ZTO Express (Cayman) Inc.
NYSE:ZTO · New York Stock Exchange
-$0.24 today
Vol 1.16M · Avg 1.69M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Stock Ticker Earnings Waterfall
NYSE:ZTO · Revenue to Net Income
Key Ratios
Analysis
$51.2B of revenue converted into $9.2B of net income for the selected period. Gross margin is 24.9% and net margin is 17.9%, showing how much revenue survives after costs and taxes. EPS is $11.44, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $47.8B +7.9% | $44.3B +15.3% | $38.4B +8.6% | $35.4B +16.3% | $30.4B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $35.8B +17.2% | $30.6B +14.2% | $26.8B +1.6% | $26.3B +10.6% | $23.8B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $11.9B -13.0% | $13.7B +17.6% | $11.7B +29.0% | $9.0B +37.2% | $6.6B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 25.0% -6.0pp | 31.0% +0.6pp | 30.4% +4.8pp | 25.6% +3.9pp | 21.7% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $0 -100.0% | $2.7B +10.9% | $2.4B +16.7% | $2.1B +10.7% | $1.9B | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $2.6B +32.2% | $1.9B +17.3% | $1.7B +27.0% | $1.3B +19.9% | $1.1B | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $3.3B +8.7% | $3.0B +5.2% | $2.9B +7.7% | $2.7B +20.2% | $2.2B | $374.2M | $1.2B | $631.8M |
| EBITDA | $14.4B -4.5% | $15.0B +8.5% | $13.9B +24.3% | $11.1B +37.8% | $8.1B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 30.1% -3.9pp | 34.0% -2.1pp | 36.1% +4.5pp | 31.5% +4.9pp | 26.6% | 5.6% | 46.3% | 42.0% |
| Operating Income | $9.4B -20.4% | $11.8B +17.7% | $10.0B +29.4% | $7.7B +40.6% | $5.5B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 19.6% -7.0pp | 26.6% +0.5pp | 26.0% +4.2pp | 21.9% +3.8pp | 18.1% | 16.6% | 24.1% | 22.0% |
| Interest Income | $726.7M -26.9% | $993.5M +40.6% | $706.8M +40.3% | $503.7M +38.4% | $363.9M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $241.8M -28.4% | $337.9M +16.7% | $289.5M +52.0% | $190.5M +50.6% | $126.5M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | $1.5B +3439.1% | -$43.9M -106.4% | $685.1M +23.3% | $555.8M +172.8% | $203.8M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $10.8B -7.6% | $11.7B +9.7% | $10.7B +29.0% | $8.3B +45.3% | $5.7B | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 22.7% -3.8pp | 26.5% -1.3pp | 27.8% +4.4pp | 23.4% +4.7pp | 18.8% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $1.9B -34.9% | $2.8B +46.8% | $1.9B +18.7% | $1.6B +62.4% | $1.0B | $1.3B | -$1.6B | $745.2M |
| Net Income | $8.8B +0.2% | $8.8B +0.8% | $8.7B +28.5% | $6.8B +43.2% | $4.8B | $4.9B | $4.8B | $4.7B |
| Net Margin | 18.5% -1.4pp | 19.9% -2.9pp | 22.8% +3.5pp | 19.2% +3.6pp | 15.6% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $11 +0.9% | $11 +1.1% | $11 +28.8% | $8 +45.0% | $6 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $11 +2.0% | $11 +0.9% | $11 +26.8% | $8 +44.1% | $6 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $797.6M -3.2% | $824.0M -0.1% | $825.2M +2.0% | $809.4M -1.3% | $820.0M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $820.8M -2.1% | $838.4M -0.1% | $838.9M +2.3% | $820.0M +0.0% | $820.0M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Woodward, Inc.
NASDAQ:WWD
$25.63B
J.B. Hunt Transport Services, Inc.
NASDAQ:JBHT
$25.58B
XPO Logistics, Inc.
NYSE:XPO
$23.42B
C.H. Robinson Worldwide, Inc.
NASDAQ:CHRW
$21.81B
Expeditors International of Washington, Inc.
NYSE:EXPD
$21.10B
Watsco, Inc.
NYSE:WSO
$16.51B
LATAM Airlines Group S.A.
NYSE:LTM
$16.34B
Textron Inc.
NYSE:TXT
$15.55B
Carlisle Companies Incorporated
NYSE:CSL
$14.60B
Allegion plc
NYSE:ALLE
$11.47B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does ZTO generate?
ZTO Express (Cayman) Inc. (ZTO) reported $47.76B of revenue in fiscal 2025.
Is ZTO profitable?
ZTO Express (Cayman) Inc. (ZTO) reported $8.83B of net income, with a net margin of 18.5%.
Explore More
Continue the stock analysis
Jump to another research area for this company.