ZTO Express (Cayman) Inc. ZTO

Industrials SIC 4210 - Trucking & Courier Services (No Air) NAICS Transportation and Warehousing › Truck Transportation derived NYSE

Last close —
Market cap —
52-week range — - —

No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.

Valuation FY2025 figures against the last close

P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS1.60

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $7.02B$6.07B$5.41B$5.13B$4.77B$3.86B$3.18B$2.56B$2.01B$1.41B
Cost of revenue $5.27B$4.19B$3.77B$3.82B$3.74B$2.97B$2.22B$1.78B$1.34B$914.0M
Gross profit $1.75B$1.88B$1.64B$1.31B$1.03B$894.6M$951.1M$780.3M$667.9M$495.9M
SG&A $377.2M$368.5M$341.6M$301.2M$294.4M$255.0M$222.1M$176.1M$120.0M$101.7M
Total operating expenses $256.9M$265.8M$233.0M$188.9M$170.5M$165.9M$166.4M$150.2M$91.8M$97.1M
Operating income $1.50B$1.61B$1.41B$1.12B$863.5M$728.6M$784.7M$630.1M$576.1M$398.8M
Interest expense $35.6M$46.3M$40.8M$27.6M$19.9M$5.4M—$113.0K$2.4M$1.9M
Pre-tax income $1.58B$1.60B$1.51B$1.20B$900.6M$771.6M$970.6M$776.2M$587.3M$406.2M
Income tax $272.4M$389.8M$273.0M$236.8M$157.8M$105.7M$154.9M$135.1M$99.3M$105.4M
Net income $1.30B$1.21B$1.23B$987.2M$746.1M$660.9M$815.0M$637.5M$485.6M$295.8M
EPS, basic 1.631.501.531.220.910.831.040.850.680.42
EPS, diluted 1.601.471.491.210.910.831.040.850.680.42
Shares, diluted (wtd. avg.) 820.8M838.4M838.9M820.3M820.0M796.1M784.3M752.7M717.6M634.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.43B$1.93B$1.79B$1.78B$1.42B$2.25B$808.8M$664.0M$839.8M$1.83B
Short-term investments $2.23B$1.21B$1.05B$834.2M$446.5M$565.6M$1.60B$1.98B$803.0M—
Receivables $184.1M$206.0M$80.6M$118.7M$146.5M$114.3M$97.0M$86.8M$44.2M$28.5M
Inventory $5.8M$5.3M$4.0M$5.9M$13.0M$8.1M$6.3M$6.4M$5.3M$4.9M
Total current assets $4.86B$4.16B$3.80B$3.55B$2.93B$3.42B$2.89B$3.09B$1.90B$1.90B
Property, plant and equipment $5.07B$4.65B$4.53B$4.18B$3.91B$2.85B$1.79B$1.31B$994.9M$585.6M
Goodwill $594.5M$581.1M$597.4M$615.0M$665.6M$650.0M$609.3M$616.9M$651.9M$598.7M
Other intangibles $7.5M$2.3M$3.3M$4.3M$5.6M$6.4M$6.9M$7.9M$9.3M$187.7M
Total assets $13.02B$12.65B$12.46B$11.38B$9.85B$9.07B$6.59B$5.77B$3.97B$3.37B
Short-term debt $1.56B$1.30B$1.09B$782.1M$542.7M$219.6M——$38.4M$64.8M
Total current liabilities $3.27B$3.87B$2.83B$2.38B$2.04B$1.43B$959.7M$747.8M$637.2M$507.3M
Total liabilities $3.42B$4.06B$3.97B$3.49B$2.17B$1.55B$1.08B$787.3M$674.2M$526.1M
Retained earnings $6.14B$5.36B$5.11B$4.27B$3.56B$3.22B$2.40B$1.61B$1.03B$505.5M
Total equity $9.49B$8.50B$8.42B$7.83B$7.63B$7.51B$5.50B$4.98B$3.29B$2.84B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.71B$1.57B$1.88B$1.66B$1.13B$758.7M$905.5M$640.5M$558.0M$365.3M
Depreciation and amortisation $483.3M$414.2M$405.0M$387.2M$348.6M$282.1M$181.6M$124.2M$86.1M$46.8M
Stock-based compensation $32.8M$43.7M$35.9M$25.9M$38.9M$40.5M$45.5M$36.3M$6.3M$17.6M
Capital expenditure $745.6M$713.5M$919.6M$1.02B$1.31B$1.11B$665.9M$483.4M$395.3M$286.1M
Investing cash flow -$690.3M-$819.4M-$1.73B-$2.33B-$1.37B-$544.0M-$526.3M-$1.87B-$1.27B-$492.3M
Financing cash flow -$1.51B-$684.3M-$108.4M$1.02B-$455.7M$1.28B-$284.7M$1.02B-$163.2M$1.36B
Dividends paid $537.0M$767.9M$291.9M$191.8M$212.5M$252.8M$182.5M$130.2M——
Buybacks $179.1M$158.6M$141.8M$12.3M$598.0M$188.3M$109.6M$112.0M$131.8M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-044613.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2B 4B 6B 8B Revenue, FY2016: 1.4B Gross profit, FY2016: 495.9M Net income, FY2016: 295.8M Revenue, FY2017: 2B Gross profit, FY2017: 667.9M Net income, FY2017: 485.6M Revenue, FY2018: 2.6B Gross profit, FY2018: 780.3M Net income, FY2018: 637.5M Revenue, FY2019: 3.2B Gross profit, FY2019: 951.1M Net income, FY2019: 815M Revenue, FY2020: 3.9B Gross profit, FY2020: 894.6M Net income, FY2020: 660.9M Revenue, FY2021: 4.8B Gross profit, FY2021: 1B Net income, FY2021: 746.1M Revenue, FY2022: 5.1B Gross profit, FY2022: 1.3B Net income, FY2022: 987.2M Revenue, FY2023: 5.4B Gross profit, FY2023: 1.6B Net income, FY2023: 1.2B Revenue, FY2024: 6.1B Gross profit, FY2024: 1.9B Net income, FY2024: 1.2B Revenue, FY2025: 7B Gross profit, FY2025: 1.8B Net income, FY2025: 1.3B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.41B $2.01B $2.56B $3.18B $3.86B $4.77B $5.13B $5.41B $6.07B $7.02B
Gross profit $495.9M $667.9M $780.3M $951.1M $894.6M $1.03B $1.31B $1.64B $1.88B $1.75B
Net income $295.8M $485.6M $637.5M $815.0M $660.9M $746.1M $987.2M $1.23B $1.21B $1.30B

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