Zillow Group, Inc.
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Zillow Group, Inc.
Compare market positioning with top industry peers
Explore Zillow
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Financial Performance
Revenue
$2.6B
Market Cap
$16.9B
Net Income
$23M
Employees
6,600
Zillow reported $2.6B in revenue for fiscal year 2025, up 15.5% from 2024. Net income was $23M.
Zillow Group is executing an ambitious, critical business model reinvention to transform from a pure real estate advertising marketplace into a fully integrated, transaction-enabling super app for the entire US home buying and renting journey. Under CEO Jeremy Wacksman, the real estate platform reported revenue of $2.6 billion for fiscal year 2025. The financial narrative in 2026 is entirely defined by Enhanced Markets rollout and strategic mortgage integration; transcending its legacy listing portal identity, Zillow extracts increasingly lucrative transaction revenues by rapidly connecting its captive 230+ million monthly unique visitors to its touring, mortgage financing, and buyer's agent services through its differentiated ShowingTime+ and Zillow Home Loans ecosystem.
Revenue Trend Analysis
YoY Change
+15.5%
9-Year CAGR
+13.2%
Peak Year
2019
Trend
Mostly Growing
Zillow Group, Inc. has reported revenue across 10 fiscal years, compounding at +13.2% annually over 9 years. The most recent year saw a 15.5% increase versus the prior year. Revenue peaked in 2019 at $2.7B. Out of 9 reported periods, 6 showed growth and 3 showed a decline.
Click any row to see year details.
Zillow Group reported full-year FY2025 revenue of approximately $2.6 billion, demonstrating steady top-line expansion driven by strong growth in Rentals (up double digits), expanding Premier Agent Flex penetration, and rising purchase mortgage originations.
Zillow delivers adjusted EBITDA margins exceeding 20% to 25%, driven by high gross profit margins (above 80%) across its digital marketplace operations and disciplined corporate operating expense management.
Zillow maintains a fortress balance sheet with over $2.5 billion in cash, cash equivalents, and short-term investments, zero mortgage inventory debt, and an undrawn credit facility, providing comprehensive financial flexibility for product R&D and share buybacks.
Zillow generates substantial annual operating and free cash flow, aggressively returning capital to shareholders by repurchasing hundreds of millions of dollars of Class A and Class C common stock annually to offset equity dilution.
Winding down Zillow Offers eliminated billions in short-term revolving debt, removed volatile residential real estate inventory holding losses, and restored Zillow to an asset-light, high-return-on-invested-capital (ROIC) software marketplace.
The Rentals business generates over $400 million in annual revenue, serving as Zillow's fastest-growing segment as property managers expand digital advertising to fill multifamily apartment buildings across the nation.
Zillow's Premier Agent and Mortgage revenues are correlated with total US existing home sales. However, Zillow outpaces overall market transaction declines by growing consumer market share, increasing conversion rates, and expanding into non-cyclical rentals.
Primary financial risks include prolonged multi-year stagnation in US existing home sales caused by elevated 30-year mortgage rates, regulatory changes regarding real estate buyer-agent commissions, and competitive marketing spending from rival portals.
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CorpDigest. "Zillow Group, Inc. Revenue & Financials." CorpDigest, https://corpdigest.com/company/zillow/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Zillow Group, Inc. reported $2.6B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/zillow/financials" target="_blank" rel="noopener">CorpDigest — Zillow Group, Inc. financials</a></div>