ZKH Group Ltd
ZKH NYSE· Retail-Building Materials, Hardware, Garden Supply
KIRA · Stoqly’s AI analyst, in plain words
- ZKH Group Ltd had $1.3B of revenue in fiscal 2025, up 2.7% on the year before.
- Its operating margin was −2.4%, up 1.5 pts: of every 100 in sales, about −2 is left after running the business.
- ZKH Group Ltd lost $19.4M in fiscal 2025.
- Free cash flow was −$6.2M in fiscal 2025, −0.5% of revenue.
- ZKH Group Ltd returned $5.7M to shareholders in fiscal 2025. The diluted share count fell 0.9%.
- ZKH Group Ltd has $224M more cash than debt.
Market cap
—
P/E
—
Revenue
$1.3B
Net income
−$19.4M
Free cash flow
−$6.2M
Operating margin
−2.4%
ZKH Group Ltd in 30 seconds · fiscal 2025
Are sales growing?
+2.7%
Only a little. Sales grew 2.7% last year.
Does it make a profit?
−1.6%
No. It lost money last year.
Does profit turn into cash?
−0.5%
No. It spent more cash than it brought in.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
What ZKH Group Ltd does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 24, 2026
- Legal name
- ZKH Group Ltd
- CIK
- 0001862044
ZKH Group Ltd · ZKH
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $1.2B | $1.2B | $1.2B | $1.2B | $1.3B |
| Revenue growth | — | 4.1% | −0.3% | −1.1% | 2.7% |
| Gross margin | 13.6% | 15.8% | 16.7% | 17.2% | 16.4% |
| Operating margin | −14.5% | −8.2% | −4.6% | −3.9% | −2.4% |
| Net income | −$174M | −$109M | −$43.0M | −$37.2M | −$19.4M |
| Net margin | −14.7% | −8.8% | −3.5% | −3.1% | −1.6% |
| Diluted EPS | −$6.51 | −$4.89 | −$3.11 | −$0.24 | −$0.10 |
| Cash | |||||
| Cash from operations | −$214M | −$74.9M | −$80.2M | $31.8M | $1.2M |
| Capital expenditure | $22.5M | $5.5M | $7.1M | $11.0M | $7.4M |
| Free cash flow | −$237M | −$80.4M | −$87.3M | $20.8M | −$6.2M |
| FCF margin | −20.0% | −6.5% | −7.1% | 1.7% | −0.5% |
| Share buybacks | — | — | — | $5.7M | $5.7M |
| Share count change | — | 9.2% | 15.4% | 275.3% | −0.9% |
| Debt and strength | |||||
| Cash and short-term investments | $177M | $283M | $277M | $270M | $265M |
| Debt incl. finance leases | — | $36.2M | $82.3M | $48.1M | $40.7M |
| Shareholders' equity | −$435M | −$590M | $452M | $424M | $420M |
| Current ratio | — | 1.8x | 1.7x | 1.9x | 1.8x |
| Interest coverage | −104.8x | −7.3x | −20.6x | −17.8x | −18.8x |
| Returns and quality | |||||
| Return on capital | — | — | −17.3% | −18.3% | −12.0% |
| Return on equity | — | — | — | −8.5% | −4.6% |
| Return on tangible equity | — | — | −30.6% | −8.9% | −4.7% |
| Piotroski F-score | — | — | 2 | 7 | 5 |
| Altman Z'' | — | −1.1 | 0.9 | 0.9 | 0.7 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.8M
1 insider
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
ZKH Group Ltd · ZKH
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Source: SEC EDGAR XBRL filings (CIK 0001862044). Data updated October 24, 2026. Filed in CNY under US GAAP and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only — not investment advice. Check the original filings before relying on any figure.