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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: Liabilities and Stockholders’ Equity
Quarterly Data

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

Microsoft Excel
Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Accounts payable 0.71 0.37 0.34 0.38 0.43 0.26 0.31 0.25 0.23 0.24 0.23 0.30 0.41 0.48 0.20 0.22 0.19 0.22 0.19 0.32 0.30 0.25
Accrued wages and commissions 1.16 1.05 1.25 1.01 1.14 0.81 1.13 1.16 1.07 0.99 1.17 0.93 0.88 1.05 1.38 1.39 1.31 1.39 1.38 1.57 1.46 1.65
Accrued expenses 1.33 1.02 1.06 0.94 1.23 1.07 1.13 1.22 1.26 0.84 1.60 0.81 0.71 0.86 1.00 1.13 1.35 1.02 0.90 1.04 1.20 1.31
Deferred gain on the sale of building 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.08 0.08 0.08 0.08
Income taxes payable 0.13 0.46 0.12 0.00 0.02 0.98 0.43 0.17 0.36 0.41 0.24 0.00 0.35 0.26 0.28 0.25 0.24 0.64 0.43 0.04 0.00 0.30
Deferred rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.13 0.17 0.15 0.16
Current portion of operating lease liabilities 0.46 0.42 0.43 0.42 0.48 0.44 0.36 0.42 0.41 0.40 0.47 0.46 0.48 0.59 0.77 0.73 0.75 0.73 0.00 0.00 0.00 0.00
Deferred revenue 1.30 1.38 1.23 1.22 1.41 1.46 1.32 1.30 1.31 1.29 1.08 1.10 1.24 1.81 1.75 1.62 1.61 1.58 1.55 1.57 1.48 1.60
Current liabilities 5.09% 4.71% 4.43% 3.97% 4.72% 5.03% 4.67% 4.51% 4.65% 4.18% 4.78% 3.61% 4.06% 5.05% 5.37% 5.33% 5.45% 5.59% 4.65% 4.79% 4.67% 5.35%
Deferred gain on the sale of building 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.41 0.45 0.48 0.50
Deferred rent 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.96 0.97 1.03 1.03
Long-term debt, net 11.39 11.62 11.77 12.05 13.32 13.43 13.61 13.85 13.95 14.22 14.27 14.51 11.50 15.90 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Deferred income taxes, net 0.80 0.86 0.91 0.98 1.18 1.25 1.36 1.17 1.09 1.24 1.06 1.43 1.45 1.90 2.26 2.24 2.14 2.16 2.11 2.02 2.01 2.11
Income taxes payable 0.20 0.18 0.17 0.18 0.19 0.17 0.17 0.37 0.36 0.37 0.37 0.31 0.32 0.44 0.53 0.46 0.48 0.49 0.52 0.47 0.51 0.50
Lease and other long-term liabilities 0.83 0.85 0.96 1.08 1.30 1.32 1.48 1.53 1.84 1.53 1.80 1.91 2.03 2.79 3.47 3.17 3.43 3.59 0.12 0.00 0.00 0.00
Long-term liabilities 13.21% 13.51% 13.80% 14.30% 15.99% 16.17% 16.63% 16.92% 17.24% 17.36% 17.49% 18.16% 15.30% 21.03% 6.26% 5.87% 6.06% 6.24% 4.13% 3.91% 4.04% 4.15%
Total liabilities 18.30% 18.21% 18.24% 18.27% 20.70% 21.20% 21.29% 21.43% 21.88% 21.54% 22.27% 21.76% 19.37% 26.08% 11.63% 11.20% 11.50% 11.83% 8.78% 8.70% 8.71% 9.50%
Stockholders’ equity 81.70 81.79 81.76 81.73 79.30 78.80 78.71 78.57 78.12 78.46 77.73 78.24 80.63 73.92 88.37 88.80 88.50 88.17 91.22 91.30 91.29 90.50
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

A significant shift in the capital structure occurred in early 2020, characterized by a transition from a predominantly equity-funded balance sheet to one incorporating substantial long-term debt. This pivot fundamentally altered the composition of liabilities and stockholders' equity for the remainder of the analyzed period.

Capitalization and Leverage Trends
Total liabilities remained relatively low, ranging between 8.7% and 11.8% of the total balance sheet from March 2018 through December 2019. A sharp increase to 26.08% was recorded in March 2020, primarily driven by the introduction of long-term debt, which rose from 0% to 15.90%. Following this peak, a consistent deleveraging trend is observed, with long-term debt gradually declining to 11.39% by June 2023.
Equity Position
Stockholders' equity, which constituted over 90% of the total balance sheet for much of 2018, experienced a corresponding decline during the 2020 leverage event, dropping to a low of 73.92% in March 2020. Since that period, the equity position has steadily recovered and stabilized, trending upward to reach 81.70% by June 2023.
Short-term Obligation Analysis
Current liabilities have remained stable as a percentage of the total balance sheet, generally fluctuating between 3.6% and 5.6%. Within this category, deferred revenue exhibits low volatility, maintaining a range between 1.1% and 1.8%, which suggests a consistent relationship between advance payments and total assets. Accounts payable and accrued expenses show minimal relative impact, though accounts payable saw a notable marginal increase to 0.71% in June 2023.
Lease and Long-term Liability Dynamics
Following a reporting transition in 2019, lease liabilities became a prominent component of the long-term structure. These obligations peaked at 3.59% in March 2019 and have since followed a downward trajectory, decreasing to 0.83% by June 2023. This indicates a systematic reduction in the relative weight of lease obligations over the five-year period.

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