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Side-by-side financial comparison of Qnity Electronics, Inc. (Q) and ZILLOW GROUP, INC. (ZG). Click either name above to swap in a different company.
Qnity Electronics, Inc. is the larger business by last-quarter revenue ($1.3B vs $654.0M, roughly 2.0× ZILLOW GROUP, INC.). Qnity Electronics, Inc. runs the higher net margin — 16.5% vs 0.5%, a 16.1% gap on every dollar of revenue. On growth, ZILLOW GROUP, INC. posted the faster year-over-year revenue change (18.1% vs 11.1%). Qnity Electronics, Inc. produced more free cash flow last quarter ($568.0M vs $44.0M).
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.
Q vs ZG — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $654.0M |
| Net Profit | $211.0M | $3.0M |
| Gross Margin | 45.1% | 72.8% |
| Operating Margin | 21.3% | -1.7% |
| Net Margin | 16.5% | 0.5% |
| Revenue YoY | 11.1% | 18.1% |
| Net Profit YoY | 6.0% | 105.8% |
| EPS (diluted) | $1.01 | $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 | — | $654.0M | ||
| Q3 25 | $1.3B | $676.0M | ||
| Q2 25 | — | $655.0M | ||
| Q1 25 | — | $598.0M | ||
| Q4 24 | — | $554.0M | ||
| Q3 24 | $1.1B | $581.0M | ||
| Q2 24 | — | $572.0M | ||
| Q1 24 | — | $529.0M |
| Q4 25 | — | $3.0M | ||
| Q3 25 | $211.0M | $10.0M | ||
| Q2 25 | — | $2.0M | ||
| Q1 25 | — | $8.0M | ||
| Q4 24 | — | $-52.0M | ||
| Q3 24 | $199.0M | $-20.0M | ||
| Q2 24 | — | $-17.0M | ||
| Q1 24 | — | $-23.0M |
| Q4 25 | — | 72.8% | ||
| Q3 25 | 45.1% | 72.6% | ||
| Q2 25 | — | 74.7% | ||
| Q1 25 | — | 76.8% | ||
| Q4 24 | — | 75.8% | ||
| Q3 24 | 47.0% | 75.9% | ||
| Q2 24 | — | 77.3% | ||
| Q1 24 | — | 76.7% |
| Q4 25 | — | -1.7% | ||
| Q3 25 | 21.3% | -0.4% | ||
| Q2 25 | — | -1.7% | ||
| Q1 25 | — | -1.5% | ||
| Q4 24 | — | -12.5% | ||
| Q3 24 | 21.8% | -7.7% | ||
| Q2 24 | — | -6.6% | ||
| Q1 24 | — | -8.5% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | 16.5% | 1.5% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | -9.4% | ||
| Q3 24 | 17.3% | -3.4% | ||
| Q2 24 | — | -3.0% | ||
| Q1 24 | — | -4.3% |
| Q4 25 | — | $0.01 | ||
| Q3 25 | $1.01 | $0.04 | ||
| Q2 25 | — | $0.01 | ||
| Q1 25 | — | $0.03 | ||
| Q4 24 | — | $-0.23 | ||
| Q3 24 | $0.95 | $-0.08 | ||
| Q2 24 | — | $-0.07 | ||
| Q1 24 | — | $-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 | $128.0M | $768.0M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $9.1B | $4.9B |
| Total Assets | $12.5B | $5.7B |
| Debt / EquityLower = less leverage | 0.19× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $768.0M | ||
| Q3 25 | $128.0M | $874.0M | ||
| Q2 25 | — | $587.0M | ||
| Q1 25 | — | $914.0M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | — | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $4.9B | ||
| Q3 25 | $9.1B | $5.0B | ||
| Q2 25 | — | $4.7B | ||
| Q1 25 | — | $4.8B | ||
| Q4 24 | — | $4.8B | ||
| Q3 24 | $11.1B | $4.7B | ||
| Q2 24 | — | $4.5B | ||
| Q1 24 | — | $4.7B |
| Q4 25 | — | $5.7B | ||
| Q3 25 | $12.5B | $5.7B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.7B | ||
| Q4 24 | — | $5.8B | ||
| Q3 24 | — | $6.2B | ||
| Q2 24 | — | $6.6B | ||
| Q1 24 | — | $6.8B |
| Q4 25 | — | — | ||
| Q3 25 | 0.19× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $782.0M | $72.0M |
| Free Cash FlowOCF − Capex | $568.0M | $44.0M |
| FCF MarginFCF / Revenue | 44.5% | 6.7% |
| Capex IntensityCapex / Revenue | 16.8% | 4.3% |
| Cash ConversionOCF / Net Profit | 3.71× | 24.00× |
| TTM Free Cash FlowTrailing 4 quarters | — | $235.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $72.0M | ||
| Q3 25 | $782.0M | $105.0M | ||
| Q2 25 | — | $87.0M | ||
| Q1 25 | — | $104.0M | ||
| Q4 24 | — | $122.0M | ||
| Q3 24 | — | $171.0M | ||
| Q2 24 | — | $55.0M | ||
| Q1 24 | — | $80.0M |
| Q4 25 | — | $44.0M | ||
| Q3 25 | $568.0M | $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 | 44.5% | 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 | 16.8% | 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 | — | 24.00× | ||
| Q3 25 | 3.71× | 10.50× | ||
| Q2 25 | — | 43.50× | ||
| Q1 25 | — | 13.00× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
Q
| Semiconductor Technologies | $693.0M | 54% |
| Interconnect Solutions | $583.0M | 46% |
ZG
| Residential Revenue | $418.0M | 64% |
| Rental Revenue | $168.0M | 26% |
| Mortgage Revenue | $57.0M | 9% |
| Display Advertising And Other Revenue | $11.0M | 2% |
