ZKH Group Ltd ADR Dossier
Financial Snapshot
Revenue, profitability, returns, debt, and capital allocation
Revenue $1.3B+7.1% YoYTTM through 31 Dec 2025
Net Income -$20MTTM through 31 Dec 2025
Free Cash Flow -$6.3MTTM through 31 Dec 2025
Margins
| Current | |
|---|---|
| Gross Margin | 16.4% |
| EBITDA Margin | -1.8% |
| Operating Margin | -2.4% |
| Net Margin | -1.6% |
Returns
-2.8%ROE
-1.3%ROA
Balance Sheet Health
Debt / Equity0.02x
Current Ratio1.84x
Net Debt-$1.9Bnet cash position
Cash & Equivalents$1B
Quality Metrics
Altman Z-Score-2.69
Piotroski F-Score5 / 9
FCF Margin-0.5%
Rule of 4010.2
Earnings-Beat Rate0.0%
Multi-Year Trend
RevenueFY2025: $9B
Diluted EPS-$0.02TTMFY2025: $-0.02
Dividend
No dividend
Capital Allocation
R&D Spend$165.5M
Capex Intensity4.1%
Financials converted at 6.9961 from CNY.
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