📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

Zillow Group, Inc. operates a real estate application and website that connects consumers with technology, agents and loan officers, and digital solutions in the United States.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding ZG

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Manager	Shares	Value	% of Fund	Period
Tiger Global Management Tiger Global Management LLC	7.37M	$304.9M	1.33%	Mar 2026
Tiger Global Management Tiger Global Management LLC	1.02M	$42.4M	0.19%	Mar 2026
Steve Cohen Point72 Asset Management	320.8K	$13.3M	0.02%	Mar 2026
Jim Simons Renaissance Technologies LLC	220.8K	$9.1M	0.01%	Mar 2026
Cathie Wood ARK Investment Management	166.7K	$6.9M	0.05%	Mar 2026
Steve Cohen Point72 Asset Management	123.5K	$5.1M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly used phrases like 'strong Q2 results', 'exceeding expectations', 'on track', and 'confident in our ability' and provided specific figures (revenue up 15%, EBITDA $155M, rentals acceleration) without hedging.

Q3 2025

Confident Specific

Management uses phrases like 'excellent quarter', 'strong revenue growth', 'exceeded the high end of our outlook range', and 'on track' to describe performance, with specific metrics (16% revenue growth, 200 bps margin expansion, 41% rentals growth) and forward guidance.

Q4 2025

Confident Specific

Management used language like 'strong execution', 'excellent results', 'delivered all financial targets', 'carrying momentum'. Specific numbers were provided for revenue growth (18% YoY in Q4), EBITDA margin expansion (260 bps in Q4), and mortgage growth (39% YoY).

Q1 2026 latest

Confident Specific

Management consistently described results as 'consistent execution', 'outperforming the broader housing market', and 'on track toward achieving full-year goals'. Used phrases like 'winning strategy', 'clear path', and 'we are in control of our own path' throughout the call.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call. Zillow delivered 18% revenue growth against a flat housing market, with net income margin up 500bps, demonstrating durable execution. Rentals continues to accelerate (42% growth) and mortgage origination doubled. The integration strategy and AI initiatives are showing early traction, but near-term headwinds include legal costs from the FTC trial and a soft resi growth driven by agent sentiment on MBP. Key metrics to watch next quarter: enhanced markets connection percentage, rentals property count growth, mortgage margins, and the pace of AI mode rollout. Overall, the thesis of a diversified, platform-driven growth is reinforced, but the macro-dependent MBP segment remains a risk.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Q1 2026 revenue $708M (+18% YoY), net income $46M, EBITDA $182M.

Revenue & Profitability

Total revenue in Q1 2026 was $708 million, up 18% YoY. Net income was $46 million (net income margin 6%, up >500 bps YoY). EBITDA was $182 million (26% margin) and free cash flow was $127 million (+44% YoY). For-sale revenue grew 12% to $514M (residential +8%, mortgages +56%). Rentals revenue grew 42% to $183M.

Outlook

Management assumes the housing market will remain effectively flat for the rest of 2026, with no recovery in transaction volume. Q1 saw worse‑than‑expected weather and interest rate volatility, but Zillow outperformed. The company plans for continued macro uncertainty but believes its diversified strategy and structural drivers support mid‑teens revenue growth and margin expansion.

Growth Drivers

Key growth levers include: enhanced markets (now 49% of connections, targeting ≥75%); Zillow Home Loans (purchase loan origination volume up 96% to $1.5B); rentals (multifamily revenue +57%, 76K properties, 36M monthly visitors); Zillow Showcase (4.3% of new listings); Zillow Preview (60+ brokerages); Follow Up Boss (70%+ monthly active user growth); and AI mode (live for 5% of audience).

Balance Sheet & CapEx

Not discussed in this earnings call. The company noted a fixed cost base of approximately $1.1 billion expected to grow with inflation, and plans to invest in rentals and loan officers in the first half of 2026, with a slower pace of rentals investment in the second half. Advertising spend is planned at $80M in Q2, up from $64M a year ago.

Margins

EBITDA margin was 26% in Q1 (27% excluding $11M incremental legal costs, up 160 bps). Net income margin expanded >500 bps YoY to 6%. Management expects meaningful margin expansion in the back half of 2026 driven by fixed cost leverage, decelerating variable cost growth (from –400 bps headwind to neutral by year‑end), lower legal expenses post‑FTC trial, and typical seasonal advertising patterns.

Key Risks

Risks flagged include: adverse macro conditions (flat housing market, interest rate volatility, weather impact); legal costs – $11M incremental in Q1, $20M expected in Q2 due to FTC trial; reliance on agent sentiment affecting market‑based pricing (MBP); and slower‑than‑expected conversion in mortgages. The company also notes structural complexity in real estate and regulatory landscape as ongoing challenges.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-05

Q2 2026 saw 18% revenue growth and strong EBITDA, with continued outperformance versus a flat housing market. The company is accelerating its Preferred agent model, expanding AI-driven features, and restructuring for efficiency, while maintaining robust liquidity and guiding for mid-teens revenue growth in 2026.

Q1 2026 Q1 2026 2026-05-06

Q1 2026 revenue grew 18% year-over-year to $708M, with EBITDA and net income margins expanding despite a flat housing market. Strong growth in rentals and mortgages, rapid AI adoption, and robust capital returns position the business for mid-teens revenue growth and margin expansion in 2026.

Q4 2025 Q4 2025 2026-02-10

Delivered strong Q4 and full-year 2025 results with 18% revenue growth in Q4 and 16% for the year, achieving profitability and expanding margins. Rentals and mortgages segments saw robust growth, and guidance calls for continued mid-teens revenue growth and margin expansion in 2026.

Q3 2025 Q3 2025 2025-10-30

Q3 saw 16% revenue growth, margin expansion, and positive net income, with strong results in both for-sale and rentals segments. Guidance calls for continued double-digit growth and margin gains despite a challenging housing market, supported by innovation and expanding digital offerings.

Q2 2025 Q2 2025 2025-08-06

Q2 delivered 15% revenue growth and positive net income, with strong gains in both for sale and rentals segments. Guidance for 2025 was raised to mid-teens revenue growth, driven by accelerating rentals and continued cost discipline.

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