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ZKH GROUP LTD (ZKH) Stock Fundamental Analysis

USA - NYSE:ZKH - US98877R1041 - ADR

3.05 USD
-0.02 (-0.65%)
Last: 11/18/2025, 1:57:36 PM
Fundamental Rating

2

We assign a fundamental rating of 2 out of 10 to ZKH. ZKH was compared to 50 industry peers in the Trading Companies & Distributors industry. ZKH has a bad profitability rating. Also its financial health evaluation is rather negative. ZKH is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year ZKH has reported negative net income.
In the past 5 years ZKH always reported negative net income.
In multiple years ZKH reported negative operating cash flow during the last 5 years.
ZKH Yearly Net Income VS EBIT VS OCF VS FCFZKH Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2020 2021 2022 2023 2024 0 -500M -1B -1.5B

1.2 Ratios

The Return On Assets of ZKH (-3.69%) is worse than 76.00% of its industry peers.
The Return On Equity of ZKH (-7.72%) is worse than 72.00% of its industry peers.
Industry RankSector Rank
ROA -3.69%
ROE -7.72%
ROIC N/A
ROA(3y)-11.79%
ROA(5y)-14.07%
ROE(3y)-26.23%
ROE(5y)-32.12%
ROIC(3y)N/A
ROIC(5y)N/A
ZKH Yearly ROA, ROE, ROICZKH Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 -20 -40 -60

1.3 Margins

ZKH has a Gross Margin of 16.94%. This is amonst the worse of the industry: ZKH underperforms 84.00% of its industry peers.
ZKH's Gross Margin has improved in the last couple of years.
ZKH does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 16.94%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y8.27%
GM growth 5YN/A
ZKH Yearly Profit, Operating, Gross MarginsZKH Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 0 10 -10

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3

2. Health

2.1 Basic Checks

ZKH does not have a ROIC to compare to the WACC, probably because it is not profitable.
ZKH has less shares outstanding than it did 1 year ago.
ZKH has a better debt/assets ratio than last year.
ZKH Yearly Shares OutstandingZKH Yearly Shares OutstandingYearly Shares Outstanding 2020 2021 2022 2023 2024 50M 100M 150M
ZKH Yearly Total Debt VS Total AssetsZKH Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

Based on the Altman-Z score of 1.24, we must say that ZKH is in the distress zone and has some risk of bankruptcy.
ZKH has a Altman-Z score of 1.24. This is in the lower half of the industry: ZKH underperforms 70.00% of its industry peers.
A Debt/Equity ratio of 0.12 indicates that ZKH is not too dependend on debt financing.
ZKH has a better Debt to Equity ratio (0.12) than 70.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.12
Debt/FCF N/A
Altman-Z 1.24
ROIC/WACCN/A
WACC6.23%
ZKH Yearly LT Debt VS Equity VS FCFZKH Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2020 2021 2022 2023 2024 0 1B -1B 2B 3B

2.3 Liquidity

ZKH has a Current Ratio of 1.90. This is a normal value and indicates that ZKH is financially healthy and should not expect problems in meeting its short term obligations.
ZKH has a Current ratio (1.90) which is in line with its industry peers.
A Quick Ratio of 1.66 indicates that ZKH should not have too much problems paying its short term obligations.
ZKH's Quick ratio of 1.66 is fine compared to the rest of the industry. ZKH outperforms 66.00% of its industry peers.
Industry RankSector Rank
Current Ratio 1.9
Quick Ratio 1.66
ZKH Yearly Current Assets VS Current LiabilitesZKH Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2020 2021 2022 2023 2024 2B 4B 6B

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4

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 79.70% over the past year.
The Revenue for ZKH has decreased by -31.79% in the past year. This is quite bad
The Revenue has been growing slightly by 4.60% on average over the past years.
EPS 1Y (TTM)79.7%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-9.52%
Revenue 1Y (TTM)-31.79%
Revenue growth 3Y4.6%
Revenue growth 5YN/A
Sales Q2Q%-3.7%

3.2 Future

The Earnings Per Share is expected to grow by 54.90% on average over the next years. This is a very strong growth
ZKH is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.02% yearly.
EPS Next Y52.57%
EPS Next 2Y56.13%
EPS Next 3Y54.9%
EPS Next 5YN/A
Revenue Next Year5.51%
Revenue Next 2Y7.43%
Revenue Next 3Y9.02%
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
ZKH Yearly Revenue VS EstimatesZKH Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2B 4B 6B 8B 10B
ZKH Yearly EPS VS EstimatesZKH Yearly EPS VS EstimatesYearly EPS VS Estimates 2023 2024 2025 2026 2027 0 1 -1 -2

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2

4. Valuation

4.1 Price/Earnings Ratio

ZKH reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
A Price/Forward Earnings ratio of 48.78 indicates a quite expensive valuation of ZKH.
Based on the Price/Forward Earnings ratio, ZKH is valued a bit more expensive than the industry average as 70.00% of the companies are valued more cheaply.
ZKH's Price/Forward Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 34.62.
Industry RankSector Rank
PE N/A
Fwd PE 48.78
ZKH Price Earnings VS Forward Price EarningsZKH Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
ZKH Per share dataZKH EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

ZKH's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as ZKH's earnings are expected to grow with 54.90% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y56.13%
EPS Next 3Y54.9%

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0

5. Dividend

5.1 Amount

No dividends for ZKH!.
Industry RankSector Rank
Dividend Yield N/A

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ZKH GROUP LTD

NYSE:ZKH (11/18/2025, 1:57:36 PM)

3.05

-0.02 (-0.65%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryTrading Companies & Distributors
Earnings (Last)08-22 2025-08-22/bmo
Earnings (Next)11-20 2025-11-20/bmo
Inst Owners18.02%
Inst Owner Change-50.07%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap492.74M
Revenue(TTM)8.75B
Net Income(TTM)-231.09M
Analysts80
Price Target4.05 (32.79%)
Short Float %0.02%
Short Ratio0.56
Dividend
Industry RankSector Rank
Dividend Yield N/A
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)1
Avg EPS beat(2)-3.44%
Min EPS beat(2)-13.86%
Max EPS beat(2)6.99%
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)1.91%
Min Revenue beat(2)-0.06%
Max Revenue beat(2)3.88%
Revenue beat(4)2
Avg Revenue beat(4)0.49%
Min Revenue beat(4)-3.96%
Max Revenue beat(4)3.88%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-6.3%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-440.48%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-8.05%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-5.53%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 48.78
P/S 0.4
P/FCF N/A
P/OCF N/A
P/B 1.17
P/tB 1.19
EV/EBITDA N/A
EPS(TTM)-0.2
EYN/A
EPS(NY)0.06
Fwd EY2.05%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS7.62
BVpS2.61
TBVpS2.56
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -3.69%
ROE -7.72%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 16.94%
FCFM N/A
ROA(3y)-11.79%
ROA(5y)-14.07%
ROE(3y)-26.23%
ROE(5y)-32.12%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y8.27%
GM growth 5YN/A
F-ScoreN/A
Asset Turnover1.4
Health
Industry RankSector Rank
Debt/Equity 0.12
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.9
Quick Ratio 1.66
Altman-Z 1.24
F-ScoreN/A
WACC6.23%
ROIC/WACCN/A
Cap/Depr(3y)97.7%
Cap/Depr(5y)152%
Cap/Sales(3y)0.73%
Cap/Sales(5y)1.12%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)79.7%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-9.52%
EPS Next Y52.57%
EPS Next 2Y56.13%
EPS Next 3Y54.9%
EPS Next 5YN/A
Revenue 1Y (TTM)-31.79%
Revenue growth 3Y4.6%
Revenue growth 5YN/A
Sales Q2Q%-3.7%
Revenue Next Year5.51%
Revenue Next 2Y7.43%
Revenue Next 3Y9.02%
Revenue Next 5YN/A
EBIT growth 1Y51.51%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year84.84%
EBIT Next 3Y42.99%
EBIT Next 5YN/A
FCF growth 1Y123.42%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y140.33%
OCF growth 3YN/A
OCF growth 5YN/A

ZKH GROUP LTD / ZKH FAQ

What is the ChartMill fundamental rating of ZKH GROUP LTD (ZKH) stock?

ChartMill assigns a fundamental rating of 2 / 10 to ZKH.


What is the valuation status of ZKH GROUP LTD (ZKH) stock?

ChartMill assigns a valuation rating of 2 / 10 to ZKH GROUP LTD (ZKH). This can be considered as Overvalued.


What is the profitability of ZKH stock?

ZKH GROUP LTD (ZKH) has a profitability rating of 1 / 10.