Costar Group Inc (CSGP) is overvalued and IHS Holding Ltd (IHS) is undervalued.
Against our estimates of intrinsic value, IHS trades at the wider discount: a margin of safety of +79%, against -124% for CSGP.
Values as of the 19 Oct 2026 close.
Its through-the-cycle earnings (17.4% median margin), capitalised at 9.0% with no growth, values the shares at $14.21; the price of $31.81 is 124% above that value.
Leak Score 36/100 on 12 of 12 signals
Discounting its cash flows at 7.4% (average of 3 methods) values the shares at $40.18; the price of $8.43 is 79% below that value, and 82% of that value comes from beyond year five.
Leak Score 88/100 on 9 of 12 signals
| Metric | CSGP | IHS |
|---|---|---|
| Verdict | Overvalued | Undervalued |
| Price | $31.81 | $8.43 |
| Intrinsic value | $14.21 | $40.18 |
| Margin of safety | -124% | +79% |
| Leak Score | 36/100 (12/12) | 88/100 (9/12) |
| Market cap | $13.4B | $2.9B |
| Revenue growth, 5 years | 14.4% | 2.4% |
| Operating margin | 2.4% | 33.4% |
| Net margin | 2.1% | 9.2% |
| Return on equity | 0.9% | — |
| Debt to equity | 0.15 | — |
| P/E | 181.9x | 20.1x |
| Forward P/E | 19.3x | 10.0x |
| P/B | 1.7x | — |
| Dividend yield | — | 2.1% |