Zillow Group, Inc. Class A (ZG) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 198M | 72M | 105M | 87M | 104M | 122M | 171M | 55M | 80M | 86M | 75M | 100M | 93M | 84M | 165M | 863M | 3.39B | -215.37M | -2.8B | -399M |
| Operating CF Margin % | 27.97% | 11.01% | 15.53% | 13.28% | 17.39% | 22.02% | 29.43% | 9.62% | 15.12% | 18.14% | 15.12% | 19.76% | 19.83% | 19.31% | 34.16% | 171.23% | 632.84% | -40.26% | -509.79% | -30.46% |
| Operating CF Growth % | 90.38% | -40.98% | -38.6% | 58.18% | 30% | 41.86% | 128% | -45% | -13.98% | 2.38% | -54.55% | -88.41% | -97.26% | 139% | 105.88% | 316.29% | 1307.47% | 33.93% | -4972.99% | -202.14% |
| Net Income | 46M | 3M | 10M | 2M | 8M | -52M | -20M | -17M | -23M | -73M | -28M | -35M | -22M | -72M | -53M | 8M | 16M | -261.21M | -328.17M | 10M |
| Depreciation & Amortization | 73M | 67M | 69M | 69M | 67M | 64M | 65M | 66M | 64M | 75M | 55M | 51M | 46M | 42M | 40M | 49M | 49M | 46.75M | 34.95M | 35M |
| Stock-Based Compensation | 0 | 95M | 99M | 99M | 97M | 119M | 108M | 113M | 108M | 109M | 109M | 130M | 103M | 110M | 148M | 102M | 91M | 80.21M | 79.41M | 88M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -242M | 0 | -20M | 0 | 0 | 0 | 0 | 0 | 454K | -3.2M | 3M |
| Other Non-Cash Items | 63M | 14M | 5M | 1M | 0 | 2M | 6M | -1M | 1M | 247M | -1M | 10M | 5M | 15M | 7M | 14M | 47M | 204.75M | 357.21M | 35M |
| Working Capital Changes | 16M | -107M | -78M | -84M | -68M | -11M | 12M | -106M | -70M | -30M | -60M | -36M | -39M | -11M | 23M | 690M | 3.19B | -286.33M | -2.94B | -570M |
| Change in Receivables | -4M | 8M | -6M | -36M | -11M | 13M | -2M | -15M | -4M | 18M | -7M | -16M | -3M | 6M | -5M | 25M | 56M | 6.31M | -55.81M | -20M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 23M | 467M | 3.41B | -256.63M | -2.89B | -697M |
| Change in Payables | 32M | -2M | -18M | 21M | 5M | -23M | 14M | 5M | 6M | -1M | 7M | 0 | 0 | 2M | 2M | -7M | 6M | -13.19M | 15.21M | 4M |
| Cash from Investing | 376M | -50M | 19M | 77M | -52M | 274M | 328M | -3M | -204M | -314M | 255M | 181M | -97M | -410M | -189M | -371M | -563M | 467.71M | -674.44M | 391M |
| Capital Expenditures | -44M | -28M | -32M | -37M | -36M | -34M | -33M | -44M | -46M | -40M | -35M | -44M | -31M | -28M | -33M | -27M | -33M | -27.86M | -35.21M | -13M |
| CapEx % of Revenue | 6.21% | 4.28% | 4.73% | 5.65% | 6.02% | 6.14% | 5.68% | 7.69% | 8.7% | 8.44% | 7.06% | 8.7% | 6.61% | 6.44% | 6.83% | 5.36% | 6.16% | 5.21% | 6.4% | 0.99% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | -7M | 0 | 0 | 0 | -399M | 0 | 9M | 0 | -4M | 162M | 0 | 0 | -579K | 13.9M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | -11M | -8M | -7M | -108M | -7M | -7M | 0 | 0 | 0 | -40M | -9M | -9M | -8M | -162M | -6M | -5M | -6.79M | -510.64M | -6M |
| Cash from Financing | -664M | -128M | 163M | -490M | -219M | -386M | -607M | -311M | 71M | -126M | -49M | -109M | -68M | -181M | -184M | -995M | -2.98B | 60M | 2.15B | 340M |
| Debt Issued (Net) | -29M | 92M | 42M | -362M | 28M | -502M | -642M | -30M | 30M | -54M | 25M | 24M | 5M | -9M | -10M | -752M | -2.67B | 333M | 2.13B | 325M |
| Equity Issued (Net) | -608M | -220M | 83M | -150M | -250M | 116M | 35M | -281M | -9M | -72M | -100M | -150M | -86M | -174M | -176M | -249M | -348M | -273M | 21.86M | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -626M | -232M | -38M | -150M | -250M | 0 | 0 | -292M | -9M | -88M | -100M | -150M | -86M | -174M | -176M | -249M | -348M | -302M | 0 | 0 |
| Other Financing | -27M | 0 | 38M | 22M | 3M | 0 | 0 | 0 | 50M | 0 | 26M | 17M | 13M | 2M | 2M | 6M | 36M | 0 | -470K | 15M |
| Net Change in Cash | -90M | -106M | 287M | -326M | -167M | 10M | -108M | -259M | -53M | -354M | 281M | 172M | -72M | -507M | -208M | -503M | -152M | 311.76M | -1.33B | 332M |
| Free Cash Flow | 164M | 51M | 73M | 43M | 68M | 81M | 131M | 11M | 34M | 46M | 34M | 56M | 53M | 48M | 132M | 830M | 3.35B | -250.02M | -2.84B | -418M |
| FCF Margin % | 23.16% | 7.8% | 10.8% | 6.56% | 11.37% | 14.62% | 22.55% | 1.92% | 6.43% | 9.7% | 6.85% | 11.07% | 11.3% | 11.03% | 27.33% | 164.68% | 625.75% | -46.73% | -516.19% | -31.91% |
| FCF Growth % | 141.18% | -37.04% | -44.27% | 290.91% | 100% | 76.09% | 285.29% | -80.36% | -35.85% | -4.17% | -74.24% | -93.25% | -98.42% | 119.2% | 104.65% | 298.56% | 1390.67% | 27.49% | -8461.63% | -215.46% |
| FCF per Share | 0.68 | 0.20 | 0.28 | 0.17 | 0.27 | 0.34 | 0.56 | 0.05 | 0.14 | 0.20 | 0.15 | 0.24 | 0.23 | 0.20 | 0.55 | 3.39 | 13.31 | -0.98 | -10.71 | -1.60 |
| FCF Conversion (FCF/Net Income) | 4.30x | 24.00x | 10.50x | 43.50x | 13.00x | -2.35x | -8.55x | -3.24x | -3.48x | -1.18x | -2.68x | -2.86x | -4.23x | -1.17x | -3.11x | 107.88x | 212.00x | 0.83x | 8.52x | -41.39x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8M | 7M | 10M | 25M | 50.74M | 0 | 14M |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1M | 1M | 0 | 0 | 0 | 0 | 0 |