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Side-by-side financial comparison of Grocery Outlet Holding Corp. (GO) and ZILLOW GROUP, INC. (ZG). Click either name above to swap in a different company.
Grocery Outlet Holding Corp. is the larger business by last-quarter revenue ($1.2B vs $654.0M, roughly 1.9× ZILLOW GROUP, INC.). ZILLOW GROUP, INC. runs the higher net margin — 0.5% vs -18.5%, a 19.0% gap on every dollar of revenue. On growth, ZILLOW GROUP, INC. posted the faster year-over-year revenue change (18.1% vs 10.7%). Over the past eight quarters, ZILLOW GROUP, INC.'s revenue compounded faster (11.2% CAGR vs 8.3%).
Grocery Outlet Holding Corp. is an American discount closeout retailer consisting exclusively of supermarket locations that offer discounted, overstocked, and closeout products from name-brand and private-label suppliers. The company has stores in California, Oregon, Washington, Idaho, Nevada, Maryland, Pennsylvania, New Jersey, Ohio, and Delaware.
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.
GO vs ZG — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $654.0M |
| Net Profit | $-224.9M | $3.0M |
| Gross Margin | 29.7% | 72.8% |
| Operating Margin | — | -1.7% |
| Net Margin | -18.5% | 0.5% |
| Revenue YoY | 10.7% | 18.1% |
| Net Profit YoY | -669.9% | 105.8% |
| EPS (diluted) | $-2.22 | $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 | $1.2B | — | ||
| Q4 25 | — | $654.0M | ||
| Q3 25 | $1.2B | $676.0M | ||
| Q2 25 | $1.2B | $655.0M | ||
| Q1 25 | $1.1B | $598.0M | ||
| Q4 24 | $1.1B | $554.0M | ||
| Q3 24 | $1.1B | $581.0M | ||
| Q2 24 | $1.1B | $572.0M |
| Q1 26 | $-224.9M | — | ||
| Q4 25 | — | $3.0M | ||
| Q3 25 | $11.6M | $10.0M | ||
| Q2 25 | $5.0M | $2.0M | ||
| Q1 25 | $-23.3M | $8.0M | ||
| Q4 24 | $2.3M | $-52.0M | ||
| Q3 24 | $24.2M | $-20.0M | ||
| Q2 24 | $14.0M | $-17.0M |
| Q1 26 | 29.7% | — | ||
| Q4 25 | — | 72.8% | ||
| Q3 25 | 30.4% | 72.6% | ||
| Q2 25 | 30.6% | 74.7% | ||
| Q1 25 | 30.4% | 76.8% | ||
| Q4 24 | 29.5% | 75.8% | ||
| Q3 24 | 31.1% | 75.9% | ||
| Q2 24 | 30.9% | 77.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | -1.7% | ||
| Q3 25 | 2.0% | -0.4% | ||
| Q2 25 | 1.1% | -1.7% | ||
| Q1 25 | -2.0% | -1.5% | ||
| Q4 24 | 1.0% | -12.5% | ||
| Q3 24 | 3.6% | -7.7% | ||
| Q2 24 | 2.3% | -6.6% |
| Q1 26 | -18.5% | — | ||
| Q4 25 | — | 0.5% | ||
| Q3 25 | 1.0% | 1.5% | ||
| Q2 25 | 0.4% | 0.3% | ||
| Q1 25 | -2.1% | 1.3% | ||
| Q4 24 | 0.2% | -9.4% | ||
| Q3 24 | 2.2% | -3.4% | ||
| Q2 24 | 1.2% | -3.0% |
| Q1 26 | $-2.22 | — | ||
| Q4 25 | — | $0.01 | ||
| Q3 25 | $0.12 | $0.04 | ||
| Q2 25 | $0.05 | $0.01 | ||
| Q1 25 | $-0.24 | $0.03 | ||
| Q4 24 | $0.03 | $-0.23 | ||
| Q3 24 | $0.24 | $-0.08 | ||
| Q2 24 | $0.14 | $-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 | $69.6M | $768.0M |
| Total DebtLower is stronger | $15.0M | — |
| Stockholders' EquityBook value | $983.7M | $4.9B |
| Total Assets | $3.1B | $5.7B |
| Debt / EquityLower = less leverage | 0.02× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $69.6M | — | ||
| Q4 25 | — | $768.0M | ||
| Q3 25 | $52.1M | $874.0M | ||
| Q2 25 | $55.2M | $587.0M | ||
| Q1 25 | $50.9M | $914.0M | ||
| Q4 24 | $62.8M | $1.1B | ||
| Q3 24 | $68.7M | $1.1B | ||
| Q2 24 | $67.1M | $1.2B |
| Q1 26 | $15.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $500.3M | — | ||
| Q2 25 | $473.9M | — | ||
| Q1 25 | $475.7M | — | ||
| Q4 24 | $477.5M | — | ||
| Q3 24 | $429.3M | — | ||
| Q2 24 | $379.2M | — |
| Q1 26 | $983.7M | — | ||
| Q4 25 | — | $4.9B | ||
| Q3 25 | $1.2B | $5.0B | ||
| Q2 25 | $1.2B | $4.7B | ||
| Q1 25 | $1.2B | $4.8B | ||
| Q4 24 | $1.2B | $4.8B | ||
| Q3 24 | $1.2B | $4.7B | ||
| Q2 24 | $1.2B | $4.5B |
| Q1 26 | $3.1B | — | ||
| Q4 25 | — | $5.7B | ||
| Q3 25 | $3.4B | $5.7B | ||
| Q2 25 | $3.3B | $5.4B | ||
| Q1 25 | $3.3B | $5.7B | ||
| Q4 24 | $3.2B | $5.8B | ||
| Q3 24 | $3.1B | $6.2B | ||
| Q2 24 | $3.1B | $6.6B |
| Q1 26 | 0.02× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.42× | — | ||
| Q2 25 | 0.40× | — | ||
| Q1 25 | 0.40× | — | ||
| Q4 24 | 0.40× | — | ||
| Q3 24 | 0.35× | — | ||
| Q2 24 | 0.31× | — |
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 | $222.1M | $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 | $222.1M | — | ||
| Q4 25 | — | $72.0M | ||
| Q3 25 | $17.3M | $105.0M | ||
| Q2 25 | $73.6M | $87.0M | ||
| Q1 25 | $58.9M | $104.0M | ||
| Q4 24 | $39.5M | $122.0M | ||
| Q3 24 | $23.0M | $171.0M | ||
| Q2 24 | $41.6M | $55.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $44.0M | ||
| Q3 25 | $-21.6M | $73.0M | ||
| Q2 25 | $14.4M | $50.0M | ||
| Q1 25 | $-1.5M | $68.0M | ||
| Q4 24 | $-19.6M | $88.0M | ||
| Q3 24 | $-19.3M | $138.0M | ||
| Q2 24 | $2.7M | $18.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.7% | ||
| Q3 25 | -1.8% | 10.8% | ||
| Q2 25 | 1.2% | 7.6% | ||
| Q1 25 | -0.1% | 11.4% | ||
| Q4 24 | -1.8% | 15.9% | ||
| Q3 24 | -1.7% | 23.8% | ||
| Q2 24 | 0.2% | 3.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.3% | ||
| Q3 25 | 3.3% | 4.7% | ||
| Q2 25 | 5.0% | 5.6% | ||
| Q1 25 | 5.4% | 6.0% | ||
| Q4 24 | 5.4% | 6.1% | ||
| Q3 24 | 3.8% | 5.7% | ||
| Q2 24 | 3.4% | 6.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 24.00× | ||
| Q3 25 | 1.49× | 10.50× | ||
| Q2 25 | 14.84× | 43.50× | ||
| Q1 25 | — | 13.00× | ||
| Q4 24 | 17.09× | — | ||
| Q3 24 | 0.95× | — | ||
| Q2 24 | 2.97× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GO
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% |
