Zillow Group, Inc. (ZG) Gross Margin (2014 - 2026)

Zillow has disclosed Gross Margin across 13 years of filings, most recently posting 73.31% for Q1 2026.

• In Q1 2026, Gross Margin fell 345.0% year-over-year to 73.31%; the TTM figure through Mar 2026 stood at 73.34% (down 310.0% YoY), while the FY2025 annual figure was 74.14%, down 229.0% from the prior year.
• Gross Margin grew to 73.31% in Q1 2026, from 72.78% in the prior quarter.
• Over the last five years, Gross Margin for ZG reached as high as 82.84% in Q1 2022 and fell as low as 72.63% in Q3 2025.
• The 5-year median for Gross Margin is 76.76% (2025), against an average of 77.29%.
• Annual changes were most pronounced in 2022 — Gross Margin soared 4121 bps — and 2023, when it plunged 380 bps.
• A 5-year view of Gross Margin shows it stood at 79.54% in 2022, then decreased by 5 bps to 75.74% in 2023, then grew by 0 bps to 75.81% in 2024, then fell by 4 bps to 72.78% in 2025, then climbed by 1 bps to 73.31% in 2026.
• According to Business Quant data, Gross Margin over the past three periods registered 73.31%, 72.78%, and 72.63% for Q1 2026, Q4 2025, and Q3 2025 respectively.