CSGP
Updated: 24/09/2026, 17:57:03
CoStar Group, Inc. (CSGP) stands as a premier global provider of comprehensive information, sophisticated analytics, and dynamic online marketplace services. The company caters to professionals within the commercial real estate, hospitality, residential, and related industries, extending its reach across the United States, Canada, Europe, the Asia Pacific region, and Latin America. Its diverse suite of offerings encompasses powerful data platforms like CoStar Property, which meticulously catalogues an extensive inventory of various property types, including office, industrial, retail, multifamily, hospitality, student housing, and undeveloped land. Other key analytical tools comprise CoStar COMPS, a robust repository of comparable commercial real estate sales transactions; CoStar Market Analytics, designed for examining aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical resource providing detailed tenant information. Additionally, CoStar offers solutions for lease management, including Lease Comps and Analysis and CoStar Lease Analysis, alongside Public Record, a searchable database of commercially-zoned land parcels. Its software solutions feature CoStar Real Estate Manager, designed for comprehensive lease administration, portfolio oversight, and lease accounting compliance, as well as specialized CoStar Risk Analytics and CoStar Investment tools. Beyond its data and software platforms, CoStar operates a vast network of online marketplaces. These include prominent apartment marketing sites such as ApartmentFinder.com and ForRent.com; commercial property listing and advertising services through LoopNet (e.g., Premium Lister, Diamond, Platinum, and Gold Ads); and platforms dedicated to rural land sales like LandsofAmerica.com and LandAndFarm.com. It also facilitates the sale of operating businesses and franchises via sites like BizBuySell.com, and serves as an online auction platform for commercial real estate with Ten-X. Furthermore, CoStar supports the residential home-buying market through HomeSnap, an online and mobile software platform, and Homes.com, a comprehensive listings site for properties for sale. CoStar Group, Inc. was established in 1987 and maintains its corporate headquarters in Washington, D.C.
No summaries found.
Reported and calculated KPIs plus operational exposure disclosed in the FY 2025 filing.
Revenue
$3.2B
FY 2025 · Reported
Net income
$0.0B
FY 2025 · Reported
Gross margin
78.9%
FY 2025 · Calculated
Free cash flow
$0.1B
FY 2025 · Calculated
R&D intensity
N/A
FY — · Reported
Share repurchases
$0.5B
FY 2025 · Reported
Other offerings mentioned without separate sales
Area-level product sales are displayed only when the filing reports a product × geography breakdown. Regional totals are not allocated across products by estimation.
Map layer
Pins show disclosed operations. The heatmap colors the filing’s reported geographies; regional figures shade the region and are not estimates for each country.
Only locations and quantities explicitly supported by the filing are displayed. A country-level manufacturing percentage or product allocation is shown only when the source discloses it; materiality scores are never presented as production shares.
Company overview
Leading provider of online real estate marketplaces, information, analytics, and 3D digital twin technology in the property markets across U.S., Australia, Europe, Canada, and Asia-Pacific
“CoStar Group is a leading provider of online real estate marketplaces, information, analytics, and 3D digital twin technology in the property markets.”
Reportable segments
Two reportable segments: Commercial Real Estate and Residential Real Estate
“We operate, develop products, and deliver our services in two reportable segments, Commercial Real Estate and Residential Real Estate.”
Customer base
Real estate industry professionals and consumers; subscribers to information, analytics, and online marketplace services generate the largest portion of revenue
“Our success and revenue depend on attracting and retaining subscribers to our information, analytics, and online marketplace services, which generate the largest portion of our revenue.”
CoStar
Subscription-based commercial real estate intelligence platform (Properties, Leasing, Sales, Tenants)
“CoStar offers subscription-based access to our platform of commercial real estate intelligence with several key features”
Brand and marketplace portfolio
Marketplace brand portfolio spanning commercial listings (CoStar, LoopNet), rentals (Apartments.com), residential for-sale (Homes.com, OnTheMarket, Domain), land (Land.com), business-for-sale (BizBuySell), hotel benchmarking (STR), and 3D digital twins (Matterport)
“Apartments.com, the flagship brand of our network of apartment marketing sites, and its network of rental websites”
Revenue earned outside the U.S.
Revenue earned outside the U.S.: $350M (2025), $162M (2024), $106M (2023)
“revenue earned outside the U.S. were $350 million, $162 million, and $106 million for years ended December 31, 2025, 2024, and 2023, respectively.”
Revenue by segment and type of service, FY2023-2025
FY2025 (vs FY2024, FY2023, $M): Total revenue $3,247 ($2,736; $2,455); Commercial RE: CoStar $1,259 ($1,156; $1,096), LoopNet $312 ($282; $265), Other CRE $216 ($77; $82), Total CRE $1,787 ($1,515; $1,443); Residential RE $1,460 ($1,221; $1,012)
“CoStar $ 1,259 $ 1,156 $ 1,096”
FY2025 revenue drivers
FY2025: Revenue +$281M (+11%) to $2.7B; CRE +$72M (+5%), Residential +$209M (+21%) on more agents/properties, +$83M pricing, +$39M OnTheMarket full-year
“Revenue increased $281 million, or 11%, to $2.7 billion”
Foreign currency exposure, unhedged
Foreign currency revenue exposure with no hedging in place; USD strength reduces reported international sales and earnings
“Currently, we are not party to any hedging transactions intended to reduce our exposure to exchange rate fluctuations.”
Matterport single/limited-source hardware suppliers
Matterport depends on limited/single-source hardware component suppliers, some located in China, exposed to tariffs and supply disruption
“Matterport relies on a limited number of suppliers to supply its hardware components for its cameras and other hardware products, including in some cases only a single supplier for some products and components.”
Domain Acquisition
Acquired Domain (leading Australian property marketplace) completed August 27, 2025 at A$4.43 per share; earlier purchased ~17% stake for A$452M ($285M)
“the Company acquired approximately 17% of the ordinary shares of Domain, one of Australia's leading property marketplaces, at A$4.20 per share for a total purchase price of A$452 million ($285 million)”
Matterport Acquisition
Acquired Matterport (3D digital twin / spatial data platform) completed February 28, 2025
“On February 28, 2025, the Company completed the Matterport Acquisition”
OnTheMarket Acquisition
Acquired OnTheMarket (U.K. residential property portal) in December 2023
“an increase of $39 million from a full year's results of OnTheMarket, which was acquired in December 2023.”
Richmond, Virginia campus expansion
Richmond, VA campus expansion broke ground November 2022, substantially complete expected H1 2026; $155M additional spend obligated; estimated $275-285M Virginia tax incentives conditional on 2022-2029 targets
“As of December 31, 2025, we are obligated to spend an additional $155 million as further work is performed under these contracts.”
Proprietary database and research department
Most comprehensive commercial real estate database and largest research department in the industry; 35+ years of data compilation
“the most comprehensive proprietary database of commercial real estate information in the industry; the largest research department in the commercial real estate industry”
AI integration
Deeply integrating AI into products and internal processes to drive research efficiencies, data quality, and product development pace
“We also continue to leverage AI by deeply integrating it into our products and internal processes. AI is driving research efficiencies, improving data quality and increasing the pace of product development.”
Debt and credit facilities as of December 31, 2025
$1.0B Senior Notes (2.800%, due July 15, 2030) outstanding plus ~$1.1B undrawn under the 2024 Credit Agreement
“As of December 31, 2025, we had $1.0 billion of Senior Notes outstanding and an additional approximately $1.1 billion available to be drawn under the 2024 Credit Agreement.”
Liquidity outlook
$1.7B cash plus operating cash flow expected sufficient for next 12 months and beyond; $205M purchase obligations, $161M operating lease obligations
“we believe the balance of cash, cash equivalents, and restricted cash, which was $1.7 billion as of December 31, 2025, along with cash generated by ongoing operations and continued access to capital markets, will be sufficient to satisfy our cash requirements over the next 12 months and beyond”
Stock Repurchase Program
December 2025 Board-approved Stock Repurchase Program of up to $1.5 billion; prior $500 million program completed December 2025
“In December 2025, the Board of Directors approved a Stock Repurchase Program which authorizes, but does not obligate, the repurchase of up to $1.5 billion of CoStar Group Shares.”
Cybersecurity risk
Cyberattacks and security vulnerabilities could result in serious harm; relies on third-party cloud/SaaS providers; no material incident in past three years
“In the past three years, we have not experienced a material cybersecurity incident, but any actual or perceived cybersecurity incidents or breaches of our secu”
MLS listings and data feed dependency
Risk of losing third-party listings, MLS data feeds, or MLS access; MLS sanctions include monetary fines or terminating access to MLS data
“may face disciplinary sanctions by that MLS, which could include monetary fines, restricting, or terminating our access to that MLS’s data”
Search engine traffic dependency
Dependency on internet search engine rankings and traffic for marketplace visitation
“If our websites are not prominently featured in internet search engine results, if internet search engines integrate technologies or adopt ranking methodologies that decrease traffic to our websites, or if we are unable to maintain or increase traffic to our marketplaces, our business and operating results could be adversely affected.”
CoStar is the largest revenue line at $1,259M in FY2025, up $60M/5% on subscriber growth, inflation-based price increases, and $7M from Visual Lease.
“CoStar $ 1,259”
Matterport relies on a limited/single number of suppliers for camera hardware components with no proven reliable alternatives, so supplier interruption could halt hardware production.
“Matterport relies on a limited number of suppliers to supply its hardware components for its cameras and other hardware products, including in some cases only a single supplier for some products and components.”
LoopNet revenue of $312M in FY2025, up 6%, driven by average price per listing and number of listings.
“LoopNet 312”
Domain Acquisition (completed August 27, 2025) gives CoStar ownership of one of Australia's leading property marketplaces, expanding international revenue exposure.
“Domain, one of Australia's leading property marketplaces”
Compliance with MLS rules requires significant investment; noncompliance could result in fines or loss of MLS data access, harming traffic and business.
“If we are deemed to be noncompliant with an MLS’s rules or to have provided improper responses to or resolution of complaints, we may face disciplinary sanctions by that MLS”
Global economic uncertainties, downturns or consolidation in the real estate industry, inflation, and customer budgetary constraints can reduce demand for CoStar's services.
“Global economic uncertainties and downturns or a downturn or consolidation in the real estate industry may decrease customer demand for our services”
Some Matterport suppliers are located in China; access may be limited or impaired by tariffs introduced by the U.S. administration or other government restrictions.
“In addition, some of our suppliers are located in China. Our access to suppliers in China may be limited or impaired as a result of tariffs”
A portion of business denominated in foreign currencies is translated into U.S. dollars; strengthening USD reduces reported international sales and earnings, with no hedging in place.
“During periods of a strengthening U.S. dollar, our reported international sales and earnings could be reduced because foreign currencies may translate into fewer U.S. dollars.”
Recently introduced U.S. tariffs may impair access to China-located suppliers of Matterport hardware components.
“may be limited or impaired as a result of tariffs, including those that have been recently introduced by the current U.S. administration”
Significant costs of building the Richmond campus have impacted and will continue to impact financial condition; $155M additional obligated spend with material cash requirement expected in 2026.
“We are expanding our Richmond, Virginia campus, which is expected to result in a material cash requirement in 2026.”
OnTheMarket contributed $39 million of incremental FY2025 revenue from a full year's results, within Residential Real Estate.
“an increase of $39 million from a full year's results of OnTheMarket, which was acquired in December 2023.”
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