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).

The capital structure shifted from a nearly equity-funded model to a more leveraged position between 2018 and 2022. Total liabilities as a percentage of total liabilities and stockholders’ equity grew from 8.78% in 2018 to a peak of 22.27% in 2020, before moderating to 18.24% by the end of 2022.

Long-Term Debt and Obligations
The most significant change in the liability profile occurred in 2020 with the introduction of net long-term debt, which accounted for 14.27% of the total balance sheet. This figure remained a primary driver of total liabilities through 2021 (13.61%) and 2022 (11.77%), indicating a strategic shift toward debt financing during this period.
Current Liabilities Trends
Current liabilities remained relatively stable and small in proportion to the total balance sheet, fluctuating between 4.43% and 5.37% over the five-year period. While accounts payable showed a gradual upward trend from 0.19% to 0.34%, other short-term obligations such as deferred revenue and accrued expenses remained consistently low, suggesting minimal short-term liquidity pressure relative to total assets.
Stockholders' Equity Composition
Equity continues to be the dominant source of funding, although its relative weight decreased from 91.22% in 2018 to 81.76% in 2022. This decline is primarily attributed to a reduction in the proportion of additional paid-in capital, which dropped from 73.04% in 2018 to 60.29% in 2022.
Retained Earnings and Comprehensive Loss
Retained earnings exhibited volatility, peaking at 24.40% in 2019 before dipping to 16.88% in 2020 and recovering to 21.77% by 2022. Accumulated other comprehensive loss remained a marginal factor, fluctuating between -0.35% and -0.01%, thereby having a negligible impact on the overall equity position.

Overall, the financial position is characterized by a high degree of solvency, as equity consistently represents over 77% of the total funding. The increase in liabilities was driven specifically by long-term debt rather than operational current liabilities, indicating a deliberate adjustment in the company's long-term financing strategy.

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