Annual Income Statements for Zillow Group
This table shows Zillow Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Zillow Group
This table shows Zillow Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
-53 |
-72 |
-22 |
-35 |
-28 |
-73 |
-23 |
-17 |
-20 |
-52 |
8.00 |
Consolidated Net Income / (Loss) |
|
-53 |
-72 |
-22 |
-35 |
-28 |
-73 |
-23 |
-17 |
-20 |
-52 |
8.00 |
Net Income / (Loss) Continuing Operations |
|
-51 |
-72 |
-22 |
-35 |
-28 |
-73 |
-23 |
-17 |
-20 |
-52 |
8.00 |
Total Pre-Tax Income |
|
-48 |
-68 |
-22 |
-34 |
-28 |
-70 |
-21 |
-15 |
-20 |
-51 |
8.00 |
Total Revenue |
|
486 |
450 |
492 |
539 |
521 |
509 |
553 |
595 |
606 |
572 |
615 |
Net Interest Income / (Expense) |
|
-9.00 |
-9.00 |
-9.00 |
-9.00 |
-9.00 |
-9.00 |
-9.00 |
-10 |
-9.00 |
-8.00 |
-5.00 |
Total Interest Income |
|
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
Total Interest Expense |
|
9.00 |
9.00 |
9.00 |
9.00 |
9.00 |
9.00 |
9.00 |
10 |
9.00 |
8.00 |
5.00 |
Long-Term Debt Interest Expense |
|
9.00 |
9.00 |
9.00 |
9.00 |
9.00 |
9.00 |
9.00 |
10 |
9.00 |
8.00 |
5.00 |
Total Non-Interest Income |
|
495 |
459 |
501 |
548 |
530 |
518 |
562 |
605 |
615 |
580 |
620 |
Other Service Charges |
|
12 |
24 |
32 |
42 |
34 |
43 |
33 |
34 |
34 |
26 |
22 |
Other Non-Interest Income |
|
483 |
435 |
469 |
506 |
496 |
474 |
529 |
572 |
581 |
554 |
598 |
Total Non-Interest Expense |
|
534 |
518 |
514 |
573 |
549 |
579 |
574 |
610 |
626 |
623 |
607 |
Marketing Expense |
|
307 |
291 |
293 |
313 |
306 |
306 |
313 |
349 |
362 |
351 |
347 |
Other Operating Expenses |
|
227 |
217 |
215 |
257 |
241 |
261 |
255 |
261 |
263 |
272 |
260 |
Impairment Charge |
|
0.00 |
10 |
6.00 |
2.00 |
1.00 |
10 |
6.00 |
0.00 |
0.00 |
- |
0.00 |
Income Tax Expense |
|
3.00 |
4.00 |
0.00 |
1.00 |
0.00 |
3.00 |
2.00 |
2.00 |
0.00 |
1.00 |
0.00 |
Basic Earnings per Share |
|
($0.22) |
($0.29) |
($0.09) |
($0.15) |
($0.12) |
($0.32) |
($0.10) |
($0.07) |
($0.08) |
($0.23) |
$0.03 |
Weighted Average Basic Shares Outstanding |
|
240.08M |
242.16M |
234.43M |
233.63M |
233.30M |
233.58M |
234.70M |
233.45M |
232.52M |
234.08M |
242.26M |
Diluted Earnings per Share |
|
($0.22) |
($0.29) |
($0.09) |
($0.15) |
($0.12) |
($0.32) |
($0.10) |
($0.07) |
($0.08) |
($0.23) |
$0.03 |
Weighted Average Diluted Shares Outstanding |
|
240.08M |
242.16M |
234.43M |
233.63M |
233.30M |
233.58M |
234.70M |
233.45M |
232.52M |
234.08M |
256.19M |
Weighted Average Basic & Diluted Shares Outstanding |
|
237.73M |
234.34M |
234.02M |
232.83M |
233.60M |
233.47M |
236.19M |
231.44M |
233.56M |
242.56M |
241.45M |
Annual Cash Flow Statements for Zillow Group
This table details how cash moves in and out of Zillow Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
103 |
14 |
109 |
311 |
567 |
548 |
1,059 |
-1,370 |
27 |
-410 |
Net Cash From Operating Activities |
|
23 |
8.65 |
258 |
3.85 |
-612 |
423 |
-3,177 |
4,504 |
354 |
428 |
Net Cash From Continuing Operating Activities |
|
23 |
8.65 |
258 |
3.85 |
-620 |
423 |
-3,177 |
4,504 |
354 |
428 |
Net Income / (Loss) Continuing Operations |
|
-149 |
-220 |
-94 |
-120 |
-305 |
-162 |
-528 |
-101 |
-158 |
-112 |
Consolidated Net Income / (Loss) |
|
-149 |
-220 |
-94 |
-120 |
-305 |
-162 |
-528 |
-101 |
-158 |
-112 |
Depreciation Expense |
|
75 |
101 |
110 |
99 |
87 |
111 |
130 |
157 |
187 |
240 |
Amortization Expense |
|
5.04 |
4.10 |
26 |
56 |
87 |
163 |
178 |
79 |
61 |
33 |
Non-Cash Adjustments to Reconcile Net Income |
|
127 |
131 |
204 |
191 |
160 |
228 |
771 |
460 |
408 |
421 |
Changes in Operating Assets and Liabilities, net |
|
-39 |
-8.92 |
5.92 |
-223 |
-649 |
83 |
-3,728 |
3,909 |
-144 |
-154 |
Net Cash From Investing Activities |
|
64 |
-66 |
-247 |
-623 |
-456 |
-1,038 |
1,088 |
-1,533 |
25 |
395 |
Net Cash From Continuing Investing Activities |
|
64 |
-66 |
-247 |
-623 |
-456 |
-1,038 |
1,088 |
-1,533 |
25 |
395 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-53 |
-62 |
-67 |
-66 |
-67 |
-85 |
-74 |
-115 |
-135 |
-143 |
Purchase of Investment Securities |
|
-427 |
-211 |
-440 |
-902 |
-1,515 |
-3,311 |
-1,044 |
-2,220 |
-1,127 |
-741 |
Sale and/or Maturity of Investments |
|
517 |
204 |
259 |
413 |
1,126 |
2,358 |
2,206 |
802 |
1,287 |
1,279 |
Net Cash From Financing Activities |
|
16 |
72 |
98 |
930 |
1,636 |
1,163 |
3,148 |
-4,341 |
-352 |
-1,233 |
Net Cash From Continuing Financing Activities |
|
16 |
72 |
98 |
930 |
1,636 |
1,163 |
3,148 |
-4,341 |
-352 |
-1,233 |
Issuance of Debt |
|
- |
448 |
0.00 |
481 |
1,844 |
1,181 |
4,559 |
-2,282 |
0.00 |
0.00 |
Repayment of Debt |
|
- |
-370 |
0.00 |
0.00 |
-114 |
-874 |
-1,781 |
-1,158 |
0.00 |
-1,144 |
Repurchase of Common Equity |
|
- |
- |
- |
- |
- |
0.00 |
-302 |
-947 |
-424 |
-301 |
Other Financing Activities, Net |
|
16 |
-6.02 |
98 |
89 |
-94 |
444 |
127 |
46 |
72 |
212 |
Cash Interest Paid |
|
6.33 |
6.33 |
9.20 |
15 |
42 |
51 |
109 |
50 |
28 |
35 |
Cash Income Taxes Paid |
|
- |
- |
- |
- |
- |
0.00 |
0.00 |
6.00 |
6.00 |
6.00 |
Quarterly Cash Flow Statements for Zillow Group
This table details how cash moves in and out of Zillow Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Change in Cash & Equivalents |
|
-208 |
-507 |
-72 |
172 |
281 |
-354 |
-53 |
-259 |
-108 |
10 |
-167 |
Net Cash From Operating Activities |
|
165 |
84 |
93 |
100 |
75 |
86 |
80 |
55 |
171 |
122 |
104 |
Net Cash From Continuing Operating Activities |
|
165 |
84 |
93 |
100 |
75 |
86 |
80 |
55 |
171 |
122 |
104 |
Net Income / (Loss) Continuing Operations |
|
-53 |
-72 |
-22 |
-35 |
-28 |
-73 |
-23 |
-17 |
-20 |
-52 |
8.00 |
Consolidated Net Income / (Loss) |
|
-53 |
-72 |
-22 |
-35 |
-28 |
-73 |
-23 |
-17 |
-20 |
-52 |
8.00 |
Depreciation Expense |
|
34 |
36 |
40 |
45 |
49 |
53 |
56 |
59 |
63 |
62 |
65 |
Amortization Expense |
|
13 |
26 |
13 |
-7.00 |
3.00 |
52 |
2.00 |
16 |
8.00 |
7.00 |
8.00 |
Non-Cash Adjustments to Reconcile Net Income |
|
143 |
100 |
95 |
128 |
106 |
79 |
110 |
99 |
102 |
110 |
84 |
Changes in Operating Assets and Liabilities, net |
|
28 |
-6.00 |
-33 |
-31 |
-55 |
-25 |
-65 |
-102 |
18 |
-5.00 |
-61 |
Net Cash From Investing Activities |
|
-189 |
-410 |
-97 |
181 |
255 |
-314 |
-204 |
-3.00 |
328 |
274 |
-52 |
Net Cash From Continuing Investing Activities |
|
-189 |
-410 |
-97 |
181 |
255 |
-314 |
-204 |
-3.00 |
328 |
274 |
-52 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-27 |
-28 |
-31 |
-35 |
-35 |
-34 |
-39 |
-37 |
-33 |
-34 |
-36 |
Purchase of Investment Securities |
|
-457 |
-729 |
-499 |
-157 |
-40 |
-431 |
-304 |
-301 |
-84 |
-52 |
-168 |
Sale and/or Maturity of Investments |
|
295 |
347 |
433 |
373 |
330 |
151 |
139 |
335 |
445 |
360 |
152 |
Net Cash From Financing Activities |
|
-184 |
-181 |
-68 |
-109 |
-49 |
-126 |
71 |
-311 |
-607 |
-386 |
-219 |
Net Cash From Continuing Financing Activities |
|
-184 |
-181 |
-68 |
-109 |
-49 |
-126 |
71 |
-311 |
-607 |
-386 |
-219 |
Issuance of Debt |
|
-10 |
-2,214 |
5.00 |
24 |
25 |
-54 |
30 |
59 |
-34 |
-55 |
28 |
Repurchase of Common Equity |
|
-176 |
-174 |
-86 |
-150 |
-100 |
-88 |
-9.00 |
-292 |
- |
- |
-250 |
Other Financing Activities, Net |
|
2.00 |
2.00 |
13 |
17 |
26 |
16 |
50 |
11 |
35 |
116 |
3.00 |
Annual Balance Sheets for Zillow Group
This table presents Zillow Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
3,136 |
3,150 |
3,231 |
4,291 |
6,132 |
7,487 |
10,695 |
6,563 |
6,652 |
5,829 |
Cash and Due from Banks |
|
229 |
244 |
352 |
651 |
1,141 |
1,703 |
2,315 |
1,466 |
1,492 |
1,082 |
Restricted Cash |
|
3.02 |
- |
0.00 |
12 |
90 |
76 |
1.00 |
2.00 |
3.00 |
3.00 |
Trading Account Securities |
|
291 |
264 |
410 |
904 |
1,281 |
2,218 |
514 |
1,896 |
1,318 |
776 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Loans Held for Sale |
|
- |
- |
0.00 |
35 |
37 |
331 |
107 |
41 |
100 |
159 |
Premises and Equipment, Net |
|
86 |
98 |
112 |
135 |
170 |
196 |
215 |
271 |
328 |
360 |
Goodwill |
|
1,909 |
1,923 |
1,931 |
1,985 |
1,985 |
1,985 |
2,374 |
2,374 |
2,817 |
2,823 |
Intangible Assets |
|
559 |
527 |
320 |
216 |
191 |
95 |
176 |
154 |
241 |
207 |
Other Assets |
|
59 |
93 |
105 |
352 |
1,238 |
883 |
4,993 |
359 |
353 |
419 |
Total Liabilities & Shareholders' Equity |
|
3,136 |
3,150 |
3,231 |
4,291 |
6,132 |
7,487 |
10,695 |
6,563 |
6,652 |
5,829 |
Total Liabilities |
|
457 |
616 |
570 |
1,024 |
2,697 |
2,745 |
5,354 |
2,081 |
2,126 |
981 |
Short-Term Debt |
|
4.53 |
5.60 |
5.99 |
159 |
740 |
689 |
124 |
57 |
728 |
593 |
Accrued Interest Payable |
|
43 |
38 |
61 |
63 |
85 |
94 |
89 |
90 |
107 |
105 |
Other Short-Term Payables |
|
33 |
53 |
51 |
65 |
95 |
125 |
3,669 |
123 |
136 |
133 |
Long-Term Debt |
|
230 |
367 |
385 |
699 |
1,543 |
1,614 |
1,319 |
1,660 |
1,000 |
0.00 |
Other Long-Term Liabilities |
|
146 |
151 |
66 |
37 |
233 |
223 |
153 |
151 |
155 |
150 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
2,679 |
2,534 |
2,661 |
3,267 |
3,435 |
4,742 |
5,341 |
4,482 |
4,526 |
4,848 |
Total Preferred & Common Equity |
|
2,679 |
2,534 |
2,661 |
3,267 |
3,435 |
4,742 |
5,341 |
4,482 |
4,526 |
4,848 |
Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Common Equity |
|
2,679 |
2,534 |
2,661 |
3,267 |
3,435 |
4,742 |
5,341 |
4,482 |
4,526 |
4,848 |
Common Stock |
|
2,956 |
3,031 |
3,254 |
3,940 |
4,412 |
5,881 |
7,001 |
6,109 |
6,301 |
6,733 |
Retained Earnings |
|
-277 |
-497 |
-592 |
-672 |
-977 |
-1,139 |
-1,667 |
-1,612 |
-1,770 |
-1,882 |
Accumulated Other Comprehensive Income / (Loss) |
|
-0.47 |
-0.24 |
-1.10 |
-0.91 |
0.34 |
0.16 |
7.00 |
-15 |
-5.00 |
-3.00 |
Quarterly Balance Sheets for Zillow Group
This table presents Zillow Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Total Assets |
|
6,718 |
6,614 |
6,618 |
6,656 |
6,823 |
6,628 |
6,159 |
5,746 |
Cash and Due from Banks |
|
1,973 |
1,394 |
1,566 |
1,846 |
1,439 |
1,181 |
1,072 |
914 |
Restricted Cash |
|
2.00 |
2.00 |
2.00 |
3.00 |
3.00 |
2.00 |
3.00 |
4.00 |
Trading Account Securities |
|
1,516 |
1,975 |
1,745 |
1,421 |
1,478 |
1,447 |
1,101 |
689 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Loans Held for Sale |
|
49 |
48 |
73 |
96 |
132 |
195 |
164 |
185 |
Premises and Equipment, Net |
|
261 |
290 |
309 |
324 |
343 |
356 |
356 |
364 |
Goodwill |
|
2,374 |
2,374 |
2,374 |
2,416 |
2,817 |
2,818 |
2,818 |
2,823 |
Intangible Assets |
|
149 |
154 |
153 |
162 |
232 |
222 |
211 |
297 |
Other Assets |
|
394 |
377 |
396 |
388 |
379 |
407 |
434 |
470 |
Total Liabilities & Shareholders' Equity |
|
6,718 |
6,614 |
6,618 |
6,656 |
6,823 |
6,628 |
6,159 |
5,746 |
Total Liabilities |
|
2,123 |
2,094 |
2,132 |
2,127 |
2,158 |
2,127 |
1,503 |
992 |
Short-Term Debt |
|
64 |
63 |
87 |
726 |
765 |
1,246 |
619 |
627 |
Accrued Interest Payable |
|
112 |
101 |
118 |
87 |
104 |
111 |
114 |
111 |
Other Short-Term Payables |
|
136 |
123 |
128 |
128 |
132 |
121 |
121 |
137 |
Other Long-Term Liabilities |
|
152 |
146 |
136 |
129 |
156 |
152 |
152 |
117 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
4,595 |
4,520 |
4,486 |
4,529 |
4,665 |
4,501 |
4,656 |
4,754 |
Total Preferred & Common Equity |
|
4,595 |
4,520 |
4,486 |
4,529 |
4,665 |
4,501 |
4,656 |
4,754 |
Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Common Equity |
|
4,595 |
4,520 |
4,486 |
4,529 |
4,665 |
4,501 |
4,656 |
4,754 |
Common Stock |
|
6,154 |
6,157 |
6,174 |
6,247 |
6,469 |
6,322 |
6,482 |
6,628 |
Retained Earnings |
|
-1,540 |
-1,634 |
-1,669 |
-1,697 |
-1,793 |
-1,810 |
-1,830 |
-1,874 |
Accumulated Other Comprehensive Income / (Loss) |
|
-19 |
-3.00 |
-19 |
-21 |
-11 |
-11 |
4.00 |
0.00 |
Annual Metrics And Ratios for Zillow Group
This table displays calculated financial ratios and metrics derived from Zillow Group's official financial filings.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
95.94% |
27.85% |
28.75% |
24.36% |
104.39% |
-43.60% |
31.88% |
-1.40% |
4.83% |
12.86% |
EBITDA Growth |
|
-112,350.77% |
-58.18% |
58.20% |
109.85% |
-2,931.69% |
301.14% |
50.92% |
-63.08% |
-37.75% |
76.60% |
EBIT Growth |
|
-252.03% |
-43.51% |
16.48% |
17.96% |
-105.10% |
99.03% |
3,466.67% |
-184.16% |
-81.18% |
30.52% |
NOPAT Growth |
|
-252.03% |
-43.51% |
16.48% |
17.96% |
-105.10% |
99.03% |
4,957.14% |
-158.33% |
-81.18% |
30.52% |
Net Income Growth |
|
-241.38% |
-48.07% |
57.17% |
-26.94% |
-154.77% |
46.95% |
-225.93% |
80.87% |
-56.44% |
29.11% |
EPS Growth |
|
-144.44% |
-38.64% |
58.20% |
-19.61% |
-142.62% |
52.70% |
-188.57% |
79.21% |
-61.90% |
29.41% |
Operating Cash Flow Growth |
|
-50.22% |
-61.85% |
2,886.59% |
-98.51% |
-16,000.62% |
169.10% |
-851.06% |
241.77% |
-92.14% |
20.90% |
Free Cash Flow Firm Growth |
|
-284.74% |
93.92% |
-86.41% |
-329.45% |
-53.61% |
26.65% |
127.30% |
44.96% |
-130.98% |
553.38% |
Invested Capital Growth |
|
386.41% |
-0.24% |
5.01% |
35.15% |
38.63% |
23.18% |
-3.70% |
-8.62% |
0.89% |
-13.00% |
Revenue Q/Q Growth |
|
13.37% |
4.42% |
144.07% |
-37.12% |
8.68% |
-44.62% |
-0.53% |
256.16% |
2.95% |
2.78% |
EBITDA Q/Q Growth |
|
-16.13% |
9.55% |
-155.13% |
107.01% |
42.78% |
809.95% |
-27.22% |
-47.75% |
168.57% |
12.16% |
EBIT Q/Q Growth |
|
-12.14% |
2.44% |
-369.39% |
31.78% |
23.91% |
98.61% |
-66.14% |
-8,400.00% |
-1.32% |
15.08% |
NOPAT Q/Q Growth |
|
-12.14% |
2.44% |
-369.39% |
31.78% |
23.91% |
98.61% |
-65.21% |
-8,400.00% |
-1.32% |
15.08% |
Net Income Q/Q Growth |
|
-11.06% |
1.00% |
-131.79% |
-20.64% |
23.20% |
24.16% |
-139.08% |
65.17% |
-0.64% |
15.79% |
EPS Q/Q Growth |
|
-51.72% |
-0.83% |
-131.82% |
-15.09% |
23.32% |
32.69% |
-188.57% |
63.48% |
-4.62% |
15.79% |
Operating Cash Flow Q/Q Growth |
|
-55.35% |
118.65% |
19.53% |
-97.91% |
20.39% |
-47.67% |
3.41% |
7.11% |
0.57% |
9.18% |
Free Cash Flow Firm Q/Q Growth |
|
0.00% |
-91.23% |
0.00% |
-5.16% |
5.27% |
-50.41% |
110.22% |
-86.61% |
-62.15% |
63.37% |
Invested Capital Q/Q Growth |
|
0.10% |
2.72% |
-0.79% |
2.04% |
0.88% |
10.06% |
-33.77% |
-1.88% |
-0.92% |
-5.73% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
-11.41% |
-14.11% |
-4.58% |
0.36% |
-5.03% |
17.92% |
20.51% |
7.68% |
4.56% |
7.14% |
EBIT Margin |
|
-23.96% |
-26.90% |
-17.45% |
-11.51% |
-11.55% |
-0.20% |
5.07% |
-4.32% |
-7.47% |
-4.60% |
Profit (Net Income) Margin |
|
-23.24% |
-26.91% |
-8.95% |
-9.14% |
-11.39% |
-10.71% |
-26.48% |
-5.14% |
-7.67% |
-4.82% |
Tax Burden Percent |
|
96.97% |
100.06% |
51.31% |
79.40% |
98.62% |
5,400.00% |
-522.77% |
118.82% |
102.60% |
104.67% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
-0.99% |
0.00% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
|
-6.12% |
-5.30% |
-4.32% |
-2.94% |
-4.40% |
-0.03% |
1.48% |
-0.92% |
-1.73% |
-1.28% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
-39.96% |
-27.10% |
4.67% |
-5.22% |
-10.05% |
-7.01% |
-32.16% |
-3.54% |
-4.65% |
-4.48% |
Return on Net Nonoperating Assets (RNNOA) |
|
-2.99% |
-3.16% |
0.69% |
-1.10% |
-4.71% |
-3.93% |
-11.95% |
-1.14% |
-1.78% |
-1.11% |
Return on Equity (ROE) |
|
-9.11% |
-8.46% |
-3.64% |
-4.04% |
-9.11% |
-3.96% |
-10.47% |
-2.06% |
-3.51% |
-2.39% |
Cash Return on Invested Capital (CROIC) |
|
-137.91% |
-5.06% |
-9.21% |
-32.84% |
-36.78% |
-20.81% |
5.24% |
8.10% |
-2.61% |
12.62% |
Operating Return on Assets (OROA) |
|
-8.11% |
-7.01% |
-5.77% |
-4.01% |
-5.94% |
-0.04% |
1.11% |
-0.99% |
-2.33% |
-1.71% |
Return on Assets (ROA) |
|
-7.87% |
-7.01% |
-2.96% |
-3.19% |
-5.86% |
-2.38% |
-5.81% |
-1.17% |
-2.39% |
-1.79% |
Return on Common Equity (ROCE) |
|
-9.11% |
-8.46% |
-3.64% |
-4.04% |
-9.11% |
-3.96% |
-10.47% |
-2.06% |
-3.51% |
-2.39% |
Return on Equity Simple (ROE_SIMPLE) |
|
-5.56% |
-8.70% |
-3.55% |
-3.67% |
-8.89% |
-3.42% |
-9.89% |
-2.25% |
-3.49% |
-2.31% |
Net Operating Profit after Tax (NOPAT) |
|
-107 |
-154 |
-129 |
-106 |
-217 |
-2.10 |
102 |
-60 |
-108 |
-75 |
NOPAT Margin |
|
-16.77% |
-18.83% |
-12.21% |
-8.06% |
-8.08% |
-0.14% |
5.12% |
-3.03% |
-5.23% |
-3.22% |
Net Nonoperating Expense Percent (NNEP) |
|
33.84% |
21.80% |
-9.00% |
2.27% |
5.64% |
6.97% |
33.64% |
2.63% |
2.91% |
3.20% |
SG&A Expenses to Revenue |
|
76.89% |
77.89% |
72.84% |
73.46% |
40.27% |
56.81% |
56.97% |
59.10% |
59.10% |
59.11% |
Operating Expenses to Revenue |
|
123.96% |
126.90% |
117.45% |
111.51% |
111.55% |
100.20% |
94.93% |
104.32% |
107.47% |
104.60% |
Earnings before Interest and Taxes (EBIT) |
|
-154 |
-220 |
-184 |
-151 |
-310 |
-3.00 |
101 |
-85 |
-154 |
-107 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
-73 |
-116 |
-48 |
4.76 |
-135 |
271 |
409 |
151 |
94 |
166 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.73 |
2.61 |
2.89 |
1.96 |
2.76 |
6.67 |
2.97 |
1.66 |
2.93 |
3.41 |
Price to Tangible Book Value (P/TBV) |
|
21.96 |
79.96 |
18.77 |
5.99 |
7.53 |
11.88 |
5.68 |
3.80 |
9.03 |
9.10 |
Price to Revenue (P/Rev) |
|
7.23 |
8.07 |
7.30 |
4.87 |
3.54 |
20.92 |
7.95 |
3.77 |
6.43 |
7.11 |
Price to Earnings (P/E) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Dividend Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Earnings Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.59 |
2.32 |
2.53 |
1.60 |
1.84 |
4.56 |
2.21 |
1.24 |
2.16 |
2.95 |
Enterprise Value to Revenue (EV/Rev) |
|
7.24 |
8.22 |
7.33 |
5.02 |
3.93 |
21.27 |
7.51 |
3.90 |
6.54 |
6.90 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
0.00 |
0.00 |
0.00 |
1,383.47 |
0.00 |
118.65 |
36.63 |
50.78 |
143.44 |
96.72 |
Enterprise Value to EBIT (EV/EBIT) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
148.33 |
0.00 |
0.00 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
146.87 |
0.00 |
0.00 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
204.63 |
779.18 |
29.96 |
1,709.75 |
0.00 |
76.01 |
0.00 |
1.70 |
38.09 |
37.51 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
41.32 |
14.59 |
0.00 |
21.75 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.09 |
0.15 |
0.15 |
0.26 |
0.66 |
0.49 |
0.27 |
0.38 |
0.38 |
0.12 |
Long-Term Debt to Equity |
|
0.09 |
0.15 |
0.14 |
0.21 |
0.45 |
0.34 |
0.25 |
0.37 |
0.22 |
0.00 |
Financial Leverage |
|
0.07 |
0.12 |
0.15 |
0.21 |
0.47 |
0.56 |
0.37 |
0.32 |
0.38 |
0.25 |
Leverage Ratio |
|
1.16 |
1.21 |
1.23 |
1.27 |
1.56 |
1.67 |
1.80 |
1.76 |
1.47 |
1.33 |
Compound Leverage Factor |
|
1.16 |
1.21 |
1.23 |
1.27 |
1.56 |
1.67 |
1.80 |
1.76 |
1.47 |
1.33 |
Debt to Total Capital |
|
8.05% |
12.83% |
12.82% |
20.80% |
39.93% |
32.69% |
21.27% |
27.70% |
27.63% |
10.90% |
Short-Term Debt to Total Capital |
|
0.16% |
0.19% |
0.20% |
3.85% |
12.94% |
9.78% |
1.83% |
0.92% |
11.64% |
10.90% |
Long-Term Debt to Total Capital |
|
7.89% |
12.64% |
12.63% |
16.95% |
26.99% |
22.90% |
19.44% |
26.78% |
15.99% |
0.00% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
91.95% |
87.17% |
87.18% |
79.20% |
60.07% |
67.31% |
78.73% |
72.30% |
72.37% |
89.10% |
Debt to EBITDA |
|
-3.21 |
-3.23 |
-8.10 |
180.32 |
-16.95 |
8.50 |
3.53 |
11.37 |
18.38 |
3.57 |
Net Debt to EBITDA |
|
-0.03 |
-1.12 |
-0.81 |
40.88 |
-7.81 |
1.93 |
-2.13 |
1.65 |
2.48 |
-2.96 |
Long-Term Debt to EBITDA |
|
-3.15 |
-3.18 |
-7.98 |
146.91 |
-11.46 |
5.95 |
3.22 |
10.99 |
10.64 |
0.00 |
Debt to NOPAT |
|
-2.18 |
-2.42 |
-3.04 |
-8.12 |
-10.54 |
-1,096.53 |
14.15 |
-28.86 |
-16.03 |
-7.92 |
Net Debt to NOPAT |
|
-0.02 |
-0.84 |
-0.31 |
-1.84 |
-4.86 |
-249.41 |
-8.56 |
-4.18 |
-2.16 |
6.57 |
Long-Term Debt to NOPAT |
|
-2.14 |
-2.38 |
-2.99 |
-6.62 |
-7.12 |
-768.34 |
12.93 |
-27.90 |
-9.28 |
0.00 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-2,422 |
-147 |
-274 |
-1,179 |
-1,810 |
-1,328 |
363 |
526 |
-163 |
738 |
Operating Cash Flow to CapEx |
|
43.01% |
13.93% |
386.93% |
5.83% |
-913.09% |
497.65% |
-4,293.24% |
3,916.52% |
262.22% |
299.30% |
Free Cash Flow to Firm to Interest Expense |
|
-441.25 |
-19.87 |
-9.97 |
-28.57 |
-17.78 |
-9.62 |
2.83 |
15.01 |
-4.52 |
20.50 |
Operating Cash Flow to Interest Expense |
|
4.13 |
1.17 |
9.38 |
0.09 |
-6.01 |
3.07 |
-24.82 |
128.69 |
9.83 |
11.89 |
Operating Cash Flow Less CapEx to Interest Expense |
|
-5.47 |
-7.21 |
6.96 |
-1.51 |
-6.67 |
2.45 |
-25.40 |
125.40 |
6.08 |
7.92 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.34 |
0.26 |
0.33 |
0.35 |
0.51 |
0.22 |
0.22 |
0.23 |
0.31 |
0.37 |
Fixed Asset Turnover |
|
10.08 |
8.91 |
10.02 |
10.60 |
17.54 |
8.25 |
9.70 |
8.09 |
6.88 |
6.76 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
2,914 |
2,907 |
3,052 |
4,125 |
5,719 |
7,045 |
6,784 |
6,199 |
6,254 |
5,441 |
Invested Capital Turnover |
|
0.36 |
0.28 |
0.35 |
0.37 |
0.54 |
0.24 |
0.29 |
0.30 |
0.33 |
0.40 |
Increase / (Decrease) in Invested Capital |
|
2,315 |
-6.99 |
146 |
1,073 |
1,594 |
1,326 |
-261 |
-585 |
55 |
-813 |
Enterprise Value (EV) |
|
4,637 |
6,736 |
7,734 |
6,583 |
10,541 |
32,153 |
14,981 |
7,668 |
13,483 |
16,056 |
Market Capitalization |
|
4,634 |
6,607 |
7,695 |
6,388 |
9,489 |
31,630 |
15,854 |
7,419 |
13,250 |
16,548 |
Book Value per Share |
|
$15.05 |
$13.98 |
$14.09 |
$16.07 |
$16.56 |
$20.38 |
$20.96 |
$18.85 |
$19.37 |
$20.76 |
Tangible Book Value per Share |
|
$1.19 |
$0.46 |
$2.17 |
$5.25 |
$6.07 |
$11.44 |
$10.95 |
$8.22 |
$6.28 |
$7.78 |
Total Capital |
|
2,914 |
2,907 |
3,052 |
4,125 |
5,719 |
7,045 |
6,784 |
6,199 |
6,254 |
5,441 |
Total Debt |
|
235 |
373 |
391 |
858 |
2,283 |
2,303 |
1,443 |
1,717 |
1,728 |
593 |
Total Long-Term Debt |
|
230 |
367 |
385 |
699 |
1,543 |
1,614 |
1,319 |
1,660 |
1,000 |
0.00 |
Net Debt |
|
2.38 |
129 |
39 |
195 |
1,052 |
524 |
-873 |
249 |
233 |
-492 |
Capital Expenditures (CapEx) |
|
53 |
62 |
67 |
66 |
67 |
85 |
74 |
115 |
135 |
143 |
Net Nonoperating Expense (NNE) |
|
41 |
66 |
-34 |
14 |
89 |
160 |
630 |
42 |
50 |
37 |
Net Nonoperating Obligations (NNO) |
|
235 |
373 |
391 |
858 |
2,283 |
2,303 |
1,443 |
1,717 |
1,728 |
593 |
Total Depreciation and Amortization (D&A) |
|
80 |
105 |
136 |
156 |
175 |
274 |
308 |
236 |
248 |
273 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
($0.88) |
($1.22) |
($0.51) |
($0.61) |
($1.48) |
($0.72) |
($2.11) |
($0.42) |
($0.68) |
($0.48) |
Adjusted Weighted Average Basic Shares Outstanding |
|
178.53M |
182.73M |
190.68M |
204.60M |
209.27M |
240.66M |
249.94M |
242.16M |
233.58M |
234.08M |
Adjusted Diluted Earnings per Share |
|
($0.88) |
($1.22) |
($0.51) |
($0.61) |
($1.48) |
($0.72) |
($2.11) |
($0.42) |
($0.68) |
($0.48) |
Adjusted Weighted Average Diluted Shares Outstanding |
|
178.53M |
182.73M |
190.68M |
204.60M |
209.27M |
240.66M |
249.94M |
242.16M |
233.58M |
234.08M |
Adjusted Basic & Diluted Earnings per Share |
|
($0.88) |
($1.22) |
($0.51) |
($0.61) |
($1.48) |
($0.72) |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
169.77M |
180.15M |
186.45M |
197.94M |
206.38M |
223.85M |
250.67M |
234.34M |
233.47M |
242.56M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
-71 |
-153 |
-6.68 |
-47 |
-216 |
52 |
85 |
-43 |
-92 |
-70 |
Normalized NOPAT Margin |
|
-11.08% |
-18.71% |
-0.63% |
-3.61% |
-8.07% |
3.43% |
4.25% |
-2.17% |
-4.45% |
-3.01% |
Pre Tax Income Margin |
|
-23.96% |
-26.90% |
-17.45% |
-11.51% |
-11.55% |
-0.20% |
5.07% |
-4.32% |
-7.47% |
-4.60% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
-27.97 |
-29.74 |
-6.69 |
-3.66 |
-3.04 |
-0.02 |
0.79 |
-2.43 |
-4.28 |
-2.97 |
NOPAT to Interest Expense |
|
-19.58 |
-20.82 |
-4.68 |
-2.56 |
-2.13 |
-0.02 |
0.80 |
-1.70 |
-2.99 |
-2.08 |
EBIT Less CapEx to Interest Expense |
|
-37.57 |
-38.12 |
-9.11 |
-5.26 |
-3.70 |
-0.64 |
0.21 |
-5.71 |
-8.03 |
-6.94 |
NOPAT Less CapEx to Interest Expense |
|
-29.18 |
-29.19 |
-7.11 |
-4.16 |
-2.79 |
-0.63 |
0.22 |
-4.99 |
-6.74 |
-6.05 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Augmented Payout Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
-57.20% |
-937.62% |
-268.35% |
-268.75% |
Quarterly Metrics And Ratios for Zillow Group
This table displays calculated financial ratios and metrics derived from Zillow Group's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
-4.33% |
146.68% |
-7.17% |
7.80% |
7.20% |
13.11% |
12.40% |
10.39% |
16.31% |
12.38% |
11.21% |
EBITDA Growth |
|
-101.56% |
-104.55% |
-71.82% |
-91.67% |
2,500.00% |
683.33% |
19.35% |
1,400.00% |
112.50% |
-48.57% |
80.00% |
EBIT Growth |
|
-469.23% |
-525.00% |
-173.33% |
-3,500.00% |
41.67% |
-2.94% |
4.55% |
55.88% |
28.57% |
27.14% |
138.10% |
NOPAT Growth |
|
-286.67% |
-316.36% |
-161.60% |
-338.00% |
41.67% |
-2.94% |
4.55% |
55.88% |
28.57% |
27.14% |
154.42% |
Net Income Growth |
|
83.89% |
72.41% |
-237.50% |
-537.50% |
47.17% |
-1.39% |
-4.55% |
51.43% |
28.57% |
28.77% |
134.78% |
EPS Growth |
|
82.26% |
71.57% |
-250.00% |
-600.00% |
45.45% |
-10.34% |
-11.11% |
53.33% |
33.33% |
28.13% |
130.00% |
Operating Cash Flow Growth |
|
105.88% |
139.07% |
-97.26% |
-88.41% |
-54.55% |
2.38% |
-13.98% |
-45.00% |
128.00% |
41.86% |
30.00% |
Free Cash Flow Firm Growth |
|
201.75% |
90.22% |
143.79% |
-92.77% |
-100.35% |
-119.35% |
-118.33% |
-113.68% |
3,967.65% |
847.40% |
624.54% |
Invested Capital Growth |
|
-38.32% |
-8.62% |
-15.16% |
-2.49% |
-0.10% |
0.89% |
2.99% |
0.13% |
-8.56% |
-13.00% |
-16.33% |
Revenue Q/Q Growth |
|
-2.80% |
-7.41% |
9.33% |
9.55% |
-3.34% |
-2.30% |
8.64% |
7.59% |
1.85% |
-5.61% |
7.52% |
EBITDA Q/Q Growth |
|
-102.08% |
-500.00% |
229.17% |
-87.10% |
500.00% |
45.83% |
227.59% |
62.16% |
-15.00% |
-64.71% |
350.00% |
EBIT Q/Q Growth |
|
-4,900.00% |
-41.67% |
67.65% |
-54.55% |
17.65% |
-150.00% |
70.00% |
28.57% |
-33.33% |
-155.00% |
115.69% |
NOPAT Q/Q Growth |
|
-436.00% |
-41.67% |
67.65% |
-54.55% |
17.65% |
-150.00% |
70.00% |
28.57% |
-33.33% |
-155.00% |
122.41% |
Net Income Q/Q Growth |
|
-762.50% |
-35.85% |
69.44% |
-59.09% |
20.00% |
-160.71% |
68.49% |
26.09% |
-17.65% |
-160.00% |
115.38% |
EPS Q/Q Growth |
|
-833.33% |
-31.82% |
68.97% |
-66.67% |
20.00% |
-166.67% |
68.75% |
30.00% |
-14.29% |
-187.50% |
113.04% |
Operating Cash Flow Q/Q Growth |
|
-80.88% |
-49.09% |
10.71% |
7.53% |
-25.00% |
14.67% |
-6.98% |
-31.25% |
210.91% |
-28.66% |
-14.75% |
Free Cash Flow Firm Q/Q Growth |
|
108.16% |
-86.19% |
104.80% |
-87.72% |
-110.06% |
-664.71% |
-93.94% |
90.83% |
2,943.24% |
47.78% |
36.11% |
Invested Capital Q/Q Growth |
|
-1.20% |
-1.88% |
0.73% |
-0.13% |
1.22% |
-0.92% |
2.83% |
-2.91% |
-7.56% |
-5.73% |
-1.10% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
-0.21% |
-1.33% |
6.30% |
0.74% |
4.61% |
6.88% |
6.69% |
10.08% |
8.42% |
3.15% |
13.17% |
EBIT Margin |
|
-9.88% |
-15.11% |
-4.47% |
-6.31% |
-5.37% |
-13.75% |
-3.80% |
-2.52% |
-3.30% |
-8.92% |
1.30% |
Profit (Net Income) Margin |
|
-10.91% |
-16.00% |
-4.47% |
-6.49% |
-5.37% |
-14.34% |
-4.16% |
-2.86% |
-3.30% |
-9.09% |
1.30% |
Tax Burden Percent |
|
110.42% |
105.88% |
100.00% |
102.94% |
100.00% |
104.29% |
109.52% |
113.33% |
100.00% |
101.96% |
100.00% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
|
-0.46% |
-3.20% |
-0.89% |
-1.38% |
-1.19% |
-3.19% |
-0.89% |
-0.62% |
-0.87% |
-2.48% |
0.53% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
-1.09% |
-4.75% |
-1.20% |
-2.02% |
-1.67% |
-4.58% |
-1.37% |
-0.99% |
-1.28% |
-3.89% |
0.53% |
Return on Net Nonoperating Assets (RNNOA) |
|
-0.65% |
-1.53% |
-0.55% |
-0.77% |
-0.64% |
-1.75% |
-0.52% |
-0.38% |
-0.40% |
-0.96% |
0.13% |
Return on Equity (ROE) |
|
-1.11% |
-4.73% |
-1.44% |
-2.14% |
-1.84% |
-4.94% |
-1.41% |
-1.00% |
-1.27% |
-3.45% |
0.66% |
Cash Return on Invested Capital (CROIC) |
|
47.39% |
8.10% |
15.00% |
0.61% |
-1.59% |
-2.61% |
-4.64% |
-1.63% |
7.48% |
12.62% |
16.85% |
Operating Return on Assets (OROA) |
|
-0.62% |
-3.44% |
-1.19% |
-1.85% |
-1.61% |
-4.29% |
-1.20% |
-0.83% |
-1.17% |
-3.32% |
0.49% |
Return on Assets (ROA) |
|
-0.69% |
-3.65% |
-1.19% |
-1.91% |
-1.61% |
-4.47% |
-1.31% |
-0.94% |
-1.17% |
-3.39% |
0.49% |
Return on Common Equity (ROCE) |
|
-1.11% |
-4.73% |
-1.44% |
-2.14% |
-1.84% |
-4.94% |
-1.41% |
-1.00% |
-1.27% |
-3.45% |
0.66% |
Return on Equity Simple (ROE_SIMPLE) |
|
-6.31% |
0.00% |
-3.08% |
-4.06% |
-3.47% |
0.00% |
-3.41% |
-3.13% |
-2.86% |
0.00% |
-1.70% |
Net Operating Profit after Tax (NOPAT) |
|
-34 |
-48 |
-15 |
-24 |
-20 |
-49 |
-15 |
-11 |
-14 |
-36 |
8.00 |
NOPAT Margin |
|
-6.91% |
-10.58% |
-3.13% |
-4.42% |
-3.76% |
-9.63% |
-2.66% |
-1.76% |
-2.31% |
-6.24% |
1.30% |
Net Nonoperating Expense Percent (NNEP) |
|
0.63% |
1.54% |
0.31% |
0.64% |
0.48% |
1.39% |
0.48% |
0.37% |
0.41% |
1.40% |
0.00% |
SG&A Expenses to Revenue |
|
63.17% |
64.67% |
59.55% |
58.07% |
58.73% |
60.12% |
56.60% |
58.66% |
59.74% |
61.36% |
56.42% |
Operating Expenses to Revenue |
|
109.88% |
115.11% |
104.47% |
106.31% |
105.37% |
113.75% |
103.80% |
102.52% |
103.30% |
108.92% |
98.70% |
Earnings before Interest and Taxes (EBIT) |
|
-48 |
-68 |
-22 |
-34 |
-28 |
-70 |
-21 |
-15 |
-20 |
-51 |
8.00 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
-1.00 |
-6.00 |
31 |
4.00 |
24 |
35 |
37 |
60 |
51 |
18 |
81 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.50 |
1.66 |
2.27 |
2.57 |
2.30 |
2.93 |
2.40 |
2.36 |
3.08 |
3.41 |
3.41 |
Price to Tangible Book Value (P/TBV) |
|
3.33 |
3.80 |
5.14 |
5.88 |
5.35 |
9.03 |
6.92 |
7.28 |
8.81 |
9.10 |
9.93 |
Price to Revenue (P/Rev) |
|
12.51 |
3.77 |
5.31 |
5.85 |
5.21 |
6.43 |
5.27 |
4.88 |
6.33 |
7.11 |
6.79 |
Price to Earnings (P/E) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Dividend Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Earnings Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
|
1.05 |
1.24 |
1.69 |
1.88 |
1.64 |
2.16 |
1.79 |
1.79 |
2.49 |
2.95 |
2.96 |
Enterprise Value to Revenue (EV/Rev) |
|
12.05 |
3.90 |
5.48 |
5.95 |
5.18 |
6.54 |
5.42 |
5.14 |
6.35 |
6.90 |
6.67 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
23.02 |
50.78 |
195.72 |
1,169.57 |
296.07 |
143.44 |
176.99 |
92.54 |
97.12 |
96.72 |
78.84 |
Enterprise Value to EBIT (EV/EBIT) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
1.58 |
1.70 |
8.77 |
26.46 |
29.44 |
38.09 |
33.74 |
37.83 |
36.67 |
37.51 |
35.24 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
1.70 |
14.59 |
10.36 |
303.00 |
0.00 |
0.00 |
0.00 |
0.00 |
31.82 |
21.75 |
16.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.38 |
0.38 |
0.38 |
0.39 |
0.39 |
0.38 |
0.38 |
0.39 |
0.24 |
0.12 |
0.13 |
Long-Term Debt to Equity |
|
0.36 |
0.37 |
0.37 |
0.37 |
0.23 |
0.22 |
0.21 |
0.11 |
0.11 |
0.00 |
0.00 |
Financial Leverage |
|
0.60 |
0.32 |
0.46 |
0.38 |
0.38 |
0.38 |
0.38 |
0.39 |
0.32 |
0.25 |
0.25 |
Leverage Ratio |
|
1.69 |
1.76 |
1.55 |
1.46 |
1.47 |
1.47 |
1.46 |
1.47 |
1.40 |
1.33 |
1.33 |
Compound Leverage Factor |
|
1.69 |
1.76 |
1.55 |
1.46 |
1.47 |
1.47 |
1.46 |
1.47 |
1.40 |
1.33 |
1.33 |
Debt to Total Capital |
|
27.27% |
27.70% |
27.61% |
28.06% |
28.25% |
27.63% |
27.46% |
27.91% |
19.33% |
10.90% |
11.65% |
Short-Term Debt to Total Capital |
|
1.01% |
0.92% |
1.01% |
1.40% |
11.50% |
11.64% |
11.90% |
19.96% |
10.72% |
10.90% |
11.65% |
Long-Term Debt to Total Capital |
|
26.26% |
26.78% |
26.60% |
26.67% |
16.75% |
15.99% |
15.57% |
7.96% |
8.61% |
0.00% |
0.00% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
72.73% |
72.30% |
72.39% |
71.94% |
71.75% |
72.37% |
72.54% |
72.09% |
80.67% |
89.10% |
88.35% |
Debt to EBITDA |
|
5.96 |
11.37 |
31.93 |
175.00 |
50.94 |
18.38 |
27.17 |
14.41 |
7.54 |
3.57 |
3.10 |
Net Debt to EBITDA |
|
-0.87 |
1.65 |
6.07 |
18.20 |
-1.89 |
2.48 |
4.98 |
4.63 |
0.28 |
-2.96 |
-1.44 |
Long-Term Debt to EBITDA |
|
5.74 |
10.99 |
30.76 |
166.30 |
30.20 |
10.64 |
15.40 |
4.11 |
3.36 |
0.00 |
0.00 |
Debt to NOPAT |
|
-2,461.43 |
-28.86 |
-17.98 |
-14.53 |
-16.76 |
-16.03 |
-16.49 |
-18.58 |
-12.65 |
-7.92 |
-11.48 |
Net Debt to NOPAT |
|
360.00 |
-4.18 |
-3.42 |
-1.51 |
0.62 |
-2.16 |
-3.03 |
-5.97 |
-0.46 |
6.57 |
5.33 |
Long-Term Debt to NOPAT |
|
-2,370.00 |
-27.90 |
-17.32 |
-13.81 |
-9.93 |
-9.28 |
-9.35 |
-5.30 |
-5.63 |
0.00 |
0.00 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
3,891 |
537 |
1,101 |
135 |
-14 |
-104 |
-202 |
-19 |
526 |
777 |
1,058 |
Operating Cash Flow to CapEx |
|
611.11% |
300.00% |
300.00% |
285.71% |
214.29% |
252.94% |
205.13% |
148.65% |
518.18% |
358.82% |
288.89% |
Free Cash Flow to Firm to Interest Expense |
|
432.32 |
59.71 |
122.29 |
15.02 |
-1.51 |
-11.56 |
-22.41 |
-1.85 |
58.44 |
97.16 |
211.60 |
Operating Cash Flow to Interest Expense |
|
18.33 |
9.33 |
10.33 |
11.11 |
8.33 |
9.56 |
8.89 |
5.50 |
19.00 |
15.25 |
20.80 |
Operating Cash Flow Less CapEx to Interest Expense |
|
15.33 |
6.22 |
6.89 |
7.22 |
4.44 |
5.78 |
4.56 |
1.80 |
15.33 |
11.00 |
13.60 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.06 |
0.23 |
0.27 |
0.29 |
0.30 |
0.31 |
0.32 |
0.33 |
0.35 |
0.37 |
0.38 |
Fixed Asset Turnover |
|
2.38 |
8.09 |
7.36 |
7.09 |
6.84 |
6.88 |
6.70 |
6.55 |
6.66 |
6.76 |
6.76 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
6,318 |
6,199 |
6,244 |
6,236 |
6,312 |
6,254 |
6,431 |
6,244 |
5,772 |
5,441 |
5,381 |
Invested Capital Turnover |
|
0.07 |
0.30 |
0.28 |
0.31 |
0.32 |
0.33 |
0.33 |
0.35 |
0.37 |
0.40 |
0.40 |
Increase / (Decrease) in Invested Capital |
|
-3,924 |
-585 |
-1,116 |
-159 |
-6.00 |
55 |
187 |
8.00 |
-540 |
-813 |
-1,050 |
Enterprise Value (EV) |
|
6,652 |
7,668 |
10,569 |
11,696 |
10,362 |
13,483 |
11,504 |
11,198 |
14,374 |
16,056 |
15,926 |
Market Capitalization |
|
6,904 |
7,419 |
10,241 |
11,514 |
10,428 |
13,250 |
11,180 |
10,638 |
14,333 |
16,548 |
16,217 |
Book Value per Share |
|
$19.05 |
$18.85 |
$19.29 |
$19.17 |
$19.45 |
$19.37 |
$19.88 |
$19.06 |
$20.12 |
$20.76 |
$19.60 |
Tangible Book Value per Share |
|
$8.59 |
$8.22 |
$8.50 |
$8.37 |
$8.38 |
$6.28 |
$6.89 |
$6.19 |
$7.03 |
$7.78 |
$6.74 |
Total Capital |
|
6,318 |
6,199 |
6,244 |
6,236 |
6,312 |
6,254 |
6,431 |
6,244 |
5,772 |
5,441 |
5,381 |
Total Debt |
|
1,723 |
1,717 |
1,724 |
1,750 |
1,783 |
1,728 |
1,766 |
1,743 |
1,116 |
593 |
627 |
Total Long-Term Debt |
|
1,659 |
1,660 |
1,661 |
1,663 |
1,057 |
1,000 |
1,001 |
497 |
497 |
0.00 |
0.00 |
Net Debt |
|
-252 |
249 |
328 |
182 |
-66 |
233 |
324 |
560 |
41 |
-492 |
-291 |
Capital Expenditures (CapEx) |
|
27 |
28 |
31 |
35 |
35 |
34 |
39 |
37 |
33 |
34 |
36 |
Net Nonoperating Expense (NNE) |
|
19 |
24 |
6.60 |
11 |
8.40 |
24 |
8.30 |
6.50 |
6.00 |
16 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
1,723 |
1,717 |
1,724 |
1,750 |
1,783 |
1,728 |
1,766 |
1,743 |
1,116 |
593 |
627 |
Total Depreciation and Amortization (D&A) |
|
47 |
62 |
53 |
38 |
52 |
105 |
58 |
75 |
71 |
69 |
73 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
($0.22) |
($0.29) |
($0.09) |
($0.15) |
($0.12) |
($0.32) |
($0.10) |
($0.07) |
($0.08) |
($0.23) |
$0.03 |
Adjusted Weighted Average Basic Shares Outstanding |
|
240.08M |
242.16M |
234.43M |
233.63M |
233.30M |
233.58M |
234.70M |
233.45M |
232.52M |
234.08M |
242.26M |
Adjusted Diluted Earnings per Share |
|
($0.22) |
($0.29) |
($0.09) |
($0.15) |
($0.12) |
($0.32) |
($0.10) |
($0.07) |
($0.08) |
($0.23) |
$0.03 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
240.08M |
242.16M |
234.43M |
233.63M |
233.30M |
233.58M |
234.70M |
233.45M |
232.52M |
234.08M |
256.19M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
237.73M |
234.34M |
234.02M |
232.83M |
233.60M |
233.47M |
236.19M |
231.44M |
233.56M |
242.56M |
241.45M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
-34 |
-41 |
-11 |
-22 |
-18 |
-42 |
-11 |
-11 |
-13 |
-36 |
5.60 |
Normalized NOPAT Margin |
|
-6.91% |
-9.02% |
-2.28% |
-4.03% |
-3.49% |
-8.25% |
-1.90% |
-1.76% |
-2.19% |
-6.24% |
0.91% |
Pre Tax Income Margin |
|
-9.88% |
-15.11% |
-4.47% |
-6.31% |
-5.37% |
-13.75% |
-3.80% |
-2.52% |
-3.30% |
-8.92% |
1.30% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
-5.33 |
-7.56 |
-2.44 |
-3.78 |
-3.11 |
-7.78 |
-2.33 |
-1.50 |
-2.22 |
-6.38 |
1.60 |
NOPAT to Interest Expense |
|
-3.73 |
-5.29 |
-1.71 |
-2.64 |
-2.18 |
-5.44 |
-1.63 |
-1.05 |
-1.56 |
-4.46 |
1.60 |
EBIT Less CapEx to Interest Expense |
|
-8.33 |
-10.67 |
-5.89 |
-7.67 |
-7.00 |
-11.56 |
-6.67 |
-5.20 |
-5.89 |
-10.63 |
-5.60 |
NOPAT Less CapEx to Interest Expense |
|
-6.73 |
-8.40 |
-5.16 |
-6.53 |
-6.07 |
-9.22 |
-5.97 |
-4.75 |
-5.22 |
-8.71 |
-5.60 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Augmented Payout Ratio |
|
-370.69% |
-937.62% |
-492.81% |
-321.98% |
-324.84% |
-268.35% |
-218.24% |
-346.81% |
-292.48% |
-268.75% |
-669.14% |
Key Financial Trends
Zillow Group (NASDAQ: ZG) has shown a mixed financial performance over the past four years, with recent quarters indicating some improvement but ongoing challenges.
Positive trends and highlights:
- The company reported a net income of $8 million in Q1 2025, a significant improvement from persistent losses in previous quarters dating back to 2022.
- Total revenue has increased from approximately $450 million in Q4 2022 to $615 million in Q1 2025, showing a positive revenue growth trajectory.
- Non-interest income, a major portion of revenue, grew from $459 million in Q4 2022 to $620 million in Q1 2025, driven by strong "Other Non-Interest Income" components.
- Operating cash flow in Q1 2025 was $104 million, indicating healthy cash generation capabilities, and showing an increase compared to some past periods.
- Zillow reduced impairment charges to zero by Q1 2025, compared to charges between $1 million and $10 million in previous years.
- The company maintains a strong asset base totaling approximately $5.75 billion in Q1 2025, with substantial goodwill ($2.82 billion) reflecting acquisition-related investments.
Neutral observations:
- Long-term debt interest expense remains steady at $5 million in Q1 2025 but has trended downward from previous $8-10 million levels, indicating possible debt management.
- Weighted average diluted shares outstanding have remained fairly stable around 230-256 million shares, suggesting no significant dilution events recently.
- Capital expenditures and investment securities purchases remain substantial, around $36 million and $168 million in Q1 2025, respectively, highlighting ongoing investment in growth/assets.
- The company carries significant short-term debt ($627 million) alongside long-term liabilities, requiring monitoring for refinancing risk or cost.
Negative trends and concerns:
- Despite revenue growth, Zillow generated negative net income consistently every quarter from Q3 2022 through Q4 2024, indicating sustained operational losses.
- Marketing and operating expenses are very high, totaling $607 million in Q1 2025, nearly matching total revenues, which compresses profitability.
- Equity retention remains negative with retained earnings at -$1.87 billion in Q1 2025, reflecting cumulative net losses over the years.
- Net cash used in financing activities was very high at -$219 million in Q1 2025, mostly due to a large repurchase of common equity ($250 million), which may impact liquidity if sustained.
- The net change in cash and equivalents was negative $167 million in Q1 2025, continuing a trend of cash decline that started since mid-2023.
- Total liabilities remain elevated at nearly $1 billion, although down from prior periods of $2+ billion, reflecting debt and payables burdens.
- Diluted earnings per share were negative in all quarters between 2022 and 2024, only turning slightly positive ($0.03) in Q1 2025 but still low for investor confidence.
- Non-cash adjustments to reconcile net income and changes in operating capital liabilities have been quite volatile quarter-over-quarter, indicating fluctuating working capital dynamics.
Summary: Zillow Group is evidencing early signs of financial recovery in 2025 after several years of losses. Revenue growth and positive net income in Q1 2025 are encouraging. However, high operating costs, significant equity deficits, and negative cash flows from financing activities highlight ongoing risks. Investors monitoring Zillow should watch future quarters for sustained profitability, margin improvement, and cash flow stability to confirm a durable turnaround.
10/18/25 05:46 PM ETAI Generated. May Contain Errors.