Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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CoStar Group Inc. pages available for free this week:
- 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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Current Valuation Ratios
CoStar Group Inc. | Industrials | ||
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Selected Financial Data | |||
Current share price (P) | |||
No. shares of common stock outstanding | |||
Growth rate (g) | |||
Earnings per share (EPS) | |||
Next year expected EPS | |||
Operating profit per share | |||
Sales per share | |||
Book value per share (BVPS) | |||
Valuation Ratios (Price Multiples) | |||
Price to earnings (P/E) | |||
Price to next year expected earnings | |||
Price-earnings-growth (PEG) | |||
Price to operating profit (P/OP) | |||
Price to sales (P/S) | |||
Price to book value (P/BV) |
Based on: 10-K (reporting date: 2022-12-31).
If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.
Historical Valuation Ratios (Summary)
Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
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Price to earnings (P/E) | ||||||
Price to operating profit (P/OP) | ||||||
Price to sales (P/S) | ||||||
Price to book value (P/BV) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
- Price to Earnings (P/E) Ratio
- The Price to Earnings ratio demonstrated considerable fluctuation over the analyzed period. It started at 69.97 in 2018 and rose to a peak of 145.09 in 2020, indicating a significant increase in market valuation relative to earnings. Subsequently, it declined sharply to 72.23 in 2021 before a modest increase to 79.42 in 2022. This pattern suggests volatility in investor sentiment or earnings performance during these years.
- Price to Operating Profit (P/OP) Ratio
- The Price to Operating Profit ratio followed a similar trend to the P/E ratio. It increased from 60.96 in 2018 to a high of 113.95 in 2020, implying an expansion in valuation relative to operating profit. This was followed by a notable decrease to 48.88 in 2021, before rising again to 65.06 in 2022. The volatility may reflect shifts in the operating profitability or changes in market expectations.
- Price to Sales (P/S) Ratio
- The Price to Sales ratio showed a rising trend from 13.99 in 2018 to 19.86 in 2020, indicating growing market valuation relative to sales revenue. A marked decline occurred in 2021, dropping to 10.87, before a slight recovery to 13.44 in 2022. This considerable dip in 2021 suggests a reassessment of sales growth prospects or valuation multiples during that year.
- Price to Book Value (P/BV) Ratio
- The Price to Book Value ratio steadily increased from 5.52 in 2018 to 7.34 in 2019, then declined to 6.13 in 2020. Subsequently, there was a significant decrease to 3.7 in 2021, followed by a moderate increase to 4.27 in 2022. The drop in 2021 indicates a reduced market valuation relative to the company’s book value, possibly reflecting investor concerns about asset quality or future returns.
- Overall Trends and Insights
- Across all valuation ratios, there is a noticeable peak in 2020 followed by a sharp decline in 2021, with partial recovery in 2022. This pattern indicates that 2020 may have experienced peak market optimism or valuation surges relative to earnings, operating profit, sales, and book value. The subsequent dip in 2021 suggests a period of correction or adjustment in market perceptions. The partial rebound in 2022 points to a stabilization of investor confidence but at levels generally lower than the 2020 peaks. The volatility in these multiples may be influenced by external market conditions, company performance fluctuations, or changes in investor sentiment during the period.
Price to Earnings (P/E)
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 Data adjusted for splits and stock dividends.
2 2022 Calculation
EPS = Net income ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of CoStar Group Inc. Annual Report.
4 2022 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
- Share Price Trend
- The share price exhibited an overall upward trend from 2018 to 2022, starting at $45.75 and reaching $72.13 by the end of 2022. The price saw a significant increase up to 2020, peaking at $83.62, followed by a notable decline to $53.50 in 2021, before recovering to $72.13 in 2022.
- Earnings Per Share (EPS) Trend
- EPS showed moderate fluctuations during the period. It increased from $0.65 in 2018 to $0.86 in 2019, then declined substantially to $0.58 in 2020. After this drop, EPS recovered to $0.74 in 2021 and further improved to $0.91 in 2022, exceeding the initial value in 2018.
- Price-to-Earnings (P/E) Ratio Trend
- The P/E ratio was comparatively high throughout the period, indicating expectations of growth or potentially overvaluation. There was an increase from 69.97 in 2018 to a peak of 145.09 in 2020, likely driven by a combination of share price levels and reduced EPS that year. The ratio then decreased sharply to 72.23 in 2021, aligning more closely with the EPS recovery, before slightly increasing again to 79.42 in 2022.
- Overall Analysis
- Despite some volatility, share price and EPS trends suggest resilient financial performance with recovery evident in the latter years after 2020. The elevated P/E ratios throughout the period point to market optimism or growth expectations relative to earnings. The 2020 spike in P/E ratio corresponds with the lowest EPS and high share price, indicating market valuation pressures during that year, which later stabilized along with EPS improvements.
Price to Operating Profit (P/OP)
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 Data adjusted for splits and stock dividends.
2 2022 Calculation
Operating profit per share = Income from operations ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of CoStar Group Inc. Annual Report.
4 2022 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
- Share Price
- The share price experienced a notable increase from $45.75 at the end of 2018 to a peak of $83.62 in 2020. Following this peak, there was a decline to $53.50 in 2021, before rising again to $72.13 in 2022. Overall, the share price shows volatility with a general upward trend over the five-year period.
- Operating Profit per Share
- Operating profit per share demonstrated fluctuations over the analyzed period. It increased from $0.75 in 2018 to $0.99 in 2019, then decreased to $0.73 in 2020. Subsequently, there was a recovery with operating profit per share rising to $1.09 in 2021 and slightly increasing further to $1.11 in 2022. This indicates some variability with an overall improvement in recent years.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio showed considerable variation across the time frame. It started at 60.96 in 2018 and rose to 68.77 in 2019, then surged to a high of 113.95 in 2020. A substantial decline followed in 2021 to 48.88, after which the ratio increased again to 65.06 in 2022. These fluctuations reflect changes in market valuation relative to operating profits, signaling periods of overvaluation and correction.
Price to Sales (P/S)
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 Data adjusted for splits and stock dividends.
2 2022 Calculation
Sales per share = Revenues ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of CoStar Group Inc. Annual Report.
4 2022 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
- Share Price
- The share price experienced a general upward trend from 2018 to 2020, increasing from $45.75 to $83.62. However, this was followed by a significant decline in 2021 to $53.50, after which the price rebounded in 2022 to $72.13. Overall, the share price demonstrated volatility with a peak in 2020 and a partial recovery thereafter.
- Sales Per Share
- Sales per share showed consistent growth throughout the five-year period. Starting at $3.27 in 2018, sales per share increased steadily each year, reaching $5.37 by 2022. This indicates a sustained positive trend in the company’s sales performance on a per-share basis.
- Price-to-Sales (P/S) Ratio
- The P/S ratio rose from 13.99 in 2018 to a peak of 19.86 in 2020, suggesting an increasing market valuation relative to sales per share. In 2021, the ratio dropped sharply to 10.87, reflecting the decline in share price outpacing sales growth. It then partially recovered to 13.44 in 2022, indicating some normalization of market expectations relative to sales.
Price to Book Value (P/BV)
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 Data adjusted for splits and stock dividends.
2 2022 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of CoStar Group Inc. Annual Report.
4 2022 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
- Share price
- The share price showed a general upward trend from 2018 to 2020, increasing from $45.75 to $83.62. In 2021, there was a notable decline to $53.50, followed by a recovery in 2022 to $72.13. This indicates a period of volatility, with the price peaking in 2020 before experiencing a correction and partial rebound.
- Book value per share (BVPS)
- Book value per share steadily increased throughout the period. Starting at $8.29 in 2018, it rose consistently each year to reach $16.89 in 2022. This reflects continual growth in the company's net asset value on a per-share basis, suggesting an accumulation of equity or retained earnings.
- Price-to-Book Value ratio (P/BV)
- The price-to-book ratio fluctuated significantly. It initially increased from 5.52 in 2018 to a peak of 7.34 in 2019, indicating that the market valued the company highly relative to its book value. After this peak, the ratio declined to 6.13 in 2020 and dropped further to 3.7 in 2021, reflecting the share price correction against a rising book value. In 2022, the ratio slightly recovered to 4.27, although it remained below earlier highs, suggesting a more moderate market valuation relative to book value.