Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
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CoStar Group Inc., consolidated income statement (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Revenue Trends
- Revenues show a consistent rising trend from $273.7 million in March 2018 to $605.9 million in June 2023. The growth is steady across most quarters, with a marked acceleration after mid-2020, indicating expanding sales or service delivery capacity over the observed period.
- Cost of Revenues
- The cost of revenues generally increased over time, though with some volatility. Starting at approximately $62.5 million in March 2018, costs rose to about $112.4 million in June 2023. Notably, costs spiked sharply in Q1 2021 but slightly recovered in some subsequent quarters, indicating fluctuations potentially related to operational scaling or changes in cost structure.
- Gross Profit
- Gross profit mirrored the upward revenue trend, increasing from around $211.2 million in early 2018 to nearly $493.5 million by mid-2023. Profit grew steadily, though the growth rate appears slightly tempered in the last couple of quarters compared to previous periods.
- Selling and Marketing Expenses
- Selling and marketing expenses exhibited pronounced fluctuations. After a general rise from roughly $88.5 million in Q1 2018 to peaks above $250 million by mid-2023, there were intermittent quarters of decline, such as Q4 2021. The increasing trend reflects growing investment in market expansion and customer acquisition, but the volatility could suggest strategic shifts or periodic cost management efforts.
- Software Development Expenses
- Expenditures on software development consistently increased over the period, starting at about $22.9 million in early 2018 and reaching approximately $63.4 million in mid-2023. This steady rise underlines a sustained focus on product innovation or platform enhancement.
- General and Administrative Expenses
- General and administrative expenses generally increased, though with notable volatility. The amount grew from about $40.6 million in Q1 2018 to a high of $118.1 million in Q4 2020, then fluctuated around $90 million in subsequent quarters. This suggests periods of scaling overhead costs, followed by some reduction or stabilization efforts.
- Customer Base Amortization
- Customer base amortization costs largely remained within a range of $5.8 million to $19.3 million, with occasional spikes such as in Q4 2019 and Q3 2022. The figures suggest periodic recognition of amortization charges related to acquired customer relationships.
- Operating Expenses
- Total operating expenses increased substantially from about $157.8 million in Q1 2018 to over $414.4 million by mid-2023, reflecting the combined effects of higher selling, marketing, development, and administrative costs. The rise indicates increased operational scale but also elevated cost pressures over time.
- Income from Operations
- Operating income demonstrated variability, with highs and lows over the quarters. Starting at roughly $53.4 million early in 2018, it peaked at about $140.4 million in Q4 2021 before declining and then partially recovering to around $79.1 million by mid-2023. This reflects fluctuating operational efficiency and impacts from rising expenses.
- Interest Income (Expense), Net
- Interest income and expense data were limited before mid-2019, after which net interest fluctuated significantly, swinging from negative values in certain quarters of 2020 to strong positive inflows exceeding $51.9 million in Q2 2023. This suggests notable changes in financing structure or investment income, positively contributing to overall profitability in recent periods.
- Other Income (Expense), Net
- Other income or expense remained relatively minor throughout, with values generally near zero, indicating limited impact on total earnings.
- Income Before Income Taxes
- Income before taxes followed a pattern similar to operating income but was affected positively by net interest gains from mid-2020 onward, resulting in peaks such as nearly $159.5 million in Q1 2023. This growth, however, shows variability reflecting underlying operational swings and financing effects.
- Income Tax Expense
- Income tax expenses varied considerably, with some quarters showing steep increases in tax charges, such as Q4 2018 and Q2 2021. The fluctuations tend to correlate with income before tax changes but do not maintain a constant effective tax rate, suggesting variable tax impacts or rate changes.
- Net Income
- Net income exhibited pronounced fluctuations. After beginning near $52.2 million in early 2018, it experienced highs such as $124.4 million in Q1 2023, but also periods of substantial decline like in Q4 2020 with net income dropping to around $35.8 million. Overall, despite volatility, the trend over five years indicates growth in bottom-line profitability consistent with rising revenues and improved financing income.