Zillow (Z) Gross Margin (2014 - 2026)
Zillow (Z) reported Gross Margin of 73.31% for Q1 2026, down 345.0% year-over-year from 29.92% in Q1 2025, and up 0.72% on a QoQ basis from 72.78% in Q4 2025.
Zillow (Z) has 13 years of Gross Margin data on file, last reported at 73.31% in Q1 2026.
- Quarterly Gross Margin fell 345.0% year-over-year to 73.31% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 73.34% (down 310.0% YoY) and the FY2025 annual result came in at 74.14%, down 229.0% from the prior year.
- Gross Margin rose to 73.31% in Q1 2026 per Z's latest filing, from 72.78% in the prior quarter.
- Across five years, Gross Margin topped out at 82.84% in Q1 2022 and bottomed at 72.63% in Q3 2025.
- The 5-year median for Gross Margin is 76.76% (2025), against an average of 77.29%.
- The widest annual swing landed in 2022, when Gross Margin jumped 4121 bps; it then plunged 380 bps in 2023.
- Tracing Z's Gross Margin over 5 years: stood at 79.54% in 2022, then fell by 5 bps to 75.74% in 2023, then advanced by 0 bps to 75.81% in 2024, then dropped by 4 bps to 72.78% in 2025, then gained by 1 bps to 73.31% in 2026.
- Per Business Quant, the three latest Z Gross Margin figures stand at 73.31% (Q1 2026), 72.78% (Q4 2025), and 72.63% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,554.43 Bn | 4,338.81 Bn | 102.29 Bn | 93.08% |
| 2 | Meta Platforms | 1,602.78 Bn | 1,521.60 Bn | 46.09 Bn | 81.85% |
| 3 | Spotify Technology | 119.86 Bn | 109.62 Bn | 1.75 Bn | 32.98% |
| 4 | 33.71 Bn | 30.94 Bn | 511.94 Mn | 77.17% | |
| 5 | Nebius | 22.38 Bn | 22.38 Bn | 295.20 Mn | 73.98% |
| 6 | 12.76 Bn | 11.46 Bn | 768.96 Mn | 76.32% | |
| 7 | Kanzhun | 12.59 Bn | 10.49 Bn | 255.62 Bn | 85.23% |
| 8 | Snap | 9.64 Bn | 6.81 Bn | 1.29 Bn | 84.37% |
| 9 | Match | 8.43 Bn | 7.41 Bn | 653.28 Mn | 75.62% |
| 10 | Zillow | 8.25 Bn | 7.47 Bn | 519.00 Mn | 73.31% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 73.31% |
| Dec 31, 2025 | 72.78% |
| Sep 30, 2025 | 72.63% |
| Jun 30, 2025 | 74.66% |
| Mar 31, 2025 | 76.76% |
| Dec 31, 2024 | 75.81% |
| Sep 30, 2024 | 75.90% |
| Jun 30, 2024 | 77.27% |
| Mar 31, 2024 | 76.75% |
| Dec 31, 2023 | 75.74% |
| Sep 30, 2023 | 77.82% |
| Jun 30, 2023 | 79.45% |
| Mar 31, 2023 | 80.38% |
| Dec 31, 2022 | 79.54% |
| Sep 30, 2022 | 81.57% |
| Jun 30, 2022 | 80.75% |
| Mar 31, 2022 | 82.84% |
| Dec 31, 2021 | 82.24% |
| Sep 30, 2021 | 85.09% |
| Jun 30, 2021 | 41.07% |
| Mar 31, 2021 | 41.63% |
| Dec 31, 2020 | -36.88% |
| Sep 30, 2020 | 62.88% |
| Jun 30, 2020 | 36.55% |
| Mar 31, 2020 | 81.82% |
| Dec 31, 2019 | 79.00% |
| Sep 30, 2019 | 46.35% |
| Jun 30, 2019 | 68.74% |
| Mar 31, 2019 | 64.42% |
| Dec 31, 2018 | 171.21% |
| Sep 30, 2018 | 89.31% |
| Jun 30, 2018 | 54.58% |
| Mar 31, 2018 | 54.22% |
| Dec 31, 2017 | 63.19% |
| Sep 30, 2017 | 92.14% |
| Jun 30, 2017 | 50.83% |
| Mar 31, 2017 | 56.90% |
| Dec 31, 2016 | -18.88% |
| Sep 30, 2016 | 92.16% |
| Jun 30, 2016 | 91.97% |
| Mar 31, 2016 | 4.81% |
| Dec 31, 2015 | -10.37% |
| Sep 30, 2015 | 30.05% |
| Jun 30, 2015 | 88.29% |
| Mar 31, 2015 | 53.42% |
| Dec 31, 2014 | 106.77% |
| Sep 30, 2014 | 89.44% |
| Jun 30, 2014 | 57.70% |
| Mar 31, 2014 | 90.69% |