(ZAL) Zalando SE - Overview
Sector: Consumer Cyclical | Industry: Internet Retail | Exchange: XETRA (Germany) | Market Cap: 5.380m EUR | Total Return: -32.8% in 12m
Avg Turnover: 32.4M
EPS Trend: 84.1%
Qual. Beats: -2
Rev. Trend: 86.9%
Qual. Beats: 0
Warnings
Choppy
Tailwinds
No distinct edge detected
Zalando SE is a Berlin-based e-commerce leader specializing in fashion and lifestyle products across Germany and international markets. The company utilizes a dual-segment model, operating in both Business-to-Consumer (B2C) and Business-to-Business (B2B) capacities to manage the retail, marketing, and distribution of apparel, footwear, and beauty items.
The business functions as a platform-based retailer, leveraging a partner program that allows third-party brands to sell directly through the Zalando interface while utilizing the company’s logistics infrastructure. As part of the Internet & Direct Marketing Retail sector, Zalando maintains high capital expenditure requirements for automated fulfillment centers to support its policy of free deliveries and returns.
For a deeper dive into the companys valuation metrics, consider reviewing the latest data on ValueRay. This integrated approach combines traditional inventory-heavy retail with a high-margin marketplace model to scale its presence across the European digital landscape.
- Direct-to-consumer demand recovery in core DACH markets drives revenue growth
- Logistics-as-a-service expansion improves long-term business-to-business operating margins
- High return rates and shipping costs pressure overall profitability
- European consumer discretionary spending shifts impact gross merchandise volume
- Inventory management efficiency remains critical for maintaining sustainable cash flows
| Net Income: 117.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA 1.78 > 1.0 |
| NWC/Revenue: 3.19% < 20% (prev 13.72%; Δ -10.53% < -1%) |
| CFO/TA 0.10 > 3% & CFO 831.1m > Net Income 117.5m |
| Net Debt (1.11b) to EBITDA (978.0m): 1.13 < 3 |
| Current Ratio: 1.09 > 1.5 & < 3 |
| Outstanding Shares: last quarter (258.2m) vs 12m ago 4.31% < -2% |
| Gross Margin: 39.85% > 18% (prev 0.41%; Δ 3.94k% > 0.5%) |
| Asset Turnover: 153.7% > 50% (prev 132.6%; Δ 21.07% > 0%) |
| Interest Coverage Ratio: 7.46 > 6 (EBITDA TTM 978.0m / Interest Expense TTM 72.4m) |
| A: 0.05 (Total Current Assets 5.00b - Total Current Liabilities 4.59b) / Total Assets 8.71b |
| B: 0.14 (Retained Earnings 1.19b / Total Assets 8.71b) |
| C: 0.06 (EBIT TTM 539.8m / Avg Total Assets 8.41b) |
| D: 0.24 (Book Value of Equity 1.46b / Total Liabilities 6.01b) |
| Altman-Z'' = 1.44 = BB |
| DSRI: 0.85 (Receivables 955.8m/933.4m, Revenue 12.9b/10.8b) |
| GMI: 1.03 (GM 39.85% / 40.85%) |
| AQI: 2.84 (AQ_t 0.20 / AQ_t-1 0.07) |
| SGI: 1.20 (Revenue 12.9b / 10.8b) |
| TATA: -0.08 (NI 117.5m - CFO 831.1m) / TA 8.71b) |
| Beneish M = -1.97 (Cap -4..+1) = B |
As of May 25, 2026, the stock is trading at EUR 20.84 with a total of 1,427,287 shares traded.
Over the past week, the price has changed by +7.78%,
over one month by -5.01%,
over three months by +2.26% and
over the past year by -32.82%.
Zalando SE has no consensus analysts rating.
P/E Trailing = 25.4146
P/E Forward = 15.4799
P/S = 0.4163
P/B = 1.8865
P/EG = 0.6682
Revenue TTM = 12.9b EUR
EBIT TTM = 539.8m EUR
EBITDA TTM = 978.0m EUR
Long Term Debt = 481.2m EUR (from longTermDebt, last fiscal year)
Short Term Debt = 175.5m EUR (from shortTermDebt, last quarter)
Debt = 2.37b EUR (from shortLongTermDebtTotal, last quarter) + Leases 960.4m
Net Debt = 1.11b EUR (calculated: Debt 2.37b - CCE 1.26b)
Enterprise Value = 6.49b EUR (5.38b + Debt 2.37b - CCE 1.26b)
Interest Coverage Ratio = 7.46 (Ebit TTM 539.8m / Interest Expense TTM 72.4m)
EV/FCF = 10.08x (Enterprise Value 6.49b / FCF TTM 643.5m)
FCF Yield = 9.92% (FCF TTM 643.5m / Enterprise Value 6.49b)
FCF Margin = 4.98% (FCF TTM 643.5m / Revenue TTM 12.9b)
Net Margin = 0.91% (Net Income TTM 117.5m / Revenue TTM 12.9b)
Gross Margin = 39.85% ((Revenue TTM 12.9b - Cost of Revenue TTM 7.77b) / Revenue TTM)
Gross Margin QoQ = 39.10% (prev 39.92%)
Tobins Q-Ratio = 0.74 (Enterprise Value 6.49b / Total Assets 8.71b)
Interest Expense / Debt = 3.06% (Interest Expense 72.4m / Debt 2.37b)
Taxrate = 40.65% (145.7m / 358.4m)
NOPAT = 320.4m (EBIT 539.8m * (1 - 40.65%))
Current Ratio = 1.09 (Total Current Assets 5.00b / Total Current Liabilities 4.59b)
Debt / Equity = 0.88 (Debt 2.37b / totalStockholderEquity, last quarter 2.70b)
Debt / EBITDA = 1.13 (Net Debt 1.11b / EBITDA 978.0m)
Debt / FCF = 1.72 (Net Debt 1.11b / FCF TTM 643.5m)
Total Stockholder Equity = 2.79b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.40% (Net Income 117.5m / Total Assets 8.71b)
RoE = 4.22% (Net Income TTM 117.5m / Total Stockholder Equity 2.79b)
RoCE = 16.52% (EBIT 539.8m / Capital Employed (Equity 2.79b + L.T.Debt 481.2m))
RoIC = 7.69% (NOPAT 320.4m / Invested Capital 4.17b)
WACC = 6.09% (E(5.38b)/V(7.75b) * Re(7.97%) + D(2.37b)/V(7.75b) * Rd(3.06%) * (1-Tc(0.41)))
Discount Rate = 7.97% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -51.11 | Cagr: -0.70%
[DCF] Terminal Value 77.97% ; FCFF base≈568.1m ; Y1≈651.2m ; Y5≈958.4m
[DCF] Fair Price = 51.57 (EV 14.4b - Net Debt 1.11b = Equity 13.3b / Shares 258.2m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 84.15 | EPS CAGR: 34.81% | SUE: -1.20 | # QB: -2
Revenue Correlation: 86.90 | Revenue CAGR: 8.18% | SUE: 0.0 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.43 | Chg30d=+0.42% | Revisions=+20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.43 | Chg30d=+0.42% | Revisions=+20% | Analysts=1
EPS current Year (2026-12-31): EPS=1.52 | Chg30d=-1.02% | Revisions=-14% | GrowthEPS=+17.7% | GrowthRev=+13.4%
EPS next Year (2027-12-31): EPS=1.86 | Chg30d=-2.48% | Revisions=-14% | GrowthEPS=+22.4% | GrowthRev=+6.1%
[Analyst] Revisions Ratio: +20%