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Zillow (ZG) Operating Expenses (2016 - 2026)

Zillow has reported Operating Expenses over the past 12 years, most recently at $487.0 million 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 was $487.0 million for Q4 2025 at Zillow, down from $494.0 million in the prior quarter.
  • Over five years, Operating Expenses peaked at $500.0 million in Q2 2025 and troughed at $402.0 million in Q2 2022.
  • The 5-year median for Operating Expenses is $457.5 million (2023), against an average of $452.4 million.
  • The largest YoY upside for Operating Expenses was 299.81% in 2021 against a maximum downside of 67.02% in 2021.
  • A 5-year view of Operating Expenses shows it stood at $408.0 million in 2021, then increased by 5.15% to $429.0 million in 2022, then rose by 8.16% to $464.0 million in 2023, then increased by 5.39% to $489.0 million in 2024, then fell by 0.41% to $487.0 million in 2025.
  • Per Business Quant, the three most recent readings for ZG's Operating Expenses are $487.0 million (Q4 2025), $494.0 million (Q3 2025), and $500.0 million (Q2 2025).