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Zillow (Z) Operating Expenses (2016 - 2025)

Zillow (Z) has disclosed Operating Expenses for 12 consecutive years, with $487.0 million as the latest value for Q4 2025.

  • Quarterly Operating Expenses changed 0.41% to $487.0 million in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $1.9 billion through Dec 2025, up 2.26% year-over-year, with the annual reading at $1.9 billion for FY2025, 2.26% up from the prior year.
  • Operating Expenses for Q4 2025 was $487.0 million at Zillow, down from $494.0 million in the prior quarter.
  • The five-year high for Operating Expenses was $500.0 million in Q2 2025, with the low at $402.0 million in Q2 2022.
  • Average Operating Expenses over 5 years is $452.4 million, with a median of $457.5 million recorded in 2023.
  • Peak annual rise in Operating Expenses hit 299.81% in 2021, while the deepest fall reached 67.02% in 2021.
  • Over 5 years, Operating Expenses stood at $408.0 million in 2021, then grew by 5.15% to $429.0 million in 2022, then increased by 8.16% to $464.0 million in 2023, then grew by 5.39% to $489.0 million in 2024, then decreased by 0.41% to $487.0 million in 2025.
  • According to Business Quant data, Operating Expenses over the past three periods came in at $487.0 million, $494.0 million, and $500.0 million for Q4 2025, Q3 2025, and Q2 2025 respectively.