Zillow Group Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	23	-112	-158	-101	-528
Depreciation & Amortization	109	102	112	113	117
Other Amortization	184	171	136	123	182
Asset Writedown & Restructuring Costs	2	6	16	-	57
Loss (Gain) From Sale of Investments	-9	-27	-35	-18	9
Stock-Based Compensation	390	448	451	451	312
Other Operating Activities	6	15	-3	45	428
Change in Accounts Receivable	-45	-8	-24	82	-82
Change in Inventory	-	-	-	3,904	-3,827
Change in Accounts Payable	6	2	6	3	5
Change in Unearned Revenue	7	8	1	-7	1
Change in Other Net Operating Assets	-305	-177	-148	-91	149
Operating Cash Flow	368	428	354	4,504	-3,177
Operating Cash Flow Growth	-14.02%	20.90%	-92.14%	-	-
Capital Expenditures	-133	-143	-135	-115	-74
Cash Acquisitions	-	-7	-433	-4	-497
Sale (Purchase) of Intangibles	-134	-28	-30	-25	-31
Investment in Securities	261	573	623	-1,389	1,690
Investing Cash Flow	-6	395	25	-1,533	1,088
Short-Term Debt Issued	219	52	56	-	3,618
Long-Term Debt Issued	-	-	-	-	1,138
Total Debt Issued	219	52	56	-	4,756
Short-Term Debt Repaid	-	-	-	-2,282	-1,977
Long-Term Debt Repaid	-419	-1,196	-56	-1,158	-1
Total Debt Repaid	-419	-1,196	-56	-3,440	-1,978
Net Debt Issued (Repaid)	-200	-1,144	-	-3,440	2,778
Issuance of Common Stock	188	212	72	46	672
Repurchase of Common Stock	-670	-301	-424	-947	-302
Other Financing Activities	8	-	-	-	-
Financing Cash Flow	-674	-1,233	-352	-4,341	3,148
Net Cash Flow	-312	-410	27	-1,370	1,059
Free Cash Flow	235	285	219	4,389	-3,251
Free Cash Flow Growth	-17.54%	30.14%	-95.01%	-	-
Free Cash Flow Margin	9.10%	12.75%	11.26%	224.16%	-152.49%
Free Cash Flow Per Share	0.93	1.22	0.94	18.12	-12.42
Cash Interest Paid	18	35	28	50	109
Cash Income Tax Paid	3	6	6	6	-
Levered Free Cash Flow	84.75	292.75	294.13	1,533	280.4
Unlevered Free Cash Flow	96	311.25	311.63	1,529	256.4
Change in Working Capital	-337	-175	-165	3,891	-3,754

Source: S&P Global Market Intelligence. Standard template. Financial Sources.