ZKH Group Limited (ZKH) Balance Sheet
ZKH balance sheet, FY2026
September 30, 2026 · U.S. dollars$6.53B assets = $3.59B liabilities + $2.94B equity
Both columns are drawn to the same scale: what ZKH owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ZKH financial health
Descriptive bands, not a rating. Fiscal FY2026.
ZKH balance sheet trends, FY2025–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $6.61BFY2025 | $6.53BFY2026 | −1.2%/yr | |
| Total liabilities | $3.51BFY2025 | $3.59BFY2026 | +2.2%/yr | |
| Shareholders’ equity | $3.10BFY2025 | $2.94BFY2026 | −5.0%/yr | |
| Cash & short-term investments | $1.97BFY2025 | $1.92BFY2026 | −2.5%/yr | |
| Total debt | $548.6MFY2025 | $427.3MFY2026 | −22.1%/yr | |
| Net cash (debt) | $1.42BFY2025 | $1.49BFY2026 | +$72.4M | |
| Working capital | $2.85BFY2025 | $2.71BFY2026 | −$136.5M | |
| Current ratio | 1.85FY2025 | 1.79FY2026 | −0.06 | |
| Debt / equity | 0.18FY2025 | 0.15FY2026 | −0.03 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ZKH assets
ZKH liabilities and equity
ZKH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ZKH balance sheet
| FY2026 | FY2025 | |
|---|---|---|
| Assets | ||
| Cash & short-term investments | $1.92B | $1.97B |
| Cash & equivalents | $1.09B | $1.42B |
| Short-term investments | $825.8M | $544.0M |
| Receivables | $3.37B | $3.35B |
| Inventory | $670.3M | $625.4M |
| Other current assets | $180.3M | $242.8M |
| Total current assets | $6.14B | $6.19B |
| Property, plant & equipment (net) | $339.2M | $374.3M |
| Goodwill & intangible assets | $63.3M | $57.5M |
| Long-term investments | $0 | $0 |
| Other non-current assets | $0 | $0 |
| Total assets | $6.53B | $6.61B |
| Liabilities | ||
| Accounts payable | $2.72B | $2.55B |
| Short-term debt | $292.5M | $400.7M |
| Deferred revenue | $27.2M | $27.4M |
| Total current liabilities | $3.43B | $3.34B |
| Long-term debt | $0 | $42.7M |
| Lease obligations | — | $142.1M |
| Other long-term liabilities | $162.8M | $130.6M |
| Total liabilities | $3.59B | $3.51B |
| Shareholders' equity | ||
| Common stock & paid-in capital | $4,002 | $4,000 |
| Retained earnings (deficit) | −$5.32B | −$5.17B |
| Accumulated other comprehensive income | −$30.7M | $4.8M |
| Total shareholders' equity | $2.94B | $3.10B |
| Key figures | ||
| Total debt | $427.3M | $548.6M |
| Net cash (debt) | $1.49B | $1.42B |
| Working capital | $2.71B | $2.85B |
| Tangible book value | $2.88B | $3.04B |
| Book value per share | $18.12 | — |
| Shares outstanding | 162.5M | — |
| Current ratio | 1.79 | 1.85 |
| Quick ratio | 1.54 | 1.59 |
| Debt / equity | 0.15 | 0.18 |
| Equity / assets | 45.0% | 46.9% |
| Dec '25 | |
|---|---|
| Assets | |
| Cash & short-term investments | $1.92B |
| Cash & equivalents | $1.09B |
| Short-term investments | $825.8M |
| Receivables | $3.37B |
| Inventory | $670.3M |
| Other current assets | $180.3M |
| Total current assets | $6.14B |
| Property, plant & equipment (net) | $339.2M |
| Goodwill & intangible assets | $85.2M |
| Long-term investments | $0 |
| Other non-current assets | $0 |
| Total assets | $6.53B |
| Liabilities | |
| Accounts payable | $2.72B |
| Short-term debt | $292.7M |
| Deferred revenue | $27.2M |
| Total current liabilities | $3.43B |
| Long-term debt | $42.7M |
| Lease obligations | $142.1M |
| Other long-term liabilities | $120.2M |
| Total liabilities | $3.59B |
| Shareholders' equity | |
| Common stock & paid-in capital | $4,002 |
| Retained earnings (deficit) | −$5.32B |
| Accumulated other comprehensive income | −$30.7M |
| Total shareholders' equity | $2.94B |
| Key figures | |
| Total debt | $427.3M |
| Net cash (debt) | $1.49B |
| Working capital | $2.71B |
| Tangible book value | $2.86B |
| Book value per share | $18.17 |
| Shares outstanding | 162.0M |
| Current ratio | 1.79 |
| Quick ratio | 1.54 |
| Debt / equity | 0.15 |
| Equity / assets | 45.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 24, 2026); data from EODHD.
ZKH financial position
At the end of fiscal 2026 (September 30, 2026), ZKH had total assets of $6.5 billion (down 1.2% from a year earlier), total liabilities of $3.6 billion and shareholders' equity of $2.9 billion. It held $1.9 billion in cash and short-term investments against $427.3 million of debt, a net cash position of $1.5 billion. Its current ratio was 1.79.
Related: ZKH income statement, ZKH key metrics. See the ZKH stock overview for the latest quote and news.
ZKH balance sheet FAQ
What are ZKH's total assets?
ZKH reported total assets of $6.5 billion at the end of fiscal 2026 (September 30, 2026), compared with $6.6 billion a year earlier.
How much debt does ZKH have?
ZKH had $427.3 million of total debt at the end of fiscal 2026, including short-term borrowings. Its debt-to-equity ratio was 0.15.
How much cash does ZKH have?
ZKH held $1.9 billion in cash and short-term investments at the end of fiscal 2026; with $427.3 million of debt that is net cash of $1.5 billion.
What is ZKH's book value?
ZKH's shareholders' equity (book value) was $2.9 billion at the end of fiscal 2026, or $18.12 per share.
What is ZKH's current ratio?
ZKH had current assets of $6.1 billion and current liabilities of $3.4 billion, a current ratio of 1.79 (it can cover its short-term obligations).
How much goodwill does ZKH have?
ZKH carried $63.3 million of goodwill and intangible assets, 1.0% of total assets, at the end of fiscal 2026.