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Zillow Group

Z on Nasdaq. Zillow sells home listings and rental tools to renters, buyers and real estate agents. Market value $14.9bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Technology stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
3.7%fair

For every $100 of what the whole company costs, it produced $3.67 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
-2.6%five-year median

Each dollar kept in the business earns -3 cents a year. Above 10 is good.

Quality score: 46 of 100. Price score: 41 of 100. Our list needs 70 on quality and 60 on price.

$27.70 a share, 4% above its 1-year low

Over the past year the price has ranged from $26.67 to $79.40.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-3.3
4.4
0.2
0.3
0.2
0.3
2021202220232024202512 monthsto Jun '26
Revenue
$2.1bn$2.0bn$1.9bn$2.2bn$2.6bn
Operating margin
11.2%-4.7%-13.9%-8.8%-1.3%
Debt to equity
0.270.380.380.12n/a
Shares outstanding
0.26bn0.24bn0.23bn0.23bn0.25bn

Health checks

  • Free cash flow positive4 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)6 of 7 checks we could run
  • Profit backed by cash (accruals)Yes
  • DebtUnknown
  • Revenue growth, five yearsSlow, 9.7% a year
  • Buying back its own sharesYes, 3% fewer since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $772 million last quarter, up 18% on a year ago.
  • A loss of $4 million, after a profit of $2 million a year ago.
  • It keeps 0 cents of each $1 of sales as operating profit, after losing 6 cents a year earlier.
  • Spare cash over the past 12 months: $258 million, down from $344 million.
  • 9% fewer shares than a year ago. Each share owns a bit more of the company.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$581m
December 2024$554m
March 2025$598m
June 2025$655m
September 2025$676m
December 2025$654m
March 2026$708m
June 2026$772m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$20m
December 2024-$52m
March 2025$8m
June 2025$2m
September 2025$10m
December 2025$3m
March 2026$46m
June 2026-$4m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
11 February 2026
Next quarterly (estimated, 10-Q)
4 November 2026

Who owns it

1 long-term investor we follow owns it, down from 3 last quarter. 417 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

6 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 12 sold $15m, $9m of it under preset trading plans.

  • BLACHFORD ERIK C
    Director
    Sold
    under a preset trading plan
    Date
    3 September 2026
    Shares
    792
    Price
    $35.71
    Value
    $28,282
  • Cormier Thielke Claire
    Director
    Sold
    under a preset trading plan
    Date
    3 September 2026
    Shares
    1,187
    Price
    $35.71
    Value
    $42,388
  • Hofmann Jeremy
    COO & CFO
    Sold
    under a preset trading plan
    Date
    17 August 2026
    Shares
    5,661
    Price
    $34.18
    Value
    $193,479
  • Wacksman Jeremy
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    17 August 2026
    Shares
    9,339
    Price
    $34.18
    Value
    $319,176
  • Spaulding Dan
    Chief People Officer
    Sold
    Date
    14 August 2026
    Shares
    3,169
    Price
    $35.37
    Value
    $112,085
  • Beitel David A.
    Chief Technology Officer
    Sold
    Date
    13 August 2026
    Shares
    1,798
    Price
    $34.24
    Value
    $61,571
  • Rock Jennifer
    Chief Accounting Officer
    Sold
    Date
    13 August 2026
    Shares
    990
    Price
    $34.24
    Value
    $33,896
  • Samuelson Errol G
    Chief Industry Dev. Officer
    Sold
    Date
    13 August 2026
    Shares
    3,154
    Price
    $34.24
    Value
    $108,001
  • Spaulding Dan
    Chief People Officer
    Sold
    Date
    13 August 2026
    Shares
    1,966
    Price
    $34.24
    Value
    $67,324
  • Hofmann Jeremy
    COO & CFO
    Sold
    under a preset trading plan
    Date
    13 August 2026
    Shares
    3,510
    Price
    $34.24
    Value
    $120,190

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.