CoStar Group (CSGP) Research | Aerarium Research

Forward Estimates

EPS Estimates

Current Qtr

$0.29

$0.27$0.30

vs $0.17+68.3%

18 analysts

Next Qtr

$0.38

$0.35$0.42

vs $0.23+63.7%

17 analysts

Current Yr

$1.36

$1.32$1.40

vs $0.87+56.6%

19 analysts

Next Yr

$1.80

$1.42$2.26

vs $1.36+32.0%

19 analysts

Revenue Estimates

Current Qtr

$929.50M

$925.81M$941.10M

vs $781.30M+19.0%

20 analysts

Next Qtr

$969.32M

$949.65M$993.90M

vs $833.60M+16.3%

19 analysts

Current Yr

$3.80B

$3.78B$3.83B

vs $3.25B+17.1%

21 analysts

Next Yr

$4.28B

$4.16B$4.42B

vs $3.80B+12.4%

21 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for CSGP on EDGAR.

CSGP filing events and research context
Filed	Item	Context
Feb 26, 2026	business	CoStar Group (CSGP) is a global provider of commercial and residential real estate information, analytics, and online marketplaces. The company operates through two primary segments: Commercial Real Estate (CRE) and Residential Real Estate. Its business model is heavily subscription-based, with approximately 93% of 2025 revenue derived from recurring contracts for services such as the CoStar database, LoopNet, and various residential agent tools. The company has aggressively expanded its market presence through strategic acquisitions, including Matterport (3D digital twin technology) and Domain (Australian property marketplace) in 2025, and Visual Lease in 2024. These acquisitions have driven significant revenue growth—totaling $3.2 billion in 2025, a 19% increase—but have also increased operating expenses due to higher headcount, integration costs, and amortization of acquired intangible assets. Financial analysts should note that while revenue is growing, net income has declined significantly, falling to $7 million in 2025 from $375 million in 2023, largely due to increased marketing, software development, and acquisition-related costs. The company maintains a strong liquidity position with $1.7 billion in cash and equivalents, supporting a $1.5 billion stock repurchase program. Key risks include the successful integration of recent acquisitions, potential goodwill impairment, and sensitivity to interest rate fluctuations and global economic conditions.
Feb 26, 2026	mda	CoStar Group (CSGP) operates through two primary segments: Commercial Real Estate and Residential Real Estate. The company’s revenue model is heavily subscription-based, accounting for 93% of total revenue in 2025, with contracts typically spanning at least one year. Key brands include CoStar, LoopNet, Apartments.com, Homes.com, and recent acquisitions Matterport, Domain, and Visual Lease. Financial performance in 2025 reflected a 19% revenue increase to $3.2 billion, though net income declined to $7 million, down from $139 million in 2024. This compression was driven by significant investments in sales, marketing, and integration costs related to the Matterport and Domain acquisitions. The company’s gross margin remains high at 79%, though it experienced slight pressure from increased amortization and infrastructure costs. Strategic priorities for 2026 center on integrating residential platforms, scaling Homes.com, and expanding the international footprint of LoopNet and CoStar into Australia and Europe. The company faces intense competition from incumbents and AI-driven platforms, necessitating ongoing R&D investment. Risks include potential volatility in the real estate market, reliance on third-party search engine traffic, and the successful integration of recent acquisitions. The company maintains a strong liquidity position with $1.7 billion in cash and continues to utilize share repurchases as a capital allocation tool.
Feb 26, 2026	risk_factors	CoStar Group (CSGP) operates as a provider of real estate information, analytics, and online marketplaces, organized into Commercial and Residential segments. The company’s business model is primarily subscription-based, with approximately 93% of 2025 revenue derived from recurring contracts that typically feature automatic renewals and one-year terms. Key brands include CoStar, LoopNet, Apartments.com, Homes.com, and Land.com, alongside recent acquisitions like Matterport and Domain. Financial analysts should note that while revenue grew 19% to $3.2 billion in 2025, the company reported an operating loss of $72 million, largely due to increased personnel, software development, and acquisition-related costs. The company’s strategy involves aggressive investment in AI-enabled features, such as "Homes AI," and international expansion into markets like Australia, Spain, and the U.K. Risk factors include the potential for reduced profitability and increased capital expenditures resulting from ongoing integration efforts and strategic investments. The company’s liquidity remains supported by $1.7 billion in cash and cash equivalents, though significant capital is allocated toward acquisitions and a $1.5 billion stock repurchase program. Management emphasizes non-GAAP measures like Adjusted EBITDA to evaluate performance, excluding acquisition-related charges and stock-based compensation, which have become more significant following recent M&A activity.

Filed

Item

Context

Feb 26, 2026

business

CoStar Group (CSGP) is a global provider of commercial and residential real estate information, analytics, and online marketplaces. The company operates through two primary segments: Commercial Real Estate (CRE) and Residential Real Estate. Its business model is heavily subscription-based, with approximately 93% of 2025 revenue derived from recurring contracts for services such as the CoStar database, LoopNet, and various residential agent tools. The company has aggressively expanded its market presence through strategic acquisitions, including Matterport (3D digital twin technology) and Domain (Australian property marketplace) in 2025, and Visual Lease in 2024. These acquisitions have driven significant revenue growth—totaling $3.2 billion in 2025, a 19% increase—but have also increased operating expenses due to higher headcount, integration costs, and amortization of acquired intangible assets. Financial analysts should note that while revenue is growing, net income has declined significantly, falling to $7 million in 2025 from $375 million in 2023, largely due to increased marketing, software development, and acquisition-related costs. The company maintains a strong liquidity position with $1.7 billion in cash and equivalents, supporting a $1.5 billion stock repurchase program. Key risks include the successful integration of recent acquisitions, potential goodwill impairment, and sensitivity to interest rate fluctuations and global economic conditions.

Feb 26, 2026

mda

CoStar Group (CSGP) operates through two primary segments: Commercial Real Estate and Residential Real Estate. The company’s revenue model is heavily subscription-based, accounting for 93% of total revenue in 2025, with contracts typically spanning at least one year. Key brands include CoStar, LoopNet, Apartments.com, Homes.com, and recent acquisitions Matterport, Domain, and Visual Lease. Financial performance in 2025 reflected a 19% revenue increase to $3.2 billion, though net income declined to $7 million, down from $139 million in 2024. This compression was driven by significant investments in sales, marketing, and integration costs related to the Matterport and Domain acquisitions. The company’s gross margin remains high at 79%, though it experienced slight pressure from increased amortization and infrastructure costs. Strategic priorities for 2026 center on integrating residential platforms, scaling Homes.com, and expanding the international footprint of LoopNet and CoStar into Australia and Europe. The company faces intense competition from incumbents and AI-driven platforms, necessitating ongoing R&D investment. Risks include potential volatility in the real estate market, reliance on third-party search engine traffic, and the successful integration of recent acquisitions. The company maintains a strong liquidity position with $1.7 billion in cash and continues to utilize share repurchases as a capital allocation tool.

Feb 26, 2026

risk_factors

CoStar Group (CSGP) operates as a provider of real estate information, analytics, and online marketplaces, organized into Commercial and Residential segments. The company’s business model is primarily subscription-based, with approximately 93% of 2025 revenue derived from recurring contracts that typically feature automatic renewals and one-year terms. Key brands include CoStar, LoopNet, Apartments.com, Homes.com, and Land.com, alongside recent acquisitions like Matterport and Domain. Financial analysts should note that while revenue grew 19% to $3.2 billion in 2025, the company reported an operating loss of $72 million, largely due to increased personnel, software development, and acquisition-related costs. The company’s strategy involves aggressive investment in AI-enabled features, such as "Homes AI," and international expansion into markets like Australia, Spain, and the U.K. Risk factors include the potential for reduced profitability and increased capital expenditures resulting from ongoing integration efforts and strategic investments. The company’s liquidity remains supported by $1.7 billion in cash and cash equivalents, though significant capital is allocated toward acquisitions and a $1.5 billion stock repurchase program. Management emphasizes non-GAAP measures like Adjusted EBITDA to evaluate performance, excluding acquisition-related charges and stock-based compensation, which have become more significant following recent M&A activity.

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CSGP filing events and research context

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