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Stocks · Industrials · Services-Business Services, NEC

ZILLOW GROUP, INC.

Z Clue Score41
United States Fiscal year ends December CIK 0001617640
$29.01 -0.55% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $29.01 −67.76% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue0.85Operating income−0.19Net income−0.22Fiscal year 2017Revenue1.08 +27.2%Operating income−0.16Net income−0.09Fiscal year 2018Revenue1.33 +23.8%Operating income−0.13Net income−0.12Fiscal year 2019Revenue2.74 +105.7%Operating income−0.25Net income−0.31EPS, diluted−1.48Fiscal year 2020Revenue1.62 −40.8%Operating income0.11Net income−0.16EPS, diluted−0.70Fiscal year 2021Revenue2.13 +31.3%Operating income0.24Net income−0.53EPS, diluted−2.02Fiscal year 2022Revenue1.96 −8.2%Operating income−0.09Net income−0.10EPS, diluted−0.42Fiscal year 2023Revenue1.95 −0.7%Operating income−0.27Net income−0.16EPS, diluted−0.68Fiscal year 2024Revenue2.24 +15.0%Operating income−0.20Net income−0.11EPS, diluted−0.48Fiscal year 2025Revenue2.58 +15.5%Operating income−0.03Net income0.02EPS, diluted0.09
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 0.85 1.08 1.33 2.74 1.62 2.13 1.96 1.95 2.24 2.58
Growth +27.2% +23.8% +105.7% −40.8% +31.3% −8.2% −0.7% +15.0% +15.5%
Operating income −0.19 −0.16 −0.13 −0.25 0.11 0.24 −0.09 −0.27 −0.20 −0.03
Net income −0.22 −0.09 −0.12 −0.31 −0.16 −0.53 −0.10 −0.16 −0.11 0.02
Growth
EPS, diluted n/a n/a n/a −1.48 −0.70 −2.02 −0.42 −0.68 −0.48 0.09
Growth

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Operating margin−22.8%Net margin−26.0%Free cash flow margin−6.3%Fiscal year 2017Operating margin−15.0%Net margin−8.8%Free cash flow margin17.8%Fiscal year 2018Operating margin−9.7%Net margin−9.0%Free cash flow margin−4.7%Fiscal year 2019Gross margin43.7%Operating margin−9.0%Net margin−11.1%Free cash flow margin−24.8%Fiscal year 2020Gross margin84.3%Operating margin6.7%Net margin−10.0%Free cash flow margin20.8%Fiscal year 2021Gross margin84.8%Operating margin11.2%Net margin−24.8%Free cash flow margin−152.5%Fiscal year 2022Gross margin81.3%Operating margin−4.7%Net margin−5.2%Free cash flow margin224.2%Fiscal year 2023Gross margin78.4%Operating margin−13.9%Net margin−8.1%Free cash flow margin11.3%Fiscal year 2024Gross margin76.4%Operating margin−8.8%Net margin−5.0%Free cash flow margin12.7%Fiscal year 2025Gross margin74.1%Operating margin−1.3%Net margin0.9%Free cash flow margin9.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a n/a n/a 43.7% 84.3% 84.8% 81.3% 78.4% 76.4% 74.1%
Operating margin −22.8% −15.0% −9.7% −9.0% 6.7% 11.2% −4.7% −13.9% −8.8% −1.3%
Net margin −26.0% −8.8% −9.0% −11.1% −10.0% −24.8% −5.2% −8.1% −5.0% 0.9%
Free cash flow margin −6.3% 17.8% −4.7% −24.8% 20.8% −152.5% 224.2% 11.3% 12.7% 9.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.01Capital expenditure−0.06Free cash flow−0.05Fiscal year 2017Operating cash flow0.26Capital expenditure−0.07Free cash flow0.19Fiscal year 2018Operating cash flow0.00Capital expenditure−0.07Free cash flow−0.06 −132.5%Fiscal year 2019Operating cash flow−0.61Capital expenditure−0.07Free cash flow−0.68Buybacks0.00Fiscal year 2020Operating cash flow0.42Capital expenditure−0.09Free cash flow0.34Buybacks0.00Fiscal year 2021Operating cash flow−3.18Capital expenditure−0.07Free cash flow−3.25 −1,061.8%Buybacks−0.30Fiscal year 2022Operating cash flow4.50Capital expenditure−0.12Free cash flow4.39Buybacks−0.95Fiscal year 2023Operating cash flow0.35Capital expenditure−0.14Free cash flow0.22 −95.0%Buybacks−0.42Fiscal year 2024Operating cash flow0.43Capital expenditure−0.14Free cash flow0.29 +30.1%Buybacks−0.30Fiscal year 2025Operating cash flow0.37Capital expenditure−0.13Free cash flow0.24 −17.5%Buybacks−0.67
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.01 0.26 0.00 −0.61 0.42 −3.18 4.50 0.35 0.43 0.37
Capital expenditure −0.06 −0.07 −0.07 −0.07 −0.09 −0.07 −0.12 −0.14 −0.14 −0.13
Free cash flow −0.05 0.19 −0.06 −0.68 0.34 −3.25 4.39 0.22 0.29 0.24
Growth −132.5% −1,061.8% −95.0% +30.1% −17.5%
Buybacks n/a n/a n/a 0.00 0.00 −0.30 −0.95 −0.42 −0.30 −0.67

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.24Total debt0.37Net cash (debt)−0.12Shareholders’ equity2.53Debt to equity0.15Fiscal year 2017Cash0.35Total debt0.39Net cash (debt)−0.03Shareholders’ equity2.66Debt to equity0.14Fiscal year 2018Cash0.65Total debt0.70Net cash (debt)−0.05Shareholders’ equity3.27Debt to equity0.21Fiscal year 2019Cash1.14Total debt1.54Net cash (debt)−0.40Shareholders’ equity3.44Debt to equity0.45Fiscal year 2020Cash1.70Total debt1.61Net cash (debt)0.09Shareholders’ equity4.74Debt to equity0.34Fiscal year 2021Cash2.32Total debt1.32Net cash (debt)1.00Shareholders’ equity5.34Debt to equity0.25Fiscal year 2022Cash1.47Shareholders’ equity4.48Fiscal year 2023Cash1.49Shareholders’ equity4.53Fiscal year 2024Cash1.08Shareholders’ equity4.85Fiscal year 2025Cash0.77Shareholders’ equity4.88
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.24 0.35 0.65 1.14 1.70 2.32 1.47 1.49 1.08 0.77
Total debt 0.37 0.39 0.70 1.54 1.61 1.32 n/a n/a n/a n/a
Net cash (debt) −0.12 −0.03 −0.05 −0.40 0.09 1.00 n/a n/a n/a n/a
Shareholders’ equity 2.53 2.66 3.27 3.44 4.74 5.34 4.48 4.53 4.85 4.88
Debt to equity 0.15 0.14 0.21 0.45 0.34 0.25 n/a n/a n/a n/a

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
0.85 1.08 1.33 2.74 1.62 2.13 1.96 1.95 2.24 2.58
Growth +27.2% +23.8% +105.7% −40.8% +31.3% −8.2% −0.7% +15.0% +15.5%
0.07 0.09 0.15 1.54 0.26 0.32 0.37 0.42 0.53 0.67
n/a n/a n/a 1.20 1.37 1.81 1.59 1.52 1.71 1.92
Growth +14.2% +32.1% −12.1% −4.2% +12.1% +12.1%
0.26 0.32 0.41 0.35 0.32 0.42 0.50 0.56 0.59 0.61
0.33 0.21 0.26 0.37 0.32 0.41 0.50 0.55 0.52 0.50
−0.19 −0.16 −0.13 −0.25 0.11 0.24 −0.09 −0.27 −0.20 −0.03
Growth +119.3% −138.9%
−0.22 −0.18 −0.15 −0.31 −0.00 0.10 −0.09 −0.15 −0.11 0.03
0.00 −0.09 −0.03 −0.00 −0.01 −0.00 0.00 0.00 0.01 0.00
−0.22 −0.09 −0.12 −0.31 −0.16 −0.53 −0.10 −0.16 −0.11 0.02
Growth
Per share
n/a n/a n/a −1.48 −0.72 −2.11 −0.42 −0.68 −0.48 0.09
n/a n/a n/a −1.48 −0.70 −2.02 −0.42 −0.68 −0.48 0.09
Growth
n/a n/a n/a 206.4 223.8 249.9 242.2 233.6 234.1 241.9
n/a n/a n/a 206.4 231.4 261.8 242.2 233.6 234.1 254.1
Growth +12.1% +13.1% −7.5% −3.5% +0.2% +8.6%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 9.7% a year over five years.
  • The diluted share count rose 9.8% in five years, which is dilution.
  • Operating margin is down 8.0 points on five years ago, at -1.3%.
  • A net loss in 9 of 10 years on file.