Zillow Group, Inc. Class A

NASDAQ · Real Estate Services

$30.36

At close - Nov 6, 4:00 PM EST - USD

Market Cap$7.3B

P/E-60.5x

52W High$74.80

Volume799.37K

VCP Research Verdict2026Q3

Revenue Growth Persists as Margins and Earnings Quality Lag

Zillow's revenue has expanded from $572.0M in Q2 2024 to $724.0M in Q3 2026, with year-over-year growth running between 13% and 18%, suggesting durable top-line momentum.

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MARKET ACTION

ZG price & volume

Price trend, volume and key moving averages

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Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis

Fundamental Trajectory

Revenue growth of roughly 13-18% year over year is encouraging, but gross margin compression from 77.3% to 71.3% and a Q3 2026 operating margin of -22.2% suggest profitability has not yet followed top-line expansion.

Analyst Consensus+49.9% target

Hold(50 analysts)

24 Buy25 Hold1 Sell

The Bull Case

Upside Catalysts

Expanded share buyback program

Zillow Group increased its equity buyback authorization by US$1.25 billion, signaling strong financial health and management's confidence in long-term growth.

Strong revenue and earnings growth

Q1 2026 revenue grew 18% year over year to $708 million, with net income rising to $46 million, driven by AI integration gains.

Market leadership in real estate

As the most visited real estate app and website in the U.S., Zillow connects millions of consumers with innovative technology and trusted agents.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return

ZG-53.73%

S&P 500 (^GSPC)+7.63%

1-Year Return

ZG-56.46%

S&P 500 (^GSPC)+9.69%

3-Year Return

ZG-15.67%

S&P 500 (^GSPC)+65.08%

5-Year Return

ZG-55.50%

S&P 500 (^GSPC)+53.46%

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis

Trailing P/E

-60.5x

Forward P/E

13.7x

EV/EBITDA25th %ile

56.9x

FCF YieldCash Flow

4.4%

Valuation vs 5-Year History

Multiple Range

Metric

Current

5Y Median

Historical Range

Percentile

P/E

-60.5x

N/A

EV/EBITDA

56.9x

91.5x

25th· Low

Price/FCF

22.8x

70.1x

25th· Low

Current Multiple

5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection

Bear$19.89-34.5%

Base (Fair)$28.26-6.9%

Bull$30.35-0.0%

$19.89 Bear$28.26 Base$30.35 Bull

Current Market Price: $30.36

Trades at a 7.4% premium to Base DCF ($28.26)

Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend

Revenue FY25

$2.58B+15.5% YoY

Net income FY25

$23M+120.5% YoY

Free cash flow FY25

$235M-17.5% YoY

Operating margin FY25

-1.2%+7.6 pts YoY

ROIC (FY25)-0.5%

Avg ROIC 5Y-1.2%

ROE (TTM)-2.5%

Piotroski Score7 / 9

Financial Statements →

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History

EPS Beat Rate7/12 (58%)

Revenue Beat Rate10/12 (83%)

Quarter	EPS (Act vs Est)	Revenue (Act vs Est)
Q4 2026Latest Nov 4, 2026	$0.55-8.3% vs $0.60	$724M-3.9% vs $754M
Q3 2026 Aug 5, 2026	$0.52+18.2% vs $0.44	$772M+1.8% vs $758M
Q2 2026 May 6, 2026	$0.53+23.3% vs $0.43	$708M+0.4% vs $705M
Q1 2026 Feb 10, 2026	$0.39-7.1% vs $0.42	$654M+0.5% vs $651M

Historical baseline: 12 quarters analyzedGAAP / Adjusted

MARKET COVERAGE

Latest News

4 Stories

PRNewsWire·1d ago

Zillow Group to present at RBCCM Global Technology, Internet, Media & Telecommunications Conference

SEATTLE, Nov. 6, 2026 /PRNewswire/ -- Zillow Group, Inc. (Nasdaq: Z and ZG), which is transforming the way people buy, sell, rent and finance homes, today announced Zillow Group will present at this year's RBC Capital Markets Global Technology, Internet, Media & Telecommunications Conference in New York. Chief Operating Officer & Chief Financial Officer Jeremy Hofmann will participate in a fireside chat on Tuesday, Nov. 17, at 5:40 a.m.

Benzinga·2d ago

Zillow Posts Downbeat Q3 Results, Joins HubSpot, Snap And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

U.S. stock futures were mixed this morning, with the Dow futures gaining over 250 points on Thursday.

PRNewsWire·2d ago

Newly pending listings fell 17% in October, the biggest year over year drop since 2023

Completed existing home sales fell 9% annually, according to the Zillow October Market Report Zillow's preliminary measure of existing home sales fell 8.7% year over year in October. Newly pending listings — a leading indicator of next month's closed sales — fell 16.8% year over year, the biggest decrease since August 2023.

Seeking Alpha·3d ago

Zillow Group, Inc. (ZG) Q3 2026 Earnings Call Transcript

Filtered for Zillow Group, Inc. Class AMore Headlines

Compare before deciding

Benchmark ZG against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Zillow Group, Inc. Class A (ZG)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
ZGZillow Group, Inc. Class ACurrent	$30.36	$7.3B	-60.54	15.52%	-3.95%	-2.54%	—
OPENOpendoor Technologies Inc.	$1.40	$1.35B	-0.81	-15.18%	-49.06%	-190.36%	—
COMPCompass, Inc.	$10.21	$6.21B	66.00	23.67%	1.06%	5.47%	—
MOVECorvex, Inc.	$5.01	$12.56M	-0.45	-57.26%	-623.49%	-9.67%	—
CSGPCoStar Group, Inc.	$30.55	$12.38B	68.59	18.67%	4.87%	2.23%	—
OPADOfferpad Solutions Inc.	$2.11	$10.2M	-0.26	-38.2%	-11.34%	-106.24%	—

Compare ZG vs Peers

Zillow Group, Inc. Class A (ZG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs OPEN

Most directly comparable listed peer for ZG.

Scale Benchmark

vs HOOD

Larger-name benchmark to compare ZG against a more recognizable public peer.

Peer Set

Compare Top 5

vs OPEN, COMP, MOVE, CSGP

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

ZG SEC Filings & Documents

Zillow Group, Inc. Class A (ZG) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Nov 4, 2026·SEC

Material company update

Oct 28, 2026·SEC

Material company update

Aug 5, 2026·SEC

10-K Annual Reports

FY 2026

Feb 11, 2026·SEC

10-Q Quarterly Reports

FY 2026

Nov 4, 2026·SEC

FY 2026

Aug 5, 2026·SEC

FY 2026

May 6, 2026·SEC

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ZG Frequently Asked Questions

Zillow Group, Inc. Class A (ZG) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is Zillow Group, Inc. Class A's revenue?

Zillow Group, Inc. Class A (ZG) reported $2.86B in revenue over the trailing twelve months. Revenue was $2.58B in fiscal year 2025. That is 24268% more than the $10.6M of fiscal year 2008.

How fast is Zillow Group, Inc. Class A growing?

Zillow Group, Inc. Class A (ZG) grew revenue by 15.1% over the trailing twelve months, compared with the twelve months before.

Is ZG profitable?

No. Zillow Group, Inc. Class A (ZG) reported a net loss of $113.0M over the trailing twelve months.

Dividend & Returns

What is ZG's return on equity?

Zillow Group, Inc. Class A (ZG) had a return on equity (ROE) of -2.5% over the trailing twelve months. A negative ROE means the company lost money over the period.

What is Zillow Group, Inc. Class A's free cash flow?

Zillow Group, Inc. Class A (ZG) generated $320.0M in free cash flow over the trailing twelve months.

What if you invested $1,000 in ZG back in 2008?

Total return calculator · dividends reinvested · 18+ years of data

See returns →

Quarter

EPS (Act vs Est)

Revenue (Act vs Est)

Q4 2026Latest

Nov 4, 2026

$0.55-8.3%

vs $0.60

$724M-3.9%

vs $754M

Q3 2026

Aug 5, 2026

$0.52+18.2%

vs $0.44

$772M+1.8%

vs $758M

Q2 2026

May 6, 2026

$0.53+23.3%

vs $0.43

$708M+0.4%

vs $705M

Q1 2026

Feb 10, 2026

$0.39-7.1%

vs $0.42

$654M+0.5%

vs $651M

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

ZGZillow Group, Inc. Class ACurrent

$30.36

$7.3B

-60.54

15.52%

-3.95%

-2.54%

—

OPENOpendoor Technologies Inc.

$1.40

$1.35B

-0.81

-15.18%

-49.06%

-190.36%

—

COMPCompass, Inc.

$10.21

$6.21B

66.00

23.67%

1.06%

5.47%

—

MOVECorvex, Inc.

$5.01

$12.56M

-0.45

-57.26%

-623.49%

-9.67%

—

CSGPCoStar Group, Inc.

$30.55

$12.38B

68.59

18.67%

4.87%

2.23%

—

OPADOfferpad Solutions Inc.

$2.11

$10.2M

-0.26

-38.2%

-11.34%

-106.24%

—