Curious about Zillow’s financial performance and Zillow net worth? As of 2024, Zillow continues to grow its influence in the real estate market, driven by expanding revenue in various segments.
In this article, I’ll break down Zillow’s latest financial highlights, focusing on residential revenue growth and other key contributors, brought to you by Ando Money.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Zillow Group, Inc. |
| Full Name | Zillow Group, Inc. |
| Website | www.zillowgroup.com |
| Industry | Real Estate Technology |
| Traded as | NASDAQ: Z and ZG |
| ISIN | N/A |
| Founded | 2004 |
| Founders | Rich Barton, Lloyd Frink |
| Country/Territory | United States |
| Headquarters | Seattle, Washington, U.S. |
| Chief Executive Officer | Jeremy Wacksman |
| Number of Employees | N/A |
| Market Cap | $14.27 billion |
| Total Assets | N/A |
| Total Equity | N/A |
| Revenue | $572 million (Q2 2024) |
| Net Income | -$17 million (Q2 2024) |
What is the Net Worth/Market Cap of Zillow in 2024?
As of October 2024, Zillow has a market cap of $14.27 billion. This valuation makes Zillow one of the significant players in the online real estate sector, ranking it among the top companies worldwide.
When we compare this to other companies in its space, Zillow stands strong. However, it’s important to note that Zillow’s overall valuation continues to fluctuate, with market dynamics affecting its net worth.
Below are companies closely related to Zillow that also hold a substantial position in the market:
- Trulia
- StreetEasy
- ShowingTime+
- Redfin
- Realtor.com
- Opendoor
- Rocket Mortgage
- Out East
- Spruce
For a more detailed look at companies like Zillow, you can check out our list of the leading companies in the financial market here.
Zillow Financial Performance Overview
Understanding Zillow’s Revenue Growth
In 2024, Zillow continues to outperform its competition, with $572 million in revenue for Q2 alone.
This reflects a 13% increase year over year. This growth is fueled by strong demand in multiple sectors, particularly residential services.
Zillow’s diversification strategy allows it to explore new avenues of revenue, which contributes to its stable financial performance.
Residential Segment Revenue Analysis
Zillow’s residential segment is a core component of its revenue, contributing $409 million in Q2 2024.
The 8% increase in year-over-year performance highlights the platform’s ability to maintain steady growth despite market challenges.
Zillow outperformed the residential real estate industry’s total transaction growth, which was 3% in comparison, showcasing its leadership in the sector.
Rental Segment Revenue Growth
Another strong revenue generator for Zillow is its rental segment, which delivered $117 million in Q2 2024, marking a 29% increase year-over-year. Multifamily rentals played a key role in this boost, growing by 44%.
The consistent rise in demand for rental properties, combined with Zillow’s streamlined rental services, makes this a vital revenue stream for the company.
Mortgages and Loan Origination Revenue
Zillow’s mortgage business saw tremendous growth in Q2 2024, with $34 million in revenue, a 42% increase from the previous year.
Zillow’s mortgage origination volume reached $756 million, marking a 125% year-over-year increase.
This growth can be attributed to a higher volume of purchase loans, which helps to diversify Zillow’s financial portfolio and strengthen its overall position in the market.
Financial Profitability Indicators
Despite a $17 million net loss in Q2 2024, Zillow’s Adjusted EBITDA remained strong at $134 million, representing 23% of total revenue.
This highlights the company’s ability to operate efficiently while strategically investing in growth.
By focusing on key profitability metrics such as EBITDA, Zillow positions itself well to achieve future profitability.
Diversification of Revenue Streams
Zillow has moved beyond traditional real estate services, leveraging innovation to drive new revenue.
Its “housing super app” and additional digital tools have expanded the company’s market presence, contributing to long-term revenue growth.
By exploring new product offerings, Zillow continues to diversify its revenue streams and maintain financial resilience.
External Factors Impacting Financial Performance
The broader economy and housing market trends play a significant role in shaping Zillow’s financial performance.
In Q2 2024, the company faced external pressures such as fluctuating interest rates and changes in housing affordability.
However, Zillow’s adaptability and strong market position allow it to navigate these challenges effectively, ensuring sustained revenue growth over time.
FAQs About Zillow
How did Zillow perform financially in Q2 2024?
It generated $572 million in revenue during Q2 2024, a 13% year-over-year increase. However, the company reported a net loss of $17 million in the same period.
What factors contributed to Zillow’s revenue growth in 2024?
Its growth is driven by its residential, rental, and mortgage segments. The company saw increases in each, with residential revenue at $409 million, rental revenue at $117 million, and mortgages at $34 million.
How much did Zillow’s rental segment contribute to overall revenue?
In Q2 2024, Zillow’s rental segment generated $117 million, which accounts for a significant portion of its total revenue.
This represents a 29% increase year-over-year, driven by strong growth in multifamily properties.
What was Zillow’s cash position at the end of Q2 2024?
At the end of Q2 2024, it had $2.6 billion in cash and investments, down slightly from $2.9 billion at the end of Q1 2024. This provides the company with a strong financial foundation.
Who is the current CEO of Zillow?
As of August 2024, Jeremy Wacksman has taken over as the CEO of Zillow, with Rich Barton transitioning to co-executive chairman alongside Lloyd Frink.
Conclusion
I hope this overview of Zillow’s financial performance helped clarify the company’s current situation.
If you’d like to read more insightful content or share your thoughts, feel free to leave a comment and explore additional resources at Ando Money.
