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Zillow Group, Inc. ZG Operating Income

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Segments

By segment

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Reportable Segments-$9M

Other financials

Income statement

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Revenue$708.0M+18.4%
Gross profit$519.0M+13.1%
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
Net margin2.3%+1.4pp
FCF margin12.4%-1.2pp

Returns & leverage

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Return on equity1.3%+0.9pp
Debt / equity-0.2×
Current ratio2.3×-0.2×

Where this comes from

Reported directly by Zillow Group, Inc. in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

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 operating income?
Zillow Group, Inc. (ZG) reported operating income of $36M in Q1 2026.
How has Zillow Group, Inc.'s operating income changed year-over-year?
Zillow Group, Inc.'s operating income increased by 500.0% year-over-year, from -$9M to $36M.
What is the long-term trend for Zillow Group, Inc.'s operating income?
Over 4 years (2021 to 2025), Zillow Group, Inc.'s operating income has grown at a -38.5% compound annual growth rate (CAGR), from $237M to -$34M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.