CoStar Group, Inc. (CSGP) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-33.7%

$21.26

vs $32.05 price

Levered DCF

$32.38

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.18

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	4,002.38×	210.56×	94.99×	83.1×	105.37×	154.05×	68.77×	51.11×
P/B	3.36×	3.85×	4.83×	4.46×	5.43×	6.55×	6.38×	4.02×
P/S	8.63×	10.63×	14.43×	14.03×	15.94×	21.21×	15.52×	10.2×
EV / EBITDA	93.64×	66.2×	48.91×	42.86×	49.17×	80.32×	46.78×	31.5×
Gross margin	75.2%	79.6%	80.0%	81.0%	81.6%	81.4%	79.3%	77.4%
Operating margin	-2.2%	0.2%	11.5%	20.7%	22.2%	17.4%	26.0%	23.0%
Net margin	0.2%	5.1%	15.3%	16.9%	15.1%	13.7%	22.5%	20.0%
Current ratio	2.84×	8.96×	12.01×	13.92×	11.78×	11.75×	5.79×	7.87×
Debt / equity	0.14×	0.14×	0.15×	0.16×	0.19×	0.21×	0.04×	0×
Interest coverage	-3.79×	0.17×	8.99×	0×	13.67×	16.63×	139.02×	96.67×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	0.1%	1.8%	5.1%	5.4%	5.1%	4.2%	9.2%	7.9%
Return on invested capital	-0.2%	0.0%	2.5%	4.2%	4.5%	3.7%	8.0%	7.3%
Return on assets	0.1%	1.5%	4.2%	4.4%	4.0%	3.3%	8.2%	7.2%
Free cash flow yield	0.1%	-0.8%	1.3%	1.4%	1.3%	1.2%	1.9%	2.5%
Earnings yield	0.0%	0.5%	1.1%	1.2%	0.9%	0.6%	1.4%	2.0%
Enterprise value	$27.4B	$25.4B	$31.3B	$26.8B	$28.3B	$32.6B	$20.8B	$11.1B
Net debt / EBITDA	-2.01×	-9.47×	-6.41×	-6.19×	-4.72×	-6.33×	-2.07×	-3.12×
Cash conversion cycle (days)	10	-6	12	1	14	22	14	19