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Zillow Group, Inc. Class C (Z) 10-Year Financial Performance & Capital Metrics

Z • • Industrial / General
Communication ServicesInternet ServicesOnline Marketplaces & ServicesReal Estate Platforms
AboutZillow Group, Inc., a digital real estate company, operates real estate brands on mobile applications and Websites in the United States. The company operates through three segments: Homes; Internet, Media & Technology; and Mortgages. The Homes segment is involved in resale of homes; and title and escrow services to home buyers and sellers, including title search procedures for title insurance policies, escrow, and other closing services. The IMT segment offers premier agent, rentals, and new construction marketplaces, as well as dotloop, display, and other advertising, as well as business software solutions. The Mortgage segment provides home loans; and marketing products including custom quote and connect services. Its portfolio of brands includes Zillow Rentals, Trulia, StreetEasy, Zillow Closing Services, HotPads, and Out East. The company was incorporated in 2004 and is headquartered in Seattle, Washington.Show more
  • Revenue $2.24B +15.0%
  • EBITDA $53M +296.3%
  • Net Income -$112M +29.1%
  • EPS (Diluted) -0.48 +29.4%
  • Gross Margin 76.43% -2.5%
  • EBITDA Margin 2.37% +270.7%
  • Operating Margin -8.81% +36.5%
  • Net Margin -5.01% +38.3%
  • ROE -2.39% +31.9%
  • ROIC -3.18% +23.4%
  • Debt/Equity 0.14 -66.4%
  • Interest Coverage -5.47 +27.0%
Technical Analysis

Price & Volume

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Growth Metrics

Revenue CAGR

10Y21.24%
5Y-4%
3Y1.6%
TTM15.17%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM75.94%

EPS CAGR

10Y-
5Y-
3Y-
TTM75.21%

ROCE

10Y Avg-3.2%
5Y Avg-0.66%
3Y Avg-3.21%
Latest-3.69%

Peer Comparison

Real Estate Platforms
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Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
Safety & Leverage
TTM Growth
Famous Investor Metrics
Dividends
Latest Quarter
Momentum & Returns
Total Return (DRIP)
Technical
Volume & Trading
Shares & Dilution
Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
ZGZillow Group, Inc. Class A3.33B67.17-139.9414.96%-1.29%-0.64%8.55%0.14
ZZillow Group, Inc. Class C12.64B67.89-141.4414.96%-1.29%-0.64%2.25%0.14

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+644.68M846.59M1.08B1.33B2.74B1.62B2.13B1.96B1.95B2.24B
Revenue Growth %0.98%0.31%0.27%0.24%1.06%-0.41%0.31%-0.08%-0.01%0.15%
Cost of Goods Sold+61.61M71.59M85.2M153.59M1.43B255M323M367M421M527M
COGS % of Revenue0.1%0.08%0.08%0.12%0.52%0.16%0.15%0.19%0.22%0.24%
Gross Profit+583.06M775M991.59M1.18B1.31B1.37B1.81B1.59B1.52B1.71B
Gross Margin %0.9%0.92%0.92%0.88%0.48%0.84%0.85%0.81%0.78%0.76%
Gross Profit Growth %0.97%0.33%0.28%0.19%0.11%0.04%0.32%-0.12%-0.04%0.12%
Operating Expenses+676.1M967.68M979M1.23B1.56B1.21B1.57B1.68B1.79B1.91B
OpEx % of Revenue1.05%1.14%0.91%0.92%0.57%0.74%0.74%0.86%0.92%0.85%
Selling, General & Admin477.53M694.61M659.02M814.77M1.08B809M1.13B1.16B1.21B1.31B
SG&A % of Revenue0.74%0.82%0.61%0.61%0.39%0.5%0.53%0.59%0.62%0.59%
Research & Development198.56M273.07M319.99M410.82M477.35M349M421M498M560M585M
R&D % of Revenue0.31%0.32%0.3%0.31%0.17%0.21%0.2%0.25%0.29%0.26%
Other Operating Expenses1.5M2.71M5.38M0050M20M24M23M7M
Operating Income+-149.53M-192.85M-161.87M-128.97M-246.84M161M239M-93M-270M-197M
Operating Margin %-0.23%-0.23%-0.15%-0.1%-0.09%0.1%0.11%-0.05%-0.14%-0.09%
Operating Income Growth %-2.35%-0.29%0.16%0.2%-0.91%1.65%0.48%-1.39%-1.9%0.27%
EBITDA+-74.14M-92.26M-51.72M-29.58M-136.23M247M392M87M-27M53M
EBITDA Margin %-0.12%-0.11%-0.05%-0.02%-0.05%0.15%0.18%0.04%-0.01%0.02%
EBITDA Growth %-7.17%-0.24%0.44%0.43%-3.6%2.81%0.59%-0.78%-1.31%2.96%
D&A (Non-Cash Add-back)75.39M100.59M110.16M99.39M110.61M86M153M180M243M250M
EBIT-148.03M-212.9M-156.49M-109.7M-207.83M186M229M-50M-118M-71M
Net Interest Income+-5.49M-7.41M-27.52M-41.26M-101.79M-155.23M-128M-35M-36M-36M
Interest Income0000000000
Interest Expense5.49M7.41M27.52M41.26M101.79M155.23M128M35M36M36M
Other Income/Expense-3.99M-27.45M-22.13M-21.98M-62.78M-164M-138M8M116M90M
Pretax Income+-153.52M-220.31M-184.01M-150.96M-309.62M-3M101M-85M-154M-107M
Pretax Margin %-0.24%-0.26%-0.17%-0.11%-0.11%-0%0.05%-0.04%-0.08%-0.05%
Income Tax+-4.64M130K-89.59M-31.1M-4.26M-8M-1M3M4M5M
Effective Tax Rate %0.97%1%0.51%0.79%0.99%54%-5.23%1.19%1.03%1.05%
Net Income+-148.87M-220.44M-94.42M-119.86M-305.36M-162M-528M-101M-158M-112M
Net Margin %-0.23%-0.26%-0.09%-0.09%-0.11%-0.1%-0.25%-0.05%-0.08%-0.05%
Net Income Growth %-2.41%-0.48%0.57%-0.27%-1.55%0.47%-2.26%0.81%-0.56%0.29%
Net Income (Continuing)-148.87M-220.44M-94.42M-119.86M-305.36M5M102M-88M-158M-112M
Discontinued Operations00000-167M-630M-13M00
Minority Interest0000000000
EPS (Diluted)+-0.88-1.22-0.51-0.61-1.48-0.72-2.11-0.36-0.68-0.48
EPS Growth %-1.44%-0.39%0.58%-0.2%-1.43%0.51%-1.93%0.83%-0.89%0.29%
EPS (Basic)-0.88-1.22-0.51-0.61-1.48-0.72-2.11-0.36-0.68-0.48
Diluted Shares Outstanding169.77M180.15M186.45M197.94M206.38M223.85M249.94M242.16M233.57M234.08M
Basic Shares Outstanding169.77M180.15M186.45M197.94M206.38M223.85M249.94M242.16M233.57M234.08M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+574.09M581.81M841.52M1.89B3.51B4.96B7.68B3.6B3.15B2.33B
Cash & Short-Term Investments520.29M507.51M762.54M1.55B2.42B3.92B2.83B3.36B2.81B1.86B
Cash Only229.14M243.59M352.1M651.06M1.14B1.7B2.31B1.47B1.49B1.08B
Short-Term Investments291.15M262.87M410.44M903.87M1.28B2.22B514M1.9B1.32B776M
Accounts Receivable29.79M40.53M54.4M66.08M67M69.94M77M72M96M104M
Days Sales Outstanding16.8717.4718.4418.098.9215.7213.1813.4218.0216.98
Inventory000162.83M836.63M491.29M3.91B000
Days Inventory Outstanding---386.96213.24703.224.42K---
Other Current Assets24.02M34.82M24.59M47.79M126.15M406.56M707.78M169M243M372M
Total Non-Current Assets+2.56B2.57B2.39B2.4B2.62B2.52B3.02B2.96B3.5B3.5B
Property, Plant & Equipment85.52M98.29M112.27M135.17M382.64M384.11M345M397M125.92M103.22M
Fixed Asset Turnover7.54x8.61x9.59x9.87x7.17x4.23x6.18x4.93x15.45x21.66x
Goodwill1.91B1.92B1.93B1.98B1.98B1.98B2.37B2.37B2.82B2.82B
Intangible Assets558.88M527.46M319.71M215.9M190.57M94.77M176M154M516.08M522.78M
Long-Term Investments0000000000
Other Non-Current Assets8.04M17.59M25.93M62.44M63.7M57.89M120M35M44M46M
Total Assets+3.14B3.15B3.23B4.29B6.13B7.49B10.7B6.56B6.65B5.83B
Asset Turnover0.21x0.27x0.33x0.31x0.45x0.22x0.20x0.30x0.29x0.38x
Asset Growth %3.83%0%0.03%0.33%0.43%0.22%0.43%-0.39%0.01%-0.12%
Total Current Liabilities+80.42M97.24M118.39M287.5M920.52M908.64M3.88B270M971M831M
Accounts Payable3.36M4.26M3.59M7.47M8.34M18.97M11M20M28M30M
Days Payables Outstanding19.9121.715.3717.752.1327.1612.4319.8924.2820.78
Short-Term Debt000149.72M731.59M670.21M113M37M700M563M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities11.39M24.06M19.11M31.39M37.8M47.67M3.59B48M77M90M
Current Ratio7.14x5.98x7.11x6.58x3.81x5.46x1.98x13.34x3.24x2.81x
Quick Ratio7.14x5.98x7.11x6.02x2.90x4.92x0.97x13.34x3.24x2.81x
Cash Conversion Cycle---387.29220.03691.784.42K---
Total Non-Current Liabilities+376.23M518.85M451.31M736.44M1.78B1.84B1.47B1.81B1.16B150M
Long-Term Debt230M367.4M385.42M699.02M1.54B1.61B1.32B1.66B1B0
Capital Lease Obligations0000220.44M207.72M148M139M95M83M
Deferred Tax Liabilities132.48M136.15M44.56M17.47M12.19M14.86M0000
Other Non-Current Liabilities0000005M12M60M67M
Total Liabilities456.65M616.09M569.69M1.02B2.7B2.74B5.35B2.08B2.13B981M
Total Debt+230M367.4M385.42M848.74M2.51B2.52B1.6B1.87B1.83B660M
Net Debt862K123.81M33.32M197.68M1.37B816.63M-711M401M340M-422M
Debt / Equity0.09x0.15x0.14x0.26x0.73x0.53x0.30x0.42x0.40x0.14x
Debt / EBITDA-----10.20x4.09x21.46x-12.45x
Net Debt / EBITDA-----3.31x-1.81x4.61x--7.96x
Interest Coverage-27.24x-26.03x-5.88x-3.13x-2.42x1.04x1.87x-2.66x-7.50x-5.47x
Total Equity+2.68B2.53B2.66B3.27B3.44B4.74B5.34B4.48B4.53B4.85B
Equity Growth %3.55%-0.05%0.05%0.23%0.05%0.38%0.13%-0.16%0.01%0.07%
Book Value per Share15.7814.0614.2716.5116.6521.1821.3718.5119.3820.71
Total Shareholders' Equity2.68B2.53B2.66B3.27B3.44B4.74B5.34B4.48B4.53B4.85B
Common Stock18K18K20K21K21K24K0000
Retained Earnings-276.61M-497.04M-592.24M-671.78M-977.14M-1.14B-1.67B-1.61B-1.77B-1.88B
Treasury Stock0000000000
Accumulated OCI-471K-242K-1.1M-905K340K164K7M-15M-5M-3M
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+22.66M8.64M258.19M3.85M-612.17M424.2M-3.18B4.5B354M428M
Operating CF Margin %0.04%0.01%0.24%0%-0.22%0.26%-1.49%2.3%0.18%0.19%
Operating CF Growth %-0.5%-0.62%28.87%-0.99%-160.01%1.69%-8.49%2.42%-0.92%0.21%
Net Income-148.87M-220.44M-94.42M-119.86M-305.36M-162.12M-528M-101M-158M-112M
Depreciation & Amortization75.39M100.59M110.16M99.39M110.61M134.37M153M180M222M250M
Stock-Based Compensation105.21M106.92M113.57M149.08M198.9M197.55M312M451M451M448M
Deferred Taxes-2.85M-1.37M-89.59M-31.1M-4.26M-7.52M-2.75M0-20M0
Other Non-Cash Items32.56M31.87M212.56M139.81M91.02M219.01M642.75M83M24M17M
Working Capital Changes-38.77M-8.92M5.92M-233.48M-703.09M42.91M-3.75B3.89B-165M-175M
Change in Receivables-1.05M-13.32M-21.2M-12.56M-3.69M-5.58M-82M82M-24M-8M
Change in Inventory-20.11M-16.71M29.81M-162.83M-673.8M345.28M-3.83B3.9B-127M0
Change in Payables-11.16M856K-373K1.31M-496K12.97M5M3M6M2M
Cash from Investing+64.44M-65.72M-247.39M-622.64M-456.05M-1.04B1.09B-1.53B25M395M
Capital Expenditures-68.11M-71.72M-78.64M-78.53M-67.04M-108.52M-74M-115M-135M-143M
CapEx % of Revenue0.11%0.08%0.07%0.06%0.02%0.07%0.03%0.06%0.07%0.06%
Acquisitions----------
Investments----------
Other Investing3.93M1.96M-169.13M-501.45M-19.59M-23.58M-31M-25M-30M-28M
Cash from Financing+16.27M71.53M97.71M930.14M1.64B1.16B3.15B-4.34B-352M-1.23B
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing16.27M-6.02M97.71M88.59M-94.22M444.02M127M46M72M212M
Net Change in Cash----------
Free Cash Flow+-45.45M-63.08M179.56M-74.69M-698.81M315.68M-3.28B4.36B189M285M
FCF Margin %-0.07%-0.07%0.17%-0.06%-0.25%0.19%-1.54%2.23%0.1%0.13%
FCF Growth %-36.59%-0.39%3.85%-1.42%-8.36%1.45%-11.4%2.33%-0.96%0.51%
FCF per Share-0.27-0.350.96-0.38-3.391.41-13.1318.020.811.22
FCF Conversion (FCF/Net Income)-0.15x-0.04x-2.73x-0.03x2.00x-2.62x6.02x-44.59x-2.24x-3.82x
Interest Paid000042.16M0109M50M28M35M
Taxes Paid00000006M6M6M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-9.11%-8.46%-3.64%-4.04%-9.11%-3.96%-10.47%-2.06%-3.51%-2.39%
Return on Invested Capital (ROIC)-7.14%-5.42%-4.54%-3.14%-4.48%2.33%3.52%-1.47%-4.15%-3.18%
Gross Margin90.44%91.54%92.09%88.48%47.79%84.3%84.85%81.26%78.35%76.43%
Net Margin-23.09%-26.04%-8.77%-8.99%-11.13%-9.98%-24.77%-5.16%-8.12%-5.01%
Debt / Equity0.09x0.15x0.14x0.26x0.73x0.53x0.30x0.42x0.40x0.14x
Interest Coverage-27.24x-26.03x-5.88x-3.13x-2.42x1.04x1.87x-2.66x-7.50x-5.47x
FCF Conversion-0.15x-0.04x-2.73x-0.03x2.00x-2.62x6.02x-44.59x-2.24x-3.82x
Revenue Growth97.82%31.32%27.19%23.84%105.68%-40.79%31.28%-8.16%-0.66%14.96%

Revenue by Segment

2014201520162017201820192020202120222024
Sales Revenue---------1.74B
Sales Revenue Growth----------
Residential Revenue---------1.59B
Residential Revenue Growth----------
Rental Revenue---------453M
Rental Revenue Growth----------
Homes-----1.37B1.72B6.11B24M-
Homes Growth------25.65%256.01%-99.61%-
Internet, Media & Technology-----1.28B1.45B1.89B--
Internet, Media & Technology Growth------13.57%30.03%--
Mortgages-----100.69M174.21M245.82M--
Mortgages Growth------73.01%41.10%--
Other Real Estate----168.22M-----
Other Real Estate Growth----------
Mortgages Revenue28.2M44.26M71.13M80.59M80.05M-----
Mortgages Revenue Growth-56.94%60.71%13.30%-0.68%-----
Real Estate Revenue239.04M482.09M--------
Real Estate Revenue Growth-101.68%--------
Market Leader Revenue-29.55M--------
Market Leader Revenue Growth----------

Frequently Asked Questions

Growth & Financials

Zillow Group, Inc. Class C (Z) reported $2.48B in revenue for fiscal year 2024. This represents a 3659% increase from $66.1M in 2011.

Zillow Group, Inc. Class C (Z) grew revenue by 15.0% over the past year. This is steady growth.

Zillow Group, Inc. Class C (Z) reported a net loss of $32.0M for fiscal year 2024.

Dividend & Returns

Zillow Group, Inc. Class C (Z) has a return on equity (ROE) of -2.4%. Negative ROE indicates the company is unprofitable.

Zillow Group, Inc. Class C (Z) generated $264.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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