ZIM Integrated Shipping Services Ltd.
ZIM · Deep Sea Foreign Transportation of Freight · EDGAR filings ↗
Grade
C64Cyclical container liner with strong balance sheet and ROIC but sharply falling earnings, pending Hapag-Lloyd takeover.
Strengths
- ROIC 19.5% (92.6th pct) and large cash position (97.6th pct) with minimal debt (6.9th pct)
- Still profitable (net margin 7%, ROE 12%) through a freight-rate downcycle
Risks
- Net income down 78% and revenue down 18% — deep cyclical deterioration
- Charters ~86% of fleet, leaving costs exposed to volatile charter market
- Pending merger and Red Sea/Israel geopolitical exposure add binary/operational risk
Notable findings
- Strong balance sheetStrong balance sheet — $1.1B cash & investments
- Pending mergerThere are many factors that could cause our actual results, level of activity, performance or achievements or matters relating to the Merger to differ materially from the results, level of activity,
- Revenue declineRevenue -18.1% YoY
Key metrics
Gross margin
19.1%
Operating margin
14.7%
Net margin
7.0%
Return on equity
12.0%
Return on assets
4.4%
ROIC
19.5%
Revenue growth (QoQ)
-18.1%
Net-income growth
-77.6%
Debt / equity
0.0×
Interest coverage
2.1×
Current ratio
1.2×
Tangible book value
$4.0B
Cash & investments
$1.1B
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-03-09 | 2025-12-31 | 0001178913-26-000784 ↗ |
| 20-F | 2025-03-12 | 2024-12-31 | 0001178913-25-000793 ↗ |
| 20-F | 2024-03-13 | 2023-12-31 | 0001178913-24-000920 ↗ |
| 20-F | 2023-03-13 | 2022-12-31 | 0001178913-23-000936 ↗ |
| 20-F | 2022-03-09 | 2021-12-31 | 0001410578-22-000304 ↗ |
| 20-F | 2021-03-22 | 2020-12-31 | 0001104659-21-039375 ↗ |