Costar Group
CSGP on Nasdaq. Costar Group sells real estate data and software to property professionals, investors, and agents. Market value $11.2bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Good business, but not cheap right now
Why it could be worth it
What to watch out for
See cheaper Real estate stocks on the list
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $2.50 of spare cash in the past 12 months. A savings account pays about $4.
You pay 142.1 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 7 cents a year. Above 10 is good.
Quality score: 80 of 100. Price score: 17 of 100. Our list needs 70 on quality and 60 on price.
$27.63 a share, 7% above its 1-year low
Over the past year the price has ranged from $25.89 to $81.45.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $280 million in the past 12 months, $123 million in the year to December 2025.
| Revenue | |||||
| Revenue | $1.9bn | $2.2bn | $2.5bn | $2.7bn | $3.2bn |
| Operating margin | |||||
| Operating margin | 22.2% | 20.7% | 11.5% | 0.2% | -2.2% |
| Debt to equity | |||||
| Debt to equity | 0.18 | 0.15 | 0.14 | 0.13 | 0.12 |
| Shares outstanding | |||||
| Shares outstanding | 0.41bn | 0.41bn | 0.41bn | 0.42bn | 0.41bn |
Health checks
- Free cash flow positive4 of 5 years
- Accounting looks honest (Beneish)Watch
- Financial strength (Piotroski)6 of 9
- Profit backed by cash (accruals)Yes
- Debt0.12× equity
- Revenue growth, five yearsStrong, 14.4% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $925 million last quarter, up 18% on a year ago.
- Profit: $55 million, up 817% on a year ago.
- It keeps 2 cents of each $1 of sales as operating profit, up from 0 cents a year earlier.
- Spare cash over the past 12 months: $280 million, up from $93 million.
- 5% fewer shares than a year ago. Each share owns a bit more of the company.
- It has $257 million more cash than debt, down from $2.6 billion a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $693m |
| December 2024 | $709m |
| March 2025 | $732m |
| June 2025 | $781m |
| September 2025 | $834m |
| December 2025 | $900m |
| March 2026 | $897m |
| June 2026 | $925m |
| Quarter to | Amount |
|---|---|
| September 2024 | $53m |
| December 2024 | $60m |
| March 2025 | -$15m |
| June 2025 | $6m |
| September 2025 | -$31m |
| December 2025 | $47m |
| March 2026 | $3m |
| June 2026 | $55m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 27 October 2026
- Last annual report (10-K)
- 26 February 2026
- Next quarterly (estimated, 10-Q)
- 28 October 2026
Who owns it
8 long-term investors we follow own it, down from 9 last quarter. 757 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Akre Capital ManagementChuck Akre | $331m | 6.5% | Added |
| Polen CapitalDan Davidowitz | $248m | 2.1% | Cut |
| EdgePoint Investment GroupTye Bousada | $169m | 1.3% | New |
| Gotham Asset ManagementJoel Greenblatt | $18m | <0.1% | Added |
| Weitz Investment ManagementWally Weitz | $12m | 0.8% | Cut |
| Platinum Investment ManagementPlatinum team | $1m | 0.3% | Cut |
| GMOJeremy Grantham | $695,652 | <0.1% | New |
| Hillman Capital ManagementMark Hillman | $304,298 | 0.2% | Added |
Sold out this quarter
- Corvex ManagementKeith MeisterSold out
- Select Equity GroupGeorge LoeningSold out
- ShawSpring PartnersDennis HongSold out
Largest holders overall
- Vanguard Portfolio Management$1.1bn
- BlackRock$958m
- Vanguard Capital Management$756mCut
- Bamco$612mAdded
- Banque Cantonale Vaudoise$554mAdded
- State Street$521m
- Capital International Investors$471mAdded
- Baillie Gifford$373mCut
- Geode Capital Management$343mCut
- Akre Capital Management$331mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- Vanguard Portfolio ManagementPassive investor9.1%Since 31 March 2026
- Vanguard Capital ManagementPassive investor7.5%Since 31 March 2026
- BlackRock, Inc.Passive investor7.5%Since 31 March 2025
- Baron Capital Group, Inc.Passive investorat least 5.3%(filed with 3 related holders)Since 30 June 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Vanguard Portfolio Management Passive investor | 9.1% | 31 March 2026 | |
Vanguard Capital Management Passive investor | 7.5% | 31 March 2026 | |
BlackRock, Inc. Passive investor | 7.5% | 31 March 2025 | |
Baron Capital Group, Inc. Passive investor | at least 5.3% (filed with 3 related holders) | 30 June 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 4 insiders bought $8m of shares on the open market. 2 sold $534,282.
- Cann Cynthia CammettChief Accounting OfficerSold
- Date
- 7 August 2026
- Shares
- 4,788
- Price
- $30.78
- Value
- $147,375
- Hill John WDirectorSold
- Date
- 5 August 2026
- Shares
- 3,500
- Price
- $30.21
- Value
- $105,735
- FLORANCE ANDREW CFounder and CEO, DirectorBought
- Date
- 4 August 2026
- Shares
- 83,300
- Price
- $29.89
- Value
- $2m
- FLORANCE ANDREW CPresident and CEO, DirectorBought
- Date
- 1 May 2026
- Shares
- 71,430
- Price
- $35.20
- Value
- $3m
- Sams Louise SDirectorBought
- Date
- 6 March 2026
- Shares
- 1,000
- Price
- $48.36
- Value
- $48,360
- SAINT FREDERICK G.President, MarketplacesBought
- Date
- 2 March 2026
- Shares
- 20,000
- Price
- $45.33
- Value
- $906,600
- Glaser Rachel CDirectorBought
- Date
- 2 March 2026
- Shares
- 1,000
- Price
- $44.94
- Value
- $44,940
- FLORANCE ANDREW CPresident and CEO, DirectorBought
- Date
- 27 February 2026
- Shares
- 55,720
- Price
- $44.52
- Value
- $2m
- Hill John WDirectorSold
- Date
- 13 November 2025
- Shares
- 2,250
- Price
- $68.68
- Value
- $154,530
- Cann Cynthia CammettChief Accounting OfficerSold
- Date
- 13 November 2025
- Shares
- 1,841
- Price
- $68.79
- Value
- $126,642
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 7 August 2026 | Cann Cynthia Cammett Chief Accounting Officer | Sold | 4,788 | $30.78 | $147,375 |
| 5 August 2026 | Hill John W Director | Sold | 3,500 | $30.21 | $105,735 |
| 4 August 2026 | FLORANCE ANDREW C Founder and CEO, Director | Bought | 83,300 | $29.89 | $2m |
| 1 May 2026 | FLORANCE ANDREW C President and CEO, Director | Bought | 71,430 | $35.20 | $3m |
| 6 March 2026 | Sams Louise S Director | Bought | 1,000 | $48.36 | $48,360 |
| 2 March 2026 | SAINT FREDERICK G. President, Marketplaces | Bought | 20,000 | $45.33 | $906,600 |
| 2 March 2026 | Glaser Rachel C Director | Bought | 1,000 | $44.94 | $44,940 |
| 27 February 2026 | FLORANCE ANDREW C President and CEO, Director | Bought | 55,720 | $44.52 | $2m |
| 13 November 2025 | Hill John W Director | Sold | 2,250 | $68.68 | $154,530 |
| 13 November 2025 | Cann Cynthia Cammett Chief Accounting Officer | Sold | 1,841 | $68.79 | $126,642 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 26 Feb 2026, plus the 10-Q filed 29 Jul 2026 and 7 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It isn't cheap on profits: 142.1× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.