Zillow Group, Inc (ZG) Key Metrics
ZG valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $7.17B
- Enterprise value
- $17.17B
- P/E (TTM)
- 138.6
- Forward P/E
- 32.6
- PEG ratio
- 0.92
- Price / sales
- 2.6 10-yr median 5.9
- Price / book
- 3.7 10-yr median 2.7
- EV / EBITDA
- 74.3
- Dividend yield
- —
- Beta
- 2.02
ZG key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsZG returns How much profit the business earns on the capital it uses.
ZG financial health Debt, liquidity and how easily interest is covered.
ZG efficiency & capital use Working capital cycle and where the cash goes.
ZG valuation history
ZG returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ZG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ZG cash returned to shareholders
ZG price vs earnings per share
ZG key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | — | — | — | — | — | — | $9.44B | $6.22B | $7.60B | $6.57B |
| Enterprise value | — | — | — | — | — | — | $9.53B | $5.52B | $7.22B | $6.43B |
| Price / sales | — | — | — | — | — | — | 3.4 | 4.7 | 7.1 | 7.8 |
| Price / book | — | — | — | — | — | — | 2.7 | 1.9 | 2.9 | 2.6 |
| Price / free cash flow | — | — | — | — | — | — | — | — | 42.3 | — |
| Price / operating cash flow | — | — | — | — | — | — | — | — | 29.4 | 759.6 |
| EV / sales | — | — | — | — | — | — | 3.5 | 4.1 | 6.7 | 7.6 |
| EV / free cash flow | — | — | — | — | — | — | — | — | 40.2 | — |
| Earnings yield | — | — | — | — | — | — | −3.2% | −1.9% | −1.2% | −3.4% |
| Free cash flow yield | — | — | — | — | — | — | −7.4% | −1.2% | 2.4% | −1.0% |
| Dividend yield | — | — | — | — | — | — | 0.7% | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | — | — | — | — | — | — | 0.7% | 0.0% | 0.0% | 0.0% |
| Share price at fiscal year-end | $68.23 | $70.85 | $56.72 | $31.21 | $62.22 | $135.94 | $45.74 | $31.43 | $40.74 | $36.45 |
| Per share | ||||||||||
| Revenue per share | — | — | — | — | — | — | $13.29 | $6.74 | $5.78 | $4.70 |
| Earnings per share | — | — | — | — | — | — | −$1.48 | −$0.61 | −$0.51 | −$1.22 |
| Operating cash flow per share | — | — | — | — | — | — | −$2.97 | $0.02 | $1.38 | $0.05 |
| Free cash flow per share | — | — | — | — | — | — | −$3.39 | −$0.38 | $0.96 | −$0.35 |
| Cash per share | — | — | — | — | — | — | $11.74 | $7.86 | $4.09 | $2.81 |
| Book value per share | — | — | — | — | — | — | $16.65 | $16.51 | $14.27 | $14.06 |
| Tangible book value per share | — | — | — | — | — | — | $6.10 | $5.39 | $2.20 | $0.46 |
| Dividends per share | — | — | — | — | — | — | $0.32 | — | $0.00 | $0.00 |
| Capex per share | — | — | — | — | — | — | $0.42 | $0.40 | $0.42 | $0.40 |
| Debt per share | — | — | — | — | — | — | $12.18 | $4.29 | $2.07 | $2.04 |
| Shares outstanding | — | — | — | — | — | — | 206.4M | 197.9M | 186.5M | 180.1M |
| Change in shares outstanding | — | — | — | — | — | — | +4.3% | +6.2% | +3.5% | +6.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 0.5% | −2.4% | −3.5% | −2.1% | −10.5% | −4.0% | −9.1% | −4.0% | −3.6% | −8.5% |
| Return on invested capital (ROIC) | −0.8% | −4.3% | −6.5% | −2.1% | 6.4% | 3.7% | −6.4% | −4.2% | −5.5% | −6.4% |
| Return on assets (ROA) | 0.4% | −1.8% | −2.4% | −1.2% | −5.8% | −2.4% | −5.9% | −3.2% | −3.0% | −7.0% |
| Return on tangible assets | 0.9% | −4.0% | −4.4% | −2.5% | −6.5% | −3.0% | −7.7% | −5.7% | −9.6% | −31.5% |
| Free cash flow margin | 9.1% | 12.7% | 9.7% | 222.9% | −153.9% | 19.4% | −25.5% | −5.6% | 16.7% | −7.5% |
| Income quality (OCF / net income) | 16.00 | — | — | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $536.0M | $660.0M | $1.83B | $1.87B | $1.60B | $2.52B | $2.51B | $848.7M | $385.4M | $367.4M |
| Cash & short-term investments | $1.29B | $1.86B | $2.81B | $3.36B | $2.83B | $3.92B | $2.42B | $1.55B | $762.5M | $506.5M |
| Net debt | −$759.0M | −$1.20B | −$981.0M | −$1.50B | −$1.23B | −$1.40B | $90.8M | −$706.2M | −$377.1M | −$139.1M |
| Debt / equity | 0.11 | 0.14 | 0.40 | 0.42 | 0.30 | 0.53 | 0.73 | 0.26 | 0.14 | 0.15 |
| Debt / assets | 0.09 | 0.11 | 0.28 | 0.28 | 0.15 | 0.34 | 0.41 | 0.20 | 0.12 | 0.12 |
| Net debt / EBITDA | −2.26 | −6.69 | −9.43 | −11.50 | −3.21 | −4.37 | — | — | — | — |
| Current ratio | 3.13 | 2.81 | 3.24 | 13.34 | 1.98 | 5.46 | 3.81 | 6.58 | 7.11 | 5.98 |
| Quick ratio | 3.13 | 2.81 | 3.25 | 13.19 | 0.97 | 4.92 | 2.90 | 6.02 | 7.11 | 5.98 |
| Interest coverage | -1.8 | -5.5 | -7.5 | -2.7 | 1.9 | 1.0 | -2.4 | -3.1 | -5.9 | -26.0 |
| Working capital | $1.44B | $1.50B | $2.18B | $3.33B | $3.80B | $4.06B | $2.59B | $1.61B | $723.1M | $484.6M |
| Invested capital | $4.12B | $3.65B | $3.54B | $2.99B | $4.12B | $3.34B | $3.53B | $2.56B | $2.28B | $2.39B |
| Tangible asset value | $1.78B | $1.82B | $1.47B | $1.95B | $2.79B | $2.66B | $1.26B | $1.07B | $410.0M | $82.6M |
| Net current asset value | $1.32B | $1.35B | $1.02B | $1.52B | $2.33B | $2.22B | $813.6M | $868.8M | $271.8M | −$34.3M |
| Graham net-net per share | — | — | — | — | — | — | $0.94 | $3.34 | $1.25 | −$0.44 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | $72.0M | $1.19B | $4.88B | — | $65.5M | — | $0 | $0 |
| Share buybacks (net) | $670.0M | $301.0M | $424.0M | $947.0M | $302.3M | $0 | $3,000 | $70,000 | $365,000 | $616,000 |
| Dividends + buybacks / free cash flow | 285.1% | 105.6% | 262.4% | 48.9% | — | 0.0% | — | — | 0.2% | — |
| Capex / revenue | 5.1% | 6.4% | 8.5% | 7.2% | 4.9% | 6.7% | 3.2% | 5.9% | 7.3% | 8.5% |
| Capex / operating cash flow | 36.1% | 33.4% | 46.6% | 3.1% | — | 25.6% | — | 2,039.9% | 30.5% | 829.6% |
| Capex / depreciation | 0.45 | 0.57 | 0.74 | 0.78 | 0.68 | 0.81 | 0.78 | 0.79 | 0.71 | 0.71 |
| Stock-based compensation / revenue | 15.1% | 20.0% | 23.2% | 23.0% | 14.6% | 12.2% | 7.3% | 11.2% | 10.5% | 12.6% |
| R&D / revenue | 23.5% | 26.2% | 28.8% | 25.4% | 19.7% | 21.5% | 17.4% | 30.8% | 29.7% | 32.3% |
| SG&A / revenue | 51.9% | 58.8% | 62.3% | 59.3% | 53.0% | 49.8% | 39.4% | 61.1% | 61.2% | 82.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 19.8 | 16.3 | 15.8 | 13.9 | 12.6 | 15.4 | 8.9 | 16.5 | 16.1 | 15.2 |
| Days of inventory on hand | — | — | 17.3 | 1,967.1 | 2,488.3 | 950.4 | 127.4 | 193.5 | 0.0 | — |
| Days payables outstanding | 18.0 | 20.1 | 20.8 | 15.4 | 16.9 | 19.6 | 2.0 | 13.1 | 16.8 | 19.4 |
| Cash conversion cycle (days) | 1.8 | -3.8 | 12.3 | 1,965.5 | 2,483.9 | 946.2 | 134.2 | 196.8 | -0.7 | -4.3 |
| Receivables turnover | 18.45 | 22.36 | 23.15 | 26.28 | 29.02 | 23.72 | 41.22 | 22.14 | 22.69 | 24.08 |
| Payables turnover | 20.24 | 18.17 | 17.54 | 23.68 | 21.55 | 18.67 | 181.11 | 27.78 | 21.72 | 18.80 |
| Inventory turnover | — | — | — | 0.19 | 0.15 | 0.38 | 2.87 | 1.89 | 170,406,000.00 | — |
| Asset turnover | 0.45 | 0.36 | 0.29 | 0.23 | 0.23 | 0.24 | 0.53 | 0.35 | 0.34 | 0.27 |
| Average receivables | $140.0M | $100.0M | $84.0M | $74.5M | $73.5M | $68.5M | $66.5M | $60.2M | $47.5M | $35.2M |
| Average payables | $33.0M | $29.0M | $24.0M | $15.5M | $15.0M | $13.7M | $7.9M | $5.5M | $3.9M | $3.8M |
| Average inventory | — | — | $20.0M | $1.98B | $2.20B | $664.0M | $499.7M | $81.4M | $0 | $0 |
| Intangibles / total assets | 54.6% | 52.0% | 46.0% | 38.5% | 23.8% | 27.8% | 35.5% | 51.3% | 69.7% | 77.8% |
Computed from ZG's annual financial statements (latest annual report filed February 11, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ZG valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 138.6 and the forward P/E is 32.6. Zillow earned a return on equity of 0.5% and a return on invested capital of −0.8% in fiscal 2025. It ended the year with $536.0 million of debt and $1.3 billion in cash and short-term investments, a net cash position of $759.0 million. It returned $670.0 million to shareholders: $0 in dividends and $670.0 million in share buybacks, 285% of free cash flow.
See the ZG income statement, the ZG chart for price history, or the ZG stock overview for the latest quote and news.
ZG key metrics FAQ
What is Zillow's P/E ratio?
Zillow's trailing P/E ratio is 138.6 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 32.6. At the end of fiscal 2025 it was —.
What is Zillow's return on equity?
Zillow's return on equity (ROE) was 0.5% in fiscal 2025: net income of $23.0 million on average shareholders' equity of $4.9 billion.
What is Zillow's ROIC?
Zillow's return on invested capital was −0.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Zillow have?
Zillow had total debt of $536.0 million at the end of fiscal 2025, a debt-to-equity ratio of 0.11 and more cash than debt.
Does Zillow buy back its shares?
Yes. Zillow spent $670.0 million on net share repurchases in fiscal 2025.
What is Zillow's current ratio?
Zillow's current ratio was 3.13 at the end of fiscal 2025: current assets were 3.13 times current liabilities.