Zillow Group Inc Stock Research

Market Summary

USD43.73+1.48

Market Closed

3.50%

Z Stock Price

Z RSI Chart

Z Valuation

Market Cap

10.5B

Price/Earnings (Trailing)

-36.23

Price/Sales (Trailing)

0.85

EV/EBITDA

-25.69

Price/Free Cashflow

2.57

Z Price/Sales (Trailing)

Z Profitability

Operating Margin

15.09%

EBT Margin

-2.33%

Return on Equity

-6.31%

Return on Assets

-4.31%

Free Cashflow Yield

38.96%

Z Fundamentals

Z Revenue

Revenue (TTM)

12.3B

Revenue Y/Y

-12.18%

Revenue Q/Q

-52.13%

Z Earnings

Earnings (TTM)

-289.8M

Earnings Y/Y

83.89%

Earnings Q/Q

-762.5%

Price Action

52 Week Range

26.1465.88

(Low)(High)

Last 7 days

4.6%

Last 30 days

34.6%

Last 90 days

41.7%

Trailing 12 Months

-8.3%

Z Financial Health

Current Ratio

12.09

Z Investor Care

Buy Backs (1Y)

5.51%

Diluted EPS (TTM)

-1.22

Peers (Alternatives to Zillow Group)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
AAPL	2.3T	394.3B	10.71%	-9.33%	23	5.82	7.79%	5.41%
MSFT	1.8T	204.1B	4.66%	-15.63%	27.38	9.05	10.38%	-5.25%
GOOG	1.3T	275.7B	12.77%	-23.27%	19.2	4.66	15.26%	-5.14%
AMZN	1.0T	502.2B	19.48%	-28.55%	89.36	2.01	9.66%	-56.89%
MID-CAP
JBLU	2.7B	8.6B	30.88%	-38.19%	-5.25	0.32	76.30%	-20.89%
PLAY	2.0B	1.7B	17.88%	18.35%	16.04	1.14	61.79%	371.82%
SMALL-CAP
TLRY	1.8B	613.6M	16.73%	-44.78%	-3.63	3.01	37.73%	-7.19%
CGC	1.3B	-	32.06%	-61.83%	-0.44	1.95	-4.11%	-144.36%
MFA	1.2B	445.4M	14.33%	-27.69%	-6.04	2.63	40.53%	-158.74%
NKLA	1.2B	59.0M	5.86%	-66.97%	-1.6	19.51	298.08%	-7.18%
NYMT	1.1B	260.6M	12.55%	-6.73%	-5.06	4.37	29.80%	-194.70%
BYND	1.0B	439.7M	36.86%	-73.10%	-2.72	2.35	-5.64%	-199.38%
GPRO	934.9M	1.2B	22.45%	-29.16%	11.92	0.8	3.19%	-78.40%
INO	413.9M	11.5M	17.73%	-57.87%	-1.25	35.93	52.20%	-50.33%

Financials for Zillow Group

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Revenue	-0.5%	12,299,376,000	12,366,376,000	12,667,376,000	8,147,376,000	3,866,952,000
Gross Profit	-3.8%	1,856,199,000	1,930,199,000	2,025,199,000	1,753,199,000	1,959,214,000
S&GA Expenses	-3.2%	1,198,235,000	1,238,235,000	1,285,235,000	1,076,235,000	797,114,000
R&D Expenses	8.4%	530,396,000	489,396,000	499,396,000	474,396,000	447,410,000
EBITDA	-71.2%	31,208,000	108,454,000	-228,404,000.00	-204,824,000.00	60,450,000
EBITDA Margin	-71.1%	0.00	0.01	-0.02	-0.03	0.01
Earnings Before Taxes	-10.4%	-649,514,000.00	-588,514,000.00	-579,514,000.00	-526,514,000.00	131,637,000
EBT Margin	-27.8%	-0.02	-0.02	-0.05	-0.06	-0.04
Interest Expenses	-11.4%	154,910,000	174,910,000	204,910,000	191,910,000	148,575,000
Net Income	48.8%	-289,777,000.00	-565,777,000.00	-563,777,000.00	-527,777,000.00	-220,964,000.00
Net Income Margin	48.4%	-0.02	-0.05	-0.05	-0.06	-0.04
Free Cahsflow	262.9%	4,090,442,000	1,127,138,000	-120,514,000.00	-3,249,999,000.00	-3,345,243,000.00

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Assets	-1.0%	6,718	6,783	7,820	10,695	10,838
Current Assets	-1.9%	3,771	3,844	4,790	7,680	7,831
Cash Equivalents	-9.5%	1,973	2,181	2,594	2,315	2,526
Net PPE	6.1%	261	246	234	215	202
Goodwill	0%	2,374	2,374	2,374	2,374	389
Liabilities	0.3%	2,123	2,116	3,018	5,354	5,067
Current Liabilities	2.6%	312	304	1,202	3,882	3,110
LT Debt, Non Current	-25.3%	1,319	1,766	-	-	-
Shareholder's Equity	-1.5%	4,595	4,667	4,802	5,341	5,771
Retained Earnings	-3.6%	-1,540.00	-1,487.00	-1,495.00	-1,667.00	-1,405.82
Additional Paid-In Capital	-0.2%	6,154	6,167	6,298	7,001	7,177
Accumulated Depreciation	6.2%	138	130	123	119	115
Shares Outstanding	-1.6%	240	244	249	254	-

* denotes actual numbers (not divided by Millions)

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Cashflow From Operations	240.2%	4,205	1,236	-25.69	-3,176.69	-3,287.96
Share Based Compensation	19.6%	422	353	339	312	283
Cashflow From Investing	42.5%	-655.72	-1,140.72	-378.72	1,088	266
Cashflow From Financing	-132.1%	-4,100.37	-1,766.37	-431.37	3,148	3,599
Buy Backs	19.6%	1,075	899	650	302	0

* denotes actual numbers (not divided by Millions)

Risks for Z

What is the probability of a big loss on Z?

97.7%

Probability that Zillow Group stock will be more than 20% underwater in next one year

89.2%

Probability that Zillow Group stock will be more than 30% underwater in next one year.

81.9%

Probability that Zillow Group stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does Z drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Zillow Group was unfortunately bought at previous high price.

Drawdowns

Returns for Z

Cumulative Returns on Z

12.2%

7-Year Cumulative Returns

-1.0%

5-Year Cumulative Returns

-2.5%

3-Year Cumulative Returns

What are the long-term rolling returns for Z?

FIve years rolling returns for Zillow Group.

Annualized Returns

Which funds bought or sold Z recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2022-11-07	HUNTINGTON NATIONAL BANK	unchanged	-	-	1,000	-%
2022-05-16	Parametric Portfolio Associates LLC	added	13.82	-402,000	3,017,000	-%
2022-05-16	Parametric Portfolio Associates LLC	reduced	-2.69	-4,070,000	12,284,000	0.01%
2022-05-16	Amalgamated Financial Corp.	new	-	323,000	323,000	-%
2022-05-16	Amalgamated Financial Corp.	new	-	942,000	942,000	0.01%
2022-05-13	O'Shares Investment Advisers, LLC	sold off	-100	-6,938,000	-	-%
2022-05-11	Astrantus Ltd	new	-	370,000	370,000	0.62%
2022-05-11	NN Investment Partners Holdings N.V.	new	-	1,745,000	1,745,000	0.01%
2022-05-06	IndexIQ Advisors LLC	added	0.14	-10,000	35,000	-%
2022-05-06	BIVIN & ASSOCIATES, INC.	sold off	-100	-13,000	-	-%

Latest Funds Activity

Are funds buying Z calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own Z

No. of Funds

Zillow Group News

Schedule 13G FIlings of Zillow Group

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Jan 19, 2023	norges bank	5.17%	3,010,843	SC 13G
Feb 14, 2022	bamco inc /ny/	0%	0	SC 13G/A
Feb 11, 2022	independent franchise partners llp	5.2%	9,746,306	SC 13G
Feb 11, 2022	morgan stanley	4.6%	2,818,030	SC 13G/A
Feb 03, 2022	baillie gifford & co	3.43%	6,416,289	SC 13G/A
Jan 27, 2022	baillie gifford & co	5.50%	10,303,636	SC 13G/A
Dec 06, 2021	baillie gifford & co	0.59%	363,319	SC 13G/A
Nov 10, 2021	vanguard group inc	14.30%	8,773,777	SC 13G/A
Nov 10, 2021	vanguard group inc	11.37%	21,288,700	SC 13G/A
Feb 14, 2020	price t rowe associates inc /md/	0.3%	197,541	SC 13G/A

Z Fair Value

Recent SEC filings of Zillow Group

View All Filings

Date Filed	Form Type	Document
Jan 19, 2023	SC 13G	Major Ownership Report
Jan 12, 2023	5	Insider Trading
Dec 05, 2022	4	Insider Trading
Dec 01, 2022	4	Insider Trading
Dec 01, 2022	4	Insider Trading
Nov 23, 2022	4	Insider Trading
Nov 23, 2022	4	Insider Trading
Nov 18, 2022	4	Insider Trading
Nov 18, 2022	4	Insider Trading
Nov 18, 2022	4	Insider Trading

About Zillow Group

Richard N. Barton

www.zillowgroup.com

8000

Zillow Group, Inc., a digital real estate company, operates real estate brands on mobile applications and Websites in the United States. The company operates through three segments: Homes; Internet, Media & Technology; and Mortgages. The Homes segment is involved in resale of homes; and title and escrow services to home buyers and sellers, including title search procedures for title insurance policies, escrow, and other closing services. The IMT segment offers premier agent, rentals, and new construction marketplaces, as well as dotloop, display, and other advertising, as well as business software solutions. The Mortgage segment provides home loans; and marketing products including custom quote and connect services. Its portfolio of brands includes Zillow Rentals, Trulia, StreetEasy, Zillow Closing Services, HotPads, and Out East. The company was incorporated in 2004 and is headquartered in Seattle, Washington.

Z Income Statement

2022-09-30

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 483	$ 550	$ 1,523	$ 1,597
Cost of revenue	89	82	278	228
Gross profit	394	468	1,245	1,369
Operating expenses:
Sales and marketing	165	205	502	532
Technology and development	142	101	369	319
General and administrative	138	104	370	303
Restructuring costs	0	0	14	0
Acquisition-related costs	0	3	0	8
Total operating expenses	445	413	1,255	1,162
Income (loss) from continuing operations	(51)	55	(10)	207
Loss on extinguishment of debt	0	(15)	0	(17)
Other income, net	12	2	19	5
Interest expense	(9)	(29)	(26)	(99)
Income (loss) from continuing operations before income taxes	(48)	13	(17)	96
Income tax benefit (expense)	(3)	5	1	0
Net income (loss) from continuing operations	(51)	18	(16)	96
Net loss from discontinued operations, net of income taxes	(2)	(347)	(13)	(363)
Net loss	$ (53)	$ (329)	$ (29)	$ (267)
Net income (loss) from continuing operations per share:
Basic (USD per share)	$ (0.21)	$ 0.07	$ (0.07)	$ 0.39
Diluted (usd per share)	(0.21)	0.07	(0.07)	0.37
Net loss per share:
Basic (usd per share)	(0.22)	(1.29)	(0.12)	(1.07)
Diluted (usd per share)	$ (0.22)	$ (1.24)	$ (0.12)	$ (1.02)
Weighted-average shares outstanding:
Basic (in shares)	240,080	254,074	244,157	248,564
Diluted (in shares)	240,080	265,112	244,157	262,043

Z Balance Sheet

2022-09-30

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,973	$ 2,315
Short-term investments	1,516	514
Accounts receivable, net of allowance for doubtful accounts of $4 and $4, respectively	78	77
Mortgage loans held for sale	49	107
Prepaid expenses and other current assets	153	140
Restricted cash	2	1
Current assets of discontinued operations	0	4,526
Total current assets	3,771	7,680
Contract cost assets	25	35
Property and equipment, net	261	215
Right of use assets	127	130
Goodwill	2,374	2,374
Intangible assets, net	149	176
Other assets	11	3
Noncurrent assets of discontinued operations	0	82
Total assets	6,718	10,695
Current liabilities:
Accounts payable	19	11
Accrued expenses and other current liabilities	112	89
Accrued compensation and benefits	56	61
Borrowings under credit facilities	45	113
Deferred revenue	50	51
Lease liabilities, current portion	30	24
Current liabilities of discontinued operations	0	3,533
Total current liabilities	312	3,882
Lease liabilities, net of current portion	141	148
Convertible senior notes	1,659	1,319
Other long-term liabilities	11	5
Total liabilities	2,123	5,354
Commitments and contingencies (Note 16)
Shareholders’ equity:
Preferred stock, $0.0001 par value; authorized — 30,000,000 shares; no shares issued and outstanding	0	0
Additional paid-in capital	6,154	7,001
Accumulated other comprehensive income (loss)	(19)	7
Accumulated deficit	(1,540)	(1,667)
Total shareholders’ equity	4,595	5,341
Total liabilities and shareholders’ equity	6,718	10,695
Class A common stock
Shareholders’ equity:
Common stock/capital stock	0	0
Class B Common Stock
Shareholders’ equity:
Common stock/capital stock	0	0
Class C capital stock
Shareholders’ equity:
Common stock/capital stock	$ 0	$ 0