Zalando SE (ETR:ZAL)
Germany · Delayed Price · Currency is EUR 23.62
+0.67 (2.90%)
Aug 25, 2026, 4:45 PM CET
Zalando SE Cash Flow Statement
Financials in millions EUR. Fiscal year is January - December.
Millions EUR. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 94.8 | 215.1 | 251.1 | 83 | 16.8 | 234.5 |
Depreciation & Amortization | 393.1 | 326.1 | 281.9 | 268.2 | 252.6 | 178 |
Other Amortization | 78.8 | 78.8 | 68 | 65.8 | 59.8 | 57.4 |
Stock-Based Compensation | 106.7 | 91.9 | 82.4 | 83 | 72.5 | 57.3 |
Other Operating Activities | -64.2 | -38.5 | 60.6 | 38.8 | -28.4 | 10.7 |
Change in Accounts Receivable | -10.6 | -114.1 | -26.8 | 13.7 | -169.5 | -125.5 |
Change in Inventory | -35.2 | -179.4 | -108.8 | 368.6 | -260.1 | -186.3 |
Change in Accounts Payable | 345.8 | 606.5 | -18.1 | -168.9 | 489.9 | 391.7 |
Change in Other Net Operating Assets | 111.4 | 139.9 | 63.8 | 197.3 | 26.3 | -1.6 |
Operating Cash Flow | 1,021 | 1,126 | 654.1 | 949.5 | 459.9 | 616.2 |
Operating Cash Flow Growth | 145.81% | 72.19% | -31.11% | 106.46% | -25.36% | 16.84% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -108.1 | -98 | -120.6 | -190.5 | -274.5 | -240.4 |
Sale of Property, Plant & Equipment | - | - | - | 3.5 | - | - |
Sale (Purchase) of Intangibles | -145.4 | -124.5 | -86.2 | -72.7 | -77.1 | -92.5 |
Investment in Securities | -882.2 | -857.8 | -67.9 | -56.1 | -127 | -3 |
Other Investing Activities | 402.9 | - | 4.9 | -4.9 | 2.4 | - |
Investing Cash Flow | -732.8 | -1,080 | -269.8 | -320.7 | -476.2 | -335.9 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Long-Term Debt Repaid | - | -562.3 | -230 | -128.1 | -114.1 | -462.2 |
Net Debt Issued (Repaid) | -581.7 | -562.3 | -230 | -128.1 | -114.1 | -462.2 |
Issuance of Common Stock | - | 0.6 | 4 | 4.5 | 30.9 | 22.5 |
Repurchase of Common Stock | -399.5 | -98.2 | -99.5 | - | -136.2 | -200 |
Other Financing Activities | -96.6 | -96.5 | -0.1 | - | -26.5 | -0.1 |
Financing Cash Flow | -1,078 | -756.4 | -325.6 | -123.6 | -245.9 | -639.8 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | 4.6 | -0.1 | -4.2 | 3.2 | -0.9 | 3.5 |
Miscellaneous Cash Flow Adjustments | 0.2 | 0.1 | 0.1 | - | - | -0.1 |
Net Cash Flow | -785.2 | -710.4 | 54.6 | 508.4 | -263.1 | -356.1 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 912.5 | 1,028 | 533.5 | 759 | 185.4 | 375.8 |
Free Cash Flow Growth | 196.17% | 92.75% | -29.71% | 309.39% | -50.67% | 7.43% |
Free Cash Flow Margin | 6.75% | 8.33% | 5.05% | 7.48% | 1.79% | 3.63% |
Free Cash Flow Per Share | 3.53 | 3.91 | 2.04 | 2.90 | 0.71 | 1.42 |
Levered Free Cash Flow | 1,474 | 1,049 | 320.96 | 711.86 | 47.34 | 279.34 |
Unlevered Free Cash Flow | 1,519 | 1,094 | 379.34 | 765.36 | 86.53 | 316.4 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 53.1 | 51 | 70.3 | 55.8 | 35.1 | 32.7 |
Cash Income Tax Paid | 155 | 179.7 | 75.4 | 39 | 64.1 | 106.3 |
Change in Working Capital | 411.4 | 452.9 | -89.9 | 410.7 | 86.6 | 78.3 |