Stock Analysis on Net
Stock Analysis on Net

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: Liabilities and Stockholders’ Equity 

CoStar Group Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Accounts payable 0.34 0.31 0.23 0.20 0.19
Accrued wages and commissions 1.25 1.13 1.17 1.38 1.38
Accrued expenses 1.06 1.13 1.60 1.00 0.90
Deferred gain on the sale of building 0.00 0.00 0.00 0.00 0.08
Income taxes payable 0.12 0.43 0.24 0.28 0.43
Deferred rent 0.00 0.00 0.00 0.00 0.13
Current portion of operating lease liabilities 0.43 0.36 0.47 0.77 0.00
Deferred revenue 1.23 1.32 1.08 1.75 1.55
Current liabilities 4.43% 4.67% 4.78% 5.37% 4.65%
Deferred gain on the sale of building 0.00 0.00 0.00 0.00 0.41
Deferred rent 0.00 0.00 0.00 0.00 0.96
Long-term debt, net 11.77 13.61 14.27 0.00 0.00
Deferred income taxes, net 0.91 1.36 1.06 2.26 2.11
Income taxes payable 0.17 0.17 0.37 0.53 0.52
Lease and other long-term liabilities 0.96 1.48 1.80 3.47 0.12
Long-term liabilities 13.80% 16.63% 17.49% 6.26% 4.13%
Total liabilities 18.24% 21.29% 22.27% 11.63% 8.78%
Preferred stock, $0.01 par value; zero outstanding 0.00 0.00 0.00 0.00 0.00
Common stock, $0.01 par value 0.05 0.05 0.01 0.01 0.01
Additional paid-in capital 60.29 58.61 60.85 64.18 73.04
Accumulated other comprehensive loss -0.35 -0.08 -0.01 -0.22 -0.35
Retained earnings 21.77 20.12 16.88 24.40 18.52
Stockholders’ equity 81.76% 78.71% 77.73% 88.37% 91.22%
Total liabilities and stockholders’ equity 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).

Liabilities Trends
The proportion of total liabilities relative to total liabilities and stockholders' equity exhibited a significant increase from 8.78% in 2018 to a peak of 22.27% in 2020, before declining to 18.24% in 2022. This rise and subsequent fall suggest a period of increased leverage followed by partial deleveraging. Current liabilities as a percentage of total liabilities and equity showed minor fluctuations, peaking at 5.37% in 2019 and gradually decreasing to 4.43% by 2022, indicating a slight reduction in short-term obligations over the period.
Current Liabilities Components
Accounts payable steadily increased from 0.19% in 2018 to 0.34% in 2022, reflecting a growing share of payables within the capital structure. Accrued wages and commissions generally declined from 1.38% in 2018 and 2019 to a low of 1.13% in 2021, followed by a slight uptick to 1.25% in 2022. Accrued expenses increased significantly in 2020 to 1.6% before moderating to 1.06% in 2022. Income taxes payable diminished noticeably from 0.43% in 2018 to 0.12% in 2022, indicating reduced tax liabilities or better tax management.
Long-Term Liabilities
Long-term debt, initially unreported, constituted a considerable 14.27% of total liabilities and equity in 2020, decreasing to 11.77% by 2022. Deferred income taxes showed a declining trend from 2.11% in 2018 to 0.91% in 2022. Lease and other long-term liabilities rose sharply from 0.12% in 2018 to a peak of 3.47% in 2019, followed by a continuous decrease to 0.96% in 2022. Overall long-term liabilities increased substantially in 2020 to 17.49% but tapered to 13.8% in 2022, revealing a shift in the company's capital structure emphasizing long-term financing during the middle years with a moderation thereafter.
Stockholders' Equity Components
Stockholders' equity declined from 91.22% in 2018 to a low of 77.73% in 2020, then improved to 81.76% by 2022, reflecting changes in capital and retained earnings policies or profitability dynamics. Additional paid-in capital showed a downward trend from 73.04% in 2018 to a low of 58.61% in 2021, with a slight recovery to 60.29% in 2022, indicating possible share repurchases or capital return activities. Retained earnings fluctuated with a peak at 24.4% in 2019, a drop to 16.88% in 2020, and subsequent increases to 21.77% in 2022, capturing varying profitability or dividend strategies. Accumulated other comprehensive loss remained generally minimal but showed variability, reaching -0.35% in both 2018 and 2022.
Notable Observations
The data indicates a strategic increase in liabilities, especially long-term debt and lease liabilities, around 2020, potentially signaling investments or expansion financed by debt. Post-2020, a reduction in leverage and a recovery in equity proportions suggests a focus on solidifying the capital structure. The steady increase in accounts payable alongside a decline in accrued expenses and income taxes payable may reflect changes in supplier terms or tax planning. The variations in retained earnings and paid-in capital point toward active management of equity components to balance growth and shareholder returns.