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CoStar Group Inc. (NASDAQ:CSGP)

This company has been moved to the archive! The financial data has not been updated since July 26, 2023.

Common-Size Balance Sheet: Assets

CoStar Group Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Cash and cash equivalents 59.13 52.74 54.31 27.78 33.22
Accounts receivable, net 1.83 1.72 1.50 2.39 2.69
Prepaid expenses and other current assets 0.76 0.50 0.41 0.94 0.72
Current assets 61.72% 54.96% 56.23% 31.11% 36.62%
Long-term investments 0.00 0.00 0.00 0.26 0.30
Deferred income taxes, net 0.12 0.07 0.07 0.14 0.23
Lease right-of-use assets 0.96 1.39 1.57 2.99 0.00
Property and equipment, net 3.82 3.74 1.83 2.79 2.51
Goodwill 27.55 31.98 32.33 48.83 48.64
Intangible assets, net 3.92 6.00 6.17 10.93 8.72
Deferred commission costs, net 1.70 1.40 1.35 2.32 2.29
Deposits and other assets 0.20 0.30 0.23 0.24 0.22
Income tax receivable 0.02 0.16 0.22 0.39 0.45
Long-term assets 38.28% 45.04% 43.77% 68.89% 63.38%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

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).

The asset composition reflects a fundamental shift in the balance sheet structure between 2018 and 2022, moving from a concentration in long-term intangible assets toward a highly liquid position. Total current assets increased from 36.62% of total assets in 2018 to 61.72% by 2022, while long-term assets declined from 63.38% to 38.28% over the same period.

Liquidity and Cash Management
A substantial increase in liquidity is observed, driven primarily by cash and cash equivalents, which rose from 33.22% in 2018 to 59.13% in 2022. This growth indicates a significant accumulation of liquid reserves, particularly starting in 2020 when the cash proportion jumped to 54.31%. Accounts receivable remained a minor component of the total asset base, maintaining a low and relatively stable range between 1.50% and 2.69%.
Intangible Assets and Goodwill
There is a pronounced downward trend in the proportion of non-physical assets. Goodwill, which represented nearly half of the total assets at 48.64% in 2018, declined steadily to 27.55% by 2022. Net intangible assets followed a similar trajectory, decreasing from 8.72% in 2018 to 3.92% in 2022. This suggests a shift in the balance sheet weight away from acquired intangibles toward current monetary assets.
Long-term Physical and Other Assets
Property and equipment, net, exhibited a gradual increase, growing from 2.51% in 2018 to 3.82% in 2022. Conversely, lease right-of-use assets peaked in 2019 at 2.99% before trending downward to 0.96% by the end of 2022. Other long-term items, such as deferred income taxes and income tax receivables, remained negligible throughout the period, with the latter dropping to nearly 0% by 2022.

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