Zillow Group, Inc.ZG
NasdaqGS•Communication Services•Internet Content & Information
Zillow Group operates a real estate application and website that connects consumers with technology, agents and loan officers, and digital solutions in the United States. The company operates through four categories: Residential, Mortgages, Rentals, and Other. The Residential segment includes agent and software, as well as new construction marketing solutions and StreetEasy for sale products. This segment also offers advertising and marketing solutions for real estate agents, premier agent, SaaS customer relationship management, real estate transaction management, appointment center, and enhanced listing services. The Rentals segment includes advertising and a suite of tools for property managers, landlords, and other rental professionals, as well as rental applications. The Mortgages segment provides mortgage originations through Zillow Home Loans and advertising to mortgage lenders and other mortgage professionals; and title and escrow services. The company also generates revenue from display advertising. It also offers a brand portfolio including Zillow, Zillow Premier Agent, Zillow Rentals, Zillow New Construction, Trulia, StreetEasy, Out East, HotPads, Follow Up Boss, ShowingTime, dotloop and Zillow Closing; and a suite of marketing software and technology solutions for the real estate industry. Zillow Group, Inc. was founded in 2004 and is headquartered in Seattle, Washington.
Zillow Group, Inc. (ZG) reported trailing twelve months revenue of $2.69B as of March 2026, a 16.8% increase year-over-year. Quarterly revenue reached $708.00M, reflecting continued top-line momentum.
Zillow Group, Inc. generated $61.00M in TTM net income, with quarterly EBITDA of $101.00M. The operating margin expanded from -1.5% to 5.1%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (5.1%) and net margin (6.5%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 1.3% a year ago, signaling stronger bottom-line efficiency.
ZG trades at a P/E of 157.0x (a premium multiple) and a P/S of 3.6x. The price-to-book ratio of 2.2x reflects a moderate premium to book value.
The company generated $166.00M in free cash flow over the trailing twelve months, a 144.1% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $5.23B in total assets with no in long-term debt against $4.41B in stockholders equity for a debt-to-equity ratio of 0.0, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging -3.4%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~30.0% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.0 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation