(ZAL) Zalando SE - Overview
Exchange: XETRA •
Country: Germany •
Currency: EUR •
Type: Common Stock •
ISIN: DE000ZAL1111
Stock: Shoes, Apparel, Accessories, Beauty, Outlet
Total Rating 22
Risk 42
Buy Signal -1.69
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 59.5% |
| Relative Tail Risk | -6.20% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -1.34 |
| Alpha | -51.60 |
| Character TTM | |
|---|---|
| Beta | 0.397 |
| Beta Downside | 0.711 |
| Drawdowns 3y | |
|---|---|
| Max DD | 58.29% |
| CAGR/Max DD | -0.32 |
Description: ZAL Zalando SE January 06, 2026
Zalando SE (XETRA:ZAL) runs an online fashion and lifestyle marketplace headquartered in Berlin, serving both Business-to-Consumer (B2C) shoppers and Business-to-Business (B2B) partners. Its portfolio spans shoes, apparel, accessories, and beauty items, offered with free delivery and returns, multiple payment methods, and additional sales channels such as the “Lounge by Zalando” concept and outlet stores.
Key recent metrics: FY 2023 net revenue reached €10.5 billion, up 12 % YoY, driven by a 15 % increase in active customers to ~38 million and a modest rise in average order value to €78. Core sector drivers include continued consumer migration to e-commerce, heightened demand for sustainable fashion, and the competitive pressure of logistics cost inflation across Europe.
For a deeper quantitative assessment, consult ValueRay’s detailed valuation model for Zalando.
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income: 241.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -6.53 > 1.0 |
| NWC/Revenue: 4.96% < 20% (prev 13.29%; Δ -8.33% < -1%) |
| CFO/TA 0.07 > 3% & CFO 610.8m > Net Income 241.3m |
| Net Debt (120.8m) to EBITDA (838.6m): 0.14 < 3 |
| Current Ratio: 1.12 > 1.5 & < 3 |
| Outstanding Shares: last quarter (246.7m) vs 12m ago -5.34% < -2% |
| Gross Margin: 40.37% > 18% (prev 0.40%; Δ 3997 % > 0.5%) |
| Asset Turnover: 135.8% > 50% (prev 128.4%; Δ 7.41% > 0%) |
| Interest Coverage Ratio: 5.84 > 6 (EBITDA TTM 838.6m / Interest Expense TTM 77.7m) |
Altman Z'' 0.82
| A: 0.06 (Total Current Assets 5.29b - Total Current Liabilities 4.72b) / Total Assets 9.00b |
| B: 0.00 (Retained Earnings 2.60m / Total Assets 9.00b) |
| C: 0.05 (EBIT TTM 454.1m / Avg Total Assets 8.52b) |
| D: 0.04 (Book Value of Equity 267.2m / Total Liabilities 6.13b) |
| Altman-Z'' Score: 0.82 = B |
Beneish M -1.78
| DSRI: 0.94 (Receivables 981.8m/934.4m, Revenue 11.57b/10.33b) |
| GMI: 0.99 (GM 40.37% / 40.00%) |
| AQI: 3.13 (AQ_t 0.19 / AQ_t-1 0.06) |
| SGI: 1.12 (Revenue 11.57b / 10.33b) |
| TATA: -0.04 (NI 241.3m - CFO 610.8m) / TA 9.00b) |
| Beneish M-Score: -1.78 (Cap -4..+1) = B |
What is the price of ZAL shares?
As of February 07, 2026, the stock is trading at EUR 21.29 with a total of 1,581,009 shares traded.
Over the past week, the price has changed by -12.53%, over one month by -12.89%, over three months by -11.81% and over the past year by -42.69%.
Over the past week, the price has changed by -12.53%, over one month by -12.89%, over three months by -11.81% and over the past year by -42.69%.
Is ZAL a buy, sell or hold?
Zalando SE has no consensus analysts rating.
What are the forecasts/targets for the ZAL price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 36.8 | 72.6% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 17.7 | -16.7% |
ZAL Fundamental Data Overview February 03, 2026
Market Cap USD = 7.45b (6.31b EUR * 1.1801 EUR.USD)
P/E Trailing = 26.4565
P/E Forward = 17.9856
P/S = 0.5456
P/B = 2.2237
P/EG = 0.9473
Revenue TTM = 11.57b EUR
EBIT TTM = 454.1m EUR
EBITDA TTM = 838.6m EUR
Long Term Debt = 478.3m EUR (from longTermDebt, last quarter)
Short Term Debt = 205.0m EUR (from shortTermDebt, last quarter)
Debt = 1.44b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 120.8m EUR (from netDebt column, last quarter)
Enterprise Value = 6.44b EUR (6.31b + Debt 1.44b - CCE 1.32b)
Interest Coverage Ratio = 5.84 (Ebit TTM 454.1m / Interest Expense TTM 77.7m)
EV/FCF = 16.20x (Enterprise Value 6.44b / FCF TTM 397.3m)
FCF Yield = 6.17% (FCF TTM 397.3m / Enterprise Value 6.44b)
FCF Margin = 3.43% (FCF TTM 397.3m / Revenue TTM 11.57b)
Net Margin = 2.08% (Net Income TTM 241.3m / Revenue TTM 11.57b)
Gross Margin = 40.37% ((Revenue TTM 11.57b - Cost of Revenue TTM 6.90b) / Revenue TTM)
Gross Margin QoQ = 39.57% (prev 40.82%)
Tobins Q-Ratio = 0.72 (Enterprise Value 6.44b / Total Assets 9.00b)
Interest Expense / Debt = 1.25% (Interest Expense 18.0m / Debt 1.44b)
Taxrate = 31.77% (116.9m / 368.0m)
NOPAT = 309.8m (EBIT 454.1m * (1 - 31.77%))
Current Ratio = 1.12 (Total Current Assets 5.29b / Total Current Liabilities 4.72b)
Debt / Equity = 0.51 (Debt 1.44b / totalStockholderEquity, last quarter 2.83b)
Debt / EBITDA = 0.14 (Net Debt 120.8m / EBITDA 838.6m)
Debt / FCF = 0.30 (Net Debt 120.8m / FCF TTM 397.3m)
Total Stockholder Equity = 2.74b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.83% (Net Income 241.3m / Total Assets 9.00b)
RoE = 8.79% (Net Income TTM 241.3m / Total Stockholder Equity 2.74b)
RoCE = 14.09% (EBIT 454.1m / Capital Employed (Equity 2.74b + L.T.Debt 478.3m))
RoIC = 8.81% (NOPAT 309.8m / Invested Capital 3.52b)
WACC = 6.17% (E(6.31b)/V(7.75b) * Re(7.38%) + D(1.44b)/V(7.75b) * Rd(1.25%) * (1-Tc(0.32)))
Discount Rate = 7.38% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -100.0 | Cagr: -3.02%
[DCF Debug] Terminal Value 79.36% ; FCFF base≈590.6m ; Y1≈387.7m ; Y5≈176.9m
Fair Price DCF = 19.59 (EV 5.20b - Net Debt 120.8m = Equity 5.08b / Shares 259.4m; r=6.17% [WACC]; 5y FCF grow -40.0% → 2.90% )
EPS Correlation: 30.71 | EPS CAGR: -36.53% | SUE: -0.77 | # QB: 0
Revenue Correlation: 19.04 | Revenue CAGR: -0.69% | SUE: 0.01 | # QB: 0
EPS next Year (2026-12-31): EPS=1.53 | Chg30d=-0.026 | Revisions Net=-2 | Growth EPS=+24.7% | Growth Revenue=+14.0%
P/E Trailing = 26.4565
P/E Forward = 17.9856
P/S = 0.5456
P/B = 2.2237
P/EG = 0.9473
Revenue TTM = 11.57b EUR
EBIT TTM = 454.1m EUR
EBITDA TTM = 838.6m EUR
Long Term Debt = 478.3m EUR (from longTermDebt, last quarter)
Short Term Debt = 205.0m EUR (from shortTermDebt, last quarter)
Debt = 1.44b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 120.8m EUR (from netDebt column, last quarter)
Enterprise Value = 6.44b EUR (6.31b + Debt 1.44b - CCE 1.32b)
Interest Coverage Ratio = 5.84 (Ebit TTM 454.1m / Interest Expense TTM 77.7m)
EV/FCF = 16.20x (Enterprise Value 6.44b / FCF TTM 397.3m)
FCF Yield = 6.17% (FCF TTM 397.3m / Enterprise Value 6.44b)
FCF Margin = 3.43% (FCF TTM 397.3m / Revenue TTM 11.57b)
Net Margin = 2.08% (Net Income TTM 241.3m / Revenue TTM 11.57b)
Gross Margin = 40.37% ((Revenue TTM 11.57b - Cost of Revenue TTM 6.90b) / Revenue TTM)
Gross Margin QoQ = 39.57% (prev 40.82%)
Tobins Q-Ratio = 0.72 (Enterprise Value 6.44b / Total Assets 9.00b)
Interest Expense / Debt = 1.25% (Interest Expense 18.0m / Debt 1.44b)
Taxrate = 31.77% (116.9m / 368.0m)
NOPAT = 309.8m (EBIT 454.1m * (1 - 31.77%))
Current Ratio = 1.12 (Total Current Assets 5.29b / Total Current Liabilities 4.72b)
Debt / Equity = 0.51 (Debt 1.44b / totalStockholderEquity, last quarter 2.83b)
Debt / EBITDA = 0.14 (Net Debt 120.8m / EBITDA 838.6m)
Debt / FCF = 0.30 (Net Debt 120.8m / FCF TTM 397.3m)
Total Stockholder Equity = 2.74b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.83% (Net Income 241.3m / Total Assets 9.00b)
RoE = 8.79% (Net Income TTM 241.3m / Total Stockholder Equity 2.74b)
RoCE = 14.09% (EBIT 454.1m / Capital Employed (Equity 2.74b + L.T.Debt 478.3m))
RoIC = 8.81% (NOPAT 309.8m / Invested Capital 3.52b)
WACC = 6.17% (E(6.31b)/V(7.75b) * Re(7.38%) + D(1.44b)/V(7.75b) * Rd(1.25%) * (1-Tc(0.32)))
Discount Rate = 7.38% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -100.0 | Cagr: -3.02%
[DCF Debug] Terminal Value 79.36% ; FCFF base≈590.6m ; Y1≈387.7m ; Y5≈176.9m
Fair Price DCF = 19.59 (EV 5.20b - Net Debt 120.8m = Equity 5.08b / Shares 259.4m; r=6.17% [WACC]; 5y FCF grow -40.0% → 2.90% )
EPS Correlation: 30.71 | EPS CAGR: -36.53% | SUE: -0.77 | # QB: 0
Revenue Correlation: 19.04 | Revenue CAGR: -0.69% | SUE: 0.01 | # QB: 0
EPS next Year (2026-12-31): EPS=1.53 | Chg30d=-0.026 | Revisions Net=-2 | Growth EPS=+24.7% | Growth Revenue=+14.0%