Zillow Group, Inc. (ZG)
NEUTRALFondamental
52
Prix
$38.30
Capitalisation boursière
$8.27B
Partie 1 · Ce que vaut l'entreprise
Vue d'ensemble
Zillow runs the website and app most home shoppers in the United States use to browse listings, estimate what a home is worth, and find a real-estate agent. It does not buy or sell homes itself: it makes money by connecting the people looking at its site with agents, lenders and property managers who pay to reach them. The audience is the product; real estate transactions happen off Zillow's books.
Comment l'entreprise gagne de l'argent
Most revenue comes from real-estate agents and brokerages who pay for leads and advertising placement tied to Zillow's traffic, plus a growing slice from advertising sold to landlords and property managers listing rentals, and from fees earned originating mortgages. Because Zillow is paid for attention and leads rather than for closing a sale, its revenue rises and falls with how many people are actively browsing homes, not with home prices themselves.
Chiffre d'affaires par segment
Advertising and software sold to real-estate agents and brokerages, plus new-construction listings — the core of the business.
Advertising and listing tools sold to landlords and property managers for rental units, the fastest-growing part of the business.
Revenue from originating home loans and from advertising sold to mortgage lenders on Zillow's site.
Mainly display advertising not tied to the other three lines.
Avantage concurrentiel
Effets de réseau · ÉtroitMore home shoppers on Zillow's site makes it more attractive for agents to advertise there, and more agent listings make the site more useful to shoppers — a loop that has made Zillow the largest audience in U.S. real estate search. It is not unbreakable: a large share of listing traffic depends on data-sharing agreements with brokers and portals, and a competitor like Google inserting listings directly into search results could intercept that audience before it reaches Zillow at all.
Ce qui stimule la demande
CycliqueZillow's revenue tracks the health of the housing market: low inventory, fewer new listings, and volatile mortgage rates reduce the transactions that fund agent advertising budgets, even if browsing traffic stays high. Rentals and mortgages add some diversification, but the core business still rises and falls with how active the housing market is.
Principaux risques
- Sensitivity to housing market conditions — Low housing inventory, fewer new for-sale listings, and volatile mortgage rates can reduce both the number of transactions consumers complete and demand for advertising from agents.
- Search platforms bypassing Zillow — Large search engines have begun showing home listings directly in their own results, which could divert the traffic Zillow depends on before it ever reaches Zillow's site.
- Legal and regulatory disputes — The company faces litigation, including antitrust claims tied to a rentals partnership with a competitor, from consumers, industry participants and government bodies, which could result in costs or forced changes to its business practices.
Les arguments en faveur
Buyers argue that Zillow's audience lead in real-estate search is difficult to replicate, that rentals and mortgages are diversifying revenue away from pure for-sale transactions and growing faster than the core business, and that full-year revenue growth well ahead of the housing industry's own growth shows Zillow taking share regardless of the market cycle.
Les arguments contre
Sellers fear that a business built on advertising to agents remains hostage to housing transaction volumes it does not control, that large search platforms inserting listings directly into their own results could erode the traffic advantage Zillow relies on, and that ongoing litigation adds cost and uncertainty on top of an already cyclical business.
Written by the editors, published on 18 août 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Bilan & Liquidités
Chiffre d'affaires
$2.81B
12 derniers mois (au 30/06/2026)
Résultat net
$55M
12 derniers mois (au 30/06/2026)
Flux de trésorerie libre
$235M
Capitaux propres totaux
$4.88B
Passif total
$801M
Ratio de liquidité général
1.92
Couverture des intérêts
0.67
Dette/EBITDA
2.43
Bénéfice par action
Chiffre d'affaires & Résultat net
Flux de trésorerie libre
Décomposition du résultat
État historique
Marges dans le temps
La dette dans le temps
Le poids de la dette
Grille de la croissance
Croissance — Chiffre d'affaires
Estimation de la juste valeur
Juste valeur
$22.39
Prix actuel
$38.30
Marge de sécurité
-71.1%
Fourchette de juste valeur
$14.56 - $30.23
Méthodes d'estimation
Indicateurs de valorisation
Ratio P/E
172.50
ROE
0.5%
Ratio P/B
0.36
P/FCF
6.09
Marge brute
72.9%
ROIC
0.2%
Radar de rentabilité
Value Creation (Economic Moat)
ROIC
0.2%
WACC
14.8%
ROIC − WACC
-14.6 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Critères d'analyse fondamentale
Réussi (13)
- EPS shows upward trend
- Gross Margin 72.9%
- P/FCF 6.09
- P/B Ratio 0.36
- Debt/Equity ratio
- Positive Free Cash Flow
- Current Ratio
- Debt/EBITDA
- Analyst Consensus 57% Buy
- Earnings Surprise avg 5.8%
- Earnings Quality (OCF/NI) 7.05
- Net Margin Trend 2.0% vs -2.6%
- Piotroski F-Score 7/9
Échoué (12)
- Price CAGR 0.09%
- ROIC 0.2%
- Operating Margin 0.4%
- CapEx intensity
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Unknown)
- ROE 1.2%
- Revenue Growth 5Y -5.0%
- Share Dilution 9.5%
Indisponible (2)
- Dividend Payout NaN%
- PEG Ratio (need PE > 0 and growth > 0)
Score F de Piotroski
Santé financière solide
Qualité des bénéfices
Qualité élevée : bénéfices soutenus par la trésorerie
Dilution du capital
Émission de nouvelles actions, diluant la participation
Gouvernance
Équipe dirigeante
| Nom | Titre | Âge |
|---|---|---|
| Mr. Richard N. Barton | Co-Founder & Co-Executive Chair | 57 |
| Mr. Lloyd D. Frink | Co-Founder, Co-Executive Chairman & President | 60 |
| Mr. Jeremy Wacksman | CEO & Director | 48 |
| Mr. Jeremy Hofmann | COO & CFO | 39 |
| Ms. Jennifer A. Rock | Chief Accounting Officer | 43 |
| Mr. David A. Beitel | Chief Technology Officer | 55 |
| Mr. Bradley Allen Berning | Vice President of Investor Relations | - |
| Mr. Dan Spaulding | Chief People Officer | 48 |
| Mr. Errol G. Samuelson | Chief Industry Development Officer | 59 |
| Mr. Christopher Roberts | Chief Product Officer | - |
Partie 2 · Le prix et le moment d'entrer
Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.
Latest News
Recent headlines for ZG, sourced from Markets Gazette.
- 2/27/2026POSITIVEZillow predicts major mortgage rate change, homebuying shift
Real estate platform Zillow anticipates a significant turning point in the U.S. housing market, with mortgage rates expected to decline. This prediction suggests that affordability, long a distant dream for many homebuyers, could finally become a tangible reality. A drop in rates would make homeownership more accessible, stimulating demand and potentially revitalizing the sector. For investors, this outlook points to a potential strengthening of the real estate market, benefiting companies directly tied to the industry, such as Zillow itself, which would see increased transactions on its platform.
via Markets Gazette