InsiderClue
Stocks · Industrials · Trucking & Courier Services (No Air)

ZTO Express (Cayman) Inc.

ZTO Clue Score74
China CIK 0001677250
$20.45 +1.49% Close, 12 Oct 2026
Alert on the numbers Alert on insider trades
Price $20.45 −34.66% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 27 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue9.79Operating income2.77Net income2.05EPS, diluted2.91Fiscal year 2017Revenue13.06 +33.4%Operating income3.75Net income3.16 +53.8%EPS, diluted4.40 +51.2%Fiscal year 2018Revenue17.60 +34.8%Operating income4.33Net income4.38 +38.7%EPS, diluted5.82 +32.3%Fiscal year 2019Revenue22.11 +25.6%Operating income5.46Net income5.67 +29.5%EPS, diluted7.23 +24.2%Fiscal year 2020Revenue25.21 +14.0%Operating income4.75Net income4.31 −24.0%EPS, diluted5.42 −25.0%Fiscal year 2021Revenue30.41 +20.6%Operating income5.50Net income4.75 +10.3%EPS, diluted5.80 +7.0%Fiscal year 2022Revenue35.38 +16.3%Operating income7.74Net income6.81 +43.2%EPS, diluted8.36 +44.1%Fiscal year 2023Revenue38.42 +8.6%Operating income10.01Net income8.75 +28.5%EPS, diluted10.60 +26.8%Fiscal year 2024Revenue44.28 +15.3%Operating income11.78Net income8.82 +0.8%EPS, diluted10.70 +0.9%Fiscal year 2025Revenue49.10 +10.9%Operating income10.47Net income9.08 +3.0%EPS, diluted11.19 +4.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 9.79 13.06 17.60 22.11 25.21 30.41 35.38 38.42 44.28 49.10
Growth +33.4% +34.8% +25.6% +14.0% +20.6% +16.3% +8.6% +15.3% +10.9%
Operating income 2.77 3.75 4.33 5.46 4.75 5.50 7.74 10.01 11.78 10.47
Net income 2.05 3.16 4.38 5.67 4.31 4.75 6.81 8.75 8.82 9.08
Growth +53.8% +38.7% +29.5% −24.0% +10.3% +43.2% +28.5% +0.8% +3.0%
EPS, diluted 2.91 4.40 5.82 7.23 5.42 5.80 8.36 10.60 10.70 11.19
Growth +51.2% +32.3% +24.2% −25.0% +7.0% +44.1% +26.8% +0.9% +4.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin35.2%Operating margin28.3%Net margin21.0%Free cash flow margin6.0%Fiscal year 2017Gross margin33.3%Operating margin28.7%Net margin24.2%Free cash flow margin8.1%Fiscal year 2018Gross margin30.5%Operating margin24.6%Net margin24.9%Free cash flow margin6.1%Fiscal year 2019Gross margin29.9%Operating margin24.7%Net margin25.7%Free cash flow margin7.5%Fiscal year 2020Gross margin23.1%Operating margin18.9%Net margin17.1%Free cash flow margin−9.1%Fiscal year 2021Gross margin21.7%Operating margin18.1%Net margin15.6%Free cash flow margin−3.8%Fiscal year 2022Gross margin25.6%Operating margin21.9%Net margin19.2%Free cash flow margin12.5%Fiscal year 2023Gross margin30.4%Operating margin26.0%Net margin22.8%Free cash flow margin17.8%Fiscal year 2024Gross margin31.0%Operating margin26.6%Net margin19.9%Free cash flow margin14.0%Fiscal year 2025Gross margin25.0%Operating margin21.3%Net margin18.5%Free cash flow margin13.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 35.2% 33.3% 30.5% 29.9% 23.1% 21.7% 25.6% 30.4% 31.0% 25.0%
Operating margin 28.3% 28.7% 24.6% 24.7% 18.9% 18.1% 21.9% 26.0% 26.6% 21.3%
Net margin 21.0% 24.2% 24.9% 25.7% 17.1% 15.6% 19.2% 22.8% 19.9% 18.5%
Free cash flow margin 6.0% 8.1% 6.1% 7.5% −9.1% −3.8% 12.5% 17.8% 14.0% 13.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow2.57Capital expenditure−1.99Free cash flow0.59Fiscal year 2017Operating cash flow3.63Capital expenditure−2.57Free cash flow1.06 +80.6%Buybacks−0.86Fiscal year 2018Operating cash flow4.40Capital expenditure−3.32Free cash flow1.08 +2.1%Buybacks−0.77Dividends paid−0.90Fiscal year 2019Operating cash flow6.30Capital expenditure−4.64Free cash flow1.67 +54.5%Buybacks−0.76Dividends paid−1.27Fiscal year 2020Operating cash flow4.95Capital expenditure−7.24Free cash flow−2.29 −237.0%Buybacks−1.23Dividends paid−1.65Fiscal year 2021Operating cash flow7.22Capital expenditure−8.36Free cash flow−1.14Buybacks−3.81Dividends paid−1.35Fiscal year 2022Operating cash flow11.48Capital expenditure−7.07Free cash flow4.41Buybacks−0.08Dividends paid−1.32Fiscal year 2023Operating cash flow13.36Capital expenditure−6.53Free cash flow6.83 +54.9%Buybacks−1.01Dividends paid−2.07Fiscal year 2024Operating cash flow11.43Capital expenditure−5.21Free cash flow6.22 −8.9%Buybacks−1.16Dividends paid−5.61Fiscal year 2025Operating cash flow11.97Capital expenditure−5.21Free cash flow6.75 +8.6%Buybacks−1.25Dividends paid−3.76
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 2.57 3.63 4.40 6.30 4.95 7.22 11.48 13.36 11.43 11.97
Capital expenditure −1.99 −2.57 −3.32 −4.64 −7.24 −8.36 −7.07 −6.53 −5.21 −5.21
Free cash flow 0.59 1.06 1.08 1.67 −2.29 −1.14 4.41 6.83 6.22 6.75
Growth +80.6% +2.1% +54.5% −237.0% +54.9% −8.9% +8.6%
Buybacks n/a −0.86 −0.77 −0.76 −1.23 −3.81 −0.08 −1.01 −1.16 −1.25
Dividends paid n/a n/a −0.90 −1.27 −1.65 −1.35 −1.32 −2.07 −5.61 −3.76

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash11.29Shareholders’ equity19.75Fiscal year 2017Cash5.43Shareholders’ equity21.44Fiscal year 2018Cash4.62Shareholders’ equity34.22Fiscal year 2019Cash5.27Shareholders’ equity38.30Fiscal year 2020Cash14.21Shareholders’ equity48.98Fiscal year 2021Cash9.72Shareholders’ equity48.64Fiscal year 2022Cash11.69Shareholders’ equity54.03Fiscal year 2023Cash12.33Shareholders’ equity59.80Fiscal year 2024Cash13.47Shareholders’ equity62.06Fiscal year 2025Cash10.01Shareholders’ equity66.38
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 11.29 5.43 4.62 5.27 14.21 9.72 11.69 12.33 13.47 10.01
Shareholders’ equity 19.75 21.44 34.22 38.30 48.98 48.64 54.03 59.80 62.06 66.38

In billions of CNY, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
35.2% 33.3% 30.5% 29.9% 23.1% 21.7% 25.6% 30.4% 31.0% 25.0%
28.3% 28.7% 24.6% 24.7% 18.9% 18.1% 21.9% 26.0% 26.6% 21.3%
28.8% 29.3% 30.3% 30.6% 20.0% 18.9% 23.4% 27.8% 26.4% 22.5%
21.0% 24.2% 24.9% 25.7% 17.1% 15.6% 19.2% 22.8% 19.9% 18.5%
6.0% 8.1% 6.1% 7.5% −9.1% −3.8% 12.5% 17.8% 14.0% 13.8%
Spending
7.2% 6.0% 6.9% 7.0% 6.6% 6.2% 5.9% 6.3% 6.1% 5.4%
20.3% 19.7% 18.9% 21.0% 28.7% 27.5% 20.0% 17.0% 11.8% 10.6%
26.0% 16.9% 17.4% 16.0% 13.7% 17.5% 19.7% 18.1% 24.4% 17.2%
Returns
10.4% 14.7% 12.8% 14.8% 8.8% 9.8% 12.6% 14.6% 14.2% 13.7%
8.8% 12.2% 11.0% 12.4% 7.3% 7.6% 8.7% 9.9% 9.5% 10.0%
Balance and payout
15.6% 17.0% 13.6% 16.3% 17.1% 22.1% 30.6% 31.9% 32.1% 26.2%
n/a n/a 20.4% 22.4% 38.2% 28.5% 19.4% 23.7% 63.6% 41.4%
n/a 81.0% 154.1% 121.9% n/a n/a 31.9% 45.1% 108.7% 74.1%

Shown in CNY as filed; the screener converts to dollars.