CoStar Group, Inc. (CSGP)
SuperavaliadaFundamental
44
Preço
$27.65
Capitalização de Mercado
$11.29B
Parte 1 · Quanto vale a empresa
Visão Geral
CoStar Group builds and sells databases of commercial and residential real estate listings, prices and property information that brokers, landlords, lenders and investors pay to access. Its main products are subscription research and analytics tools for commercial real estate professionals, marketplaces such as LoopNet where landlords and agents list space for lease or sale, and the newer Homes.com and Apartments.com consumer sites, which compete for home shoppers' attention against Zillow.
Como gera receita
Most revenue comes from recurring subscriptions that commercial real estate professionals renew year after year to keep access to CoStar's data, which makes that part of the business predictable and high-margin. Homes.com and Apartments.com instead earn money mainly from advertising paid by agents and landlords wanting more visibility, a newer and more competitive model that CoStar has been spending heavily to build into a leading consumer destination for home shoppers.
Receita por segmento
Advertising-funded marketplaces for apartment rentals and home sales, including the newer Homes.com consumer-facing search platform.
Subscription research and analytics on commercial real estate, the company's original and most profitable product line.
Online marketplace listing commercial properties for sale or lease, monetized largely through advertising from brokers and owners.
Smaller commercial real estate products including Ten-X property auctions, Matterport 3D tours and the BizBuySell business marketplace.
Vantagem competitiva
Custos de mudança · AmplaCoStar built its commercial real estate database over decades by sending researchers to physically verify property data, which is expensive and slow for a rival to replicate, and brokers who rely on it daily are reluctant to give up a tool their workflow is built around. That advantage is strongest in CoStar Suite; it does not yet extend to Homes.com, which is still fighting an established leader.
O que impulsiona a procura
Moderadamente cíclicoSubscription revenue from commercial real estate professionals is fairly sticky and holds up reasonably well through the cycle, since brokers need data whether the market is up or down. Advertising-funded residential revenue is more exposed to the health of the housing market and to how much agents and landlords are willing to spend to attract renters and buyers.
Principais riscos
- Homes.com investment losses — CoStar has been spending heavily to build Homes.com into a leading consumer destination, and management has indicated the business may not reach positive profitability for several more years.
- Competition from Zillow and Google — Homes.com and Apartments.com compete against Zillow and potentially Google for consumer attention, and restricted or more expensive access to listing data could raise CoStar's customer acquisition costs.
- Acquisition integration — CoStar has grown partly through a series of acquisitions, including Matterport and Domain, and integrating each new business carries execution risk and can strain management attention.
- Real estate market cyclicality — A slowdown in commercial or residential real estate activity would reduce the transaction volumes and advertising spend that support parts of CoStar's revenue.
Os argumentos a favor
Buyers argue that CoStar Suite and LoopNet remain a durable, high-margin data franchise that funds the company's push into residential, and that if Homes.com even partly closes the gap with Zillow, the payoff from a business already generating strong commercial cash flow could be large.
Os argumentos contra
Sellers worry that Homes.com is burning cash against an entrenched leader with no clear timeline to profitability, and that continued heavy spending there could keep consuming the profits generated by the commercial business for years without a guaranteed payoff.
Written by the editors, published on 18 de agosto de 2026
Direct competitors
Who this company fights with for the same customers
Generated on 18 de setembro de 2026 with claude-haiku-4-5 — shared with all users
Zillow's home-search and rentals portals compete head-on with CoStar's Homes.com and Apartments.com for the same US agent advertising budgets and property-manager listing fees.
Through Moody's Analytics CRE and the Reis database, it sells commercial property comparables, valuations and market forecasts to the brokers, lenders and appraisers who subscribe to CoStar Suite.
Its Real Capital Analytics transaction database and real assets indexes compete for the institutional investors and lenders who pay CoStar for commercial property analytics.
Realtor.com, the News Corp-owned portal, sells the same lead and listing-promotion subscriptions to US residential agents that CoStar is trying to win with Homes.com.
Yardi's RentCafe marketplace and Yardi Matrix research service compete for the same multifamily owners and property managers that buy Apartments.com advertising and CoStar market data.
Crexi runs a commercial property listing marketplace with paid data and intelligence tiers aimed at the same brokers CoStar serves with LoopNet and CoStar Suite.
Balanço & Liquidez
Receita
$3.56B
Últimos 12 meses (até 30/06/2026)
Resultado Líquido
$74M
Últimos 12 meses (até 30/06/2026)
Fluxo de Caixa Livre
$123M
Capital Próprio Total
$8.33B
Passivo Total
$2.17B
Rácio de Liquidez
2.21
Cobertura de Juros
3.21
Dívida/EBITDA
6.05
Resultados Por Ação
Receita & Resultado Líquido
Fluxo de Caixa Livre
Decomposição dos Resultados
Demonstração histórica
Margens ao longo do tempo
A dívida ao longo do tempo
Quanto pesa a dívida
Grelha do crescimento
Crescimento — Receitas
Estimativa de Valor Justo
Valor Justo
$18.12
Preço Atual
$27.65
Margem de Segurança
-52.6%
Intervalo de Valor Justo
$11.78 - $24.46
Dispersão entre os métodos de avaliação utilizados, não um intervalo de confiança calibrado estatisticamente.
Métodos de Estimativa
Métricas de Avaliação
Rácio P/E
137.00
ROE
0.1%
Rácio P/B
1.40
P/FCF
39.65
Margem Bruta
78.7%
ROIC
0.7%
Radar de Rentabilidade
Criação de Valor (Vantagem Competitiva)
ROIC
0.7%
WACC
8.2%
ROIC − WACC
-7.6 pp
O ROIC está abaixo do custo do capital — a empresa está a destruir valor a cada dólar investido.
Critérios de Análise Fundamental
Aprovado (12)
- Gross Margin 78.7%
- P/B Ratio 1.40
- Debt/Equity ratio
- Positive Free Cash Flow
- Current Ratio
- Interest Coverage
- Revenue Growth 5Y 14.4%
- Analyst Consensus 57% Buy
- Earnings Surprise avg 16.5%
- Earnings Quality (OCF/NI) 6.72
- Share Dilution -14.4%
- Piotroski F-Score 5/9
Reprovado (14)
- EPS shows upward trend
- EPS CAGR -21.39%
- Price CAGR 4.13%
- ROIC 0.6%
- P/FCF 39.65
- Operating Margin 2.2%
- CapEx intensity
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
- ROE 0.9%
- Net Margin Trend 2.1% vs 3.6%
Indisponível (2)
- Dividend Payout NaN%
- PEG Ratio (need PE > 0 and growth > 0)
Piotroski F-Score
Sinais mistos: algumas áreas requerem atenção
Qualidade dos Resultados
Alta qualidade: resultados respaldados por caixa
Diluição de Ações
A recomprar ações. Favorável ao acionista
Participações institucionais
Governação
Equipa Executiva
| Nome | Cargo | Idade |
|---|---|---|
| Mr. Andrew C. Florance | President, Founder, CEO & Director | 61 |
| Ms. Lisa C. Ruggles | Senior Vice President of Global Operations | 58 |
| Mr. Frank A. Simuro | Chief Technology Officer | 58 |
| Mr. Frederick G. Saint | President of Marketplaces | 59 |
| Mr. Robin Rossmann | Chief Financial Officer | 44 |
| Ms. Cyndi Eakin | CAO & Cotroller | - |
| Mr. Jason Butler | Chief Information Officer | - |
| Mr. Richard Simonelli | Head of Investor Relations | - |
| Mr. Gene Boxer | General Counsel & Corporate Secretary | 50 |
| Mr. Matthew R. Blocher | Vice President of Marketing & Communications | - |
Risco de Auditoria
2
Risco do Conselho
1
Risco de Remuneração
9
Risco dos Direitos dos Acionistas
4
Parte 2 · O preço e o momento de entrar
Esta parte não serve para saber se a empresa vale: serve para escolher quando comprá-la, depois que os fundamentos te convenceram. Dentro: análise técnica, potencial, quedas históricas, exposição gama.
Documentos
- Ver documento
Relatório anual (10-K)
Uma visão anual do negócio, dos resultados financeiros e dos riscos da empresa.
Arquivado em 2026-02-26
- Ver documento
Relatório trimestral (10-Q)
Uma atualização sobre o desempenho financeiro dos últimos três meses.
Arquivado em 2026-07-29
- Ver documento
Relatório de fato relevante (8-K)
Um aviso sobre um fato relevante, como uma mudança na liderança ou um grande anúncio.
Arquivado em 2026-08-21
via SEC EDGAR
Histórico de Resultados
via SEC EDGAR
Latest News
Recent headlines for CSGP, sourced from Markets Gazette.