Zalando SE (STU:ZAL1) Cyclically Adjusted PS Ratio: (As of Aug. 07, 2026)

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Director of Data and Quant Analytics at GuruFocus
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STU:ZAL1 Zalando SE STU:ZAL1
88 GF Score
Price €12.40
GF Value €16.29
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Zalando SE Cyclically Adjusted PS Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PS Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Zalando SE  (STU:ZAL1) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Zalando SE Cyclically Adjusted PS Ratio Related Terms


Zalando SE Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Zalando SE's Cyclically Adjusted PS Ratio 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 Cyclically Adjusted PS Ratio Chart

Zalando SE Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 1.33 0.77 1.04 0.72

Zalando SE Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio 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 0.85 0.77 0.72 0.57 0.00

STU:ZAL1 vs AMZN, BABA, PDD: Cyclically Adjusted PS Ratio Comparison

For the Internet Retail subindustry, Zalando SE's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Zalando SE Cyclically Adjusted PS Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Zalando SE's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Zalando SE's Cyclically Adjusted PS Ratio falls into.


STU:ZAL1
88GF Score
Zalando SE STU:ZAL1
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Zalando SE Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Zalando SE's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Zalando SE's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=6.794/131.3638*131.3638
=6.794

Current CPI (Jun. 2026) = 131.3638.

Zalando SE Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 1.670 101.017 2.172
201612 2.029 101.217 2.633
201703 1.922 101.417 2.490
201706 2.127 102.117 2.736
201709 2.047 102.717 2.618
201712 2.766 102.617 3.541
201803 2.392 102.917 3.053
201806 2.574 104.017 3.251
201809 2.446 104.718 3.068
201812 2.659 104.217 3.352
201903 2.741 104.217 3.455
201906 3.147 105.718 3.910
201909 2.796 106.018 3.464
201912 3.201 105.818 3.974
202003 3.087 105.718 3.836
202006 3.922 106.618 4.832
202009 3.478 105.818 4.318
202012 5.010 105.518 6.237
202103 4.540 107.518 5.547
202106 4.937 108.486 5.978
202109 4.078 109.435 4.895
202112 5.940 110.384 7.069
202203 4.316 113.968 4.975
202206 5.074 115.760 5.758
202209 4.645 118.818 5.135
202212 6.011 119.345 6.616
202303 4.394 122.402 4.716
202306 4.886 123.140 5.212
202309 4.161 124.195 4.401
202312 5.135 123.773 5.450
202403 3.778 125.038 3.969
202406 5.052 125.882 5.272
202409 4.583 126.198 4.771
202412 6.220 127.041 6.432
202503 4.888 127.779 5.025
202506 5.388 128.412 5.512
202509 6.123 129.255 6.223
202512 7.632 129.361 7.750
202603 5.814 131.258 5.819
202606 6.794 131.364 6.794

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Zalando SE (STU:ZAL1) Overvalued in 2026?

Based on GuruFocus' analysis, Zalando SE stock appears to be undervalued. The current stock price of €12.40 is trading 23.9% below its estimated GF Value™ of €16.29. GuruFocus considers Zalando SE to be Modestly Undervalued.

Key valuation signals for STU:ZAL1:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €16.29 vs. price of €12.40 (23.9% below fair value)
  • GF Score™: 88/100 with 5 warning signs

No single metric tells the full story. See the STU:ZAL1 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).
88GF Score

Get the complete analysis for STU:ZAL1

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€12.40
Price
€16.29
GF Value