ZTO · XBRL financial data

ZTO Express (Cayman) financial statements, every quarter

The same tables from 10 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal quarters (ZTO's year ends in late December)

In millions of CNY	Q4 FY16Dec 31, 2016	Q4 FY17Dec 31, 2017	Q4 FY18Dec 31, 2018	Q4 FY19Dec 31, 2019	Q4 FY20Dec 31, 2020	Q4 FY21Dec 31, 2021	Q4 FY22Dec 31, 2022	Q4 FY23Dec 31, 2023	Q4 FY24Dec 31, 2024	Q4 FY25Dec 31, 2025
Cost of revenue	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Selling, general and administrative	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Total operating expenses	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Operating income (loss)	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Interest income	—	year only	year only	year only	year only	year only	year only	year only	year only	year only
Interest expense	year only	year only	year only	—	year only	year only	year only	year only	year only	year only
Income tax expense (benefit)	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Net income (loss)	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only

Balance sheet

CSV

Fiscal quarters (ZTO's year ends in late December)

In millions of CNY	Q4 FY16Dec 31, 2016	Q4 FY17Dec 31, 2017	Q4 FY18Dec 31, 2018	Q4 FY19Dec 31, 2019	Q4 FY20Dec 31, 2020	Q4 FY21Dec 31, 2021	Q4 FY22Dec 31, 2022	Q4 FY23Dec 31, 2023	Q4 FY24Dec 31, 2024	Q4 FY25Dec 31, 2025
Cash and cash equivalents	11,288	5,425	4,623	5,270	14,213	9,721	11,693	12,334	13,465	10,012
Short-term investments	—	5,225	13,600	11,113	3,690	2,845	5,753	7,455	8,848	15,621
Accounts receivable	198	288	597	676	746	933	819	573	1,504	1,287
Inventory	34	34	44	44	53	83	41	28	39	41
Prepaid and other current assets	379	720	1,508	1,965	2,335	3,142	3,146	3,772	4,330	5,103
Total current assets	13,186	12,378	21,234	20,098	22,325	18,666	24,475	26,954	30,354	33,965
Property and equipment, net	4,066	6,473	9,036	12,471	18,565	24,930	28,813	32,181	33,915	35,434
Right-of-use asset	—	—	—	902	876	897	809	672	566	398
Goodwill	4,157	4,242	4,242	4,242	4,242	4,242	4,242	4,242	4,242	4,157
Total assets	23,404	25,828	39,683	45,891	59,205	62,772	78,524	88,465	92,340	91,024
Accrued liabilities	—	—	—	84	223	200	345	—	—	—
Total current liabilities	3,522	4,146	5,141	6,681	9,348	12,996	16,405	20,061	28,273	22,869
Lease liability, non-current	—	—	—	504	502	556	510	456	378	261
Total liabilities	3,653	4,386	5,413	7,487	10,105	13,845	24,051	28,185	29,665	23,888
Retained earnings	3,510	6,669	11,052	16,727	21,039	22,717	29,459	36,301	39,099	42,919
Total stockholders' equity	19,745	21,435	34,217	38,303	48,979	48,637	54,029	59,802	62,062	66,384
Total liabilities and equity	23,404	25,828	39,683	45,891	59,205	62,772	78,524	88,465	92,340	91,024
Common shares outstanding (cover page) millions of shares	—	—	785	782	829	808	809	805	799	791

Cash flows

CSV

Fiscal quarters (ZTO's year ends in late December)

In millions of CNY	Q4 FY16Dec 31, 2016	Q4 FY17Dec 31, 2017	Q4 FY18Dec 31, 2018	Q4 FY19Dec 31, 2019	Q4 FY20Dec 31, 2020	Q4 FY21Dec 31, 2021	Q4 FY22Dec 31, 2022	Q4 FY23Dec 31, 2023	Q4 FY24Dec 31, 2024	Q4 FY25Dec 31, 2025
Net income (loss)	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Stock-based compensation	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Depreciation and amortization	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Net cash from operating activities	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Purchases of property and equipment	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Net cash from investing activities	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Proceeds from issuing common stock	year only	—	year only	—	year only	—	—	—	—	—
Share repurchases	—	year only	year only	year only	year only	year only	year only	year only	year only	year only
Dividends paid	—	—	year only	year only	year only	year only	year only	year only	year only	year only
Proceeds from long-term debt millions of USD	—	—	—	—	—	—	—	—	—	year only
Net cash from financing activities	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only
Net change in cash	year only	year only	year only	year only	year only	year only	year only	year only	year only	year only

Compare with peers

SIC 4210 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 4210 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.
A cell reading “year only” links to a 10-K that gives only the full year: without all three earlier quarters there is no fourth quarter to work out, and the year total is never shown as a quarter.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Runway	Quarter
ZTO Express (Cayman)	10,012	not reported	year only	790.8M	—	Q4 FY25 20-FDec 31, 2025
Elite Express Holding	3	0.8	(0.4)*	48.7M	1.9 quarters	Q3 FY26 10-QAug 31, 2026
BingEx	561	year only	year only	219.4M	—	Q4 FY25 20-FDec 31, 2025
Haoxin Holdings	1.4	year only	year only	not reported	—	Q4 FY25 20-FDec 31, 2025
Shengfeng Development	35	year only	year only	not reported	—	Q4 FY25 20-FDec 31, 2025
TFI International	210	year only	year only	84.4M	—	Q4 FY25 40-FDec 31, 2025
Toppoint Holdings	4.7	4.6	(0.1)*	24.7M	36.8 quarters	Q2 FY26 10-QJun 30, 2026
Tracx Logis	not reported	not reported	not reported	not reported	—	—
United Parcel Service	4,653	22,834	859*	not reported	—	Q2 FY26 10-QJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.