ZTONYSETrucking & Courier Services (No Air)Also trades as ZTOEF

ZTO Express (Cayman) Inc.

Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 17, 2026

$20.06−0.11 (-0.55%)

Close on Oct 19, 2026

Margins

Share of revenue, fiscal years 2013 to 2025

25.0%+1.8 pts over 5 years

21.3%+2.5 pts over 5 years

18.5%+1.4 pts over 5 years

Compound annual growth to fiscal 2025

Per year	1 year	3 years	5 years	10 years
Revenue	+10.9%	+11.5%	+14.3%	+23.2%
Gross profit	-10.5%	+10.7%	+16.0%	+19.4%
Operating income	-11.1%	+10.6%	+17.1%	+21.2%
Net income	+3.0%	+10.1%	+16.1%	+21.2%
EPS, diluted	+4.6%	+10.2%	+15.6%	+17.9%
Free cash flow	+8.6%	+15.3%	–	+20.2%

10 fiscal years. Hover a measure to see how it is calculated.

Measure	FY2016	FY2020	FY2025
Return on equity	16.0%	9.9%	14.1%
Return on assets	12.1%	8.2%	9.9%
Current ratio	3.74	2.39	1.49
Interest coverage	213.2×	134.7×	42.1×
Inventory turnover	255.5×	399.9×	929.8×
Capex to revenue	20.3%	28.7%	10.6%
Diluted shares	635M	796M	821M

Return on equity split into margin, efficiency and leverage

Net margin18.5%

Asset turnover0.54×

Equity multiplier1.43×

Return on equity, FY202514.1%

Fiscal year	Net margin	Asset turnover	Equity multiplier	Return on equity
FY2025	18.5%	0.54×	1.43×	14.1%
FY2024	19.9%	0.49×	1.48×	14.5%
FY2023	22.8%	0.46×	1.47×	15.4%
FY2022	19.2%	0.50×	1.38×	13.3%
FY2021	15.6%	0.50×	1.25×	9.7%
FY2020	17.1%	0.48×	1.20×	9.9%
FY2019	25.7%	0.52×	1.18×	15.6%
FY2018	24.9%	0.54×	1.18×	15.8%
FY2017	24.2%	0.53×	1.20×	15.3%
FY2016	21.0%	0.58×	1.33×	16.0%

Parsed from the XBRL in ZTO Express (Cayman)'s annual and quarterly filings with the SEC
Fourth quarters derived from the annual report minus nine months
Every figure in the statements links to its source filing

Trailing twelve months. Peers are matched on business description, industry and size. Ticks are peers, the dot is ZTO.

Revenue growth10.9% · median -0.5%

Operating margin21.3% · median 16.6%

Net margin18.5% · median 12.3%

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