CSGP
CoStar Group, Inc.
Is CSGP Halal?
Commercial-real-estate information, analytics, software and marketplaces are generally permissible, and the current asset-based financial ratios pass; business-revenue allocation remains incomplete.
What You Should Know
CoStar Group's March 31, 2026 Form 10-Q reports $10,164 million of total assets, $994 million of interest-bearing debt, $1,215 million of cash and equivalents, $269 million of net accounts receivable and $897 million of quarterly revenue. Those inputs produce debt/assets of 9.78%, liquidity of 11.95%, receivables plus cash/assets of 14.60% and disclosed net interest income/revenue of 1.11%, so the examined asset-based financial screens pass. CoStar's commercial- and residential-real-estate information, analytics, subscription software, online marketplaces and spatial-data services are generally permissible at the activity level, but the filing does not allocate a universal prohibited-revenue numerator by customer, listing, advertising content or end use. This is a current ZakatInvest calculation, not an index-membership claim.
⚠️ Concerns
- •Debt/assets of 9.78% and liquidity of 11.95% pass the examined asset-based limits, but acquisitions, repurchases and cash deployment can change the screen
- •The filing reports $10 million of net interest income, or 1.11% of revenue; no fixed scholar-approved purification rate is asserted
- •Marketplace listings and advertising cover broad property and customer uses; customer end use and platform-content treatment remain qualitative diligence topics
- •CoStar Suite serves lenders, investors and financial-services customers, so analytics use and customer mix warrant look-through review
- •Matterport and Domain acquisitions, Homes.com marketing investment and spatial-data integration can change the consolidated business perimeter
- •Market-cap denominator methods are not calculated without a licensed historical market-cap series
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
994 / 10,164
1,215 / 10,164
1,484 / 10,164
10 / 897
- Financial
- Pass
- Overall
- Incomplete
Debt is 9.78%, liquidity is 11.95%, receivables plus cash are 14.60% and disclosed interest income is 1.11%; the examined financial ratios pass, while business revenue remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity, receivables plus cash and disclosed interest income pass the examined total-assets limits; no universal prohibited-revenue numerator is disclosed. This is a calculation against the named method, not an index-membership claim.
- Financial
- Pass
- Overall
- Incomplete
Debt is 9.78% and identifiable liquidity is 11.95% of total assets; the information-services activity is generally permissible, but screened business revenue remains undisclosed. This is a calculation against SAC ratios, not an official classification of a U.S.-listed security.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible historical market-cap series is not stored, so these methods are not estimated from a current spot price.
Business-activity disclosure
CoStar Group provides commercial- and residential-real-estate information, analytics, subscription software, online marketplaces and 3D spatial-data tools. These general-purpose information, software and marketplace services are generally permissible at the activity level.
Limitation: Public revenue categories do not isolate a reproducible prohibited-revenue numerator by customer, property listing, advertising content, lender use or end use, so no unsupported haram-revenue percentage is estimated.
Purification
Disclosed interest income is 1.11% of quarterly revenue and passes the examined income threshold, but no fixed scholar-approved purification rate is asserted and business-revenue allocation remains incomplete.
Inputs, assumptions and primary sources
- Assets use CoStar Group's consolidated total assets of $10,164 million at March 31, 2026.
- Interest-bearing debt uses the $994 million carrying amount of the 2.800% Senior Notes, net of unamortized discount and issuance costs. No revolving-credit balance was outstanding at March 31, 2026; lease liabilities and other liabilities are not silently added as conventional debt.
- Cash uses $1,215 million of cash and cash equivalents. Restricted cash of $101 million is excluded because the filing identifies it as collateral for a litigation bond. No separately identified interest-bearing securities balance is entered to avoid double counting cash equivalents.
- Accounts receivable uses the reported $269 million net balance; income-tax receivables are not silently treated as trade receivables.
- Quarterly revenue uses $897 million for the three months ended March 31, 2026. The filing separately reports $10 million of net interest income, or 1.11% of revenue.
- The filing reports marketplace, information, analytics, advertising and spatial-data services but does not allocate a universal prohibited-revenue numerator by customer, listing, property, content or end use.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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