ZTO Express (Cayman) Inc. (ZTO) quarterly income statement — complete revenue, gross profit & net income 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 |
|---|
| Sales/Revenue | 11.83B | 10.89B | 12.92B | 10.68B | 10.73B | 9.96B | 10.62B | 9.08B | 9.74B | 8.98B | 9.87B | 8.94B | 8.66B | 7.9B | 9.22B | 7.39B | 7.33B | 6.47B | 8.26B | 6.64B |
| Revenue Growth % | 10.31% | 9.35% | 21.66% | 17.62% | 10.12% | 10.87% | 7.58% | 1.46% | 12.52% | 13.65% | 7.09% | 21.03% | 18.18% | 22.12% | 11.63% | 11.33% | 14.41% | 65.29% | 20.6% | 26.08% |
| Cost of Goods Sold | 8.89B | 8.2B | 9.16B | 7.34B | 7.11B | 6.96B | 7.49B | 6.37B | 6.44B | 6.46B | 7.1B | 6.5B | 6.45B | 6.28B | 6.97B | 5.82B | 5.65B | 5.38B | 6.4B | 5.25B |
| COGS % of Revenue | 75.11% | 75.31% | 70.9% | 68.76% | 66.25% | 69.86% | 70.54% | 70.18% | 66.07% | 71.91% | 71.91% | 72.67% | 74.55% | 79.51% | 75.58% | 78.78% | 77.15% | 83.06% | 77.49% | 79.05% |
| Gross Profit | 2.94B | 2.69B | 3.76B | 3.33B | 3.62B | 3B | 3.13B | 2.71B | 3.3B | 2.52B | 2.77B | 2.44B | 2.2B | 1.62B | 2.25B | 1.57B | 1.67B | 1.1B | 1.86B | 1.39B |
| Gross Margin % | 24.89% | 24.69% | 29.1% | 31.24% | 33.75% | 30.14% | 29.46% | 29.82% | 33.93% | 28.09% | 28.09% | 27.33% | 25.45% | 20.49% | 24.42% | 21.22% | 22.85% | 16.94% | 22.51% | 20.95% |
| Gross Profit Growth % | -18.67% | -10.42% | 20.19% | 23.22% | 9.56% | 18.97% | 12.83% | 10.72% | 50.01% | 55.82% | 23.17% | 55.87% | 31.62% | 47.69% | 21.13% | 12.75% | -5.4% | 33.94% | -6.9% | -12.9% |
| Operating Expenses | 469.31M | 283.84M | 306.55M | 493.02M | 405.28M | 735.38M | 373.15M | 282.83M | 425.65M | 572.97M | 312.73M | 269.57M | 217.27M | 503.22M | 196.92M | 207.81M | 217.99M | 463.65M | 291.7M | 221.83M |
| OpEx % of Revenue | 3.97% | 2.61% | 2.37% | 4.62% | 3.78% | 7.38% | 3.51% | 3.12% | 4.37% | 6.38% | 3.17% | 3.01% | 2.51% | 6.37% | 2.14% | 2.81% | 2.98% | 7.16% | 3.53% | 3.34% |
| Selling, General & Admin | 623.59M | 737.51M | 655.83M | 544.57M | 592.98M | 896.64M | 700.36M | 433.68M | 504.61M | 786.61M | 560.86M | 441.41M | 456.91M | 618.2M | 472.28M | 389.36M | 394.01M | 620.22M | 417.57M | 373.67M |
| SG&A % of Revenue | 5.27% | 6.77% | 5.08% | 5.1% | 5.53% | 9% | 6.6% | 4.78% | 5.18% | 8.76% | 5.68% | 4.93% | 5.28% | 7.82% | 5.12% | 5.27% | 5.38% | 9.58% | 5.06% | 5.63% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K |
| Operating Income | 2.48B | 2.41B | 3.45B | 2.84B | 3.22B | 2.27B | 2.76B | 2.42B | 2.88B | 1.95B | 2.46B | 2.17B | 1.99B | 1.12B | 2.05B | 1.36B | 1.46B | 632.88M | 1.57B | 1.17B |
| Operating Margin % | 20.92% | 22.09% | 26.73% | 26.62% | 29.98% | 22.76% | 25.94% | 26.7% | 29.56% | 21.71% | 24.92% | 24.31% | 22.94% | 14.12% | 22.28% | 18.41% | 19.87% | 9.78% | 18.97% | 17.61% |
| Operating Income Growth % | -23.02% | 6.12% | 25.34% | 17.25% | 11.69% | 16.21% | 12% | 11.44% | 44.99% | 74.73% | 19.76% | 59.86% | 36.4% | 76.38% | 31.11% | 16.37% | -11.6% | 70.12% | -13.43% | -16.52% |
| EBITDA | 3.36B | 3.23B | 4.25B | 2.94B | 3.97B | 3.05B | 3.53B | 3.17B | 3.58B | 2.64B | 3.17B | 2.84B | 2.66B | 1.75B | 2.65B | 1.9B | 1.96B | 1.15B | 2.09B | 1.65B |
| EBITDA Margin % | 28.4% | 29.68% | 32.87% | 27.58% | 37.02% | 30.65% | 33.28% | 34.91% | 36.79% | 29.35% | 32.14% | 31.75% | 30.7% | 22.13% | 28.77% | 25.69% | 26.77% | 17.83% | 25.36% | 24.83% |
| EBITDA Growth % | -15.38% | 5.88% | 20.15% | -7.09% | 10.79% | 15.77% | 11.39% | 11.55% | 34.86% | 50.77% | 19.67% | 49.6% | 35.53% | 51.52% | 26.65% | 15.17% | -5.39% | 47.93% | -4.43% | -3.22% |
| D&A (Non-Cash Add-back) | 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 |
| EBIT | 2.61B | 2.64B | 3.56B | 2.98B | 3.39B | 2.08B | 2.92B | 2.69B | 3.18B | 2.19B | 2.67B | 2.38B | 2.21B | 1.21B | 2.13B | 1.45B | 1.56B | 723.83M | 1.59B | 1.2B |
| Net Interest Income | 110.62M | 129.52M | 150.14M | 172.15M | 172.22M | 161.1M | 139.58M | 162.56M | 94.89M | 20.2M | 35.62M | 130.73M | 95.39M | 51.46M | 69.36M | 39.53M | 68.6M | 59.9M | 93.38M | 82.95M |
| Interest Income | 208.73M | 198.39M | 221.93M | 238.51M | 288.08M | 245.02M | 201.38M | 246.36M | 167.11M | 91.91M | 111.77M | 162.37M | 118.49M | 111.1M | 94.21M | 91.8M | 102.4M | 75.48M | 105.56M | 96.65M |
| Interest Expense | 98.11M | 68.88M | 71.78M | 66.36M | 115.86M | 83.92M | 61.8M | 83.8M | 72.22M | 71.71M | 76.15M | 31.64M | 23.1M | 59.63M | 24.85M | 52.27M | 33.8M | 15.58M | 12.17M | 13.71M |
| Other Income/Expense | 65.01M | 165.38M | 52.72M | 92.21M | 63.81M | -252.65M | 91.34M | 197.38M | 227.02M | 169.39M | 169.97M | 160M | 211.36M | 14.48M | 65.11M | 16.94M | 71.43M | 50.28M | 14.59M | 13.32M |
| Pretax Income | 2.54B | 2.57B | 3.51B | 2.93B | 3.28B | 2.01B | 2.85B | 2.62B | 3.11B | 2.12B | 2.63B | 2.33B | 2.2B | 1.13B | 2.12B | 1.38B | 1.53B | 683.16M | 1.58B | 1.18B |
| Pretax Margin % | 21.47% | 23.6% | 27.14% | 27.48% | 30.57% | 20.22% | 26.8% | 28.88% | 31.89% | 23.6% | 26.64% | 26.1% | 25.38% | 14.31% | 22.99% | 18.64% | 20.85% | 10.55% | 19.15% | 17.81% |
| Income Tax | 575.53M | 531.57M | 1.06B | 554.96M | 665.01M | 566.3M | 636.62M | 271.39M | 575.59M | 455.01M | 500.52M | 439.39M | 438.2M | 255.22M | 371.43M | 229.53M | 254.86M | 149.64M | 289.61M | -27.84M |
| Effective Tax Rate % | 22.66% | 20.68% | 30.21% | 18.91% | 20.28% | 28.12% | 22.37% | 10.35% | 18.53% | 21.46% | 19.03% | 18.82% | 19.95% | 22.57% | 17.53% | 16.66% | 16.69% | 21.9% | 18.32% | -2.35% |
| Net Income | 1.94B | 1.99B | 2.38B | 2.4B | 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 |
| Net Margin % | 16.38% | 18.3% | 18.44% | 22.45% | 24.35% | 14.32% | 20.64% | 25.84% | 26.09% | 18.59% | 21.91% | 21.63% | 20.85% | 11.47% | 19.12% | 15.79% | 17.64% | 8.24% | 15.6% | 18.09% |
| Net Income Growth % | -25.79% | 39.77% | 8.68% | 2.18% | 2.78% | -14.63% | 1.37% | 21.2% | 40.77% | 84.31% | 22.71% | 65.85% | 39.7% | 69.83% | 36.81% | -2.86% | -10.78% | 42.41% | -44.63% | -8.15% |
| Net Income (Continuing) | 1.96B | 2.04B | 2.45B | 2.38B | 2.61B | 1.45B | 2.21B | 2.35B | 2.53B | 1.66B | 2.13B | 1.9B | 1.76B | 875.52M | 1.75B | 1.15B | 1.27B | 533.53M | 1.29B | 1.21B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 658.2M | 651.35M | 612.44M | 530.67M | 547.2M | 547.03M | 478.66M | 434.3M | 429.25M | 438.4M | 443.92M | 455.09M | 419.4M | 225.82M | 290.33M | 145.6M | 109.44M | 139.31M | 120.89M | 111.59M |
| EPS (Diluted) | 2.37 | 2.44 | 2.89 | 2.90 | 3.16 | 1.75 | 2.66 | 2.84 | 3.07 | 2.03 | 2.61 | 2.36 | 2.20 | 1.12 | 2.18 | 1.43 | 1.56 | 0.64 | 1.55 | 1.53 |
| EPS Growth % | -25% | 39.43% | 8.65% | 2.11% | 2.93% | -13.79% | 1.92% | 20.34% | 39.55% | 81.25% | 19.72% | 65.03% | 41.03% | 75% | 40.65% | -6.54% | -15.68% | 33.33% | -47.81% | -8.38% |
| EPS (Basic) | 2.43 | 2.50 | 2.97 | 2.98 | 3.24 | 1.77 | 2.72 | 2.91 | 3.14 | 2.07 | 2.67 | 2.39 | 2.20 | 1.12 | 2.18 | 1.43 | 1.56 | 0.64 | 1.55 | 1.53 |
| Diluted Shares Outstanding | 832.05M | 832.05M | 836.92M | 838.31M | 839.7M | 836.14M | 837.29M | 838.29M | 840.18M | 840.49M | 841.23M | 821.08M | 821.08M | 808.69M | 808.45M | 816.34M | 827.02M | 828.5M | 832.99M | 784.87M |
| Basic Shares Outstanding | 798.49M | 798.49M | 824.46M | 826.09M | 806.67M | 804.94M | 806.08M | 807.08M | 808.97M | 808.87M | 809.6M | 809.73M | 809.73M | 808.69M | 808.32M | 816.34M | 827.02M | 828.5M | 832.99M | 784.87M |
| Dividend Payout Ratio | 106.05% | - | 235.26% | - | 137.85% | - | 94.54% | - | 81.56% | - | 61.19% | - | 72.49% | - | 76.83% | - | 104.65% | - | 128.04% | - |