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ZKH GROUP LTD (ZKH) Stock Fundamental Analysis

USA - New York Stock Exchange - NYSE:ZKH - US98877R1041 - ADR

3.22 USD
0 (0%)
Last: 12/19/2025, 8:22:43 PM
3.2387 USD
+0.02 (+0.58%)
After Hours: 12/19/2025, 8:22:43 PM
Fundamental Rating

2

ZKH gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals 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. 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

ZKH had negative earnings in the past year.
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 (-2.72%) is worse than 76.00% of its industry peers.
ZKH has a worse Return On Equity (-5.87%) than 74.00% of its industry peers.
Industry RankSector 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
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 worse Gross Margin (16.87%) than 84.00% of its industry peers.
In the last couple of years the Gross Margin of ZKH has grown nicely.
The Profit Margin and Operating Margin are not available for ZKH so they could not be analyzed.
Industry RankSector 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
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.
Compared to 1 year ago, ZKH has an improved debt to assets ratio.
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

ZKH has an Altman-Z score of 1.26. This is a bad value and indicates that ZKH is not financially healthy and even has some risk of bankruptcy.
ZKH has a Altman-Z score of 1.26. This is in the lower half of the industry: ZKH underperforms 74.00% of its industry peers.
ZKH has a Debt/Equity ratio of 0.12. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of ZKH (0.12) is better than 72.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.12
Debt/FCF N/A
Altman-Z 1.26
ROIC/WACCN/A
WACC7.43%
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 1.85. 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 (1.85) which is in line with its industry peers.
A Quick Ratio of 1.62 indicates that ZKH should not have too much problems paying its short term obligations.
ZKH has a Quick ratio of 1.62. This is in the better half of the industry: ZKH outperforms 64.00% of its industry peers.
Industry RankSector Rank
Current Ratio 1.85
Quick Ratio 1.62
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 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.
Measured over the past years, ZKH shows a small growth in Revenue. The Revenue has been growing by 4.60% on average per year.
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

ZKH is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 42.86% yearly.
The Revenue is expected to grow by 6.79% on average over the next years.
EPS Next Y42.79%
EPS Next 2Y49.96%
EPS Next 3Y42.86%
EPS Next 5YN/A
Revenue Next Year2.41%
Revenue Next 2Y5.72%
Revenue Next 3Y6.79%
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 -2

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1

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for ZKH. In the last year negative earnings were reported.
Based on the Price/Forward Earnings ratio of 89.79, the valuation of ZKH can be described as expensive.
ZKH's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. ZKH is more expensive than 70.00% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.83, ZKH is valued quite expensively.
Industry RankSector Rank
PE N/A
Fwd PE 89.79
ZKH Price Earnings VS Forward Price EarningsZKH Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 40 60 80

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

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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0

5. Dividend

5.1 Amount

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

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ZKH GROUP LTD

NYSE:ZKH (12/19/2025, 8:22:43 PM)

After market: 3.2387 +0.02 (+0.58%)

3.22

0 (0%)

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 Change-50.07%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap520.20M
Revenue(TTM)8.80B
Net Income(TTM)-173.64M
Analysts80
Price Target4.05 (25.78%)
Short Float %0.04%
Short Ratio0.3
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)-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)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-20.63%
EPS NY rev (3m)-721.43%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-2.94%
Revenue NY rev (3m)-2.94%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 89.79
P/S 0.42
P/FCF N/A
P/OCF N/A
P/B 1.24
P/tB 1.26
EV/EBITDA N/A
EPS(TTM)-0.15
EYN/A
EPS(NY)0.04
Fwd EY1.11%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS7.74
BVpS2.6
TBVpS2.55
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector 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 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 1.85
Quick Ratio 1.62
Altman-Z 1.26
F-ScoreN/A
WACC7.43%
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 Year2.41%
Revenue Next 2Y5.72%
Revenue Next 3Y6.79%
Revenue Next 5YN/A
EBIT growth 1Y30.44%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year74.05%
EBIT Next 3Y35.55%
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 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.