CoStar Group vs Zillow
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The short version
- CoStar Group is the larger business, with $3.2B of revenue in fiscal 2025 against $2.6B for Zillow.
- CoStar Group grew revenue faster (18.7%, against 15.5%).
- Zillow kept more of each dollar of sales as operating profit (−1.3% operating margin, against −2.2%).
- Zillow turned more of its sales into free cash flow (9.1% FCF margin, against 3.8%).
- Investors pay more for each dollar of CoStar Group’s earnings: a P/E of 188.4x against 154.8x for Zillow.
| Latest fiscal year | CSGP · FY25 | ZG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $13.7B | $7.8B |
| Revenue | $3.2B | $2.6B |
| Free cash flow | $123M | $235M |
| Net income | $7.0M | $23.0M |
| Growth | ||
| Revenue growth | 18.7% | 15.5% |
| 5-year growth | 14.4% | 9.7% |
| Share count change | 3.2% | 8.6% |
| Profitability | ||
| Gross margin | 78.9% | 74.1% |
| Operating margin | −2.2% | −1.3% |
| Net margin | 0.2% | 0.9% |
| FCF margin | 3.8% | 9.1% |
| Return on capital | −0.6% | −0.9% |
| Return on equity | 0.1% | 0.5% |
| Balance sheet | ||
| Net debt | −$629M | −$1.3B |
| Net debt / EBITDA | −3.3x | −5.6x |
| Dividends and buybacks | $500M | $670M |
| Valuation & quality | ||
| P/E | 188.4x | 154.8x |
| Piotroski F-score | 5 | 7 |
Revenue
FY16
CSGP $838M
ZG $847M
FY17
CSGP $965M
ZG $1.1B
FY18
CSGP $1.2B
ZG $1.3B
FY19
CSGP $1.4B
ZG $2.7B
FY20
CSGP $1.7B
ZG $1.6B
FY21
CSGP $1.9B
ZG $2.1B
FY22
CSGP $2.2B
ZG $2.0B
FY23
CSGP $2.5B
ZG $1.9B
FY24
CSGP $2.7B
ZG $2.2B
FY25
CSGP $3.2B
ZG $2.6B
CSGP
ZG
Operating margin
FY16
CSGP 17.3%
ZG −22.8%
FY17
CSGP 18.0%
ZG −15.0%
FY18
CSGP 23.0%
ZG −9.7%
FY19
CSGP 26.0%
ZG −9.0%
FY20
CSGP 17.4%
ZG 6.7%
FY21
CSGP 22.2%
ZG 11.2%
FY22
CSGP 20.7%
ZG −4.8%
FY23
CSGP 11.5%
ZG −13.9%
FY24
CSGP 0.2%
ZG −8.8%
FY25
CSGP −2.2%
ZG −1.3%
CSGP
ZG
Free cash flow
FY16
CSGP $182M
ZG −$53.4M
FY17
CSGP $210M
ZG $191M
FY18
CSGP $306M
ZG −$62.2M
FY19
CSGP $412M
ZG −$679M
FY20
CSGP $438M
ZG $338M
FY21
CSGP $346M
ZG −$3.3B
FY22
CSGP $444M
ZG $4.4B
FY23
CSGP $372M
ZG $219M
FY24
CSGP −$186M
ZG $285M
FY25
CSGP $123M
ZG $235M
CSGP
ZG
Return on capital
FY16
CSGP 6.2%
ZG −6.4%
FY17
CSGP 9.0%
ZG −5.5%
FY18
CSGP 13.7%
ZG −4.4%
FY19
CSGP 13.8%
ZG −8.0%
FY20
CSGP 9.7%
ZG 3.6%
FY21
CSGP 11.3%
ZG 7.7%
FY22
CSGP 11.9%
ZG −2.2%
FY23
CSGP 7.0%
ZG −7.0%
FY24
CSGP 0.1%
ZG −4.6%
FY25
CSGP −0.6%
ZG −0.9%
CSGP
ZG
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.