Zalando SE (ZLNDY)
OTHER OTC:ZLNDY
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Zalando SE
(OTC:ZLNDY)
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Rating:56Neutral
Price Target:
$12.00
▼(-17.64% Downside)
Action:Reiterated
Date:05/09/26
The score is primarily supported by improving revenue momentum and a de-risked balance sheet with very low leverage. Offsetting this, profitability is still very thin and free cash flow has stepped down year over year. Technically, the stock screens weak (below key moving averages with negative MACD and low RSI/Stoch), and valuation support is limited due to a negative P/E and no dividend yield data.
Positive Factors
De-risked balance sheet
Zalando's very low TTM debt-to-equity (~0.07) provides durable financial flexibility: it lowers interest burden, supports investment in logistics and tech, and helps absorb macro shocks without forced capital raises. This strengthens capacity to pursue long-term strategic initiatives.
Negative Factors
Thin profitability
Narrow operating and net margins leave limited buffer for rising costs, promotional pressure, and returns. Such thin profitability constrains the company's ability to invest while preserving returns on equity, and means modest revenue or cost swings can materially reduce earnings and strategic optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
De-risked balance sheet
Zalando's very low TTM debt-to-equity (~0.07) provides durable financial flexibility: it lowers interest burden, supports investment in logistics and tech, and helps absorb macro shocks without forced capital raises. This strengthens capacity to pursue long-term strategic initiatives.
Read all positive factors
Zalando SE (ZLNDY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.07B
Dividend YieldN/A
Average Volume (3M)1.11K
Price to Earnings (P/E)―
Beta (1Y)1.02
Revenue Growth29.92%
EPS Growth-54.15%
CountryUS
Employees15,463
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)0.23
Shares Outstanding528,387,940
10 Day Avg. Volume511
30 Day Avg. Volume1,112
Financial Highlights & Ratios
PEG Ratio-1.81
Price to Book (P/B)2.32
Price to Sales (P/S)0.55
P/FCF Ratio6.62
Enterprise Value/Market Cap0.90
Enterprise Value/Revenue0.42
Enterprise Value/Gross Profit1.06
Enterprise Value/Ebitda5.60
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.89
Revenue Forecast (FY)$16.42B
Zalando SE Business Overview & Revenue Model
Company Description
Zalando SE operates an online platform for fashion and lifestyle products. It provides clothing, footwear, accessories, and beauty products with free delivery and returns. The company also sells its products through its Zalando Lounge; and brick-a...
How the Company Makes Money
Zalando primarily makes money through (1) retail sales on its own platform and (2) partner/brand services that monetize its marketplace and supporting infrastructure. In its retail model, Zalando purchases inventory from brands and sells products ...
Zalando SE Earnings Call Summary
Earnings Call Date:Nov 06, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Neutral
The earnings call reflects a strong quarter for Zalando with significant growth in both B2C and B2B segments, bolstered by strategic partnerships and successful integration of ABOUT YOU. However, the inclusion of ABOUT YOU has also brought challenges, notably in terms of profitability and increased costs. Overall, the positive achievements and strategic developments outweigh the negatives, but the financial challenges remain notable.Positive Updates
Strong Financial Performance in Q3 2025
Achieved 6.7% year-on-year pro forma GMV growth and 7.5% pro forma revenue growth. Adjusted EBIT reached EUR 96 million, slightly surpassing last year's figures.
Negative Updates
Impact of ABOUT YOU on Profitability
Inclusion of ABOUT YOU negatively impacted adjusted EBIT margin, lowering it by 0.7 percentage points to 3.2%.
Read all updates
Q3-2025 Updates
Positive
Negative
Strong Financial Performance in Q3 2025
Achieved 6.7% year-on-year pro forma GMV growth and 7.5% pro forma revenue growth. Adjusted EBIT reached EUR 96 million, slightly surpassing last year's figures.
Read all positive updates
Company Guidance
In the Q3 2025 earnings call, Zalando reported strong financial performance, with a 6.7% year-on-year pro forma GMV growth and a 7.5% pro forma revenue growth. The company's profitability remained solid, with an adjusted EBIT of EUR 96 million, slightly surpassing last year's figures. The B2B segment achieved a 15.6% year-over-year revenue increase, driven by ZEOS Fulfillment and the inclusion of SCAYLE. Zalando confirmed its full-year 2025 guidance, including the results of ABOUT YOU from July 11, 2025, onwards. The company also secured a significant partnership with the German Football Federation, positioning itself as a leading destination for sports enthusiasts. With over 60 million active customers, Zalando aims to accelerate growth and increase profit, aligning with its midterm targets for 2028.Zalando SE Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.93B | 11.86B | 10.57B | 10.14B | 10.34B | 10.35B |
| Gross Profit | 5.15B | 4.43B | 4.30B | 3.68B | 4.06B | 4.33B |
| EBITDA | 979.12M | 780.72M | 811.30M | 572.50M | 395.30M | 660.20M |
| Net Income | 115.18M | 206.61M | 251.10M | 83.00M | 16.80M | 234.50M |
Balance Sheet | ||||||
| Total Assets | 8.72B | 9.69B | 7.98B | 8.11B | 7.63B | 6.90B |
| Cash, Cash Equivalents and Short-Term Investments | 1.26B | 1.88B | 2.69B | 2.62B | 2.04B | 2.29B |
| Total Debt | 1.41B | 1.44B | 1.73B | 1.85B | 1.72B | 1.57B |
| Total Liabilities | 6.02B | 6.86B | 5.32B | 5.73B | 5.43B | 4.68B |
| Stockholders Equity | 2.70B | 2.82B | 2.67B | 2.37B | 2.20B | 2.22B |
Cash Flow | ||||||
| Free Cash Flow | 606.49M | 987.72M | 447.30M | 686.30M | 108.30M | 283.30M |
| Operating Cash Flow | 793.61M | 1.08B | 654.10M | 949.50M | 459.90M | 616.20M |
| Investing Cash Flow | -706.51M | -1.04B | -269.80M | -320.70M | -476.20M | -335.90M |
| Financing Cash Flow | -829.02M | -726.55M | -325.60M | -123.60M | -245.90M | -639.80M |
Zalando SE Technical Analysis
Neutral
14.57
Price Trends
12.46
Negative
12.90
Negative
13.64
Negative
Market Momentum
-0.30
Negative
48.76
Neutral
65.57
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ZLNDY, the sentiment is Neutral. The current price of 14.57 is above the 20-day moving average (MA) of 11.94, above the 50-day MA of 12.46, and above the 200-day MA of 13.64, indicating a neutral trend. The MACD of -0.30 indicates Negative momentum. The RSI at 48.76 is Neutral, neither overbought nor oversold. The STOCH value of 65.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ZLNDY.
Zalando SE Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $6.81B | 6.04 | 17.98% | 2.46% | -2.12% | -0.37% | |
69 Neutral | $4.27B | -69.24 | 11.27% | 3.10% | 26.47% | -53.64% | |
66 Neutral | $5.78B | 17.26 | -25.47% | ― | 1.78% | 75.71% | |
66 Neutral | $1.33B | 28.14 | 12.85% | ― | 10.02% | 26.46% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | $6.07B | -15.16 | 4.22% | ― | 29.92% | -54.15% | |
52 Neutral | $8.54B | -23.46 | 10.98% | ― | 6.80% | 18.24% |
* Consumer Cyclical Sector Average
ZLNDY
Zalando SE
11.97
-5.27
-30.57%
VIPS
Vipshop
14.52
0.53
3.80%
W
Wayfair
66.34
30.12
83.16%
ETSY
Etsy
60.74
12.78
26.65%
RVLV
Revolve Group
19.08
-0.54
-2.75%
MNSO
MINISO Group Holding
13.74
-7.69
-35.90%
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.