TIVP68 (Video): CoStar Group (CSGP): The Real Estate Empire Making a $5 Billion Bet w/ Shawn O'Malley & Daniel Mahncke

Shawn O'Malley and Daniel Mahncke explore CoStar Group (ticker: CSGP), the dominant provider of commercial real estate data and analytics, and assess whether the company's massive $5 billion bet on Homes.com can successfully crack the residential real estate market dominated by Zillow, or whether this ambitious expansion will destroy shareholder value.

IN THIS EPISODE YOU’LL LEARN: (00:00:00) Intro (00:01:42) Why the company has delivered nearly 60 consecutive quarters of double-digit revenue growth (00:09:17) How CoStar built a dominant, near-monopoly position in commercial real estate data and analytics (00:18:30) How CoStar generates roughly 50% profit margins on its core B2B business (00:44:12) What makes CoStar's data moat so durable and difficult for competitors to replicate (00:48:12) How the company's acquisition-driven strategy has fueled decades of growth (00:56:22) Why CoStar is investing $5 billion into Homes.com to take on Zillow and Realtor.com 00:58:21) Competitive landscape in the residential real estate marketplace (01:08:41) Whether CoStar's massive residential bet will pay off or destroy shareholder value (01:23:57) How Shawn and Daniel value CoStar and whether CSGP belongs in the portfolio

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

• Join ⁠⁠The Intrinsic Value Conference⁠⁠ in Omaha this May 1, 2026!
• Learn how to join us in Omaha for the Berkshire meeting ⁠⁠⁠here⁠⁠⁠.
• Join the exclusive ⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Shawn, Kyle, Daniel, and the other community members.
• Track ⁠The Intrinsic Value Portfolio⁠.
• Costar pitch on the ⁠Value Investors Club⁠.
• Drew Cohen’s⁠ podcast on CoStar⁠.
• Follow Daniel on ⁠⁠X⁠⁠ and ⁠⁠Linkedin⁠⁠.
• Follow Shawn on ⁠⁠X⁠⁠ and ⁠⁠Linkedin⁠⁠.
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