ZTO Express (Cayman) (ZTO) Financial Statements & Analysis

ZTO Express (Cayman) (ZTO) Income Statement

ZTO Express (Cayman) reported revenue of CNY 47.76B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 7.9% from CNY 44.28B a year earlier. Net income was CNY 8.83B, up 0.2% year over year, a net margin of 18.5%. Gross margin was 25.0% and operating margin 19.6%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was CNY 14.51B, up 22.6% from the same quarter a year earlier.

ZTO Express (Cayman) Income Statement Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

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ZTO Express (Cayman) Inc. income statement - Annual data in billions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	47.76	44.28	38.42	35.38	30.41	25.21	22.11	17.60	13.06
Cost of Revenue	35.82	30.56	26.76	26.34	23.82	19.38	15.49	12.24	8.71
Gross Profit	11.94	13.72	11.66	9.04	6.59	5.84	6.62	5.36	4.35
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	0.00	2.67	2.43	2.08	1.88	1.66	1.55	1.21	0.78
Operating Expenses	2.57	1.94	1.65	1.30	1.09	1.08	1.16	1.03	0.60
Operating Income	9.37	11.78	10.01	7.74	5.50	4.75	5.46	4.33	3.75
Other Income/Expense
Interest Income	0.73	0.99	0.71	0.50	0.36	0.44	0.59	0.40	0.17
Interest Expense	0.24	-0.34	0.29	0.19	0.13	0.04	0.00	0.00	0.02
Other Income/Expense	1.47	-0.10	0.69	0.56	0.00	0.26	1.29	0.98	0.06
Income
Income Before Tax	10.84	11.73	10.69	8.29	5.74	5.02	6.75	5.32	3.81
Income Tax Expense	1.85	2.85	1.94	1.63	1.01	0.69	1.08	0.93	0.65
Net Income	8.83	8.82	8.75	6.81	4.75	4.31	5.67	4.38	3.16
Net Income - Continuous Operations	8.83	8.89	8.75	6.81	4.70	4.31	5.67	4.38	3.16
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	14.37	14.82	13.85	11.15	8.09	6.91	8.02	6.19	4.40
EBIT	10.52	11.80	10.08	7.74	5.87	4.75	-	-	-
Depreciation & Amortization	3.29	3.02	2.88	2.67	2.22	1.84	1.26	0.85	0.56
Earnings Per Share
Basic EPS	11.00	11.00	11.00	8.00	6.00	5.00	7.00	6.00	4.00
Diluted EPS	11.00	11.00	11.00	8.00	6.00	5.00	7.00	6.00	4.00
Basic Shares Outstanding	0.80	0.80	0.83	0.81	0.82	0.80	0.78	0.75	0.72
Diluted Shares Outstanding	0.82	0.84	0.84	0.82	0.82	0.80	0.78	0.75	0.72

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About ZTO Express (Cayman) Financial Statements

What was ZTO Express (Cayman)'s revenue in fiscal 2025?

ZTO Express (Cayman) reported revenue of CNY 47.76B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 7.9% from CNY 44.28B a year earlier.

Is ZTO Express (Cayman) profitable?

Yes. ZTO Express (Cayman) earned net income of CNY 8.83B in fiscal 2025, a net margin of 18.5%. In fiscal 2024 it earned CNY 8.82B.

What is ZTO Express (Cayman)'s operating margin?

ZTO Express (Cayman)'s operating income was CNY 9.37B on revenue of CNY 47.76B in fiscal 2025, an operating margin of 19.6%, compared with 26.6% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition