The company has spent two decades earning consumer trust by investing in technology that brings transparency and efficiency to a complex process and delivering sustained value to agents across their businesses. 2025 revenue rose 16% to $2.58B, with Q4 net income turning positive and Adjusted EBITDA hitting $622M, with rentals and mortgage originations delivering standout growth.
Cyborg Score Rationale
The company returned to profitability with 2025 GAAP net income of $23 million versus a $112 million loss in 2024, and Adjusted EBITDA grew 25% with margin rising to 24%. Rental segment showed significant growth with 45% increase in Q4 revenue driven by multifamily revenue growth. The company is executing well with high growth engines and margin expansion.
Top Insights
Q4 For Sale revenue rose 11% to $475 million with 39% growth in mortgages revenue, while Rentals revenue surged 45% driven by 63% multifamily growth
Zillow ended 2025 with $1.3 billion in cash and investments and generated $420 million of Adjusted free cash flow
Traffic to mobile apps and sites was up 7% to 250 million average monthly unique users
Q4 EBITDA margin was 23%, 260 basis points higher than a year ago, with full year 2025 EBITDA growing 25% year over year
Named Competitors
Redfin — Real estate brokerage and technology platform
CoStar Group — Commercial and residential real estate information provider
First American — Real estate services and title insurance
Recent Developments
(February 2026) Zillow let go of 200 employees representing about 2% of headcount as part of performance-related role reductions
(February 2026) Company provided 2026 guidance targeting mid-teens revenue growth and continued EBITDA margin expansion
(January 2026) Zillow reported strong Q4 2025 results with 18% year-over-year revenue growth to $654 million and returned to GAAP profitability
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