Baozun vs ZKH Group
Baozun and ZKH Group are similar in size: $1.38bn and $1.25bn of revenue in their latest fiscal years. Baozun grew faster (5.7% against 2.7%). ZKH Group kept more of each dollar of sales as profit: a net margin of -1.6% against -2.4%. ZKH Group carries less debt relative to equity (9.7% against 33.2%).
| Latest fiscal year | BaozunBZUN, 2025 | ZKH GroupZKH, 2025 |
|---|---|---|
| Revenue | $1.38bn | $1.25bn |
| Revenue growth | 5.7% | 2.7% |
| Net income | −$33.7m | −$19.4m |
| Operating margin | 0.6% | -2.4% |
| Net margin | -2.4% | -1.6% |
| Return on equity | -6.4% | -4.6% |
| Free cash flow | $43.7m | −$6.2m |
| Cash | $130m | $147m |
| Total debt | $173m | $40.7m |
| Debt to equity | 33.2% | 9.7% |
| Dividend per share | — | — |
| Dividend yield | 1.7% | — |
| Share buybacks | $1.4m | $5.7m |
| Employees | — | — |
| Market value | $187m | $232m |
| Price vs our value range | — | — |
| Moat score | — | — |
| Insider trades, 12 months | 52 buys, 0 sales | 0 buys, 2 sales |