The company's financial flexibility appears constrained by a debt-to-equity ratio of 1.43 and a narrowing current ratio of 1.19, which may limit the firm's ability to navigate prolonged industry weakness.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Total Current Assets | 2.55B | 2.63B | 3.26B | 2.57B | 4.27B | 5.08B | 1.2B | 630.82M | 746.64M | 562.66M | 444.69M | 616.28M | 762.51M | 519.55M |
| Cash & Short-Term Investments | 1.63B | 1.79B | 2.12B | 1.8B | 3.26B | 3.69B | 629.39M | 241.83M | 254.94M | 252.56M | 186.88M | 248.14M | 253.01M | 141.55M |
| Cash Only | 921.6M | 1.05B | 1.31B | 921.5M | 1.02B | 1.54B | 570.41M | 182.79M | 186.29M | 157.89M | 157.6M | 218.74M | 230.51M | 123.3M |
| Short-Term Investments | 705.7M | 735.1M | 800.4M | 874.1M | 2.23B | 2.14B | 58.98M | 59.05M | 68.65M | 94.67M | 29.28M | 28.81M | 21.11M | 17.5M |
| Accounts Receivable | 720.9M | 653.5M | 908.5M | 562.5M | 800.8M | 1.22B | 489.99M | 291.53M | 352.82M | 230.66M | 198.73M | 164.58M | 204.39M | 208.08M |
| Days Sales Outstanding | 40.87 | 34.55 | 39.35 | 39.77 | 23.27 | 41.58 | 44.8 | 32.25 | 39.65 | 28.27 | 28.57 | 20.08 | 21.89 | 20.63 |
| Inventory | 206.6M | 167.8M | 212.2M | 179.3M | 190.7M | 118.97M | 52.24M | 60.34M | 70.49M | 63.84M | 41.48M | 44.57M | 78.42M | 100.88M |
| Days Inventory Outstanding | 12.3 | 10.66 | 13.69 | 12.22 | 11.3 | 9.27 | 6.05 | 7.21 | 8.27 | 8.6 | 6.07 | 6.04 | 9.04 | 10.36 |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11.58M | 53.37M | 16.94M | 21.2M | 132.32M | 202.64M | 50.35M |
| Total Non-Current Assets | 8.02B | 8.38B | 8.13B | 5.77B | 7.35B | 4.76B | 1.62B | 1.3B | 1.08B | 1.24B | 1.26B | 1.3B | 1.39B | 2.08B |
| Property, Plant & Equipment | 6.78B | 7.04B | 6.84B | 4.64B | 5.75B | 4.39B | 1.54B | 1.21B | 990.11M | 1.11B | 1.12B | 1.1B | 1.13B | 1.97B |
| Fixed Asset Turnover | 0.91x | 0.98x | 1.23x | 1.11x | 2.18x | 2.44x | 2.60x | 2.72x | 3.28x | 2.69x | 2.27x | 2.72x | 3.02x | 1.87x |
| Goodwill | 0 | 0 | 0 | 0 | 9.6M | 6.27M | 7.56M | 8.3M | 8.23M | 10.09M | 10.23M | 11.63M | 14.34M | 15.17M |
| Intangible Assets | 108.5M | 109.4M | 109.8M | 102M | 83.3M | 67.56M | 58.9M | 56.62M | 56.41M | 51.1M | 41.26M | 38.73M | 42.73M | 47.01M |
| Long-Term Investments | 4.69B | 1.22B | 1.11B | 935.1M | 1.4B | 181.42M | 13.33M | 11.21M | 11.54M | 30.55M | 28.02M | 82.81M | 90.05M | 10.81M |
| Other Non-Current Assets | 0 | 0 | 61M | 97.9M | 112.1M | 107.02M | 5.29M | 5.32M | 12.16M | 38.41M | 59.4M | 62.19M | 116.7M | 41.32M |
| Total Assets | 10.58B | 11.01B | 11.39B | 8.35B | 11.63B | 9.84B | 2.82B | 1.93B | 1.83B | 1.8B | 1.7B | 1.91B | 2.16B | 2.6B |
| Asset Turnover | 0.58x | 0.63x | 0.74x | 0.62x | 1.08x | 1.09x | 1.41x | 1.71x | 1.78x | 1.65x | 1.49x | 1.56x | 1.58x | 1.42x |
| Asset Growth % | 1.7% | -3.35% | 36.47% | -28.21% | 18.12% | 248.48% | 46.63% | 5.47% | 1.32% | 5.79% | -10.91% | -11.31% | -17.12% | - |
| Total Current Liabilities | 2.15B | 2.13B | 2.61B | 2.52B | 2.66B | 2.76B | 1.15B | 926.34M | 932.97M | 686.69M | 530.84M | 610.93M | 788.63M | 2.45B |
| Accounts Payable | 703.7M | 467.1M | 508.3M | 414.6M | 427.2M | 433.9M | 304.96M | 350.77M | 377.85M | 275.74M | 261.56M | 266.11M | 340.87M | 406.86M |
| Days Payables Outstanding | 42.17 | 29.67 | 32.8 | 28.25 | 25.31 | 33.8 | 35.35 | 41.9 | 44.34 | 37.17 | 38.25 | 36.07 | 39.3 | 41.78 |
| Short-Term Debt | 1.11B | 1.14B | 47.8M | 48.2M | 96.1M | 130.7M | 138.57M | 140.07M | 203.8M | 313.09M | 77.22M | 146.55M | 207.76M | 1.73B |
| Deferred Revenue (Current) | 1.05B | 254.2M | 420.1M | 207.6M | 238.9M | 628.5M | 238.31M | 141.45M | 158.14M | 0 | 6.53M | 0 | 0 | 0 |
| Other Current Liabilities | 117.6M | 224M | 109.2M | 171.6M | 425.1M | 41.45M | 45.36M | 56.54M | 62.44M | -37.13M | 81.56M | 70.49M | 88.24M | 72.25M |
| Current Ratio | 1.19x | 1.23x | 1.25x | 1.02x | 1.60x | 1.84x | 1.04x | 0.68x | 0.80x | 0.82x | 0.84x | 1.01x | 0.97x | 0.21x |
| Quick Ratio | 1.09x | 1.15x | 1.17x | 0.95x | 1.53x | 1.80x | 1.00x | 0.62x | 0.72x | 0.73x | 0.76x | 0.94x | 0.87x | 0.17x |
| Cash Conversion Cycle | 11 | 15.54 | 20.24 | 23.74 | 9.26 | 17.05 | 15.51 | -2.44 | 3.59 | -0.29 | -3.62 | -9.95 | -8.38 | -10.79 |
| Total Non-Current Liabilities | 4.6B | 4.85B | 4.74B | 3.37B | 3.07B | 2.49B | 1.4B | 1.25B | 1.12B | 1.21B | 1.27B | 1.22B | 1.29B | 733.84M |
| Long-Term Debt | 43.1M | 47.2M | 45.6M | 73.6M | 91.9M | 120.8M | 519.47M | 541.93M | 553.2M | 577.17M | 610.56M | 596M | 623.13M | 380.18M |
| Capital Lease Obligations | 17.95B | 4.55B | 4.6B | 3.24B | 2.78B | 2.18B | 811.84M | 641.75M | 503.5M | 557.86M | 595.16M | 551.38M | 576.48M | 266.99M |
| Deferred Tax Liabilities | 655.4M | 186.2M | 27.6M | 6.1M | 151.4M | 120.62M | 339K | 350K | 346K | 349K | 354K | 0 | 0 | 0 |
| Other Non-Current Liabilities | 71.5M | 63.4M | 61.8M | 46.1M | 45.2M | 65.59M | 66.63M | 67.99M | 60.13M | 73.76M | 67.38M | 75.27M | 88.65M | 86.67M |
| Total Liabilities | 6.75B | 6.98B | 7.35B | 5.89B | 5.73B | 5.24B | 2.55B | 2.18B | 2.05B | 1.9B | 1.8B | 1.83B | 2.08B | 3.18B |
| Total Debt | 5.48B | 5.74B | 6.02B | 5.01B | 4.35B | 3.32B | 1.83B | 1.54B | 1.37B | 1.45B | 1.37B | 1.38B | 1.48B | 2.52B |
| Net Debt | 4.56B | 4.69B | 4.7B | 4.09B | 3.33B | 1.78B | 1.26B | 1.36B | 1.18B | 1.29B | 1.21B | 1.16B | 1.18B | 2.26B |
| Debt / Equity | 1.43x | 1.43x | 1.49x | 2.04x | 0.74x | 0.72x | 6.68x | - | - | - | - | 17.48x | 18.66x | - |
| Debt / EBITDA | 3.29x | 2.69x | 1.66x | 4.94x | 0.58x | 0.51x | 1.81x | 4.32x | 11.96x | 6.01x | 96.40x | 8.14x | 13.17x | - |
| Net Debt / EBITDA | 2.73x | 2.20x | 1.30x | 4.04x | 0.44x | 0.27x | 1.25x | 3.81x | 10.34x | 5.36x | 85.28x | 6.85x | 10.47x | - |
| Interest Coverage | 1.04x | 1.78x | 5.73x | -6.37x | 27.81x | 34.48x | 4.57x | 0.96x | -0.10x | 1.18x | -0.53x | - | - | - |
| Total Equity | 3.83B | 4.03B | 4.04B | 2.46B | 5.9B | 4.6B | 274.45M | -252.27M | -224.01M | -93.49M | -100.66M | 78.74M | 79.39M | -578.16M |
| Equity Growth % | 33.36% | -0.42% | 64.47% | -58.31% | 28.18% | 1575.88% | 208.8% | -12.61% | -139.61% | 7.12% | -227.83% | -0.82% | 113.73% | - |
| Book Value per Share | 31.77 | 33.40 | 33.55 | 20.45 | 48.95 | 38.67 | 2.28 | -2.15 | -2.15 | -0.93 | -1.01 | 0.79 | 0.79 | -0.58 |
| Total Shareholders' Equity | 3.82B | 4.02B | 4.04B | 2.45B | 5.89B | 4.59B | 267.27M | -257.67M | -230.29M | -100M | -103.78M | 74.77M | 72.27M | -582.57M |
| Common Stock | 939M | 927.6M | 927.3M | 926.6M | 925.9M | 923.16M | 88K | 88K | 88K | 88K | 88K | 88K | 88K | 42.3M |
| Retained Earnings | 1.78B | 1.97B | 2B | 437.2M | 3.9B | 2.58B | -1.52B | -2.04B | -2.02B | -788.72M | -791.56M | -625.24M | -631.66M | -1.24B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 1.11B | 1.12B | 1.11B | 1.09B | 1.99B | 2.01B | 1.79B | 1.08B | 1.09B | -11.59M | -12.53M | -303K | 3.62M | 78.08M |
| Minority Interest | 3.9M | 4.7M | 5.8M | 3.3M | 6.3M | 7.52M | 7.19M | 5.4M | 6.28M | 6.51M | 3.13M | 3.98M | 7.12M | 4.41M |
Charter hire cost rigidity
As reported in recent financial statements, ZIM's total assets have contracted from a peak of $11.5 billion in 2025Q1 to $10.6 billion in 2026Q1, signaling a clear trend of balance sheet shrinkage as the company navigates the post-pandemic normalization of global container shipping demand.
The reduction in total assets appears to be driven by the ongoing recalibration of the fleet and the expiration of high-cost charter arrangements. Investors should monitor whether this contraction represents a disciplined rightsizing of the business or a forced liquidation of capacity in response to persistent margin pressure.
According to recent SEC filings, ZIM's debt-to-equity ratio remains elevated at 1.43 as of 2026Q1, reflecting the significant impact of IFRS 16 lease capitalization on the company's reported leverage profile during a period of declining freight rates.
Because the vast majority of ZIM's fleet is chartered, these lease liabilities function as fixed costs that do not scale down with revenue. This structure creates a synthetic leverage effect that may limit the company's ability to maneuver if the current cyclical downturn persists longer than anticipated.
Based on ZIM's reported figures, the current ratio has fluctuated from a high of 1.33 in 2024Q3 to 1.19 in 2026Q1, indicating a narrowing margin of safety for meeting short-term obligations as cash reserves have declined to $921.6 million.
The decline in cash reserves suggests that the company is consuming its liquidity buffer to sustain operations and meet fixed charter commitments. This trend warrants close investigation, as a further reduction in the current ratio could signal increased reliance on external financing to maintain operational continuity.
As evidenced by the balance sheet, the company's $6.8 billion in net PPE is heavily comprised of capitalized right-of-use assets, which may be subject to significant impairment risk if charter market conditions continue to deteriorate relative to the rates locked into these long-term lease agreements.
The reliance on these capitalized assets means that the balance sheet is highly sensitive to the discount rates and lease terms applied at the time of contract inception. Investors should be wary that the headline asset value may not reflect the current market reality of the underlying vessel charter values.
Quick answers to the most common questions about buying ZIM stock.
As of 2025, ZIM Integrated Shipping Services Ltd. (ZIM) had total assets of $11.01B including $2.63B in current assets.
ZIM Integrated Shipping Services Ltd. (ZIM) carries total debt of $5.74B, offset by $1.79B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
ZIM Integrated Shipping Services Ltd. (ZIM) has total shareholders' equity (book value) of $4.02B ($33.40 book value per share). Book value represents the net worth of the company belonging to common stock holders.
ZIM Integrated Shipping Services Ltd. (ZIM) reported a current ratio of 1.23x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.