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Side-by-side financial comparison of Essex Property Trust (ESS) and ZILLOW GROUP, INC. (ZG). Click either name above to swap in a different company.
ZILLOW GROUP, INC. is the larger business by last-quarter revenue ($654.0M vs $479.6M, roughly 1.4× Essex Property Trust). Essex Property Trust runs the higher net margin — 17.9% vs 0.5%, a 17.4% gap on every dollar of revenue. On growth, ZILLOW GROUP, INC. posted the faster year-over-year revenue change (18.1% vs 5.5%). Over the past eight quarters, ZILLOW GROUP, INC.'s revenue compounded faster (11.2% CAGR vs 6.0%).
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
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.
ESS vs ZG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $479.6M | $654.0M |
| Net Profit | $85.7M | $3.0M |
| Gross Margin | 70.0% | 72.8% |
| Operating Margin | 31.7% | -1.7% |
| Net Margin | 17.9% | 0.5% |
| Revenue YoY | 5.5% | 18.1% |
| Net Profit YoY | -71.6% | 105.8% |
| EPS (diluted) | $1.24 | $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 | $479.6M | $654.0M | ||
| Q3 25 | $473.3M | $676.0M | ||
| Q2 25 | $469.8M | $655.0M | ||
| Q1 25 | $464.6M | $598.0M | ||
| Q4 24 | $454.5M | $554.0M | ||
| Q3 24 | $450.7M | $581.0M | ||
| Q2 24 | $442.4M | $572.0M | ||
| Q1 24 | $426.9M | $529.0M |
| Q4 25 | $85.7M | $3.0M | ||
| Q3 25 | $172.7M | $10.0M | ||
| Q2 25 | $231.5M | $2.0M | ||
| Q1 25 | $212.8M | $8.0M | ||
| Q4 24 | $301.7M | $-52.0M | ||
| Q3 24 | $125.5M | $-20.0M | ||
| Q2 24 | $99.0M | $-17.0M | ||
| Q1 24 | $285.1M | $-23.0M |
| Q4 25 | 70.0% | 72.8% | ||
| Q3 25 | 69.2% | 72.6% | ||
| Q2 25 | 70.7% | 74.7% | ||
| Q1 25 | 69.6% | 76.8% | ||
| Q4 24 | 70.0% | 75.8% | ||
| Q3 24 | 69.5% | 75.9% | ||
| Q2 24 | 70.8% | 77.3% | ||
| Q1 24 | 69.7% | 76.7% |
| Q4 25 | 31.7% | -1.7% | ||
| Q3 25 | 44.5% | -0.4% | ||
| Q2 25 | 59.5% | -1.7% | ||
| Q1 25 | 55.3% | -1.5% | ||
| Q4 24 | 67.0% | -12.5% | ||
| Q3 24 | 28.6% | -7.7% | ||
| Q2 24 | 31.1% | -6.6% | ||
| Q1 24 | 31.0% | -8.5% |
| Q4 25 | 17.9% | 0.5% | ||
| Q3 25 | 36.5% | 1.5% | ||
| Q2 25 | 49.3% | 0.3% | ||
| Q1 25 | 45.8% | 1.3% | ||
| Q4 24 | 66.4% | -9.4% | ||
| Q3 24 | 27.8% | -3.4% | ||
| Q2 24 | 22.4% | -3.0% | ||
| Q1 24 | 66.8% | -4.3% |
| Q4 25 | $1.24 | $0.01 | ||
| Q3 25 | $2.56 | $0.04 | ||
| Q2 25 | $3.44 | $0.01 | ||
| Q1 25 | $3.16 | $0.03 | ||
| Q4 24 | $4.00 | $-0.23 | ||
| Q3 24 | $1.84 | $-0.08 | ||
| Q2 24 | $1.45 | $-0.07 | ||
| Q1 24 | $4.25 | $-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 | $76.2M | $768.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.5B | $4.9B |
| Total Assets | $13.2B | $5.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $76.2M | $768.0M | ||
| Q3 25 | $66.0M | $874.0M | ||
| Q2 25 | $58.7M | $587.0M | ||
| Q1 25 | $98.7M | $914.0M | ||
| Q4 24 | $66.8M | $1.1B | ||
| Q3 24 | $71.3M | $1.1B | ||
| Q2 24 | $55.2M | $1.2B | ||
| Q1 24 | $499.0M | $1.4B |
| Q4 25 | — | — | ||
| Q3 25 | $6.4B | — | ||
| Q2 25 | $6.4B | — | ||
| Q1 25 | $6.8B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $6.4B | — | ||
| Q2 24 | $6.2B | — | ||
| Q1 24 | $6.6B | — |
| Q4 25 | $5.5B | $4.9B | ||
| Q3 25 | $5.6B | $5.0B | ||
| Q2 25 | $5.6B | $4.7B | ||
| Q1 25 | $5.6B | $4.8B | ||
| Q4 24 | $5.5B | $4.8B | ||
| Q3 24 | $5.4B | $4.7B | ||
| Q2 24 | $5.5B | $4.5B | ||
| Q1 24 | $5.5B | $4.7B |
| Q4 25 | $13.2B | $5.7B | ||
| Q3 25 | $13.2B | $5.7B | ||
| Q2 25 | $13.2B | $5.4B | ||
| Q1 25 | $13.2B | $5.7B | ||
| Q4 24 | $12.9B | $5.8B | ||
| Q3 24 | $12.6B | $6.2B | ||
| Q2 24 | $12.5B | $6.6B | ||
| Q1 24 | $12.9B | $6.8B |
| Q4 25 | — | — | ||
| Q3 25 | 1.15× | — | ||
| Q2 25 | 1.14× | — | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.18× | — | ||
| Q2 24 | 1.13× | — | ||
| Q1 24 | 1.19× | — |
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 | $1.1B | $72.0M |
| Free Cash FlowOCF − Capex | — | $44.0M |
| FCF MarginFCF / Revenue | — | 6.7% |
| Capex IntensityCapex / Revenue | — | 4.3% |
| Cash ConversionOCF / Net Profit | 12.53× | 24.00× |
| TTM Free Cash FlowTrailing 4 quarters | — | $235.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $72.0M | ||
| Q3 25 | $342.6M | $105.0M | ||
| Q2 25 | $216.1M | $87.0M | ||
| Q1 25 | $281.5M | $104.0M | ||
| Q4 24 | $1.1B | $122.0M | ||
| Q3 24 | $316.2M | $171.0M | ||
| Q2 24 | $218.9M | $55.0M | ||
| Q1 24 | $314.9M | $80.0M |
| Q4 25 | — | $44.0M | ||
| Q3 25 | — | $73.0M | ||
| Q2 25 | — | $50.0M | ||
| Q1 25 | — | $68.0M | ||
| Q4 24 | — | $88.0M | ||
| Q3 24 | — | $138.0M | ||
| Q2 24 | — | $18.0M | ||
| Q1 24 | — | $41.0M |
| Q4 25 | — | 6.7% | ||
| Q3 25 | — | 10.8% | ||
| Q2 25 | — | 7.6% | ||
| Q1 25 | — | 11.4% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | — | 23.8% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 7.8% |
| Q4 25 | — | 4.3% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | — | 5.6% | ||
| Q1 25 | — | 6.0% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | — | 6.5% | ||
| Q1 24 | — | 7.4% |
| Q4 25 | 12.53× | 24.00× | ||
| Q3 25 | 1.98× | 10.50× | ||
| Q2 25 | 0.93× | 43.50× | ||
| Q1 25 | 1.32× | 13.00× | ||
| Q4 24 | 3.54× | — | ||
| Q3 24 | 2.52× | — | ||
| Q2 24 | 2.21× | — | ||
| Q1 24 | 1.10× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESS
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% |
