Newmark Group vs Zillow
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The short version
- Newmark Group is the larger business, with $3.3B of revenue in fiscal 2025 against $2.6B for Zillow.
- Newmark Group grew revenue faster (20.3%, against 15.5%).
- Newmark Group kept more of each dollar of sales as operating profit (7.1% operating margin, against −1.3%).
- Zillow turned more of its sales into free cash flow (9.1% FCF margin, against 4.3%).
- Newmark Group earned a higher return on the capital invested in it (8.6%, against −0.9%).
- Investors pay more for each dollar of Zillow’s earnings: a P/E of 154.8x against 14.4x for Newmark Group.
| Latest fiscal year | NMRK · FY25 | ZG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.9B | $7.8B |
| Revenue | $3.3B | $2.6B |
| Free cash flow | $143M | $235M |
| Net income | $126M | $23.0M |
| Growth | ||
| Revenue growth | 20.3% | 15.5% |
| 5-year growth | 11.6% | 9.7% |
| Share count change | 42.6% | 8.6% |
| Profitability | ||
| Gross margin | — | 74.1% |
| Operating margin | 7.1% | −1.3% |
| Net margin | 3.8% | 0.9% |
| FCF margin | 4.3% | 9.1% |
| Return on capital | 8.6% | −0.9% |
| Return on equity | 9.5% | 0.5% |
| Balance sheet | ||
| Net debt | $443M | −$1.3B |
| Net debt / EBITDA | 1.1x | −5.6x |
| Dividends and buybacks | $127M | $670M |
| Valuation & quality | ||
| P/E | 14.4x | 154.8x |
| Piotroski F-score | 7 | 7 |
Revenue
FY16
NMRK $1.4B
ZG $847M
FY17
NMRK $1.6B
ZG $1.1B
FY18
NMRK $2.0B
ZG $1.3B
FY19
NMRK $2.2B
ZG $2.7B
FY20
NMRK $1.9B
ZG $1.6B
FY21
NMRK $2.9B
ZG $2.1B
FY22
NMRK $2.7B
ZG $2.0B
FY23
NMRK $2.5B
ZG $1.9B
FY24
NMRK $2.7B
ZG $2.2B
FY25
NMRK $3.3B
ZG $2.6B
NMRK
ZG
Operating margin
FY16
NMRK 12.4%
ZG −22.8%
FY17
NMRK 12.5%
ZG −15.0%
FY18
NMRK 16.2%
ZG −9.7%
FY19
NMRK 11.1%
ZG −9.0%
FY20
NMRK 9.7%
ZG 6.7%
FY21
NMRK 43.2%
ZG 11.2%
FY22
NMRK 6.9%
ZG −4.8%
FY23
NMRK 5.1%
ZG −13.9%
FY24
NMRK 6.0%
ZG −8.8%
FY25
NMRK 7.1%
ZG −1.3%
NMRK
ZG
Free cash flow
FY16
NMRK −$671M
ZG −$53.4M
FY17
NMRK $835M
ZG $191M
FY18
NMRK −$353M
ZG −$62.2M
FY19
NMRK $952M
ZG −$679M
FY20
NMRK −$797M
ZG $338M
FY21
NMRK −$68.4M
ZG −$3.3B
FY22
NMRK $1.1B
ZG $4.4B
FY23
NMRK −$321M
ZG $219M
FY24
NMRK −$41.5M
ZG $285M
FY25
NMRK $143M
ZG $235M
NMRK
ZG
Return on capital
FY16
NMRK —
ZG −6.4%
FY17
NMRK —
ZG −5.5%
FY18
NMRK 21.2%
ZG −4.4%
FY19
NMRK 13.5%
ZG −8.0%
FY20
NMRK 10.2%
ZG 3.6%
FY21
NMRK 70.0%
ZG 7.7%
FY22
NMRK 8.1%
ZG −2.2%
FY23
NMRK 4.0%
ZG −7.0%
FY24
NMRK 5.4%
ZG −4.6%
FY25
NMRK 8.6%
ZG −0.9%
NMRK
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.