COSTAR GROUP, INC.
$30.96
+0.86 (+2.86%) · delayed · Nov 13, 2026
Five-year price
52w $25.89 to $70.57
- Market cap
- $12.5B
- Enterprise value
- $11.8B
- P/E
- 1548.0×
- 72.6× on 3y avg EPS
- EV / EBIT
- —
- FCF yield
- 1.0%
- ROIC
- −0.6%
- Debt / equity
- 0.12
- Piotroski F
- 5/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
33
- ○ROIC > 12% (5y avg)5y avg ROIC 5.8%
- ○ROE > 15% (5y avg)5y avg ROE 3.5%
- ○Stable operating marginsMargin volatility 10.1% (σ, 5y)
- ●Earnings convert to cashFCF / net income 392% (5y avg)
- ●Growing revenueRevenue CAGR 5y 14.4%
- ○Shrinking share countDiluted shares 9.8% over 5y
Value
25
- ○P/E below 15P/E 1548.0
- –EV/EBIT below 12EV/EBIT n/a
- ○FCF yield above 6%FCF yield 1.0%
- ○Price below Graham NumberGraham Number $3.05
- ●P/B below 3P/B 1.5
Safety
60
- ●Debt / equity below 0.5D/E 0.12
- ●Debt payable in < 4 yrs of earningsNet debt $-0.6B
- ○Interest coverage > 8xCoverage -3.8x
- ●Current ratio > 1.5Current ratio 2.84
- ○Piotroski F-score ≥ 6F-score 5/9
Graham Defensive
43
- ●Adequate size (revenue > $2B)Revenue $3.2B
- ●Strong condition (current ratio ≥ 2)Current ratio 2.84
- ●Earnings stability (no loss, 10y)10 years of data
- ○Uninterrupted dividendsDividends paid every year on record
- ○Earnings growth ≥ 33% (10y, 3y avgs)EPS growth -90%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 72.6
- ○P/E × P/B ≤ 22.5Product 108.5
Valuation lab
What do you have to believe?
At $30.96, the market is pricing in about 26.7% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt −$640M · 402M shares · 5y revenue CAGR 14.4%
Intrinsic value
$13.09
Price
$30.96
Premium paid
137%
What the price implies
The market is paying for 26.7% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
66% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 838 | 965 | 1,192 | 1,400 | 1,659 | 1,944 | 2,182 | 2,455 | 2,736 | 3,247 |
| Gross profit | 664 | 745 | 922 | 1,110 | 1,350 | 1,587 | 1,768 | 1,964 | 2,178 | 2,561 |
| Operating income | 145 | 174 | 274 | 364 | 289 | 432 | 451 | 282 | 5 | (72) |
| Operating margin | 17.3% | 18.0% | 23.0% | 26.0% | 17.4% | 22.2% | 20.7% | 11.5% | 0.2% | -2.2% |
| Pre-tax income | 137 | 165 | 284 | 391 | 271 | 404 | 487 | 502 | 210 | 30 |
| Income tax | 52 | 42 | 46 | 76 | 44 | 111 | 117 | 127 | 71 | 23 |
| Net income | 85 | 123 | 238 | 315 | 227 | 293 | 370 | 375 | 139 | 7 |
| EPS (diluted) | 2.62 | 3.66 | 6.54 | 0.86 | 0.59 | 0.74 | 0.93 | 0.92 | 0.34 | 0.02 |
| Diluted shares | 32 | 34 | 36 | 366 | 383 | 394 | 398 | 407 | 408 | 421 |
Who owns it