CoStar Group management check

CSGP · Real Estate · Real Estate Services · CEO Andrew C. Florance

Filings as of

52
Management score, ranked 413th of 487Strongest: clean books. Weakest: CEO cost. See the best and worst run in Real Estate →

2 good · 4 to watch · 1 flagged, across the seven questions below.

  • Watch

    Have owners done well?

    Trailed its chosen peers

    $100 invested at the start of fiscal 2021 grew to $112, against $123 for the peer group the company picked itself.

  • Watch

    Does pay follow performance?

    Pay only loosely tracked returns

    Over 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.02 with shareholder return. 1 means pay moved in step; below 0, the opposite way.

  • Flag

    What does the CEO cost owners?

    560.5% of net income

    $36.4m of reported pay in fiscal 2025, against $6.5m of net income.

  • Good

    Do they own the stock?

    Insiders are buying

    The CEO holds 1,722,865.03 shares, directly or through trusts (unvested awards not counted): about 1.7 years of pay. 1 insider bought $5.0m on the open market in the last six months, with their own money, near the lows. Sales: $253k.

  • Watch

    Are owners being diluted?

    Share count growing

    Diluted shares changed +1.7% a year over the last three fiscal years. Stock-based pay was 6.0% of revenue in the latest year.

  • Watch

    Is leadership stable?

    10 leadership filings in 3 years

    CEO in the pay table: Andrew C. Florance. 10 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.

  • Good

    Are the books clean?

    No red flags on file

    No restatements, auditor changes or late filings since 2021.

Against the S&P 500

Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Real Estate.

CheckScoreAt or aboveSector median
Owner returns4044%45
Pay for performance5113%86
CEO cost016%23
Skin in the game6671%32
Dilution2915%23
Stable leadership7550%85
Clean books100100%100

Closest peers

Others in Real Estate Services, by management score. CoStar Group is 24th of 29 in its sector.

  1. 128CBRECBRE Group74
  2. 383DLRDigital Realty55
  3. 400ESSEssex Property Trust53
  4. 413CSGPCoStar Group52
  5. 436CPTCamden Property Trust48
  6. 440AREAlexandria Real Estate Equities48

Pay versus performance

From the proxy statement filed April 30, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.

CEO pay by fiscal yearAs reported Actually paid
$0$18.7m$37.4m20212022202320242025
What $100 becameCompany Peer group
$10020212022202320242025$112
Fiscal yearCEOCEO payActually paidOther executives (avg)$100 becamePeersNet income
2025Andrew C. Florance$36.4m$33.2m$8.1m$112$123$6.5m
2024—$37.4m$8.2m$8.2m$120$119$138.7m
2023—$29.2m$28.6m$7.3m$146$113$374.7m
2022—$19.4m$16.2m$5.6m$129$101$369.5m
2021—$22.2m$11.4m$6.6m$132$137$292.6m

The board says pay is tied most to EBITDA. Its other key measures: Revenue, Relative TSR, Net Income.

Insiders and the CEO's stake

Andrew C Florance (President and CEO) held 1,722,865.03 shares directly after their latest Form 4 on May 1, 2026, roughly $61.7m at that filing's price.

1 insider bought $5.0m on the open market in the last six months, with their own money, near the lows. Sales: $253k.

  • BoughtAndrew C FloranceFounder and CEO$5.0mAug 4, 2026
  • SoldCynthia Cammett CannChief Accounting Officer$147kAug 7, 2026
  • SoldJohn W HillDirector$106kAug 5, 2026

Leadership and governance on file

Latest shareholder vote results: Jun 25, 2026, including the say-on-pay vote.

Where the money went

Over 2021–2025: $500.0m returned to owners in buybacks and dividends, 42% of net income, and $506.9m of pay in stock.

Fiscal year20212022202320242025
Revenue$1.9bn$2.2bn$2.5bn$2.7bn$3.2bn
Net income$292.6m$369.5m$374.7m$138.7m$6.5m
Stock-based pay$63.7m$75.2m$85.0m$89.0m$194.0m
Buybacks——$0$0$500.0m
Dividends—————
Diluted shares394m398m407m408m421m

Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.