ZTO Class A ZTO Express (Cayman) Inc. American Depositary Shares, each representing one Class A ordinary share.
NYSE · Logistics & Transportation · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Apr 17, 2026ZTO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
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About ZTO Express (Cayman) Inc. American Depositary Shares, each representing one Class A ordinary share. Company overview from Wikipedia
ZTO Express (ZTO; Chinese: 中通快递; pinyin: Zhōngtōng Kuàidì) is a Chinese logistics company based in headquartered in Shanghai. It is one of the largest couriers services in China. It is dual listed on the New York Stock Exchange (NYSE) and as well as the Hong Kong Stock Exchange (SEHK).
## Background
ZTO was founded in 2002 by Lai Meisong, a native of Tonglu County which produced the founders of several Chinese Logistics companies including STO Express, Yunda Express and YTO Express. Lai had previously dropped out of high school to work at STO Express where he became a veteran in the logistics industry.
In October 2016, ZTO held its initial public offering (IPO) and became a publicly listed company on the NYSE. This was different from its domestic peers from Tonglu where they chose to do a backdoor listing in China instead. It was speculated that an IPO would allow new shareholders to cash out more easily and for Lai to retain control of the company while siphoning some of his fortune into a developed market. The IPO was the largest in 2016 raising US$1.4 billion. ZTO was said to have benefitted from the "Alibaba effect" due to the latter's success. ZTO had partnered with Alibaba and 70% of its business came from it.
Despite the success of the IPO, since the start of trading ZTO shares declined. By July 2017, the share price was 20% under its IPO price. Birmingham Retirement and Relief System sued ZTO as well as its underwriters, Goldman Sachs and Morgan Stanley. The lawsuit claimed they inflated profit margins in the offering documents to exceed industry peers and lure investors. On 17 July 2019, the court ruled in favour of ZTO by dismissing the case. It ruled the investors did not sufficiently allege ZTO misled them.
In May 2018, Alibaba and Cainiao bought 10% of ZTO for US$1.38 billion in an effort to expand their logistics network. ZTO share prices surged 14% as a result.
In September 2020, ZTO held a secondary listing on the SEHK raising US$1.27 billion.
In May 2021, ZTO came under fire after one of its business outlets in Chengdu was found to have transported puppies and kittens as part of the controversial pet blind box sales on e-commerce sites. ZTO apologized for collecting live animals from e-retailers for shipment, which it said breached rules. In response it shut down the outlet in question.
In August 2022, ZTO raised US$870 million through a convertible bond offering. It came less than a day after ZTO said in a SEHK announcement that it had no intention to carry out fundraising after a proposed transaction was flagged in its unaudited first-half results filed to the U.S. regulators.
In December 2022, ZTO application to convert its Hong Kong listing from "secondary" to "primary" was approved and would be effective from 1 May 2023 onwards.
In March 2026, ZTO Express entered into a strategic partnership with Hungary Airlines to significantly expand air freight capacities between China and Hungary. Within the framework of this cooperation, an Airbus A330 freighter was put into service, which arrived at its Budapest hub on 24 April 2026.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | ZTO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | 1.75Y avg ≈2.8 | ≈2.8 | · | · | |
| P/S | 0.35Y avg ≈0.5 | ≈0.5 | · | · | |
| P/B | 0.25Y avg ≈0.3 | ≈0.3 | · | · | |
| EV / EBITDA | 0.15Y avg ≈0.7 | ≈0.7 | · | · | |
| Price / FCF | 2.35Y avg ≈-1.5 | ≈-1.5 | · | · | |
| Price / Cash Flow | 1.35Y avg ≈1.8 | ≈1.8 | · | · | |
| EV / Revenue | 0.05Y avg ≈0.2 | ≈0.2 | · | · | |
| EV / FCF | 0.15Y avg ≈-1.7 | ≈-1.7 | · | · | |
| Price / Tangible Book | 0.25Y avg ≈0.4 | ≈0.4 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | ZTO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin | 25.0%5Y avg ≈26.7% | ≈26.7% | · | · | |
| Operating Margin | 21.3%5Y avg ≈22.8% | ≈22.8% | · | · | |
| EBITDA Margin | 28.2%5Y avg ≈30.0% | ≈30.0% | · | · | |
| Pretax Margin | 22.5%5Y avg ≈23.8% | ≈23.8% | · | · | |
| Net Profit Margin | 18.5%5Y avg ≈19.2% | ≈19.2% | · | · | |
| ROA | 9.9%5Y avg ≈9.5% | ≈9.5% | · | · | |
| ROE | 14.1%5Y avg ≈13.4% | ≈13.4% | · | · | |
| ROIC | 11.2%5Y avg ≈11.0% | ≈11.0% | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | ZTO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity | 0.25Y avg ≈0.1 | ≈0.1 | · | · | |
| Current Ratio | 1.55Y avg ≈1.4 | ≈1.4 | · | · | |
| Quick Ratio | 1.25Y avg ≈1.0 | ≈1.0 | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | ZTO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.55Y avg ≈0.5 | ≈0.5 | · | · | |
| Inventory Turnover | 929.85Y avg ≈680.7 | ≈680.7 | · | · | |
| Receivables Turnover | 35.25Y avg ≈41.9 | ≈41.9 | · | · | |
| Revenue / Employee | ≈$2.1M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Apr 8, 2026 | $0.39 | USD | ≈1.6% |
| Apr 10, 2025 | $0.35 | USD | ≈4.0% |
| Sep 10, 2024 | $0.35 | USD | ≈4.5% |
| Apr 9, 2024 | $0.62 | USD | ≈3.0% |
| Apr 5, 2023 | $0.37 | USD | ≈1.3% |
| Apr 7, 2022 | $0.25 | USD | ≈0.98% |
| Apr 7, 2021 | $0.25 | USD | ≈0.88% |
| Apr 7, 2020 | $0.30 | USD | ≈1.1% |
| Mar 29, 2019 | $0.24 | USD | ≈1.3% |
| Mar 22, 2018 | $0.20 | USD | ≈1.3% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | $3.78 | $3.60 | 5.0% | |
| March 31, 2026 | $2.93 | — | — | |
| Dec. 31, 2025 | $3.31 | $3.34 | -0.76% | |
| Sept. 30, 2025 | $3.10 | $2.41 | 28.8% | |
| June 30, 2025 | $2.37 | $2.94 | -19.3% | |
| March 31, 2025 | $3.31 | $3.34 | -0.76% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $49.10B | $44.28B | $38.42B | $35.38B | $30.41B | $25.21B | $22.11B | $17.60B | $13.06B | $9.79B | $6.09B | |
| Cost of Revenue | $36.83B | $30.56B | $26.76B | $26.34B | $23.82B | $19.38B | $15.49B | $12.24B | $8.71B | $6.35B | $4.00B | |
| Gross Profit | $12.27B | $13.72B | $11.66B | $9.04B | $6.59B | $5.84B | $6.62B | $5.36B | $4.35B | $3.44B | $2.09B | |
| SG&A Expense | $2.64B | $2.69B | $2.43B | $2.08B | $1.88B | $1.66B | $1.55B | $1.21B | $781M | $706M | $592M | |
| Operating Expenses | $1.80B | $1.94B | $1.65B | $1.30B | $1.09B | $1.08B | $1.16B | $1.03B | $597M | $674M | $558M | |
| Operating Income | $10.47B | $11.78B | $10.01B | $7.74B | $5.50B | $4.75B | $5.46B | $4.33B | $3.75B | $2.77B | $1.53B | |
| Interest Expense | · | · | $290M | $191M | $127M | $35M | · | $780.0K | $16M | $13M | $16M | |
| Interest Income | $529M | $657M | $400M | $209M | $213M | $330M | $433M | $307M | $74M | · | · | |
| Pretax Income | $11.05B | $11.68B | $10.69B | $8.29B | $5.74B | $5.03B | $6.76B | $5.34B | $3.82B | $2.82B | $1.75B | |
| Income Tax | $1.91B | $2.85B | $1.94B | $1.63B | $1.01B | $690M | $1.08B | $929M | $646M | $732M | $420M | |
| Net Income | $9.08B | $8.82B | $8.75B | $6.81B | $4.75B | $4.31B | $5.67B | $4.38B | $3.16B | $2.05B | $1.33B | |
| EPS (Basic) | $11.38 | $10.95 | $10.83 | $8.41 | $5.80 | $5.42 | $7.24 | $5.83 | $4.41 | $2.91 | $2.15 | |
| EPS (Diluted) | $11.19 | $10.70 | $10.60 | $8.36 | $5.80 | $5.42 | $7.23 | $5.82 | $4.40 | $2.91 | $2.15 | |
| Shares (Basic) | 797,634,860 | 804,875,816 | 807,739,616 | 809,442,862 | 819,961,265 | 796,097,532 | 784,007,583 | 751,814,077 | 717,138,526 | 634,581,307 | 599,373,273 | |
| Shares (Diluted) | 820,802,763 | 838,441,916 | 838,948,683 | 820,273,531 | 819,961,265 | 796,147,504 | 784,331,120 | 752,672,956 | 717,599,562 | 634,581,307 | 599,373,273 | |
| EBITDA | $13.85B | $14.80B | $12.88B | $10.41B | $7.72B | $6.59B | $6.73B | $5.19B | $4.31B | $3.09B | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $10.01B | $13.47B | $12.33B | $11.69B | $9.72B | $14.21B | $5.27B | $4.62B | $5.43B | $11.29B | $2.45B | |
| Short-term Investments | $15.62B | $8.85B | $7.45B | $5.75B | $2.85B | $3.69B | $11.11B | $13.60B | $5.22B | · | · | |
| Receivables | $1.29B | $1.50B | $573M | $819M | $933M | $746M | $676M | $597M | $288M | $198M | $58M | |
| Inventory | $41M | $39M | $28M | $41M | $83M | $53M | $44M | $44M | $34M | $34M | $16M | |
| Prepaid Expense | $5.10B | $4.33B | $3.77B | $3.15B | $3.14B | $2.33B | $1.96B | $1.51B | $720M | $379M | $212M | |
| Other Current Assets | $795M | $638M | $726M | $400M | $462M | $376M | $293M | $257M | $109M | $97M | · | |
| Current Assets | $33.96B | $30.35B | $26.95B | $24.48B | $18.67B | $22.32B | $20.10B | $21.23B | $12.38B | $13.19B | $3.44B | |
| PP&E (Net) | $35.43B | $33.92B | $32.18B | $28.81B | $24.93B | $18.57B | $12.47B | $9.04B | $6.47B | $4.07B | $1.75B | |
| PP&E (Gross) | $51.15B | $47.18B | $43.17B | $37.57B | $31.40B | $23.12B | $15.32B | $10.75B | $7.45B | $4.57B | $1.95B | |
| Accum. Depreciation | $15.69B | $13.24B | $10.92B | $8.76B | $6.47B | $4.55B | $2.85B | $1.71B | $975M | $500M | $195M | |
| Goodwill | $4.16B | $4.24B | $4.24B | $4.24B | $4.24B | $4.24B | $4.24B | $4.24B | $4.24B | $4.16B | $4.09B | |
| Intangibles | $53M | $17M | $23M | $29M | $36M | $42M | $48M | $54M | $60M | $1.30B | $821M | |
| Other Non-current Assets | $939M | $919M | $702M | $817M | $762M | $537M | $612M | $623M | $309M | $46M | $21M | |
| Total Assets | $91.02B | $92.34B | $88.47B | $78.52B | $62.77B | $59.20B | $45.89B | $39.68B | $25.83B | $23.40B | $10.58B | |
| Accrued Liabilities | · | · | · | $345M | $200M | $223M | $84M | · | · | · | · | |
| Short-term Debt | $10.93B | $9.51B | $7.77B | $5.39B | $3.46B | $1.43B | · | · | $250M | $450M | $300M | |
| Current Liabilities | $22.87B | $28.27B | $20.06B | $16.41B | $13.00B | $9.35B | $6.68B | $5.14B | $4.15B | $3.52B | $2.65B | |
| Capital Leases | $261M | $378M | $456M | $510M | $556M | $502M | $504M | · | · | · | · | |
| Deferred Tax | $615M | $1.01B | $638M | $346M | $292M | $255M | $208M | $158M | $157M | $131M | $85M | |
| Other Non-current Liabilities | · | · | · | · | · | · | $94M | $91M | $60M | · | · | |
| Total Liabilities | $23.89B | $29.67B | $28.18B | $24.05B | $13.84B | $10.11B | $7.49B | $5.41B | $4.39B | $3.65B | $2.74B | |
| Total Debt | $10.93B | $9.51B | $7.77B | $5.39B | $3.46B | $1.43B | · | · | $250M | $450M | · | |
| Common Stock | $513.0K | $523.0K | $525.0K | $535.0K | $535.0K | $553.0K | $517.0K | $523.0K | $471.0K | $471.0K | $390.0K | |
| Retained Earnings | $42.92B | $39.10B | $36.30B | $29.46B | $22.72B | $21.04B | $16.73B | $11.05B | $6.67B | $3.51B | $1.59B | |
| Treasury Stock | $254M | $1.13B | $511M | $2.06B | $2.07B | $2.58B | $1.44B | $1.55B | $915M | · | · | |
| AOCI | $-281M | $-295M | $-191M | $-87M | $-242M | $-96M | $676M | $572M | $-296M | $295M | $-14M | |
| Stockholders' Equity | $66.38B | $62.06B | $59.80B | $54.03B | $48.64B | $48.98B | $38.30B | $34.22B | $21.44B | $19.75B | $5.86B | |
| Liabilities + Equity | $91.02B | $92.34B | $88.47B | $78.52B | $62.77B | $59.20B | $45.89B | $39.68B | $25.83B | $23.40B | $10.58B | |
| Shares Outstanding | 790,812,316 | 798,622,719 | 804,719,252 | 809,247,109 | 808,448,289 | 828,869,972 | 781,947,464 | 785,463,859 | · | · | 600,000,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $3.38B | $3.02B | $2.88B | $2.67B | $2.22B | $1.84B | $1.26B | $854M | $560M | $325M | $158M | |
| Stock-based Comp | $229M | $319M | $255M | $179M | $248M | $264M | $317M | $249M | $41M | $123M | $117M | |
| Deferred Tax | $-536M | $293M | $158M | $245M | $-192M | $-272M | $-41M | $-139M | $-29M | $-31M | $5M | |
| Other Non-cash | $-185M | $-1.02B | $1.32B | $1.58B | $188M | $-1.19B | $-911M | $-943M | $-101M | $66M | · | |
| Operating Cash Flow | $11.97B | $11.43B | $13.36B | $11.48B | $7.22B | $4.95B | $6.30B | $4.40B | $3.63B | $2.57B | $2.13B | |
| CapEx | $5.21B | $5.21B | $6.53B | $7.07B | $8.36B | $7.24B | $4.64B | $3.32B | $2.57B | $1.99B | $1.06B | |
| Investing Cash Flow | $-4.83B | $-5.98B | $-12.25B | $-16.04B | $-8.76B | $-3.55B | $-3.66B | $-12.87B | $-8.29B | $-3.09B | $-1.45B | |
| Debt Issued | $216M | · | · | · | · | · | · | · | · | · | · | |
| Net Debt Issued | $216M | · | · | · | · | · | · | · | · | · | · | |
| Stock Issued | · | · | · | · | · | $9.77B | · | $8.89B | · | $9.18B | · | |
| Stock Repurchased | $1.25B | $1.16B | $1.01B | $85M | $3.81B | $1.23B | $763M | $770M | $858M | · | · | |
| Net Stock Activity | $-1.25B | $-1.16B | $-1.01B | $-85M | $-3.81B | $8.54B | $-763M | $8.12B | $-858M | $9.18B | · | |
| Dividends Paid | $3.76B | $5.61B | $2.07B | $1.32B | $1.35B | $1.65B | $1.27B | $895M | · | · | $115M | |
| Financing Cash Flow | $-10.57B | $-5.00B | $-770M | $7.06B | $-2.90B | $8.34B | $-1.98B | $7.04B | $-1.06B | $9.42B | $1.87B | |
| Net Change in Cash | $-3.48B | $480M | $448M | $2.83B | $-4.59B | $9.08B | $654M | $-1.15B | $-6.15B | $9.20B | $2.56B | |
| Free Cash Flow | $6.75B | $6.22B | $6.83B | $4.41B | $-1.14B | $-2.29B | $1.67B | $1.08B | $1.06B | $550M | · | |
| Levered FCF | · | · | $6.60B | $4.26B | $-1.24B | $-2.32B | · | $1.08B | $1.05B | $541M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.0% | 31.0% | 30.4% | 25.6% | 21.7% | 23.2% | 29.9% | 30.5% | 33.3% | 35.2% | · | |
| Operating Margin | 21.3% | 26.6% | 26.1% | 21.9% | 18.1% | 18.9% | 24.7% | 24.6% | 28.7% | 28.3% | · | |
| Net Margin | 18.5% | 19.9% | 22.8% | 19.2% | 15.6% | 17.1% | 25.7% | 24.9% | 24.2% | 21.0% | · | |
| Pretax Margin | 22.5% | 26.4% | 27.8% | 23.4% | 18.9% | 20.0% | 30.6% | 30.3% | 29.3% | 28.8% | · | |
| EBITDA Margin | 28.2% | 33.4% | 33.5% | 29.4% | 25.4% | 26.2% | 30.4% | 29.5% | 33.0% | 31.6% | · | |
| ROA | 9.9% | 9.8% | 10.5% | 9.6% | 7.8% | 8.2% | 13.3% | 13.4% | 12.8% | 12.1% | · | |
| ROE | 14.1% | 14.5% | 15.4% | 13.3% | 9.7% | 9.9% | 15.7% | 15.8% | 15.3% | 16.0% | · | |
| ROIC | 11.2% | 12.4% | 12.1% | 10.4% | 8.7% | 8.1% | 12.0% | 10.5% | 14.4% | 10.2% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.5 | 1.1 | 1.3 | 1.5 | 1.4 | 2.4 | 3.0 | 4.1 | 3.0 | 3.7 | · | |
| Quick Ratio | 1.2 | 0.8 | 1.0 | 1.1 | 1.0 | 2.0 | 2.6 | 3.7 | 2.6 | 3.3 | · | |
| Debt / Equity | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0.0 | · | · | 0.0 | 0.0 | · | |
| Interest Coverage | · | · | 34.6 | 40.6 | 43.5 | 134.7 | · | 5554.1 | 239.2 | 213.2 | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.6 | · | |
| Inventory Turnover | 929.8 | 917.2 | 779.9 | 426.5 | 350.2 | 399.9 | 353.4 | 313.7 | 255.6 | 255.5 | · | |
| Receivables Turnover | 35.2 | 42.7 | 55.2 | 40.4 | 36.2 | 35.5 | 34.7 | 39.8 | 53.8 | 76.4 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $83.94 | $77.71 | $74.31 | $66.76 | $60.16 | $59.09 | $48.98 | · | · | · | · | |
| Revenue / Share | $59.82 | $52.81 | $45.79 | $43.13 | $37.08 | $31.67 | $28.19 | $23.39 | $18.20 | $15.43 | · | |
| Cash Flow / Share | $14.58 | $13.63 | $15.93 | $13.99 | $8.81 | $6.22 | $8.04 | $5.85 | $5.06 | $4.00 | · | |
| Cash / Share | $12.66 | $16.86 | $15.33 | $14.45 | $12.02 | $17.15 | $6.74 | · | · | · | · | |
| EPS (TTM) | $11.19 | $10.70 | $10.60 | $8.36 | $5.80 | $5.42 | $7.23 | $5.82 | $4.40 | $2.91 | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $49.10B | $44.28B | $38.42B | $35.38B | $30.41B | $25.21B | $22.11B | $17.60B | $13.06B | $9.79B | · | |
| Net Income TTM | $9.08B | $8.82B | $8.75B | $6.81B | $4.75B | $4.31B | $5.67B | $4.38B | $3.16B | $2.05B | · | |
| Market Cap | $16.52B | $15.61B | $17.12B | $21.74B | $22.81B | $24.17B | $18.26B | · | · | · | · | |
| Enterprise Value | $1.82B | $2.81B | $5.10B | $9.69B | $13.71B | $7.70B | · | · | · | · | · | |
| P/E | 1.9 | 1.8 | 2.0 | 3.2 | 4.9 | 5.4 | 3.2 | 2.7 | 3.6 | 4.1 | · | |
| P/S | 0.3 | 0.4 | 0.4 | 0.6 | 0.8 | 1.0 | 0.8 | · | · | · | · | |
| P/B | 0.2 | 0.3 | 0.3 | 0.4 | 0.5 | 0.5 | 0.5 | · | · | · | · | |
| P / Tangible Book | 0.3 | 0.3 | 0.3 | 0.4 | 0.5 | 0.5 | · | · | · | · | · | |
| P / Cash Flow | 1.4 | 1.4 | 1.3 | 1.9 | 3.2 | 4.9 | 2.9 | · | · | · | · | |
| P / FCF | 2.4 | 2.5 | 2.5 | 4.9 | -20.0 | -10.6 | 10.9 | · | · | · | · | |
| EV / EBITDA | 0.1 | 0.2 | 0.4 | 0.9 | 1.8 | 1.2 | · | · | · | · | · | |
| EV / FCF | 0.3 | 0.5 | 0.7 | 2.2 | -12.0 | -3.4 | · | · | · | · | · | |
| EV / Revenue | 0.0 | 0.1 | 0.1 | 0.3 | 0.5 | 0.3 | · | · | · | · | · | |
| Dividend Yield | 22.7% | 35.9% | 12.1% | 6.1% | 5.9% | 6.8% | 7.0% | · | · | · | · | |
| Earnings Yield | 53.6% | 54.7% | 49.8% | 31.1% | 20.5% | 18.6% | 31.0% | 36.8% | 27.8% | 24.1% | · | |
| Payout Ratio | 41.4% | 63.6% | 23.7% | 19.4% | 28.5% | 38.2% | 22.4% | 20.4% | · | · | · | |
| Annual Payout | $3.76B | $5.61B | $2.07B | $1.32B | $1.35B | $1.65B | $1.27B | $895M | · | · | · |
We don't have SEC filings for this ticker yet.
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $49.10B | $44.28B | $38.42B | $35.38B | $30.41B |
| Gross Margin % | 25.0% | 31.0% | 30.4% | 25.6% | 21.7% |
| Operating Margin % | 21.3% | 26.6% | 26.1% | 21.9% | 18.1% |
| Net Income | $9.08B | $8.82B | $8.75B | $6.81B | $4.75B |
| Diluted EPS | $11.19 | $10.70 | $10.60 | $8.36 | $5.80 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 |
| Current Ratio | 1.5 | 1.1 | 1.3 | 1.5 | 1.4 |
| Quick Ratio | 1.2 | 0.8 | 1.0 | 1.1 | 1.0 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $6.75B | $6.22B | $6.83B | $4.41B | $-1.14B |
Institutional owners (13F) 219 filers · $1.5B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 41 (-6 vs prior Q) | 21 (+3 vs prior Q) | 66 (-16 vs prior Q) | 67 (+25 vs prior Q) | +472K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| PZENA INVESTMENT MANAGEMENT LLC | $163,873,768 | 7,322,331 | 11.06% | Shares |
| GOLDMAN SACHS GROUP INC | $118,278,967 | 5,285,030 | 7.98% | Shares |
| SERENITY CAPITAL MANAGEMENT PTE. LTD. | $113,175,369 | 5,056,987 | 7.64% | Shares |
| Serenity Capital LLC | $100,330,622 | 5,056,987 | 6.77% | Shares |
| Temasek Holdings (Private) Ltd | $92,817,134 | 4,147,325 | 6.26% | Shares |
| MORGAN STANLEY | $92,433,850 | 4,130,197 | 6.24% | Shares |
| Fisher Asset Management, LLC | $78,317,107 | 3,499,424 | 5.29% | Shares |
| PLATINUM INVESTMENT MANAGEMENT LTD | $44,628,562 | 1,994,127 | 3.01% | Shares |
| MACKENZIE FINANCIAL CORP | $42,857,633 | 1,914,997 | 2.89% | Shares |
| TODD ASSET MANAGEMENT LLC | $42,321,888 | 1,891,052 | 2.86% | Shares |
| MARSHALL WACE, LLP | $39,000,595 | 1,742,654 | 2.63% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $32,824,486 | 1,467,205 | 2.22% | Shares |
| Legal & General Group Plc | $30,164,770 | 1,346,942 | 2.04% | Shares |
| UBS Group AG | $28,162,544 | 1,258,380 | 1.90% | Call option |
| CITADEL ADVISORS LLC | $24,543,788 | 1,096,684 | 1.66% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $22,977,412 | 1,026,694 | 1.55% | Shares |
| Point72 Asset Management, L.P. | $21,912,549 | 979,113 | 1.48% | Shares |
| STATE STREET CORP | $21,246,789 | 949,365 | 1.43% | Shares |
| AMERICAN CENTURY COMPANIES INC | $19,863,884 | 887,573 | 1.34% | Shares |
| JANE STREET GROUP, LLC | $18,201,654 | 813,300 | 1.23% | Put option |
| CITIGROUP INC | $16,729,184 | 747,506 | 1.13% | Shares |
| JPMORGAN CHASE & CO | $16,298,663 | 734,836 | 1.10% | Shares |
| Crossmark Global Holdings, Inc. | $15,934,877 | 712,014 | 1.08% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $14,581,958 | 651,562 | 0.98% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $13,154,964 | 587,800 | 0.89% | Put option |
| UBS Group AG | $12,441,692 | 555,929 | 0.84% | Shares |
| State of New Jersey Common Pension Fund D | $11,393,479 | 509,092 | 0.77% | Shares |
| Portman Square Capital LLP | $11,049,006 | 493,700 | 0.75% | Put option |
| Russell Investments Group, Ltd. | $10,421,977 | 466,340 | 0.70% | Shares |
| BlackRock, Inc. | $10,140,227 | 453,093 | 0.68% | Shares |
| Qube Research & Technologies Ltd | $9,215,838 | 411,789 | 0.62% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $9,099,708 | 406,600 | 0.61% | Shares |
| BANK OF AMERICA CORP /DE/ | $8,580,403 | 383,396 | 0.58% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $6,913,674 | 308,922 | 0.47% | Shares |
| JANE STREET GROUP, LLC | $6,741,035 | 301,208 | 0.45% | Shares |
| SIH Partners, LLLP | $6,643,503 | 296,850 | 0.45% | Shares |
| Quantinno Capital Management LP | $6,541,902 | 292,310 | 0.44% | Shares |
| ICON ADVISERS INC/CO | $5,818,800 | 260,000 | 0.39% | Shares |
| HSBC HOLDINGS PLC | $5,793,345 | 258,869 | 0.39% | Shares |
| AVIVA PLC | $5,779,545 | 258,246 | 0.39% | Shares |
| Virtus Family Office LLC | $5,061,645 | 226,163 | 0.34% | Shares |
| Walleye Trading LLC | $5,039,976 | 225,200 | 0.34% | Call option |
| Mitsubishi UFJ Trust & Banking Corp | $4,605,267 | 205,776 | 0.31% | Shares |
| NATIONAL BANK OF CANADA /FI/ | $4,476,000 | 200,000 | 0.30% | Shares |
| JANE STREET GROUP, LLC | $4,368,576 | 195,200 | 0.29% | Call option |
| SILVERCREST ASSET MANAGEMENT GROUP LLC | $3,995,971 | 178,551 | 0.27% | Shares |
| SEI INVESTMENTS CO | $3,994,935 | 178,503 | 0.27% | Shares |
| Walleye Trading LLC | $3,844,884 | 171,800 | 0.26% | Put option |
| STOREBRAND ASSET MANAGEMENT AS | $3,797,908 | 169,701 | 0.26% | Shares |
| XTX Topco Ltd | $3,642,524 | 162,758 | 0.25% | Shares |
Company insiders 7 insiders · 7 officers · 3 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Meisong Lai | Chief Executive Officer | March 23, 2026 M | 332,461 | 0 | 0 | $0 |
| Huiping Yan | Chief Financial Officer | March 23, 2026 M | 33,324 | 0 | 0 | $0 |
| Jingxi Zhu | President | March 23, 2026 M | 480,698 | 0 | 0 | $0 |
| Hongqun Hu | Chief Operating Officer | March 23, 2026 M | 31,448 | 0 | 0 | $0 |
| Jianfeng Zhang | VP of Public Relations | March 23, 2026 M | 13,732 | 0 | 0 | $0 |
| Jianchang Lai | VP of Overseas Operations | March 23, 2026 M | 21,082 | 0 | 0 | $0 |
| Jilei Wang | VP of Infrastr. Mgmt. | March 23, 2026 M | 28,646 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 7 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PGJ · Invesco Exchange-Traded Fund Trust | 2.30% | 100,133 SH | Oct. 1, 2026 | Daily |
| TIIV · ETF Series Solutions | 1.36% | 18,612 NS | July 31, 2026 | N-PORT |
| CZA · Invesco Exchange-Traded Fund Trust | 0.58% | 50,523 SH | Oct. 1, 2026 | Daily |
| DFAX · Dimensional ETF Trust | 0.01% | 51,064 NS | July 31, 2026 | N-PORT |
| DFEM · Dimensional ETF Trust | 0.00% | 9,300 NS | July 31, 2026 | N-PORT |
| DFAE · Dimensional ETF Trust | 0.00% | 7,500 NS | July 31, 2026 | N-PORT |
| DFSE · Dimensional ETF Trust | 0.00% | 450 NS | July 31, 2026 | N-PORT |
ZTO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
18 analysts · 2026-10-01Mean target $27.79 +42.5%
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