COSTAR GROUP, INC（CSGP）の決算・業績分析
COSTAR GROUP, INCの2025年有価証券報告書をAI分析。売上高$3.2B(+18.7%)。営業利益-$72M。Industrials。
目次
COSTAR GROUP, INCの2025年度 業績サマリー
COSTAR GROUP, INC（証券コード: CSGP）の2025年度決算・業績分析。売上高は$3.2B（前年比+18.7%）。営業利益は-$72M（前年比-1631.9%）。純利益は$7M（前年比-95.0%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
COSTAR GROUP, INCの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 12.3% YoY to $2.2B (XBRL), driven by the Visual Lease Acquisition and Land.com/BizBuySell Network (10-K).
- Net income surged 26.3% YoY to $370M (XBRL), supported by strong profitability metrics (81.0% gross margin, 16.9% net margin).
- Liquidity remains robust with $5.2B in cash (XBRL) and net debt of -$4.2B (-7.2x EBITDA).
COSTAR GROUP, INCの売上高変化の要因
- •Total revenue reached $2.2B (+12.3% YoY) (XBRL), with growth driven by the Visual Lease Acquisition (Information Services) and increased Land.com/BizBuySell Network revenues (Other Marketplaces) (10-K). CoStar's growth is expected to decelerate due to legacy customer conversion challenges (10-K). The 5-year revenue CAGR is 15.5% (XBRL). Segment-specific revenue figures are not disclosed (N/A).
COSTAR GROUP, INCの営業利益変化の要因
- •Gross profit was $1.8B (81.0% gross margin) (XBRL), with operating income rising 4.3% YoY to $451M (20.7% operating margin). Net income grew 26.3% YoY to $370M (16.9% net margin). Operating profitability was supported by the Visual Lease Acquisition and sales force reallocation (10-K).
COSTAR GROUP, INCの事業リスクと対応
Inability to attract/retain clients could harm revenues (10-K).
Failure to innovate services may reduce profitability (10-K).
Intense competition threatens market position (10-K).
Economic downturns and real estate industry shifts risk demand (10-K).
Matterport acquisition risks (e.g., regulatory delays) could impact operations (10-K).
Non-compliance with privacy laws, tax policy changes, and legal liabilities from data practices (10-K).
COSTAR GROUP, INCの今後の見通し・業績予想
COSTAR GROUP, INCの事業内容
Costar Group, Inc. operates online marketplaces and provides real estate information, analytics, and marketing services (10-K), generating revenue through subscriptions, advertising, and transaction-based fees. Key products include CoStar (commercial real estate data), Apartments.com, LoopNet, Homes.com, STR (hospitality data), Ten-X (auctions), and OnTheMarket (U.K. residential portal). The company positions itself as a leader with a comprehensive proprietary database, largest research department, and standardized platform as key competitive advantages (10-K). No significant customer concentration is reported (10-K).
COSTAR GROUP, INCのAI業績分析レポート（2024年度）
Costar Group, Inc. (CSGP) FY2024 Annual Report Analysis
Highlights
Business Overview
Costar Group, Inc. operates online marketplaces and provides real estate information, analytics, and marketing services (10-K), generating revenue through subscriptions, advertising, and transaction-based fees. Key products include CoStar (commercial real estate data), Apartments.com, LoopNet, Homes.com, STR (hospitality data), Ten-X (auctions), and OnTheMarket (U.K. residential portal). The company positions itself as a leader with a comprehensive proprietary database, largest research department, and standardized platform as key competitive advantages (10-K). No significant customer concentration is reported (10-K).
Revenue Analysis
Total revenue reached $2.2B (+12.3% YoY) (XBRL), with growth driven by the Visual Lease Acquisition (Information Services) and increased Land.com/BizBuySell Network revenues (Other Marketplaces) (10-K). CoStar's growth is expected to decelerate due to legacy customer conversion challenges (10-K). The 5-year revenue CAGR is 15.5% (XBRL). Segment-specific revenue figures are not disclosed (N/A).
Profitability Analysis
Gross profit was $1.8B (81.0% gross margin) (XBRL), with operating income rising 4.3% YoY to $451M (20.7% operating margin). Net income grew 26.3% YoY to $370M (16.9% net margin). Operating profitability was supported by the Visual Lease Acquisition and sales force reallocation (10-K).
Balance Sheet Analysis
Equity ratio is 64.0% (XBRL), with debt-to-equity at 0.28x and current ratio of 12.01x. Total cash is $5.2B (XBRL), while long-term debt is $990M. Net debt is -$4.2B (-7.2x EBITDA) (XBRL). Total assets grew from $3.9B (FY2020) to $9.3B (FY2025) (XBRL).
Cash Flow Analysis
Operating cash flow was $479M (XBRL), with free cash flow (FCF) of $444M after $35M in CapEx. Investing cash flow was -$69M (XBRL), primarily from CapEx. Financing cash flow was $734M (XBRL), including $138M in depreciation and amortization. No dividends or share repurchases are disclosed (N/A).
Working Capital Analysis
Receivables days: 32 days (XBRL), Payables days: 20 days (XBRL), Asset turnover: 0.24x (XBRL). No inventory data or cash conversion cycle (CCC) calculation available (N/A).
Risks
Outlook
Management expects CoStar revenue growth to decelerate, Information Services to accelerate (Visual Lease), Multifamily to moderate, LoopNet to remain stable, and Other Marketplaces to grow (10-K). Key trends include the Visual Lease Acquisition, sales force reallocation to Homes.com, and legacy STR customer conversion challenges (10-K).
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