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ZTO Express
(NYSE:ZTO)
ZTO Express (ZTO) vs. SPDR S&P 500 ETF (SPY)
ZTO Express Business Overview & Revenue Model
ZTO Express Earnings Call Summary
ZTO Express Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 46.32B | 44.28B | 38.42B | 35.38B | 30.41B | 25.21B |
| Gross Profit | 12.73B | 13.72B | 11.66B | 9.04B | 6.59B | 5.84B |
| EBITDA | 11.79B | 15.04B | 13.85B | 11.15B | 8.09B | 6.91B |
| Net Income | 8.71B | 8.82B | 8.75B | 6.81B | 4.75B | 4.31B |
Balance Sheet | ||||||
| Total Assets | 94.62B | 92.34B | 88.47B | 78.52B | 62.77B | 59.20B |
| Cash, Cash Equivalents and Short-Term Investments | 26.52B | 22.31B | 19.79B | 17.45B | 12.72B | 17.90B |
| Total Debt | 18.87B | 17.35B | 15.44B | 13.12B | 4.44B | 2.51B |
| Total Liabilities | 29.76B | 29.67B | 28.18B | 24.05B | 13.84B | 10.11B |
| Stockholders Equity | 64.20B | 62.06B | 59.80B | 54.03B | 48.64B | 48.98B |
Cash Flow | ||||||
| Free Cash Flow | 2.32B | 5.53B | 6.69B | 4.07B | -2.11B | -4.26B |
| Operating Cash Flow | 10.45B | 11.43B | 13.36B | 11.48B | 7.22B | 4.95B |
| Investing Cash Flow | -3.26B | -5.98B | -12.25B | -16.04B | -8.76B | -3.55B |
| Financing Cash Flow | -4.40B | -5.00B | -769.84M | 7.06B | -2.90B | 8.34B |
ZTO Express Technical Analysis
ZTO Express Risk Analysis
ZTO Express Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $18.67B | 16.34 | 13.83% | 2.98% | 12.89% | 3.12% | |
73 Outperform | $91.05B | 21.35 | 15.87% | 1.94% | 3.09% | 14.94% | |
69 Neutral | $21.95B | 38.11 | 15.79% | 0.89% | -1.60% | 4.87% | |
66 Neutral | $19.44B | 24.39 | 35.40% | 1.02% | 12.54% | 19.59% | |
66 Neutral | $97.15B | 17.69 | 33.83% | 6.55% | -1.25% | -2.25% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | $22.21B | 38.34 | 32.91% | 1.51% | -7.08% | 71.39% |
ZTO Express Corporate Events
On February 2, 2026, ZTO Express filed its February Form 6-K and a monthly return with the Hong Kong Stock Exchange covering movements in its securities for the month ended January 31, 2026, confirming that there were no changes in its issued share capital or treasury shares during the period. The company reported that its authorised share capital remained at 1 billion US dollars equivalent, with 589,428,169 Class A ordinary shares and 206,100,000 Class B ordinary shares issued, no new shares or options were granted, exercised, or cancelled, its 2027 convertible senior notes balance was unchanged with potential to convert into 617,112 Class A shares, and it continued to meet Hong Kong’s minimum public float requirements, underscoring a stable capital structure and regulatory compliance for shareholders.
The most recent analyst rating on (ZTO) stock is a Buy with a $24.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
In a regulatory filing dated January 5, 2026, ZTO Express reported its monthly return for the period ended December 31, 2025 to the Hong Kong Stock Exchange, detailing no changes in its authorised share capital but a reduction in its issued Class A ordinary shares. The company cancelled 8,940,321 Class A shares on December 24, 2025, corresponding to American depositary shares repurchased on the New York Stock Exchange between late September and November 2025, trimming its Hong Kong-listed Class A share count to 589,428,169 while its Class B and undesignated weighted voting rights shares remained unchanged. ZTO also disclosed that its US$1 billion in 2027 convertible senior notes remained outstanding with no conversions during the month, leaving the potential issuance of additional Class A shares via conversion unchanged, and confirmed that all share-related actions complied with applicable Hong Kong listing and legal requirements, underscoring continued execution of its capital management and buyback strategy.
The most recent analyst rating on (ZTO) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
On December 4, 2025, ZTO Express submitted a monthly return to the Hong Kong Stock Exchange, reporting no changes in its authorized or issued share capital for November 2025. The company maintained its share capital structure with 8 billion Class A ordinary shares and 1 billion Class B ordinary shares, both with a par value of USD 0.0001. Despite repurchasing 8,940,321 Class A shares from the New York Stock Exchange in previous months, these shares are still pending cancellation as of November 30, 2025. This report indicates stability in ZTO Express’s share capital and reflects ongoing share repurchase activities, which may impact shareholder value and market perception.
The most recent analyst rating on (ZTO) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
On November 28, 2025, ZTO Express announced a significant acquisition through its affiliated entity, ZTO Aviation, which agreed to purchase 100% equity interest in Zhejiang Xinglian from ZTO Yun Leng for RMB178,000,000. This acquisition, considered a connected transaction under Hong Kong Listing Rules, will see Zhejiang Xinglian become a subsidiary of ZTO Express, with its financial results consolidated into the Group’s operations. The transaction is expected to enhance ZTO Express’s market positioning by expanding its operational capabilities and integrating Zhejiang Xinglian’s resources.
The most recent analyst rating on (ZTO) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
On November 21, 2025, ZTO Express announced a series of share repurchases that took place between September and November 2025. The company repurchased a significant number of American depository shares, representing Class A ordinary shares, at various prices. These repurchases are part of ZTO Express’s strategy to manage its equity structure and potentially enhance shareholder value. The announcement highlights the company’s ongoing commitment to optimizing its capital allocation and could have implications for its market positioning and investor relations.
The most recent analyst rating on (ZTO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
ZTO Express reported its unaudited financial results for the third quarter of 2025, showing a 9.8% increase in parcel volume to 9.6 billion and a 5.0% rise in adjusted net income to RMB2.5 billion. Despite a complex macro environment, the company continues to focus on quality development and sustainable growth, with a slight adjustment in annual volume guidance reflecting a shift towards healthier industry dynamics.
The most recent analyst rating on (ZTO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
On November 20, 2025, ZTO Express announced a series of share repurchases that took place from September to November 2025, involving American depository shares representing Class A ordinary shares. These repurchases, which were not yet canceled as of the announcement, reflect the company’s strategic financial management, potentially impacting shareholder value and market perception.
The most recent analyst rating on (ZTO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
On November 19, 2025, ZTO Express announced a series of share repurchases, totaling significant amounts of American depository shares, between September and November 2025. These repurchases, which have not yet been canceled, reflect the company’s strategic financial management and potential efforts to enhance shareholder value. The repurchases were conducted at varying prices, indicating a tactical approach to market conditions. This move could impact the company’s financial structure and market perception, potentially increasing investor confidence.
The most recent analyst rating on (ZTO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
On November 18, 2025, ZTO Express announced a series of share repurchases that took place from September to November 2025. These transactions involved the repurchase of American depository shares, representing Class A ordinary shares, at various prices. The repurchase strategy is part of ZTO Express’s efforts to manage its share capital and potentially enhance shareholder value. The company confirmed that all transactions were authorized by the board and complied with regulatory requirements, indicating a strategic move to strengthen its market position and reassure stakeholders.
The most recent analyst rating on (ZTO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
ZTO Express announced a series of share repurchases of its American depository shares between September 24, 2025, and November 14, 2025, as part of its efforts to manage its capital structure. The repurchase program involved multiple transactions, including significant buybacks in October and early November, reflecting the company’s strategic focus on enhancing shareholder value and optimizing its financial position.
The most recent analyst rating on (ZTO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
ZTO Express announced a series of share repurchases between September 24 and November 13, 2025, involving American depository shares representing Class A ordinary shares. These repurchases, which were not yet canceled at the time of reporting, reflect the company’s ongoing efforts to manage its share capital structure. The repurchase activity may have implications for shareholder value and market perception, as it indicates the company’s confidence in its financial position and future prospects.
The most recent analyst rating on (ZTO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
On November 12, 2025, ZTO Express announced a series of share repurchases that took place between September 24 and November 10, 2025. These repurchases involved American depository shares representing Class A ordinary shares, with the company buying back a significant number of shares at varying prices. This strategic move is part of ZTO Express’s efforts to manage its capital structure and potentially enhance shareholder value, reflecting the company’s proactive approach to financial management and market positioning.
The most recent analyst rating on (ZTO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
ZTO Express announced a series of share repurchases, involving American depository shares, between September 24 and November 7, 2025. This strategic move, involving the repurchase of millions of shares at various prices, is part of the company’s efforts to manage its capital structure and potentially enhance shareholder value. The repurchases reflect ZTO’s commitment to optimizing its financial operations and maintaining a robust market position.
The most recent analyst rating on (ZTO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
On November 7, 2025, ZTO Express announced a series of share repurchases that took place between September 24 and November 6, 2025. The company repurchased a total of several million American depository shares, representing Class A ordinary shares, at varying prices. This strategic move is indicative of ZTO Express’s efforts to manage its equity structure and potentially enhance shareholder value. The repurchases were duly authorized by the board and complied with all relevant regulatory requirements.
The most recent analyst rating on (ZTO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
On November 6, 2025, ZTO Express announced changes in its issued shares, maintaining a total of 598,368,490 Class A ordinary shares as of November 5, 2025. The company has been actively repurchasing American depository shares since September 2025, with multiple transactions occurring throughout September and October. These repurchases, which have not yet been canceled, reflect ZTO Express’s strategic financial maneuvers to manage its share structure and potentially enhance shareholder value.
The most recent analyst rating on (ZTO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
On November 5, 2025, ZTO Express announced a series of share repurchases that took place between September 24 and November 4, 2025. These repurchases involved American depository shares, representing Class A ordinary shares, at various prices, with the most recent repurchase occurring on November 4, 2025. This strategic move is part of ZTO Express’s efforts to manage its capital structure and potentially enhance shareholder value, reflecting the company’s ongoing commitment to optimizing its financial operations.
The most recent analyst rating on (ZTO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
On November 4, 2025, ZTO Express announced a series of share repurchases, including the acquisition of 352,872 American depository shares on November 3, 2025. These repurchases, which began on September 24, 2025, are part of the company’s strategic financial management, aiming to optimize its capital structure and enhance shareholder value. The repurchases reflect ZTO Express’s commitment to maintaining a robust financial position and could potentially impact its market valuation positively, signaling confidence in its future growth prospects.
The most recent analyst rating on (ZTO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.
On November 3, 2025, ZTO Express announced a series of share repurchases that took place from September 24 to October 31, 2025. The company repurchased a significant number of American depository shares, representing Class A ordinary shares, with the aim of optimizing its capital structure. This move is expected to enhance shareholder value and reflect the company’s confidence in its long-term growth prospects.
The most recent analyst rating on (ZTO) stock is a Buy with a $21.00 price target. To see the full list of analyst forecasts on ZTO Express stock, see the ZTO Stock Forecast page.