Zalando SE (WAR:ZAL) EBIT: zł1,332 Mil (TTM As of Mar. 2026)


WAR:ZAL Zalando SE WAR:ZAL
68 GF Score
Price zł103.40
GF Value zł132.23
Valuation Modestly Undervalued
! 7 Warning Signs
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What is Zalando SE EBIT?

Zalando SE WAR:ZAL 68 EBIT is zł1,332 Mil as of Mar. 2026. GuruFocus rates WAR:ZAL with a GF Score™ of 68/100 and a GF Value™ of zł132.23 (Modestly Undervalued). The stock has 7 warning signs investors should review.

Zalando SE's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was zł-359 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was zł1,332 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Zalando SE's annualized ROC % for the quarter that ended in Mar. 2026 was -5.86%. Zalando SE's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -16.94%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Zalando SE's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 4.66%.


Zalando SE  (WAR:ZAL) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Zalando SE's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=-1354.3 * ( 1 - 14.29% )/( (19584.347 + 20050.68)/ 2 )
=-1160.77053/19817.5135
=-5.86 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=39834.344 - 17977.67 - ( 8427.53 - max(0, 21339.043 - 23611.37+8427.53))
=19584.347

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=37007.459 - 15204.006 - ( 5604.539 - max(0, 19478.884 - 21231.657+5604.539))
=20050.68

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Zalando SE's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-1435.864/( ( (8642.242 + max(-6771.369, 0)) + (8306.765 + max(-3106.222, 0)) )/ 2 )
=-1435.864/( ( 8642.242 + 8306.765 )/ 2 )
=-1435.864/8474.5035
=-16.94 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3533.487 + 9057.895 + 1230.611) - (17977.67 + 0 + 2615.692)
=-6771.369

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4060.349 + 9946.113 + 1620.656) - (15204.006 + 0 + 3529.334)
=-3106.222

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Zalando SE's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=1331.5/28554.304
=4.66 %

* 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 EBIT Related Terms


Zalando SE EBIT Historical Data

* Premium members only.

The historical data trend for Zalando SE's EBIT 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 EBIT Chart

Zalando SE Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,717.31 395.10 955.72 1,775.36 1,855.81

Zalando SE Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT 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 143.41 694.66 239.37 756.44 -358.97

WAR:ZAL vs AMZN, BABA, PDD: EBIT Comparison

For the Internet Retail subindustry, Zalando SE's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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 EV-to-EBIT vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Zalando SE's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Zalando SE's EV-to-EBIT falls into.


WAR:ZAL
68GF Score
Zalando SE WAR:ZAL
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Zalando SE EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was zł1,332 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 EBIT →
What does a EBIT of zł1,332 Mil mean?
Zalando SE (WAR:ZAL) has a EBIT of zł1,332 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Zalando SE.
Is Zalando SE's EBIT too high?
Zalando SE's current EBIT is zł1,332 Mil. Overall, Zalando SE has a GF Score™ of 68/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Zalando SE's EBIT compare to AMZN and BABA?
Zalando SE's EBIT of zł1,332 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 EBIT for a Retail - Cyclical company?
A good EBIT depends on the Retail - Cyclical industry context. However, EBIT 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 EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Zalando SE. Zalando SE's current EBIT is zł1,332 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 (WAR:ZAL) is currently considered Modestly Undervalued. The stock's GF Value™ is zł132.23, compared to a current price of zł103.40 — trading 21.8% below its estimated fair value. The current EBIT is zł1,332 Mil. Zalando SE's overall GF Score™ is 68/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Zalando SE (WAR:ZAL), the current EBIT is zł1,332 Mil as of Mar. 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 (WAR:ZAL) Overvalued in 2026?

Based on GuruFocus' analysis, Zalando SE stock appears to be undervalued. The current stock price of zł103.40 is trading 21.8% below its estimated GF Value™ of zł132.23. GuruFocus considers Zalando SE to be Modestly Undervalued.

Key valuation signals for WAR:ZAL:

  • EBIT: zł1,332 Mil
  • GF Value™: zł132.23 vs. price of zł103.40 (21.8% below fair value)
  • GF Score™: 68/100 with 7 warning signs

No single metric tells the full story. See the WAR: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).
68GF Score

Get the complete analysis for WAR:ZAL

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

zł103.40
Price
zł132.23
GF Value