Company file · CSGP
CoStar Group
CoStar Group's revenue rose 18.7% in FY2025, to $3.2B, and net income fell 95.0% to $7M
Revenue rose 18.7% to $3.2B in FY2025, from $2.7B in FY2024. Net income fell 95.0% to $7M. Commercial Real Estate was the largest segment, at 55% of revenue.
Key facts
In fiscal 2025, which ended Dec 31, 2025, CoStar Group (Nasdaq: CSGP) took in $3.2B of revenue (up 18.7% on fiscal 2024); net income was $7M (down 95.0%). The most recent quarter, ended Sep 30, 2026, brought revenue of $952M, up 14.1% year over year, with net income of $74M. Commercial Real Estate was the biggest single line by segment: 55% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 26, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Oct 28, 2026).
Source: 10-K FY2025, filed Feb 26, 2026
Source: 10-Q filed Apr 29, 2026 · 10-Q filed Jul 29, 2026 · 10-Q filed Oct 28, 2026
How it makes money
By segment, FY2025
Source: 10-K FY2025, XBRL breakdown
By segment in FY2025: Commercial Real Estate (55%) and Residential Real Estate (45%), as shares of total revenue. Total revenue was $3.2B.
Source: 10-K FY2025
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 2026Q3 2025
Company
A hatched bar is a loss, drawn by its size. The % change isn't shown when either quarter is a loss.
Source: CoStar Group 10-Q for the quarter ended Sep 30, 2026, filed Oct 28, 2026
By segment
Source: CoStar Group 10-Q for the quarter ended Sep 30, 2026, filed Oct 28, 2026
The bull case and the bear case
The bull case
- Revenue rose 18.7% in FY2025 to $3.2B, from $2.7B a year earlier. 10-K, FY2025
- Operating cash flow rose 9.4% in FY2025 to $430M. 10-K, FY2025
- Revenue in the quarter ended Sep 30, 2026 was $952M, up 14.1% on a year earlier. 10-Q, quarter ended Sep 30, 2026
- Residential Real Estate revenue grew 19.6% in FY2025 to $1.5B. 10-K, FY2025
The bear case
- Net income fell 95.0% in FY2025 to $7M, from $139M. 10-K, FY2025
- Diluted shares rose 3.2% in FY2025, which spreads profit across more shares. 10-K, FY2025
- The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include interest rates; occupancy and rents; property markets. 10-K, Item 1A
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
CoStar Group is in the real estate services industry, part of the real estate sector. The SEC files it under Services-Business Services, Nec.
CoStar Group reports 2 segments: Commercial Real Estate and Residential Real Estate.
Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the real estate services industry. They are not a summary of CoStar Group’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- Interest ratesHigher rates raise borrowing costs and can lower property values.
- Occupancy and rentsVacancies, tenant defaults and weaker rents reduce income.
- Property marketsLocal supply, demand and values vary by market and property type.
- Capital and developmentAcquisitions and developments need financing and may not earn what was planned.
- Regulation and taxesProperty, zoning and tax rules, including the rules for REIT status, affect results.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $2.5B | $2.7B | $3.2B |
| Net income | $375M | $139M | $7M |
| Operating cash flow | $490M | $393M | $430M |
| Cash & equivalents (year end) | $5.2B | $4.7B | $1.6B |
| Total debt (year end) | $990M | $992M | $993M |
| Diluted shares | 407M | 408M | 421M |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Total debt: Long-term debt, at carrying value.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- Segment reporting
- Net debt and net cash
- Debt-to-equity ratio
- The cash flow statement
- Risk factors (Item 1A)
- Property, plant and equipment
- Ex-dividend and record dates
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Oct 28, 2026 | Sep 30, 2026 |
| 10-Q | Jul 29, 2026 | Jun 30, 2026 |
| DEF 14A | Apr 30, 2026 | Jun 23, 2026 |
| 10-Q | Apr 29, 2026 | Mar 31, 2026 |
| 10-K | Feb 26, 2026 | Dec 31, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about CoStar Group
How does CoStar Group make money?
In fiscal 2025, revenue totaled $3.2B. By segment in FY2025: Commercial Real Estate (55%) and Residential Real Estate (45%), as shares of total revenue. Total revenue was $3.2B. Source: 10-K for fiscal 2025, filed Feb 26, 2026.
What was CoStar Group's revenue in fiscal 2025?
Revenue came to $3.2B in the year ended Dec 31, 2025. Going back two years, it was $2.5B in fiscal 2023 and $2.7B in fiscal 2024, so the latest year was up 18.7%. Source: 10-K for fiscal 2025, filed Feb 26, 2026.
Is CoStar Group profitable?
Yes, by US accounting rules (GAAP): net income was $7M in fiscal 2025, down 95.0% from $139M a year earlier. For the quarter ended Sep 30, 2026, net income was $74M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 26, 2026.
What did CoStar Group report in its latest quarterly filing?
The 10-Q for the quarter ended Sep 30, 2026 shows revenue of $952M, against $834M in the same quarter a year before (up 14.1%), and net income of $74M, against −$31M (compared with −$31M). Source: 10-Q for the quarter ended Sep 30, 2026, filed Oct 28, 2026.
How much cash and debt does CoStar Group have?
On Sep 30, 2026, cash and cash equivalents stood at $500M and total debt at $994M. Total debt here is long-term debt, at carrying value. Source: 10-Q filed Oct 28, 2026.
What are the main risks CoStar Group faces?
CoStar Group's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 26, 2026. Risks that are common among companies in the real estate services industry include Interest rates; occupancy and rents; property markets; capital and development; regulation and taxes. The first: Higher rates raise borrowing costs and can lower property values. Source: 10-K, Item 1A Risk Factors.
Where do these CoStar Group numbers come from?
Two filings CoStar Group made with the SEC: its fiscal 2025 10-K, filed Feb 26, 2026, and its 10-Q for the quarter ended Sep 30, 2026, filed Oct 28, 2026. The figures are taken from the XBRL data the SEC publishes, and every one links back to its source. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning CoStar Group
- Akre Capital Management: 11,699,396 shares, reported value $331.3M at Jun 30, 2026 (+13.1% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Baillie Gifford: 11,383,303 shares, reported value $311.9M at Sep 30, 2026 (−13.5% in shares since the filing for Jun 30, 2026). Form 13F filed Nov 9, 2026.
- Polen Capital Management: 8,759,314 shares, reported value $248.1M at Jun 30, 2026 (−30.3% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 4, 2026.
- Two Sigma Investments: 1,104,950 shares, reported value $31.3M at Jun 30, 2026 (+264.7% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Millennium Management: 746,995 shares, reported value $21.2M at Jun 30, 2026 (+504.4% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Citadel Advisors: 741,898 shares, reported value $21.0M at Jun 30, 2026 (−31.8% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
- Point72 Asset Management: 130,616 shares, reported value $3.7M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in CSGP
- The editor holds no position in CoStar Group (CSGP). As of Nov 11, 2026.
- Trading rule
- The editor does not buy or sell CSGP from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 10, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold CSGP, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| CoStar GroupCSGP | FY2025 | $3.2B | +18.7% | $7M |
| CBRE GroupCBRE | FY2025 | $40.5B | +13.4% | $1.2B |
| WelltowerWELL | FY2025 | $10.8B | +35.6% | $962M |
| PrologisPLD | FY2025 | $8.8B | +7.2% | $3.3B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.