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Zillow Group (Z) Financials

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$88.25 +0.81 (+0.93%)
As of 01:22 PM Eastern
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Annual Income Statements for Zillow Group

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.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -149 -220 -94 -120 -305 -162 -528 -101 -158 -112
Consolidated Net Income / (Loss)		 -149 -220 -94 -120 -305 -162 -528 -101 -158 -112
Net Income / (Loss) Continuing Operations		 -149 -220 -94 -120 -305 5.00 102 -88 -158 -112
Total Pre-Tax Income 		-154 -220 -184 -151 -310 -3.00 101 -85 -154 -107
Total Revenue		 641 819 1,055 1,312 2,681 1,512 1,994 1,966 2,061 2,326
Net Interest Income / (Expense)		 -5.49 -7.41 -28 -41 -102 -138 -128 -35 -36 -36
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 5.49 7.41 28 41 102 138 128 35 36 36
Long-Term Debt Interest Expense		 5.49 7.41 28 41 102 138 128 35 36 36
Total Non-Interest Income		 646 827 1,082 1,353 2,782 1,650 2,122 2,001 2,097 2,362
Other Service Charges		 1.50 2.71 5.39 19 40 25 7.00 43 151 127
Net Realized & Unrealized Capital Gains on Investments		 - -23 - 0.00 0.00 1.00 -17 0.00 1.00 -1.00
Other Non-Interest Income		 645 847 1,077 1,334 2,743 1,624 2,132 1,958 1,945 2,236
Total Non-Interest Expense		 794 1,039 1,239 1,463 2,990 1,515 1,893 2,051 2,215 2,433
Marketing Expense		 493 638 768 963 1,080 859 1,136 1,162 1,218 1,375
Other Operating Expenses		 249 400 296 416 1,910 579 737 865 974 1,051
Impairment Charge		 36 0.00 174 79 - 77 10 24 19 6.00
Restructuring Charge		 17 1.42 0.46 4.35 0.65 0.00 10 0.00 4.00 1.00
Income Tax Expense		 -4.65 0.13 -90 -31 -4.26 -8.00 -1.00 3.00 4.00 5.00
Net Income / (Loss) Discontinued Operations		 - - - - - -167 -630 -13 0.00 0.00
Basic Earnings per Share		 ($0.88) ($1.22) ($0.51) ($0.61) ($1.48) ($0.72) ($2.11) ($0.42) ($0.68) ($0.48)
Weighted Average Basic Shares Outstanding		 169.77M 180.15M 186.45M 197.94M 206.38M 223.85M 249.94M 242.16M 233.58M 234.08M
Diluted Earnings per Share		 ($0.88) ($1.22) ($0.51) ($0.61) ($1.48) ($0.70) ($2.02) ($0.42) ($0.68) ($0.48)
Weighted Average Diluted Shares Outstanding		 169.77M 180.15M 186.45M 197.94M 206.38M 231.44M 261.83M 242.16M 233.58M 234.08M
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

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
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
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
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
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
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
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
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
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
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
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
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
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
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
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's recent financial data for Q1 2025 compared to previous quarters and years indicates several important trends and insights as follows:

  • Zillow reported a positive net income of $8 million in Q1 2025, a notable improvement from losses in prior quarters (for instance, Q4 2024 had a net loss of $52 million).
  • Net cash from continuing operating activities increased to $104 million in Q1 2025, signaling stronger operating cash flows versus $122 million in Q4 2024 and $80 million in Q1 2024.
  • Total revenue has grown to $615 million in Q1 2025 from $572 million in Q4 2024 and $553 million in Q1 2024, showing upward momentum.
  • Total non-interest income rose to $620 million in Q1 2025, up from $580 million in Q4 2024, largely driven by other non-interest sources totaling $598 million.
  • Marketing expense remains high at $347 million in Q1 2025, slightly lower than $351 million in Q4 2024, reflecting continued significant investment in growth initiatives.
  • Total non-interest expense slightly decreased to $607 million in Q1 2025 from $623 million in Q4 2024, which may signal early cost control efforts.
  • Cash and cash equivalents stood at $914 million at Q1 2025, down from $1.07 billion in Q3 2024 but healthy for liquidity purposes.
  • Long-term debt interest expense decreased to $5 million in Q1 2025 from $8 million in Q4 2024, possibly due to debt reduction but indicating previous high leverage costs.
  • Despite improved net income, Zillow still shows a retained earnings deficit of approximately -$1.87 billion at Q1 2025, indicating cumulative historical losses.
  • Net cash used in financing activities was negative $219 million in Q1 2025, driven mainly by repurchase of common equity of $250 million, which may reduce liquidity.

Summary: Zillow Group is showing initial signs of financial recovery, with a return to positive net income and solid operating cash flow in Q1 2025 after several quarters of losses. Revenues and non-interest income have been increasing, aided by consistent marketing spend to support growth. However, the company continues to carry significant accumulated losses and negative retained earnings, and it faces substantial debt-related expenses. The negative net cash from financing activities largely reflects heavy share buybacks. Investors should monitor whether Zillow can sustain profitability, manage expenses effectively, and improve its balance sheet strength over coming quarters.

08/25/25 12:06 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Zillow Group's Financials

When does Zillow Group's financial year end?

According to the most recent income statement we have on file, Zillow Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Zillow Group's net income changed over the last 9 years?

Zillow Group's net income were at -$112 million at the end of 2024, a 29.1% decrease from 2023, and a 24.8% decrease since 2015. See Zillow Group's forecast for analyst expectations on what’s next for the company.

How has Zillow Group's revenue changed over the last 9 years?

Over the last 9 years, Zillow Group's total revenue changed from $640.69 million in 2015 to $2.33 billion in 2024, a change of 263.0%.

How much debt does Zillow Group have?

Zillow Group's total liabilities were at $981 million at the end of 2024, a 53.9% decrease from 2023, and a 114.8% increase since 2015.

How much cash does Zillow Group have?

In the past 9 years, Zillow Group's cash and equivalents has ranged from $229.14 million in 2015 to $2.32 billion in 2021, and is currently $1.08 billion as of their latest financial filing in 2024.

How has Zillow Group's book value per share changed over the last 9 years?

Over the last 9 years, Zillow Group's book value per share changed from 15.05 in 2015 to 20.76 in 2024, a change of 37.9%.


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This page (NASDAQ:Z) was last updated on 8/25/2025 by MarketBeat.com Staff
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