Zillow (Z) Invested Capital (2017 - 2026)
Zillow's (Z) quarterly Invested Capital came in at $4.8 billion in Q2 2026, down 4.08% year-over-year from $5.0 billion in Q2 2025, and up 0.63% quarter-over-quarter from $4.7 billion in Q1 2026.
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Analysis
Zillow (Z) Invested Capital (2017 - 2026) Analysis & Trends
Zillow (Z) has reported Invested Capital for 10 consecutive years, with $4.8 billion the latest figure, recorded in Q2 2026.
- On a quarterly basis, Invested Capital fell 4.08% year-over-year to $4.8 billion in Q2 2026; TTM through Jun 2026 was $4.8 billion, a 4.08% decrease from a year earlier, with the FY2025 full-year figure at $5.2 billion, changed 0.34% from the prior year.
- Invested Capital was $4.8 billion for Q2 2026 at Zillow, up from $4.7 billion in the prior quarter.
- Over five years, Invested Capital peaked at $5.6 billion in Q1 2022 and troughed at $4.5 billion in Q4 2022.
- A 5-year average of $5.0 billion and a median of $5.1 billion in 2023 frame the typical range for Invested Capital.
- Across the five-year window, Invested Capital plunged 54.56% in 2022 and advanced 21.4% in 2024, its largest moves.
- Over 5 years, Invested Capital stood at $4.5 billion in 2022, then increased by 13.59% to $5.1 billion in 2023, then advanced by 2.59% to $5.3 billion in 2024, then fell by 0.34% to $5.2 billion in 2025, then fell by 9.05% to $4.8 billion in 2026.
- The last three Invested Capital figures came in at $4.8 billion (Q2 2026), $4.7 billion (Q1 2026), and $5.2 billion (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Costar | 11.66 Bn | 10.40 Bn | 728.00 Mn | 8.95 Bn |
| 2 | Appfolio | 7.30 Bn | 7.08 Bn | 178.53 Mn | - |
| 3 | Zillow | 6.96 Bn | 6.28 Bn | 562.00 Mn | 4.77 Bn |
| 4 | SmartRent | 229.93 Mn | 137.27 Mn | 16.22 Mn | - |
| 5 | Fangdd Network | 23.51 Mn | -82.57 Mn | - | - |
| 6 | 3 E Network Technology | 430,612.01 | -468,262.99 | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.77 Bn |
| Mar 31, 2026 | 4.74 Bn |
| Dec 31, 2025 | 5.25 Bn |
| Sep 30, 2025 | 5.26 Bn |
| Jun 30, 2025 | 4.98 Bn |
| Mar 31, 2025 | 5.17 Bn |
| Dec 31, 2024 | 5.27 Bn |
| Sep 30, 2024 | 5.07 Bn |
| Jun 30, 2024 | 5.53 Bn |
| Mar 31, 2024 | 5.27 Bn |
| Dec 31, 2023 | 5.13 Bn |
| Sep 30, 2023 | 5.14 Bn |
| Jun 30, 2023 | 4.55 Bn |
| Mar 31, 2023 | 4.56 Bn |
| Dec 31, 2022 | 4.52 Bn |
| Sep 30, 2022 | 4.64 Bn |
| Jun 30, 2022 | 4.72 Bn |
| Mar 31, 2022 | 5.59 Bn |
| Dec 31, 2021 | 6.77 Bn |
| Sep 30, 2021 | 10.21 Bn |
API Access
Zillow Invested Capital 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=invested-capital&ticker=Z&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=Z&period=max&api_key=YOUR_API_KEY");
const data = await res.json();