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Side-by-side financial comparison of Gaming & Leisure Properties, Inc. (GLPI) 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 $420.0M, roughly 1.6× Gaming & Leisure Properties, Inc.). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs 0.5%, a 56.5% gap on every dollar of revenue. On growth, ZILLOW GROUP, INC. posted the faster year-over-year revenue change (18.1% vs 6.3%). Over the past eight quarters, ZILLOW GROUP, INC.'s revenue compounded faster (11.2% CAGR vs 5.0%).
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
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.
GLPI vs ZG — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $420.0M | $654.0M |
| Net Profit | $239.4M | $3.0M |
| Gross Margin | — | 72.8% |
| Operating Margin | 79.4% | -1.7% |
| Net Margin | 57.0% | 0.5% |
| Revenue YoY | 6.3% | 18.1% |
| Net Profit YoY | 40.5% | 105.8% |
| EPS (diluted) | — | $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.
| Q1 26 | $420.0M | — | ||
| Q4 25 | $407.0M | $654.0M | ||
| Q3 25 | $397.6M | $676.0M | ||
| Q2 25 | $394.9M | $655.0M | ||
| Q1 25 | $395.2M | $598.0M | ||
| Q4 24 | $389.6M | $554.0M | ||
| Q3 24 | $385.3M | $581.0M | ||
| Q2 24 | $380.6M | $572.0M |
| Q1 26 | $239.4M | — | ||
| Q4 25 | $275.4M | $3.0M | ||
| Q3 25 | $241.2M | $10.0M | ||
| Q2 25 | $151.4M | $2.0M | ||
| Q1 25 | $165.2M | $8.0M | ||
| Q4 24 | $223.6M | $-52.0M | ||
| Q3 24 | $184.7M | $-20.0M | ||
| Q2 24 | $208.3M | $-17.0M |
| Q1 26 | — | — | ||
| 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 26 | 79.4% | — | ||
| Q4 25 | 89.3% | -1.7% | ||
| Q3 25 | 84.8% | -0.4% | ||
| Q2 25 | 61.3% | -1.7% | ||
| Q1 25 | 65.5% | -1.5% | ||
| Q4 24 | 79.1% | -12.5% | ||
| Q3 24 | 70.4% | -7.7% | ||
| Q2 24 | 77.1% | -6.6% |
| Q1 26 | 57.0% | — | ||
| Q4 25 | 67.6% | 0.5% | ||
| Q3 25 | 60.7% | 1.5% | ||
| Q2 25 | 38.4% | 0.3% | ||
| Q1 25 | 41.8% | 1.3% | ||
| Q4 24 | 57.4% | -9.4% | ||
| Q3 24 | 47.9% | -3.4% | ||
| Q2 24 | 54.7% | -3.0% |
| Q1 26 | — | — | ||
| Q4 25 | $0.96 | $0.01 | ||
| Q3 25 | $0.85 | $0.04 | ||
| Q2 25 | $0.54 | $0.01 | ||
| Q1 25 | $0.60 | $0.03 | ||
| Q4 24 | $0.79 | $-0.23 | ||
| Q3 24 | $0.67 | $-0.08 | ||
| Q2 24 | $0.77 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $274.5M | $768.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.0B | $4.9B |
| Total Assets | $13.8B | $5.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $274.5M | — | ||
| Q4 25 | — | $768.0M | ||
| Q3 25 | — | $874.0M | ||
| Q2 25 | — | $587.0M | ||
| Q1 25 | — | $914.0M | ||
| Q4 24 | $560.8M | $1.1B | ||
| Q3 24 | $560.8M | $1.1B | ||
| Q2 24 | $560.8M | $1.2B |
| Q1 26 | — | — | ||
| Q4 25 | $7.2B | — | ||
| Q3 25 | $7.2B | — | ||
| Q2 25 | $6.9B | — | ||
| Q1 25 | $6.9B | — | ||
| Q4 24 | $7.7B | — | ||
| Q3 24 | $7.4B | — | ||
| Q2 24 | $6.6B | — |
| Q1 26 | $5.0B | — | ||
| Q4 25 | $4.6B | $4.9B | ||
| Q3 25 | $4.6B | $5.0B | ||
| Q2 25 | $4.6B | $4.7B | ||
| Q1 25 | $4.2B | $4.8B | ||
| Q4 24 | $4.3B | $4.8B | ||
| Q3 24 | $4.3B | $4.7B | ||
| Q2 24 | $4.1B | $4.5B |
| Q1 26 | $13.8B | — | ||
| Q4 25 | $12.9B | $5.7B | ||
| Q3 25 | $12.8B | $5.7B | ||
| Q2 25 | $12.5B | $5.4B | ||
| Q1 25 | $12.1B | $5.7B | ||
| Q4 24 | $13.1B | $5.8B | ||
| Q3 24 | $12.7B | $6.2B | ||
| Q2 24 | $11.8B | $6.6B |
| Q1 26 | — | — | ||
| Q4 25 | 1.56× | — | ||
| Q3 25 | 1.57× | — | ||
| Q2 25 | 1.51× | — | ||
| Q1 25 | 1.63× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.74× | — | ||
| Q2 24 | 1.60× | — |
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 | — | $72.0M |
| Free Cash FlowOCF − Capex | — | $44.0M |
| FCF MarginFCF / Revenue | — | 6.7% |
| Capex IntensityCapex / Revenue | — | 4.3% |
| Cash ConversionOCF / Net Profit | — | 24.00× |
| TTM Free Cash FlowTrailing 4 quarters | — | $235.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $72.0M | ||
| Q3 25 | $240.3M | $105.0M | ||
| Q2 25 | $293.4M | $87.0M | ||
| Q1 25 | $252.5M | $104.0M | ||
| Q4 24 | $1.1B | $122.0M | ||
| Q3 24 | $270.4M | $171.0M | ||
| Q2 24 | $252.1M | $55.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $44.0M | ||
| Q3 25 | $183.0M | $73.0M | ||
| Q2 25 | $272.3M | $50.0M | ||
| Q1 25 | $239.6M | $68.0M | ||
| Q4 24 | $1.1B | $88.0M | ||
| Q3 24 | $261.5M | $138.0M | ||
| Q2 24 | $245.0M | $18.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.7% | ||
| Q3 25 | 46.0% | 10.8% | ||
| Q2 25 | 69.0% | 7.6% | ||
| Q1 25 | 60.6% | 11.4% | ||
| Q4 24 | 275.3% | 15.9% | ||
| Q3 24 | 67.9% | 23.8% | ||
| Q2 24 | 64.4% | 3.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.3% | ||
| Q3 25 | 14.4% | 4.7% | ||
| Q2 25 | 5.3% | 5.6% | ||
| Q1 25 | 3.3% | 6.0% | ||
| Q4 24 | 0.0% | 6.1% | ||
| Q3 24 | 2.3% | 5.7% | ||
| Q2 24 | 1.9% | 6.5% |
| Q1 26 | — | — | ||
| Q4 25 | 4.10× | 24.00× | ||
| Q3 25 | 1.00× | 10.50× | ||
| Q2 25 | 1.94× | 43.50× | ||
| Q1 25 | 1.53× | 13.00× | ||
| Q4 24 | 4.80× | — | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | 1.21× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GLPI
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% |
