ZKH Group Limited (ZKH) Financial Ratios
5 years of historical data (2020–2024) · Consumer Cyclical · Specialty Retail
EV/EBITDA
5.99
—
5yr avg: N/A
P/FCF
22.91
↑+481% vs avg
5yr avg: 3.94
30Y Low3.9·High3.9
P/B Ratio
↓
1.08
↑+114% vs avg
5yr avg: 0.50
30Y Low0.2·High0.8
ROE
↑
-8.5%
↓+93% vs avg
5yr avg: -122.1%
30Y Low-458%·High-8%
Debt/EBITDA
1.33
+0% vs avg
5yr avg: 1.33
30Y Low1.3·High1.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ZKH Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
ZKH Group Limited currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 22.9x P/FCF, 481% above the 5-year average of 3.9x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Market Cap | $492M | $575M | $2.6B | — | — | — |
| Enterprise Value | $363M | $-300028570 | $2.4B | — | — | — |
| P/E Ratio → | -12.44 | — | — | — | — | — |
| P/S Ratio | 0.38 | 0.07 | 0.30 | — | — | — |
| P/B Ratio | 1.08 | 0.19 | 0.82 | — | — | — |
| P/FCF | 22.91 | 3.94 | — | — | — | — |
| P/OCF | 14.60 | 2.51 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
ZKH EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
ZKH Group Limited's enterprise value stands at 6.0x EBITDA. The Consumer Cyclical sector median is 11.4x, placing the stock at a 47% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.03 | 0.27 | — | — | — |
| EV / EBITDA | 5.99 | -0.73 | — | — | — | — |
| EV / EBIT | 7.29 | — | — | — | — | — |
| EV / FCF | — | -2.05 | — | — | — | — |
ZKH Profitability
Margins and return-on-capital ratios measuring operating efficiency
ZKH Group Limited earns an operating margin of 3.9%, roughly in line with the Consumer Cyclical sector average. Operating margins have expanded from -8.2% to 3.9% over the past 3 years, signaling improving operational efficiency. A negative ROE of -8.5% indicates the company is currently destroying shareholder equity. ROIC of 9.8% represents adequate returns on invested capital versus a sector median of 5.8%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Gross Margin | 17.2% | 17.2% | 16.7% | 15.8% | 13.6% | 14.5% |
| Operating Margin | 3.9% | 3.9% | -4.6% | -8.2% | -14.5% | -8.5% |
| Net Profit Margin | -3.1% | -3.1% | -3.5% | -8.8% | -14.7% | -8.6% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| ROE | -8.5% | -8.5% | -9.5% | — | -458.3% | -12.3% |
| ROA | -3.8% | -3.8% | -4.3% | -11.5% | -19.5% | -7.2% |
| ROIC | 9.8% | 9.8% | -10.1% | — | — | -17.6% |
| ROCE | 10.2% | 10.2% | -11.9% | -23.3% | -36.7% | -11.4% |
ZKH Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
ZKH Group Limited carries a Debt/EBITDA ratio of 1.3x, which is manageable (70% below the sector average of 4.4x). The company holds a net cash position — cash of $1.4B exceeds total debt of $549M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 17.8x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.18 | 0.18 | 0.26 | — | — | 0.13 |
| Debt / EBITDA | 1.33 | 1.33 | — | — | — | — |
| Net Debt / Equity | — | -0.28 | -0.08 | — | — | -0.51 |
| Net Debt / EBITDA | -2.12 | -2.12 | — | — | — | — |
| Debt / FCF | — | -5.99 | — | — | — | — |
| Interest Coverage | 17.83 | 17.83 | -20.61 | -7.28 | -104.83 | -98.55 |
Net cash position: cash ($1.4B) exceeds total debt ($549M)
ZKH Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.85x means ZKH Group Limited can comfortably meet its short-term obligations, though there is limited excess liquidity.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Current Ratio | 1.85 | 1.85 | 1.73 | 1.80 | 1.56 | 2.45 |
| Quick Ratio | 1.67 | 1.67 | 1.56 | 1.62 | 1.33 | 2.24 |
| Cash Ratio | 0.59 | 0.59 | 0.49 | 0.56 | 0.16 | 0.98 |
| Asset Turnover | — | 1.33 | 1.18 | 1.22 | 1.29 | 0.84 |
| Inventory Turnover | 11.59 | 11.59 | 10.87 | 10.67 | 8.67 | 8.94 |
| Days Sales Outstanding | — | 139.73 | 167.11 | 148.27 | 150.61 | 152.23 |
ZKH Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
ZKH Group Limited returns 1.2% to shareholders annually primarily through share buybacks.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — |
| FCF Yield | 4.4% | 25.4% | — | — | — | — |
| Buyback Yield | 1.2% | 7.1% | 0.0% | — | — | — |
| Total Shareholder Yield | 1.2% | 7.1% | 0.0% | — | — | — |
| Shares Outstanding | — | $164M | $162M | $151M | $139M | $129M |
Peer Comparison
Compare ZKH with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ZKHYou | $492M | -12.4 | 6.0 | 22.9 | 17.2% | 3.9% | -8.5% | 9.8% | 1.3 |
 FAST | $51B | 40.5 | 30.7 | 48.3 | 45.0% | 20.2% | 33.3% | 31.2% | 0.3 |
 GWW | $58B | 34.9 | 20.7 | 43.9 | 39.1% | 15.0% | 43.5% | 32.1% | 1.1 |
 MSM | $6B | 29.2 | 15.6 | 24.2 | 40.8% | 8.3% | 14.2% | 12.3% | 1.3 |
 SITE | $5B | 35.9 | 16.2 | 21.7 | 34.8% | 5.1% | 9.3% | 7.3% | 2.6 |
 WSO | $17B | 34.3 | 23.3 | 31.9 | 28.0% | 9.6% | 15.8% | 16.6% | 0.7 |
 POOL | $7B | 17.3 | 11.3 | 22.3 | 29.7% | 11.0% | 33.1% | 22.3% | 0.6 |
 NOW | $94B | 54.6 | 36.7 | 20.6 | 77.5% | 13.7% | 15.5% | 12.4% | 1.3 |
 DXPE | $2B | 29.1 | 14.4 | 44.9 | 31.5% | 8.8% | 19.3% | 12.5% | 4.6 |
 MMM | $75B | 23.9 | 15.2 | 53.5 | 39.6% | 18.3% | 75.2% | 28.1% | 2.4 |
 HON | $135B | 29.0 | 19.8 | 25.0 | 36.9% | 17.5% | 27.3% | 12.6% | 4.3 |
| Consumer Cyclical Median | — | 19.3 | 11.4 | 15.3 | 36.8% | 2.9% | 5.6% | 5.8% | 4.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 5 years · Updated daily
See ZKH's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs ZKH Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare ZKH vs FAST
Side-by-side business, growth, and profitability comparison vs Fastenal Company.
Start ComparisonZKH — Frequently Asked Questions
Quick answers to the most common questions about buying ZKH stock.
What is ZKH Group Limited's P/E ratio?
ZKH Group Limited's current P/E ratio is -12.4x. This places it at the 50th percentile of its historical range.
What is ZKH Group Limited's EV/EBITDA?
ZKH Group Limited's current EV/EBITDA is 6.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
What is ZKH Group Limited's ROE?
ZKH Group Limited's return on equity (ROE) is -8.5%. The historical average is -122.1%.
Is ZKH stock overvalued?
Based on historical data, ZKH Group Limited is trading at a P/E of -12.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are ZKH Group Limited's profit margins?
ZKH Group Limited has 17.2% gross margin and 3.9% operating margin.
How much debt does ZKH Group Limited have?
ZKH Group Limited's Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.