ZIM Integrated Shipping Services (ZIM) financial statements
ZIM Integrated Shipping Services reported revenue of $6.9B in fiscal 2025, up 11.4% a year over 7 years.
Net income was $479M and the operating margin 14.7%, against -0.7% in 2018.
Free cash flow was $2.1B, and the company returned $516M in dividends.
The diluted share count rose 21% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from ZIM Integrated Shipping Services's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.2B | $3.3B | $4.0B | $10.7B | $12.6B | $5.2B | $8.4B | $6.9B |
| Cost of revenue | $3.0B | $2.8B | $2.8B | $3.9B | $4.8B | $3.9B | $4.5B | $4.5B |
| Gross profit | $148M | $263M | $865M | $6.1B | $6.4B | -$2.2B | $2.8B | $1.3B |
| Selling, general and admin | $144M | $152M | $163M | $268M | $338M | $281M | $296M | $336M |
| Operating income | -$23M | $153M | $722M | $5.8B | $6.1B | -$2.5B | $2.5B | $1.0B |
| Interest expense | $101M | $147M | $150M | $169M | $225M | $381M | $468M | $475M |
| Pre-tax income | -$106M | -$1M | $541M | $5.7B | $6.0B | -$2.8B | $2.2B | $658M |
| Income tax | $14M | $12M | $17M | $1.0B | $1.4B | -$128M | $51M | $177M |
| Net income | -$126M | -$18M | $518M | $4.6B | $4.6B | -$2.7B | $2.1B | $479M |
| EPS (diluted) | -$1.26 | -$0.18 | $4.96 | $39.02 | $38.35 | -$22.42 | $17.82 | $3.98 |
| Diluted shares | 100M | 100M | 105M | 119M | 120M | 120M | 120M | 121M |
| Gross margin | 4.6% | 8.0% | 21.7% | 56.5% | 51.2% | -42.8% | 33.0% | 19.1% |
| Operating margin | -0.7% | 4.6% | 18.1% | 54.2% | 48.8% | -48.6% | 30.0% | 14.7% |
| Net margin | -3.9% | -0.6% | 13.0% | 43.3% | 36.8% | -52.2% | 25.5% | 6.9% |
Balance sheet
Fiscal years, from ZIM Integrated Shipping Services's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $186M | $183M | $570M | $1.5B | $1.0B | $922M | $1.3B | $1.1B |
| Receivables | — | $317M | $520M | $1.3B | $826M | $596M | $934M | $676M |
| Inventory | — | $60M | $52M | $119M | $191M | $179M | $212M | $168M |
| Total current assets | — | $631M | $1.2B | $5.1B | $4.3B | $2.6B | $3.3B | $2.6B |
| Property, plant and equipment | $990M | $1.2B | $1.5B | $4.4B | $5.8B | $4.6B | $6.8B | $7.0B |
| Total assets | — | $1.9B | $2.8B | $9.8B | $11.6B | $8.3B | $11.4B | $11.0B |
| Total current liabilities | — | $926M | $1.2B | $2.8B | $2.7B | $2.5B | $2.6B | $2.1B |
| Long-term debt | — | $542M | $519M | $121M | $92M | $74M | $60M | $47M |
| Total liabilities | — | $2.2B | $2.5B | $5.2B | $5.7B | $5.9B | $7.3B | $7.0B |
| Shareholders' equity | -$224M | -$258M | $267M | $4.6B | $5.9B | $2.5B | $4.0B | $4.0B |
| Net debt | -$186M | $499M | $88M | -$1.3B | -$834M | -$800M | -$1.2B | -$962M |
Cash flow
Fiscal years, from ZIM Integrated Shipping Services's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $225M | $371M | $881M | $6.0B | $6.1B | $1.0B | $3.8B | $2.3B |
| Capital spending | $23M | $16M | $43M | $1.0B | $346M | $116M | $214M | $218M |
| Free cash flow | $202M | $354M | $838M | $5.0B | $5.8B | $904M | $3.5B | $2.1B |
| Stock-based compensation | — | — | — | — | $2M | $1M | $400,000 | $200,000 |
| Dividends paid | — | — | — | $536M | $3.3B | $769M | $579M | $516M |
| Free cash flow margin | 6.2% | 10.7% | 21.0% | 46.3% | 45.9% | 17.5% | 42.0% | 30.2% |
| Dividends per share | — | — | — | $4.51 | $27.43 | $6.40 | $4.81 | $4.28 |
Questions
What was ZIM Integrated Shipping Services's revenue in 2025?
$6.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does ZIM Integrated Shipping Services generate?
$2.1B in fiscal 2025 (operating cash flow minus capital spending).
From ZIM Integrated Shipping Services's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.