Zalando SE (HAM:ZAL) Change In Receivables: €-10 Mil (TTM As of Jun. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HAM:ZAL Zalando SE HAM:ZAL
84 GF Score
Price €24.00
GF Value €32.91
Valuation Modestly Undervalued
! 5 Warning Signs
View Full Analysis

What is Zalando SE Change In Receivables?

Zalando SE HAM:ZAL -0.50% 84 Change In Receivables is €-10 Mil as of Jun. 2026. GuruFocus rates HAM:ZAL with a GF Score™ of 84/100 and a GF Value™ of €32.91 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Zalando SE's change in receivables for the quarter that ended in Jun. 2026 was €-156 Mil. It means Zalando SE's Accounts Receivable increased by €156 Mil from Mar. 2026 to Jun. 2026 .

Zalando SE's change in receivables for the fiscal year that ended in Dec. 2025 was €-114 Mil. It means Zalando SE's Accounts Receivable increased by €114 Mil from Dec. 2024 to Dec. 2025 .

Zalando SE's Accounts Receivable for the quarter that ended in Jun. 2026 was €1,112 Mil.

Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's Accounts Receivable are being managed. Zalando SE's Days Sales Outstanding for the three months ended in Jun. 2026 was 29.63.

In Ben Graham's calculation of liquidation value, Apple Inc's Accounts Receivable are only considered to be worth 75% of book value. Zalando SE's liquidation value for the three months ended in Jun. 2026 was €-2,901 Mil.

Zalando SE  (HAM:ZAL) Change In Receivables Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's Accounts Receivable are being managed.

Zalando SE's Days Sales Outstanding for the quarter that ended in Jun. 2026 is calculated as:

Days Sales Outstanding
=Accounts Receivable/Revenue*Days in Period
=1112.1/3424.4*91
=29.63

2. In Ben Graham's calculation of liquidation value, Zalando SE's accounts receivable are only considered to be worth 75% of book value:

Zalando SE's liquidation value for the quarter that ended in Jun. 2026 is calculated as:

Liquidation Value
=Cash, Cash Equivalents, Marketable Securities-Total Liabilities+(0.75 * Accounts Receivable)+(0.5 * Total Inventories)
=1464-6233.5+0.75 * 1112.1+0.5 * 2069.7
=-2,901

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Zalando SE Change In Receivables Related Terms

Zalando SE Change In Receivables Historical Data

* Premium members only.

The historical data trend for Zalando SE's Change In Receivables can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Zalando SE Change In Receivables Chart

Zalando SE Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Change In Receivables
Get a 7-Day Free Trial Premium Member Only Premium Member Only -125.50 -169.50 13.70 -26.80 -114.10

Zalando SE Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Change In Receivables Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -70.60 119.70 -155.80 181.90 -156.20
HAM:ZAL
84GF Score
Zalando SE HAM:ZAL
Change In Receivables is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Zalando SE Change In Receivables Calculation

Change In Accounts Receivable relative to the previous period. It is any increase or decrease in the cash a company is owed by its customers.

Change In Receivables for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €-10 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Change In Receivables →
What does a Change In Receivables of €-10 Mil mean?
Zalando SE (HAM:ZAL) has a Change In Receivables of €-10 Mil as of Jun. 2026. Change in Receivables is the difference between current-period receivables and past-period receivables. View historical data for Zalando SE and its competitors.
Is Zalando SE's Change In Receivables too high?
Zalando SE's current Change In Receivables is €-10 Mil. Overall, Zalando SE has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Zalando SE's Change In Receivables compare to AMZN and BABA?
Zalando SE's Change In Receivables of €-10 Mil can be compared against companies in the Retail - Cyclical industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Change In Receivables for a Retail - Cyclical company?
A good Change In Receivables depends on the Retail - Cyclical industry context. However, Change In Receivables should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Change In Receivables mean?
A high Change In Receivables can signal that a stock is expensive relative to its fundamentals. Change in Receivables is the difference between current-period receivables and past-period receivables. View historical data for Zalando SE and its competitors. Zalando SE's current Change In Receivables is €-10 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zalando SE stock overvalued right now?
Based on GuruFocus' analysis, Zalando SE (HAM:ZAL) is currently considered Modestly Undervalued. The stock's GF Value™ is €32.91, compared to a current price of €24.00 — trading 27.1% below its estimated fair value. The current Change In Receivables is €-10 Mil. Zalando SE's overall GF Score™ is 84/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Change In Receivables calculated?
Change In Receivables is calculated from a company's financial statements. For Zalando SE (HAM:ZAL), the current Change In Receivables is €-10 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Zalando SE (HAM:ZAL) Overvalued in 2026?

Based on GuruFocus' analysis, Zalando SE stock appears to be undervalued. The current stock price of €24.00 is trading 27.1% below its estimated GF Value™ of €32.91. GuruFocus considers Zalando SE to be Modestly Undervalued.

Key valuation signals for HAM:ZAL:

  • Change In Receivables: €-10 Mil
  • GF Value™: €32.91 vs. price of €24.00 (27.1% below fair value)
  • GF Score™: 84/100 with 5 warning signs

No single metric tells the full story. See the HAM:ZAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Zalando SE Business Description

Address Valeska-Gert-Strabe 5, Berlin, DEU, 10243
Zalando, founded in 2008, is Europe's biggest pure-play online fashion platform. Zalando is present in 25 European countries, and its major market is the DACH region, comprising Germany, Austria, and Switzerland. After the About You acquisition, it has 17 fulfillment centers, offers over 7,000 brands, and as of September 2025, had 62 million active users (more than 10% of the population in countries where the firm has a presence).
84GF Score

Get the complete analysis for HAM:ZAL

Change In Receivables is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€24.00
Price
€32.91
GF Value