also shrunk: net income fell from $375 million in fiscal 2023 to $7 million in fiscal 2025, even as revenue grew from about $2.46 billion to $3.25 billion.
Are CoStar insiders buying the stock?
Yes. In the 25 insider filings reviewed for the year to October 29, 2026, insiders made three purchases worth about $5.0 million and two sales worth about $253,000. Founder and CEO Andrew C. Florance made all three purchases. They included about $2.49 million of stock on August 4, 2026 and $2.40 million on May 1, 2026. The sellers were the chief accounting officer and a director. Insider purchases can signal management confidence but do not guarantee returns.