Want to see DE:ZAL full AI Analyst Report?
Top Page
Zalando
(XETRA:ZAL)
Select Model
Select Model
Rating:59Neutral
Price Target:
€26.00
▼(-5.25% Downside)
Action:Reiterated
Date:08/08/26
The score is supported primarily by improving financial stability and strong free cash flow generation. It is weighed down by weak technical positioning (below key moving averages with muted momentum) and an expensive valuation (P/E ~62.8) alongside thin net profitability (~0.9%), which increases sensitivity to any margin or demand setbacks.
Positive Factors
Cash generation
Sustained, large free cash flow provides durable financial flexibility: supports reinvestment in logistics and platform, funds opportunistic M&A or shareholder returns, and cushions against cyclical retail downturns, improving long-term solvency and strategic optionality.
Negative Factors
Thin net profitability
Very slim net margins leave limited buffer for cost inflation, promotional pressure, or economic slowdowns. Small sales or margin shocks can erase profits, constraining reinvestment capacity and making long-term earnings volatile despite solid top-line and cash flow metrics.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained, large free cash flow provides durable financial flexibility: supports reinvestment in logistics and platform, funds opportunistic M&A or shareholder returns, and cushions against cyclical retail downturns, improving long-term solvency and strategic optionality.
Read all positive factors
Zalando (ZAL) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€5.80B
Dividend YieldN/A
Average Volume (3M)1.16M
Price to Earnings (P/E)62.1
Beta (1Y)1.00
Revenue Growth23.48%
EPS Growth-63.82%
CountryDE
Employees17,417
SectorGeneral
Sector StrengthN/A
IndustrySpecialty Retail
Share Statistics
EPS (TTM)0.38
Shares Outstanding250,249,980
10 Day Avg. Volume1,116,364
30 Day Avg. Volume1,158,094
Financial Highlights & Ratios
PEG Ratio-2.12
Price to Book (P/B)2.34
Price to Sales (P/S)0.53
P/FCF Ratio6.42
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€36.15Price Target Upside31.74% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)1.46
Revenue Forecast (FY)€13.86B
Zalando Business Overview & Revenue Model
Company Description
Zalando SE functions as a leading e-commerce platform focused on fashion and lifestyle merchandise. It offers an extensive range of apparel, footwear, accessories, and beauty products, all provided with complimentary delivery and a straightforward...
How the Company Makes Money
Zalando makes money primarily through a mix of (1) direct-to-consumer retail sales and (2) platform/service revenues earned from brands selling via Zalando.
1) Retail sales (wholesale model): Zalando buys inventory from brands and sells those pro...
Zalando Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
70
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.51B | 12.35B | 10.57B | 10.14B | 10.34B | 10.35B |
| Gross Profit | 5.39B | 4.61B | 4.30B | 3.68B | 4.06B | 4.33B |
| EBITDA | 1.00B | 812.80M | 811.30M | 572.50M | 395.30M | 660.20M |
| Net Income | 94.70M | 215.10M | 251.10M | 83.00M | 16.80M | 234.50M |
Balance Sheet | ||||||
| Total Assets | 8.80B | 9.69B | 7.98B | 8.11B | 7.63B | 6.90B |
| Cash, Cash Equivalents and Short-Term Investments | 1.46B | 1.88B | 2.69B | 2.62B | 2.04B | 2.29B |
| Total Debt | 1.37B | 1.44B | 1.73B | 1.85B | 1.72B | 1.57B |
| Total Liabilities | 6.23B | 6.87B | 5.32B | 5.73B | 5.43B | 4.68B |
| Stockholders Equity | 2.57B | 2.83B | 2.67B | 2.37B | 2.20B | 2.22B |
Cash Flow | ||||||
| Free Cash Flow | 841.00M | 1.03B | 447.30M | 686.30M | 108.30M | 283.30M |
| Operating Cash Flow | 1.02B | 1.13B | 654.10M | 949.50M | 459.90M | 616.20M |
| Investing Cash Flow | -732.80M | -1.08B | -269.80M | -320.70M | -476.20M | -335.90M |
| Financing Cash Flow | -1.08B | -756.40M | -325.60M | -123.60M | -245.90M | -639.80M |
Zalando Technical Analysis
Negative
27.44
Price Trends
26.21
Negative
23.86
Negative
23.43
Positive
Market Momentum
-0.78
Positive
35.55
Neutral
1.78
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:ZAL, the sentiment is Negative. The current price of 27.44 is above the 20-day moving average (MA) of 26.71, above the 50-day MA of 26.21, and above the 200-day MA of 23.43, indicating a neutral trend. The MACD of -0.78 indicates Positive momentum. The RSI at 35.55 is Neutral, neither overbought nor oversold. The STOCH value of 1.78 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:ZAL.
Zalando Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | €2.55B | 12.03 | 14.07% | 0.11% | -4.64% | -1.35% | |
59 Neutral | €5.80B | 62.11 | 3.47% | ― | 23.48% | -63.82% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | €106.46M | -2.01 | -37.56% | ― | -5.24% | 67.43% | |
52 Neutral | €114.39M | 81.19 | 1.15% | ― | 26.48% | ― | |
49 Neutral | €3.89B | -8.80 | -23.66% | 2.18% | -20.70% | -366.24% | |
45 Neutral | €37.44M | -1.24 | -68.17% | ― | -12.21% | 62.09% |
* General Sector Average
DE:ZAL
Zalando
22.78
-0.56
-2.40%
DE:PUM
PUMA SE NPV
25.63
8.34
48.24%
DE:BOSS
Hugo Boss
38.10
-2.61
-6.42%
DE:GFG
Global Fashion Group
0.46
0.08
20.26%
DE:BIKE
Bike24 Holding AG
2.58
-0.43
-14.29%
DE:MRX
Mister Spex SE
1.12
-0.76
-40.58%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.