Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
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).
Paying user area
Try for free
CoStar Group Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to CoStar Group Inc. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Historical Valuation Ratios (Summary)
CoStar Group Inc., historical price multiples (quarterly data)
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).
The analysis of the quarterly financial ratios reveals notable fluctuations and trends over the observed period.
- Price to Earnings (P/E) Ratio
- The P/E ratio exhibited a general increasing trend from early 2019 through the end of 2021, peaking around December 2021. Starting at 63.9 in March 2019, it escalated to values above 140 by the end of 2020 and remained elevated above 140 throughout 2021. However, a significant decline occurred in December 2021, dropping to 72.23, followed by moderate fluctuations ranging between approximately 80 to 96 up to mid-2023. This pattern indicates an initial investor optimism or high growth expectations, followed by a reassessment or market correction in later periods.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio followed a somewhat similar trajectory, rising steadily from 55.28 in March 2019 to a peak surpassing 113 in December 2020. A sharp decline to 48.88 in December 2021 is observed, mirroring the behavior of the P/E ratio. Subsequent quarters show a recovery trend with the ratio increasing again, reaching as high as 94.69 in June 2023. These variations suggest fluctuations in investor sentiment relative to the operating profitability of the company, with strong valuations in the earlier periods followed by a contraction and renewed confidence thereafter.
- Price to Sales (P/S) Ratio
- The P/S ratio displays less dramatic fluctuations compared to the P/E and P/OP ratios but maintains a consistent pattern of rise and fall. Beginning at 13.91 in March 2019, it increased to nearly 20 in late 2019 and early 2020, then sharply declined to below 11 by December 2021. A gradual upward movement is seen afterward, reaching 14.85 by June 2023. This trend reflects changes in market valuation relative to sales, with a peak during the pre-pandemic and early pandemic periods, a trough at the end of 2021, and a modest recovery in recent quarters.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio indicates a downward shift over time. From a high around 7 in 2019 and early 2020, it declined steadily to approximately 3.7 in December 2021. Although there was some recovery to about 4.85 by the end of 2022 and mid-2023, it remained well below earlier highs. This trend could indicate a decline in market valuation relative to the net asset base, possibly reflecting changes in investor perceptions of the company's underlying value or adjustments in book value components.
Overall, the financial ratios suggest a period of elevated valuation in earnings and operating profits leading up to 2021, followed by a sharp correction by the end of that year across all metrics. Subsequent quarters demonstrate varying degrees of recovery, with sales and operating profit-related valuations showing more pronounced rebounds compared to book value. This indicates evolving market assessments of growth potential, profitability, and asset value over time.
Price to Earnings (P/E)
CoStar Group Inc., historical P/E calculation (quarterly data)
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).
1 Data adjusted for splits and stock dividends.
2 Q2 2023 Calculation
EPS
= (Net incomeQ2 2023
+ Net incomeQ1 2023
+ Net incomeQ4 2022
+ Net incomeQ3 2022)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of CoStar Group Inc. Quarterly or Annual Report.
4 Q2 2023 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
The analyzed financial indicators exhibit distinct trends over the observed periods. The share price displays a general upward trajectory from early 2019 through mid-2021, reaching a peak around the third quarter of 2021. Subsequently, there is a noticeable decline until the end of 2021, followed by a recovery phase through 2022 and fluctuating movements into mid-2023. This pattern suggests periods of market optimism interspersed with corrections or volatility.
Earnings per share (EPS) show a relatively stable progression with mild fluctuations. Starting at $0.74 in the first quarter of 2019, EPS gradually increased with some minor dips, reaching approximately $0.94 by mid-2023. The EPS trend suggests consistent profitability growth with some variability, likely influenced by changing economic or operational conditions.
The price-to-earnings (P/E) ratio demonstrates considerable volatility and elevated values. Initially, it rises from around 64 to a peak exceeding 150 by late 2021, indicating a period when the market price was significantly higher relative to earnings. This spike in P/E could reflect high investor expectations or market exuberance. After this peak, the P/E sharply decreases to about 72 at the end of 2021, then moderately recovers to the mid-80s and near 90 in mid-2023. The fluctuations in P/E ratio suggest changing investor sentiment and risk perceptions corresponding with the share price movements and EPS changes.
Overall, the data illustrates a company experiencing periods of growth in earnings and share valuation, tempered by intervals of increased valuation multiples followed by corrections. The rising EPS demonstrates operational improvement, while the volatility in share price and P/E ratio may reflect market dynamics and external factors affecting investor confidence.
- Share Price Trend
- General upward trend from early 2019 to mid-2021, peaking in Q3 2021, followed by a decline and recovery into mid-2023 with fluctuations.
- Earnings per Share Trend
- Relatively stable and gradually increasing EPS, from $0.74 to $0.94 over the period, signaling consistent profitability with minor fluctuations.
- Price-to-Earnings Ratio Trend
- Volatile and elevated P/E ratio, peaking above 150 in late 2021, then declining sharply, followed by moderate recovery. Indicative of changing market expectations and investor sentiment.
- Financial Insights
- Improving earnings performance accompanied by fluctuating market valuations, suggesting investor optimism balanced by periods of reevaluation. The high P/E values point to elevated growth expectations or market speculation during peak intervals.
Price to Operating Profit (P/OP)
CoStar Group Inc., historical P/OP calculation (quarterly data)
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).
1 Data adjusted for splits and stock dividends.
2 Q2 2023 Calculation
Operating profit per share
= (Income from operationsQ2 2023
+ Income from operationsQ1 2023
+ Income from operationsQ4 2022
+ Income from operationsQ3 2022)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of CoStar Group Inc. Quarterly or Annual Report.
4 Q2 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
The analysis of the quarterly financial data reveals distinct patterns in the share price, operating profit per share, and the price to operating profit (P/OP) ratio over the observed periods.
- Share Price
- The share price exhibited an overall upward trend from early 2019 through mid-2021, rising from $47.44 to a peak near $89.82. However, a notable decline occurred in the latter part of 2021, dropping to $53.50 by the fourth quarter of that year. Throughout 2022 and into mid-2023, the share price showed variability, with intermittent increases to $80.04 in late 2022 and a subsequent decline to approximately $71.92 in mid-2023, followed again by a rise to $84.38 by June 2023.
- Operating Profit Per Share
- The operating profit per share demonstrated a generally stable pattern with minor fluctuations. Initially, it increased gradually from $0.86 in the first quarter of 2019 to over $1.00 in late 2019 but then declined to a low of $0.73 by the end of 2020. Recovery followed throughout 2021 and early 2022, peaking around $1.18. Thereafter, the metric exhibited a slight decrease through 2022 and into the first half of 2023, ending at $0.89.
- Price to Operating Profit (P/OP) Ratio
- This ratio showed considerable volatility over the periods. Starting at approximately 55.28 in early 2019, it generally climbed until late 2020, reaching a peak of 113.95. A sharp decrease occurred in 2021, dropping to around 48.88 by the end of that year. In 2022 and early 2023, the ratio increased again, fluctuating between approximately 56.46 and 94.69. These swings indicate high variability in market valuation relative to operating profit per share.
In summary, the data reflect a dynamic market environment with cyclical trends in share price and valuation multiples. While operating profit per share remained relatively stable with moderate growth phases and declines, market valuation as measured by the P/OP ratio was subject to significant fluctuation. The divergence between share price trends and operating profit suggests periods where market sentiment and external factors may have influenced investor valuations independently of operating performance.
Price to Sales (P/S)
CoStar Group Inc., historical P/S calculation (quarterly data)
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).
1 Data adjusted for splits and stock dividends.
2 Q2 2023 Calculation
Sales per share
= (RevenuesQ2 2023
+ RevenuesQ1 2023
+ RevenuesQ4 2022
+ RevenuesQ3 2022)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of CoStar Group Inc. Quarterly or Annual Report.
4 Q2 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
The share price exhibited a general upward trend from March 2019 through June 2023, although there were notable fluctuations within this period. Initially, the share price increased from $47.44 in March 2019 to a peak of $89.82 in September 2021, reflecting strong market performance. Following this peak, the share price experienced a significant decline to $53.50 by December 2021, indicating a period of volatility or market correction. Subsequently, the price recovered gradually, reaching $84.38 by June 2023, suggesting renewed investor confidence or improved company prospects.
Sales per share demonstrated a consistent and steady increase throughout the entire period. Starting at $3.41 in March 2019, sales per share rose incrementally each quarter, reaching $5.68 by June 2023. This upward trajectory indicates continuous revenue growth on a per-share basis, reflecting either rising sales volumes, pricing improvements, or a combination of both factors.
The price-to-sales (P/S) ratio showed considerable variability aligned with changes in the share price and sales per share. Initially, the P/S ratio climbed from 13.91 in March 2019 to a peak of 21.52 in June 2020, reflecting a significant premium valuation relative to sales. Following this, the ratio decreased somewhat but remained elevated until September 2021. A sharp drop to 10.87 occurred in December 2021, coinciding with the share price decline observed in the same quarter. After this sharp fall, the P/S ratio rebounded modestly to 14.85 by June 2023, suggesting a partial market valuation recovery relative to sales. Overall, the P/S ratio indicates periods of high market optimism as well as phases of correction.
In summary, the financial metrics reflect a company with steadily increasing sales per share and fluctuating market valuations as seen in the share price and price-to-sales ratio. The period from late 2021 presented a market reset or correction after a prior strong growth phase, followed by gradual recovery in valuation metrics, highlighting market sensitivity to company performance or broader economic factors.
- Share Price Trend
- Progressive increase from $47.44 to $84.38 with notable volatility, especially between late 2021 and early 2022.
- Sales per Share
- Consistent quarterly growth from $3.41 to $5.68, indicating steady improvement in revenue generation on a per-share basis.
- Price-to-Sales Ratio
- Fluctuated significantly, peaking in mid-2020, dropping sharply at the end of 2021, and partially recovering by mid-2023, reflecting changing market sentiment and valuations.
Price to Book Value (P/BV)
CoStar Group Inc., historical P/BV calculation (quarterly data)
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).
1 Data adjusted for splits and stock dividends.
2 Q2 2023 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of CoStar Group Inc. Quarterly or Annual Report.
4 Q2 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
The review of the quarterly financial indicators reveals notable trends in the share price, book value per share (BVPS), and the price-to-book value ratio (P/BV) over the analyzed periods.
- Share Price
- The share price exhibited considerable fluctuations throughout the periods. It initially rose from $47.44 to a peak near $83.62 between early 2019 and late 2020, indicating a strong upward momentum. Following this peak, there was a decline and increased volatility in share prices, with values dipping to $53.50 at the end of 2021 before recovering again to around $84.38 by mid-2023. This pattern suggests periods of significant market revaluation possibly influenced by external market conditions or company-specific developments.
- Book Value per Share (BVPS)
- BVPS showed a consistent upward trend over the entire period, rising from $8.56 in March 2019 to $17.39 by June 2023. This steady growth implies effective asset management and accumulation of shareholder equity, reflecting a strengthening financial position on a per share basis. The rate of increase was particularly pronounced from mid-2020 onwards, which may be indicative of improved operational outcomes or capitalization.
- Price-to-Book Value Ratio (P/BV)
- The P/BV ratio fluctuated significantly, starting at 5.54 in early 2019, reaching a peak above 7 during late 2019, and then gradually declining towards the end of 2021 where it hit a low of 3.7. This decline indicates a narrowing premium of the share price over its book value during that period. However, post-2021, the ratio increased moderately up to around 4.85 by mid-2023, reflecting a partial rebound in market valuation relative to the company's net asset value. These movements suggest changing market perceptions regarding the company's growth prospects or risk profile over time.
Overall, the data points to a company with growing intrinsic value as evidenced by the rising book value per share, while the market valuation as indicated by share price and P/BV ratio experienced more volatility and adjustments. The disparity between the steady increase in book value and the fluctuating share price and P/BV ratio may warrant further qualitative analysis to understand underlying causes such as market sentiment, competitive dynamics, or financial performance details not captured here.