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ZAL FINANCIAL STATEMENTS

Zalando SE — balance sheet, income statement and cash flow trends

ZALZalando SE

🇩🇪 Germany · XETRA · Consumer Cyclical · Internet Retail

Value itDuel
PriceFinancialsPeers

Income Statement

Quarterly progression — trailing-twelve-month values
RevenueNet Income
05 B10 B202120222023202420252026

Profit Funnel

Q1 2026 · TTM
Revenue12.9 B €Gross Profit5.1 B € · 40%Operating Income514.7 M € · 4%Pre-tax Income238.2 M € · 2%Net Income117.5 M € · 1%

Percentages are relative to revenue.

Key Figures

YoY change
Revenue12.9 B €+20.2%
Gross Profit5.1 B €+17.3%
Operating Income514.7 M €+25.0%
EBITDA978 M €+18.6%
Net Income117.5 M €-56.5%

Peer Comparison· Internet Retail

CompanyRev. GrowthGross MarginEBITDA MarginNet Margin
ZAL20.2%39.8%7.6%0.9%
Industry median11.8%50.7%11.9%6.3%

Balance Sheet

Quarterly period-end values
Total AssetsTotal LiabilitiesEquity
05 B10 B202120222023202420252026

Capital Structure

Q1 2026
Total Assets8.7 B
  • Equity2.7 B €31%
  • Current Liabilities4.6 B €53%
  • Long-term Liabilities1.4 B €16%

Key Figures

YoY change
Total Assets8.7 B €+7.4%
Total Liabilities6 B €+11.0%
Total Equity2.7 B €+0.3%
Cash & ST Investments1.3 B €-49.3%
Total Debt1.4 B €-17.8%
Net Debt147.9 M €—

Peer Comparison· Internet Retail

CompanyCurrent RatioDebt/EquityNetDebt/EBITDAEquity/Assets
ZAL1.0952.2%0.1531.0%
Industry median1.4332.5%-0.2634.5%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values
Operating Cash FlowCapital ExpendituresFree Cash Flow
0500 M1 B202120222023202420252026

Cash Flow Bridge

Q1 2026 · TTM
-500 M0500 M831.1 M €Operating-702.9 M €Investing-833.4 M €Financing-705.2 M €Net Change

Key Figures

YoY change
Operating Cash Flow831.1 M €+35.6%
Capital Expenditures187.6 M €+18.6%
Free Cash Flow643.5 M €+41.5%
Dividends Paid——

Peer Comparison· Internet Retail

CompanyCF MarginFCF MarginCapEx RatioCF/Net Income
ZAL6.4%5.0%1.5%707.3%
Industry median16.4%8.2%1.8%105.0%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 20, 26. This content is for informational purposes only and is not investment advice.