‘Zombie’ companies are firms whose financial expenses from debt exceed their profits, and their prevalence has increased globally since the 2000s, particularly in emerging markets where economic and institutional conditions favor their survival. This paper aims to measure and document the fraction of ‘zombie’ companies in emerging markets, with particular emphasis on highlighting Brazil. The results indicate that, on average, static ‘zombies’ account for 7.58% of firms and dynamic ‘zombies’ for 5.49% across emerging markets. Brazil consistently exhibits the highest shares, with 16.75% for static ‘zombies’ and 13.94% for dynamic ‘zombies’, approximately 2.3 times higher than the emerging market averages, confirming its status as the largest ‘zombieland’ in the group. These findings underscore the importance of further research into the institutional and economic factors that allow ‘zombie’ firms to persist, as well as the potential consequences for productivity, capital allocation, and financial stability. They also point to the need for effective policy measures, such as strengthened bankruptcy procedures and corporate restructuring incentives, to mitigate the growth of financially fragile firms, particularly in countries most affected, like Brazil.