Company name:

Zillow Inc

  • IPO SHARE PRICE:
    $20.00
  • IPO DATE:
    July 20, 2011
  • TICKER:
    Z
  • MAIN STOCK EXCHANGE:
    NASDAQ
  • CURRENT HQ LOCATION:
    1301 Second Avenue Floor 31 Seattle Washington 98101
  • FISCAL YEAR END:
    December 31
  • INCORPORATION JURISDICTION:
    WA
  • ORGANIZED AS THE FOLLOWING LEGAL TYPE:
    Corporation
  • Investor Relations Webpage:
    Coming soon!
  • TAX RATE:
    USA federal corporate nominal income tax rate is 21%

Short Description

Zillow Inc

Owner of the largest US website by number of unique users and visitors for buying, selling, and renting homes - zillow.com. Zillow was founded in 2006 as result of a major push to open access to MLS (multiple listing service) data controlled by National Association of Realtors (NAR).

Untill November 2, 2021 Zillow had three main business lines: IMT - operator of zillow.com, Homes - house-flipping (iBuyer) business called Zillow Offers, Mortgages - mortgage originations. On November 2, 2021 Zillow exited house-flipping business with large losses.

Business model: IMT business called Premier Agent charges realtors a fee for posting home selling ads on zillow.com. In short, it's a play on real-estate related advertising paid for by realtors who want to increase traffic to properties they try to sell or rent.

Competitors: Realtor.com, Redfin, regional RE MLS websites.

Statement of Cash Flow

Quarterly Annual
(USD in thousand)
Selected Year:
31-Dec
2021
OPERATING ACTIVITIES
Cash received and spent on operating activites of business — buying materials, paying salaries, receiving payments from clients, etc
8.9% - Inventory valuation adjustment
6.8% - Stock-based compensation
4.9% - Mortgage loans held for sale
2.8% - Depreciation and amortization
2.3% - Amortization of debt original issue discount and issuance cost
1.3% - Accrued expenses and other liabilities
1.2% - Impairment and restructuring costs
0.9% - Amortization of contract cost assets
0.5% - Amortization of right-of-use assets
0.4% - (Gain) loss on repayment of debt
0.3% - Other non-cash adjustments
0.3% - Accrued compensation and employee benefits
0.1% - Accounts payable
0.0% - Deferred revenue
SOURCEs
69.2% 4.9% 8.9% 6.8%
100 %
0%
USES
83.4% 11.5%
83.4% - Inventory
11.5% - Net income (loss)
1.8% - Accounts receivable
1.8% - Prepaid expenses and other assets
0.6% - Lease liabilities
0.6% - Contract cost assets
0.2% - Other liabilities
0.1% - Deferred income taxes
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Net income (loss)
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 ($305,361) ($162,115) ($527,777) ($527,777) ($1,044,832)
Depreciation and amortization
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 87,467 110,031 129,780 129,780 166,608
Amortization of contract cost assets
-
-
-
-
-
-
-
$45,679
$45,679
$45,679
 35,323 36,494 41,577 41,577 38,812
Amortization of right-of-use assets
-
-
-
-
-
-
-
-
-
-
 23,142 24,338 22,705 22,705 20,380
Amortization of bond premium
-
-
$45,679
$45,679
$45,679
$45,679
$45,679
-
-
-
 - - - - -
Amortization of debt original issue discount and issuance cost Amortization of debt original issue discount and issuance cost
-
-
-
-
-
-
-
-
-
-
 52,097 102,401 104,437 104,437 128,888
Amortization of discount and issuance costs on notes
-
-
-
-
-
$45,679
$45,679
$45,679
$45,679
$45,679
 52,097 (1,448) - - -
Facility exit charge
$45,679
$45,679
$45,679
-
-
-
-
-
-
-
 - - - - -
Stock-based compensation
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 198,902 197,550 311,686 311,686 320,852
Provision for (recovery of) bad debt expense
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 2,772 - - - -
(Accretion) amortization of bond discount premium
$45,679
$45,679
-
-
-
-
-
$45,679
$45,679
$45,679
 (6,344) 2,141 - - -
Deferred income taxes
-
-
-
-
-
-
$45,679
$45,679
$45,679
$45,679
 (4,258) (7,523) (2,746) (2,746) 1,816
Deferred tax valuation allowance release
-
-
$45,679
$45,679
$45,679
$45,679
-
-
-
-
 - - - - -
Inventory valuation adjustment
-
-
-
-
-
-
-
-
-
-
 - - 407,921 407,921 414,248
Asset impairments
-
-
-
-
-
-
$45,679
$45,679
$45,679
$45,679
 - 76,800 - - -
Impairment of acquired intangible assets
-
-
-
$45,679
$45,679
$45,679
-
-
-
-
 - - - - -
(Gain) loss on sale of property and equipment
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 - - - - -
(Gain) loss on sale of property equipment and other assets (Gain) loss on sale of property equipment and other assets
-
-
-
-
-
-
-
-
$45,679
$45,679
 7,174 (402) - - -
(Gain) loss on sale of business
-
-
-
-
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 - - - - -
Impairment and restructuring costs
-
-
-
-
-
-
-
-
-
-
 - 76,800 56,828 56,828 227,312
Credit loss
-
-
-
-
-
-
-
-
-
$45,679
 2,772 2,650 - - -
(Gain) loss on investment securities
-
-
-
-
-
-
-
-
-
-
 (57) 372 - - -
(Gain) loss on repayment of debt
-
-
-
-
-
$45,679
$45,679
$45,679
$45,679
$45,679
 - (1,448) 17,119 17,119 -
Non-cash restructuring costs
-
-
-
-
$45,679
$45,679
-
-
-
-
 - - - - -
Other non-cash adjustments
-
-
-
-
-
-
-
-
-
-
 3,602 4,761 15,249 15,249 9,744
Accounts receivable
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 (3,694) (5,585) (82,312) (82,312) 25,224
Inventory
-
-
-
-
-
-
-
$45,679
$45,679
$45,679
 (673,798) 345,277 (3,826,713) (3,826,713) (1,026,536)
Prepaid expenses and other assets
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 (978) (15,957) (81,614) (81,614) (45,440)
Contract cost assets
-
-
-
-
-
-
-
$45,679
$45,679
$45,679
 (34,713) (42,004) (26,323) (26,323) (15,772)
Accounts payable
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 (496) 12,972 4,699 4,699 (52,768)
Mortgage loans held for sale
-
-
-
-
-
-
-
$45,679
$45,679
$45,679
 (1,098) (294,251) 223,990 223,990 458,488
Accrued expenses
$45,679
$45,679
$45,679
$45,679
-
-
-
-
-
-
 - - - - -
Accrued compensation and employee benefits
-
-
-
-
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 6,417 9,861 13,203 13,203 8,904
Accrued expenses and other liabilities
-
-
-
-
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 19,573 15,321 61,462 61,462 (406,088)
Deferred rent
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 - - - - -
Deferred revenue
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 5,667 9,248 789 789 (10,864)
Lease liabilities
-
-
-
-
-
-
-
-
-
-
 (18,940) (2,149) (29,276) (29,276) (34,404)
Other liabilities
-
-
-
-
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 (1,028) 10,175 (11,378) (11,378) (46,064)
Net cash provided by (used in) operating activities
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 ($612,174) $424,197 ($3,176,694) ($3,176,694) ($861,492)
Selected Year:
31-Dec
2021
INVESTING ACTIVITIES
Cash spent on acquiring plant, equipment and other businesses, cash recei0 from sale of plant, equipment and subsidiaries as well cash parked temporarily in different securities - government bonds typically
100.0% - Maturities of investment securities
SOURCEs
100.0%
100 %
0%
USES
49.3% 3.3% 23.4% 22.5%
23.4% - Purchases of investment securities
22.5% - Acquisitions
3.3% - (Purchase) sale of property and equipment
1.4% - Purchases of intangible assets
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
(Purchases) sale of investment securities
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 - - - - -
Sale of investment securities
-
-
-
-
-
-
-
-
-
$45,679
 - 116,394 - - -
Purchases of investment securities
-
-
-
-
-
-
-
-
$45,679
$45,679
 (1,495,477) (3,287,071) (516,346) (516,346) (29,296)
Maturities of investment securities
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 1,126,058 2,230,705 2,206,344 2,206,344 2,041,068
(Purchases) sale of equity securities
-
-
-
-
-
-
-
$45,679
$45,679
$45,679
 - 10,000 - - -
Decrease in restricted cash net of amounts assumed in connection with an acquisition Decrease in restricted cash net of amounts assumed in connection with an acquisition
-
-
-
-
$45,679
$45,679
$45,679
-
-
-
 - - - - -
(Purchases) sales of cost-method investments
-
-
-
-
-
$45,679
$45,679
-
-
-
 - - - - -
(Purchase) sale of property and equipment
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 (67,044) (84,940) (73,305) (73,305) (111,456)
Purchases of intangible assets
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 (19,591) (23,577) (31,094) (31,094) (27,140)
Acquisitions
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 - - (497,320) (497,320) (2,316)
Sale of businesses
-
-
-
-
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 - - - - -
Cash acquired in acquisition net
-
-
-
-
$45,679
$45,679
$45,679
-
-
-
 - - - - -
Net cash provided by (used in) investing activities
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 ($456,054) ($1,038,489) $1,088,279 $1,088,279 $1,870,860
Selected Year:
31-Dec
2021
FINANCING ACTIVITIES
Items in this group are concerned with borrowing funds, repaying debt, issuing equity, buying back shares, etc.
66.7% - Borrowing under Revolving Credit Facility
21.0% - Borrowing under Term Loan
10.0% - Issuance of Class C Capital Stock
2.3% - Issuance of common stock from exercise of stock options
SOURCEs
21.0% 66.7% 10.0%
100 %
0%
USES
58.0% 3.6% 32.8% 5.6%
32.8% - Repayment of Revolving Credit Facility
5.6% - Repurchases of common stock - Class C
3.6% - Net borrowing (repayment) on Warehouse revolving credit facility and repurchase agreement
0.0% - Repayment of convertible senior notes
0.0% - Equity awards withheld and paid for tax liabilities
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Initial Public Offering (IPO) net
$45,679
-
-
-
-
-
-
-
-
-
 - - - - -
Public equity offering
-
$45,679
$45,679
$45,679
$45,679
-
-
-
-
-
 - - - - -
Issuance of Class C Capital Stock
-
-
-
-
-
-
-
$45,679
$45,679
$45,679
 - 411,522 544,557 544,557 -
Proceeds from concurrent private placement
$45,679
-
$45,679
-
-
-
-
-
-
-
 - - - - -
Issuance of common stock from exercise of stock options Issuance of common stock from exercise of stock options
-
-
-
-
-
-
-
-
-
$45,679
 65,465 444,028 127,222 127,222 118,688
Proceeds from issuance of common stock upon exercise of stock options Proceeds from issuance of common stock upon exercise of stock options
-
-
-
-
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 65,465 - - - -
Proceeds from issuance of stock upon exercise of Class A common stock options Proceeds from issuance of stock upon exercise of Class A common stock options
$45,679
$45,679
$45,679
$45,679
-
-
-
-
-
-
 - - - - -
Borrowing under Revolving Credit Facility
-
-
-
-
-
-
-
$45,679
$45,679
$45,679
 688,489 348,684 3,618,299 3,618,299 3,915,324
Repayment of Revolving Credit Facility
-
-
-
-
-
-
-
-
-
-
 (113,665) (679,042) (1,779,869) (1,779,869) (4,980,976)
Borrowing (repayment) under Warehouse Revolving Credit Facility Borrowing (repayment) under Warehouse Revolving Credit Facility
-
-
-
-
-
-
-
$45,679
$45,679
$45,679
 - - - - -
Net borrowing (repayment) on Warehouse revolving credit facility and repurchase agreement Net borrowing (repayment) on Warehouse revolving credit facility and repurchase agreement
-
-
-
-
-
-
-
-
-
$45,679
 (2,590) 278,616 (197,083) (197,083) (385,464)
Borrowing under Term Loan
-
-
-
-
-
-
-
-
-
-
 - - 1,138,227 1,138,227 2,779,312
Issuance of notes
-
-
-
-
-
$45,679
-
$45,679
$45,679
$45,679
 - - - - -
Early repayment of notes
-
-
-
-
-
-
-
-
-
-
 - (194,768) - - -
Partial repurchase of notes
-
-
-
-
-
$45,679
-
$45,679
$45,679
$45,679
 - - - - -
Issuance of senior convertible notes
-
-
-
-
-
-
-
-
-
-
 1,157,675 553,282 - - -
Repayment of convertible senior notes
-
-
-
-
-
-
-
-
-
-
 - (194,768) (1,297) (1,297) -
Issuance of Convertible Notes
-
-
-
-
-
-
-
-
-
$45,679
 1,157,675 553,282 - - -
Contingent merger consideration
-
-
-
-
-
-
-
$45,679
$45,679
$45,679
 - - - - -
Equity awards withheld and paid for tax liabilities
-
-
-
-
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 (3) (4) (129) (129) (4)
Repurchases of common stock - Class C
-
-
-
-
-
-
-
-
-
-
 - - (302,297) (302,297) (1,209,188)
Premiums paid for capped call confirmations
-
-
-
-
-
$45,679
-
$45,679
$45,679
$45,679
 (159,677) - - - -
Net cash provided by (used in) financing activities
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 $1,635,694 $1,162,318 $3,147,630 $3,147,630 $237,692
Selected Year:
31-Dec
2021
NET CHANGE IN CASH
Grand Total for sum of cash flows coming from operations, investing and financing
$1,059,215,000
Selected Year:
Last Twelve Months LTM
Last Quarter Annualized LQA
Cash and equivalents - Beginning of period
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 $663,443 $1,230,909 $1,778,935 - $10,105,540
(Decrease) increase in cash and cash equivalents
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 567,466 548,026 1,059,215 - 1,247,060
Cash and equivalents - End of period
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
$45,679
 $1,230,909 $1,778,935 $2,838,150 - $11,352,600