Zillow Group, Inc.

DB:0ZG Stock Report

Market Cap: €18.6b

Zillow Group Valuation

Is 0ZG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0ZG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0ZG (€75.2) is trading below our estimate of fair value (€90.86)

Significantly Below Fair Value: 0ZG is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0ZG?

Key metric: As 0ZG is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 0ZG. This is calculated by dividing 0ZG's market cap by their current revenue.
What is 0ZG's PS Ratio?
PS Ratio8.8x
SalesUS$2.16b
Market CapUS$19.38b

Price to Sales Ratio vs Peers

How does 0ZG's PS Ratio compare to its peers?

The above table shows the PS ratio for 0ZG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4.3x
VNA Vonovia
4x-12.3%€24.8b
DWNI Deutsche Wohnen
6.3xn/a€9.5b
LEG LEG Immobilien
4.6x-14.2%€6.5b
AT1 Aroundtown
2.2x2.8%€3.1b
0ZG Zillow Group
8.8x11.9%€19.4b

Price-To-Sales vs Peers: 0ZG is expensive based on its Price-To-Sales Ratio (8.8x) compared to the peer average (4.3x).

Price to Sales Ratio vs Industry

How does 0ZG's PS Ratio compare vs other companies in the DE Real Estate Industry?

10 CompaniesPrice / SalesEstimated GrowthMarket Cap
DIC Branicks Group
0.7x-21.8%US$194.06m
DMRE DEMIRE Deutsche Mittelstand Real Estate
0.5x-42.0%US$85.70m
ADJ Adler Group
0.1xn/aUS$48.82m
NUVA Noratis
0.3x16.6%US$15.84m
0ZG 8.8xIndustry Avg. 3.7xNo. of Companies10PS02.85.68.411.214+
10 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 0ZG is expensive based on its Price-To-Sales Ratio (8.8x) compared to the German Real Estate industry average (3.7x).

Price to Sales Ratio vs Fair Ratio

What is 0ZG's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0ZG PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio8.8x
Fair PS Ratio7.5x

Price-To-Sales vs Fair Ratio: 0ZG is expensive based on its Price-To-Sales Ratio (8.8x) compared to the estimated Fair Price-To-Sales Ratio (7.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 0ZG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€75.20
€67.42
-10.3%
16.6%€87.29€44.59n/a23
Nov ’25€53.10
€56.45
+6.3%
19.2%€83.44€33.38n/a23
Oct ’25€54.56
€53.45
-2.0%
17.0%€71.88€32.35n/a23
Sep ’25€47.80
€51.11
+6.9%
15.5%€63.20€32.50n/a22
Aug ’25€42.92
€49.75
+15.9%
17.2%€64.59€32.29n/a22
Jul ’25€40.98
€50.08
+22.2%
16.9%€65.54€32.77n/a23
Jun ’25€34.34
€49.26
+43.5%
17.3%€64.38€32.19n/a23
May ’25€39.94
€56.63
+41.8%
15.2%€72.02€37.41n/a23
Apr ’25€45.38
€56.66
+24.9%
15.0%€72.56€36.74n/a24
Mar ’25€49.67
€57.15
+15.1%
14.5%€73.09€37.01n/a24
Feb ’25€50.66
€50.36
-0.6%
21.3%€72.68€29.44n/a23
Jan ’25€51.86
€45.45
-12.4%
18.6%€61.81€29.08n/a23
Dec ’24€35.80
€43.56
+21.7%
14.8%€53.84€29.20n/a22
Nov ’24€33.25
€51.25
+54.1%
17.0%€64.25€34.02€53.1021
Oct ’24€42.39
€52.22
+23.2%
14.6%€62.04€32.85€54.5621
Sep ’24€47.37
€52.22
+10.2%
14.6%€62.04€32.85€47.8021
Aug ’24€48.01
€48.89
+1.8%
17.1%€59.11€27.28€42.9221
Jul ’24€44.73
€46.28
+3.5%
18.3%€59.57€27.49€40.9822
Jun ’24€41.62
€45.90
+10.3%
18.2%€58.97€27.22€34.3422
May ’24€37.49
€45.49
+21.3%
18.5%€59.25€27.35€39.9422
Apr ’24€38.32
€46.92
+22.5%
18.7%€61.77€31.34€45.3819
Mar ’24€38.65
€46.52
+20.4%
22.0%€63.33€22.68€49.6721
Feb ’24€39.05
€35.77
-8.4%
21.2%€47.86€22.09€50.6619
Jan ’24€28.83
€35.53
+23.3%
22.9%€48.92€20.70€51.8620
Dec ’23€35.42
€36.33
+2.6%
22.1%€51.88€21.95€35.8018
Nov ’23€31.30
€40.32
+28.8%
26.1%€55.67€22.27€33.2518

Analyst Forecast: Target price is lower than the current share price.

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