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ZKH GROUP LTD (ZKH) Stock Fundamental Analysis

USA - NYSE:ZKH - US98877R1041 - ADR

2.86 USD
-0.1 (-3.38%)
Last: 10/10/2025, 9:04:24 PM
2.85 USD
-0.01 (-0.35%)
After Hours: 10/10/2025, 9:04:24 PM
Fundamental Rating

2

ZKH gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 49 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

ZKH had negative earnings in the past year.
ZKH had negative earnings in each of the past 5 years.
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

ZKH has a Return On Assets of -3.69%. This is in the lower half of the industry: ZKH underperforms 77.55% of its industry peers.
Looking at the Return On Equity, with a value of -7.72%, ZKH is doing worse than 75.51% of the companies in the same industry.
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 worse Gross Margin (16.94%) than 85.71% 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.
Compared to 1 year ago, ZKH has less shares outstanding
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

ZKH has an Altman-Z score of 1.22. This is a bad value and indicates that ZKH is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 1.22, ZKH is not doing good in the industry: 73.47% of the companies in the same industry are doing better.
ZKH has a Debt/Equity ratio of 0.12. This is a healthy value indicating a solid balance between debt and equity.
ZKH has a Debt to Equity ratio of 0.12. This is in the better half of the industry: ZKH outperforms 73.47% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.12
Debt/FCF N/A
Altman-Z 1.22
ROIC/WACCN/A
WACC7.08%
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

A Current Ratio of 1.90 indicates that ZKH should not have too much problems paying its short term obligations.
ZKH's Current ratio of 1.90 is in line compared to the rest of the industry. ZKH outperforms 46.94% of its industry peers.
ZKH has a Quick Ratio of 1.66. 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 Quick ratio of 1.66. This is in the better half of the industry: ZKH outperforms 71.43% 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.
ZKH shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -31.79%.
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

ZKH is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 54.90% yearly.
Based on estimates for the next years, ZKH will show a quite strong growth in Revenue. The Revenue will grow by 9.02% on average per year.
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

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.
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.
With a Price/Forward Earnings ratio of 45.84, ZKH can be considered very expensive at the moment.
73.47% of the companies in the same industry are cheaper than ZKH, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.57, ZKH is valued quite expensively.
Industry RankSector Rank
PE N/A
Fwd PE 45.84
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.
ZKH's earnings are expected to grow with 54.90% in the coming years. This may justify a more expensive valuation.
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 (10/10/2025, 9:04:24 PM)

After market: 2.85 -0.01 (-0.35%)

2.86

-0.1 (-3.38%)

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
Inst Owners18.02%
Inst Owner Change0%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap462.05M
Analysts80
Price Target4.05 (41.61%)
Short Float %0.02%
Short Ratio0.11
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)-4.03%
PT rev (3m)-6.3%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)-580.96%
EPS NY rev (3m)-440.48%
Revenue NQ rev (1m)-8.05%
Revenue NQ rev (3m)-8.05%
Revenue NY rev (1m)-4.02%
Revenue NY rev (3m)-5.53%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 45.84
P/S 0.38
P/FCF N/A
P/OCF N/A
P/B 1.1
P/tB 1.12
EV/EBITDA N/A
EPS(TTM)-0.2
EYN/A
EPS(NY)0.06
Fwd EY2.18%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS7.61
BVpS2.6
TBVpS2.55
PEG (NY)N/A
PEG (5Y)N/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
ROICexcg growth 3YN/A
ROICexcg 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 1.22
F-ScoreN/A
WACC7.08%
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