COSTAR GROUP, INC. Earnings Per Share Disclosure
Year Ended December 31, | |||||||||||||||||
2025 | 2024 | 2023 | |||||||||||||||
Numerator: | |||||||||||||||||
Net income | $ | 7 | $ | 139 | $ | 375 | |||||||||||
Denominator: | |||||||||||||||||
Denominator for basic earnings per share — weighted-average outstanding shares | 416.8 | 406.3 | 405.3 | ||||||||||||||
Effect of dilutive securities: | |||||||||||||||||
Stock options, restricted stock awards and restricted stock units | 3.9 | 1.5 | 1.6 | ||||||||||||||
Denominator for diluted earnings per share — weighted-average outstanding shares | 420.7 | 407.8 | 406.9 | ||||||||||||||
Earnings per share — basic | $ | 0.02 | $ | 0.34 | $ | 0.92 | |||||||||||
Earnings per share — diluted | $ | 0.02 | $ | 0.34 | $ | 0.92 | |||||||||||
Year Ended December 31, | |||||||||||||||||
2025 | 2024 | 2023 | |||||||||||||||
Performance-based restricted stock awards | 0.1 | 0.1 | 0.2 | ||||||||||||||
Anti-dilutive securities | 1.7 | 0.8 | 0.7 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 20, 2025 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.