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Zillow Group, Inc. ZG Ratios & Valuation

Q1 '26Q4 '25Q3 '25Q2 '25Q1 '25
Profitability
Gross margin73.3%-0.8pp74.1%-0.7pp74.9%-0.9pp75.8%-0.7pp76.4%0.0pp
Operating margin0.4%+1.7pp-1.3%+2.4pp-3.7%+1.9pp-5.6%+1.4pp-7%+1.8pp
Net margin2.3%+1.4pp0.9%+2.2pp-1.3%+1.3pp-2.6%+0.9pp-3.5%+1.5pp
EBITDA margin10.2%+1.3pp8.9%+2.1pp6.8%+1.7pp5.2%+1.3pp3.8%+1.9pp
Free cash flow margin12.4%+3.3pp9.1%-2.1pp11.2%-3.2pp14.4%+0.9pp13.5%+0.8pp
Returns
Return on equity1.3%+0.9pp0.5%+1.1pp-0.7%+0.7pp-1.3%+0.4pp-1.7%+0.7pp
Return on assets1.1%+0.7pp0.4%+0.9pp-0.5%+0.5pp-1%+0.3pp-1.3%+0.5pp
Return on invested capital0.2%+0.9pp-0.7%+1.3pp-2%+0.6pp-2.5%+0.5pp-3%+0.8pp
Efficiency
Asset turnover0.5×0.0×0.4×0.0×0.4×0.0×0.4×0.0×0.4×0.0×
Liquidity
Current ratio2.3×-0.8×3.1×-0.5×3.6×+0.3×3.3×+0.9×2.5×-0.3×
Quick ratio2.3×-0.8×3.1×-0.5×3.6×+0.3×3.3×+0.9×2.5×-0.3×
Cash ratio0.9×-0.2×1.1×-0.4×1.5×+0.4×1.1×0.0×-0.3×
Leverage
Debt-to-equity0.0×0.0×-0.1×0.1×-0.2×0.2×0.0×
Debt-to-assets0.0×0.0×0.0×0.1×-0.1×0.2×0.0×
Net debt / EBITDA-2.1×+0.8×-3×+1.7×-4.6×-2.5×-2.1×-4.3×2.1×+2.3×
Interest coverage0.6×+2.5×-1.9×+2.5×-4.4×+0.6×-5×+0.1×-5×+0.4×
Per Share
Book value per share$18.39-4.3%$19.22-1.3%$19.48+3.3%$18.86+1.6%$18.56-10.4%
Valuation
Market capitalization$9.93B-39.9%$16.52B-8.4%$18.03B+8.8%$16.58B+2.2%$16.22B-3.9%
Enterprise value$9.34B-41.0%$15.84B-8.2%$17.25B+5.7%$16.32B-0.5%$16.41B-2.7%
Price / earnings162.8×-555×718×
Price / sales3.7×-2.7×6.4×-0.9×7.3×+0.3×6.9×-0.1×-0.5×
Price / book2.3×-1.1×3.4×-0.2×3.6×+0.1×3.5×+0.1×3.4×-0.1×
EV / EBITDA34×-34.9×68.8×-33.2×102.1×-30.6×132.7×-53.8×186.4×-206×
EV / sales3.5×-2.7×6.1×-0.8×6.9×+0.1×6.8×-0.3×7.1×-0.4×
Free cash flow yield3.4%+1.9pp1.4%-0.1pp1.5%-0.5pp2.1%+0.2pp1.9%+0.2pp
Earnings yield0.6%+0.5pp0.1%+0.3pp-0.2%+0.2pp-0.4%+0.1pp-0.5%+0.2pp

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Questions, answered.

What are Zillow Group, Inc.'s profit margins?
Zillow Group, Inc. (ZG) runs a 73.3% gross margin and a 0.4% operating margin, with a 2.3% net margin.
Where do Zillow Group, Inc.'s ratios come from?
Every ratio is computed from Zillow Group, Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.