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Zillow Group, Inc. (Z) stock analysis

ZNasdaqServices-Business Services, NECFiscal year ends December 31Also trades as ZG
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026Score 6/3013% above fair value
$30.96−0.03 (-0.10%)

Close on Oct 30, 2026Market cap $6.80BP/E 137.5Yield –

StockData Score

Prices as of Oct 30, 2026How the score works

Value2Growth1Performance1Health2Dividend0

Weak6 of 30 checks passed

Zillow passes 6 of the 30 checks behind our score; 13 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
2/6
Growth
1/6
Past performance
1/6
Financial health
2/6
Dividend
0/6

What stands out

  • Low bankruptcy risk

    The Altman Z-score is 4.56; above 3 is the safe zone and below 1.8 the distress zone.

  • EV/EBITDA below its 5-year median

    Zillow's EV/EBITDA of 23.7 is below its 5-year median of 30.7.

  • P/B below the industry

    Zillow's price-to-book of 1.66 is below the Miscellaneous Business Services median of 2.46.

  • Growing faster than the industry

    Revenue grew 17.7% over the last twelve months; the Miscellaneous Business Services median is 9.7%.

What to watch

  • Margin of safety under 20%

    The price is 13.1% above fair value, so there is no margin of safety.

  • Trading above fair value

    The share price of $31.89 is above our fair value estimate of $28.19.

  • Return on equity under 15%

    Return on equity was 1.2% over the last twelve months and averaged -3.6% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was 0.3%, below the 10% that usually covers the cost of capital.

Valuation2/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E above the industry

    Zillow's P/E of 145.0 is above the Miscellaneous Business Services median of 26.1.

  • EV/EBITDA below its 5-year median

    Zillow's EV/EBITDA of 23.7 is below its 5-year median of 30.7.

  • P/B below the industry

    Zillow's price-to-book of 1.66 is below the Miscellaneous Business Services median of 2.46.

  • Trading above fair value

    The share price of $31.89 is above our fair value estimate of $28.19.

  • Margin of safety under 20%

    The price is 13.1% above fair value, so there is no margin of safety.

Growth1/6

  • Revenue growing under 10% a year

    Revenue grew 9.7% a year over the last three fiscal years, short of the 10% we look for.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing faster than the industry

    Revenue grew 17.7% over the last twelve months; the Miscellaneous Business Services median is 9.7%.

  • Company guidance

    No outlook found in earnings releases from the last twelve months.

  • Gross margin slipping

    Gross margin was 72.9% over the last twelve months, against 75.8% a year earlier.

Past performance1/6

  • Return on equity under 15%

    Return on equity was 1.2% over the last twelve months and averaged -3.6% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was 0.3%, below the 10% that usually covers the cost of capital.

  • Return on equity below the industry

    Zillow's return on equity of 1.2% is below the Miscellaneous Business Services median of 5.8%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin above its 5-year average

    Net margin was 2.0% over the last twelve months, against a 5-year average of -8.4%.

  • Net margin below the industry

    Zillow's net margin of 2.0% is below the Miscellaneous Business Services median of 3.4%.

Financial health2/6

  • Debt level

    Needs debt and equity figures.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt coverage

    Needs operating cash flow.

  • Interest not well covered

    Operating income covers interest expense 0.7 times; we look for at least 5.

  • Short-term assets cover short-term debts

    Current assets are 1.92 times current liabilities.

  • Low bankruptcy risk

    The Altman Z-score is 4.56; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Zillow has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$28.19

The share price is 13% above this estimate.

20%+ below
Near fair value
20%+ above
$31.89Price$28.19Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/Eleft out, too far from the others26.1×–26.1×$5.73–
EV/EBITDA23.1×30.7×15.4×$31.1658%
P/B2.4×2.4×2.5×$46.7417%
Earnings power12.3% cost of equity––$8.8825%
Fair value$28.19100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • EV/EBITDA at month end
  • Own 5-year median 30.7
  • Miscellaneous Business Services median 15.4

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$31.58M
Value traded per 1% price move
$12.07M

Downside

High risk

Typical loss in a bad month
33.4%
Volatility (annualized)
50%
Sharpe ratio, 1 year
-1.16
Beta to the S&P 500 (5Y)
1.47

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2012 to 2025

Gross margin

74.1%−10.2 pts over 5 years

Operating margin

-1.3%−8.0 pts over 5 years

Net margin

0.9%+10.9 pts over 5 years