Company Valuation: Zalando SE

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 17,857 8,387 5,557 8,318 6,463 5,417 - -
Change - -53.03% -33.74% 49.69% -22.3% -16.19% - -
Enterprise Value (EV) 1 17,095 7,279 4,875 7,062 6,027 4,476 3,973 3,491
Change - -57.42% -33.02% 44.84% -14.65% -25.74% -11.24% -12.13%
P/E 80.8x 552x 67x 33.4x 30.9x 21.7x 13.4x 10.5x
PBR 8.29x 3.91x 2.37x 3.18x 2.36x 2.01x 1.77x 1.55x
PEG - -5.9x 0x 0x -2x 0.8x 0.2x 0.4x
Capitalization / Revenue 1.72x 0.81x 0.55x 0.79x 0.52x 0.39x 0.37x 0.35x
EV / Revenue 1.65x 0.7x 0.48x 0.67x 0.49x 0.32x 0.27x 0.23x
EV / EBITDA 24.3x 14.6x 7.45x 8.4x 6.05x 4.15x 3.28x 2.51x
EV / EBIT 36.5x 39.4x 13.9x 13.8x 10.2x 6.49x 4.9x 3.69x
EV / FCF 60.4x -387x 7.14x 18.6x 6.67x 11.9x 5.84x 4.8x
FCF Yield 1.66% -0.26% 14% 5.37% 15% 8.41% 17.1% 20.8%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.88 0.06 0.32 0.97 0.82 1.05 1.699 2.175
Distribution rate - - - - - - - -
Net sales 1 10,354 10,345 10,143 10,572 12,346 13,871 14,643 15,398
EBITDA 1 703.8 497 654.1 840.3 995.6 1,080 1,212 1,393
EBIT 1 468.4 184.6 349.9 511.1 590.7 690.1 810 945.2
Net income 1 234.5 16.8 83 251.1 215.1 257.3 425.1 532.4
Net Debt 1 -762.7 -1,108 -681.6 -1,256 -435.8 -940.9 -1,444 -1,926
Reference price 2 71.14 33.11 21.45 32.39 25.34 22.78 22.78 22.78
Nbr of stocks (in thousands) 251,017 253,311 259,072 256,816 255,055 241,062 - -
Announcement Date 3/3/22 3/7/23 3/13/24 3/6/25 3/12/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.67x4.16x9.6x1.31% 517B
22.36x6.61x19.86x-.--% 334B
23.94x2.81x14.3x-.--% 160B
34.97x6.94x19.5x-.--% 109B
37.4x4.36x28.84x-.--% 110B
86.07x5.12x24.46x-.--% 96.35B
3.02x81.86x2.28x0.14% 106B
10.4x7.92x92.48x0.65% 92.84B
8.4x2.7x58.65x0.74% 36.6B
Average 26.92x 13.61x 30.00x 0.31% 173.5B
Weighted average by Cap. 23.82x 10.28x 20.81x 0.5%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield