Latest Ratios: P/E Ratio 6.0x · EV/EBITDA 3.6x · ROE 11.9%. (2013–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.9B | $2.6B | $2.6B | $1.2B | $2.1B | $7.0B | — | — | — | — | — |
| Enterprise Value | $7.6B | $7.2B | $7.3B | $5.3B | $5.4B | $8.8B | — | — | — | — | — |
| P/E Ratio → | 6.01 | 5.33 | 1.20 | — | 0.45 | 1.51 | — | — | — | — | — |
| P/S Ratio | 0.42 | 0.37 | 0.31 | 0.23 | 0.16 | 0.65 | — | — | — | — | — |
| P/B Ratio | 0.72 | 0.64 | 0.64 | 0.48 | 0.35 | 1.52 | — | — | — | — | — |
| P/FCF | 1.79 | 1.59 | 0.73 | 1.31 | 0.36 | 1.41 | — | — | — | — | — |
| P/OCF | 1.58 | 1.40 | 0.69 | 1.16 | 0.34 | 1.17 | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.05 | 0.86 | 1.02 | 0.43 | 0.82 | — | — | — | — | — |
| EV / EBITDA | 3.55 | 3.40 | 2.01 | 5.21 | 0.72 | 1.34 | — | — | — | — | — |
| EV / EBIT | 8.97 | 8.58 | 2.72 | — | 0.86 | 1.51 | — | — | — | — | — |
| EV / FCF | — | 4.51 | 2.06 | 5.83 | 0.94 | 1.77 | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.8% | 16.8% | 32.9% | -3.8% | 51.0% | 56.3% | 21.1% | 7.4% | 4.2% | 9.1% | 1.7% |
| Operating Margin | 12.2% | 12.2% | 29.5% | -8.9% | 48.4% | 54.0% | 17.5% | 3.3% | 0.1% | 4.4% | -3.4% |
| Net Profit Margin | 6.9% | 6.9% | 25.5% | -52.2% | 36.8% | 43.3% | 13.0% | -0.5% | -3.9% | 0.2% | -6.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.9% | 11.9% | 66.1% | -64.5% | 88.0% | 190.4% | 4668.8% | — | — | — | — |
| ROA | 4.3% | 4.3% | 21.8% | -27.0% | 43.0% | 73.3% | 21.8% | -1.0% | -6.9% | 0.4% | -9.3% |
| ROIC | 7.3% | 7.3% | 24.4% | -4.4% | 58.5% | 109.8% | 39.7% | 8.0% | 0.2% | 8.6% | -5.6% |
| ROCE | 9.6% | 9.6% | 34.0% | -6.2% | 75.8% | 132.4% | 52.3% | 11.7% | 0.3% | 11.6% | -7.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.43 | 1.43 | 1.49 | 2.04 | 0.74 | 0.72 | 6.68 | — | — | — | — |
| Debt / EBITDA | 2.69 | 2.69 | 1.66 | 4.94 | 0.58 | 0.51 | 1.81 | 4.32 | 11.96 | 6.01 | 96.40 |
| Net Debt / Equity | — | 1.16 | 1.16 | 1.66 | 0.56 | 0.39 | 4.60 | — | — | — | — |
| Net Debt / EBITDA | 2.20 | 2.20 | 1.30 | 4.04 | 0.44 | 0.27 | 1.25 | 3.81 | 10.34 | 5.36 | 85.28 |
| Debt / FCF | — | 2.92 | 1.33 | 4.52 | 0.58 | 0.36 | 1.51 | 3.83 | 5.85 | 6.41 | — |
| Interest Coverage | 1.78 | 1.78 | 5.73 | -6.37 | 27.81 | 34.48 | 4.57 | 0.96 | -0.10 | 1.18 | -0.53 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.23 | 1.23 | 1.25 | 1.02 | 1.60 | 1.84 | 1.04 | 0.68 | 0.80 | 0.82 | 0.84 |
| Quick Ratio | 1.15 | 1.15 | 1.17 | 0.95 | 1.53 | 1.80 | 1.00 | 0.62 | 0.72 | 0.73 | 0.76 |
| Cash Ratio | 0.84 | 0.84 | 0.81 | 0.71 | 1.22 | 1.34 | 0.55 | 0.26 | 0.27 | 0.37 | 0.35 |
| Asset Turnover | — | 0.63 | 0.74 | 0.62 | 1.08 | 1.09 | 1.41 | 1.71 | 1.78 | 1.65 | 1.49 |
| Inventory Turnover | 34.25 | 34.25 | 26.65 | 29.88 | 32.31 | 39.38 | 60.29 | 50.64 | 44.13 | 42.42 | 60.16 |
| Days Sales Outstanding | — | 34.55 | 39.35 | 39.77 | 23.27 | 41.58 | 44.80 | 32.25 | 39.65 | 28.27 | 28.57 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 17.9% | 20.2% | 22.4% | 64.8% | 100.0% | 7.7% | — | — | — | — | — |
| Payout Ratio | 107.6% | 107.6% | 27.0% | — | 71.5% | 11.6% | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 16.6% | 18.7% | 83.0% | — | 223.1% | 66.3% | — | — | — | — | — |
| FCF Yield | 55.8% | 62.8% | 136.8% | 76.2% | 278.4% | 70.9% | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — |
| Total Shareholder Yield | 17.9% | 20.2% | 22.4% | 64.8% | 100.0% | 7.7% | — | — | — | — | — |
| Shares Outstanding | — | $121M | $120M | $120M | $120M | $119M | $120M | $118M | $104M | $100M | $100M |
Spot rate volatility exposure
As reported in recent financial statements, ZIM trades at a P/E of 6.43 and an EV/EBITDA of 3.65, suggesting that investors are heavily discounting future earnings potential due to the inherent volatility of the container shipping cycle and the company's high sensitivity to spot freight rates.
The current valuation multiples appear to reflect a market expectation of continued earnings contraction rather than a recovery. While the low P/S ratio of 0.45 might suggest value, it warrants caution as it likely accounts for the significant fixed-cost burden embedded in the company's long-term charter obligations.
Based on ZIM's reported figures, ROIC has plummeted from a peak of 11.7% in 2024Q3 to -0.1% in 2026Q1, illustrating a rapid erosion of capital efficiency as the company struggles to generate returns above its cost of capital in a normalizing freight rate environment.
The sharp decline in ROIC highlights the difficulty of maintaining profitability when freight rates normalize while charter hire costs remain relatively sticky. Investors should monitor whether management can optimize the fleet composition to improve returns, or if the current asset-light model will continue to suffer from margin compression.
According to recent SEC filings, ZIM's cash conversion cycle has fluctuated significantly, reaching 12 days in 2026Q1, which suggests that the company's ability to manage its working capital is becoming increasingly strained as it navigates a more challenging and less predictable global trade environment.
The volatility in DSO and DPO metrics indicates that the company is facing pressure in both collecting receivables and managing supplier payments. This lack of consistency in the cash conversion cycle may indicate that ZIM is losing leverage with its counterparties as the industry cycle turns downward.
As evidenced by the company's financial disclosures, the debt-to-EBITDA ratio has surged to 18.00 in 2026Q1, reflecting the heavy impact of capitalized lease obligations under IFRS 16 and suggesting that the company's financial flexibility is significantly more constrained than traditional debt metrics might imply.
The interest coverage ratio of 0.12 in the most recent quarter is particularly concerning, as it suggests that operating income is insufficient to cover interest expenses. This warrants further investigation into the company's ability to service its obligations without relying on cash reserves or additional financing.
While ZIM's 16.7% dividend yield may appear attractive to income-focused investors, it is a highly misleading metric that fails to account for the company's volatile earnings and the potential for future dividend suspensions during periods of severe cash flow contraction and industry-wide cyclical downturns.
Investors should prioritize free cash flow generation and the sustainability of the balance sheet over the current dividend yield, which is likely a backward-looking artifact of previous windfall profits. A more appropriate metric for assessing ZIM's health would be the ratio of operating cash flow to fixed lease obligations, which better captures the true operational risk.
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Quick answers to the most common questions about buying ZIM stock.
ZIM Integrated Shipping Services Ltd.'s current P/E ratio is 6.0x. The historical average is 2.1x. This places it at the 100th percentile of its historical range.
ZIM Integrated Shipping Services Ltd.'s current EV/EBITDA is 3.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 2.5x.
ZIM Integrated Shipping Services Ltd.'s return on equity (ROE) is 11.9%. The historical average is 5.2%.
Based on historical data, ZIM Integrated Shipping Services Ltd. is trading at a P/E of 6.0x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
ZIM Integrated Shipping Services Ltd.'s current dividend yield is 17.89% with a payout ratio of 107.6%.
ZIM Integrated Shipping Services Ltd. has 16.8% gross margin and 12.2% operating margin. Operating margin between 10-20% is typical for established companies.
ZIM Integrated Shipping Services Ltd.'s Debt/EBITDA ratio is 2.7x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.