Zillow (Z) Operating Expenses (2014 - 2026)
Zillow (Z) posted quarterly Operating Expenses of $483.0 million for Q1 2026, up 3.21% year-over-year from $468.0 million in Q1 2025, and down 0.82% quarter-over-quarter from $487.0 million in Q4 2025.
Zillow (Z) Operating Expenses (2014 - 2026) Analysis & Trends
Zillow (Z) has reported Operating Expenses for 13 consecutive years, with $483.0 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses rose 3.21% year-over-year to $483.0 million; the TTM figure through Mar 2026 stood at $2.0 billion (up 2.13% YoY), while the FY2025 annual figure was $1.9 billion, up 2.26% from the prior year.
- Operating Expenses fell to $483.0 million in Q1 2026 per Z's latest filing, from $487.0 million in the prior quarter.
- Across five years, Operating Expenses topped out at $500.0 million in Q2 2025 and bottomed at $402.0 million in Q2 2022.
- Historically, Operating Expenses has averaged $459.8 million across 5 years, with a median of $468.0 million in 2025.
- Annual changes were most pronounced in 2022 — Operating Expenses fell 15.55% — and 2023, when it rose 16.67%.
- Zillow's Operating Expenses stood at $429.0 million in 2022, then grew by 8.16% to $464.0 million in 2023, then rose by 5.39% to $489.0 million in 2024, then retreated by 0.41% to $487.0 million in 2025, then decreased by 0.82% to $483.0 million in 2026.
- Business Quant data shows Z's Operating Expenses at $483.0 million in Q1 2026, $487.0 million in Q4 2025, and $494.0 million in Q3 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,209.11 Bn | 3,780.07 Bn | 73.85 Bn | 79.03 Bn |
| 2 | Meta Platforms | 1,537.88 Bn | 1,447.62 Bn | 49.47 Bn | 42.03 Bn |
| 3 | Taboola.com | 1,134.89 Bn | 1,134.76 Bn | 139.48 Mn | 132.22 Mn |
| 4 | Baidu | 289.34 Bn | 284.85 Bn | 1.88 Mn | 4.19 Bn |
| 5 | Spotify Technology | 102.76 Bn | 92.52 Bn | 1.75 Bn | 512.79 Mn |
| 6 | Joyy | 77.62 Bn | 76.74 Bn | 205.64 Mn | -187.82 Mn |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | 303,858.00 |
| 8 | Nebius | 49.31 Bn | 39.68 Bn | 295.20 Mn | 527.00 Mn |
| 9 | 30.43 Bn | 27.64 Bn | 734.60 Mn | 573.19 Mn | |
| 10 | Zillow | 7.80 Bn | 7.12 Bn | 562.00 Mn | 572.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 572.00 Mn |
| Mar 31, 2026 | 483.00 Mn |
| Dec 31, 2025 | 487.00 Mn |
| Sep 30, 2025 | 494.00 Mn |
| Jun 30, 2025 | 500.00 Mn |
| Mar 31, 2025 | 468.00 Mn |
| Dec 31, 2024 | 489.00 Mn |
| Sep 30, 2024 | 486.00 Mn |
| Jun 30, 2024 | 480.00 Mn |
| Mar 31, 2024 | 451.00 Mn |
| Dec 31, 2023 | 464.00 Mn |
| Sep 30, 2023 | 439.00 Mn |
| Jun 30, 2023 | 469.00 Mn |
| Mar 31, 2023 | 422.00 Mn |
| Dec 31, 2022 | 429.00 Mn |
| Sep 30, 2022 | 445.00 Mn |
| Jun 30, 2022 | 402.00 Mn |
| Mar 31, 2022 | 408.00 Mn |
| Dec 31, 2021 | 408.00 Mn |
| Sep 30, 2021 | 413.00 Mn |