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The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
CoStar Group has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for CoStar Group's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of CoStar Group was 8. The lowest was 4. And the median was 6.
The historical data trend for CoStar Group's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
CoStar Group Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 6.00 | 6.00 | 6.00 | 7.00 | 4.00 |
CoStar Group Quarterly Data | ||||||||||||||||||||
Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | |
Piotroski F-Score | Get a 7-Day Free Trial | 5.00 | 4.00 | 4.00 | 4.00 | 5.00 |
For the Real Estate Services subindustry, CoStar Group's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Real Estate industry and Real Estate sector, CoStar Group's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where CoStar Group's Piotroski F-Score falls into.
How is the Piotroski F-Score calculated?
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Sep24) TTM: | Last Year (Sep23) TTM: |
Net Income was 96.5 + 6.7 + 19.2 + 53 = $175 Mil. Cash Flow from Operations was 148.5 + 139.6 + 58.1 + 100.3 = $447 Mil. Revenue was 640.1 + 656.4 + 677.8 + 692.6 = $2,667 Mil. Gross Profit was 503.8 + 515.2 + 542 + 552 = $2,113 Mil. Average Total Assets from the begining of this year (Sep23) to the end of this year (Sep24) was (8771.655 + 8919.7 + 9034.5 + 9067.3 + 9138.7) / 5 = $8986.371 Mil. Total Assets at the begining of this year (Sep23) was $8,772 Mil. Long-Term Debt & Capital Lease Obligation was $1,072 Mil. Total Current Assets was $5,195 Mil. Total Current Liabilities was $539 Mil. |
Net Income was 124.419 + 87.1 + 100.5 + 90.6 = $403 Mil. Revenue was 573.346 + 584.4 + 605.9 + 624.7 = $2,388 Mil. Gross Profit was 464.16 + 465.2 + 493.5 + 501 = $1,924 Mil. Average Total Assets from the begining of last year (Sep22) to the end of last year (Sep23) was (8205.863 + 8402.5 + 8516.912 + 8691.674 + 8771.655) / 5 = $8517.7208 Mil. Total Assets at the begining of last year (Sep22) was $8,206 Mil. Long-Term Debt & Capital Lease Obligation was $1,068 Mil. Total Current Assets was $5,499 Mil. Total Current Liabilities was $413 Mil. |
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
CoStar Group's current Net Income (TTM) was 175.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
CoStar Group's current Cash Flow from Operations (TTM) was 447.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Score 1 if it's higher, 0 if it's lower.
ROA (This Year) | = | Net Income | / | Total Assets (Sep23) |
= | 175.4 | / | 8771.655 | |
= | 0.01999623 |
ROA (Last Year) | = | Net Income | / | Total Assets (Sep22) |
= | 402.619 | / | 8205.863 | |
= | 0.0490648 |
CoStar Group's return on assets of this year was 0.01999623. CoStar Group's return on assets of last year was 0.0490648.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Score 1 if CFROA > ROA, 0 if CFROA <= ROA.
CoStar Group's current Net Income (TTM) was 175. CoStar Group's current Cash Flow from Operations (TTM) was 447.
==> 447 > 175 ==> CFROA > ROA ==> Score 1.
Funding
Question 5. Change in Gearing or Leverage
Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.
Score 0 if this year's gearing is higher, 1 otherwise.
Gearing (This Year: Sep24) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep23 to Sep24 |
= | 1071.5 | / | 8986.371 | |
= | 0.11923612 |
Gearing (Last Year: Sep23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Sep22 to Sep23 |
= | 1067.685 | / | 8517.7208 | |
= | 0.12534867 |
CoStar Group's gearing of this year was 0.11923612. CoStar Group's gearing of last year was 0.12534867.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Current Ratio (This Year: Sep24) | = | Total Current Assets | / | Total Current Liabilities |
= | 5195.1 | / | 539.4 | |
= | 9.63125695 |
Current Ratio (Last Year: Sep23) | = | Total Current Assets | / | Total Current Liabilities |
= | 5498.724 | / | 413.063 | |
= | 13.31207104 |
CoStar Group's current ratio of this year was 9.63125695. CoStar Group's current ratio of last year was 13.31207104.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
CoStar Group's number of shares in issue this year was 408. CoStar Group's number of shares in issue last year was 407.2.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Gross Margin (This Year: TTM) | = | Gross Profit | / | Revenue |
= | 2113 | / | 2666.9 | |
= | 0.79230567 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 1923.86 | / | 2388.346 | |
= | 0.8055198 |
CoStar Group's gross margin of this year was 0.79230567. CoStar Group's gross margin of last year was 0.8055198.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Asset Turnover (This Year) | = | Revenue | / | Total Assets at the Beginning of This Year (Sep23) |
= | 2666.9 | / | 8771.655 | |
= | 0.30403613 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Sep22) |
= | 2388.346 | / | 8205.863 | |
= | 0.2910536 |
CoStar Group's asset turnover of this year was 0.30403613. CoStar Group's asset turnover of last year was 0.2910536.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score | = | Que. 1 | + | Que. 2 | + | Que. 3 | + | Que. 4 | + | Que. 5 | + | Que. 6 | + | Que. 7 | + | Que. 8 | + | Que. 9 |
= | 1 | + | 1 | + | 0 | + | 1 | + | 1 | + | 0 | + | 0 | + | 0 | + | 1 | |
= | 5 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
CoStar Group has an F-score of 5 indicating the company's financial situation is typical for a stable company.
CoStar Group (NAS:CSGP) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Thank you for viewing the detailed overview of CoStar Group's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
John W Hill | director | 1997 ANNAPOLIS EXCHANGE PARKWAY, SUITE 410, ANNAPOLIS MD 21401 |
Lisa Ruggles | officer: Senior VP, Global Research | C/O COSTAR GROUP, INC., 1331 L STREET NW, WASHINGTON DC 20005 |
Michael J Desmarais | officer: Chief Human Resources Officer | C/O COSTAR GROUP, INC., 1331 L STREET NW, WASHINGTON DC 20005 |
Scott T Wheeler | officer: Chief Financial Officer | C/O COSTAR GROUP, INC., 1331 L STREET NW, WASHINGTON DC 20005 |
Christopher J Nassetta | director | 77 WEST WACKER DRIVE, SUITE 3900, CHICAGO IL 60601 |
Angelique G. Brunner | director | C/O CHESAPEAKE LODGING TRUST, 4300 WILSON BOULEVARD, SUITE 625, ARLINGTON VA 22203 |
Frank Simuro | officer: Chief Technology Officer | C/O COSTAR GROUP, INC., 1331 L STREET NW, WASHINGTON DC 20005 |
Frederick G. Saint | officer: President, Marketplaces | LOOPNET, INC., 181 W. HUNTINGTON DRIVE, SUITE 208, MONROVIA CA 91016 |
Andrew C Florance | director, officer: President and CEO | C/O COSTAR GROUP INC, 1331 L STREET, NW, WASHINGTON DC 20005 |
Michael R Klein | director | 2001 K STREET, N.W., SUITE 206, WASHINGTON DC 20006 |
Gene Boxer | officer: General Counsel and Secretary | 14 WESLEY STREET, HAMILTON D0 HM11 |
Kaplan Laura Cox | director | C/O COSTAR GROUP, INC., 1331 L STREET NW, WASHINGTON DC 20005 |
Matthew Linnington | officer: Executive Vice President Sales | C/O COSTAR GROUP, INC., 1331 L STREET NW, WASHINGTON DC 20005 |
David Jay Steinberg | director | C/O COSTAR GROUP, INC., 1331 L STREET, NW, WASHINGTON DC 20005 |
Robert W Musslewhite | director | 2445 M STREET, NW, WASHINGTON DC 20037 |
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