Explain this page
Arphra AIPlain-English read on CoStar Group, Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +81.62% | +81.03% | +79.98% | +79.59% | +75.24% | +76.83% | +79.19% | +77.81% | +77.86% |
| Operating margin | +22.24% | +20.67% | +11.50% | +0.17% | -2.22% | +3.18% | +3.08% | +3.18% | +3.23% |
| EBITDA margin | +29.41% | +26.98% | +15.88% | +5.54% | +8.38% | +9.83% | +9.74% | +9.74% | +9.70% |
| EBIT margin | +22.24% | +20.67% | +11.50% | +0.17% | +0.92% | +4.21% | +4.30% | +4.25% | +4.17% |
| Pre-tax margin | +20.78% | +22.29% | +20.42% | +7.68% | +0.92% | +9.63% | +9.63% | +9.65% | +9.62% |
| Net margin | +15.05% | +16.93% | +15.26% | +5.07% | +0.22% | +3.09% | +3.17% | +3.19% | +3.12% |
| Cost structure | |||||||||
| Cost of revenue / sales | +18.37% | +18.97% | +20.02% | +20.41% | +24.76% | +22.31% | +22.37% | +22.21% | +22.02% |
| R&D intensity | +10.34% | +10.12% | +10.90% | +11.89% | +12.50% | +11.87% | +11.66% | +12.02% | +12.02% |
| SG&A intensity | +45.20% | +46.87% | +55.86% | +65.91% | +64.95% | +63.48% | +61.11% | +60.53% | +62.64% |
| Effective tax rate | +27.58% | +24.05% | +25.25% | +33.98% | +76.67% | +28.91% | +29.30% | +30.15% | +29.22% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +5.12% | +5.38% | +5.11% | +1.84% | +0.08% | +1.09% | +1.12% | +1.16% | +1.16% |
| Return on assets (ROA) | +4.03% | +4.40% | +4.20% | +1.50% | +0.07% | +0.92% | +0.94% | +0.91% | +0.92% |
| Return on capital (ROC) | +6.33% | +5.65% | +3.34% | +0.05% | -0.76% | +0.99% | +0.95% | +1.01% | +1.04% |
| Return on invested capital (ROIC) | +4.29% | +4.63% | +4.43% | +1.61% | -0.57% | +0.96% | +0.98% | +1.01% | +1.01% |
| Asset turnover | +26.79% | +25.97% | +27.52% | +29.56% | +30.81% | +29.73% | +29.75% | +28.60% | +29.39% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +15.05% | +16.93% | +15.26% | +5.07% | +0.22% | +3.09% | +3.17% | +3.19% | +3.12% |
| Asset turnover (× revenue / assets) | +26.79% | +25.97% | +27.52% | +29.56% | +30.81% | +29.73% | +29.75% | +28.60% | +29.39% |
| Equity multiplier (× assets / equity) | +127.05% | +122.30% | +121.54% | +122.55% | +126.45% | +118.90% | +118.27% | +126.57% | +126.34% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.27 | 0.26 | 0.28 | 0.30 | 0.31 | 0.30 | 0.30 | 0.29 | 0.29 |
| Fixed-asset turnover | 5.22 | 5.43 | 4.45 | 2.45 | 2.25 | — | — | — | — |
| Inventory turnover | 26.71 | — | — | — | — | — | — | — | — |
| Receivables turnover | 15.58 | 14.18 | 12.54 | 14.56 | 13.88 | — | — | — | — |
| Payables turnover | 16.06 | 14.55 | 21.28 | 11.88 | 19.14 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 23.43 | 25.74 | 29.11 | 25.07 | 26.30 | — | — | — | — |
| Days inventory outstanding (DIO) | 13.67 | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | 22.73 | 25.09 | 17.15 | 30.72 | 19.07 | — | — | — | — |
| Cash conversion cycle | 14.37 | 0.65 | 11.96 | -5.65 | 7.24 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.61 | 1.30 | 1.31 | 2.83 | 61.43 | 5.04 | 5.14 | 4.87 | 5.20 |
| FCF / Net income | 1.38 | 1.14 | 1.24 | -1.77 | 5.86 | 1.24 | 1.16 | 1.17 | 1.23 |
| FCF margin | +20.81% | +19.25% | +18.91% | -8.96% | +1.26% | +3.82% | +3.67% | +3.73% | +3.82% |
| OCF margin | +24.16% | +21.93% | +19.94% | +14.35% | +13.24% | +15.55% | +16.29% | +15.54% | +16.21% |
| CapEx / Revenue | +3.35% | +2.68% | +1.03% | +23.31% | +11.98% | +11.99% | +11.75% | +11.97% | +12.46% |
| CapEx / D&A | 0.47 | 0.42 | 0.24 | 4.34 | 1.61 | — | — | — | — |
| Stock-based comp / Revenue | +3.28% | +3.45% | +3.46% | +3.25% | 0.00% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 0.74 | 0.93 | 0.92 | 0.34 | 0.02 | 1.36 | 1.78 | 2.25 | 2.96 |
| EPS · basic | 0.75 | 0.93 | 0.92 | 0.34 | 0.02 | 1.38 | 1.80 | 2.22 | 2.98 |
| Book value / share | 14.49 | 17.27 | 18.04 | 18.52 | 19.81 | 25.62 | 29.06 | 31.78 | 35.15 |
| Tangible BV / share | 7.50 | 10.62 | 11.40 | 11.26 | 3.85 | 25.62 | 29.06 | 31.78 | 35.15 |
| Sales / share | 4.93 | 5.49 | 6.03 | 6.71 | 7.72 | 9.06 | 10.23 | 11.50 | 13.05 |
| Operating CF / share | 1.19 | 1.20 | 1.20 | 0.96 | 1.02 | 1.41 | 1.67 | 1.79 | 2.12 |
| Free cash flow / share | 1.03 | 1.06 | 1.14 | -0.60 | 0.10 | 0.35 | 0.38 | 0.43 | 0.50 |
| Dividends / share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Payout ratio | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Retention ratio | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% | +100.00% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +12.26% | +12.49% | +11.45% | +18.67% | +17.09% | +12.32% | +13.14% | +13.58% | +13.85% |
| Gross profit · YoY | — | +11.44% | +11.03% | +10.91% | +12.18% | +19.56% | +15.78% | +11.16% | +13.66% | +13.18% |
| Profit | ||||||||||
| Operating income · YoY | — | +4.33% | -37.41% | -98.34% | -1631.91% | +268.07% | +8.84% | +16.75% | +15.29% | -10.54% |
| EBITDA · YoY | — | +2.98% | -33.81% | -61.11% | +79.42% | +37.38% | +11.27% | +13.22% | +13.13% | -0.89% |
| Net income · YoY | — | +26.28% | +1.41% | -62.98% | -94.95% | +1577.51% | +15.30% | +13.91% | +10.90% | -6.49% |
| Operating | ||||||||||
| EBIT · YoY | — | +4.33% | -37.41% | -98.34% | +538.30% | +433.44% | +14.62% | +12.04% | +11.26% | -7.65% |
| R&D · YoY | — | +9.90% | +21.14% | +21.56% | +24.81% | +11.12% | +10.36% | +16.61% | +13.57% | +16.01% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | +25.68% | -1.08% | -63.04% | -95.12% | +8106.63% | +30.51% | +26.30% | +31.89% | +18.93% |
| EPS · basic · YoY | — | +24.00% | -1.08% | -63.04% | -95.06% | +8085.06% | +31.00% | +23.52% | +33.79% | +18.80% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $1.11B | $1.11B | $1.11B | $1.04B | $1.14B | $1.47B | $1.69B | $1.86B | $2.23B |
| Net debt | -$2.71B | -$3.86B | -$4.11B | -$3.64B | -$589M | -$3.98B | -$4.5B | -$5.27B | -$5.71B |
| Net debt / EBITDA | -4.75 | -6.56 | -10.53 | -24.00 | -2.17 | -10.66 | -10.82 | -11.20 | -10.73 |
| Debt / equity | 0.19 | 0.16 | 0.15 | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 | 0.15 |
| Debt / assets | +15.35% | +13.16% | +12.45% | +11.26% | +10.86% | +11.49% | +11.78% | +11.03% | +11.96% |
| Equity / assets | +78.71% | +81.76% | +82.27% | +81.60% | +79.09% | +84.11% | +84.55% | +79.01% | +79.15% |
| Coverage | |||||||||
| EBITDA / interest expense | 18.08 | — | 12.41 | 5.53 | 14.32 | 10.60 | 9.95 | 10.39 | 10.08 |
| Operating income / interest | 13.67 | — | 8.99 | 0.17 | -3.79 | 3.43 | 3.15 | 3.40 | 3.35 |
| Interest expense | $31.62M | $0 | $31.4M | $27.4M | $19M | $35.26M | $41.78M | $45.29M | $52.84M |
| Liquidity | |||||||||
| Current ratio | 11.78 | 13.92 | 12.01 | 8.96 | 2.84 | — | — | — | — |
| Quick ratio | 11.67 | 13.75 | 11.87 | 8.82 | 2.64 | — | — | — | — |
| Cash ratio | 11.30 | 13.33 | 11.44 | 8.48 | 2.32 | — | — | — | — |
| Working capital | $3.65B | $4.81B | $5.02B | $4.4B | $1.37B | — | — | — | — |
| Working capital / revenue | +187.72% | +220.55% | +204.49% | +160.73% | +42.29% | — | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).