ZALANDO SE (ZAL.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:ZAL • DE000ZAL1111

21.48 EUR
-2.95 (-12.08%)
Last: Feb 3, 2026, 05:35 PM
Fundamental Rating

5

ZAL gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 59 industry peers in the Specialty Retail industry. ZAL has an average financial health and profitability rating. ZAL is showing excellent growth while it is valued at reasonable prices. Keep and eye on this one! With these ratings, ZAL could be worth investigating further for growth investing!.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • ZAL had positive earnings in the past year.
  • ZAL had a positive operating cash flow in the past year.
  • In the past 5 years ZAL has always been profitable.
  • In the past 5 years ZAL always reported a positive cash flow from operatings.
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

  • With a Return On Assets value of 2.66%, ZAL perfoms like the industry average, outperforming 57.63% of the companies in the same industry.
  • With a decent Return On Equity value of 8.44%, ZAL is doing good in the industry, outperforming 62.71% of the companies in the same industry.
  • ZAL has a Return On Invested Capital of 5.47%. This is comparable to the rest of the industry: ZAL outperforms 55.93% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for ZAL is significantly below the industry average of 10.14%.
  • The 3 year average ROIC (3.34%) for ZAL is below the current ROIC(5.47%), indicating increased profibility in the last year.
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 (2.06%) which is comparable to the rest of the industry.
  • In the last couple of years the Profit Margin of ZAL has grown nicely.
  • ZAL's Operating Margin of 3.30% is in line compared to the rest of the industry. ZAL outperforms 52.54% of its industry peers.
  • In the last couple of years the Operating Margin of ZAL has grown nicely.
  • Looking at the Gross Margin, with a value of 40.37%, ZAL is in the better half of the industry, outperforming 61.02% of the companies in the same industry.
  • In the last couple of years the Gross Margin of ZAL has remained more or less at the same level.
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. Health

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

  • An Altman-Z score of 2.32 indicates that ZAL is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • ZAL's Altman-Z score of 2.32 is fine compared to the rest of the industry. ZAL outperforms 61.02% of 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.
  • The Debt to FCF ratio of ZAL (3.63) is better than 69.49% of its industry peers.
  • 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 66.10% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.44
Debt/FCF 3.63
Altman-Z 2.32
ROIC/WACC0.86
WACC6.36%
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.
  • With a Current ratio value of 1.12, ZAL perfoms like the industry average, outperforming 44.07% of the companies in the same industry.
  • A Quick Ratio of 0.59 indicates that ZAL may have some problems paying its short term obligations.
  • The Quick ratio of ZAL (0.59) is comparable to the rest of the industry.
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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7

3. Growth

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.
  • ZAL shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.28% yearly.
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

  • The Earnings Per Share is expected to grow by 26.63% on average over the next years. This is a very strong growth
  • Based on estimates for the next years, ZAL will show a quite strong growth in Revenue. The Revenue will grow by 10.27% on average per year.
EPS Next Y19.08%
EPS Next 2Y24.54%
EPS Next 3Y25.18%
EPS Next 5Y26.63%
Revenue Next Year16.7%
Revenue Next 2Y15.08%
Revenue Next 3Y11.96%
Revenue Next 5Y10.27%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
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. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 23.10, the valuation of ZAL can be described as rather expensive.
  • ZAL's Price/Earnings ratio is a bit cheaper when compared to the industry. ZAL is cheaper than 64.41% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 28.41. ZAL is around the same levels.
  • A Price/Forward Earnings ratio of 14.28 indicates a correct valuation of ZAL.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of ZAL indicates a somewhat cheap valuation: ZAL is cheaper than 64.41% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 25.64, ZAL is valued a bit cheaper.
Industry RankSector Rank
PE 23.1
Fwd PE 14.28
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

  • 61.02% 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 14.29
EV/EBITDA 8.27
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.
  • A more expensive valuation may be justified as ZAL's earnings are expected to grow with 25.18% in the coming years.
PEG (NY)1.21
PEG (5Y)0.99
EPS Next 2Y24.54%
EPS Next 3Y25.18%

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0

5. Dividend

5.1 Amount

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

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ZALANDO SE

FRA:ZAL (2/3/2026, 5:35:15 PM)

21.48

-2.95 (-12.08%)

Chartmill FA Rating
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustrySpecialty Retail
Earnings (Last)11-06
Earnings (Next)02-26
Inst Owners60.67%
Inst Owner ChangeN/A
Ins Owners10.12%
Ins Owner ChangeN/A
Market Cap5.67B
Revenue(TTM)11.57B
Net Income(TTM)239.00M
Analysts78.18
Price Target37.08 (72.63%)
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)1.63%
PT rev (3m)0.63%
EPS NQ rev (1m)0%
EPS NQ rev (3m)7.51%
EPS NY rev (1m)-1.26%
EPS NY rev (3m)-1.82%
Revenue NQ rev (1m)0.1%
Revenue NQ rev (3m)0.78%
Revenue NY rev (1m)0%
Revenue NY rev (3m)2.2%
Valuation
Industry RankSector Rank
PE 23.1
Fwd PE 14.28
P/S 0.49
P/FCF 14.29
P/OCF 9.29
P/B 2
P/tB 4.62
EV/EBITDA 8.27
EPS(TTM)0.93
EY4.33%
EPS(NY)1.5
Fwd EY7%
FCF(TTM)1.5
FCFY7%
OCF(TTM)2.31
OCFY10.76%
SpS43.81
BVpS10.72
TBVpS4.65
PEG (NY)1.21
PEG (5Y)0.99
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 2.32
F-Score7
WACC6.36%
ROIC/WACC0.86
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 Y19.08%
EPS Next 2Y24.54%
EPS Next 3Y25.18%
EPS Next 5Y26.63%
Revenue 1Y (TTM)12.06%
Revenue growth 3Y0.7%
Revenue growth 5Y10.28%
Sales Q2Q%26.46%
Revenue Next Year16.7%
Revenue Next 2Y15.08%
Revenue Next 3Y11.96%
Revenue Next 5Y10.27%
EBIT growth 1Y2.33%
EBIT growth 3Y-1.58%
EBIT growth 5Y18.79%
EBIT Next Year118.78%
EBIT Next 3Y43.23%
EBIT Next 5Y33.35%
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 5 / 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 6 / 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 23.1 and the Price/Book (PB) ratio is 2.


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

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