Zillow Group, Inc. Class C (Z) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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Z Revenue Growth
Revenue Breakdown (FY 2025)
Z's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
Z Revenue Analysis (2014–2025)
As of May 6, 2026, Zillow Group, Inc. Class C (Z) generated trailing twelve-month (TTM) revenue of $2.48 billion, reflecting strong growth of +16.4% year-over-year. The most recent quarter (Q3 2025) recorded $676.0 million in revenue, up 3.2% sequentially.
Looking at the longer-term picture, Z's 5-year compound annual growth rate (CAGR) stands at +9.7%, indicating steady revenue expansion. The company achieved its highest annual revenue of $2.74 billion in 2019.
Revenue diversification analysis shows Z's business is primarily driven by Sales Revenue (45%), Residential Revenue (40%), and Rental Revenue (15%).
When compared to Communication Services sector peers including OPEN (-15.2% YoY), HOUS (+5.3% YoY), and EXPI (+4.5% YoY), Z has underperformed the peer group in terms of revenue growth. Compare Z vs OPEN →
Z Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ZCurrent | $2.5B | +16.4% | +9.7% | -1.3% | |
 OPEN | $4.4B | -15.2% | +11.1% | -6.6% | |
 HOUS | $5.7B | +5.3% | -0.6% | 1.1% | |
 EXPI | $4.8B | +4.5% | +21.6% | -0.4% | |
 COMP | $7.0B | +40.1% | +13.3% | -0.4% | |
 MOVE | $1M | -44.6% | - | -2391.1% |
Z Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.58B | +15.5% | $1.92B | 74.1% | $-34,000,000 | -1.3% |
| 2024 | $2.24B | +15.0% | $1.71B | 76.4% | $-197,000,000 | -8.8% |
| 2023 | $1.95B | -0.7% | $1.52B | 78.4% | $-270,000,000 | -13.9% |
| 2022 | $1.96B | -8.2% | $1.59B | 81.3% | $-93,000,000 | -4.7% |
| 2021 | $2.13B | +31.3% | $1.81B | 84.8% | $239.0M | 11.2% |
| 2020 | $1.62B | -40.8% | $1.37B | 84.3% | $161.0M | 9.9% |
| 2019 | $2.74B | +105.7% | $1.31B | 47.8% | $-246,835,000 | -9.0% |
| 2018 | $1.33B | +23.8% | $1.18B | 88.5% | $-128,975,000 | -9.7% |
| 2017 | $1.08B | +27.2% | $991.6M | 92.1% | $-161,874,000 | -15.0% |
| 2016 | $846.6M | +31.3% | $775.0M | 91.5% | $-192,854,000 | -22.8% |
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Start ComparisonZ — Frequently Asked Questions
Quick answers to the most common questions about buying Z stock.
Is Z's revenue growth accelerating or slowing?
Z revenue is accelerating at +16.4% year-over-year, exceeding the 5-year CAGR of +9.7%. TTM revenue reached $2.5B. Growth momentum has increased versus prior periods.
What is Z's long-term revenue growth rate?
Zillow Group, Inc. Class C's 5-year revenue CAGR of +9.7% reflects the sustained expansion pattern. Current YoY growth of +16.4% is above this long-term average.
How is Z's revenue distributed by segment?
Z reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.