ZILLOW GROUP, INC.

EDGAR

Annual consolidated revenue for 2025: about USD 2.583B, using the latest reported figures. The previous period, 2024, was about USD 2.236B.

Watchlist

Latest quarter

Revenue

772 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

-1.3%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: -10000000 USD Source
  • Revenue: 772000000 USD Source

Operating cash flow

11 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 211000000 USD Source
  • Operating Cash Flow: 200000000 USD Source

Free cash flow

-25 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 211000000 USD Source
  • Operating Cash Flow: 200000000 USD Source
  • Capital Expenditure: 70000000 USD Source
  • Capital Expenditure: 34000000 USD Source
Cash and cash equivalents
572 million USD Source
Exact value

572000000 USD

Long-term debt including current maturities
Not available
Shares outstanding
Not available

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

2.81 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Revenue: 676000000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 2583000000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 1929000000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 708000000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 772000000 USD · 2026-04-01 – 2026-06-30 Source

Net income

55 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Net income: 10000000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: 23000000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 20000000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 46000000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: -4000000 USD · 2026-04-01 – 2026-06-30 Source

Operating cash flow

388 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: 296000000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 191000000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 368000000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 296000000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 200000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 211000000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 200000000 USD · 2026-01-01 – 2026-03-31 Source

Capital expenditure

130 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Capital expenditure: 105000000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 73000000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 133000000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 105000000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 34000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 70000000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 34000000 USD · 2026-01-01 – 2026-03-31 Source

Free cash flow

258 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: 296000000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 191000000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 368000000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 296000000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 200000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 211000000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 200000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 105000000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 73000000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 133000000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 105000000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 34000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 70000000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 34000000 USD · 2026-01-01 – 2026-03-31 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-28.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 11 of 11 periods available· newest 2025-12-31
  • Operating income: 11 of 11 periods available· newest 2025-12-31
  • Net income: 11 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 11 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 11 of 11 periods available· newest 2025-12-31
  • Total assets: 11 of 11 periods available· newest 2025-12-31
  • Total liabilities: 11 of 11 periods available· newest 2025-12-31
  • Current assets: 11 of 11 periods available· newest 2025-12-31
  • Current liabilities: 11 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
  • long term debt: No compatible figures in this window
  • shares outstanding: No compatible figures in this window

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +15.5%

    Prior period

    USD 2.24 billion

    –

    Current period

    USD 2.58 billion

    –

    Exact inputs and evidence

    2583000000 − 2236000000 = 347000000 USD

    2236000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    2583000000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    +USD 135 million

    Prior period

    −USD 112 million

    –

    Current period

    USD 23 million

    –

    Exact inputs and evidence

    23000000 − -112000000 = 135000000 USD

    -112000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    23000000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    -14%

    Prior period

    USD 428 million

    –

    Current period

    USD 368 million

    –

    Exact inputs and evidence

    368000000 − 428000000 = -60000000 USD

    428000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    368000000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    -7%

    Prior period

    USD 143 million

    –

    Current period

    USD 133 million

    –

    Exact inputs and evidence

    133000000 − 143000000 = -10000000 USD

    143000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    133000000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 2.58 billion 100% of revenue
  • Operating costs Derived USD 2.62 billion 101% of revenue
  • Operating income −USD 34 million −1.3% of revenue
  • Tax, interest and other Derived −USD 57 million −2.2% of revenue
  • Net income USD 23 million 0.9% of revenue

Cash

  • Operating cash flow USD 368 million 14% of revenue
  • Capital expenditure USD 133 million 5.1% of revenue
  • Free cash flow Derived USD 235 million 9.1% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 Operating loss: operating costs were 123% of revenue.
  • 2017 Operating loss: operating costs were 115% of revenue.
  • 2018 Operating loss: operating costs were 110% of revenue.
  • 2019 Operating loss: operating costs were 109% of revenue.
  • 2020 Net loss: net income was −10% of revenue.
  • 2021 Net loss: net income was −25% of revenue.
  • 2022 Operating loss: operating costs were 105% of revenue.
  • 2023 Operating loss: operating costs were 114% of revenue.
  • 2024 Operating loss: operating costs were 109% of revenue.
  • 2025 Operating loss: operating costs were 101% of revenue.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-31846589000 1039443000 Derived -192854000 27584000 Derived -220438000 -53415000 Derived
Source
2017 2017-01-01 – 2017-12-311076794000 1238668000 Derived -161874000 -67454000 Derived -94420000 191463000 Derived
Source
2018 2018-01-01 – 2018-12-311333554000 1462529000 Derived -128975000 -9117000 Derived -119858000 -62204000 Derived
Source
2019 2019-01-01 – 2019-12-312742837000 2990322000 Derived -247485000 57876000 Derived -305361000 -679218000 Derived
Source
2020 2020-01-01 – 2020-12-311624000000 1515000000 Derived 109000000 271000000 Derived -162000000 338000000 Derived
Source
2021 2021-01-01 – 2021-12-312132000000 1893000000 Derived 239000000 767000000 Derived -528000000 -3251000000 Derived
Source
2022 2022-01-01 – 2022-12-311958000000 2051000000 Derived -93000000 8000000 Derived -101000000 4389000000 Derived
Source
2023 2023-01-01 – 2023-12-311945000000 2215000000 Derived -270000000 -112000000 Derived -158000000 219000000 Derived
Source
2024 2024-01-01 – 2024-12-312236000000 2433000000 Derived -197000000 -85000000 Derived -112000000 285000000 Derived
Source
2025 2025-01-01 – 2025-12-312583000000 2617000000 Derived -34000000 -57000000 Derived 23000000 235000000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 2.6B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.3.0B2.2B1.5B740.6M0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue846589000
2017Revenue1076794000
2018Revenue1333554000
2019Revenue2742837000
2020Revenue1624000000
2021Revenue2132000000
2022Revenue1958000000
2023Revenue1945000000
2024Revenue2236000000
2025Revenue2583000000

Revenue growth

Change in revenue from the same financial period one year earlier.

15.5% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.117%75%32%-10%-53%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over yearNo prior comparable period
2017Year over year27.2%
2018Year over year23.8%
2019Year over year105.7%
2020Year over year-40.8%
2021Year over year31.3%
2022Year over year-8.2%
2023Year over year-0.7%
2024Year over year15%
2025Year over year15.5%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin -1.3% 2025
Net margin 0.9% 2025
Free cash flow margin 9.1% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.254%145%36%-73%-183%201620212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin-22.8%
2017Operating margin-15%
2018Operating margin-9.7%
2019Operating margin-9%
2020Operating margin6.7%
2021Operating margin11.2%
2022Operating margin-4.7%
2023Operating margin-13.9%
2024Operating margin-8.8%
2025Operating margin-1.3%
2016Net margin-26%
2017Net margin-8.8%
2018Net margin-9%
2019Net margin-11.1%
2020Net margin-10%
2021Net margin-24.8%
2022Net margin-5.2%
2023Net margin-8.1%
2024Net margin-5%
2025Net margin0.9%
2016Free cash flow margin-6.3%
2017Free cash flow margin17.8%
2018Free cash flow margin-4.7%
2019Free cash flow margin-24.8%
2020Free cash flow margin20.8%
2021Free cash flow margin-152.5%
2022Free cash flow margin224.2%
2023Free cash flow margin11.3%
2024Free cash flow margin12.7%
2025Free cash flow margin9.1%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 368M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.5.1B2.9B663.5M-1.6B-3.8B201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow8645000
2017Operating cash flow258191000
2018Operating cash flow3850000
2019Operating cash flow-612174000
2020Operating cash flow423000000
2021Operating cash flow-3177000000
2022Operating cash flow4504000000
2023Operating cash flow354000000
2024Operating cash flow428000000
2025Operating cash flow368000000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 235M 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.5.0B2.8B569.0M-1.6B-3.9B201620212025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flow-53415000
2017Free cash flow191463000
2018Free cash flow-62204000
2019Free cash flow-679218000
2020Free cash flow338000000
2021Free cash flow-3251000000
2022Free cash flow4389000000
2023Free cash flow219000000
2024Free cash flow285000000
2025Free cash flow235000000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

14.1% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.54%41%27%14%0%201620212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016Liabilities / assets19.6%
2017Liabilities / assets17.6%
2018Liabilities / assets23.9%
2019Liabilities / assets44%
2020Liabilities / assets36.7%
2021Liabilities / assets50.1%
2022Liabilities / assets31.7%
2023Liabilities / assets32%
2024Liabilities / assets16.8%
2025Liabilities / assets14.1%

Current assets to current liabilities

Current assets divided by current liabilities.

3.13× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.14.41×10.81×7.21×3.60×0.00×201620212025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016Current assets / current liabilities5.99×
2017Current assets / current liabilities7.11×
2018Current assets / current liabilities6.58×
2019Current assets / current liabilities3.81×
2020Current assets / current liabilities5.46×
2021Current assets / current liabilities1.98×
2022Current assets / current liabilities13.34×
2023Current assets / current liabilities3.24×
2024Current assets / current liabilities2.81×
2025Current assets / current liabilities3.13×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
−USD 220.44 million
Exact value

Exact value: -220438000 USD

2016-01-01 – 2016-12-31: -220438000 USD Inspect Net Income Open source
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USD 8.65 million
Exact value

Exact value: 8645000 USD

2016-01-01 – 2016-12-31: 8645000 USD Inspect Operating Cash Flow Open source
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USD 62.06 million
Exact value

Exact value: 62060000 USD

2016-01-01 – 2016-12-31: 62060000 USD Inspect Capital Expenditure Open source
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−USD 53.42 million
Calculation and evidence

8645000 − 62060000 USD

Exact free cash flow: -53415000 USD

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2017 2017-01-01 – 2017-12-31
−USD 94.42 million
Exact value

Exact value: -94420000 USD

2017-01-01 – 2017-12-31: -94420000 USD Inspect Net Income Open source
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USD 258.19 million
Exact value

Exact value: 258191000 USD

2017-01-01 – 2017-12-31: 258191000 USD Inspect Operating Cash Flow Open source
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USD 66.73 million
Exact value

Exact value: 66728000 USD

2017-01-01 – 2017-12-31: 66728000 USD Inspect Capital Expenditure Open source
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USD 191.46 million
Calculation and evidence

258191000 − 66728000 USD

Exact free cash flow: 191463000 USD

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2018 2018-01-01 – 2018-12-31
−USD 119.86 million
Exact value

Exact value: -119858000 USD

2018-01-01 – 2018-12-31: -119858000 USD Inspect Net Income Open source
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USD 3.85 million
Exact value

Exact value: 3850000 USD

2018-01-01 – 2018-12-31: 3850000 USD Inspect Operating Cash Flow Open source
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USD 66.05 million
Exact value

Exact value: 66054000 USD

2018-01-01 – 2018-12-31: 66054000 USD Inspect Capital Expenditure Open source
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−USD 62.2 million
Calculation and evidence

3850000 − 66054000 USD

Exact free cash flow: -62204000 USD

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2019 2019-01-01 – 2019-12-31
−USD 305.36 million
Exact value

Exact value: -305361000 USD

2019-01-01 – 2019-12-31: -305361000 USD Inspect Net Income Open source
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−USD 612.17 million
Exact value

Exact value: -612174000 USD

2019-01-01 – 2019-12-31: -612174000 USD Inspect Operating Cash Flow Open source
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USD 67.04 million
Exact value

Exact value: 67044000 USD

2019-01-01 – 2019-12-31: 67044000 USD Inspect Capital Expenditure Open source
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−USD 679.22 million
Calculation and evidence

-612174000 − 67044000 USD

Exact free cash flow: -679218000 USD

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2020 2020-01-01 – 2020-12-31
−USD 162 million
Exact value

Exact value: -162000000 USD

2020-01-01 – 2020-12-31: -162000000 USD Inspect Net Income Open source
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USD 423 million
Exact value

Exact value: 423000000 USD

2020-01-01 – 2020-12-31: 423000000 USD Inspect Operating Cash Flow Open source
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USD 85 million
Exact value

Exact value: 85000000 USD

2020-01-01 – 2020-12-31: 85000000 USD Inspect Capital Expenditure Open source
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USD 338 million
Calculation and evidence

423000000 − 85000000 USD

Exact free cash flow: 338000000 USD

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2021 2021-01-01 – 2021-12-31
−USD 528 million
Exact value

Exact value: -528000000 USD

2021-01-01 – 2021-12-31: -528000000 USD Inspect Net Income Open source
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−USD 3.18 billion
Exact value

Exact value: -3177000000 USD

2021-01-01 – 2021-12-31: -3177000000 USD Inspect Operating Cash Flow Open source
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USD 74 million
Exact value

Exact value: 74000000 USD

2021-01-01 – 2021-12-31: 74000000 USD Inspect Capital Expenditure Open source
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−USD 3.25 billion
Calculation and evidence

-3177000000 − 74000000 USD

Exact free cash flow: -3251000000 USD

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2022 2022-01-01 – 2022-12-31
−USD 101 million
Exact value

Exact value: -101000000 USD

2022-01-01 – 2022-12-31: -101000000 USD Inspect Net Income Open source
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USD 4.5 billion
Exact value

Exact value: 4504000000 USD

2022-01-01 – 2022-12-31: 4504000000 USD Inspect Operating Cash Flow Open source
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USD 115 million
Exact value

Exact value: 115000000 USD

2022-01-01 – 2022-12-31: 115000000 USD Inspect Capital Expenditure Open source
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USD 4.39 billion
Calculation and evidence

4504000000 − 115000000 USD

Exact free cash flow: 4389000000 USD

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2023 2023-01-01 – 2023-12-31
−USD 158 million
Exact value

Exact value: -158000000 USD

2023-01-01 – 2023-12-31: -158000000 USD Inspect Net Income Open source
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USD 354 million
Exact value

Exact value: 354000000 USD

2023-01-01 – 2023-12-31: 354000000 USD Inspect Operating Cash Flow Open source
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USD 135 million
Exact value

Exact value: 135000000 USD

2023-01-01 – 2023-12-31: 135000000 USD Inspect Capital Expenditure Open source
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USD 219 million
Calculation and evidence

354000000 − 135000000 USD

Exact free cash flow: 219000000 USD

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2024 2024-01-01 – 2024-12-31
−USD 112 million
Exact value

Exact value: -112000000 USD

2024-01-01 – 2024-12-31: -112000000 USD Inspect Net Income Open source
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USD 428 million
Exact value

Exact value: 428000000 USD

2024-01-01 – 2024-12-31: 428000000 USD Inspect Operating Cash Flow Open source
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USD 143 million
Exact value

Exact value: 143000000 USD

2024-01-01 – 2024-12-31: 143000000 USD Inspect Capital Expenditure Open source
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USD 285 million
Calculation and evidence

428000000 − 143000000 USD

Exact free cash flow: 285000000 USD

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2025 2025-01-01 – 2025-12-31
USD 23 million
Exact value

Exact value: 23000000 USD

2025-01-01 – 2025-12-31: 23000000 USD Inspect Net Income Open source
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USD 368 million
Exact value

Exact value: 368000000 USD

2025-01-01 – 2025-12-31: 368000000 USD Inspect Operating Cash Flow Open source
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USD 133 million
Exact value

Exact value: 133000000 USD

2025-01-01 – 2025-12-31: 133000000 USD Inspect Capital Expenditure Open source
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USD 235 million
Calculation and evidence

368000000 − 133000000 USD

Exact free cash flow: 235000000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

67 filings · 6,705 latest values · 6,716 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001617640, 1617640, Z, ZG, edgar:1617640

Also known as ZILLOW GROUP, INC., Zebra Holdco Inc., Zillow Group, Inc.