Zillow Group, Inc. ZG Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 73.3%-0.8pp | 74.1%-0.7pp | 74.9%-0.9pp | 75.8%-0.7pp | 76.4%0.0pp | |
| Operating margin | 0.4%+1.7pp | -1.3%+2.4pp | -3.7%+1.9pp | -5.6%+1.4pp | -7%+1.8pp | |
| Net margin | 2.3%+1.4pp | 0.9%+2.2pp | -1.3%+1.3pp | -2.6%+0.9pp | -3.5%+1.5pp | |
| EBITDA margin | 10.2%+1.3pp | 8.9%+2.1pp | 6.8%+1.7pp | 5.2%+1.3pp | 3.8%+1.9pp | |
| Free cash flow margin | 12.4%+3.3pp | 9.1%-2.1pp | 11.2%-3.2pp | 14.4%+0.9pp | 13.5%+0.8pp | |
| Returns | ||||||
| Return on equity | 1.3%+0.9pp | 0.5%+1.1pp | -0.7%+0.7pp | -1.3%+0.4pp | -1.7%+0.7pp | |
| Return on assets | 1.1%+0.7pp | 0.4%+0.9pp | -0.5%+0.5pp | -1%+0.3pp | -1.3%+0.5pp | |
| Return on invested capital | 0.2%+0.9pp | -0.7%+1.3pp | -2%+0.6pp | -2.5%+0.5pp | -3%+0.8pp | |
| Efficiency | ||||||
| Asset turnover | 0.5×0.0× | 0.4×0.0× | 0.4×0.0× | 0.4×0.0× | 0.4×0.0× | |
| Liquidity | ||||||
| Current ratio | 2.3×-0.8× | 3.1×-0.5× | 3.6×+0.3× | 3.3×+0.9× | 2.5×-0.3× | |
| Quick ratio | 2.3×-0.8× | 3.1×-0.5× | 3.6×+0.3× | 3.3×+0.9× | 2.5×-0.3× | |
| Cash ratio | 0.9×-0.2× | 1.1×-0.4× | 1.5×+0.4× | 1.1×0.0× | 1×-0.3× | |
| Leverage | ||||||
| Debt-to-equity | 0×0.0× | 0×0.0× | 0×-0.1× | 0.1×-0.2× | 0.2×0.0× | |
| Debt-to-assets | 0×0.0× | 0×0.0× | 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 coverage | 0.6×+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 / earnings | 162.8×-555× | 718×— | —— | —— | —— | |
| Price / sales | 3.7×-2.7× | 6.4×-0.9× | 7.3×+0.3× | 6.9×-0.1× | 7×-0.5× | |
| Price / book | 2.3×-1.1× | 3.4×-0.2× | 3.6×+0.1× | 3.5×+0.1× | 3.4×-0.1× | |
| EV / EBITDA | 34×-34.9× | 68.8×-33.2× | 102.1×-30.6× | 132.7×-53.8× | 186.4×-206× | |
| EV / sales | 3.5×-2.7× | 6.1×-0.8× | 6.9×+0.1× | 6.8×-0.3× | 7.1×-0.4× | |
| Free cash flow yield | 3.4%+1.9pp | 1.4%-0.1pp | 1.5%-0.5pp | 2.1%+0.2pp | 1.9%+0.2pp | |
| Earnings yield | 0.6%+0.5pp | 0.1%+0.3pp | -0.2%+0.2pp | -0.4%+0.1pp | -0.5%+0.2pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →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.
