CSGPCoStar Group

Real estate · Business Services · Nasdaq

CoStar Group is a leading provider of online real estate marketplaces, information, analytics, and 3D digital twin technology in the property markets. 10-K, Item 1

Headquarters: Arlington, VA
CEO: Andrew C. Florance
Next results: around Feb 23, 2027

Compare with peers → Embed

CSGP and 9 peers, year by year

The 9 Real estate companies closest to CSGP in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

5 years 10 years Download CSV

Choose the peers

Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
CSGP CoStar Group	FY2025	$3.2B	+18.7%	78.9%	−2.2%	0.2%	3.8%	0.1%	0.02
BXP BXP, Inc.	FY2025	$3.5B	+2.2%	59.1%	-	7.9%	-	5.4%	0.15
EXR Extra Space Storage	FY2025	$3.4B	+7.1%	-	41.8%	28.8%	38.1%	7.3%	-
CCI Crown Castle	FY2025	$4.3B	+12.0%	-	48.7%	10.4%	67.4%	n/m	n/m
VICI Vici Properties	FY2025	$4.0B	+4.1%	-	-	69.3%	-	10.0%	0.60
DOC Healthpeak Properties	FY2025	$2.8B	+6.2%	-	-	2.5%	12.6%	1.0%	1.31
INVH Invitation Homes	FY2025	$2.7B	+4.2%	-	-	21.5%	-	6.2%	0.88
SBAC SBA Communications	FY2025	$2.8B	+59.9%	75.5%	47.7%	37.4%	37.9%	n/m	n/m
ARE Alexandria Real Estate Equities	FY2025	$3.0B	−2.9%	-	-	−47.2%	-	−9.2%	0.80
PSA Public Storage	FY2025	$4.8B	+2.7%	-	-	37.0%	-	19.3%	1.11

Revenuepeer median $3.4B

Sales growthpeer median +4.2%

Gross margin

CSGP 78.9%
SBAC 75.5%
BXP 59.1%
EXR -
CCI -
VICI -
DOC -
INVH -
ARE -
PSA -

Operating marginpeer median 47.7%

CCI 48.7%
SBAC 47.7%
EXR 41.8%
CSGP −2.2%
BXP -
VICI -
DOC -
INVH -
ARE -
PSA -

Net marginpeer median 21.5%

FCF marginpeer median 38.0%

CCI 67.4%
EXR 38.1%
SBAC 37.9%
DOC 12.6%
CSGP 3.8%
BXP -
VICI -
INVH -
ARE -
PSA -

Return on equitypeer median 6.2%

Debt / equitypeer median 0.84

DOC 1.31
PSA 1.11
INVH 0.88
ARE 0.80
VICI 0.60
BXP 0.15
CSGP 0.02
EXR -
CCI n/m
SBAC n/m

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2016 to FY2025

Revenue as reported in the 10-K.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CSGP Dec	$837.6M	$965.2M	$1.2B	$1.4B	$1.7B	$1.9B	$2.2B	$2.5B	$2.7B	$3.2B
BXP Dec	$2.6B	$2.6B	$2.7B	$3.0B	$2.8B	$2.9B	$3.1B	$3.3B	$3.4B	$3.5B
EXR Dec	$991.9M	$1.1B	$1.2B	$1.3B	$1.4B	$1.6B	$1.9B	$2.6B	$3.3B	$3.4B
CCI Dec	$3.9B	$4.4B	$5.4B	$5.8B	$5.8B	$6.3B	$7.0B	$4.7B	$4.5B	$4.3B
VICI Dec	-	$187.6M	$898.0M	$894.8M	$1.2B	$1.5B	$2.6B	$3.6B	$3.8B	$4.0B
DOC Dec	$2.1B	$1.8B	$1.2B	$1.2B	$1.6B	$1.9B	$2.1B	$2.2B	$2.7B	$2.8B
INVH Dec	$922.6M	$1.1B	$1.7B	$1.8B	$1.8B	$2.0B	$2.2B	$2.4B	$2.6B	$2.7B
SBAC Dec	$1.6B	$1.7B	$1.9B	$2.0B	$2.1B	$2.3B	$2.6B	$2.7B	$2.7B	$2.8B
ARE Dec	$921.7M	$1.1B	$1.3B	$1.5B	$1.9B	$2.1B	$2.6B	$2.9B	$3.1B	$3.0B
PSA Dec	$2.6B	$2.7B	$2.8B	$2.9B	$2.9B	$3.4B	$4.2B	$4.5B	$4.7B	$4.8B
Peer median	$1.9B	$1.7B	$1.7B	$1.8B	$1.9B	$2.1B	$2.6B	$2.9B	$3.3B	$3.4B

Sales growth, FY2016 to FY2025

Revenue against the fiscal year before.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CSGP Dec	+17.7%	+15.2%	+23.5%	+17.4%	+18.5%	+17.2%	+12.3%	+12.5%	+11.4%	+18.7%
BXP Dec	+2.4%	+2.0%	+4.4%	+9.0%	−6.6%	+4.4%	+7.6%	+5.3%	+4.1%	+2.2%
EXR Dec	+26.8%	−1.2%	+6.0%	+19.5%	+4.5%	+27.1%	+26.6%	+21.6%	+18.5%	+7.1%
CCI Dec	+7.0%	−0.1%	+10.2%	+16.7%	−22.4%	+19.4%	+12.2%	−35.6%	−54.4%	+12.0%
VICI Dec	-	-	+379%	−0.4%	+37.0%	+23.2%	+72.3%	+38.9%	+6.6%	+4.1%
DOC Dec	+9.7%	−13.2%	+3.9%	+0.1%	+202%	+8.0%	+5.0%	+6.6%	+7.8%	+6.2%
INVH Dec	−25.1%	+14.3%	+63.4%	+2.4%	+3.3%	+9.5%	+12.1%	+8.7%	+7.7%	+4.2%
SBAC Dec	−0.3%	+5.8%	+19.9%	+22.8%	−16.3%	+59.1%	+45.0%	−34.4%	−21.5%	+59.9%
ARE Dec	-	+22.4%	+17.7%	+15.4%	+23.1%	+12.1%	+22.5%	+11.5%	+8.0%	−2.9%
PSA Dec	+7.5%	+4.2%	+3.2%	+3.5%	+2.1%	+17.2%	+22.4%	+8.0%	+3.9%	+2.7%
Peer median	+7.0%	+3.1%	+10.2%	+9.0%	+3.3%	+17.2%	+22.4%	+8.0%	+6.6%	+4.2%

Gross margin, FY2016 to FY2025

Gross profit / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CSGP Dec	79.2%	77.2%	77.4%	79.3%	81.4%	81.6%	81.0%	80.0%	79.6%	78.9%
BXP Dec	-	61.7%	60.7%	61.7%	61.3%	62.8%	62.1%	61.1%	59.9%	59.1%
EXR Dec	-	-	-	-	-	-	-	-	-	-
CCI Dec	-	-	-	-	-	-	-	-	-	-
VICI Dec	-	-	-	-	-	-	-	-	-	-
DOC Dec	-	-	-	-	-	-	-	-	-	-
INVH Dec	-	-	-	-	-	-	-	-	-	-
SBAC Dec	74.2%	74.2%	74.9%	75.5%	77.1%	76.4%	74.6%	77.4%	78.3%	75.5%
ARE Dec	-	-	-	-	-	-	-	-	-	-
PSA Dec	73.9%	73.5%	73.0%	-	-	-	-	-	-	-
Peer median	-	73.5%	73.0%	-	-	-	-	-	-	-

Operating margin, FY2016 to FY2025

Operating income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CSGP Dec	17.3%	18.0%	23.0%	26.0%	17.4%	22.2%	20.7%	11.5%	0.2%	−2.2%
BXP Dec	32.4%	34.9%	-	-	-	-	-	-	-	-
EXR Dec	46.2%	59.2%	51.8%	48.5%	49.1%	61.9%	54.6%	45.7%	40.6%	41.8%
CCI Dec	24.2%	22.2%	25.8%	27.1%	31.9%	31.6%	34.7%	44.3%	47.5%	48.7%
VICI Dec	-	76.9%	15.6%	5.8%	26.2%	-	-	-	-	-
DOC Dec	-	-	-	-	-	-	-	-	-	-
INVH Dec	20.7%	11.2%	-	-	-	-	-	-	-	-
SBAC Dec	23.7%	26.5%	29.2%	29.0%	30.4%	33.9%	35.1%	34.1%	53.6%	47.7%
ARE Dec	-	-	-	-	-	-	-	-	-	-
PSA Dec	53.7%	53.3%	-	-	-	-	-	-	-	-
Peer median	28.3%	34.9%	27.5%	28.0%	31.2%	33.9%	35.1%	44.3%	47.5%	47.7%

Net margin, FY2016 to FY2025

Net income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CSGP Dec	10.2%	12.7%	20.0%	22.5%	13.7%	15.1%	16.9%	15.3%	5.1%	0.2%
BXP Dec	20.1%	17.8%	21.5%	17.6%	31.6%	17.5%	27.3%	5.8%	0.4%	7.9%
EXR Dec	36.9%	43.3%	34.7%	32.1%	35.5%	52.5%	44.7%	31.4%	26.2%	28.8%
CCI Dec	9.1%	10.2%	9.5%	13.0%	17.1%	17.3%	24.0%	31.7%	−87.5%	10.4%
VICI Dec	-	23.7%	58.3%	61.0%	72.8%	67.2%	43.0%	69.6%	69.6%	69.3%
DOC Dec	29.5%	22.4%	89.1%	3.7%	25.1%	26.7%	24.3%	14.0%	9.0%	2.5%
INVH Dec	−8.5%	−10.0%	−0.3%	8.2%	10.8%	13.1%	17.1%	21.4%	17.3%	21.5%
SBAC Dec	4.7%	6.0%	2.5%	7.3%	1.2%	10.3%	17.5%	18.5%	28.0%	37.4%
ARE Dec	−7.1%	15.0%	28.6%	23.7%	40.9%	27.0%	20.1%	3.6%	10.4%	−47.2%
PSA Dec	56.8%	54.0%	62.0%	53.3%	46.6%	57.2%	104.0%	47.6%	44.1%	37.0%
Peer median	14.6%	17.8%	28.6%	17.6%	31.6%	26.7%	24.3%	21.4%	17.3%	21.5%

Free cash flow, FY2016 to FY2025

Cash from operations minus capital spending.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CSGP Dec	$181.9M	$210.2M	$305.8M	$457.8M	$486.1M	$346.0M	$443.5M	$372.0M	−$186.0M	$123.0M
BXP Dec	-	-	-	-	-	-	-	-	-	-
EXR Dec	-	-	-	-	-	-	$44.9M	$1.3B	$1.4B	$1.3B
CCI Dec	$913.0M	$3.2B	$761.0M	$641.0M	$1.4B	$1.6B	$1.6B	$2.9B	$2.8B	$2.9B
VICI Dec	-	-	$503.2M	$679.4M	-	-	-	-	-	-
DOC Dec	$755.2M	$375.3M	$287.8M	$168.8M	−$30.5M	$35.5M	−$61.7M	$181.7M	$333.7M	$357.0M
INVH Dec	$252.2M	$258.9M	$557.2M	-	-	-	-	-	-	-
SBAC Dec	$602.5M	$671.4M	$700.8M	$815.8M	$997.5M	$1.1B	$1.1B	$1.3B	$1.1B	$1.1B
ARE Dec	-	-	-	-	-	-	-	-	-	-
PSA Dec	-	-	-	-	-	-	-	-	-	-
Peer median	$678.9M	$523.3M	$557.2M	$660.2M	$997.5M	$1.1B	$558.1M	$1.3B	$1.3B	$1.2B

FCF margin, FY2016 to FY2025

Free cash flow / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CSGP Dec	21.7%	21.8%	25.7%	32.7%	29.3%	17.8%	20.3%	15.2%	−6.8%	3.8%
BXP Dec	-	-	-	-	-	-	-	-	-	-
EXR Dec	-	-	-	-	-	-	2.3%	49.5%	43.2%	38.1%
CCI Dec	23.3%	74.6%	14.2%	11.1%	24.5%	24.6%	22.4%	60.9%	62.0%	67.4%
VICI Dec	-	-	56.0%	75.9%	-	-	-	-	-	-
DOC Dec	35.5%	20.3%	24.2%	13.6%	−1.9%	1.9%	−3.0%	8.3%	12.4%	12.6%
INVH Dec	27.3%	24.6%	32.3%	-	-	-	-	-	-	-
SBAC Dec	36.9%	38.9%	37.6%	40.5%	47.9%	45.7%	40.7%	48.2%	41.3%	37.9%
ARE Dec	-	-	-	-	-	-	-	-	-	-
PSA Dec	-	-	-	-	-	-	-	-	-	-
Peer median	31.4%	31.7%	32.3%	27.1%	24.5%	24.6%	12.4%	48.9%	42.3%	38.0%

Return on equity, FY2016 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CSGP Dec	5.1%	4.6%	7.9%	9.2%	4.2%	5.1%	5.4%	5.1%	1.8%	0.1%
BXP Dec	8.9%	8.0%	9.9%	9.2%	14.6%	8.7%	13.8%	3.2%	0.3%	5.4%
EXR Dec	16.3%	20.4%	17.2%	16.5%	18.9%	26.6%	26.4%	5.6%	6.1%	7.3%
CCI Dec	4.9%	3.7%	4.4%	7.1%	10.6%	13.3%	22.5%	23.5%	n/m	n/m
VICI Dec	-	0.9%	7.7%	6.9%	9.5%	8.4%	5.1%	10.0%	10.1%	10.0%
DOC Dec	11.3%	7.8%	17.9%	0.7%	6.1%	7.8%	7.5%	4.8%	2.9%	1.0%
INVH Dec	−4.0%	−1.2%	−0.1%	1.8%	2.3%	2.7%	3.7%	5.1%	4.7%	6.2%
SBAC Dec	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m
ARE Dec	−1.3%	2.8%	5.2%	4.1%	6.6%	3.5%	2.7%	0.6%	1.8%	−9.2%
PSA Dec	15.4%	16.1%	18.8%	16.8%	15.9%	20.9%	43.2%	21.5%	21.3%	19.3%
Peer median	8.9%	5.8%	8.8%	7.0%	10.0%	8.5%	10.7%	5.3%	4.7%	6.2%

Debt / equity, FY2016 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CSGP Dec	0.20	0.00	0.00	0.00	0.19	0.18	0.15	0.14	0.13	0.02
BXP Dec	0.35	0.52	0.51	0.52	0.49	0.57	-	0.00	0.09	0.15
EXR Dec	-	0.26	-	-	-	-	-	-	0.04	-
CCI Dec	1.70	1.36	1.45	1.74	2.05	2.51	3.03	3.72	n/m	n/m
VICI Dec	-	0.88	0.60	0.60	0.72	0.39	0.63	0.66	0.63	0.60
DOC Dec	1.64	1.47	0.92	1.04	0.98	0.95	0.98	1.08	1.04	1.31
INVH Dec	-	1.14	1.12	1.03	0.94	0.82	0.75	0.84	0.84	0.88
SBAC Dec	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m
ARE Dec	0.85	0.80	0.75	0.76	0.65	0.54	0.54	0.61	0.68	0.80
PSA Dec	0.04	0.16	0.15	0.21	0.30	0.80	0.68	0.91	0.96	1.11
Peer median	0.85	0.84	0.75	0.76	0.72	0.80	0.72	0.84	0.68	0.84

EPS (diluted), FY2016 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
CSGP Dec	$0.26	$0.37	$0.65	$0.86	$0.59	$0.74	$0.93	$0.92	$0.34	$0.02
BXP Dec	$3.26	$2.93	$3.70	$3.30	$5.54	$3.17	$5.40	$1.21	$0.09	$1.74
EXR Dec	$2.91	$3.76	$3.27	$3.24	$3.71	$6.19	$6.41	$4.74	$4.03	$4.59
CCI Dec	$0.95	$0.80	$1.23	$1.79	$2.35	$2.53	$3.86	$3.46	−$8.98	$1.01
VICI Dec	-	-	$1.43	$1.24	$1.75	$1.76	$1.27	$2.47	$2.56	$2.61
DOC Dec	$1.34	$0.88	$2.24	$0.09	$0.77	$0.93	$0.92	$0.56	$0.36	$0.10
INVH Dec	-	-	−$0.01	$0.27	$0.35	$0.45	$0.63	$0.85	$0.74	$0.96
SBAC Dec	$0.61	$0.86	$0.41	$1.28	$0.21	$2.14	$4.22	$4.61	$6.94	$9.80
ARE Dec	−$1.99	$1.58	$3.52	$3.12	$6.01	$3.82	$3.18	$0.54	$1.80	−$8.44
PSA Dec	$6.81	$6.73	$8.54	$7.29	$6.29	$9.87	$23.50	$11.06	$10.64	$9.01
Peer median	$1.34	$1.58	$2.24	$1.79	$2.35	$2.53	$3.86	$2.47	$1.80	$1.74

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out CSGP and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

Work on CSGP in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/CSGP/export.csv") into a cell.