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Side-by-side financial comparison of ZILLOW GROUP, INC. (ZG) and ZIONS BANCORPORATION, NATIONAL ASSOCIATION (ZION). Click either name above to swap in a different company.
ZIONS BANCORPORATION, NATIONAL ASSOCIATION is the larger business by last-quarter revenue ($891.0M vs $654.0M, roughly 1.4× ZILLOW GROUP, INC.). ZIONS BANCORPORATION, NATIONAL ASSOCIATION runs the higher net margin — 29.5% vs 0.5%, a 29.1% gap on every dollar of revenue. On growth, ZILLOW GROUP, INC. posted the faster year-over-year revenue change (18.1% vs 8.7%). ZIONS BANCORPORATION, NATIONAL ASSOCIATION produced more free cash flow last quarter ($952.0M vs $44.0M). Over the past eight quarters, ZILLOW GROUP, INC.'s revenue compounded faster (11.2% CAGR vs 9.6%).
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.
Zions Bancorporation is an American national bank headquartered in Salt Lake City, Utah. It operates as a national bank rather than as a bank holding company and does business under the following seven brands: Zions Bank, Amegy Bank of Texas, California Bank and Trust, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and the Commerce Bank of Washington.
ZG vs ZION — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $654.0M | $891.0M |
| Net Profit | $3.0M | $263.0M |
| Gross Margin | 72.8% | — |
| Operating Margin | -1.7% | — |
| Net Margin | 0.5% | 29.5% |
| Revenue YoY | 18.1% | 8.7% |
| Net Profit YoY | 105.8% | 21.8% |
| EPS (diluted) | $0.01 | $1.77 |
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 | $891.0M | ||
| Q3 25 | $676.0M | $861.0M | ||
| Q2 25 | $655.0M | $838.0M | ||
| Q1 25 | $598.0M | $795.0M | ||
| Q4 24 | $554.0M | $820.0M | ||
| Q3 24 | $581.0M | $792.0M | ||
| Q2 24 | $572.0M | $777.0M | ||
| Q1 24 | $529.0M | $742.0M |
| Q4 25 | $3.0M | $263.0M | ||
| Q3 25 | $10.0M | $222.0M | ||
| Q2 25 | $2.0M | $244.0M | ||
| Q1 25 | $8.0M | $170.0M | ||
| Q4 24 | $-52.0M | $216.0M | ||
| Q3 24 | $-20.0M | $214.0M | ||
| Q2 24 | $-17.0M | $201.0M | ||
| Q1 24 | $-23.0M | $153.0M |
| 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 | -1.7% | — | ||
| Q3 25 | -0.4% | — | ||
| Q2 25 | -1.7% | — | ||
| Q1 25 | -1.5% | — | ||
| Q4 24 | -12.5% | — | ||
| Q3 24 | -7.7% | — | ||
| Q2 24 | -6.6% | — | ||
| Q1 24 | -8.5% | — |
| Q4 25 | 0.5% | 29.5% | ||
| Q3 25 | 1.5% | 25.8% | ||
| Q2 25 | 0.3% | 29.1% | ||
| Q1 25 | 1.3% | 21.4% | ||
| Q4 24 | -9.4% | 26.3% | ||
| Q3 24 | -3.4% | 27.0% | ||
| Q2 24 | -3.0% | 25.9% | ||
| Q1 24 | -4.3% | 20.6% |
| Q4 25 | $0.01 | $1.77 | ||
| Q3 25 | $0.04 | $1.48 | ||
| Q2 25 | $0.01 | $1.63 | ||
| Q1 25 | $0.03 | $1.13 | ||
| Q4 24 | $-0.23 | $1.34 | ||
| Q3 24 | $-0.08 | $1.37 | ||
| Q2 24 | $-0.07 | $1.28 | ||
| Q1 24 | $-0.10 | $0.96 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $768.0M | — |
| Total DebtLower is stronger | — | $1.5B |
| Stockholders' EquityBook value | $4.9B | $7.2B |
| Total Assets | $5.7B | $89.0B |
| Debt / EquityLower = less leverage | — | 0.21× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $768.0M | — | ||
| Q3 25 | $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 | — | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $970.0M | ||
| Q1 25 | — | $964.0M | ||
| Q4 24 | — | $950.0M | ||
| Q3 24 | — | $548.0M | ||
| Q2 24 | — | $546.0M | ||
| Q1 24 | — | $544.0M |
| Q4 25 | $4.9B | $7.2B | ||
| Q3 25 | $5.0B | $6.9B | ||
| Q2 25 | $4.7B | $6.6B | ||
| Q1 25 | $4.8B | $6.3B | ||
| Q4 24 | $4.8B | $6.1B | ||
| Q3 24 | $4.7B | $6.4B | ||
| Q2 24 | $4.5B | $6.0B | ||
| Q1 24 | $4.7B | $5.8B |
| Q4 25 | $5.7B | $89.0B | ||
| Q3 25 | $5.7B | $88.5B | ||
| Q2 25 | $5.4B | $88.9B | ||
| Q1 25 | $5.7B | $88.0B | ||
| Q4 24 | $5.8B | $88.8B | ||
| Q3 24 | $6.2B | $87.0B | ||
| Q2 24 | $6.6B | $87.6B | ||
| Q1 24 | $6.8B | $87.1B |
| Q4 25 | — | 0.21× | ||
| Q3 25 | — | 0.21× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.09× | ||
| Q2 24 | — | 0.09× | ||
| Q1 24 | — | 0.09× |
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 | $1.1B |
| Free Cash FlowOCF − Capex | $44.0M | $952.0M |
| FCF MarginFCF / Revenue | 6.7% | 106.8% |
| Capex IntensityCapex / Revenue | 4.3% | 13.6% |
| Cash ConversionOCF / Net Profit | 24.00× | 4.08× |
| TTM Free Cash FlowTrailing 4 quarters | $235.0M | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.0M | $1.1B | ||
| Q3 25 | $105.0M | $438.0M | ||
| Q2 25 | $87.0M | $-62.0M | ||
| Q1 25 | $104.0M | $179.0M | ||
| Q4 24 | $122.0M | $1.1B | ||
| Q3 24 | $171.0M | $119.0M | ||
| Q2 24 | $55.0M | $251.0M | ||
| Q1 24 | $80.0M | $261.0M |
| Q4 25 | $44.0M | $952.0M | ||
| Q3 25 | $73.0M | $413.0M | ||
| Q2 25 | $50.0M | $-93.0M | ||
| Q1 25 | $68.0M | $152.0M | ||
| Q4 24 | $88.0M | $1.1B | ||
| Q3 24 | $138.0M | $97.0M | ||
| Q2 24 | $18.0M | $234.0M | ||
| Q1 24 | $41.0M | $231.0M |
| Q4 25 | 6.7% | 106.8% | ||
| Q3 25 | 10.8% | 48.0% | ||
| Q2 25 | 7.6% | -11.1% | ||
| Q1 25 | 11.4% | 19.1% | ||
| Q4 24 | 15.9% | 128.2% | ||
| Q3 24 | 23.8% | 12.2% | ||
| Q2 24 | 3.1% | 30.1% | ||
| Q1 24 | 7.8% | 31.1% |
| Q4 25 | 4.3% | 13.6% | ||
| Q3 25 | 4.7% | 2.9% | ||
| Q2 25 | 5.6% | 3.7% | ||
| Q1 25 | 6.0% | 3.4% | ||
| Q4 24 | 6.1% | 11.8% | ||
| Q3 24 | 5.7% | 2.8% | ||
| Q2 24 | 6.5% | 2.2% | ||
| Q1 24 | 7.4% | 4.0% |
| Q4 25 | 24.00× | 4.08× | ||
| Q3 25 | 10.50× | 1.97× | ||
| Q2 25 | 43.50× | -0.25× | ||
| Q1 25 | 13.00× | 1.05× | ||
| Q4 24 | — | 5.31× | ||
| Q3 24 | — | 0.56× | ||
| Q2 24 | — | 1.25× | ||
| Q1 24 | — | 1.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ZG
| Residential Revenue | $418.0M | 64% |
| Rental Revenue | $168.0M | 26% |
| Mortgage Revenue | $57.0M | 9% |
| Display Advertising And Other Revenue | $11.0M | 2% |
ZION
Segment breakdown not available.
