ZALANDO SE (ZAL.DE) Fundamental Analysis & Valuation

FRA:ZAL • DE000ZAL1111

23.67 EUR
+1.65 (+7.49%)
Last: Mar 13, 2026, 05:29 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

5

We assign a fundamental rating of 5 out of 10 to ZAL. ZAL was compared to 58 industry peers in the Specialty Retail industry. While ZAL belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. ZAL is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

7

1. ZAL.DE Profitability Analysis

1.1 Basic Checks

  • ZAL had positive earnings in the past year.
  • ZAL had a positive operating cash flow in the past year.
  • Each year in the past 5 years ZAL has been profitable.
  • ZAL had a positive operating cash flow in each of the past 5 years.
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 decent Return On Assets value of 2.66%, ZAL is doing good in the industry, outperforming 60.34% of the companies in the same industry.
  • ZAL's Return On Equity of 8.44% is fine compared to the rest of the industry. ZAL outperforms 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 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's Profit Margin of 2.06% is fine compared to the rest 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.
  • With a Operating Margin value of 3.30%, ZAL perfoms like the industry average, outperforming 53.45% of the companies in the same industry.
  • 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 60.34% 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. ZAL.DE Health Analysis

2.1 Basic Checks

  • ZAL has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, ZAL has less shares outstanding
  • 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 2.25 indicates that ZAL is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • ZAL has a Altman-Z score of 2.25. This is in the better half of the industry: ZAL outperforms 60.34% 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 70.69% of its industry peers.
  • A Debt/Equity ratio of 0.44 indicates that ZAL is not too dependend on debt financing.
  • ZAL has a Debt to Equity ratio of 0.44. This is in the better half of the industry: ZAL outperforms 62.07% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.44
Debt/FCF 3.63
Altman-Z 2.25
ROIC/WACC0.86
WACC6.33%
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

  • A Current Ratio of 1.12 indicates that ZAL should not have too much problems paying its short term obligations.
  • ZAL has a worse Current ratio (1.12) 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.
  • 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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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. ZAL.DE Growth Analysis

3.1 Past

  • The earnings per share for ZAL have decreased strongly by -32.82% in the last year.
  • Measured over the past years, ZAL shows a very strong growth in Earnings Per Share. The EPS has been growing by 23.33% on average per year.
  • Looking at the last year, ZAL shows a small growth in Revenue. The Revenue has grown by 4.23% in the last year.
  • 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)-32.82%
EPS 3Y2.91%
EPS 5Y23.33%
EPS Q2Q%-60.51%
Revenue 1Y (TTM)4.23%
Revenue growth 3Y0.7%
Revenue growth 5Y10.28%
Sales Q2Q%24.26%

3.2 Future

  • The Earnings Per Share is expected to grow by 27.92% on average over the next years. This is a very strong growth
  • 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.
  • 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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4

4. ZAL.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 36.42, which means the current valuation is very expensive for ZAL.
  • The rest of the industry has a similar Price/Earnings ratio as ZAL.
  • The average S&P500 Price/Earnings ratio is at 25.70. ZAL is valued slightly more expensive when compared to this.
  • A Price/Forward Earnings ratio of 16.00 indicates a correct valuation of ZAL.
  • ZAL's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. ZAL is cheaper than 62.07% of the companies in the same industry.
  • ZAL's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 23.84.
Industry RankSector Rank
PE 36.42
Fwd PE 16
ZAL.DE Price Earnings VS Forward Price EarningsZAL.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • 60.34% of the companies in the same industry are more expensive than ZAL, based on the Enterprise Value to EBITDA ratio.
  • ZAL's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 15.74
EV/EBITDA 7.43
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

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates ZAL does not grow enough to justify the current Price/Earnings ratio.
  • 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)1.85
PEG (5Y)1.56
EPS Next 2Y23.51%
EPS Next 3Y24.59%

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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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ZAL.DE Fundamentals: All Metrics, Ratios and Statistics

ZALANDO SE

FRA:ZAL (3/13/2026, 5:29:58 PM)

23.67

+1.65 (+7.49%)

Chartmill FA Rating
GICS IndustryGroupConsumer Discretionary Distribution & Retail
GICS IndustrySpecialty Retail
Earnings (Last)03-12
Earnings (Next)N/A
Inst Owners58.44%
Inst Owner ChangeN/A
Ins Owners10.12%
Ins Owner ChangeN/A
Market Cap6.25B
Revenue(TTM)10.57B
Net Income(TTM)239.00M
Analysts80.61
Price Target36.66 (54.88%)
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 36.42
Fwd PE 16
P/S 0.54
P/FCF 15.74
P/OCF 10.24
P/B 2.21
P/tB 5.09
EV/EBITDA 7.43
EPS(TTM)0.65
EY2.75%
EPS(NY)1.48
Fwd EY6.25%
FCF(TTM)1.5
FCFY6.35%
OCF(TTM)2.31
OCFY9.77%
SpS43.81
BVpS10.72
TBVpS4.65
PEG (NY)1.85
PEG (5Y)1.56
Graham Number12.52
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 2.25
F-Score7
WACC6.33%
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)-32.82%
EPS 3Y2.91%
EPS 5Y23.33%
EPS Q2Q%-60.51%
EPS Next Y19.66%
EPS Next 2Y23.51%
EPS Next 3Y24.59%
EPS Next 5Y27.92%
Revenue 1Y (TTM)4.23%
Revenue growth 3Y0.7%
Revenue growth 5Y10.28%
Sales Q2Q%24.26%
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 5 / 10 to ZAL.DE.


Can you provide the valuation status for ZALANDO SE?

ChartMill assigns a valuation rating of 4 / 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 36.42 and the Price/Book (PB) ratio is 2.21.


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

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