ZTO Express (Cayman) Inc. (ZTO) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 | Q4'20 | Q3'20 |
|---|
| Cash from Operations | 2.17B | 2.36B | 2.81B | 3.11B | 3.48B | 2.03B | 3.92B | 2.94B | 3.76B | 2.74B | 3.77B | 2.82B | 3.78B | 1.11B | 3.02B | 1.79B | 1.93B | 476.95M | 2.04B | 1.48B |
| Operating CF Margin % | 18.33% | 21.7% | 21.72% | 29.15% | 32.45% | 20.39% | 36.94% | 32.37% | 38.62% | 30.48% | 38.19% | 31.56% | 43.67% | 13.99% | 32.8% | 24.18% | 26.38% | 7.37% | 24.71% | 22.3% |
| Operating CF Growth % | -37.7% | 16.34% | -28.47% | 5.92% | -7.48% | -25.82% | 4.07% | 4.07% | -0.51% | 147.69% | 24.67% | 57.99% | 95.65% | 131.76% | 48.21% | 20.71% | 54.31% | 168.27% | -9.74% | 4.42% |
| Net Income | 1.94B | 1.99B | 2.38B | 334.32M | 2.61B | 1.43B | 2.19B | 2.35B | 2.54B | 1.67B | 2.16B | 1.93B | 1.81B | 906.27M | 1.76B | 1.17B | 1.29B | 533.63M | 1.29B | 1.2B |
| Depreciation & Amortization | 884.7M | 826.93M | 793.6M | 101.98M | 755.27M | 786.1M | 779.45M | 744.68M | 705.07M | 686.48M | 713.23M | 665.28M | 671.97M | 632.7M | 597.62M | 537.99M | 505.22M | 521.36M | 527M | 479.21M |
| Stock-Based Compensation | 2.99M | 220.27M | 6.77M | 6.77M | 6.77M | 298.39M | 0 | 0 | 0 | 254.98M | 178.98M | 0 | 0 | 178.98M | 0 | 27K | -27K | 248.03M | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -678.96M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -657.82M | -677.47M | 1.66B | 3.11B | 106.25M | -479.51M | 479.19M | -151.74M | 515.33M | 126.18M | 1.61B | 223.05M | 1.98B | 199.13M | 1.26B | 620.38M | 640.23M | -56.67M | 752.12M | 279.41M |
| Working Capital Changes | 0 | 0 | -2.03B | 0 | 0 | 0 | 472.34M | 0 | 0 | 0 | -213.25M | 0 | 0 | 0 | -382.92M | 0 | 0 | 0 | -1.43B | 0 |
| Change in Receivables | 0 | 0 | -941.51M | 0 | 0 | 0 | 244.42M | 0 | 0 | 0 | -14.88M | 0 | 0 | 0 | -209.85M | 0 | 0 | 0 | -79.83M | 0 |
| Change in Inventory | 0 | 0 | 27.86M | 0 | 0 | 0 | 40.04M | 0 | 0 | 0 | -198.37M | 0 | 0 | 0 | -120.8M | 0 | 0 | 0 | -159.72M | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -1.16B | -3.16B | 2.97B | -1.91B | -4.67B | -2.38B | 1.18B | -4.03B | -3.54B | -5.87B | -4.38B | -4.74B | -3.61B | -3.31B | -2.81B | -1.39B | -184.47M | -4.37B | -2.92B | 1.18B |
| Capital Expenditures | -2.93B | 0 | 0 | 0 | -2.65B | 0 | -6.53B | 0 | -4.45B | 0 | -7.07B | -2.1B | -3.24B | 0 | -8.36B | 0 | -3.96B | 0 | -7.24B | 0 |
| CapEx % of Revenue | 24.73% | - | 40.31% | - | 24.68% | - | 61.48% | - | 45.66% | - | 71.6% | 23.48% | 37.47% | - | 90.7% | - | 54.07% | - | 87.65% | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 1.76B | -3.16B | 2.97B | -1.91B | -2.02B | -2.38B | 7.71B | -4.03B | 905.65M | -5.87B | 2.69B | -2.64B | -3.61B | -3.31B | -2.81B | -1.39B | -184.47M | -4.37B | -2.92B | 1.18B |
| Cash from Financing | -117.71M | -261.09M | -4.03B | 10.18M | -1.1B | 130.13M | -2.17B | 2.53B | -1.97B | 840.57M | -1.71B | 6.34B | -157.13M | 2.58B | -787.46M | -2.17B | -943.51M | 993.97M | -628.17M | 8.6B |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | -46.55M | 0 | -1.16B | 0 | 0 | 0 | -1.01B | 0 | -287.83M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | -2.06B | 0 | -5.61B | 0 | -3.6B | 0 | -2.07B | 0 | -2.07B | 0 | -1.32B | 0 | -1.31B | 0 | -1.35B | 0 | -1.35B | 0 | -1.65B | 0 |
| Share Repurchases | -46.55M | 0 | -1.16B | 0 | 0 | 0 | -1.01B | 0 | -287.83M | 0 | -84.55M | 0 | 0 | 0 | -3.81B | 0 | -549.99M | 0 | -1.23B | 0 |
| Other Financing | 1.98B | -261.09M | 2.73B | 10.18M | 2.5B | 130.13M | 912.86M | 2.53B | 386.05M | 840.57M | -383.92M | 6.34B | -157.13M | 2.58B | -787.46M | -2.17B | -943.51M | 993.97M | -628.17M | 8.6B |
| Net Change in Cash | 867.27M | -1.07B | 1.78B | 1.17B | -2.29B | -178.9M | 2.94B | 1.45B | -1.65B | -2.3B | -2.38B | 4.65B | 207.66M | 350.47M | -625.82M | -1.77B | 670.55M | -2.87B | -2.07B | 11.15B |
| Free Cash Flow | -757.41M | 2.36B | -2.4B | 3.11B | 833.3M | 2.03B | -2.61B | 2.94B | -685.6M | 2.74B | -3.3B | 723.32M | 537.13M | 1.11B | -5.34B | 1.79B | -2.03B | 476.95M | -5.2B | 1.48B |
| FCF Margin % | -6.4% | 21.7% | -18.59% | 29.15% | 7.77% | 20.39% | -24.54% | 32.37% | -7.04% | 30.48% | -33.41% | 8.09% | 6.2% | 13.99% | -57.9% | 24.18% | -27.69% | 7.37% | -62.94% | 22.3% |
| FCF Growth % | -190.89% | 16.34% | 7.82% | 5.92% | 221.54% | -25.82% | 20.99% | 306.2% | -227.64% | 147.69% | 38.2% | -59.52% | 126.48% | 131.76% | -2.69% | 20.71% | -48.81% | 168.27% | -118.8% | 4.42% |
| FCF per Share | -0.91 | 2.84 | -2.87 | 3.71 | 0.99 | 2.43 | -3.11 | 3.50 | -0.82 | 3.26 | -3.92 | 0.88 | 0.65 | 1.37 | -6.60 | 2.19 | -2.45 | 0.58 | -6.24 | 1.89 |
| FCF Conversion (FCF/Net Income) | 1.12x | 1.19x | 1.18x | 1.30x | 1.33x | 1.42x | 1.79x | 1.25x | 1.48x | 1.64x | 1.74x | 1.46x | 2.09x | 1.22x | 1.72x | 1.53x | 1.50x | 0.89x | 1.58x | 1.23x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |