MARKETS / NASDAQ / Z

NASDAQ · SERVICES-BUSINESS SERVICES, NEC · LARGE CAP

Zillow Group, Inc. Z

13 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$2.6B

▲ 15.5% YoY

Net income

$23.0M

Free cash flow

$235.0M

▼ 17.5% YoY

In brief

What this company does

Zillow connects consumers with real estate agents and loan officers, and provides technology and digital services used across residential real estate transactions. It maintains a database of approximately 173 million U.S. homes. Through the Zestimate, its automated valuation model, it provides home value estimates. During 2025, the Zestimate feature had a median error rate of 1.8% for homes listed for sale and 7.2% for off-market homes. Zillow Home Loans, available in 49 states and the District of Columbia, originates mortgage loans and generally sells them on the secondary market. In 2025, Zillow Rentals had 2.4 million average monthly active rental listings, ranging from single family homes to large apartment complexes. As of December 31, 2025, the company had 7,068 employees. As of December 31, 2025, it had 224 patents issued and 225 patent applications pending in the United States and internationally.

Written from the business description in ZILLOW GROUP, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 11 February 2026. Every sentence was checked against that document before publication.

Growth

USD 2.6B

Revenue, FY2025 · full 13-year series below

Revenue $B Net income $B

FY2025 · Revenue 2.6 · Net income 0.0

Compound annual growth

Revenue

+9.7%

+14.9%

Returned to shareholders

−18.8%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +9.7% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

1 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating -1.3% · Net 0.9%

ROE

FY2025 · ROE 0.5%

Gross margin74.1%

Operating margin-1.3%

Net margin0.9%

Return on assets0.4%

EBITDAUSD 230.0M

Each USD of equity produced 0 cents of profit this year.

Cash & shareholders

USD 482.0M

returned in FY2025 · dividends + net buybacks

Free cash flow $B

FY2025 · FCF 0.2

Net buybacks $M Dividends $M

FY2025 · Dividends — · Net buybacks 482.0

Dividends paid—

Net buybacksUSD 482.0M

Share of profit2095.7%

Consecutive raises—

USD 482.0M in buybacks — 2096% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 5.7B

EquityUSD 4.9B

CashUSD 768.0M

Current ratio3.13×

Equity funds 86% of total assets.

The 13-year record

13 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Revenue $B	2.6	2.2	1.9	2.0	2.1	1.6	2.7	1.3	1.1	0.8	0.6	0.3	0.2
Operating income $B	−0.0	−0.2	−0.3	−0.1	0.2	0.1	−0.2	−0.1	−0.2	−0.2	−0.1	−0.0	−0.0
EBITDA $B	0.2	0.0	−0.1	0.1	0.4	0.2	−0.2	−0.0	−0.1	−0.1	−0.1	−0.0	0.0
Income tax $B	0.0	0.0	0.0	0.0	−0.0	−0.0	−0.0	−0.0	−0.1	0.0	−0.0	·	−0.0
Net income $B	0.0	−0.1	−0.2	−0.1	−0.5	−0.2	−0.3	−0.1	−0.1	−0.2	−0.1	−0.0	−0.0
Free cash flow $B	0.2	0.3	0.2	4.4	−3.3	0.3	−0.7	−0.1	0.2	−0.1	−0.0	0.0	0.0
EPS, diluted $	0.09	−0.48	−0.68	−0.42	−2.02	−0.70	−1.48	−0.61	−0.51	−1.22	−0.88	−0.36	−0.12
Dividend / sh $	·	·	·	·	·	·	·	·	·	·	·	·	·
Payout %	·	·	·	·	·	·	·	·	·	·	·	·	·
ROE %	0.5	−2.4	−3.5	−2.1	−10.5	−4.0	−9.1	−4.0	−3.6	−8.5	−9.1	−7.5	−2.2
Shares out B	·	0.18	0.17	0.17	0.18	0.17	0.14	0.14	0.13	0.12	0.12	0.08	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 57 reconciliationsAUDITED

Reconciled in 13 of 19 fiscal years. 32 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityServices-Business Services, NEC

Listed onNASDAQ

Incorporated inWashington

Fiscal year endsDecember 31

Data on record since2013