Digital real estate marketplace providing home buying, selling, renting, and financing services through online platforms.
Profile & Fundamentals
Zillow Group: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Zillow Group Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Zillow Group, Inc. operates a real estate application and website that connects consumers with technology, agents and loan officers, and digital solutions in the United States. The company operates through four categories: Residential, Mortgages, Rentals, and Other. The Residential segment includes agent and software, as well as new construction marketing solutions and StreetEasy for sale products. This segment also offers advertising and marketing solutions for real estate agents, premier agent, SaaS customer relationship management, real estate transaction management, appointment center, and enhanced listing services. The Rentals segment includes advertising and a suite of tools for property managers, landlords, and other rental professionals, as well as rental applications. The Mortgages segment provides mortgage originations through Zillow Home Loans and advertising to mortgage lenders and other mortgage professionals; and title and escrow services. The company also generates revenue from display advertising. It also offers a brand portfolio including Zillow, Zillow Premier Agent, Zillow Rentals, Zillow New Construction, Trulia, StreetEasy, Out East, HotPads, Follow Up Boss, ShowingTime, dotloop and Zillow Closing; and a suite of marketing software and technology solutions for the real estate industry. Zillow Group, Inc. was founded in 2004 and is headquartered in Seattle, Washington.
Company profile record
Zillow Group Inc Class C
Common Stock · Real Estate · Real Estate Services
Company
- Company / asset
- Zillow Group Inc Class C
- Security type
- Common Stock
- Sector
- Real Estate
- Industry
- Real Estate Services
- HQ
- 🇺🇸 United States
- Head office
- 1301 Second Avenue, Seattle, WA, United States, 98101
Leadership & scale
- Chief executive
- Mr. Jeremy Wacksman
- CEO year born
- 1977
- Full-time employees
- 7.2K
- Fiscal year end
- December
- IPO date
- 2011-07-20
Fundamentals snapshot
- Market Cap
- USD 6.3B
- P/E
- 114.8x
- Revenue (Q2 26)
- USD 772.0M
- Profit (Q2 26)
- USD -4.0M
- Dividend Yield
- --
- Revenue (FY 25)
- USD 2.6B
- Shares in public float
- 207M
- Insider ownership
- 5.52%
Reporting & identifiers
- Symbol
- Z.NASDAQ
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US98954M2008
- Asset ID
- equity_e0efbf2a-5587-5503-9a92-3cbe966529f9
Ownership
Shares Outstanding
Latest: 227.9M | Max: 254.0M | Min: 189.4M
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
90.85%
207.0M latest reported shares
Insider Ownership
5.52%
Latest reported insider stake
Short Float
0.08%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 189,439,000 |
| 2018-01-01 | 203,561,000 |
| 2019-01-01 | 208,204,000 |
| 2020-01-01 | 251,499,000 |
| 2021-01-01 | 254,013,000 |
| 2022-01-01 | 236,246,000 |
| 2023-01-01 | 232,972,000 |
| 2024-01-01 | 236,329,000 |
| 2025-01-01 | 252,387,000 |
| 2026-01-01 | 227,896,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| Caledonia (Private) Investments Pty Ltd | 25,894,393 | 11.52% | 2026-03-31 |
| Independent Franchise Partners LLP | 16,300,754 | 7.25% | 2026-06-30 |
| Capital World Investors | 14,240,643 | 6.33% | 2026-06-30 |
| Vanguard Portfolio Management, LLC | 14,010,084 | 6.23% | 2026-03-31 |
| BlackRock Inc | 10,008,411 | 4.45% | 2026-03-31 |
| Vanguard Capital Management, LLC | 7,501,846 | 3.34% | 2026-03-31 |
| American Funds Growth Fd of Amer A | 6,941,807 | 3.09% | 2026-06-30 |
| Vanguard Real Estate Index Investor | 5,760,379 | 2.56% | 2026-08-31 |
| Vanguard MStar Total Stk Mkt Idx Invest | 5,131,426 | 2.28% | 2026-08-31 |
| State Street Corp | 3,876,050 | 1.72% | 2026-03-31 |
| Vanguard Small Cap Index | 3,727,939 | 1.66% | 2026-08-31 |
| Ninety One UK Limited | 3,473,062 | 1.54% | 2026-06-30 |
| Eminence Capital LLC | 3,445,538 | 1.53% | 2026-03-31 |
| Geode Capital Management, LLC | 3,439,812 | 1.53% | 2026-03-31 |
| Technology Crossover Management IX, Ltd. | 3,047,614 | 1.36% | 2026-06-30 |
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
The latest financial results tell a story of strong top-line recovery alongside fragile accounting profitability. Trailing twelve-month revenue reached 2.81 billion dollars through mid-2026, growing eighteen percent year-over-year despite a frozen housing turnover market. This expansion was driven by multifamily rental revenue surging over thirty percent and purchase mortgage originations jumping seventy-five percent, demonstrating that the business is no longer tethered solely to home sales. However, true accounting profits remain modest, with trailing net income at fifty-five million dollars and the second quarter of 2026 recording a slight net loss. While trailing free cash flow reached 250 million dollars, expanding mortgage originations consume working capital. Long-term progress requires turning top-line momentum into repeatable GAAP net income.
The latest financial results tell a story of strong top-line recovery alongside fragile accounting profitability. Trailing twelve-month revenue reached 2.81 billion dollars through mid-2026, growing eighteen percent year-over-year despite a frozen housing turnover market. This expansion was driven by multifamily rental revenue surging over thirty percent and purchase mortgage originations jumping seventy-five percent, demonstrating that the business is no longer tethered solely to home sales. However, true accounting profits remain modest, with trailing net income at fifty-five million dollars and the second quarter of 2026 recording a slight net loss. While trailing free cash flow reached 250 million dollars, expanding mortgage originations consume working capital. Long-term progress requires turning top-line momentum into repeatable GAAP net income.
Revenue, Net Income, and Free Cash Flow
Latest: USD 2.6B | Max: USD 4.4B | Min: USD -3.3B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: >100x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Gross profit margins remain structurally wide at 74.1%, showcasing strong pricing power across digital marketplace listings. The slight decline from historical eighty-percent levels reflects a growing revenue mix from mortgage originations and rental marketing, which carry higher direct fulfillment costs than pure advertising but contribute substantial incremental gross dollars. In contrast, operating margins have lingered near breakeven, improving from negative territory to slightly positive on a trailing basis. The wide gap between a twenty-three percent adjusted EBITDA margin and negligible GAAP operating income is caused by heavy employee stock compensation. Delivering true operating leverage requires revenue growth to consistently outpace overhead while stock grants moderate.
Gross profit margins remain structurally wide at 74.1%, showcasing strong pricing power across digital marketplace listings. The slight decline from historical eighty-percent levels reflects a growing revenue mix from mortgage originations and rental marketing, which carry higher direct fulfillment costs than pure advertising but contribute substantial incremental gross dollars. In contrast, operating margins have lingered near breakeven, improving from negative territory to slightly positive on a trailing basis. The wide gap between a twenty-three percent adjusted EBITDA margin and negligible GAAP operating income is caused by heavy employee stock compensation. Delivering true operating leverage requires revenue growth to consistently outpace overhead while stock grants moderate.
Profitability Margins
Latest: 74.1% | Max: 92.1% | Min: -26.0%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
74.1%
Gross profit / revenue
Operating Margin
-1.2%
Operating income / revenue
Net Margin
0.9%
Net income / revenue
FCF Margin
9.1%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 846,589,000 | -220,438,000 | -63,077,000 |
| 2017-12-31 | 1,076,794,000 | -94,420,000 | 179,556,000 |
| 2018-12-31 | 1,333,554,000 | -119,858,000 | -74,685,000 |
| 2019-12-31 | 2,742,837,000 | -305,361,000 | -698,809,000 |
| 2020-12-31 | 1,624,000,000 | -162,000,000 | 315,680,000 |
| 2021-12-31 | 2,132,000,000 | -528,000,000 | -3,281,093,000 |
| 2022-12-31 | 1,958,000,000 | -101,000,000 | 4,364,000,000 |
| 2023-12-31 | 1,945,000,000 | -158,000,000 | 189,000,000 |
| 2024-12-31 | 2,236,000,000 | -112,000,000 | 285,000,000 |
| 2025-12-31 | 2,583,000,000 | 23,000,000 | 235,000,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 748.6 | Trailing four quarters |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 91.54 | -22.78 | -26.04 | -7.45 |
| 2017-12-31 | 92.09 | -15.03 | -8.77 | 16.68 |
| 2018-12-31 | 88.48 | -9.67 | -8.99 | -5.6 |
| 2019-12-31 | 47.79 | -9 | -11.13 | -25.48 |
| 2020-12-31 | 84.3 | 9.91 | -9.98 | 19.44 |
| 2021-12-31 | 84.85 | 11.21 | -24.77 | -153.9 |
| 2022-12-31 | 81.26 | -4.75 | -5.16 | 222.88 |
| 2023-12-31 | 78.35 | -13.88 | -8.12 | 9.72 |
| 2024-12-31 | 76.43 | -8.81 | -5.01 | 12.75 |
| 2025-12-31 | 74.14 | -1.24 | 0.89 | 9.1 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-29.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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