Company Valuation: Zalando SE

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 22,931 17,857 8,387 5,557 8,318 6,004 6,004 -
Change - -22.13% -53.03% -33.74% 49.69% -27.82% 0% -
Enterprise Value (EV) 1 22,023 17,095 7,279 4,875 7,062 4,699 4,306 3,781
Change - -22.38% -57.42% -33.02% 44.84% -33.47% -8.36% -12.19%
P/E ratio 103x 80.8x 552x 67x 33.4x 22x 17.6x 12.8x
PBR 10.7x 8.29x 3.91x 2.37x 3.18x 2.06x 1.98x 1.7x
PEG - - -5.9x 0x 0x 2.1x 0.7x 0.3x
Capitalization / Revenue 2.87x 1.72x 0.81x 0.55x 0.79x 0.52x 0.43x 0.4x
EV / Revenue 2.76x 1.65x 0.7x 0.48x 0.67x 0.38x 0.31x 0.25x
EV / EBITDA 34.7x 24.3x 14.6x 7.45x 8.4x 5.04x 3.97x 3.02x
EV / EBIT 52.3x 36.5x 39.4x 13.9x 13.8x 8.14x 6.21x 4.63x
EV / FCF 77.4x 60.4x -387x 7.14x 18.6x 10.8x 8.44x 6x
FCF Yield 1.29% 1.66% -0.26% 14% 5.37% 9.25% 11.9% 16.7%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.88 0.88 0.06 0.32 0.97 1.072 1.341 1.835
Distribution rate - - - - - - - -
Net sales 1 7,982 10,354 10,345 10,143 10,572 12,346 14,089 14,989
EBITDA 1 635.3 703.8 497 654.1 840.3 932.5 1,085 1,251
EBIT 1 420.8 468.4 184.6 349.9 511.1 590.7 693.2 817.4
Net income 1 226.1 234.5 16.8 83 251.1 278.9 330.8 463.8
Net Debt 1 -907.9 -762.7 -1,108 -681.6 -1,256 -1,305 -1,698 -2,223
Reference price 2 91.06 71.14 33.11 21.45 32.39 23.54 23.54 23.54
Nbr of stocks (in thousands) 251,822 251,017 253,311 259,072 256,816 255,055 255,055 -
Announcement Date 3/16/21 3/3/22 3/7/23 3/13/24 3/6/25 3/12/26 - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.96x0.38x5.04x-.--% 6.87B
20.12x5.69x13x1% 637B
30.3x7.88x23.68x-.--% 402B
21.79x2.55x13.48x-.--% 151B
12x14.63x144.14x0.33% 125B
34.67x4.33x27.01x-.--% 106B
25.53x4.66x13.26x-.--% 75.72B
63.46x3.58x17.62x-.--% 70.1B
9.18x36.18x7.71x-.--% 47.03B
9.55x4.53x47.61x0.46% 43.77B
Average 24.85x 8.44x 31.25x 0.18% 166.46B
Weighted average by Cap. 24.54x 7.19x 27.27x 0.42%

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