ZKH Fundamental Analysis - ZKH GROUP LTD

Fundamental Rating

Overall ZKH gets a fundamental rating of 2 out of 10. We evaluated ZKH against 50 industry peers in the Trading Companies & Distributors industry. ZKH may be in some trouble as it scores bad on both profitability and health. While showing a medium growth rate, ZKH is valued expensive at the moment.

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1. Profitability

1.1 Basic Checks

ZKH had negative earnings in the past year.
In the past 5 years ZKH always reported negative net income.
The reported operating cash flow has been mixed in the past 5 years: ZKH reported negative operating cash flow in multiple years.

1.2 Ratios

ZKH has a worse Return On Assets (-2.72%) than 76.00% of its industry peers.
ZKH's Return On Equity of -5.87% is on the low side compared to the rest of the industry. ZKH is outperformed by 74.00% of its industry peers.

		Industry Rank	Sector Rank
ROA	-2.72%
ROE	-5.87%
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

1.3 Margins

With a Gross Margin value of 16.87%, ZKH is not doing good in the industry: 84.00% of the companies in the same industry are doing better.
ZKH's Gross Margin has improved in the last couple of years.
The Profit Margin and Operating Margin are not available for ZKH so they could not be analyzed.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	N/A
GM	16.87%

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y8.27%

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

ZKH does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, ZKH has less shares outstanding
Compared to 1 year ago, ZKH has an improved debt to assets ratio.

2.2 Solvency

ZKH has an Altman-Z score of 1.31. This is a bad value and indicates that ZKH is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of ZKH (1.31) is worse than 72.00% 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 74.00% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.12
Debt/FCF	N/A
Altman-Z	1.31

ROIC/WACCN/A

WACC7.4%

2.3 Liquidity

A Current Ratio of 1.85 indicates that ZKH should not have too much problems paying its short term obligations.
ZKH has a Current ratio (1.85) which is comparable to the rest of the industry.
ZKH has a Quick Ratio of 1.62. 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 better Quick ratio (1.62) than 64.00% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	1.85
Quick Ratio	1.62

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 41.57% over the past year.
Looking at the last year, ZKH shows a decrease in Revenue. The Revenue has decreased by -0.39% in the last year.
The Revenue has been growing slightly by 4.60% on average over the past years.

EPS 1Y (TTM)41.57%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%77.5%

Revenue 1Y (TTM)-0.39%

Revenue growth 3Y4.6%

Revenue growth 5YN/A

Sales Q2Q%2.09%

3.2 Future

Based on estimates for the next years, ZKH will show a very strong growth in Earnings Per Share. The EPS will grow by 42.86% on average per year.
Based on estimates for the next years, ZKH will show a quite strong growth in Revenue. The Revenue will grow by 8.06% on average per year.

EPS Next Y42.79%

EPS Next 2Y49.96%

EPS Next 3Y42.86%

EPS Next 5YN/A

Revenue Next Year2.54%

Revenue Next 2Y6.5%

Revenue Next 3Y8.06%

Revenue Next 5YN/A

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for ZKH. In the last year negative earnings were reported.
ZKH is valuated quite expensively with a Price/Forward Earnings ratio of 97.18.
Compared to the rest of the industry, the Price/Forward Earnings ratio of ZKH indicates a slightly more expensive valuation: ZKH is more expensive than 70.00% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 24.31, ZKH is valued quite expensively.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	97.18

4.2 Price Multiples

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	N/A

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
A more expensive valuation may be justified as ZKH's earnings are expected to grow with 42.86% in the coming years.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y49.96%

EPS Next 3Y42.86%

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5. Dividend

5.1 Amount

ZKH does not give a dividend.

		Industry Rank	Sector Rank
Dividend Yield	0%

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ZKH GROUP LTD

NYSE:ZKH (1/16/2026, 11:48:16 AM)

3.5217

+0 (+0.05%)

Chartmill FA Rating

GICS SectorIndustrials

GICS IndustryGroupCapital Goods

GICS IndustryTrading Companies & Distributors

Earnings (Last)11-20 2025-11-20/bmo

Earnings (Next)03-16 2026-03-16/bmo

Inst Owners12.81%

Inst Owner Change0%

Ins OwnersN/A

Ins Owner ChangeN/A

Market Cap568.95M

Revenue(TTM)8.80B

Net Income(TTM)-173.64M

Analysts80

Price Target3.98 (13.01%)

Short Float %0.04%

Short Ratio0.26

Dividend

		Industry Rank	Sector 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)-80.38%

Min EPS beat(2)-146.9%

Max EPS beat(2)-13.86%

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)0

Avg Revenue beat(2)-3.92%

Min Revenue beat(2)-7.79%

Max Revenue beat(2)-0.06%

Revenue beat(4)1

Avg Revenue beat(4)-1.98%

Min Revenue beat(4)-7.79%

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)-1.68%

PT rev (3m)-1.68%

EPS NQ rev (1m)N/A

EPS NQ rev (3m)N/A

EPS NY rev (1m)0%

EPS NY rev (3m)-20.63%

Revenue NQ rev (1m)N/A

Revenue NQ rev (3m)N/A

Revenue NY rev (1m)0.13%

Revenue NY rev (3m)-2.81%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	97.18
P/S	0.45
P/FCF	N/A
P/OCF	N/A
P/B	1.34
P/tB	1.37
EV/EBITDA	N/A

EPS(TTM)-0.15

EYN/A

EPS(NY)0.04

Fwd EY1.03%

FCF(TTM)N/A

FCFYN/A

OCF(TTM)N/A

OCFYN/A

SpS7.82

BVpS2.63

TBVpS2.58

PEG (NY)N/A

PEG (5Y)N/A

Graham NumberN/A

Profitability

		Industry Rank	Sector Rank
ROA	-2.72%
ROE	-5.87%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	N/A
GM	16.87%
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 Turnover1.38

Health

		Industry Rank	Sector 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	1.85
Quick Ratio	1.62
Altman-Z	1.31

F-ScoreN/A

WACC7.4%

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)41.57%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%77.5%

EPS Next Y42.79%

EPS Next 2Y49.96%

EPS Next 3Y42.86%

EPS Next 5YN/A

Revenue 1Y (TTM)-0.39%

Revenue growth 3Y4.6%

Revenue growth 5YN/A

Sales Q2Q%2.09%

Revenue Next Year2.54%

Revenue Next 2Y6.5%

Revenue Next 3Y8.06%

Revenue Next 5YN/A

EBIT growth 1Y30.44%

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next Year74.05%

EBIT Next 3Y40.32%

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 for ZKH stock?

ChartMill assigns a valuation rating of 1 / 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.

What is the financial health of ZKH GROUP LTD (ZKH) stock?

The financial health rating of ZKH GROUP LTD (ZKH) is 3 / 10.

ZKH GROUP LTD (ZKH) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

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5. Dividend

5.1 Amount

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ZKH GROUP LTD / ZKH FAQ

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

What is the valuation status for ZKH stock?

What is the profitability of ZKH stock?

What is the financial health of ZKH GROUP LTD (ZKH) stock?