What is Zillow Group, Inc.'s net margin?

Zillow Group, Inc. (ZG) reported net margin of 2.3% in Q1 2026.

How has Zillow Group, Inc.'s net margin changed year-over-year?

Zillow Group, Inc.'s net margin increased by 164.5% year-over-year, from -3.5% to 2.3%.

What is the long-term trend for Zillow Group, Inc.'s net margin?

Over 4 years (2021 to 2025), Zillow Group, Inc.'s net margin has grown at a -50.3% compound annual growth rate (CAGR), from -14.6% to 0.9%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

Zillow Group, Inc. ZG Net margin

Net margin at other companies

CoStar GroupCSGP

0.7%-3.4pp

Rocket CompaniesRKT

-1.8%-2.4pp

Rithm CapitalRITM

14.4%-1.0pp

News CorporationNWS

12.9%+7.1pp

Invitation HomesINVH

20.9%+2.9pp

Equity ResidentialEQR

30.6%-2.5pp

Other financials

Income statement

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Revenue$708.0M+18.4%

Gross profit$519.0M+13.1%

Operating income$36.0M+500%

Net income$46.0M+475%

EPS (diluted)$0.19+533%

Balance sheet

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Cash & equivalents$683.0M-25.6%

Total debt$94.0M-91.5%

Total equity$4.4B-7.3%

Total assets$5.2B-9.0%

Cash flow

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Operating cash flow$200.0M+92.3%

CapEx$34.0M-5.6%

Free cash flow$166.0M+144%

Valuation

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Market cap$7.43B-38.8%

Enterprise value$6.84B-43.1%

P/E121.9×—

P/S2.8×-2.5×

Profitability

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Gross margin73.3%-3.1pp

Operating margin0.4%+0.2pp

FCF margin12.4%-1.2pp

Returns & leverage

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Return on equity1.3%+0.9pp

Debt / equity0×-0.2×

Current ratio2.3×-0.2×

Where this comes from

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

net income/total revenue=2.3%

Based on trailing twelve months.

The official record: Zillow Group, Inc.’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Zillow Group, Inc.'s net margin?: Zillow Group, Inc. (ZG) reported net margin of 2.3% in Q1 2026.
How has Zillow Group, Inc.'s net margin changed year-over-year?: Zillow Group, Inc.'s net margin increased by 164.5% year-over-year, from -3.5% to 2.3%.
What is the long-term trend for Zillow Group, Inc.'s net margin?: Over 4 years (2021 to 2025), Zillow Group, Inc.'s net margin has grown at a -50.3% compound annual growth rate (CAGR), from -14.6% to 0.9%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.