What is ZILLOW GROUP INC's earnings per share (EPS)?

ZILLOW GROUP INC (ZG) reported diluted earnings per share of $0.09 for fiscal year 2025. This represents a 118.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

ZILLOW GROUP INC (ZG) Financials

Trailing 12 months to June 30, 2026

Revenue $2.8B +17.7% YoY

Net Income $55.0M +188.7% YoY

EPS (Diluted) $0.22 +184.6% YoY

Free Cash Flow $258.0M -25.0% YoY

Market Cap $6.4B as of Oct 2, 2026

Price / Sales 2.3x on $2.8B revenue, trailing 12 months to June 30, 2026

Price / Earnings 116x on $55.0M net income, trailing 12 months to June 30, 2026

Price / Book 1.5x on $4.3B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 5, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ZG SEC filings page.

ZILLOW GROUP INC (ZG) reported $2.8B in revenue over the twelve months to Jun 30, 2026, up 17.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI ZG FY2025 2026-08-29

Operating expense absorption is bringing Zillow to break-even even as gross economics continue to weaken.

Revenue expanded from FY2023 to FY2025 while gross margin compressed from 78.4% to 74.1%. Operating margin nevertheless improved from -13.9% to -1.3%, implying that relatively contained operating expenses—not stronger unit economics—did most of the work.

FY2025 net income was $23M, while operating cash flow reached $368M. That gap means cash generation is currently better than GAAP profit suggests, although it did not translate dollar-for-dollar into free cash flow after $133M of capital spending.

Liabilities fell from $2.1B in FY2023 to $801M in FY2025, making the balance sheet less debt-dependent. That deleveraging coincided with $670M of stock repurchases, so capital structure improved while cash was returned rather than retained.

Financial Health Signals

Financial Health Score 57/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of ZILLOW GROUP INC's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

ZILLOW GROUP INC has an operating margin of -1.3%, meaning the company loses $1 on every $100 of revenue. This results in a profitability score of 20/100. This is up from -8.8% the prior year.

Growth

ZILLOW GROUP INC's revenue surged 15.5% year-over-year to $2.6B, reflecting rapid business expansion. This strong growth earns a score of 76/100.

Leverage

ZILLOW GROUP INC carries a low D/E ratio of 0.16, meaning only $0.16 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 77/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 3.13, ZILLOW GROUP INC holds $3.13 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 80/100.

Cash Flow

ZILLOW GROUP INC converts 9.1% of revenue into free cash flow ($235.0M). This strong cash generation earns a score of 67/100.

Returns

ZILLOW GROUP INC generates a 0.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 24/100. This is up from -2.3% the prior year.

Altman Z-Score Safe

5.07

ZILLOW GROUP INC scores 5.07, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($6.4B) relative to total liabilities ($801.0M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

6/7

ZILLOW GROUP INC passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 1 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

16.00x

For every $1 of reported earnings, ZILLOW GROUP INC generates $16.00 in operating cash flow ($368.0M OCF vs $23.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

N/A

ZILLOW GROUP INC reported an operating loss of $34.0M against $18.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$772.0M

YoY+17.9%

QoQ+9.0%

ZILLOW GROUP INC generated $772.0M in revenue in Q2 2026. This represents an increase of 17.9% from the same quarter a year earlier. Against the prior quarter it is up 9.0%.

EBITDA

$55.0M

YoY-1.8%

QoQ-45.5%

ZILLOW GROUP INC's EBITDA was $55.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1.8% from the same quarter a year earlier. Against the prior quarter it is down 45.5%.

Net Income

-$4.0M

YoY-300.0%

QoQ-108.7%

ZILLOW GROUP INC reported -$4.0M in net income in Q2 2026. This represents a decrease of 300.0% from the same quarter a year earlier. Against the prior quarter it is down 108.7%.

EPS (Diluted)

-$0.02

YoY-300.0%

QoQ-110.5%

ZILLOW GROUP INC earned -$0.02 per diluted share (EPS) in Q2 2026. This represents a decrease of 300.0% from the same quarter a year earlier. Against the prior quarter it is down 110.5%.

Cash & Balance Sheet

Free Cash Flow

-$25.0M

YoY-150.0%

QoQ-115.1%

ZILLOW GROUP INC recorded an outflow of $25.0M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 150.0% from the same quarter a year earlier. Against the prior quarter it is down 115.1%.

Cash & Debt

$572.0M

YoY-2.6%

QoQ-15.6%

5Y CAGR-31.2%

10Y CAGR+13.9%

ZILLOW GROUP INC held $572.0M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

Diluted avg 228M

ZILLOW GROUP INC had a weighted average of 228M diluted shares in Q2 2026; the shares outstanding count is not reported for that period.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

72.8%

YoY-1.9pp

QoQ-0.5pp

ZILLOW GROUP INC's gross margin was 72.8% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 1.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.5 percentage points.

Operating Margin

-1.3%

YoY+0.4pp

QoQ-6.4pp

ZILLOW GROUP INC's operating margin was -1.3% in Q2 2026, reflecting core business profitability. This is up 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 6.4 percentage points.

Net Margin

-0.5%

YoY-0.8pp

QoQ-7.0pp

ZILLOW GROUP INC's net profit margin was -0.5% in Q2 2026, showing the share of revenue converted to profit. This is down 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 7.0 percentage points.

Return on Equity

-0.1%

YoY-0.1pp

QoQ-1.1pp

ZILLOW GROUP INC's ROE was -0.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.1 percentage points.

Capital Allocation

R&D Spending

$156.0M

YoY+2.0%

QoQ+4.0%

ZILLOW GROUP INC invested $156.0M in research and development in Q2 2026. This represents an increase of 2.0% from the same quarter a year earlier. Against the prior quarter it is up 4.0%.

Share Buybacks

$200.0M

YoY+33.3%

QoQ-68.1%

ZILLOW GROUP INC spent $200.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 33.3% from the same quarter a year earlier. Against the prior quarter it is down 68.1%.

Capital Expenditures

$36.0M

YoY-2.7%

QoQ+5.9%

5Y CAGR+22.6%

10Y CAGR+7.8%

ZILLOW GROUP INC invested $36.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 2.7% from the same quarter a year earlier. Against the prior quarter it is up 5.9%.

ZG Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ZG quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K
Revenue	$2.8B	$2.6B+15.5%	$2.2B+15.0%	$1.9B-0.7%	$2.0B-8.2%	$2.1B+31.3%	$1.6B-40.8%	$2.7B+105.7%	$1.3B+23.8%	$1.1B+27.2%	$846.6M+31.3%	$644.7M+97.8%	$325.9M+65.0%	$197.5M
Cost of Revenue	$762.0M	$668.0M+26.8%	$527.0M+25.2%	$421.0M+14.7%	$367.0M+13.6%	$323.0M+26.7%	$255.0M-83.5%	$1.5B+905.3%	$153.6M+80.3%	$85.2M+23.0%	$69.3M+12.4%	$61.6M+109.1%	$29.5M+56.6%	$18.8M
Gross Profit	$2.0B	$1.9B+12.1%	$1.7B+12.1%	$1.5B-4.2%	$1.6B-12.1%	$1.8B+32.1%	$1.4B+14.2%	$1.2B+1.6%	$1.2B+19.0%	$991.6M+27.6%	$777.3M+33.3%	$583.1M+96.7%	$296.4M+65.9%	$178.7M
R&D Expenses	$611.0M	$607.0M+3.8%	$585.0M+4.5%	$560.0M+12.4%	$498.0M+18.3%	$421.0M+29.9%	$324.0M-7.7%	$350.9M-14.6%	$410.8M+28.4%	$320.0M+25.2%	$255.6M+28.7%	$198.6M+134.5%	$84.7M+74.6%	$48.5M
SG&A Expenses	$509.0M	$497.0M-5.2%	$524.0M-5.2%	$553.0M+11.0%	$498.0M+20.3%	$414.0M+27.8%	$324.0M-11.5%	$366.0M+39.6%	$262.2M+24.4%	$210.8M-36.5%	$332.0M+94.8%	$170.4M+160.2%	$65.5M+72.7%	$37.9M
Operating Income	$12.0M	-$34.0M+82.7%	-$197.0M+27.0%	-$270.0M-190.3%	-$93.0M-138.9%	$239.0M+119.3%	$109.0M+144.0%	-$247.5M-91.9%	-$129.0M+20.3%	-$161.9M+16.1%	-$192.9M-29.0%	-$149.5M-234.6%	-$44.7M-163.7%	-$16.9M
EBITDA	N/A	$230.0M+434.9%	$43.0M+151.8%	-$83.0M-229.7%	$64.0M-82.7%	$369.0M+67.7%	$220.0M+237.5%	-$160.0M-440.9%	-$29.6M+42.8%	-$51.7M+43.9%	-$92.3M-24.4%	-$74.1M-717.4%	-$9.1M-243.9%	$6.3M
Interest Expense	$18.0M	$18.0M-50.0%	$36.0M0.0%	$36.0M+2.9%	$35.0M-72.7%	$128.0M-7.2%	$138.0M+35.6%	$101.8M+146.7%	$41.3M+49.9%	$27.5M+271.4%	$7.4M+35.0%	$5.5M	N/A	N/A
Income Tax	$5.0M	$2.0M-60.0%	$5.0M+25.0%	$4.0M+33.3%	$3.0M+400.0%	-$1.0M+87.5%	-$8.0M-87.9%	-$4.3M+86.3%	-$31.1M+65.3%	-$89.6M-69012.3%	$130K+102.8%	-$4.6M	N/A	-$4.1M
Net Income	$55.0M	$23.0M+120.5%	-$112.0M+29.1%	-$158.0M-56.4%	-$101.0M+80.9%	-$528.0M-225.9%	-$162.0M+46.9%	-$305.4M-154.8%	-$119.9M-26.9%	-$94.4M+57.2%	-$220.4M-48.1%	-$148.9M-241.4%	-$43.6M-250.2%	-$12.5M
EPS (Basic)	N/A	$0.09+118.8%	-$0.48+29.4%	-$0.68-61.9%	-$0.42+80.1%	-$2.11-193.1%	-$0.72+51.4%	-$1.48	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	$0.22	$0.09+118.8%	-$0.48+29.4%	-$0.68-61.9%	-$0.42+79.2%	-$2.02-188.6%	-$0.70+52.7%	-$1.48	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	254M+8.6%	234M+0.2%	234M-3.5%	242M-7.5%	262M+13.1%	231M+12.1%	206M	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$772.0M+17.9%	$708.0M+18.4%	$654.0M+18.1%	$676.0M+16.4%	$655.0M+14.5%	$598.0M+13.0%	$554.0M+16.9%	$581.0M+17.1%
Cost of Revenue	$210.0M+26.5%	$189.0M+36.0%	$178.0M+32.8%	$185.0M+32.1%	$166.0M+27.7%	$139.0M+13.0%	$134.0M+16.5%	$140.0M+27.3%
Gross Profit	$562.0M+14.9%	$519.0M+13.1%	$476.0M+13.3%	$491.0M+11.3%	$489.0M+10.6%	$459.0M+13.1%	$420.0M+17.0%	$441.0M+14.2%
R&D Expenses	$156.0M+2.0%	$150.0M+0.7%	$154.0M+3.4%	$151.0M+4.1%	$153.0M+6.3%	$149.0M+1.4%	$149.0M+5.7%	$145.0M+2.1%
SG&A Expenses	$131.0M+8.3%	$123.0M+1.7%	$128.0M-7.2%	$127.0M+3.3%	$121.0M-7.6%	$121.0M-8.3%	$138.0M-5.5%	$123.0M-6.1%
Operating Income	-$10.0M+9.1%	$36.0M+500.0%	-$11.0M+84.1%	-$3.0M+93.3%	-$11.0M+71.1%	-$9.0M+80.0%	-$69.0M+34.3%	-$45.0M+15.1%
EBITDA	$55.0M-1.8%	$101.0M+80.4%	$54.0M+871.4%	$64.0M+255.6%	$56.0M+166.7%	$56.0M+409.1%	-$7.0M+86.5%	$18.0M+550.0%
Interest Expense	$6.0M+20.0%	$4.0M-20.0%	$5.0M-37.5%	$3.0M-66.7%	$5.0M-50.0%	$5.0M-44.4%	$8.0M-11.1%	$9.0M0.0%
Income Tax	$1.0M	$2.0M	$0-100.0%	$2.0M	$0-100.0%	$0-100.0%	$1.0M-66.7%	$0
Net Income	-$4.0M-300.0%	$46.0M+475.0%	$3.0M+105.8%	$10.0M+150.0%	$2.0M+111.8%	$8.0M+134.8%	-$52.0M+28.8%	-$20.0M+28.6%
EPS (Basic)	-$0.02-300.0%	$0.19+533.3%	$0.01+104.5%	$0.04+150.0%	$0.01+114.3%	$0.03+130.0%	-$0.22+31.3%	-$0.08+33.3%
EPS (Diluted)	-$0.02-300.0%	$0.19+533.3%	$0.01+104.5%	$0.04+150.0%	$0.01+114.3%	$0.03+130.0%	-$0.22+31.3%	-$0.08+33.3%
Diluted Shares (Avg)	228M-9.4%	240M-6.5%	N/A	256M+10.2%	252M+7.8%	256M+9.2%	N/A	233M-0.3%

ZG Balance Sheet

ZG quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K
Total Assets	$5.7B-2.5%	$5.8B-12.4%	$6.7B+1.4%	$6.6B-38.6%	$10.7B+42.9%	$7.5B+22.1%	$6.1B+42.9%	$4.3B+32.8%	$3.2B+2.6%	$3.1B+0.4%	$3.1B+382.6%	$649.7M	N/A
Current Assets	$2.1B-9.1%	$2.3B-25.9%	$3.1B-12.6%	$3.6B-53.1%	$7.7B+54.7%	$5.0B+41.4%	$3.5B+85.5%	$1.9B+124.9%	$841.5M+44.4%	$582.9M+1.5%	$574.1M+43.0%	$401.3M	N/A
Cash & Equivalents	$768.0M-29.0%	$1.1B-27.5%	$1.5B+1.8%	$1.5B-36.7%	$2.3B+35.9%	$1.7B+49.2%	$1.1B+75.3%	$651.1M+84.9%	$352.1M+44.5%	$243.6M+6.3%	$229.1M+82.2%	$125.8M-37.7%	$201.8M
Short-Term Investments	$527.0M-32.1%	$776.0M-41.1%	$1.3B-30.5%	$1.9B+268.9%	$514.0M-76.8%	$2.2B+73.2%	$1.3B+41.7%	$903.9M+120.2%	$410.4M+55.5%	$263.9M-9.4%	$291.2M+18.0%	$246.8M	$0
Accounts Receivable	$149.0M+43.3%	$104.0M+8.3%	$96.0M+33.3%	$72.0M-6.5%	$77.0M+10.1%	$69.9M+4.4%	$67.0M+1.4%	$66.1M+21.5%	$54.4M+34.2%	$40.5M+36.0%	$29.8M+59.4%	$18.7M	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$83.3M	$0
Goodwill	$2.8B0.0%	$2.8B+0.2%	$2.8B+18.7%	$2.4B0.0%	$2.4B+19.6%	$2.0B0.0%	$2.0B0.0%	$2.0B+2.8%	$1.9B+0.4%	$1.9B+0.7%	$1.9B+1881.5%	$96.4M	N/A
Total Liabilities	$801.0M-18.3%	$981.0M-53.9%	$2.1B+2.2%	$2.1B-61.1%	$5.4B+95.1%	$2.7B+1.8%	$2.7B+163.4%	$1.0B+79.7%	$569.7M-7.5%	$616.1M+34.9%	$456.6M+649.2%	$61.0M	N/A
Current Liabilities	$679.0M-18.3%	$831.0M-14.4%	$971.0M+259.6%	$270.0M-93.0%	$3.9B+327.2%	$908.6M-1.3%	$920.5M+220.2%	$287.5M+142.8%	$118.4M+21.7%	$97.2M+20.9%	$80.4M+63.5%	$49.2M	N/A
Non-Current Liabilities	$122.0M-18.7%	$150.0M-87.0%	$1.2B-36.2%	$1.8B+23.0%	$1.5B-19.8%	$1.8B+3.4%	$1.8B+141.2%	$736.4M+63.2%	$451.3M-13.0%	$518.8M+37.9%	$376.2M+3100.6%	$11.8M	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	$1.3B-18.2%	$1.6B+4.5%	$1.5B+120.8%	$699.0M+81.4%	$385.4M+4.9%	$367.4M+59.7%	$230.0M	N/A	N/A
Total Equity	$4.9B+0.7%	$4.8B+7.1%	$4.5B+1.0%	$4.5B-16.1%	$5.3B+12.6%	$4.7B+38.0%	$3.4B+5.1%	$3.3B+22.8%	$2.7B+5.0%	$2.5B-5.4%	$2.7B+355.0%	$588.8M+3.7%	$567.8M
Retained Earnings	-$1.9B+1.2%	-$1.9B-6.3%	-$1.8B-9.8%	-$1.6B+3.3%	-$1.7B-46.3%	-$1.1B-16.6%	-$977.1M-45.5%	-$671.8M-13.4%	-$592.2M-19.2%	-$497.0M-79.7%	-$276.6M-116.6%	-$127.7M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$5.3B-2.0%	$5.2B-9.0%	$5.7B-2.5%	$5.7B-7.5%	$5.4B-18.3%	$5.7B-15.8%	$5.8B-12.4%	$6.2B-7.5%
Current Assets	$1.7B-4.4%	$1.7B-23.0%	$2.1B-9.1%	$2.1B-20.6%	$1.8B-41.8%	$2.2B-35.2%	$2.3B-25.9%	$2.7B-26.1%
Cash & Equivalents	$572.0M-2.6%	$678.0M-25.8%	$768.0M-29.0%	$874.0M-18.5%	$587.0M-50.3%	$914.0M-36.5%	$1.1B-27.5%	$1.1B-41.9%
Short-Term Investments	$110.0M-80.7%	$105.0M-84.8%	$527.0M-32.1%	$515.0M-53.2%	$571.0M-60.5%	$689.0M-53.4%	$776.0M-41.1%	$1.1B-22.5%
Accounts Receivable	$175.0M+15.9%	$153.0M+33.0%	$149.0M+43.3%	$157.0M+34.2%	$151.0M+31.3%	$115.0M+15.0%	$104.0M+8.3%	$117.0M+20.6%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$2.8B0.0%	$2.8B0.0%	$2.8B0.0%	$2.8B+0.2%	$2.8B+0.2%	$2.8B+0.2%	$2.8B+0.2%	$2.8B+16.6%
Total Liabilities	$997.0M+48.8%	$818.0M-17.5%	$801.0M-18.3%	$706.0M-53.0%	$670.0M-68.5%	$992.0M-54.0%	$981.0M-53.9%	$1.5B-29.3%
Current Liabilities	$906.0M+65.9%	$724.0M-17.3%	$679.0M-18.3%	$584.0M-31.6%	$546.0M-63.1%	$875.0M-12.6%	$831.0M-14.4%	$854.0M-9.2%
Non-Current Liabilities	$91.0M-26.6%	$94.0M-19.7%	$122.0M-18.7%	$122.0M-81.2%	$124.0M-80.9%	$117.0M-89.9%	$150.0M-87.0%	$649.0M-45.3%
Total Equity	$4.3B-9.2%	$4.4B-7.3%	$4.9B+0.7%	$5.0B+7.2%	$4.7B+5.4%	$4.8B+1.9%	$4.8B+7.1%	$4.7B+2.8%
Retained Earnings	-$1.8B+2.9%	-$1.8B+3.3%	-$1.9B+1.2%	-$1.9B-1.7%	-$1.9B-3.4%	-$1.9B-4.5%	-$1.9B-6.3%	-$1.8B-7.8%

Not reported in any period shown, so not listed: Inventory, Long-Term Debt.

ZG Cash Flow Statement

ZG quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K
Operating Cash Flow	$388.0M	$368.0M-14.0%	$428.0M+20.9%	$354.0M-92.1%	$4.5B+241.8%	-$3.2B-851.1%	$423.0M+169.1%	-$612.2M-16000.6%	$3.9M-98.5%	$258.2M+2886.6%	$8.6M-61.8%	$22.7M-50.2%	$45.5M+45.4%	$31.3M
Depreciation & Amortization	N/A	$264.0M+10.0%	$240.0M+28.3%	$187.0M+19.1%	$157.0M+20.8%	$130.0M+17.1%	$111.0M+26.9%	$87.5M-12.0%	$99.4M-9.8%	$110.2M+9.5%	$100.6M+33.4%	$75.4M+111.6%	$35.6M+53.2%	$23.3M
Stock-Based Compensation	N/A	$390.0M-12.9%	$448.0M-0.7%	$451.0M0.0%	$451.0M+44.6%	$312.0M+58.4%	$197.0M-1.0%	$198.9M+33.4%	$149.1M+31.3%	$113.6M+6.2%	$106.9M+1.6%	$105.2M+208.7%	$34.1M+45.4%	$23.4M
Capital Expenditures	$130.0M	$133.0M-7.0%	$143.0M+5.9%	$135.0M+17.4%	$115.0M+55.4%	$74.0M-12.9%	$85.0M+26.8%	$67.0M+1.5%	$66.1M-1.0%	$66.7M+7.5%	$62.1M+17.8%	$52.7M+67.2%	$31.5M+42.9%	$22.0M
Free Cash Flow	$258.0M	$235.0M-17.5%	$285.0M+30.1%	$219.0M-95.0%	$4.4B+235.0%	-$3.3B-1061.8%	$338.0M+149.8%	-$679.2M-991.9%	-$62.2M-132.5%	$191.5M+458.4%	-$53.4M-77.9%	-$30.0M-314.4%	$14.0M+51.4%	$9.3M
Investing Cash Flow	$294.0M	-$6.0M-101.5%	$395.0M+1480.0%	$25.0M+101.6%	-$1.5B-240.9%	$1.1B+204.8%	-$1.0B-127.6%	-$456.1M+26.8%	-$622.6M-151.7%	-$247.4M-276.4%	-$65.7M	N/A	N/A	N/A
Financing Cash Flow	-$696.0M	-$674.0M+45.3%	-$1.2B-250.3%	-$352.0M+91.9%	-$4.3B-237.9%	$3.1B+170.7%	$1.2B-28.9%	$1.6B+75.9%	$930.1M+852.0%	$97.7M+36.6%	$71.5M	N/A	N/A	N/A
Share Buybacks	$1.1B	$670.0M+122.6%	$301.0M-29.0%	$424.0M-55.2%	$947.0M+213.6%	$302.0M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$11.0M-87.4%	$200.0M+92.3%	$72.0M-41.0%	$105.0M-38.6%	$87.0M+58.2%	$104.0M+30.0%	$122.0M+41.9%	$171.0M+128.0%
Depreciation & Amortization	$65.0M-3.0%	$65.0M0.0%	$65.0M+4.8%	$67.0M+6.3%	$67.0M+13.6%	$65.0M+16.1%	$62.0M+17.0%	$63.0M+28.6%
Stock-Based Compensation	$88.0M-11.1%	$81.0M-16.5%	N/A	$99.0M-8.3%	$99.0M-12.4%	$97.0M-10.2%	N/A	$108.0M-0.9%
Capital Expenditures	$36.0M-2.7%	$34.0M-5.6%	$28.0M-17.6%	$32.0M-3.0%	$37.0M0.0%	$36.0M-7.7%	$34.0M0.0%	$33.0M-5.7%
Free Cash Flow	-$25.0M-150.0%	$166.0M+144.1%	$44.0M-50.0%	$73.0M-47.1%	$50.0M+177.8%	$68.0M+65.9%	$88.0M+69.2%	$138.0M+245.0%
Investing Cash Flow	-$51.0M-166.2%	$376.0M+823.1%	-$50.0M-118.2%	$19.0M-94.2%	$77.0M+2666.7%	-$52.0M+74.5%	$274.0M+187.3%	$328.0M+28.6%
Financing Cash Flow	-$65.0M+86.7%	-$666.0M-204.1%	-$128.0M+66.8%	$163.0M+126.9%	-$490.0M-57.6%	-$219.0M-408.5%	-$386.0M-206.3%	-$607.0M-1138.8%
Share Buybacks	$200.0M+33.3%	$626.0M+150.4%	$232.0M	$38.0M	$150.0M-48.6%	$250.0M+2677.8%	$0-100.0%	$0-100.0%

Not reported in any period shown, so not listed: Dividends Paid.

ZG Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ZG quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K
Gross Margin	74.1%-2.3pp	76.4%-1.9pp	78.3%-2.9pp	81.3%-3.6pp	84.9%+0.6pp	84.3%+40.6pp	43.7%-44.8pp	88.5%-3.6pp	92.1%+0.3pp	91.8%+1.4pp	90.4%-0.5pp	91.0%+0.5pp	90.5%
Operating Margin	-1.3%+7.5pp	-8.8%+5.1pp	-13.9%-9.1pp	-4.8%-16.0pp	11.2%+4.5pp	6.7%+15.7pp	-9.0%+0.6pp	-9.7%+5.4pp	-15.0%+7.8pp	-22.8%+0.4pp	-23.2%-9.5pp	-13.7%-5.1pp	-8.6%
Net Margin	0.9%+5.9pp	-5.0%+3.1pp	-8.1%-3.0pp	-5.2%+19.6pp	-24.8%-14.8pp	-10.0%+1.1pp	-11.1%-2.1pp	-9.0%-0.2pp	-8.8%+17.3pp	-26.0%-3.0pp	-23.1%-9.7pp	-13.4%-7.1pp	-6.3%
Return on Equity	0.5%+2.8pp	-2.3%+1.2pp	-3.5%-1.2pp	-2.3%+7.6pp	-9.9%-6.5pp	-3.4%+5.5pp	-8.9%-5.2pp	-3.7%-0.1pp	-3.5%+5.1pp	-8.7%-3.1pp	-5.6%+1.9pp	-7.4%-5.2pp	-2.2%
Return on Assets	0.4%+2.3pp	-1.9%+0.5pp	-2.4%-0.8pp	-1.5%+3.4pp	-4.9%-2.8pp	-2.2%+2.8pp	-5.0%-2.2pp	-2.8%+0.1pp	-2.9%+4.1pp	-7.0%-2.3pp	-4.8%+2.0pp	-6.7%	N/A
Current Ratio	3.13+0.3x	2.81-0.4x	3.24-10.1x	13.34+11.4x	1.98-3.5x	5.46+1.7x	3.81-2.8x	6.58-0.5x	7.11+1.1x	5.99-1.1x	7.14-1.0x	8.16	N/A
Debt-to-Equity	0.160.0x	0.20-0.3x	0.470.0x	0.46+0.2x	0.25-0.1x	0.34-0.1x	0.45+0.2x	0.21+0.1x	0.140.0x	0.14+0.1x	0.090.0x	0.10	N/A
Asset Turnover	0.45+0.1x	0.38+0.1x	0.290.0x	0.30+0.1x	0.200.0x	0.22-0.2x	0.45+0.1x	0.310.0x	0.33+0.1x	0.27+0.1x	0.21-0.3x	0.50	N/A
FCF Margin	9.1%-3.7pp	12.8%+1.5pp	11.3%	224.2%	-152.5%	20.8%+45.6pp	-24.8%-20.1pp	-4.7%-22.4pp	17.8%+24.1pp	-6.3%-1.7pp	-4.7%-9.0pp	4.3%-0.4pp	4.7%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	72.8%-1.9pp	73.3%-3.4pp	72.8%-3.0pp	72.6%-3.3pp	74.7%-2.6pp	76.8%0.0pp	75.8%+0.1pp	75.9%-1.9pp
Operating Margin	-1.3%+0.4pp	5.1%+6.6pp	-1.7%+10.8pp	-0.4%+7.3pp	-1.7%+5.0pp	-1.5%+7.0pp	-12.4%+9.7pp	-7.8%+2.9pp
Net Margin	-0.5%-0.8pp	6.5%+5.2pp	0.5%+9.8pp	1.5%+4.9pp	0.3%+3.3pp	1.3%+5.7pp	-9.4%+6.0pp	-3.4%+2.2pp
Return on Equity	-0.1%-0.1pp	1.0%+0.9pp	0.1%+1.1pp	0.2%+0.6pp	0.0%+0.4pp	0.2%+0.7pp	-1.1%+0.5pp	-0.4%+0.2pp
Return on Assets	-0.1%-0.1pp	0.9%+0.7pp	0.1%+0.9pp	0.2%+0.5pp	0.0%+0.3pp	0.1%+0.5pp	-0.9%+0.2pp	-0.3%+0.1pp
Current Ratio	1.92-1.4x	2.29-0.2x	3.13+0.3x	3.63+0.5x	3.34+1.2x	2.46-0.9x	2.81-0.4x	3.13-0.7x
Debt-to-Equity	0.23+0.1x	0.190.0x	0.160.0x	0.14-0.2x	0.14-0.3x	0.21-0.3x	0.20-0.3x	0.32-0.1x
Asset Turnover	0.150.0x	0.140.0x	0.120.0x	0.120.0x	0.120.0x	0.100.0x	0.100.0x	0.090.0x
FCF Margin	-3.2%-10.9pp	23.4%+12.1pp	6.7%-9.2pp	10.8%-13.0pp	7.6%+4.5pp	11.4%+3.6pp	15.9%+4.9pp	23.8%+15.7pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
ZILLOW GROUP INC ZG	FY2025	$2.6B	$23.0M	0.9%	$6.4B	57/100
Zillow Group, Inc. Z	FY2025	$2.6B	$23.0M	0.9%	$6.2B	57/100
Nebius Group N.V. NBIS	FY2025	$529.8M	$82.5M	15.6%	$63.1B	61/100
Pinterest, Inc. PINS	FY2025	$4.2B	$416.9M	9.9%	$11.0B	70/100
Baidu, Inc. BIDU	FY2025	$18.5B	$799.0M	4.3%	$29.1B	34/100
Snap Inc. SNAP	FY2025	$5.9B	-$460.5M	-7.8%	$9.6B	50/100

Where ZILLOW GROUP INC Ranks

Frequently Asked Questions

What is ZILLOW GROUP INC's annual revenue?

ZILLOW GROUP INC (ZG) reported $2.6B in total revenue for fiscal year 2025. This represents a 15.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is ZILLOW GROUP INC's revenue growing?

ZILLOW GROUP INC (ZG) revenue grew by 15.5% year-over-year, from $2.2B to $2.6B in fiscal year 2025.

Is ZILLOW GROUP INC profitable?

Yes, ZILLOW GROUP INC (ZG) reported a net income of $23.0M in fiscal year 2025, with a net profit margin of 0.9%.

What is ZILLOW GROUP INC's EBITDA?

ZILLOW GROUP INC (ZG) had EBITDA of $230.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is ZILLOW GROUP INC's gross margin?

ZILLOW GROUP INC (ZG) had a gross margin of 74.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is ZILLOW GROUP INC's operating margin?

ZILLOW GROUP INC (ZG) had an operating margin of -1.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is ZILLOW GROUP INC's net profit margin?

ZILLOW GROUP INC (ZG) had a net profit margin of 0.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is ZILLOW GROUP INC's return on equity (ROE)?

ZILLOW GROUP INC (ZG) has a return on equity of 0.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is ZILLOW GROUP INC's free cash flow?

ZILLOW GROUP INC (ZG) generated $235.0M in free cash flow during fiscal year 2025. This represents a -17.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is ZILLOW GROUP INC's operating cash flow?

ZILLOW GROUP INC (ZG) generated $368.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are ZILLOW GROUP INC's total assets?

ZILLOW GROUP INC (ZG) had $5.7B in total assets as of fiscal year 2025, including both current and long-term assets.

What are ZILLOW GROUP INC's capital expenditures?

ZILLOW GROUP INC (ZG) invested $133.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does ZILLOW GROUP INC spend on research and development?

ZILLOW GROUP INC (ZG) invested $607.0M in research and development during fiscal year 2025.

Does ZILLOW GROUP INC buy back shares?

Yes, ZILLOW GROUP INC (ZG) spent $670.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is ZILLOW GROUP INC's current ratio?

ZILLOW GROUP INC (ZG) had a current ratio of 3.13 as of fiscal year 2025, which is generally considered healthy.

What is ZILLOW GROUP INC's debt-to-equity ratio?

ZILLOW GROUP INC (ZG) had a debt-to-equity ratio of 0.16 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is ZILLOW GROUP INC's return on assets (ROA)?

ZILLOW GROUP INC (ZG) had a return on assets of 0.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is ZILLOW GROUP INC's P/E ratio?

ZILLOW GROUP INC (ZG) trades at 116x earnings, its market capitalization divided by net income of $55.0M net income, trailing 12 months to June 30, 2026. The market capitalization is $6.4B as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is ZILLOW GROUP INC's price-to-sales ratio?

ZILLOW GROUP INC (ZG) trades at 2.3x sales, its market capitalization divided by revenue of $2.8B revenue, trailing 12 months to June 30, 2026. The market capitalization is $6.4B as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is ZILLOW GROUP INC's Altman Z-Score?

ZILLOW GROUP INC (ZG) has an Altman Z-Score of 5.07, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is ZILLOW GROUP INC's Piotroski F-Score?

ZILLOW GROUP INC (ZG) has a Piotroski F-Score of 6 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are ZILLOW GROUP INC's earnings high quality?

ZILLOW GROUP INC (ZG) has an earnings quality ratio of 16.00x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can ZILLOW GROUP INC cover its interest payments?

ZILLOW GROUP INC (ZG) reported an operating loss of $34.0M against $18.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is ZILLOW GROUP INC?

ZILLOW GROUP INC (ZG) scores 57 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.