CoStar (CSGP)
Market Price (12/12/2025): $67.47 | Market Cap: $28.3 BilSector: Real Estate | Industry: Real Estate Services
CoStar (CSGP)
Market Price (12/12/2025): $67.47Market Cap: $28.3 BilSector: Real EstateIndustry: Real Estate Services
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 15% | Weak multi-year price returns2Y Excs Rtn is -69%, 3Y Excs Rtn is -92% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -81 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.7% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% | Expensive valuation multiplesP/SPrice/Sales ratio is 12x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 98x, P/EPrice/Earnings or Price/(Net Income) is 1745x | |
| Low stock price volatilityVol 12M is 32% | Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.3% | |
| Megatrend and thematic driversMegatrends include Smart Buildings & Proptech, E-commerce & Digital Retail, and Cloud Computing. Themes include Real Estate Data Analytics, Show more. | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.1% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 15% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Low stock price volatilityVol 12M is 32% |
| Megatrend and thematic driversMegatrends include Smart Buildings & Proptech, E-commerce & Digital Retail, and Cloud Computing. Themes include Real Estate Data Analytics, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -69%, 3Y Excs Rtn is -92% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -81 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.7% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 12x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 98x, P/EPrice/Earnings or Price/(Net Income) is 1745x |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.3% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.1% |
Valuation, Metrics & Events
CSGP Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
Below are the key points for the approximate -24.6% stock movement of CoStar (CSGP) from August 31, 2025, to December 12, 2025:
1. CoStar Group reported a net loss for the third quarter of 2025. The company announced a net loss of $31 million, translating to a net loss of $0.07 per diluted share, which fell short of analyst expectations of $0.01 EPS. This occurred despite revenue of $834 million surpassing estimates.
2. The stock's high valuation made it susceptible to significant corrections. CoStar's unusually high trailing P/E ratio, approximately 1,358.6, indicated a premium valuation. Such a high multiple makes the stock particularly sensitive to any perceived negative news or failure to meet aggressive growth expectations, contributing to a sharper decline when adverse events occur.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CSGP Return | 54% | -14% | -2% | 13% | -18% | -5% | 13% |
| Peers Return | � | � | � | � | � | � | � |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 114% |
Monthly Win Rates [3] | |||||||
| CSGP Win Rate | 67% | 33% | 33% | 50% | 33% | 33% | |
| Peers Win Rate | � | � | � | � | � | � | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| CSGP Max Drawdown | -13% | -19% | -33% | -15% | -20% | -8% | |
| Peers Max Drawdown | � | � | � | � | � | � | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: VRSK, EFX, JLL, CLBZ, GTSG. See CSGP Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/11/2025 (YTD)
How Low Can It Go
| Event | CSGP | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -46.6% | -25.4% |
| % Gain to Breakeven | 87.2% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -29.3% | -33.9% |
| % Gain to Breakeven | 41.4% | 51.3% |
| Time to Breakeven | 128 days | 148 days |
| 2018 Correction | ||
| % Loss | -28.3% | -19.8% |
| % Gain to Breakeven | 39.4% | 24.7% |
| Time to Breakeven | 68 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -60.7% | -56.8% |
| % Gain to Breakeven | 154.4% | 131.3% |
| Time to Breakeven | 750 days | 1480 days |
Compare to VRSK, EFX, JLL, CLBZ, GTSG
In The Past
CoStar's stock fell -46.6% during the 2022 Inflation Shock from a high on 10/26/2021. A -46.6% loss requires a 87.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Latest Trefis Analyses
Trade Ideas
Select past ideas related to CSGP. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 10312025 | MPW | Medical Properties Trust | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | 4.8% | 4.8% | -5.8% |
| 10172025 | VRSK | Verisk Analytics | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -7.7% | -7.7% | -10.5% |
| 08312025 | EFX | Equifax | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -12.3% | -12.3% | -16.9% |
| 03312020 | CSGP | CoStar | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 45.9% | 40.0% | -10.3% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 10312025 | MPW | Medical Properties Trust | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | 4.8% | 4.8% | -5.8% |
| 10172025 | VRSK | Verisk Analytics | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -7.7% | -7.7% | -10.5% |
| 08312025 | EFX | Equifax | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -12.3% | -12.3% | -16.9% |
| 03312020 | CSGP | CoStar | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 45.9% | 40.0% | -10.3% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for CoStar
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 218.44 |
| Mkt Cap | 27.7 |
| Rev LTM | 3,056 |
| Op Inc LTM | 1,036 |
| FCF LTM | 912 |
| FCF 3Y Avg | 643 |
| CFO LTM | 1,110 |
| CFO 3Y Avg | 947 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.9% |
| Rev Chg 3Y Avg | 9.7% |
| Rev Chg Q | 7.2% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Mgn LTM | 18.1% |
| Op Mgn 3Y Avg | 11.0% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 24.7% |
| CFO/Rev 3Y Avg | 20.1% |
| FCF/Rev LTM | 16.8% |
| FCF/Rev 3Y Avg | 8.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 27.7 |
| P/S | 8.4 |
| P/EBIT | 19.8 |
| P/E | 43.0 |
| P/CFO | 23.8 |
| Total Yield | 3.0% |
| Dividend Yield | 0.3% |
| FCF Yield 3Y Avg | 2.6% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 2.2% |
| 3M Rtn | -16.9% |
| 6M Rtn | -17.9% |
| 12M Rtn | -14.2% |
| 3Y Rtn | 17.3% |
| 1M Excs Rtn | 1.4% |
| 3M Excs Rtn | -20.4% |
| 6M Excs Rtn | -32.0% |
| 12M Excs Rtn | -29.1% |
| 3Y Excs Rtn | -56.5% |
Comparison Analyses
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/22/2025 | 6.9% | 12.2% | 3.6% |
| 4/29/2025 | -10.3% | -9.8% | -10.4% |
| 2/18/2025 | 5.0% | 2.8% | 5.2% |
| 10/22/2024 | -5.3% | -4.7% | -0.8% |
| 7/23/2024 | 2.0% | 4.9% | 1.0% |
| 2/20/2024 | 3.4% | 4.5% | 18.5% |
| 10/24/2023 | -4.4% | -1.0% | 13.1% |
| 7/25/2023 | -8.1% | -9.5% | -12.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 8 | 11 |
| # Negative | 12 | 11 | 8 |
| Median Positive | 6.9% | 7.6% | 6.2% |
| Median Negative | -4.8% | -4.9% | -11.5% |
| Max Positive | 15.7% | 17.0% | 18.5% |
| Max Negative | -15.0% | -14.7% | -22.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10292025 | 10-Q 9/30/2025 |
| 6302025 | 7232025 | 10-Q 6/30/2025 |
| 3312025 | 5012025 | 10-Q 3/31/2025 |
| 12312024 | 2202025 | 10-K 12/31/2024 |
| 9302024 | 10232024 | 10-Q 9/30/2024 |
| 6302024 | 7252024 | 10-Q 6/30/2024 |
| 3312024 | 4242024 | 10-Q 3/31/2024 |
| 12312023 | 2222024 | 10-K 12/31/2023 |
| 9302023 | 10252023 | 10-Q 9/30/2023 |
| 6302023 | 7262023 | 10-Q 6/30/2023 |
| 3312023 | 4262023 | 10-Q 3/31/2023 |
| 12312022 | 2222023 | 10-K 12/31/2022 |
| 9302022 | 10262022 | 10-Q 9/30/2022 |
| 6302022 | 7272022 | 10-Q 6/30/2022 |
| 3312022 | 4282022 | 10-Q 3/31/2022 |
| 12312021 | 2232022 | 10-K 12/31/2021 |
External Quote Links
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| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |