Zkh (ZKH) EBITDA Margin (2022 - 2026)
Zkh (ZKH) reported EBITDA Margin of 1.9% for Q1 2026, up 169.0% on a YoY basis from 0.71% in Q1 2025, and down 214.3% quarter-over-quarter from 0.61% in Q4 2025.
Zkh (ZKH) EBITDA Margin (2022 - 2026) Analysis & Trends
Zkh has reported EBITDA Margin for 5 years, with the latest figure at 1.9% in Q1 2026.
- For the quarter ending Q1 2026, EBITDA Margin rose 169.0% year-over-year to 1.9%; the trailing twelve-month figure through Mar 2026 stood at 1.66% (up 27.0% YoY), and the FY2025 full-year result was 2.02%, up 70.0% from the prior year.
- EBITDA Margin for Q1 2026 stood at 1.9%, down from 0.61% in the prior quarter.
- The five-year high for EBITDA Margin was 3.95% in Q4 2023, with the low at 10.17% in Q2 2023.
- Historically, EBITDA Margin has averaged 2.77% across 5 years, with a median of 3.02% in 2024.
- Annual changes were most pronounced in 2023 — EBITDA Margin surged 867 bps — and 2024, when it sank 300 bps.
- Zkh's EBITDA Margin stood at 4.72% in 2022, then soared by 184 bps to 3.95% in 2023, then plunged by 76 bps to 0.95% in 2024, then sank by 164 bps to 0.61% in 2025, then tumbled by 214 bps to 1.9% in 2026.
- The last three EBITDA Margin figures came in at 1.9% (Q1 2026), 0.61% (Q4 2025), and 1.65% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,551.03 Bn | 2,407.94 Bn | 171.21 Bn | 13.14% |
| 2 | Mercadolibre | 82.72 Bn | 77.07 Bn | 3.86 Bn | 6.91% |
| 3 | DoorDash | 72.09 Bn | 67.22 Bn | 2.04 Bn | 4.81% |
| 4 | PDD Holdings | 62.92 Bn | 38.25 Bn | 12.81 Bn | 22.37% |
| 5 | Ebay | 48.30 Bn | 44.44 Bn | 2.29 Bn | 19.78% |
| 6 | Coupang | 34.44 Bn | 34.35 Bn | 2.30 Bn | -2.85% |
| 7 | Zkh | 14.36 Bn | 14.36 Bn | 285.30 Mn | -1.90% |
| 8 | Wayfair | 10.72 Bn | 9.65 Bn | 880.00 Mn | -0.38% |
| 9 | Maplebear | 10.27 Bn | 9.58 Bn | 738.00 Mn | 17.86% |
| 10 | Chewy | 7.37 Bn | 6.85 Bn | 1.01 Bn | 2.82% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -1.90% |
| Dec 31, 2025 | -0.61% |
| Sep 30, 2025 | -1.65% |
| Jun 30, 2025 | -2.68% |
| Mar 31, 2025 | -3.60% |
| Dec 31, 2024 | 0.95% |
| Sep 30, 2024 | -2.09% |
| Jun 30, 2024 | -3.35% |
| Mar 31, 2024 | -5.07% |
| Dec 31, 2023 | 3.95% |
| Sep 30, 2023 | -3.84% |
| Jun 30, 2023 | -10.17% |
| Mar 31, 2023 | -3.96% |
| Dec 31, 2022 | -4.72% |