ZTO · Zto Express (Cayman) Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - |
| Cost of Revenue | $5.27B | $4.19B | $3.77B | $3.82B | $3.74B | $2.97B |
| Gross Profit | $1.75B | $1.88B | $1.64B | $1.31B | $1.03B | $894.58M |
| R&D | - | - | - | - | - | - |
| SG&A | $377.17M | $368.53M | $341.59M | $301.19M | $294.37M | $254.97M |
| Total Operating Expenses | $256.91M | $265.81M | $233.05M | $188.89M | $170.47M | $165.94M |
| D&A | $483.26M | $414.20M | $404.96M | $387.19M | $348.64M | $282.06M |
| Operating Income | $1.50B | $1.61B | $1.41B | $1.12B | $863.54M | $728.64M |
| Interest Expense | $35.55M | $46.30M | $40.78M | $27.62M | $19.85M | $5.41M |
| Income Tax | $272.44M | $389.81M | $273.05M | $236.81M | $157.78M | $105.72M |
| Net Income | $1.30B | $1.21B | $1.23B | $987.22M | $746.14M | $660.88M |
| EPS - Basic | $1.63 | $1.50 | $1.53 | $1.22 | $0.91 | $0.83 |
| EPS - Diluted | $1.60 | $1.47 | $1.49 | $1.21 | $0.91 | $0.83 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.43B | $1.84B | $1.74B | $1.70B | $1.53B | $2.18B |
| Accounts Receivable | $184.11M | $206.01M | $80.64M | $118.74M | $146.48M | $114.33M |
| Inventory | $5.81M | $5.28M | $3.95M | $5.88M | $13.02M | $8.13M |
| Accounts Payable | $368.54M | $337.48M | $360.15M | $319.36M | $307.18M | $250.71M |
| Current Assets | $4.86B | $4.16B | $3.80B | $3.55B | $2.93B | $3.42B |
| Total Assets | $13.02B | $12.65B | $12.46B | $11.38B | $9.85B | $9.07B |
| Current Liabilities | $3.27B | $3.87B | $2.83B | $2.38B | $2.04B | $1.43B |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $3.42B | $4.06B | $3.97B | $3.49B | $2.17B | $1.55B |
| Stockholders' Equity | $9.49B | $8.50B | $8.42B | $7.83B | $7.63B | $7.51B |
| Retained Earnings | $6.14B | $5.36B | $5.11B | $4.27B | $3.56B | $3.22B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.71B | $1.57B | $1.88B | $1.66B | $1.13B | $758.74M |
| Investing Cash Flow | ($690.27M) | ($819.36M) | ($1.73B) | ($2.33B) | ($1.37B) | ($543.96M) |
| Financing Cash Flow | ($1.51B) | ($684.34M) | ($108.43M) | $1.02B | ($455.70M) | $1.28B |
| CapEx | $745.63M | $713.51M | $919.57M | $1.02B | $1.31B | $1.11B |
| Free Cash Flow | $965.83M | $852.31M | $962.28M | $639.62M | ($178.93M) | ($350.43M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - |
| Free cash flow margin | - | - | - | - | - | - |
| FCF / Net income | 0.74 | 0.71 | 0.78 | 0.65 | -0.24 | -0.53 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - |
| Effective tax rate | 17.3% | 24.4% | 18.1% | 19.3% | 17.5% | 13.8% |
| Return on assets | 10.0% | 9.5% | 9.9% | 8.7% | 7.6% | 7.3% |
| Return on equity | 13.7% | 14.2% | 14.6% | 12.6% | 9.8% | 8.8% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 1.49 | 1.07 | 1.34 | 1.49 | 1.44 | 2.39 |
| Quick ratio | 1.48 | 1.07 | 1.34 | 1.49 | 1.43 | 2.38 |
| Cash ratio | 0.44 | 0.48 | 0.61 | 0.71 | 0.75 | 1.52 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | 42.1x | 34.9x | 34.6x | 40.6x | 43.5x | 134.7x |
| Equity multiplier | 1.37 | 1.49 | 1.48 | 1.45 | 1.29 | 1.21 |
| Liabilities / Assets | 0.26 | 0.32 | 0.32 | 0.31 | 0.22 | 0.17 |
| Efficiency | ||||||
| Asset turnover | - | - | - | - | - | - |
| Inventory turnover | 905.94 | 792.43 | 953.10 | 649.76 | 287.09 | 365.14 |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | 0d | 0d | 0d | 1d | 1d | 1d |
| Days payable outstanding | 26d | 29d | 35d | 31d | 30d | 31d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | -6.6% | 14.4% | 25.3% | 26.7% | 15.6% | -5.9% |
| Operating income growth (YoY) | -7.2% | 14.5% | 25.7% | 29.9% | 18.5% | -7.1% |
| Net income growth (YoY) | 7.5% | -2.0% | 24.8% | 32.3% | 12.9% | -18.9% |
| EPS growth (YoY) | 8.8% | -1.3% | 23.1% | 33.0% | 9.6% | -20.2% |
| EPS CAGR (3y) | 9.8% | 17.3% | 21.5% | 5.2% | 2.3% | 6.9% |
| EPS CAGR (5y) | 14.0% | 7.2% | 11.9% | 12.2% | 16.7% | - |
| FCF growth (YoY) | 13.3% | -11.4% | 50.4% | - | 48.9% | - |
| FCF CAGR (5y) | - | 28.9% | 43.7% | 31.5% | - | - |
| Book value growth (YoY) | 11.6% | 0.9% | 7.5% | 2.6% | 1.7% | 36.4% |
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- -Gross margin improved
- -Asset turnover improved
Peer comparison
Same SIC group: Trucking & Courier Services (No Air)
Comparing ZTO Express (Cayman) Inc. against the 4 most active filers in the same SIC group.