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Zillow Group Class C (Z)
NASDAQ:Z
Earnings Data
Report Date
May 06, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.46Last Year’s EPS
0.41Same Quarter Last Year
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a decidedly positive operational and financial picture: strong revenue growth across both for‑sale and rentals, meaningful margin expansion, GAAP profitability, robust free cash flow, share buybacks, and clear product traction (enhanced markets, rentals, Showcase, Follow‑up Boss). Near‑term challenges center on elevated legal expenses, deliberate investments that increase variable costs, and a housing market that remains subdued, which temper the pace of margin expansion in early 2026. Overall, the strength and breadth of growth and profitability achievements outweigh the lowlights and planned investments.Company Guidance
Strong Top-Line Growth
Q4 2025 revenue grew 18% year over year to $654 million and full-year 2025 revenue grew 16% year over year, consistent with mid‑teens growth guidance.
Profitability and Margin Expansion
Full‑year 2025 delivered GAAP net income of $23 million. Q4 EBITDA was $149 million with a 23% margin (+260 basis points YoY). Full‑year EBITDA margin expanded ~180–200 basis points year over year and full‑year EBITDA grew 25% YoY.
For Sale & Mortgages Momentum
For sale revenue was $1.9 billion in 2025, up 9% YoY (Q4 for sale +11% YoY). Mortgages revenue grew 39% YoY in Q4 and 37% YoY for the full year; purchase loan origination volume accelerated materially (company cited +67% YoY in Q4 and overall purchase origination volume up 53% YoY).
Rentals as a High‑Growth Engine
Rentals revenue grew 45% YoY in Q4 and 39% YoY for full‑year 2025, reaching $630 million. Multifamily revenue grew 63% YoY in Q4 and 58% YoY for the full year. Average monthly active rental listings reached 2.5 million and estimated rental listing share increased to 63% (from 54% in 2024).
Product Traction and Platform Integration
Enhanced markets connections increased to 44% of connections (from 21% a year ago). Showcase adoption rose to 3.7% of new listings (from 1.7% a year ago). Follow‑up Boss Smart Messages scaled to over 7 million AI‑powered messages. Viability enrolled 3.6 million users (up from 2.9M at end of Q3).
Operational Discipline and Cash Generation
Full‑year free cash flow was $420 million, a 36% increase YoY. Share‑based compensation declined (13% YoY in 2025; expected >10% decline in 2026). Company repurchased $670 million of shares in 2025 and returned $1.1 billion in cash to shareholders for the year; total repurchases to date $2.6 billion. Ended 2025 with $1.3 billion in cash and investments and a $500 million revolver.
2026 Outlook and Ongoing Growth Targets
Q1 2026 revenue guidance $700–710 million (implying ~18% YoY growth at midpoint). Company expects mid‑teens revenue growth for full‑year 2026, ~30% rentals revenue growth in 2026, continued EBITDA margin expansion, and progress toward multiyear mid‑cycle targets (e.g., $5B revenue and 45% EBITDA margin in a normalized housing market).
Market Share and Category Leadership
Zillow highlighted strong consumer engagement with ~31 million average monthly unique visitors to rentals in Q4 and stated ~80% of agent users touch an estimated 80% of residential real estate transactions, reinforcing the company’s large audience and embedded industry software footprint.
Z Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
Z Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 10, 2026 | $54.71 | $45.66 | -16.54% |
Oct 30, 2025 | $71.72 | $74.98 | +4.55% |
Aug 06, 2025 | $85.18 | $84.63 | -0.65% |
May 07, 2025 | $67.88 | $67.90 | +0.03% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Zillow Group Class C (Z) report earnings?
Zillow Group Class C (Z) is schdueled to report earning on May 06, 2026, After Close (Confirmed).
What is Zillow Group Class C (Z) earnings time?
Zillow Group Class C (Z) earnings time is at May 06, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is Z EPS forecast?
Z EPS forecast for the fiscal quarter 2026 (Q1) is 0.46.
