ZALANDO SE (ZAL.DE) Fundamental Analysis & Valuation

FRA:ZAL • DE000ZAL1111

19.84 EUR
-0.48 (-2.36%)
Last: Mar 9, 2026, 07:00 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

Overall ZAL gets a fundamental rating of 6 out of 10. We evaluated ZAL against 58 industry peers in the Specialty Retail industry. ZAL scores excellent on profitability, but there are some minor concerns on its financial health. ZAL is not overvalued while it is showing excellent growth. This is an interesting combination. These ratings would make ZAL suitable 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.
  • ZAL had a positive operating cash flow in the past year.
  • ZAL had positive earnings in each of the past 5 years.
  • Each year in the past 5 years ZAL had a positive operating cash flow.
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

  • Looking at the Return On Assets, with a value of 2.66%, ZAL is in the better half of the industry, outperforming 60.34% of the companies in the same industry.
  • ZAL has a better Return On Equity (8.44%) than 67.24% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 5.47%, ZAL is in the better half of the industry, outperforming 60.34% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for ZAL 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

  • ZAL has a Profit Margin of 2.06%. This is in the better half of the industry: ZAL outperforms 62.07% of its industry peers.
  • In the last couple of years the Profit Margin of ZAL has grown nicely.
  • ZAL has a Operating Margin of 3.30%. This is comparable 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.
  • ZAL's Gross Margin has been stable in the last couple of years.
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

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), ZAL is destroying value.
  • ZAL has less shares outstanding than it did 1 year ago.
  • 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

  • ZAL has an Altman-Z score of 2.21. This is not the best score and indicates that ZAL is in the grey zone with still only limited risk for bankruptcy at the moment.
  • ZAL has a Altman-Z score (2.21) which is in line with its industry peers.
  • The Debt to FCF ratio of ZAL is 3.63, which is a good value as it means it would take ZAL, 3.63 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 3.63, ZAL is in the better half of the industry, outperforming 70.69% of the companies in the same industry.
  • ZAL has a Debt/Equity ratio of 0.44. This is a healthy value indicating a solid balance between debt and equity.
  • The Debt to Equity ratio of ZAL (0.44) is better than 62.07% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.44
Debt/FCF 3.63
Altman-Z 2.21
ROIC/WACC0.89
WACC6.16%
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.
  • The Current ratio of ZAL (1.12) is worse than 60.34% of its industry peers.
  • A Quick Ratio of 0.59 indicates that ZAL may have some problems paying its short term obligations.
  • ZAL has a Quick ratio of 0.59. This is comparable to the rest of the industry: ZAL outperforms 53.45% of 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

  • The Earnings Per Share has grown by an nice 17.72% over the past year.
  • ZAL shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 23.33% yearly.
  • The Revenue has grown by 12.06% in the past year. This is quite good.
  • 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

  • Based on estimates for the next years, ZAL will show a very strong growth in Earnings Per Share. The EPS will grow by 27.92% on average per year.
  • ZAL is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 10.40% yearly.
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

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • 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

  • A Price/Earnings ratio of 21.33 indicates a rather expensive valuation of ZAL.
  • Based on the Price/Earnings ratio, ZAL is valued a bit cheaper than the industry average as 72.41% of the companies are valued more expensively.
  • ZAL's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 26.46.
  • The Price/Forward Earnings ratio is 13.41, which indicates a correct valuation of ZAL.
  • Based on the Price/Forward Earnings ratio, ZAL is valued a bit cheaper than the industry average as 65.52% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.65, ZAL is valued a bit cheaper.
Industry RankSector Rank
PE 21.33
Fwd PE 13.41
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

  • 65.52% of the companies in the same industry are more expensive than ZAL, based on the Enterprise Value to EBITDA ratio.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of ZAL is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 13.2
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

  • ZAL's 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)1.08
PEG (5Y)0.91
EPS Next 2Y23.51%
EPS Next 3Y24.59%

More info and screens

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

0

5. ZAL.DE Dividend Analysis

5.1 Amount

  • No dividends for ZAL!.
Industry RankSector Rank
Dividend Yield 0%

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Find the best dividend stocksShow peers with best dividend

ZAL.DE Fundamentals: All Metrics, Ratios and Statistics

ZALANDO SE

FRA:ZAL (3/9/2026, 7:00:00 PM)

19.84

-0.48 (-2.36%)

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 Cap5.24B
Revenue(TTM)11.57B
Net Income(TTM)239.00M
Analysts80.61
Price Target36.66 (84.78%)
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 21.33
Fwd PE 13.41
P/S 0.45
P/FCF 13.2
P/OCF 8.58
P/B 1.85
P/tB 4.27
EV/EBITDA 6.85
EPS(TTM)0.93
EY4.69%
EPS(NY)1.48
Fwd EY7.46%
FCF(TTM)1.5
FCFY7.58%
OCF(TTM)2.31
OCFY11.65%
SpS43.81
BVpS10.72
TBVpS4.65
PEG (NY)1.08
PEG (5Y)0.91
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
WACC6.16%
ROIC/WACC0.89
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 21.33 and the Price/Book (PB) ratio is 1.85.


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

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