Zkh (ZKH) Net Margin (2022 - 2026)
Zkh's (ZKH) quarterly Net Margin came in at 0.48% in Q1 2026, up 297.0% YoY from 0.12% in Q1 2025, and down 355.59% on a QoQ basis from 0.19% in Q4 2025.
Zkh (ZKH) Net Margin (2022 - 2026) Analysis & Trends
Zkh (ZKH) has 5 years of Net Margin data on file, last reported at 0.48% in Q1 2026.
- Quarterly Net Margin rose 297.0% year-over-year to 0.48% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 0.9% (up 187.0% YoY) and the FY2025 annual result came in at 1.55%, up 150.0% from the prior year.
- Net Margin declined to 0.48% in Q1 2026, from 0.19% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 0.19% in Q4 2025 to a low of 26.48% in Q2 2023.
- A 5-year average of 5.2% and a median of 3.2% in 2025 frame the typical range for Net Margin.
- Annual changes were most pronounced in 2024 — Net Margin soared 2353 bps — and 2025, when it surged 48 bps.
- Tracing ZKH's Net Margin over 5 years: stood at 7.08% in 2022, then jumped by 66 bps to 2.44% in 2023, then surged by 50 bps to 1.23% in 2024, then soared by 115 bps to 0.19% in 2025, then plunged by 356 bps to 0.48% in 2026.
- The last three Net Margin figures came in at 0.48% (Q1 2026), 0.19% (Q4 2025), and 1.04% (Q3 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,928.58 Bn | 2,805.59 Bn | 198.88 Bn | 24.31% |
| 2 | PDD Holdings | 506.82 Bn | 447.28 Bn | 9.83 Bn | 19.81% |
| 3 | Mercadolibre | 98.21 Bn | 83.01 Bn | 4.16 Bn | 4.58% |
| 4 | DoorDash | 93.40 Bn | 88.05 Bn | 2.35 Bn | 4.47% |
| 5 | JD.com | 87.13 Bn | 57.95 Bn | 7.66 Bn | 1.62% |
| 6 | Sea | 78.16 Bn | 69.64 Bn | 3.15 Bn | 12.24% |
| 7 | Ebay | 47.37 Bn | 44.06 Bn | 2.30 Bn | -0.06% |
| 8 | Coupang | 29.76 Bn | 23.65 Bn | 2.49 Bn | -6.44% |
| 9 | Zkh | 16.19 Bn | 16.19 Bn | 51.11 Mn | 0.00% |
| 10 | Wayfair | 13.70 Bn | 12.56 Bn | 1.05 Bn | -0.03% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -0.48% |
| Dec 31, 2025 | 0.19% |
| Sep 30, 2025 | -1.04% |
| Jun 30, 2025 | -2.47% |
| Mar 31, 2025 | -3.45% |
| Dec 31, 2024 | -1.23% |
| Sep 30, 2024 | -3.58% |
| Jun 30, 2024 | -2.95% |
| Mar 31, 2024 | -4.89% |
| Dec 31, 2023 | -2.44% |
| Sep 30, 2023 | -8.90% |
| Jun 30, 2023 | -26.48% |
| Mar 31, 2023 | -7.96% |
| Dec 31, 2022 | -7.08% |