Zillow Group (BSP:Z2LL35) Operating Income: R$62 Mil (TTM As of Mar. 2026)


BSP:Z2LL35 Zillow Group Inc BSP:Z2LL35
64 GF Score
Price R$62.46
GF Value R$139.59
! 3 Warning Signs
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What is Zillow Group Operating Income?

Zillow Group BSP:Z2LL35 64 Operating Income is R$62 Mil as of Mar. 2026. GuruFocus rates BSP:Z2LL35 with a GF Score™ of 64/100 and a GF Value™ of R$139.59. The stock has 3 warning signs investors should review.

Zillow Group's Operating Income for the three months ended in Mar. 2026 was R$188 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was R$62 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Zillow Group's Operating Income for the three months ended in Mar. 2026 was R$188 Mil. Zillow Group's Revenue for the three months ended in Mar. 2026 was R$3,703 Mil. Therefore, Zillow Group's Operating Margin % for the quarter that ended in Mar. 2026 was 5.08%.

Zillow Group's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Zillow Group's annualized ROC % for the quarter that ended in Mar. 2026 was 3.19%. Zillow Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 33.78%.


Zillow Group  (BSP:Z2LL35) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Zillow Group's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=753.064 * ( 1 - 4.17% )/( (23203.092 + 22027.075)/ 2 )
=721.6612312/22615.0835
=3.19 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=31015.654 - 747.431 - ( 7065.131 - max(0, 3704.42 - 11576.995+7065.131))
=23203.092

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=27329.89 - 1208.038 - ( 4094.777 - max(0, 3786.23 - 8675.906+4094.777))
=22027.075

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Zillow Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1087.756/( ( (474.864 + max(2869.699, 0)) + (474.848 + max(2620.029, 0)) )/ 2 )
=1087.756/( ( 3344.563 + 3094.877 )/ 2 )
=1087.756/3219.72
=33.78 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(812.899 + 0 + 3698.965) - (747.431 + 376.443 + 518.291)
=2869.699

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(800.129 + 0 + 3781) - (1208.038 + 386.99 + 366.072)
=2620.029

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Zillow Group's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=188.266/3702.557
=5.08 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Zillow Group Operating Income Related Terms


Zillow Group Operating Income Historical Data

* Premium members only.

The historical data trend for Zillow Group's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Zillow Group Operating Income Chart

Zillow Group Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,464.62 -361.93 -1,210.25 -1,159.19 -174.58

Zillow Group Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -51.82 -61.00 -5.36 -60.01 188.27
BSP:Z2LL35
64GF Score
Zillow Group Inc BSP:Z2LL35
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Zillow Group Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was R$62 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of R$62 Mil mean?
Zillow Group (BSP:Z2LL35) has a Operating Income of R$62 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Zillow Group and its competitors.
Is Zillow Group's Operating Income too high?
Zillow Group's current Operating Income is R$62 Mil. Overall, Zillow Group has a GF Score™ of 64/100, reflecting its overall financial health beyond just this single metric.
How does Zillow Group's Operating Income compare to SNAP and BILI?
Zillow Group's Operating Income of R$62 Mil can be compared against companies in the Interactive Media industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for an Interactive Media company?
A good Operating Income depends on the Interactive Media industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Zillow Group and its competitors. Zillow Group's current Operating Income is R$62 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zillow Group stock overvalued right now?
Zillow Group (BSP:Z2LL35) has a current Operating Income of R$62 Mil. The stock's GF Value™ is R$139.59, compared to a current price of R$62.46 — trading 55.3% below its estimated fair value. The current Operating Income is R$62 Mil. Zillow Group's overall GF Score™ is 64/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Zillow Group (BSP:Z2LL35), the current Operating Income is R$62 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Zillow Group (BSP:Z2LL35) Overvalued in 2026?

Based on GuruFocus' analysis, Zillow Group stock appears to be undervalued. The current stock price of R$62.46 is trading 55.3% below its estimated GF Value™ of R$139.59.

Key valuation signals for BSP:Z2LL35:

  • Operating Income: R$62 Mil
  • GF Value™: R$139.59 vs. price of R$62.46 (55.3% below fair value)
  • GF Score™: 64/100 with 3 warning signs

No single metric tells the full story. See the BSP:Z2LL35 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Zillow Group Business Description

Address 1301 Second Avenue, Floor 36, Seattle, WA, USA, 98101
Zillow Group Inc is a real estate technology company offering a digital platform that connects real estate customers with sellers, agents, loan officers, and other real estate-related professionals. With its tools and resources, Zillow helps real estate professionals grow their businesses, and for renters and housing providers, it offers a marketplace along with a set of end-to-end products and services to streamline applications, leases, payments, and more. The group operates various brands such as Zillow, Zillow Home Loans, Zillow Rentals, Zillow New Construction, Trulia, StreetEasy, Out East, HotPads, Follow Up Boss, ShowingTime, dotloop, and Zillow Closing. Its ecosystem spans the entire home journey from shopping to renting, buying, selling, and financing real estate.
64GF Score

Get the complete analysis for BSP:Z2LL35

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$62.46
Price
R$139.59
GF Value