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Zalando SE ZAL.DE

DE · Deutsche Börse Xetra · XETR · stock · Consumer Cyclical · website

Zalando SE statistics & valuation

Market cap€5.4B
P / E25.0×
P / S0.4×
P / B1.9×
P / FCF6.0×
Net margin1.7%
FCF margin7.3%
Net cash€435.8M
Enterprise value USD$5.6B
Earnings yield EBIT/EV7.8%
Return on capital9%
Graham number -33.7%€14.61

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (€14.61); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
0.20% 0.80% 2.40% 1.70% 2022202320242025
Gross margin (%)
39.20% 38.70% 40.70% 39.90% 2022202320242025
Operating margin (%)
0.80% 1.90% 3.70% 3.10% 2022202320242025
Return on equity (%)
0.80% 3.50% 9.40% 7.60% 2022202320242025
Shares outstanding
244.2M 244.2M 244.2M 244.2M 2022202320242025
Net debt (€)
-€308.1M -€681.6M -€862.3M -€435.8M 2022202320242025
Share buybacks (€)
€136.2M €0 €99.5M €98.2M 2022202320242025
Return on assets (%)
0.20% 1.10% 3.10% 2.30% 2022202320242025
Free cash flow margin (%)
1.00% 6.80% 4.20% 7.30% 2022202320242025
Debt / equity (×)
0.78× 0.78× 0.65× 0.51× 2022202320242025
EPS (€)
€0.06 €0.32 €0.96 €0.82 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Zalando SE trades at about 26.9× earnings — below its 10-year norm (10-year range 29.7×–709.8×, median 58.4×).

26.9× 709.8×

Shaded band = 10-year range (29.7×–709.8×); dot = today's 26.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin39.9%40.7%38.7%39.2%
Operating margin3.1%3.7%1.9%0.8%
Net margin1.7%2.4%0.8%0.2%
FCF margin7.3%4.2%6.8%1.0%
Return on assets2.3%3.1%1.1%0.2%
Return on equity7.6%9.4%3.5%0.8%
Debt / equity0.17×0.18×0.40×0.42×
Current ratio1.111.371.491.44

Computed from company filings · DE · as of 2025-12-31. Figures in EUR. Facts plus Stocktoria's own computed scores — not investment advice.