Zillow Group, Inc. (ZG) Financial Statements
Industry: Business Services (Other) (Services)
In fiscal 2025, Zillow reported revenue of $2.58B, up 15.5% from $2.24B the year before. Net income was $23.0M (a 0.9% net margin), or $0.09 per diluted share. Gross margin was 74.1% and operating margin was -1.3%. Operating activities generated $368.0M of cash, leaving $235.0M of free cash flow. At fiscal year end, Zillow held $5.68B in total assets against $801.0M in total liabilities, including $768.0M of cash and equivalents.
Open the full interactive Zillow financials → Quarterly statements, key ratios, valuation history and price charts.
Zillow Key Stats
| Share Price | $28.85 |
|---|---|
| Market Cap | $6.57B |
| P/E Ratio | 320.6 |
| Revenue YoY Growth | +15.5% |
| 52-Week Range | $27.70 – $74.58 |
| Shares Outstanding | 227.9 million (basic, 2026 Q2) |
Zillow Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $3.34B | $8.15B | $1.96B | $1.95B | $2.24B | $2.58B |
| Cost of Goods Sold | $3.38B | $2.08B | $1.68B | $1.79B | $1.91B | $1.95B |
| Gross Profit | $1.58B | $1.75B | $1.59B | $1.52B | $1.71B | $1.92B |
| Operating Income | -$41.4M | -$327.7M | -$93.0M | -$270.0M | -$197.0M | -$34.0M |
| Pre-Tax Income | -$169.6M | -$526.5M | -$85.0M | -$154.0M | -$107.0M | $25.0M |
| Income Tax | -$7.5M | $1.3M | $3.0M | $4.0M | $5.0M | $2.0M |
| Net Income | -$162.1M | -$527.8M | -$101.0M | -$158.0M | -$112.0M | $23.0M |
| Diluted EPS | -$0.72 | -$2.11 | -$0.42 | -$0.68 | -$0.48 | $0.09 |
Zillow Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $676.0M | $654.0M | $708.0M | $772.0M |
| Net Income | $10.0M | $3.0M | $46.0M | -$4.0M |
| Diluted EPS | $0.04 | $0.01 | $0.19 | -$0.02 |
Zillow Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.70B | $2.61B | $1.47B | $1.49B | $1.08B | $768.0M |
| Current Assets | $4.96B | $7.68B | $3.60B | $3.15B | $2.33B | $2.12B |
| Total Assets | $7.49B | $10.70B | $6.56B | $6.65B | $5.83B | $5.68B |
| Current Liabilities | $908.6M | $3.88B | $270.0M | $971.0M | $831.0M | $679.0M |
| Total Long-Term Debt | $1.61B | $1.32B | $1.70B | $1.70B | $563.0M | — |
| Total Liabilities | $2.74B | $5.35B | $2.08B | $2.13B | $981.0M | $801.0M |
| Shareholders' Equity | $4.74B | $5.34B | $4.48B | $4.53B | $4.85B | $4.88B |
Zillow Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $424.2M | -$3.18B | $4.50B | $354.0M | $428.0M | $368.0M |
| Cash From Investing | -$1.04B | $1.09B | -$1.53B | $25.0M | $395.0M | -$6.0M |
| Cash From Financing | $1.16B | $3.15B | -$4.34B | -$352.0M | -$1.23B | -$674.0M |
| Free Cash Flow | $339.3M | -$3.25B | $4.39B | $219.0M | $285.0M | $235.0M |
Figures from Zillow's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Zillow financials page for every line item.
Zillow Company Profile
| Ticker | ZG |
|---|---|
| Exchange | Nasdaq |
| Industry | Business Services (Other) (Services) |
| Headquarters | Seattle, Washington |
| Incorporated in | Washington |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001617640 |
Frequently Asked Questions
What was Zillow's revenue in fiscal 2025?
Zillow (ZG) reported revenue of $2.58B for fiscal 2025.
What is Zillow's annual revenue history?
Zillow's annual revenue by fiscal year: 2020: $3.34B; 2021: $8.15B; 2022: $1.96B; 2023: $1.95B; 2024: $2.24B; 2025: $2.58B.
What was Zillow's net income in fiscal 2025?
Zillow reported net income of $23.0M for fiscal 2025.
What was Zillow's earnings per share (EPS) in fiscal 2025?
Zillow's diluted EPS was $0.09 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Zillow generate in fiscal 2025?
Zillow generated $235.0M of free cash flow in fiscal 2025.
What was Zillow's revenue last quarter?
In its most recent reported quarter (2026 Q2), Zillow reported revenue of $772.0M.
How many shares of Zillow are outstanding?
Zillow reported a weighted average of 227.9 million basic shares outstanding in 2026 Q2.
What is Zillow's market cap?
Based on its latest closing price, Zillow (ZG) has a market capitalization of about $6.57B.
When does Zillow's fiscal year end?
Zillow's fiscal year end, as registered with the SEC, is December 31.
Where is Zillow headquartered?
Zillow lists its business address in Seattle, Washington in its SEC filings.