Cash flow Zillow Group, Inc.

Equities

ZG

US98954M1018

Real Estate Services

Market Closed - Nasdaq Other stock markets 04:00:00 2026-02-18 pm EST			5-day change	1st Jan Change
44.92 ^USD	+2.11%		-0.40%	-34.16%

Feb. 12	Zillow Group Seen Outperforming Even as AI Concerns Weigh on Sentiment, RBC Says	MT
Feb. 12	Earnings or Else

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Published financial data: ZILLOW GROUP, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	8.15B	1.96B	1.94B	2.24B	2.53B
Other Revenues, Total	-	-	-	-	50M
Total Revenues	8.15B	1.96B	1.94B	2.24B	2.58B
Cost of Goods Sold, Total	6.39B	367M	421M	527M	668M
Gross Profit	1.76B	1.59B	1.52B	1.71B	1.92B
Selling General & Admin Expenses, Total	1.53B	1.16B	1.21B	1.31B	1.34B
R&D Expenses	474M	498M	560M	585M	607M
Other Operating Expenses, Total	2B	1.66B	1.77B	1.9B	1.95B
Operating Income	-241M	-69M	-247M	-190M	-32M
Interest Expense, Total	-192M	-35M	-36M	-36M	-18M
Interest And Investment Income	10.19M	-	-	-	-
Net Interest Expenses	-182M	-35M	-36M	-36M	-18M
Other Non Operating Income (Expenses)	-	43M	151M	127M	77M
EBT, Excl. Unusual Items	-423M	-61M	-132M	-99M	27M
Restructuring Charges	-77.07M	-24M	-3M	-	-
Merger & Related Restructuring Charges	-9.3M	-	-4M	-1M	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-	-16M	-6M	-2M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-17.12M	-	1M	-1M	-
EBT, Incl. Unusual Items	-527M	-85M	-154M	-107M	25M
Income Tax Expense	1.26M	3M	4M	5M	2M
Earnings From Continuing Operations	-528M	-88M	-158M	-112M	23M
Earnings Of Discontinued Operations	-	-13M	-	-	-
Net Income to Company	-528M	-101M	-158M	-112M	23M
Net Income - (IS)	-528M	-101M	-158M	-112M	23M
Net Income to Common Incl Extra Items	-528M	-101M	-158M	-112M	23M
Net Income to Common Excl. Extra Items	-528M	-88M	-158M	-112M	23M
Per Share Items
Net EPS - Basic	-2.11	-0.42	-0.68	-0.48	0.1
Basic EPS - Continuing Operations	-2.11	-0.36	-0.68	-0.48	0.1
Basic Weighted Average Shares Outstanding	250M	242M	234M	234M	242M
Net EPS - Diluted	-2.11	-0.42	-0.68	-0.48	0.09
Diluted EPS - Continuing Operations	-2.11	-0.36	-0.68	-0.48	0.09
Diluted Weighted Average Shares Outstanding	250M	242M	234M	234M	254M
Normalized Basic EPS	-1.06	-0.16	-0.35	-0.26	0.07
Normalized Diluted EPS	-1.06	-0.16	-0.35	-0.26	0.07
Supplemental Items
EBITDA	-148M	21M	-170M	-98M	69M
EBITA	-180M	-11M	-194M	-113M	57M
EBIT	-241M	-69M	-247M	-190M	-32M
EBITDAR	-97.09M	75M	-127M	-69M	88M
Total Revenues (As Reported)	8.15B	-	-	-	2.58B
Effective Tax Rate - (Ratio)	-0.24	-3.53	-2.6	-4.67	8
Current Domestic Taxes	3.85M	2M	4M	3M	-1M
Current Foreign Taxes	143K	1M	-	1M	1M
Total Current Taxes	3.99M	3M	4M	4M	0
Deferred Domestic Taxes	-2.88M	-	-	1M	2M
Deferred Foreign Taxes	148K	-	-	-	-
Total Deferred Taxes	-2.73M	-	-	1M	2M
Normalized Net Income	-264M	-38.12M	-82.5M	-61.88M	16.88M
Interest on Long-Term Debt	139M	32M	33M	26M	-
Supplemental Operating Expense Items
Advertising Expense	210M	144M	137M	175M	-
Marketing Expenses	-	-	-	-	191M
Selling and Marketing Expenses	1.08B	664M	658M	790M	843M
General and Administrative Expenses	397M	444M	510M	524M	471M
Research And Development Expense From Footnotes	511M	565M	670M	733M	770M
Net Rental Expense, Total	51.33M	54M	43M	29M	19M
Imputed Operating Lease Interest Expense	20.93M	8.71M	6.7M	6.7M	4.9M
Imputed Operating Lease Depreciation	30.4M	45.29M	36.3M	22.3M	14.1M
Stock-Based Comp., COGS (Total)	10.97M	16M	16M	14M	11M
Stock-Based Comp., R&D Exp. (Total)	118M	165M	166M	165M	160M
Stock-Based Comp., S&M Exp. (Total)	48.13M	63M	70M	77M	72M
Stock-Based Comp., G&A Exp. (Total)	135M	189M	199M	192M	147M
Stock-Based Comp., Other (Total)	5.51M	2M	-	-	-
Total Stock-Based Compensation	317M	435M	451M	448M	390M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	2.61B	1.47B	1.49B	1.08B	768M
Short Term Investments	514M	1.9B	1.32B	776M	527M
Trading Asset Securities, Total	-	-	3M	4M	8M
Total Cash And Short Term Investments	3.13B	3.36B	2.81B	1.86B	1.3B
Accounts Receivable, Total	233M	72M	96M	104M	149M
Total Receivables	233M	72M	96M	104M	149M
Inventory	3.91B	-	-	-	-
Prepaid Expenses	75.44M	125M	137M	205M	279M
Loans Held For Sale	107M	41M	100M	159M	386M
Restricted Cash	227M	2M	3M	3M	5M
Other Current Assets, Total	212K	1M	-	1M	-
Total Current Assets	7.68B	3.6B	3.15B	2.33B	2.12B
Gross Property Plant And Equipment	464M	556M	612M	702M	710M
Accumulated Depreciation	-119M	-159M	-211M	-283M	-304M
Net Property Plant And Equipment	344M	397M	401M	419M	406M
Long-term Investments	75.1M	-	-	-	-
Goodwill	2.37B	2.37B	2.82B	2.82B	2.82B
Other Intangibles, Total	180M	154M	241M	207M	279M
Deferred Charges Long-Term	35.46M	23M	23M	25M	27M
Other Long-Term Assets, Total	6.56M	12M	21M	21M	28M
Total Assets	10.7B	6.56B	6.65B	5.83B	5.68B
Liabilities
Accounts Payable, Total	17.23M	20M	28M	30M	36M
Accrued Expenses, Total	234M	117M	117M	129M	162M
Short-term Borrowings	3.52B	37M	93M	145M	364M
Current Portion of Long-Term Debt	-	-	607M	418M	-
Current Portion of Leases	23.5M	31M	37M	14M	14M
Current Income Taxes Payable	17.84M	-	-	-	-
Unearned Revenue Current, Total	51.48M	44M	52M	62M	69M
Other Current Liabilities	18.23M	21M	37M	33M	34M
Total Current Liabilities	3.88B	270M	971M	831M	679M
Long-Term Debt	1.32B	1.66B	1B	-	-
Long-Term Leases	148M	139M	95M	83M	79M
Deferred Tax Liability Non Current	947K	-	-	-	-
Other Non Current Liabilities	3.56M	12M	60M	67M	43M
Total Liabilities	5.35B	2.08B	2.13B	981M	801M
Common Stock, Total	25K	-	-	-	-
Additional Paid In Capital	7B	6.11B	6.3B	6.73B	6.74B
Retained Earnings	-1.67B	-1.61B	-1.77B	-1.88B	-1.86B
Comprehensive Income and Other	7.23M	-15M	-5M	-3M	2M
Total Common Equity	5.34B	4.48B	4.53B	4.85B	4.88B
Total Equity	5.34B	4.48B	4.53B	4.85B	4.88B
Total Liabilities And Equity	10.7B	6.56B	6.65B	5.83B	5.68B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	251M	234M	233M	243M	240M
ECS Total Common Shares Outstanding	251M	234M	233M	242M	240M
Book Value / Share	21.31	19.13	19.4	19.99	20.31
Tangible Book Value	2.79B	1.95B	1.47B	1.82B	1.78B
Tangible Book Value Per Share	11.12	8.34	6.29	7.5	7.41
Total Debt	5.01B	1.87B	1.83B	660M	457M
Net Debt	1.89B	-1.5B	-981M	-1.2B	-846M
Debt Equivalent Oper. Leases	411M	432M	344M	232M	152M
Account Code - Inventory Valuation	8	3	3	3	3
Inventories - Work In Process, Total	1.19B	-	-	-	-
Inventories - Finished Goods, Total	2.73B	-	-	-	-
Machinery, Total	44.27M	42M	39M	34M	26M
Full Time Employees	8K	5.72K	6.26K	6.86K	7.07K
Accumulated Allowance for Doubtful Accounts (Supple)	3.76M	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-528M	-101M	-158M	-112M	23M
Depreciation & Amortization - CF	54.28M	55M	59M	25M	20M
Amortization of Goodwill and Intangible Assets - (CF)	61.3M	58M	53M	77M	89M
Depreciation & Amortization, Total	116M	113M	112M	102M	109M
Amortization of Deferred Charges, Total - (CF)	183M	123M	136M	171M	184M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-35M	-27M	-9M
Asset Writedown & Restructuring Costs	56.83M	-	16M	6M	2M
Stock-Based Compensation (CF)	312M	451M	451M	448M	390M
Provision and Write-off of Bad Debts	-	-	-	-	-
Other Operating Activities, Total	438M	27M	-3M	15M	6M
Change In Accounts Receivable	-82.31M	82M	-24M	-8M	-45M
Change In Inventories	-3.83B	3.9B	-	-	-
Change In Accounts Payable	4.7M	3M	6M	2M	6M
Change in Unearned Revenues	789K	-7M	1M	8M	7M
Change in Other Net Operating Assets	150M	-91M	-148M	-177M	-305M
Cash from Operations	-3.18B	4.5B	354M	428M	368M
Capital Expenditure	-73.3M	-115M	-135M	-143M	-133M
Cash Acquisitions	-497M	-4M	-433M	-7M	-
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-31.09M	-25M	-30M	-28M	-134M
Investment in Marketable and Equity Securities, Total	1.69B	-1.39B	623M	573M	261M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	1.09B	-1.53B	25M	395M	-6M
Short Term Debt Issued, Total	3.62B	-	56M	52M	219M
Long-Term Debt Issued, Total	1.14B	-	-	-	-
Total Debt Issued	4.76B	-	56M	52M	219M
Short Term Debt Repaid, Total	-1.98B	-2.28B	-	-	-
Long-Term Debt Repaid, Total	-1.3M	-1.16B	-56M	-1.2B	-419M
Total Debt Repaid	-1.98B	-3.44B	-56M	-1.2B	-419M
Issuance of Common Stock	672M	46M	72M	212M	188M
Repurchase of Common Stock	-302M	-947M	-424M	-301M	-670M
Other Financing Activities, Total	-	-	-	-	8M
Cash from Financing	3.15B	-4.34B	-352M	-1.23B	-674M
Net Change in Cash	1.06B	-1.37B	27M	-410M	-312M
Supplemental Items
Cash Interest Paid	109M	50M	28M	35M	18M
Cash Income Tax Paid (Refund)	-	6M	6M	6M	3M
Levered Free Cash Flow	-3.14B	1.53B	294M	293M	84.75M
Unlevered Free Cash Flow	-3.13B	1.53B	312M	311M	96M
Change In Net Working Capital	3.38B	-1.07B	63M	116M	300M
Net Debt Issued / Repaid	2.78B	-3.44B	0	-1.14B	-200M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-1.66	-0.5	-2.34	-1.9	-0.35
Return on Total Capital	-1.71	-0.65	-2.43	-2	-0.37
Return On Equity %	-10.47	-1.79	-3.51	-2.39	0.47
Return on Common Equity	-10.47	-1.79	-3.51	-2.39	0.47
Margin Analysis
Gross Profit Margin %	21.58	81.26	78.35	76.43	74.14
SG&A Margin	18.72	59.35	62.26	58.77	51.88
EBITDA Margin %	-1.82	1.07	-8.74	-4.38	2.67
EBITA Margin %	-2.21	-0.56	-9.97	-5.05	2.21
EBIT Margin %	-2.96	-3.52	-12.7	-8.5	-1.24
Income From Continuing Operations Margin %	-6.48	-4.49	-8.12	-5.01	0.89
Net Income Margin %	-6.48	-5.16	-8.12	-5.01	0.89
Net Avail. For Common Margin %	-6.48	-4.49	-8.12	-5.01	0.89
Normalized Net Income Margin	-3.25	-1.95	-4.24	-2.77	0.65
Levered Free Cash Flow Margin	-38.56	78.29	15.12	13.09	3.28
Unlevered Free Cash Flow Margin	-38.37	78.08	16.02	13.92	3.72
Asset Turnover
Asset Turnover	0.9	0.23	0.29	0.36	0.45
Fixed Assets Turnover	22.36	5.28	4.87	5.45	6.26
Receivables Turnover (Average Receivables)	50.36	26.28	23.15	22.36	20.02
Inventory Turnover (Average Inventory)	2.9	-	-	-	-
Short Term Liquidity
Current Ratio	1.98	13.34	3.24	2.81	3.13
Quick Ratio	0.86	12.72	3	2.37	2.14
Operating Cash Flow to Current Liabilities	-0.82	16.68	0.36	0.52	0.54
Days Sales Outstanding (Average Receivables)	7.25	13.89	15.76	16.37	18.23
Days Outstanding Inventory (Average Inventory)	125.79	-	-	-	-
Average Days Payable Outstanding	0.67	15.42	20.81	20.14	18.03
Cash Conversion Cycle (Average Days)	132.37	-	-	-	-
Long Term Solvency
Total Debt/Equity	93.82	41.66	40.48	13.61	9.36
Total Debt / Total Capital	48.4	29.41	28.81	11.98	8.56
LT Debt/Equity	27.47	40.14	24.19	1.71	1.62
Long-Term Debt / Total Capital	14.17	28.34	17.22	1.51	1.48
Total Liabilities / Total Assets	50.06	31.71	31.96	16.83	14.09
EBIT / Interest Expense	-1.26	-1.97	-6.86	-5.28	-1.78
EBITDA / Interest Expense	-0.51	2.14	-3.53	-1.92	4.89
(EBITDA - Capex) / Interest Expense	-0.89	-1.14	-7.28	-5.89	-2.5
Total Debt / EBITDA	-51.61	24.89	-14.43	-9.57	5.19
Net Debt / EBITDA	-19.42	-19.93	7.72	17.42	-9.61
Total Debt / (EBITDA - Capex)	-29.41	-46.68	-6.99	-3.11	-10.16
Net Debt / (EBITDA - Capex)	-11.07	37.38	3.74	5.67	18.8
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	143.95	-8.16	-0.66	14.96	15.52
Gross Profit, 1 Yr. Growth %	19.32	-12.05	-4.21	12.14	12.05
EBITDA, 1 Yr. Growth %	-217.66	-94.05	-909.52	-42.35	-170.41
EBITA, 1 Yr. Growth %	-296.92	-103.49	1.66K	-41.75	-150.44
EBIT, 1 Yr. Growth %	-689.81	-126.64	257.97	-23.08	-83.16
Earnings From Cont. Operations, 1 Yr. Growth %	225.56	-186.27	79.55	-29.11	-120.54
Net Income, 1 Yr. Growth %	225.56	-80.87	56.44	-29.11	-120.54
Normalized Net Income, 1 Yr. Growth %	349.62	-144.2	116.39	-25	-127.27
Diluted EPS Before Extra, 1 Yr. Growth %	191.57	-193.18	87.13	-29.27	-118.75
Accounts Receivable, 1 Yr. Growth %	156.6	-6.49	33.33	8.33	43.27
Inventory, 1 Yr. Growth %	696.4	-	-	-	-
Net Property, Plant and Equip., 1 Yr. Growth %	-10.32	15.07	1.01	4.49	-3.1
Total Assets, 1 Yr. Growth %	42.86	-38.63	1.36	-12.37	-2.47
Tangible Book Value, 1 Yr. Growth %	4.71	-29.99	-24.87	23.84	-1.98
Common Equity, 1 Yr. Growth %	12.64	-16.08	0.98	7.11	0.74
Cash From Operations, 1 Yr. Growth %	-848.87	-241.77	-92.14	20.9	-14.02
Capital Expenditures, 1 Yr. Growth %	-13.7	55.41	17.39	5.93	-6.99
Levered Free Cash Flow, 1 Yr. Growth %	-940.31	446.73	-80.81	-0.47	-71.05
Unlevered Free Cash Flow, 1 Yr. Growth %	-948.38	496.3	-79.62	-0.12	-69.16
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	72.35	9.8	-4.49	6.86	15.24
Gross Profit, 2 Yr. CAGR %	21.1	7.8	-8.21	3.64	12.1
EBITDA, 2 Yr. CAGR %	-8.26	-72.21	-30.6	116.02	-36.29
EBITA, 2 Yr. CAGR %	-5.59	-78.36	-21.52	220.51	-45.8
EBIT, 2 Yr. CAGR %	-1.13	-39.09	-2.34	65.94	-64.01
Earnings From Cont. Operations, 2 Yr. CAGR %	31.47	319.52	24.46	12.82	-61.85
Net Income, 2 Yr. CAGR %	31.47	-21.04	-45.3	5.3	-61.85
Normalized Net Income, 2 Yr. CAGR %	17.01	-8.59	-2.2	27.4	-54.77
Diluted EPS Before Extra, 2 Yr. CAGR %	19.45	326.26	32.04	14.75	-63.62
Accounts Receivable, 2 Yr. CAGR %	86.41	-10.92	11.66	20.18	24.58
Inventory, 2 Yr. CAGR %	116.26	-	-	-	-
Net Property, Plant and Equip., 2 Yr. CAGR %	-5.12	1.66	7.81	2.73	0.62
Total Assets, 2 Yr. CAGR %	32.07	-6.37	-21.13	-5.76	-7.55
Tangible Book Value, 2 Yr. CAGR %	48.74	-14.33	-27.48	-3.54	10.18
Common Equity, 2 Yr. CAGR %	24.69	-2.78	-7.95	4	3.88
Cash From Operations, 2 Yr. CAGR %	127.8	226.31	-66.62	-69.17	1.96
Capital Expenditures, 2 Yr. CAGR %	4.57	16.32	35.07	11.51	-0.74
Levered Free Cash Flow, 2 Yr. CAGR %	124.36	84.97	2.42	-56.3	-46.32
Unlevered Free Cash Flow, 2 Yr. CAGR %	125.9	88.06	10.25	-54.88	-44.5
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	82.81	-10.63	6.2	1.6	9.67
Gross Profit, 3 Yr. CAGR %	14.22	9.9	3.64	-1.88	6.37
EBITDA, 3 Yr. CAGR %	80.68	-50.8	-14.5	-34.76	48.67
EBITA, 3 Yr. CAGR %	226.49	-62.09	-6.19	-28.95	73.05
EBIT, 3 Yr. CAGR %	74.23	-34.61	9.92	-9.81	-22.6
Earnings From Cont. Operations, 3 Yr. CAGR %	63.91	-33.95	216.15	3.17	-36.06
Net Income, 3 Yr. CAGR %	63.91	-30.84	-0.83	-40.36	-38.93
Normalized Net Income, 3 Yr. CAGR %	84.27	-41.77	21.83	-10.48	-23.79
Diluted EPS Before Extra, 3 Yr. CAGR %	51.65	-37.38	223.96	7.05	-37.2
Accounts Receivable, 3 Yr. CAGR %	52.17	2.43	1.9	10.54	27.43
Inventory, 3 Yr. CAGR %	188.57	-	-	-	-
Net Property, Plant and Equip., 3 Yr. CAGR %	36.59	1.24	1.44	6.69	0.75
Total Assets, 3 Yr. CAGR %	35.58	2.29	-3.86	-18.32	-4.67
Tangible Book Value, 3 Yr. CAGR %	37.75	15.75	-18	-13.31	-3.02
Common Equity, 3 Yr. CAGR %	17.8	9.27	-1.54	-3.18	2.9
Cash From Operations, 3 Yr. CAGR %	837.93	94.49	-5.76	-48.74	-56.61
Capital Expenditures, 3 Yr. CAGR %	3.53	19.71	16.67	24.56	4.97
Levered Free Cash Flow, 3 Yr. CAGR %	271.92	34.92	-13.09	1.45	-61.91
Unlevered Free Cash Flow, 3 Yr. CAGR %	269.53	35.64	-10.34	6.68	-60.25
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	57.28	12.7	7.84	-4	9.73
Gross Profit, 5 Yr. CAGR %	17.73	9.92	5.25	7.35	6.94
EBITDA, 5 Yr. CAGR %	40.92	-23.99	46.53	-11.09	-23.99
EBITA, 5 Yr. CAGR %	68.84	-30.3	106.46	-10.96	-24.67
EBIT, 5 Yr. CAGR %	48.09	40.53	40.18	-5.1	-29.67
Earnings From Cont. Operations, 5 Yr. CAGR %	19.08	-1.4	5.68	-18.18	35.69
Net Income, 5 Yr. CAGR %	19.08	1.36	5.68	-18.18	-32.32
Normalized Net Income, 5 Yr. CAGR %	61.44	44.92	14.32	-20.36	-18.04
Diluted EPS Before Extra, 5 Yr. CAGR %	11.53	-6.42	2.35	-20.22	35.1
Accounts Receivable, 5 Yr. CAGR %	41.86	5.77	7.75	9.19	10.43
Net Property, Plant and Equip., 5 Yr. CAGR %	28.51	28.74	24.29	1.83	1.11
Total Assets, 5 Yr. CAGR %	27.7	15.23	9.16	-1.01	-5.36
Tangible Book Value, 5 Yr. CAGR %	102.12	36.65	6.6	7.61	-7.71
Common Equity, 5 Yr. CAGR %	16.09	10.99	6.74	7.13	0.59
Cash From Operations, 5 Yr. CAGR %	225.87	77.15	147.01	-6.91	-2.75
Capital Expenditures, 5 Yr. CAGR %	3.39	11.5	15.37	16.36	9.37
Levered Free Cash Flow, 5 Yr. CAGR %	96.91	55.01	36.94	-14.05	-28.33
Unlevered Free Cash Flow, 5 Yr. CAGR %	95.35	55.08	38.14	-12.67	-25.99