CoStar (CSGP) financial statements
CoStar reported revenue of $3.2B in fiscal 2025, up 16.2% a year over 9 years.
Net income was $7M and the operating margin -2.2%, against 17.3% in 2016.
Free cash flow was $123M, and the company returned $500M in net buybacks.
The diluted share count rose 30% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from CoStar's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $838M | $965M | $1.2B | $1.4B | $1.7B | $1.9B | $2.2B | $2.5B | $2.7B | $3.2B |
| Cost of revenue | $174M | $220M | $270M | $289M | $309M | $357M | $414M | $491M | $558M | $686M |
| Gross profit | $664M | $745M | $922M | $1.1B | $1.4B | $1.6B | $1.8B | $2.0B | $2.2B | $2.6B |
| Selling, general and admin | $420M | $464M | $517M | $587M | $835M | $879M | $1.0B | $1.4B | $1.8B | $2.1B |
| Operating income | $145M | $174M | $274M | $364M | $289M | $432M | $451M | $282M | $5M | -$72M |
| Interest expense | $10M | $9M | $3M | $3M | $22M | $32M | $32M | $31M | $27M | $19M |
| Pre-tax income | $137M | $165M | $284M | $391M | $271M | $404M | $486M | $502M | $210M | $30M |
| Income tax | $52M | $42M | $46M | $76M | $44M | $111M | $117M | $127M | $71M | $23M |
| Net income | $85M | $123M | $238M | $315M | $227M | $293M | $370M | $375M | $139M | $7M |
| EPS (diluted) | $0.26 | $0.37 | $0.65 | $0.86 | $0.59 | $0.74 | $0.93 | $0.92 | $0.34 | $0.02 |
| Diluted shares | 324M | 336M | 364M | 366M | 383M | 394M | 398M | 407M | 408M | 421M |
| Gross margin | 79.2% | 77.2% | 77.4% | 79.3% | 81.4% | 81.6% | 81.0% | 80.0% | 79.6% | 78.9% |
| Operating margin | 17.3% | 18.0% | 23.0% | 26.0% | 17.4% | 22.2% | 20.7% | 11.5% | 0.2% | -2.2% |
| Net margin | 10.2% | 12.7% | 20.0% | 22.5% | 13.7% | 15.1% | 16.9% | 15.3% | 5.1% | 0.2% |
Balance sheet
Fiscal years, from CoStar's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $567M | $1.2B | $1.1B | $1.1B | $3.7B | $3.8B | $5.0B | $5.2B | $4.7B | $1.6B |
| Receivables | $49M | $61M | $89M | $92M | $104M | $125M | $154M | $190M | $188M | $234M |
| Inventory | — | — | — | — | — | — | — | — | — | $6M |
| Total current assets | $627M | $1.3B | $1.2B | $1.2B | $3.9B | $4.0B | $5.2B | $5.5B | $5.0B | $2.1B |
| Property, plant and equipment | $88M | $84M | $83M | $108M | $126M | $271M | $321M | $472M | $1.0B | $1.3B |
| Goodwill | $1.3B | $1.3B | $1.6B | $1.9B | $2.2B | $2.3B | $2.3B | $2.4B | $2.5B | $4.9B |
| Total assets | $2.2B | $2.9B | $3.3B | $3.9B | $6.9B | $7.3B | $8.4B | $8.9B | $9.3B | $10.5B |
| Total current liabilities | $155M | $147M | $154M | $207M | $331M | $339M | $373M | $456M | $552M | $746M |
| Long-term debt | $306M | $0 | — | $0 | $987M | $988M | $989M | $990M | $992M | $993M |
| Total liabilities | $531M | $222M | $291M | $448M | $1.5B | $1.5B | $1.5B | $1.6B | $1.7B | $2.2B |
| Shareholders' equity | $1.7B | $2.7B | $3.0B | $3.4B | $5.4B | $5.7B | $6.9B | $7.3B | $7.6B | $8.3B |
| Net debt | -$229M | -$1.2B | -$1.1B | -$1.1B | -$2.7B | -$2.8B | -$4.0B | -$4.2B | -$3.7B | -$640M |
Cash flow
Fiscal years, from CoStar's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $201M | $235M | $335M | $458M | $486M | $470M | $479M | $490M | $393M | $430M |
| Capital spending | $19M | $24M | $30M | $0 | $0 | $124M | $35M | $118M | $579M | $307M |
| Free cash flow | $182M | $210M | $306M | $458M | $486M | $346M | $444M | $372M | -$186M | $123M |
| Stock-based compensation | $36M | $39M | $41M | $52M | $53M | $64M | $75M | $85M | $89M | $194M |
| Share buybacks (net) | — | — | — | — | — | — | — | $0 | $0 | -$500M |
| Net borrowing | -$20M | -$345M | $0 | $0 | $999M | $0 | -$2M | $0 | $0 | — |
| Free cash flow margin | 21.7% | 21.8% | 25.7% | 32.7% | 29.3% | 17.8% | 20.3% | 15.2% | -6.8% | 3.8% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for CSGP.
Open CSGP in InvestinglyQuestions
What was CoStar's revenue in 2025?
$3.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does CoStar generate?
$123M in fiscal 2025 (operating cash flow minus capital spending).
From CoStar's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.