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Side-by-side financial comparison of AvalonBay Communities (AVB) and ZILLOW GROUP, INC. (ZG). Click either name above to swap in a different company.
AvalonBay Communities is the larger business by last-quarter revenue ($767.9M vs $654.0M, roughly 1.2× ZILLOW GROUP, INC.). AvalonBay Communities runs the higher net margin — 9040.6% vs 0.5%, a 9040.1% gap on every dollar of revenue. On growth, ZILLOW GROUP, INC. posted the faster year-over-year revenue change (18.1% vs 3.7%). AvalonBay Communities produced more free cash flow last quarter ($1.4B vs $44.0M). Over the past eight quarters, ZILLOW GROUP, INC.'s revenue compounded faster (11.2% CAGR vs 3.8%).
AvalonBay Communities, Inc. is a publicly traded real estate investment trust that invests in apartments.
Zillow Group, Inc., or simply Zillow, is an American tech real-estate marketplace company that was founded in 2006 by co-executive chairmen Rich Barton and Lloyd Frink, former Microsoft executives and founders of Microsoft spin-off Expedia; Spencer Rascoff, a co-founder of Hotwire.com; David Beitel, Zillow's current chief technology officer; and Kristin Acker, Zillow's current technology leadership advisor.
AVB vs ZG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $767.9M | $654.0M |
| Net Profit | $166.0M | $3.0M |
| Gross Margin | — | 72.8% |
| Operating Margin | 64.2% | -1.7% |
| Net Margin | 9040.6% | 0.5% |
| Revenue YoY | 3.7% | 18.1% |
| Net Profit YoY | -41.2% | 105.8% |
| EPS (diluted) | $1.18 | $0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $767.9M | $654.0M | ||
| Q3 25 | $766.8M | $676.0M | ||
| Q2 25 | $760.2M | $655.0M | ||
| Q1 25 | $745.9M | $598.0M | ||
| Q4 24 | $740.5M | $554.0M | ||
| Q3 24 | $734.3M | $581.0M | ||
| Q2 24 | $726.0M | $572.0M | ||
| Q1 24 | $712.9M | $529.0M |
| Q4 25 | $166.0M | $3.0M | ||
| Q3 25 | $381.3M | $10.0M | ||
| Q2 25 | $268.7M | $2.0M | ||
| Q1 25 | $236.6M | $8.0M | ||
| Q4 24 | $282.1M | $-52.0M | ||
| Q3 24 | $372.5M | $-20.0M | ||
| Q2 24 | $253.9M | $-17.0M | ||
| Q1 24 | $173.4M | $-23.0M |
| Q4 25 | — | 72.8% | ||
| Q3 25 | — | 72.6% | ||
| Q2 25 | — | 74.7% | ||
| Q1 25 | — | 76.8% | ||
| Q4 24 | — | 75.8% | ||
| Q3 24 | — | 75.9% | ||
| Q2 24 | — | 77.3% | ||
| Q1 24 | — | 76.7% |
| Q4 25 | 64.2% | -1.7% | ||
| Q3 25 | 65.7% | -0.4% | ||
| Q2 25 | 67.6% | -1.7% | ||
| Q1 25 | 68.5% | -1.5% | ||
| Q4 24 | 63.1% | -12.5% | ||
| Q3 24 | 65.4% | -7.7% | ||
| Q2 24 | 66.6% | -6.6% | ||
| Q1 24 | 67.2% | -8.5% |
| Q4 25 | 9040.6% | 0.5% | ||
| Q3 25 | 49.7% | 1.5% | ||
| Q2 25 | 35.3% | 0.3% | ||
| Q1 25 | 31.7% | 1.3% | ||
| Q4 24 | 38.1% | -9.4% | ||
| Q3 24 | 50.7% | -3.4% | ||
| Q2 24 | 35.0% | -3.0% | ||
| Q1 24 | 24.3% | -4.3% |
| Q4 25 | $1.18 | $0.01 | ||
| Q3 25 | $2.68 | $0.04 | ||
| Q2 25 | $1.88 | $0.01 | ||
| Q1 25 | $1.66 | $0.03 | ||
| Q4 24 | $1.99 | $-0.23 | ||
| Q3 24 | $2.61 | $-0.08 | ||
| Q2 24 | $1.78 | $-0.07 | ||
| Q1 24 | $1.22 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $187.2M | $768.0M |
| Total DebtLower is stronger | $9.3B | — |
| Stockholders' EquityBook value | $11.6B | $4.9B |
| Total Assets | $22.2B | $5.7B |
| Debt / EquityLower = less leverage | 0.80× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $768.0M | ||
| Q3 25 | $123.3M | $874.0M | ||
| Q2 25 | $102.8M | $587.0M | ||
| Q1 25 | $53.3M | $914.0M | ||
| Q4 24 | $108.6M | $1.1B | ||
| Q3 24 | $552.4M | $1.1B | ||
| Q2 24 | $545.8M | $1.2B | ||
| Q1 24 | $287.9M | $1.4B |
| Q4 25 | $9.3B | — | ||
| Q3 25 | $8.7B | — | ||
| Q2 25 | $8.7B | — | ||
| Q1 25 | $8.3B | — | ||
| Q4 24 | $8.1B | — | ||
| Q3 24 | $8.4B | — | ||
| Q2 24 | $8.4B | — | ||
| Q1 24 | $8.0B | — |
| Q4 25 | $11.6B | $4.9B | ||
| Q3 25 | $11.9B | $5.0B | ||
| Q2 25 | $11.9B | $4.7B | ||
| Q1 25 | $11.9B | $4.8B | ||
| Q4 24 | $11.9B | $4.8B | ||
| Q3 24 | $11.9B | $4.7B | ||
| Q2 24 | $11.7B | $4.5B | ||
| Q1 24 | $11.7B | $4.7B |
| Q4 25 | $22.2B | $5.7B | ||
| Q3 25 | $21.9B | $5.7B | ||
| Q2 25 | $21.8B | $5.4B | ||
| Q1 25 | $21.2B | $5.7B | ||
| Q4 24 | $21.0B | $5.8B | ||
| Q3 24 | $21.3B | $6.2B | ||
| Q2 24 | $21.0B | $6.6B | ||
| Q1 24 | $20.6B | $6.8B |
| Q4 25 | 0.80× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 0.68× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.68× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.7B | $72.0M |
| Free Cash FlowOCF − Capex | $1.4B | $44.0M |
| FCF MarginFCF / Revenue | 183.5% | 6.7% |
| Capex IntensityCapex / Revenue | 34.1% | 4.3% |
| Cash ConversionOCF / Net Profit | 10.07× | 24.00× |
| TTM Free Cash FlowTrailing 4 quarters | $2.5B | $235.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $72.0M | ||
| Q3 25 | $477.0M | $105.0M | ||
| Q2 25 | $377.8M | $87.0M | ||
| Q1 25 | $415.9M | $104.0M | ||
| Q4 24 | $1.6B | $122.0M | ||
| Q3 24 | $486.2M | $171.0M | ||
| Q2 24 | $380.0M | $55.0M | ||
| Q1 24 | $412.9M | $80.0M |
| Q4 25 | $1.4B | $44.0M | ||
| Q3 25 | $402.2M | $73.0M | ||
| Q2 25 | $317.1M | $50.0M | ||
| Q1 25 | $367.5M | $68.0M | ||
| Q4 24 | $1.4B | $88.0M | ||
| Q3 24 | $434.2M | $138.0M | ||
| Q2 24 | $333.0M | $18.0M | ||
| Q1 24 | $375.4M | $41.0M |
| Q4 25 | 183.5% | 6.7% | ||
| Q3 25 | 52.5% | 10.8% | ||
| Q2 25 | 41.7% | 7.6% | ||
| Q1 25 | 49.3% | 11.4% | ||
| Q4 24 | 191.0% | 15.9% | ||
| Q3 24 | 59.1% | 23.8% | ||
| Q2 24 | 45.9% | 3.1% | ||
| Q1 24 | 52.7% | 7.8% |
| Q4 25 | 34.1% | 4.3% | ||
| Q3 25 | 9.8% | 4.7% | ||
| Q2 25 | 8.0% | 5.6% | ||
| Q1 25 | 6.5% | 6.0% | ||
| Q4 24 | 26.1% | 6.1% | ||
| Q3 24 | 7.1% | 5.7% | ||
| Q2 24 | 6.5% | 6.5% | ||
| Q1 24 | 5.3% | 7.4% |
| Q4 25 | 10.07× | 24.00× | ||
| Q3 25 | 1.25× | 10.50× | ||
| Q2 25 | 1.41× | 43.50× | ||
| Q1 25 | 1.76× | 13.00× | ||
| Q4 24 | 5.70× | — | ||
| Q3 24 | 1.31× | — | ||
| Q2 24 | 1.50× | — | ||
| Q1 24 | 2.38× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVB
Segment breakdown not available.
ZG
| Residential Revenue | $418.0M | 64% |
| Rental Revenue | $168.0M | 26% |
| Mortgage Revenue | $57.0M | 9% |
| Display Advertising And Other Revenue | $11.0M | 2% |
