ZAL Stock Analysis: Zalando SE | XETRA
Internet Retail | XETRA, Germany | Market Cap: 7.073m EUR | 12M Return: -6.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 31.9M
EPS Trend: 84.1%
Qual. Beats: -2
Rev. Trend: 86.9%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Zalando SE is a Germany-based online retailer of fashion and lifestyle products, founded in 2008 and headquartered in Berlin. It sells shoes, apparel, accessories, and beauty products directly to consumers (B2C) and partners (B2B), operating its main platform alongside the outlet format Lounge by Zalando. The company offers free delivery and returns along with multiple payment options, which are standard customer-acquisition features in European online fashion retail.
The company is classified within the Consumer Discretionary sector under the GICS sub-industry Internet & Direct Marketing Retail, a segment covering pure-play e-commerce platforms and online marketplaces. Its dual B2B/B2C structure allows it to generate revenue both through direct retail and through commission-based sales of third-party brands, a model common among large European fashion marketplaces.
- B2B Marketing Services revenue grows double digits on platform monetization
- Gross merchandise volume growth decelerates amid weak European discretionary spending
- Shein and Temu intensify price competition pressuring fashion retail margins
| 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 (1.01b) to EBITDA (978.0m): 1.03 < 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 40.85%; Δ -1.00% > 0.5%) |
| Asset Turnover: 153.7% > 50% (prev 132.6%; Δ 21.07% > 0%) |
| Interest Coverage Ratio: 7.46 > 6 (EBIT TTM 539.8m / 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: 0.45 (Book Value of Equity 2.70b / Total Liabilities 6.01b) |
| Altman-Z'' = 1.66 = BB |
| DSRI: 0.85 (Receivables 955.8m/933.4m, Revenue 12.9b/10.8b) |
| GMI: 1.03 (GM 40.85% / 39.85%) |
| 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 = -1.90 (Cap -4..+1) = B |
As of July 11, 2026, the stock is trading at EUR 26.95 with a total of 861,738 shares traded. Over the past week, the price has changed by -0.30%, over one month by +7.16%, over three months by +22.61% and over the past year by -6.59%.
Current recommended Stop Loss: 24.60 (which is 8.7% or 2.2 ATR below the current price).
Zalando SE has no consensus analysts rating.
P/E Trailing = 62.2727
P/E Forward = 25.2525
P/S = 0.5474
P/B = 2.5865
P/EG = 1.0912
Revenue TTM = 12.9b EUR
EBIT TTM = 539.8m EUR
EBITDA TTM = 978.0m EUR
Long Term Debt = 484.1m EUR (from longTermDebt, last quarter)
Short Term Debt = 175.5m EUR (from shortTermDebt, last quarter)
Debt = 2.33b EUR (from shortLongTermDebtTotal, last quarter) + Leases 923.5m
Net Debt = 1.01b EUR (calculated: Debt 2.33b - CCE 1.32b)
Enterprise Value = 8.09b EUR (7.07b + Debt 2.33b - CCE 1.32b)
Interest Coverage Ratio = 7.46 (Ebit TTM 539.8m / Interest Expense TTM 72.4m)
EV/FCF = 12.56x (Enterprise Value 8.09b / FCF TTM 643.5m)
FCF Yield = 7.96% (FCF TTM 643.5m / Enterprise Value 8.09b)
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 = 0.93 (Enterprise Value 8.09b / Total Assets 8.71b)
Interest Expense / Debt = 3.11% (Interest Expense 72.4m / Debt 2.33b)
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 = 0.86 (Debt 2.33b / totalStockholderEquity, last quarter 2.70b)
Debt / EBITDA = 1.03 (Net Debt 1.01b / EBITDA 978.0m)
Debt / FCF = 1.57 (Net Debt 1.01b / 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 = 16.50% (EBIT 539.8m / Capital Employed (Equity 2.79b + L.T.Debt 484.1m))
RoIC = 8.76% (NOPAT 320.4m / Invested Capital 3.66b)
WACC = 6.08% (E(7.07b)/V(9.40b) * Re(7.48%) + D(2.33b)/V(9.40b) * Rd(3.11%) * (1-Tc(0.41)))
Discount Rate = 7.48% (= 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 = 51.95 (EV 14.4b - Net Debt 1.01b = Equity 13.4b / Shares 258.2m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 84.13 | EPS CAGR: 34.79% | SUE: -1.25 | # 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=+25% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.43 | Chg30d=+0.42% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=1.52 | Chg30d=+0.42% | Revisions=-15% | GrowthEPS=+18.2% | GrowthRev=+13.4%
EPS next Year (2027-12-31): EPS=1.86 | Chg30d=-0.10% | Revisions=-15% | GrowthEPS=+21.8% | GrowthRev=+6.0%
[Analyst] Revisions Ratio: -8% (up=10, down=12)