Latest Ratios: P/E Ratio 7.6x · EV/EBITDA 3.9x · ROE 11.9%. (2013–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.6B | $2.6B | $2.6B | $1.2B | $2.1B | $7.0B | — | — | — | — | — |
| Enterprise Value | $8.3B | $7.2B | $7.3B | $5.3B | $5.4B | $8.8B | — | — | — | — | — |
| P/E Ratio → | 7.56 | 5.33 | 1.20 | — | 0.45 | 1.51 | — | — | — | — | — |
| P/S Ratio | 0.53 | 0.37 | 0.31 | 0.23 | 0.16 | 0.65 | — | — | — | — | — |
| P/B Ratio | 0.90 | 0.64 | 0.64 | 0.48 | 0.35 | 1.52 | — | — | — | — | — |
| P/FCF | 2.26 | 1.59 | 0.73 | 1.31 | 0.36 | 1.41 | — | — | — | — | — |
| P/OCF | 1.99 | 1.40 | 0.69 | 1.16 | 0.34 | 1.17 | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.05 | 0.86 | 1.02 | 0.43 | 0.82 | — | — | — | — | — |
| EV / EBITDA | 3.90 | 3.40 | 2.01 | 5.21 | 0.72 | 1.34 | — | — | — | — | — |
| EV / EBIT | 9.85 | 6.39 | 2.72 | — | 0.86 | 1.51 | — | — | — | — | — |
| EV / FCF | — | 4.51 | 2.06 | 5.83 | 0.94 | 1.77 | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.8% | 16.8% | 32.9% | -3.8% | 51.0% | 56.3% | 21.1% | 7.4% | 4.2% | 9.1% | 1.7% |
| Operating Margin | 12.2% | 12.2% | 29.5% | -8.9% | 48.4% | 54.0% | 17.5% | 3.3% | 0.1% | 4.4% | -3.4% |
| Net Profit Margin | 6.9% | 6.9% | 25.5% | -52.2% | 36.8% | 43.3% | 13.0% | -0.5% | -3.9% | 0.2% | -6.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.9% | 11.9% | 66.1% | -64.5% | 88.0% | 190.4% | 4668.8% | — | — | — | — |
| ROA | 4.3% | 4.3% | 21.8% | -27.0% | 43.0% | 73.3% | 21.8% | -1.0% | -6.9% | 0.4% | -9.3% |
| ROIC | 7.3% | 7.3% | 24.4% | -4.4% | 58.5% | 109.8% | 39.7% | 8.0% | 0.2% | 8.6% | -5.6% |
| ROCE | 9.6% | 9.6% | 34.0% | -6.2% | 75.8% | 132.4% | 52.3% | 11.7% | 0.3% | 11.6% | -7.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.43 | 1.43 | 1.49 | 2.04 | 0.74 | 0.72 | 6.68 | — | — | — | — |
| Debt / EBITDA | 2.69 | 2.69 | 1.66 | 4.94 | 0.58 | 0.51 | 1.81 | 4.32 | 11.96 | 6.01 | 96.40 |
| Net Debt / Equity | — | 1.16 | 1.16 | 1.66 | 0.56 | 0.39 | 4.60 | — | — | — | — |
| Net Debt / EBITDA | 2.20 | 2.20 | 1.30 | 4.04 | 0.44 | 0.27 | 1.25 | 3.81 | 10.34 | 5.36 | 85.28 |
| Debt / FCF | — | 2.92 | 1.33 | 4.52 | 0.58 | 0.36 | 1.51 | 3.83 | 5.85 | 6.41 | — |
| Interest Coverage | 2.39 | 2.39 | 5.73 | -6.37 | 27.81 | 34.48 | 4.57 | 0.96 | -0.10 | 1.18 | -0.53 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.23 | 1.23 | 1.25 | 1.02 | 1.60 | 1.84 | 1.04 | 0.68 | 0.80 | 0.82 | 0.84 |
| Quick Ratio | 1.15 | 1.15 | 1.17 | 0.95 | 1.53 | 1.80 | 1.00 | 0.62 | 0.72 | 0.73 | 0.76 |
| Cash Ratio | 0.84 | 0.84 | 0.81 | 0.71 | 1.22 | 1.34 | 0.55 | 0.26 | 0.27 | 0.37 | 0.35 |
| Asset Turnover | — | 0.63 | 0.74 | 0.62 | 1.08 | 1.09 | 1.41 | 1.71 | 1.78 | 1.65 | 1.49 |
| Inventory Turnover | 34.25 | 34.25 | 26.65 | 29.88 | 32.31 | 39.38 | 60.29 | 50.64 | 44.13 | 42.42 | 60.16 |
| Days Sales Outstanding | — | 34.55 | 39.35 | 39.77 | 23.27 | 41.58 | 44.80 | 32.25 | 39.65 | 28.27 | 28.57 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 14.2% | 20.2% | 22.4% | 64.8% | 100.0% | 7.7% | — | — | — | — | — |
| Payout Ratio | 107.6% | 107.6% | 27.0% | — | 71.5% | 11.6% | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 13.2% | 18.7% | 83.0% | — | 223.1% | 66.3% | — | — | — | — | — |
| FCF Yield | 44.3% | 62.8% | 136.8% | 76.2% | 278.4% | 70.9% | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — |
| Total Shareholder Yield | 14.2% | 20.2% | 22.4% | 64.8% | 100.0% | 7.7% | — | — | — | — | — |
| Shares Outstanding | — | $121M | $120M | $120M | $120M | $119M | $120M | $118M | $104M | $100M | $100M |
Includes 30+ ratios · 13 years · Updated daily
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Quick answers to the most common questions about buying ZIM stock.
ZIM Integrated Shipping Services Ltd.'s current P/E ratio is 7.6x. The historical average is 2.1x. This places it at the 100th percentile of its historical range.
ZIM Integrated Shipping Services Ltd.'s current EV/EBITDA is 3.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 2.5x.
ZIM Integrated Shipping Services Ltd.'s return on equity (ROE) is 11.9%. The historical average is 5.2%.
Based on historical data, ZIM Integrated Shipping Services Ltd. is trading at a P/E of 7.6x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
ZIM Integrated Shipping Services Ltd.'s current dividend yield is 14.22% with a payout ratio of 107.6%.
ZIM Integrated Shipping Services Ltd. has 16.8% gross margin and 12.2% operating margin. Operating margin between 10-20% is typical for established companies.
ZIM Integrated Shipping Services Ltd.'s Debt/EBITDA ratio is 2.7x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Charter cost floor amid rate normalization
Deep Value or Value Trap?
ZIM trades at a P/E of 6.94 and P/B of 0.83, suggesting the market deeply discounts its future earnings power due to the extreme cyclicality and embedded charter cost risks inherent in its asset-light model.
The compressed valuation multiples relative to historical peaks reflect a market pricing in the rapid normalization of freight rates and the structural margin pressure from high-cost charter obligations. This discount appears justified given the demonstrated volatility in returns, where ROE has swung from 33.0% to negative in recent quarters, signaling that current earnings are not indicative of normalized profitability.
Margin Volatility Exposes Structural Weakness
Gross margin collapsed from 47.1% to just 4.1% before recovering to 31.8%, illustrating how ZIM's variable-cost-heavy model fails to protect profitability when spot freight rates fall below fixed charter obligations.
The extreme margin swings, including a net loss in 2026Q1, demonstrate that the company's earnings power is almost entirely dictated by the spread between volatile spot rates and relatively sticky charter costs. This indicates that the 'asset-light' model is not a buffer but rather amplifies earnings volatility through operational leverage, making true underlying profitability difficult to assess on a quarterly basis.
Returns Decaying Amid Rate Normalization
Return on Invested Capital has deteriorated from a peak of 11.7% in 2024Q3 to just 1.3% in 2026Q2, indicating that the company's capital base is no longer generating meaningful returns as the super-cycle fades.
The ROIC trend reveals a business that is rapidly losing its ability to compound value, with returns falling well below the likely cost of capital. This decay is driven not by asset bloat but by collapsing margins, as the charter-heavy cost structure ensures that profitability erodes faster than asset efficiency can adjust, pointing to significant capital destruction risk if low freight rates persist.
Leverage Distorted by Charter Accounting
Reported Debt/Equity of 1.37 is heavily inflated by IFRS 16 capitalized lease obligations, masking a 'synthetic' leverage where high charter payments act as fixed financial claims on cash flow regardless of operational performance.
While the headline leverage ratio suggests a strained but manageable balance sheet, the true financial risk lies in the contractual charter commitments that cannot be easily shed. The interest coverage ratio's volatility, plunging to 0.12 in 2026Q1, exposes how vulnerable cash flow is to even modest declines in operating income, suggesting covenant or liquidity pressure could emerge if the downturn deepens.
The Peril of the 'Asset-Light' Metric
The most misapplied ratio to ZIM is the traditional Debt/Equity, which critically understates financial risk by failing to account for the fixed, long-term charter obligations that function like high-cost financial debt under IFRS 16.
Analysts focusing solely on the reported 1.37 D/E ratio may miss the core risk: that over 90% of the fleet is chartered, creating a massive, semi-fixed cost base that behaves like leverage. A more appropriate metric would be to analyze charter obligations as a percentage of enterprise value or to use a cash-adjusted leverage ratio that treats charter payments as a committed cash outflow, which would likely reveal a more precarious financial position.