ZTO Express (Cayman) Inc

ZTO Express (Cayman) Inc (2057.HK) is currently classified as Marine Transportation within Marine Freight & Logistics (Industrials). Classification confidence: 0.66 (rule-based classification). Capital structure on the latest snapshot: total assets 91,023,997,000 CNY, total equity 66,384,329,000, short-term debt 0, long-term debt 11,076,533,000. Net cash position is approximately -1,065,000,000 CNY. Self-calculated market cap is 142,739,588,482 CNY (market_price × shares_outstanding_diluted). Profitability profile: revenue 49,098,667,000, gross profit 12,271,441,000, operating income 10,427,464,000, net income 9,080,651,000. Return on equity ~13.7%. Return on assets ~10.0%. Operating-cash-flow to net-income ratio is 1.32. Risk profile from automated assessment: liquidity risk medium, dilution risk low. Flags: Net cash is negative after subtracting total debt.. Comparable peers identified within the same class: Frontline, Okeanis Eco Tankers, Stolt-Nielsen, FRO.N, OET.

ZTO Express (Cayman) Inc (2057.HK) has entered the scope of analysis, marking the first available data point for the ticker with no prior basis for delta computation. This initial coverage establishes a baseline for monitoring the company’s financial and operational metrics, providing a starting reference for future performance tracking and comparative analysis. The shareholder structure reveals notable activity, including the addition of a new holder (Investor ID 466) who acquired 19,350,000 shares valued at approximately $18.81 million as of June 30, 2024. This position represents a weight of 0.000427% in the company, indicating a fresh institutional or significant stake entry into the ownership roster. Concurrently, there have been major modifications to the holdings of Investor ID 587 as of March 31, 2026. The data reflects significant fluctuations in this investor's position, with share counts shifting between 1,009 shares (valued at $0.025 million) and 14,761 shares (valued at $0.372 million). These changes suggest active trading or reporting adjustments by this specific holder during the period. ZTO Express maintains a presence in one index and has 18 top holders, though current data shows zero officers and zero analysts covering the stock. The combination of new holder additions and significant position modifications by existing investors highlights evolving interest in the company, setting the stage for deeper scrutiny of its market dynamics and shareholder composition.

Revenue grew 12.7% CAGR from 2022 to 2026, demonstrating strong top-line expansion in the logistics sector.

Net income CAGR of 17.6% outpaces revenue growth, indicating improving profitability efficiency over the four-year period.

Debt-to-equity ratio of 0.17 is well below the 0.32 cohort median, suggesting a conservative capital structure.

Operating income declined 3.8% year-over-year in 2026, signaling potential margin compression or cost pressures.

Net income growth slowed to just 3.0% year-over-year in 2026, indicating diminishing returns on revenue expansion.

Cash conversion ratio of 1.32 trails the 1.71 cohort median, suggesting weaker cash generation relative to peers.

Long-term debt increased to CNY 16.8 billion in 2025, up from CNY 3.6 billion in 2022.

The company faces a medium level of liquidity risk according to internal risk flag assessments.

Revenue ¥14.51B, +12,3% YoY; Operating income +0,6% YoY.

• ▍Revenue ¥14.51B, +12,3% YoY
• ▍Operating income +0,6% YoY
• ▍Net income +10,2% YoY
• ▍Free cash flow +11,0% YoY
• ▍Net margin 18.1%

Revenue ¥11.86B, +11,1% YoY; Operating income −14,1% YoY.

• ▍Revenue ¥11.86B, +11,1% YoY
• ▍Operating income −14,1% YoY
• ▍Net income +5,3% YoY
• ▍Free cash flow +9,6% YoY
• ▍Net margin 21.3%

Revenue ¥11.83B, +10,3% YoY; Operating income −21,2% YoY.

• ▍Revenue ¥11.83B, +10,3% YoY
• ▍Operating income −21,2% YoY
• ▍Net income −25,8% YoY
• ▍Free cash flow −18,4% YoY
• ▍Net margin 16.4%

Revenue ¥10.89B; Operating income ¥2.41B.

• ▍Revenue ¥10.89B
• ▍Operating income ¥2.41B
• ▍Net margin 18.3%

Revenue ¥12.92B; Operating income ¥3.17B.

• ▍Revenue ¥12.92B
• ▍Operating income ¥3.17B
• ▍Net margin 18.4%

Revenue ¥10.68B; Operating income ¥2.84B.

• ▍Revenue ¥10.68B
• ▍Operating income ¥2.84B
• ▍Net margin 22.4%

Revenue ¥10.73B; Operating income ¥3.03B.

• ▍Revenue ¥10.73B
• ▍Operating income ¥3.03B
• ▍Net margin 24.4%

Revenue ¥49.10B, +10,9% YoY; Operating income −3,8% YoY.

• ▍Revenue ¥49.10B, +10,9% YoY
• ▍Operating income −3,8% YoY
• ▍Net income +3,0% YoY
• ▍Free cash flow +679,7% YoY
• ▍Net margin 18.5%

Revenue ¥44.28B, +15,3% YoY; Operating income +8,2% YoY.

• ▍Revenue ¥44.28B, +15,3% YoY
• ▍Operating income +8,2% YoY
• ▍Net income +0,8% YoY
• ▍Free cash flow −88,0% YoY
• ▍Net margin 19.9%

Revenue ¥38.42B, +8,6% YoY; Operating income +28,7% YoY.

• ▍Revenue ¥38.42B, +8,6% YoY
• ▍Operating income +28,7% YoY
• ▍Net income +28,5% YoY
• ▍Free cash flow +390,5% YoY
• ▍Net margin 22.8%

Revenue ¥35.38B, +16,4% YoY; Operating income +41,3% YoY.

• ▍Revenue ¥35.38B, +16,4% YoY
• ▍Operating income +41,3% YoY
• ▍Net income +43,2% YoY
• ▍Free cash flow +115,8% YoY
• ▍Net margin 19.2%

Revenue ¥30.41B; Operating income ¥5.51B.

• ▍Revenue ¥30.41B
• ▍Operating income ¥5.51B
• ▍Net margin 15.6%