Zillow (Z) Gross Margin (2014 - 2026)
Zillow's Gross Margin was 72.80% in Q2 2026, down 1.86 percentage points from 74.66% a year earlier and down 0.51 percentage points from the prior quarter.
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Analysis
Zillow (Z) Gross Margin (2014 - 2026) Analysis & Trends
On a trailing twelve-month basis, Zillow's Gross Margin was 72.88% through Jun 30, 2026, down 2.87 percentage points year-over-year; for FY2025, it was 74.14%, down 2.29 percentage points from FY2024.
- Gross Margin has now declined for four consecutive years, with a five-year change of -10.16 percentage points (FY2020 to FY2025).
- In earlier years, Gross Margin was 76.43% in FY2024 (-1.92 pp), 78.35% in FY2023 (-2.90 pp), 81.26% in FY2022 (-3.59 pp) and 84.85% in FY2021 (+0.55 pp).
- Quarterly Gross Margin has moved between 72.63% (Q3 2025) and 85.09% (Q3 2021) over five years.
- Compared with a year earlier, Gross Margin has declined for five straight quarters, with an average year-over-year change of -2.01 percentage points over the last eight quarters.
- The best year-over-year quarter for Gross Margin over five years was Q1 2022 (a gain of 41.21 percentage points); the worst was Q4 2023 (a drop of 3.80 percentage points).
- Per Business Quant data, Z's Gross Margin in the three quarters before Q2 2026 was 73.31% (Q1 2026), 72.78% (Q4 2025) and 72.63% (Q3 2025).
Peer Set
Peer Comparison
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 72.80% |
| 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% |
API Access
Zillow Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=Z&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "Z", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=Z&period=max&api_key=YOUR_API_KEY");
const data = await res.json();