ZALANDO SE (ZAL.DE) Fundamental Analysis & Valuation

FRA:ZAL • DE000ZAL1111

20.13 EUR
-0.19 (-0.94%)
Last: Mar 9, 2026, 02:11 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This ZAL.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

Taking everything into account, ZAL scores 6 out of 10 in our fundamental rating. ZAL was compared to 58 industry peers in the Specialty Retail industry. ZAL has an excellent profitability rating, but there are some minor concerns on its financial health. ZAL is showing excellent growth while it is valued at reasonable prices. Keep and eye on this one! This makes ZAL very considerable for growth investing!


Dividend Valuation Growth Profitability Health

7

1. ZAL.DE Profitability Analysis

1.1 Basic Checks

  • In the past year ZAL was profitable.
  • In the past year ZAL had a positive cash flow from operations.
  • Each year in the past 5 years ZAL has been profitable.
  • In the past 5 years ZAL always reported a positive cash flow from operatings.
ZAL.DE Yearly Net Income VS EBIT VS OCF VS FCFZAL.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M

1.2 Ratios

  • The Return On Assets of ZAL (2.66%) is better than 60.34% of its industry peers.
  • ZAL has a Return On Equity of 8.44%. This is in the better half of the industry: ZAL outperforms 67.24% of its industry peers.
  • ZAL has a Return On Invested Capital of 5.47%. This is in the better half of the industry: ZAL outperforms 60.34% of its industry peers.
  • ZAL had an Average Return On Invested Capital over the past 3 years of 3.34%. This is significantly below the industry average of 9.79%.
  • The last Return On Invested Capital (5.47%) for ZAL is above the 3 year average (3.34%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 2.66%
ROE 8.44%
ROIC 5.47%
ROA(3y)1.48%
ROA(5y)2.26%
ROE(3y)4.56%
ROE(5y)6.95%
ROIC(3y)3.34%
ROIC(5y)4.59%
ZAL.DE Yearly ROA, ROE, ROICZAL.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

  • The Profit Margin of ZAL (2.06%) is better than 62.07% of its industry peers.
  • In the last couple of years the Profit Margin of ZAL has grown nicely.
  • ZAL's Operating Margin of 3.30% is in line compared to the rest of the industry. ZAL outperforms 53.45% of its industry peers.
  • ZAL's Operating Margin has improved in the last couple of years.
  • ZAL has a better Gross Margin (40.37%) than 60.34% of its industry peers.
  • In the last couple of years the Gross Margin of ZAL has remained more or less at the same level.
Industry RankSector Rank
OM 3.3%
PM (TTM) 2.06%
GM 40.37%
OM growth 3Y-2.26%
OM growth 5Y7.72%
PM growth 3Y1.6%
PM growth 5Y9.08%
GM growth 3Y-0.88%
GM growth 5Y-0.89%
ZAL.DE Yearly Profit, Operating, Gross MarginsZAL.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

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5

2. ZAL.DE Health Analysis

2.1 Basic Checks

  • ZAL has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, ZAL has less shares outstanding
  • ZAL has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, ZAL has an improved debt to assets ratio.
ZAL.DE Yearly Shares OutstandingZAL.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
ZAL.DE Yearly Total Debt VS Total AssetsZAL.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

  • An Altman-Z score of 2.21 indicates that ZAL is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 2.21, ZAL is in line with its industry, outperforming 53.45% of the companies in the same industry.
  • ZAL has a debt to FCF ratio of 3.63. This is a good value and a sign of high solvency as ZAL would need 3.63 years to pay back of all of its debts.
  • ZAL has a Debt to FCF ratio of 3.63. This is in the better half of the industry: ZAL outperforms 70.69% of its industry peers.
  • A Debt/Equity ratio of 0.44 indicates that ZAL is not too dependend on debt financing.
  • ZAL's Debt to Equity ratio of 0.44 is fine compared to the rest of the industry. ZAL outperforms 62.07% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.44
Debt/FCF 3.63
Altman-Z 2.21
ROIC/WACC0.88
WACC6.19%
ZAL.DE Yearly LT Debt VS Equity VS FCFZAL.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B 2.5B

2.3 Liquidity

  • ZAL has a Current Ratio of 1.12. This is a normal value and indicates that ZAL is financially healthy and should not expect problems in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 1.12, ZAL is doing worse than 60.34% of the companies in the same industry.
  • A Quick Ratio of 0.59 indicates that ZAL may have some problems paying its short term obligations.
  • ZAL has a Quick ratio (0.59) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 1.12
Quick Ratio 0.59
ZAL.DE Yearly Current Assets VS Current LiabilitesZAL.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

7

3. ZAL.DE Growth Analysis

3.1 Past

  • ZAL shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 17.72%, which is quite good.
  • The Earnings Per Share has been growing by 23.33% on average over the past years. This is a very strong growth
  • Looking at the last year, ZAL shows a quite strong growth in Revenue. The Revenue has grown by 12.06% in the last year.
  • The Revenue has been growing by 10.28% on average over the past years. This is quite good.
EPS 1Y (TTM)17.72%
EPS 3Y2.91%
EPS 5Y23.33%
EPS Q2Q%-64.71%
Revenue 1Y (TTM)12.06%
Revenue growth 3Y0.7%
Revenue growth 5Y10.28%
Sales Q2Q%26.46%

3.2 Future

  • The Earnings Per Share is expected to grow by 27.92% on average over the next years. This is a very strong growth
  • The Revenue is expected to grow by 10.40% on average over the next years. This is quite good.
EPS Next Y19.66%
EPS Next 2Y23.51%
EPS Next 3Y24.59%
EPS Next 5Y27.92%
Revenue Next Year17.2%
Revenue Next 2Y15.4%
Revenue Next 3Y12.2%
Revenue Next 5Y10.4%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
ZAL.DE Yearly Revenue VS EstimatesZAL.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5B 10B 15B 20B
ZAL.DE Yearly EPS VS EstimatesZAL.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 1 2 3 4

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5

4. ZAL.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • ZAL is valuated rather expensively with a Price/Earnings ratio of 21.65.
  • ZAL's Price/Earnings ratio is a bit cheaper when compared to the industry. ZAL is cheaper than 72.41% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 26.29. ZAL is around the same levels.
  • The Price/Forward Earnings ratio is 13.60, which indicates a correct valuation of ZAL.
  • ZAL's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. ZAL is cheaper than 65.52% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 24.60. ZAL is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 21.65
Fwd PE 13.6
ZAL.DE Price Earnings VS Forward Price EarningsZAL.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • ZAL's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. ZAL is cheaper than 65.52% of the companies in the same industry.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as ZAL.
Industry RankSector Rank
P/FCF 13.39
EV/EBITDA 6.85
ZAL.DE Per share dataZAL.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • ZAL has a very decent profitability rating, which may justify a higher PE ratio.
  • ZAL's earnings are expected to grow with 24.59% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.1
PEG (5Y)0.93
EPS Next 2Y23.51%
EPS Next 3Y24.59%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. ZAL.DE Dividend Analysis

5.1 Amount

  • ZAL does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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ZAL.DE Fundamentals: All Metrics, Ratios and Statistics

ZALANDO SE

FRA:ZAL (3/9/2026, 2:11:00 PM)

20.13

-0.19 (-0.94%)

Chartmill FA Rating
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustrySpecialty Retail
Earnings (Last)11-06
Earnings (Next)03-12
Inst Owners58.44%
Inst Owner ChangeN/A
Ins Owners10.12%
Ins Owner ChangeN/A
Market Cap5.32B
Revenue(TTM)11.57B
Net Income(TTM)239.00M
Analysts80.61
Price Target36.66 (82.12%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-32.59%
Min EPS beat(2)-62.87%
Max EPS beat(2)-2.31%
EPS beat(4)2
Avg EPS beat(4)210.92%
Min EPS beat(4)-62.87%
Max EPS beat(4)892.08%
EPS beat(8)4
Avg EPS beat(8)93.43%
EPS beat(12)6
Avg EPS beat(12)41.34%
EPS beat(16)7
Avg EPS beat(16)-15.84%
Revenue beat(2)1
Avg Revenue beat(2)1.48%
Min Revenue beat(2)-0.03%
Max Revenue beat(2)2.99%
Revenue beat(4)3
Avg Revenue beat(4)1.29%
Min Revenue beat(4)-0.03%
Max Revenue beat(4)2.99%
Revenue beat(8)4
Avg Revenue beat(8)0.09%
Revenue beat(12)5
Avg Revenue beat(12)-0.24%
Revenue beat(16)5
Avg Revenue beat(16)-0.64%
PT rev (1m)-0.57%
PT rev (3m)0.58%
EPS NQ rev (1m)0%
EPS NQ rev (3m)8.06%
EPS NY rev (1m)0.49%
EPS NY rev (3m)0.06%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.32%
Revenue NY rev (1m)0.43%
Revenue NY rev (3m)0.44%
Valuation
Industry RankSector Rank
PE 21.65
Fwd PE 13.6
P/S 0.46
P/FCF 13.39
P/OCF 8.71
P/B 1.88
P/tB 4.33
EV/EBITDA 6.85
EPS(TTM)0.93
EY4.62%
EPS(NY)1.48
Fwd EY7.35%
FCF(TTM)1.5
FCFY7.47%
OCF(TTM)2.31
OCFY11.49%
SpS43.81
BVpS10.72
TBVpS4.65
PEG (NY)1.1
PEG (5Y)0.93
Graham Number14.98
Profitability
Industry RankSector Rank
ROA 2.66%
ROE 8.44%
ROCE 8.93%
ROIC 5.47%
ROICexc 8.23%
ROICexgc 18.89%
OM 3.3%
PM (TTM) 2.06%
GM 40.37%
FCFM 3.43%
ROA(3y)1.48%
ROA(5y)2.26%
ROE(3y)4.56%
ROE(5y)6.95%
ROIC(3y)3.34%
ROIC(5y)4.59%
ROICexc(3y)9.52%
ROICexc(5y)14.27%
ROICexgc(3y)13.4%
ROICexgc(5y)19.23%
ROCE(3y)5.45%
ROCE(5y)7.5%
ROICexgc growth 3Y8.96%
ROICexgc growth 5Y22.36%
ROICexc growth 3Y2.72%
ROICexc growth 5Y17.49%
OM growth 3Y-2.26%
OM growth 5Y7.72%
PM growth 3Y1.6%
PM growth 5Y9.08%
GM growth 3Y-0.88%
GM growth 5Y-0.89%
F-Score7
Asset Turnover1.29
Health
Industry RankSector Rank
Debt/Equity 0.44
Debt/FCF 3.63
Debt/EBITDA 1.61
Cap/Depr 55.55%
Cap/Sales 1.85%
Interest Coverage 250
Cash Conversion 79.63%
Profit Quality 166.19%
Current Ratio 1.12
Quick Ratio 0.59
Altman-Z 2.21
F-Score7
WACC6.19%
ROIC/WACC0.88
Cap/Depr(3y)86.74%
Cap/Depr(5y)104.05%
Cap/Sales(3y)2.65%
Cap/Sales(5y)2.86%
Profit Quality(3y)549.88%
Profit Quality(5y)378.62%
High Growth Momentum
Growth
EPS 1Y (TTM)17.72%
EPS 3Y2.91%
EPS 5Y23.33%
EPS Q2Q%-64.71%
EPS Next Y19.66%
EPS Next 2Y23.51%
EPS Next 3Y24.59%
EPS Next 5Y27.92%
Revenue 1Y (TTM)12.06%
Revenue growth 3Y0.7%
Revenue growth 5Y10.28%
Sales Q2Q%26.46%
Revenue Next Year17.2%
Revenue Next 2Y15.4%
Revenue Next 3Y12.2%
Revenue Next 5Y10.4%
EBIT growth 1Y2.33%
EBIT growth 3Y-1.58%
EBIT growth 5Y18.79%
EBIT Next Year120.77%
EBIT Next 3Y43%
EBIT Next 5Y33.55%
FCF growth 1Y-18.24%
FCF growth 3Y16.44%
FCF growth 5Y84.9%
OCF growth 1Y-20.35%
OCF growth 3Y2.01%
OCF growth 5Y14.86%

ZALANDO SE / ZAL.DE FAQ

Can you provide the ChartMill fundamental rating for ZALANDO SE?

ChartMill assigns a fundamental rating of 6 / 10 to ZAL.DE.


Can you provide the valuation status for ZALANDO SE?

ChartMill assigns a valuation rating of 5 / 10 to ZALANDO SE (ZAL.DE). This can be considered as Fairly Valued.


Can you provide the profitability details for ZALANDO SE?

ZALANDO SE (ZAL.DE) has a profitability rating of 7 / 10.


What is the valuation of ZALANDO SE based on its PE and PB ratios?

The Price/Earnings (PE) ratio for ZALANDO SE (ZAL.DE) is 21.65 and the Price/Book (PB) ratio is 1.88.


What is the financial health of ZALANDO SE (ZAL.DE) stock?

The financial health rating of ZALANDO SE (ZAL.DE) is 5 / 10.