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Side-by-side financial comparison of VIASAT INC (VSAT) and ZILLOW GROUP, INC. (ZG). Click either name above to swap in a different company.
VIASAT INC is the larger business by last-quarter revenue ($1.2B vs $654.0M, roughly 1.8× ZILLOW GROUP, INC.). VIASAT INC runs the higher net margin — 2.2% vs 0.5%, a 1.7% gap on every dollar of revenue. On growth, ZILLOW GROUP, INC. posted the faster year-over-year revenue change (18.1% vs 3.0%). Over the past eight quarters, ZILLOW GROUP, INC.'s revenue compounded faster (11.2% CAGR vs 0.3%).
Viasat, Inc. is an American communications company based in Carlsbad, California, with additional operations across the United States and worldwide. Viasat is a provider of high-speed satellite broadband services and secure networking systems covering military and commercial markets.
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.
VSAT vs ZG — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $654.0M |
| Net Profit | $25.0M | $3.0M |
| Gross Margin | — | 72.8% |
| Operating Margin | 2.3% | -1.7% |
| Net Margin | 2.2% | 0.5% |
| Revenue YoY | 3.0% | 18.1% |
| Net Profit YoY | 115.8% | 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.
| Q4 25 | $1.2B | $654.0M | ||
| Q3 25 | $1.1B | $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 24 | $1.2B | $529.0M |
| Q4 25 | $25.0M | $3.0M | ||
| Q3 25 | $-61.4M | $10.0M | ||
| Q2 25 | $-56.4M | $2.0M | ||
| Q1 25 | $-246.1M | $8.0M | ||
| Q4 24 | $-158.4M | $-52.0M | ||
| Q3 24 | $-137.6M | $-20.0M | ||
| Q2 24 | $-32.9M | $-17.0M | ||
| Q1 24 | $-100.3M | $-23.0M |
| 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 24 | — | 76.7% |
| Q4 25 | 2.3% | -1.7% | ||
| Q3 25 | 3.1% | -0.4% | ||
| Q2 25 | 4.0% | -1.7% | ||
| Q1 25 | -13.4% | -1.5% | ||
| Q4 24 | 1.9% | -12.5% | ||
| Q3 24 | -2.2% | -7.7% | ||
| Q2 24 | 5.3% | -6.6% | ||
| Q1 24 | 0.0% | -8.5% |
| Q4 25 | 2.2% | 0.5% | ||
| Q3 25 | -5.4% | 1.5% | ||
| Q2 25 | -4.8% | 0.3% | ||
| Q1 25 | -21.5% | 1.3% | ||
| Q4 24 | -14.1% | -9.4% | ||
| Q3 24 | -12.3% | -3.4% | ||
| Q2 24 | -2.9% | -3.0% | ||
| Q1 24 | -8.7% | -4.3% |
| Q4 25 | $0.18 | $0.01 | ||
| Q3 25 | $-0.45 | $0.04 | ||
| Q2 25 | $-0.43 | $0.01 | ||
| Q1 25 | $-1.92 | $0.03 | ||
| Q4 24 | $-1.23 | $-0.23 | ||
| Q3 24 | $-1.07 | $-0.08 | ||
| Q2 24 | $-0.26 | $-0.07 | ||
| Q1 24 | $-1.14 | $-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 | $1.3B | $768.0M |
| Total DebtLower is stronger | $6.2B | — |
| Stockholders' EquityBook value | $4.6B | $4.9B |
| Total Assets | $14.9B | $5.7B |
| Debt / EquityLower = less leverage | 1.37× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $768.0M | ||
| Q3 25 | $1.2B | $874.0M | ||
| Q2 25 | $1.2B | $587.0M | ||
| Q1 25 | $1.6B | $914.0M | ||
| Q4 24 | $1.6B | $1.1B | ||
| Q3 24 | $3.5B | $1.1B | ||
| Q2 24 | $1.8B | $1.2B | ||
| Q1 24 | $1.9B | $1.4B |
| Q4 25 | $6.2B | — | ||
| Q3 25 | $6.5B | — | ||
| Q2 25 | $6.5B | — | ||
| Q1 25 | $6.5B | — | ||
| Q4 24 | $6.5B | — | ||
| Q3 24 | $6.4B | — | ||
| Q2 24 | $7.1B | — | ||
| Q1 24 | $7.1B | — |
| Q4 25 | $4.6B | $4.9B | ||
| Q3 25 | $4.5B | $5.0B | ||
| Q2 25 | $4.6B | $4.7B | ||
| Q1 25 | $4.6B | $4.8B | ||
| Q4 24 | $4.8B | $4.8B | ||
| Q3 24 | $4.9B | $4.7B | ||
| Q2 24 | $5.0B | $4.5B | ||
| Q1 24 | $5.0B | $4.7B |
| Q4 25 | $14.9B | $5.7B | ||
| Q3 25 | $14.8B | $5.7B | ||
| Q2 25 | $14.9B | $5.4B | ||
| Q1 25 | $15.4B | $5.7B | ||
| Q4 24 | $15.6B | $5.8B | ||
| Q3 24 | $17.8B | $6.2B | ||
| Q2 24 | $16.1B | $6.6B | ||
| Q1 24 | $16.3B | $6.8B |
| Q4 25 | 1.37× | — | ||
| Q3 25 | 1.44× | — | ||
| Q2 25 | 1.43× | — | ||
| Q1 25 | 1.43× | — | ||
| Q4 24 | 1.37× | — | ||
| Q3 24 | 1.30× | — | ||
| Q2 24 | 1.42× | — | ||
| Q1 24 | 1.42× | — |
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 | $726.9M | $72.0M |
| Free Cash FlowOCF − Capex | — | $44.0M |
| FCF MarginFCF / Revenue | — | 6.7% |
| Capex IntensityCapex / Revenue | — | 4.3% |
| Cash ConversionOCF / Net Profit | 29.11× | 24.00× |
| TTM Free Cash FlowTrailing 4 quarters | — | $235.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $726.9M | $72.0M | ||
| Q3 25 | $282.2M | $105.0M | ||
| Q2 25 | $258.5M | $87.0M | ||
| Q1 25 | $298.4M | $104.0M | ||
| Q4 24 | $219.5M | $122.0M | ||
| Q3 24 | $239.2M | $171.0M | ||
| Q2 24 | $151.1M | $55.0M | ||
| Q1 24 | $232.0M | $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 | 29.11× | 24.00× | ||
| Q3 25 | — | 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
VSAT
| Products | $334.2M | 29% |
| Aviation Services | $303.7M | 26% |
| Government Satcom Services | $202.4M | 17% |
| Maritime Services | $114.9M | 10% |
| Information Security And Cyber Defense Products | $97.0M | 8% |
| Tactical Networking Products | $93.9M | 8% |
| Navarino Uk And Jsat Mobile | $15.5M | 1% |
| Advanced Technologies And Other Products | $6.1M | 1% |
ZG
| Residential Revenue | $418.0M | 64% |
| Rental Revenue | $168.0M | 26% |
| Mortgage Revenue | $57.0M | 9% |
| Display Advertising And Other Revenue | $11.0M | 2% |
