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ZTO · NYSE · United States · Trucking & Courier Services (No Air)
In shortZTO Express (Cayman) Inc. is profitable, generates cash and holds more cash than debt, with revenue growing (+10.9% last year).
Financial health
Strong
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 21.3% | 88/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 18.5% | 94/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 14.1% | 71/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 11.2% | 75/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.49× | 57/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.17× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 42.13× | 100/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 6.03 | 100/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 13.8% | 75/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 0.74× | 55/100 |
| Years with positive free cash flow (last 5) | 4 of 5 | 75/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 5 | 100/100 |
| Revenue growth volatility | 4.7% | 94/100 |
| Operating margin volatility | 3.5% | 77/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 11.5% | 81/100 |
|---|---|---|
| EPS growth, 3-year average | 10.2% | 76/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
CNY millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 30,406 | 35,377 | 38,419 | 44,281 | 49,099 |
| Cost of revenue | 23,816 | 26,338 | 26,756 | 30,564 | 36,827 |
| Gross profit | 6,589 | 9,039 | 11,663 | 13,717 | 12,271 |
| Selling, general & admin | 1,876 | 2,077 | 2,425 | 2,690 | 2,638 |
| Operating income | 5,503 | 7,736 | 10,008 | 11,777 | 10,475 |
| Interest expense | 127 | 191 | 290 | 338 | 249 |
| Pre-tax income | 5,739 | 8,286 | 10,689 | 11,676 | 11,054 |
| Income tax | 1,005 | 1,633 | 1,939 | 2,845 | 1,905 |
| Net income | 4,755 | 6,809 | 8,749 | 8,817 | 9,081 |
| Diluted EPS | ¥5.80 | ¥8.36 | ¥10.60 | ¥10.70 | ¥11.19 |
| Diluted shares (millions) | 820 | 820 | 839 | 838 | 821 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
6.03 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
8/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Apr 17, 2026