COMP <GO>

Z vs ZG // EV/EBITDA & P/E VALUATION

Zillow Group Inc. (NASDAQ) VS. Zillow Group Inc. (Class A) (NASDAQ) • 15-METRIC TALLY: Z 4 — ZG 2

■ METRIC PARITY

LAST: $30.96 (-0.10%) • MKT CAP: $6.97B

valuation

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LAST: $31.89 (-0.65%) • MKT CAP: $7.22B

valuation

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15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (Z VS. ZG) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	Z	ZG	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	74.10%	74.10%	0.00	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	-0.60%	-0.70%	+0.10	Z	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	3.37%	3.26%	+0.11	Z	/fcf-yield <GO>
Operating Margin	-1.30%	-1.30%	0.00	TIE	/operating-margins <GO>
Net Profit Margin	0.90%	0.90%	0.00	TIE	/net-margins <GO>
Revenue Growth (YoY)	15.50%	15.50%	0.00	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	5.50	5.69	-0.19	ZG	/balance-sheet <GO>
Piotroski F-Score Quality	9/9	8/9	+1.00	Z	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	50.9	50.8	+0.13	Z	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	0.88	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$6.97B	$7.22B	-$249.6M	ZG	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	Z REV	ZG REV	Z GROSS %	ZG GROSS %	Z FCF	ZG FCF
FY 2025	$2.58B	$2.58B	74.1%	74.1%	$235.0M	$235.0M
FY 2024	$2.24B	$2.24B	76.4%	76.4%	$285.0M	$285.0M
FY 2023	$1.95B	$1.95B	—	—	$266.5M	$354.0M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

Z // BETA 0.88

ZG // BETA —