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Side-by-side financial comparison of PEGASYSTEMS INC (PEGA) 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 $430.0M, roughly 1.5× PEGASYSTEMS INC). PEGASYSTEMS INC runs the higher net margin — 7.6% vs 0.5%, a 7.2% gap on every dollar of revenue. On growth, ZILLOW GROUP, INC. posted the faster year-over-year revenue change (18.1% vs -9.6%). PEGASYSTEMS INC produced more free cash flow last quarter ($206.5M vs $44.0M). Over the past eight quarters, ZILLOW GROUP, INC.'s revenue compounded faster (11.2% CAGR vs 10.7%).
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
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.
PEGA vs ZG — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $430.0M | $654.0M |
| Net Profit | $32.8M | $3.0M |
| Gross Margin | 75.2% | 72.8% |
| Operating Margin | 8.6% | -1.7% |
| Net Margin | 7.6% | 0.5% |
| Revenue YoY | -9.6% | 18.1% |
| Net Profit YoY | -61.6% | 105.8% |
| EPS (diluted) | $0.18 | $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.
| Q1 26 | $430.0M | — | ||
| Q4 25 | $504.3M | $654.0M | ||
| Q3 25 | $381.4M | $676.0M | ||
| Q2 25 | $384.5M | $655.0M | ||
| Q1 25 | $475.6M | $598.0M | ||
| Q4 24 | $490.8M | $554.0M | ||
| Q3 24 | $325.1M | $581.0M | ||
| Q2 24 | $351.2M | $572.0M |
| Q1 26 | $32.8M | — | ||
| Q4 25 | $234.6M | $3.0M | ||
| Q3 25 | $43.4M | $10.0M | ||
| Q2 25 | $30.1M | $2.0M | ||
| Q1 25 | $85.4M | $8.0M | ||
| Q4 24 | $119.1M | $-52.0M | ||
| Q3 24 | $-14.4M | $-20.0M | ||
| Q2 24 | $6.6M | $-17.0M |
| Q1 26 | 75.2% | — | ||
| Q4 25 | 79.5% | 72.8% | ||
| Q3 25 | 72.2% | 72.6% | ||
| Q2 25 | 71.5% | 74.7% | ||
| Q1 25 | 78.5% | 76.8% | ||
| Q4 24 | 79.1% | 75.8% | ||
| Q3 24 | 70.2% | 75.9% | ||
| Q2 24 | 72.4% | 77.3% |
| Q1 26 | 8.6% | — | ||
| Q4 25 | 20.7% | -1.7% | ||
| Q3 25 | 3.8% | -0.4% | ||
| Q2 25 | 4.5% | -1.7% | ||
| Q1 25 | 26.7% | -1.5% | ||
| Q4 24 | 29.1% | -12.5% | ||
| Q3 24 | -3.6% | -7.7% | ||
| Q2 24 | 3.7% | -6.6% |
| Q1 26 | 7.6% | — | ||
| Q4 25 | 46.5% | 0.5% | ||
| Q3 25 | 11.4% | 1.5% | ||
| Q2 25 | 7.8% | 0.3% | ||
| Q1 25 | 18.0% | 1.3% | ||
| Q4 24 | 24.3% | -9.4% | ||
| Q3 24 | -4.4% | -3.4% | ||
| Q2 24 | 1.9% | -3.0% |
| Q1 26 | $0.18 | — | ||
| Q4 25 | $0.81 | $0.01 | ||
| Q3 25 | $0.24 | $0.04 | ||
| Q2 25 | $0.17 | $0.01 | ||
| Q1 25 | $0.91 | $0.03 | ||
| Q4 24 | $1.35 | $-0.23 | ||
| Q3 24 | $-0.17 | $-0.08 | ||
| Q2 24 | $0.07 | $-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 | $270.0M | $768.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $705.9M | $4.9B |
| Total Assets | $1.6B | $5.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $270.0M | — | ||
| Q4 25 | $425.8M | $768.0M | ||
| Q3 25 | $351.4M | $874.0M | ||
| Q2 25 | $411.6M | $587.0M | ||
| Q1 25 | $371.7M | $914.0M | ||
| Q4 24 | $740.0M | $1.1B | ||
| Q3 24 | $703.0M | $1.1B | ||
| Q2 24 | $665.1M | $1.2B |
| Q1 26 | $705.9M | — | ||
| Q4 25 | $787.4M | $4.9B | ||
| Q3 25 | $596.8M | $5.0B | ||
| Q2 25 | $624.5M | $4.7B | ||
| Q1 25 | $611.3M | $4.8B | ||
| Q4 24 | $585.5M | $4.8B | ||
| Q3 24 | $473.0M | $4.7B | ||
| Q2 24 | $435.4M | $4.5B |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $5.7B | ||
| Q3 25 | $1.3B | $5.7B | ||
| Q2 25 | $1.3B | $5.4B | ||
| Q1 25 | $1.3B | $5.7B | ||
| Q4 24 | $1.8B | $5.8B | ||
| Q3 24 | $1.6B | $6.2B | ||
| Q2 24 | $1.5B | $6.6B |
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 | $206.5M | $44.0M |
| FCF MarginFCF / Revenue | 48.0% | 6.7% |
| Capex IntensityCapex / Revenue | — | 4.3% |
| Cash ConversionOCF / Net Profit | — | 24.00× |
| TTM Free Cash FlowTrailing 4 quarters | $494.9M | $235.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $158.4M | $72.0M | ||
| Q3 25 | $56.3M | $105.0M | ||
| Q2 25 | $86.3M | $87.0M | ||
| Q1 25 | $204.2M | $104.0M | ||
| Q4 24 | $95.2M | $122.0M | ||
| Q3 24 | $30.5M | $171.0M | ||
| Q2 24 | $40.1M | $55.0M |
| Q1 26 | $206.5M | — | ||
| Q4 25 | $152.4M | $44.0M | ||
| Q3 25 | $51.8M | $73.0M | ||
| Q2 25 | $84.1M | $50.0M | ||
| Q1 25 | $202.3M | $68.0M | ||
| Q4 24 | $92.4M | $88.0M | ||
| Q3 24 | $27.4M | $138.0M | ||
| Q2 24 | $38.8M | $18.0M |
| Q1 26 | 48.0% | — | ||
| Q4 25 | 30.2% | 6.7% | ||
| Q3 25 | 13.6% | 10.8% | ||
| Q2 25 | 21.9% | 7.6% | ||
| Q1 25 | 42.5% | 11.4% | ||
| Q4 24 | 18.8% | 15.9% | ||
| Q3 24 | 8.4% | 23.8% | ||
| Q2 24 | 11.1% | 3.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 4.3% | ||
| Q3 25 | 1.2% | 4.7% | ||
| Q2 25 | 0.6% | 5.6% | ||
| Q1 25 | 0.4% | 6.0% | ||
| Q4 24 | 0.6% | 6.1% | ||
| Q3 24 | 0.9% | 5.7% | ||
| Q2 24 | 0.4% | 6.5% |
| Q1 26 | — | — | ||
| Q4 25 | 0.68× | 24.00× | ||
| Q3 25 | 1.30× | 10.50× | ||
| Q2 25 | 2.87× | 43.50× | ||
| Q1 25 | 2.39× | 13.00× | ||
| Q4 24 | 0.80× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 6.06× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
ZG
| Residential Revenue | $418.0M | 64% |
| Rental Revenue | $168.0M | 26% |
| Mortgage Revenue | $57.0M | 9% |
| Display Advertising And Other Revenue | $11.0M | 2% |
