ZKH Group Limited (ZKH) - Net Assets
Based on the latest financial reports, ZKH Group Limited (ZKH) has net assets worth $2.94 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($6.53 Billion) and total liabilities ($3.59 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check ZKH asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $2.94 Billion |
| % of Total Assets | 45.04% |
| Annual Growth Rate | -2.0% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 85.29 |
ZKH Group Limited - Net Assets Trend (2020–2025)
This chart illustrates how ZKH Group Limited's net assets have evolved over time, based on quarterly financial data. Also explore ZKH Group Limited balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for ZKH Group Limited (2020–2025)
The table below shows the annual net assets of ZKH Group Limited from 2020 to 2025. For live valuation and market cap data, see ZKH market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | $2.94 Billion | -8.35% |
| 2024-09-30 | $3.21 Billion | 0.00% |
| 2023-09-30 | $3.21 Billion | +178.97% |
| 2022-09-30 | $-4.07 Billion | -47.02% |
| 2021-09-30 | $-2.77 Billion | -184.95% |
| 2020-09-30 | $3.26 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to ZKH Group Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 385237090100.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $4.00K | 0.00% |
| Other Comprehensive Income | $-30.74 Million | -1.04% |
| Other Components | $8.29 Billion | 281.82% |
| Total Equity | $2.94 Billion | 100.00% |
ZKH Group Limited Competitors by Market Cap
The table below lists competitors of ZKH Group Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Foresee Pharmaceuticals Co Ltd
TWO:6576
|
$396.61 Million |
|
CPH Chemie und Papier Holding
SW:CPHN
|
$396.88 Million |
|
Tharisa plc
JSE:THA
|
$396.90 Million |
|
Yubico AB
ST:YUBICO
|
$396.96 Million |
|
Beijing Telesound Electronics Co Ltd
SHE:003004
|
$396.51 Million |
|
Nanjing Chixia Development Co Ltd
SHG:600533
|
$396.41 Million |
|
Dhipaya Group Holdings PCL
BK:TIPH-R
|
$396.40 Million |
|
Socar Inc.
KO:403550
|
$396.39 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in ZKH Group Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,211,419,000 to 2,943,206,017, a change of -268,212,983 (-8.4%).
- Net loss of 135,934,752 reduced equity.
- Share repurchases of 40,757,000 reduced equity.
- Other comprehensive income decreased equity by 11,600,560.
- Other factors decreased equity by 79,920,671.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-135.93 Million | -4.62% |
| Share Repurchases | $40.76 Million | -1.38% |
| Other Comprehensive Income | $-11.60 Million | -0.39% |
| Other Changes | $-79.92 Million | -2.72% |
| Total Change | $- | -8.35% |
Book Value vs Market Value Analysis
This analysis compares ZKH Group Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.17x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-09-30 | $25.06 | $3.07 | x |
| 2021-09-30 | $-19.97 | $3.07 | x |
| 2022-09-30 | $-26.88 | $3.07 | x |
| 2023-09-30 | $18.38 | $3.07 | x |
| 2024-09-30 | $19.80 | $3.07 | x |
| 2025-09-30 | $18.12 | $3.07 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently ZKH Group Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -4.62%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -1.55%
- • Asset Turnover: 1.34x
- • Equity Multiplier: 2.22x
- Recent ROE (-4.62%) is above the historical average (-9.42%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | -12.39% | -8.57% | 0.84x | 1.72x | $-726.09 Million |
| 2021 | 0.00% | -14.66% | 1.29x | 0.00x | $-845.50 Million |
| 2022 | 0.00% | -8.85% | 1.22x | 0.00x | $-328.61 Million |
| 2023 | -30.03% | -11.06% | 1.18x | 2.30x | $-1.29 Billion |
| 2024 | -9.48% | -3.49% | 1.18x | 2.30x | $-625.46 Million |
| 2025 | -4.62% | -1.55% | 1.34x | 2.22x | $-430.26 Million |
Industry Comparison
This section compares ZKH Group Limited's net assets metrics with peer companies in the Internet Retail industry.
Industry Context
- Industry: Internet Retail
- Average net assets among peers: $7,541,565,044
- Average return on equity (ROE) among peers: 6.75%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| ZKH Group Limited (ZKH) | $2.94 Billion | -12.39% | 1.22x | $396.57 Million |
| Winamp Group SA (ALPET) | $3.19 Million | -19.36% | 0.11x | $13.13 Million |
| Amazon.com Inc (AMZN) | $62.06 Billion | 18.67% | 2.63x | $2.51 Trillion |
| Beyond, Inc. (BYON) | $54.91 Million | -21.03% | 0.78x | $541.91 Million |
| Baozun Inc (BZUN) | $5.78 Billion | -3.20% | 0.77x | $138.03 Million |
| Maplebear Inc. (CART) | $50.26 Million | 5.87% | 8.45x | $10.15 Billion |
| Chewy Inc (CHWY) | $-403.97 Million | 0.00% | 0.00x | $6.09 Billion |
| Coupang LLC (CPNG) | $4.10 Billion | 3.75% | 2.74x | $33.89 Billion |
| Dada Nexus Ltd (DADA) | $-7.19 Billion | 0.00% | 0.00x | $506.16 Million |
| DoorDash, Inc. Class A Common Stock (DASH) | $1.18 Billion | -56.43% | 0.47x | $69.45 Billion |
| eBay Inc (EBAY) | $9.78 Billion | 139.17% | 1.72x | $39.55 Billion |
About ZKH Group Limited
ZKH Group Limited develops and operates a maintenance, repair, and operating (MRO) products trading and service platform that offers spare parts, chemicals, manufacturing parts, general consumables, and office supplies in the People's Republic of China. It offers equipment parts, including pump valve fittings, low voltage electrical, electric automation, wire and cable, fastening seal, pneumatics… Read more