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TIVP068: COSTAR GROUP (CSGP): THE REAL ESTATE DATA EMPIRE MAKING A $5 BILLION BET
W/ SHAWN O’MALLEY & DANIEL MAHNCKE
TIVP068: COSTAR GROUP (CSGP): THE REAL ESTATE DATA EMPIRE MAKING A $5 BILLION BET W/ SHAWN O’MALLEY & DANIEL MAHNCKE
26 April 2026
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.
Information about the TIVP Mini Conference at the Berkshire Hathaway Shareholder meeting:
On Friday, May 1st, Shawn and Daniel will host The Intrinsic Value Conference in Omaha during the Berkshire Hathaway Shareholder Meeting. They will give a special stock pitch presentation followed by a Q&A session, and a private dinner for members of The Intrinsic Value Community.
In addition to the VIP Spots for members, a limited number of free spots will be available on a first-come, first-served basis. The conference is at the Hotel Indigo in downtown Omaha at 1 pm local time.
SUBSCRIBE
IN THIS EPISODE, YOU’LL LEARN:
- How CoStar built a dominant, near-monopoly position in commercial real estate data and analytics
- Why the company has delivered nearly 60 consecutive quarters of double-digit revenue growth
- How CoStar generates roughly 50% profit margins on its core B2B business
- Why CoStar is investing $5 billion into Homes.com to take on Zillow and Realtor.com
- What makes CoStar’s data moat so durable and difficult for competitors to replicate
- How the company’s acquisition-driven strategy has fueled decades of growth
- What the competitive landscape looks like in the residential real estate marketplace
- Whether CoStar’s massive residential bet will pay off or destroy shareholder value
- How Shawn and Daniel value CoStar and whether CSGP belongs in the Intrinsic Value Portfolio
- And much, much more!
For the full show notes, go to this page.
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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.
- Related books mentioned in the podcast.
- Ad-free episodes on our Premium Feed.
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