CoStar Group, Inc.
CSGP 6Price and target zones价格与目标区间
In the buy zone在买入区间内
What the company does公司做什么
CoStar Group, Inc. provides information, analytics, and online marketplace services to real estate and related business communities in the United States, Australia, Canada, Europe, the Asia Pacific, and Latin America. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing, and land properties; CoStar Leasing, a data on lease transactions and tools to manage user-entered lease data; CoStar Sales, a database of commercial real estate sales transactions; CoStar Owners provides detailed portfolio information; CoStar Markets to view and report on market and submarket trends; and CoStar Tenant that provides tenant information.
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CoStar Group, Inc. provides information, analytics, and online marketplace services to real estate and related business communities in the United States, Australia, Canada, Europe, the Asia Pacific, and Latin America. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing, and land properties; CoStar Leasing, a data on lease transactions and tools to manage user-entered lease data; CoStar Sales, a database of commercial real estate sales transactions; CoStar Owners provides detailed portfolio information; CoStar Markets to view and report on market and submarket trends; and CoStar Tenant that provides tenant information. The company also provides hospitality benchmarking that allows hotels to measure performance against competitors; Debt Solutions, a tool for lenders to manage loan portfolios and risk; and real estate and lease management technology solutions, such as lease administration, lease accounting, and transaction management services. In addition, it offers Apartamentos.com, an apartment marketing sites; LoopNet.com, a commercial property marketing sites; Homes.com, a home for sale listings site; Ten-X, an online auction platform for commercial real estate; Land.com, a marketplace for rural land sales; and BizBuySell.com, a marketplace for operating businesses and franchises for sale. It serves sales, leasing, and mortgage brokers; property, real estate investment trust, insurance companies, and asset managers; and government agencies, property owners, mortgage-backed security issuers, appraisers, design and construction professionals, pension fund managers, real estate developers, reporters tenant vendors, bankers, building services vendors, mortgage bankers, communications providers, retailers, institutional advisors, hospitality owners, investors, and real estate agents. The company was founded in 1986 and is headquartered in Arlington, Virginia.
Products and services产品与服务 from the vendor summary — not yet written up来自供应商简介——尚未整理成文
- The company also provides hospitality benchmarking that allows hotels to measure performance against competitors
- Debt Solutions, a tool for lenders to manage loan portfolios and risk
- Real estate and lease management technology solutions, such as lease administration, lease accounting, and transaction management services In addition, it offers Apartamentos.com, an apartment marketing sites
- LoopNet.com, a commercial property marketing sites
- Homes.com, a home for sale listings site
- Ten-X, an online auction platform for commercial real estate
- Land.com, a marketplace for rural land sales
- BizBuySell.com, a marketplace for operating businesses and franchises for sale It serves sales, leasing, and mortgage brokers
- Property, real estate investment trust, insurance companies, and asset managers
Company facts公司资料
- Founded成立时间
- 1986
- Headquarters总部
- Arlington, Virginia
- Employees员工人数
- 8,441
- Industry行业
- Real Estate Services
- Country国家
- United States
Investment thesis投资逻辑 from the watchlist来自关注列表
Red flags
- Zillow has 7x the residential traffic — the structural question (real test: Homes.com EBITDA+ by 2030)
Would upgrade on
- ANALYZED 9/10 — ACCUMULATE, IN ZONE (bear-SOTP floor). CRE-data monopoly; the Homes.com spend is proven discretionary (Residential's first profitable quarter). FV $27-48 (~$36 base), entry $27-33. Trim 28x fwd.
🟢 9/10 分析——增持，处于入场区间内（空头分部估值给出的底部）。 商业地产数据业务近乎垄断；Homes.com 的投入已被证明是可自由支配的（住宅业务录得首个盈利季度）。 公允价值 $27-48（基准约 $36），入场 $27-33。 减持 28x fwd。 🚩 Zillow 的住宅流量是其 7 倍——这是结构性的疑问（真正的检验是 Homes.com 到 2030 年能否实现 EBITDA 转正）。
Historical results历史业绩 past fiscal years — these values do not change过去财年——这些数值不会变动
Profit margins利润率 the share of revenue that stays as profit营收中留存为利润的比例
of every $1 of revenue每 $1 营收中的占比
- Return on equity净资产收益率
- 1%
- Revenue growth营收增长
- +18%
Competitive advantages竞争优势 from the thesis and the reports来自投资逻辑和报告
- CRE-data monopoly; the Homes.com spend is proven discretionary (Residential's first profitable quarter).
- Knowledge base check: python .mcp/kb.py find CSGP and find "data monopoly" returned no matches — nothing previously distilled on this name or field.
- Gross margin has drifted down ~2.4pp in three years (mix-shift toward lower-margin residential, not core-CRE compression — see Moat).
- Phase 2 — Moat Analyst Quantitative base - Gross margin ~79% , essentially stable (down only ~2.4pp in 3 years, attributable to residential mix, not core erosion).
- "61 consecutive quarters of double-digit revenue growth" (company disclosure, Q2 2026) is the single best piece of quantitative moat evidence in this report — a 15+ year unbroken record survives multiple recessions, rate cycles, and the entire post-2022 CRE downturn.