Stock Analysis on Net
Stock Analysis on Net

CoStar Group Inc. (NASDAQ:CSGP)

$22.49

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

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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CoStar Group Inc., consolidated cash flow statement (quarterly data)

US$ in thousands

Microsoft Excel
3 months ended: 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
Net income
Depreciation and amortization
Amortization of deferred commissions costs
Amortization of Senior Notes discount and issuance costs
Non-cash lease expense
Stock-based compensation expense
Deferred income taxes, net
Credit loss expense
Other operating activities, net
Accounts receivable
Prepaid expenses and other current assets
Deferred commissions
Accounts payable and other liabilities
Lease liabilities
Income taxes payable, net
Deferred revenue
Other assets
Changes in operating assets and liabilities, net of acquisitions
Adjustments to reconcile net income to net cash provided by operating activities
Net cash provided by operating activities
Proceeds from sale and settlement of investments
Proceeds from sale of property and equipment and other assets
Purchase of Richmond assets
Purchases of property and equipment and other assets
Cash paid for acquisitions, net of cash acquired
Net cash (used in) provided by investing activities
Proceeds from long-term debt
Payments of debt issuance costs
Payments of long-term debt
Repurchase of restricted stock to satisfy tax withholding obligations
Proceeds from equity offering, net of transaction costs
Proceeds from exercise of stock options and employee stock purchase plan
Other financing activities
Net cash provided by (used in) financing activities
Effect of foreign currency exchange rates on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents

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).

Net income
Net income shows volatility yet an overall upward trajectory from 2018 to mid-2023, with fluctuations evident each quarter. Significant increases are noted in late 2021 and the first quarter of 2023, reflecting periods of enhanced profitability. However, some quarters in 2020 experienced lower net income, indicating challenges during that period.
Depreciation and amortization
There is a consistent gradual increase in depreciation and amortization over time, indicating growing investments in long-lived assets or acquisitions. This increase reflects expanding operational scale and asset base.
Amortization of deferred commissions costs
This expense exhibits a steady upward trend, suggesting increased deferred commission assets being amortized, which may be associated with growing sales or customer acquisition activities.
Non-cash lease expense
Data available from late 2018 onward indicates a rising pattern in non-cash lease expenses, peaking notably in early 2023 and displaying overall growth over time, consistent with lease accounting changes and expanded lease obligations.
Stock-based compensation expense
This expense generally trends upward, with some volatility. Notable increases occurred around 2020 and 2021, reflecting intensified employee incentive programs or changes in equity-based compensation arrangements.
Deferred income taxes, net
The deferred income taxes exhibit volatility with swings between positive and negative amounts. This irregular pattern indicates fluctuating tax positions or timing differences, potentially influenced by tax planning strategies or changes in profitability.
Credit loss expense
Credit loss expense has fluctuated, with a marked surge during 2020, indicating increased credit risk or deteriorating receivables quality possibly related to economic disruptions. Subsequent quarters show partial normalization with ongoing variability.
Other operating activities, net
Other operating activities remain relatively minor in magnitude but show inconsistent fluctuations, signifying occasional atypical cash flows impacting operating results.
Accounts receivable
Accounts receivable changes are volatile, with significant negative adjustments in some quarters suggesting large collections or write-offs, and occasional positive changes indicative of increased sales on credit. The inconsistent pattern points to variability in sales collections and working capital management.
Prepaid expenses and other current assets
These assets show fluctuating changes, with alternating periods of increases and decreases, reflecting variable timing in payments or recognition of expenses and impacting short-term asset composition.
Deferred commissions
Deferred commissions demonstrate a consistent negative change, representing amortization exceeding new deferred commission capitalization, indicative of sustained investment in customer acquisition costs over time.
Accounts payable and other liabilities
Changes in accounts payable and other liabilities are highly volatile, with large swings between increases and decreases. This irregular behavior suggests fluctuations in payment cycles, vendor terms, or timing of liabilities recognition.
Lease liabilities
Lease liabilities changes show persistent negative values, indicating ongoing repayments or reductions in lease obligations. The trend is generally stable with some quarters showing increased lease-related outflows.
Income taxes payable, net
Income taxes payable show significant volatility with large positive and negative swings, pointing to irregular tax payment timings, adjustments, or disputes influencing cash tax positions.
Deferred revenue
Deferred revenue changes fluctuate between positive and negative, reflecting timing differences in revenue recognition and billing. The variability demonstrates dynamic customer payment behaviors or contract structures.
Other assets
Changes in other assets are relatively minor and erratic, indicating occasional adjustments or non-core asset movements without a clear trend.
Changes in operating assets and liabilities, net of acquisitions
This metric displays predominantly negative values, suggesting that operating assets and liabilities broadly absorb cash flow, with occasional temporary positive cash flow impacts, reflecting working capital fluctuations.
Adjustments to reconcile net income to net cash provided by operating activities
These adjustments are generally positive and substantial, indicating significant non-cash charges or income adjustments necessary for converting accounting net income to cash-based operating results.
Net cash provided by operating activities
Operating cash flow steadily increases with some quarter-to-quarter volatility, pointing to a growing business generating increasing cash from core operations despite transient decreases, notably in late 2019 and 2022.
Investing activities
Net cash used in investing activities is predominantly negative with large outflows in certain quarters linked to property and equipment purchases and acquisitions. Notable spikes in asset purchases occurred intermittently, signaling active investment and expansion strategies. Some quarters show small positive or less negative cash flows due to asset sales or divestitures.
Financing activities
Financing cash flow is highly variable with periods of large positive inflows from debt and equity issuance and significant outflows due to debt repayments, share repurchases for tax withholdings, and acquisition financing. Massive capital raises in 2020 and 2021 are evident, reflecting efforts to secure funding for growth or refinancing needs.
Effect of foreign currency exchange rates on cash
This effect fluctuates modestly around zero with occasional positive or negative impacts, indicating minor influences of currency translation on cash balances.
Net increase (decrease) in cash and cash equivalents
Cash balances show substantial fluctuations, with very large increases during capital raising and positive operating cash flow periods and notable decreases coinciding with heavy investing outflows or debt repayments. The overall pattern indicates dynamic cash management responding to operational needs and strategic investments.