There (ZAL) Fair Value & Analysis
Consumer Cyclical · DE · Market cap €18.7B · ISIN DE000ZAL1111
What is There really worth?
A solid business, but trading 280% above our fair value of €6.05.
As of Aug 15, 2026, the fair value of There is €6.05 per share against a price of €22.98, so the fair value sits 74% below the price. A model estimate blended from multiple valuation models, recalculated regularly.
Strengths
Risks
Fair value as of: Aug 15, 2026
From 24 valuation models · updated 22 days ago
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (€6.59). The favourable scenario is already priced in.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (€3.47 to €6.59) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 15, 2026.
How to read this chart
60‑month range €16.20 – €104.95 · fair‑value band €3.47 – €6.59 · the €22.98 price screens above the €6.05 fair value. Dashed = 300-day average. As of Aug 15, 2026.
Analysis
There (ZAL) currently trades at €22.98, while our model-based Fair Value estimate is €6.05, implying the stock looks roughly 279.8% overvalued today. The Quality Score stands at 66/100 (solid quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of €16.17 per share, and 2 of the 24 models we run sit above the €22.98 price. Bear case: the Asset-Based group reads lowest at €2.33, and 22 of the 24 models stay below the price. Evidence for this calculation is low.
Our scenario range runs from €3.47 (bear case) to €6.59 (bull case); at €22.98, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 22% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −51% fair-value upside, at −74%, ZAL screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: DCF Models (€16.17) versus Asset-Based (€2.33). Highest evidence: FCF DCF (77).
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Key figures & financial health
Figures from reported company fundamentals · as of Aug 15, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 34
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
There is no Profile data available for ZAL.HA.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
There reported revenue of €12.3B in FY2025 versus €10.4B in FY2021, a compound +4.5%/yr. Reported net income was €215M in FY2025, compounding −2.1%/yr from FY2021.
ZAL screens 280% overvalued. Compare with Amazon.com, Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Zalando (XTRA:ZAL) Sold Off On Results, Is It Trading Below Fair Value?
- Zalando's (ETR:ZAL) Soft Earnings Don't Show The Whole Picture
Peer Group
Internet Retail · 103 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Internet Retail median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Internet Retail stocks, each showing price versus our Fair Value estimate (as of Aug 15, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Amazon.com, Inc AMZN | $258.51 | $127.67 | −51% |
| Alibaba Group 89988 | HK$97.45 | HK$48.38 | −50% |
| PDD Holdings PDD | $85.69 | $225.48 | +163% |
| MercadoLibre, Inc MELI | $1,966 | $798.98 | −59% |
| DoorDash, Inc DASH | $222.00 | $38.64 | −83% |
| Sea Limited SE | $118.32 | $52.70 | −55% |
| JD.com, Inc 89618 | ¥95.45 | ¥73.98 | −22% |
| eBay Inc EBAY | $105.62 | $60.13 | −43% |
| Coupang, Inc CPNG | $16.32 | $2.79 | −83% |
| Delivery Hero SE DHER | €36.47 | €12.71 | −65% |
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