Friday 6 November 2026 Export Z’s income statement to Excel — free account

Zillow Group, Inc.

Z Communication Services Internet Content & Information

Zillow Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.6 billion, up 15.5% from fiscal 2024.

Revenue: +7.10%
EPS: −1,850.0%
Free cash flow: +83.1%
Total debt: +44.1%

Quarter to September 2026, against a year earlier

Dividend growth 5 yrs

30.06 3.84 −11.33%

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Market cap: $6.8B
P/E: 0.0×
Fwd P/E: 139×
Dividend yield: —
F-score: 7/9
Altman Z: 12.64
Beneish M: −2.30
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Zillow Group, Inc. (Z) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2021: revenue by products and services, and margins
Residential	1,572	73.73%
Rentals	264	12.38%
Mortgages	246	11.54%
Other	50	2.35%
Gross margin		84.85%
Operating margin		11.21%
Pre-tax margin		4.74%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2016
Residential	1,704 65.97%	1,594 71.29%	1,452 74.65%	1,522 77.73%	1,572 73.73%	—
Rentals	630 24.39%	453 20.26%	357 18.35%	274 13.99%	264 12.38%	—
Mortgages	199 7.70%	145 6.48%	96 4.94%	119 6.08%	246 11.54%	—
Other	50 1.94%	44 1.97%	40 2.06%	43 2.20%	50 2.35%	—
Internet, Media & Technology	—	—	—	—	—	847 100.00%
Homes	—	—	—	—	—	0 0.00%
Sales Revenue	1,903	1,739	1,548	1,641	—	—
Revenue	2,583	2,236	1,945	1,958	2,132	847

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2016
Mortgages	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡
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Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2019	FY2018	FY2017
Reportable Segments	2,583 100.00%	2,236 100.00%	1,945 100.00%	1,958 100.00%	—	—	—
Homes	—	—	—	—	1,365 49.78%	52 3.93%	0 0.00%
Internet, Media & Technology	—	—	—	—	1,277 46.55%	1,201 90.07%	996 92.52%
Other, not broken out	—	—	—	—	101 3.67%	80 6.00%	81 7.48%
Revenue	2,583	2,236	1,945	1,958	2,743	1,334	1,077

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2019	FY2018	FY2017
Reportable Segments	‡	‡	‡	‡	‡	‡	‡
Internet, Media & Technology	‡	‡	‡	‡	‡	‡	‡
Homes	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡
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Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Average monthly unique users	Q3 FY2026	215.0M	250.0M	−14.00%
Average monthly unique users growth	Q4 FY2025	8.00%	3.00%	—
Purchase loan origination volume	Q3 FY2026	$2.0B	$1.3B	+53.85%
Purchase loan origination volume growth	Q3 FY2026	55.0%	57.0%	—
Visits	Q3 FY2026	2.3B	2.5B	−8.00%
Visits growth	Q4 FY2025	2.00%	3.00%	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
Average monthly unique users	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Average monthly unique users growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Purchase loan origination volume	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Purchase loan origination volume growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Visits	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Visits growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.

Zillow Group, Inc. (Z) revenue by segment, product and region

Where the money comes from and where it goes

Revenue by product or service $m

Operating income by segment $m, and margin

Revenue by segment $m

Operating income by segment $m, and margin

Operating figures as reported in each quarter’s results release or filing

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