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Other financials

Income statement

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Revenue$772.0M+17.9%
Operating income-$10.0M+9.1%
Net income-$4.0M-300%
EPS (diluted)-$0.02-300%

Balance sheet

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Cash & equivalents$578.0M-2.4%
Total debt$93.0M-71.6%
Total equity$4.3B-9.2%
Total assets$5.3B-2.0%

Cash flow

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Operating cash flow$11.0M-87.4%
CapEx$36.0M-2.7%
Free cash flow$166.0M+144%

Valuation

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Market cap$8.44B-57.1%
Enterprise value$7.96B-59.0%
P/E153.5×
P/S-5.2×

Profitability

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Gross margin72.9%-2.9pp
Operating margin0.4%+0.2pp
Net margin2%+1.2pp
FCF margin12.4%-1.2pp

Returns & leverage

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Return on equity1.2%+0.8pp
Debt / equity0.0×
Current ratio1.9×-1.4×

Where this comes from

Calculated from Zillow Group, Inc.’s reported figures.

The source filing: Zillow Group, Inc.’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:36 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001617640-26-000052
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Other14142525
Total revenue7726551,4801,253
Cost of revenue210166399305
Gross profit5624891,081948
Operating expenses:
Sales and marketing249226459424
Technology and development156153306302
General and administrative131121254242

Item 1. Financial Statements (unaudited)

FAQ

What is Zillow Group, Inc.'s gross profit?
Zillow Group, Inc. (ZG) reported gross profit of $562M in Q2 2026.
How has Zillow Group, Inc.'s gross profit changed year-over-year?
Zillow Group, Inc.'s gross profit increased by 14.9% year-over-year, from $489M to $562M.
What is the long-term trend for Zillow Group, Inc.'s gross profit?
Over 4 years (2021 to 2025), Zillow Group, Inc.'s gross profit has grown at a -0.5% compound annual growth rate (CAGR), from $1.95B to $1.92B.
What does gross profit mean?
Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.

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