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ZTO Express (Cayman) Inc (ZTO) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

INDUSTRIALS · INTEGRATED FREIGHT & LOGISTICS · DATA UPDATED 2026-09-12

ZTO Express (Cayman) Inc (ZTO) operates in the INTEGRATED FREIGHT & LOGISTICS industry and is headquartered in Shanghai, China with about 23,888 employees. Its market capitalization is roughly $16 billion. In the fiscal year ended 2025-12-31, ZTO reported CNY 47.8B in revenue and CNY 8.8B in net income.

ZTO Express (Cayman) Inc. provides express delivery and other value-added logistics services in the People's Republic of China. It also offers less-than-truckload (LTL) logistics services; integrated logistics solutions for warehousing, distribution, and transportation; and freight forwarding services.

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ZTO Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Total Revenue	CNY 53.9B	CNY 47.8B	CNY 44.3B	CNY 38.4B	CNY 35.4B	CNY 30.4B	CNY 25.2B	CNY 22.1B	CNY 17.6B	CNY 13.1B	CNY 9.8B	CNY 6.1B	CNY 3.9B
Gross Profit	CNY 13.5B	CNY 11.9B	CNY 13.7B	CNY 11.7B	CNY 9.0B	CNY 6.6B	CNY 5.8B	CNY 6.6B	CNY 5.4B	CNY 4.3B	CNY 3.4B	CNY 2.1B	CNY 1.1B
Gross Margin %	25.1%	25.0%	31.0%	30.4%	25.6%	21.7%	23.2%	29.9%	30.5%	33.3%	35.2%	34.3%	29.0%
Operating Income (EBIT)	CNY 11.0B	CNY 9.4B	CNY 11.8B	CNY 10.0B	CNY 7.7B	CNY 5.5B	CNY 4.8B	CNY 5.5B	CNY 4.3B	CNY 3.7B	CNY 2.8B	CNY 1.5B	CNY 600M
Operating Margin %	20.3%	19.6%	26.6%	26.1%	21.9%	18.1%	18.9%	24.7%	24.6%	28.7%	28.3%	25.1%	15.4%
Net Income	CNY 10.3B	CNY 8.8B	CNY 8.8B	CNY 8.7B	CNY 6.8B	CNY 4.8B	CNY 4.3B	CNY 5.7B	CNY 4.4B	CNY 3.2B	CNY 2.1B	CNY 1.3B	CNY 406M
Net Margin %	19.0%	18.5%	19.9%	22.8%	19.2%	15.6%	17.1%	25.7%	24.9%	24.2%	21.0%	21.9%	10.4%
EBITDA	CNY 13.6B	CNY 14.4B	CNY 15.0B	CNY 13.9B	CNY 11.1B	CNY 8.1B	CNY 6.9B	CNY 8.0B	CNY 6.2B	CNY 4.4B	CNY 3.2B	CNY 1.9B	CNY 668M
Earnings Per Share (EPS)	CNY 12.70	CNY 10.76	CNY 10.52	CNY 10.43	CNY 8.30	CNY 5.80	CNY 5.42	CNY 7.23	CNY 5.82	CNY 4.40	CNY 3.24	CNY 1.70	CNY 0.52
Shares Outstanding (M)	815M	821M	838M	839M	820M	820M	796M	784M	753M	718M	635M	783M	783M

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ZTO Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	CNY 14.5B	CNY 13.3B	CNY 14.3B	CNY 11.8B	CNY 11.8B	CNY 10.9B	CNY 12.9B	CNY 10.7B
Gross Profit	CNY 3.7B	CNY 3.2B	CNY 3.6B	CNY 2.9B	CNY 2.9B	CNY 2.7B	CNY 3.8B	CNY 3.3B
Gross Margin %	25.7%	24.4%	25.4%	24.9%	24.9%	24.7%	29.1%	31.2%
Operating Income (EBIT)	CNY 3.2B	CNY 2.5B	CNY 3.0B	CNY 2.3B	CNY 2.5B	CNY 2.4B	CNY 3.5B	CNY 2.8B
Operating Margin %	21.8%	18.8%	20.9%	19.6%	20.9%	22.1%	26.7%	26.6%
Net Income	CNY 3.0B	CNY 2.1B	CNY 2.6B	CNY 2.5B	CNY 1.9B	CNY 2.0B	CNY 2.4B	CNY 2.4B
Net Margin %	21.0%	16.0%	18.1%	21.3%	16.4%	18.3%	18.4%	22.4%
EBITDA	CNY 4.0B	CNY 2.7B	CNY 3.3B	CNY 3.6B	CNY 3.5B	CNY 3.5B	CNY 4.2B	CNY 3.1B
Earnings Per Share (EPS)	CNY 3.73	CNY 2.65	CNY 3.26	CNY 3.05	CNY 2.33	CNY 2.40	CNY 2.85	CNY 2.86
Shares Outstanding (M)	815M	798M	793M	823M	832M	832M	837M	838M

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ZTO Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Cash from Operations (CFO)	CNY 14.8B	CNY 12.0B	CNY 11.4B	CNY 13.4B	CNY 11.5B	CNY 7.2B	CNY 5.0B	CNY 6.3B	CNY 4.4B	CNY 3.6B	CNY 2.5B	CNY 1.9B	CNY 1.1B
Capital Expenditures (CapEx)	CNY 7.9B	CNY 6.1B	CNY 5.9B	CNY 6.7B	CNY 8.4B	CNY 9.3B	CNY 9.2B	CNY 5.2B	CNY 4.0B	CNY 2.8B	CNY 2.7B	CNY 1.5B	CNY 790M
Free Cash Flow (FCF)	CNY 6.9B	CNY 5.9B	CNY 5.5B	CNY 6.7B	CNY 3.1B	(CNY 2.1B)	(CNY 4.3B)	CNY 1.1B	CNY 423M	CNY 804M	(CNY 153M)	CNY 392M	CNY 282M
FCF Margin %	12.8%	12.3%	12.5%	17.4%	8.8%	-6.9%	-16.9%	4.9%	2.4%	6.2%	-1.6%	6.4%	7.2%
Dividends Paid	—	CNY 3.8B	CNY 5.6B	CNY 2.1B	CNY 1.4B	CNY 1.4B	CNY 1.6B	CNY 1.3B	CNY 895M	CNY 895M	CNY 0M	CNY 115M	CNY 300M

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ZTO Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	CNY 4.6B	CNY 2.8B	CNY 4.2B	CNY 3.2B	CNY 2.2B	CNY 2.4B	CNY 2.8B	CNY 3.1B
Capital Expenditures (CapEx)	CNY 2.7B	CNY 0M	CNY 5.2B	CNY 0M	CNY 2.9B	CNY 5.2B	CNY 0M	CNY 0M
Free Cash Flow (FCF)	CNY 1.9B	CNY 2.8B	(CNY 988M)	CNY 3.2B	(CNY 757M)	(CNY 2.8B)	CNY 2.8B	CNY 3.1B
FCF Margin %	13.1%	21.0%	-6.9%	27.2%	-6.4%	-26.1%	21.7%	29.1%
Dividends Paid	CNY 2.1B	—	CNY 3.8B	—	CNY 2.1B	CNY 5.6B	—	—

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ZTO Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Total Assets	CNY 98.8B	CNY 91.1B	CNY 92.3B	CNY 88.5B	CNY 78.5B	CNY 62.8B	CNY 59.2B	CNY 45.9B	CNY 39.7B	CNY 25.8B	CNY 23.4B	CNY 10.6B	CNY 5.0B
Cash & Cash Equivalents	CNY 10.0B	CNY 10.0B	CNY 13.5B	CNY 12.3B	CNY 11.7B	CNY 9.7B	CNY 14.2B	CNY 5.3B	CNY 4.6B	CNY 5.4B	CNY 11.3B	CNY 2.5B	CNY 163M
Total Liabilities	CNY 35.0B	CNY 23.9B	CNY 29.7B	CNY 28.2B	CNY 24.1B	CNY 13.8B	CNY 10.1B	CNY 7.5B	CNY 5.4B	CNY 4.4B	CNY 3.7B	CNY 2.7B	CNY 1.6B
Total Debt (Short + Long-Term)	CNY 21.9B	CNY 11.2B	CNY 17.0B	CNY 15.0B	CNY 12.6B	CNY 3.9B	CNY 2.0B	CNY 299M	CNY 406M	CNY 250M	CNY 450M	CNY 300M	CNY 250M
Total Shareholders' Equity	CNY 63.7B	CNY 66.4B	CNY 62.1B	CNY 59.8B	CNY 54.0B	CNY 48.6B	CNY 49.0B	CNY 38.3B	CNY 34.3B	CNY 21.4B	CNY 19.7B	CNY 7.8B	CNY 3.4B

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive ZTO viewer.

Other Companies in INTEGRATED FREIGHT & LOGISTICS

LSTR · Landstar System Inc — $6 billion
GXO · GXO Logistics Inc — $5 billion
PBI · Pitney Bowes Inc — $2 billion
CYRX · Cryoport Inc — $801 million

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