ZIM
ZIM Integrated Shipping Services Ltd.
ZIM's fundamentals are weak and it looks expensive: trading at 25x earnings, about 18 times its usual 1.4x. Its downside scenario is about six times its upside.
ZIM Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Stable | |
| Healthy | |
| Stable |
ZIM's cash flow is currently healthy, and its profitability and balance sheet are stable, but its revenue is under pressure.
ZIM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 0.6x | $0.66 | -98% |
| Fair | 1.4x | $1.63 | -94% |
| Expensive | 4.3x | $5.00 | -83% |
| Forward | 8.2x | $29.24 | — |
| Current | 25x | $29.24 | — |
Historical ranges are pointers, not guarantees.
ZIM's PE is in its expensive range at 25x. On analysts' estimates for next year's earnings, today's price would be 8.2x.
ZIM Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Decline | |
| Stable | |
| Weakening | |
| Limited | |
| High |
Analysts expect ZIM's earnings and profitability to decline, with its revenue holding steady.
ZIM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.58 | +209% |
| Q2 2026 | $1.16 | -93% |
| Q1 2026 | $0.82 | -96% |
| Q4 2025 | $3.98 | -78% |
| Q3 2025 | $8.32 | -30% |
| Q2 2025 | $16.63 | +$32.93 |
| Q1 2025 | $19.52 | +$40.69 |
| Q4 2024 | $17.82 | +$40.22 |
| Q3 2024 | $11.93 | +$29.66 |
ZIM's earnings per share have fallen from their peak: $1.16 over the past year, against $51.59 in mid-2022.
ZIM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1.8B | +8.9% |
| Q1 2026 | $1.4B | -30% |
| Q4 2025 | $1.5B | -32% |
| Q3 2025 | $1.8B | -36% |
| Q2 2025 | $1.6B | -15% |
| Q1 2025 | $2B | +28% |
| Q4 2024 | $2.2B | +80% |
| Q3 2024 | $2.8B | +117% |
ZIM's revenue is recovering but still below its 2022 peak: $1.8B last quarter, up 8.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 8.1% | -0.3 points |
| Q1 2026 | -1% | -24 points |
| Q4 2025 | 0.2% | -30 points |
| Q3 2025 | 14% | -30 points |
| Q2 2025 | 8.3% | -15 points |
| Q1 2025 | 23% | +12 points |
| Q4 2024 | 30% | +35 points |
| Q3 2024 | 44% | +62 points |
ZIM's operating margin was 8.1% last quarter, about level with the same quarter a year ago.
ZIM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $383M | -8.1% |
| Q1 2026 | $231.4M | -70% |
| Q4 2025 | $246.3M | -77% |
| Q3 2025 | $561.1M | -61% |
| Q2 2025 | $416.9M | -41% |
| Q1 2025 | $776.7M | +157% |
| Q4 2024 | $1.1B | +787% |
| Q3 2024 | $1.4B | +347% |
ZIM's free cash flow has been positive every quarter for seven years: $1.4B over the past year, down 62% from the year before.
ZIM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +181K shares |
| 1 year | +0.1% | +150K shares |
| 3 years | +0.4% | +463K shares |
| 5 years | +0.4% | +524K shares |
| Available history | +21% | +20.7M shares |
ZIM has 121M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
ZIM hasn't bought back shares in the past year.
ZIM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 2.2x | Moderate |
| Q1 2026 | 2.3x | Moderate |
| Q4 2025 | 1.9x | Healthy |
| Q3 2025 | 1.5x | Healthy |
| Q2 2025 | 1.2x | Healthy |
| Q1 2025 | 1.0x | Healthy |
| Q4 2024 | 1.2x | Healthy |
| Q3 2024 | 1.4x | Healthy |
ZIM's net debt is about 2.2 years of its operating earnings (EBITDA), up from 1.2 years a year ago.
ZIM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.7 | Neutral |
| Stochastic | 63.0 | Neutral |
ZIM's weekly RSI is 59 (neutral) and its Stochastic is 63 (neutral).
ZIM PE vs Industrials Sector
| Metric | ZIM | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 24x | 4.9% above |
| PE % | 90 | 57 | 33 pts above |
ZIM is trading at 25x earnings, in line with the Industrials sector's median of 24x.
ZIM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.1 | 0.4% above |
| 20 week MA | $27.8 | 5.2% above |
| 50 week MA | $25.7 | 14% above |
| 100 week MA | $21.1 | 39% above |
| 200 week MA | $18.5 | 58% above |
ZIM is in an uptrend: it's above all five of its weekly moving averages, and 58% above its 200-week average.
ZIM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $12.1 | $53.7 | +345% |
| 2022 | $53.7 | $17.5 | -67% |
| 2023 | $17.5 | $9.87 | -44% |
| 2024 | $9.87 | $21.9 | +122% |
| 2025 | $21.9 | $21.4 | -2.5% |
| 2026 YTD | $21.4 | $29.2 | +37% |
ZIM's yearly returns have swung widely, from +345% in 2021 to −67% in 2022. It's up 37% so far in 2026.