ZTO Express (Cayman) Inc. (ZTO) Revenue History
Annual and quarterly revenue from 2014 to 2024
Compound Annual Growth Rate (CAGR)
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ZTO Revenue Growth
Revenue Breakdown (FY 2024)
ZTO's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
ZTO Revenue Analysis (2014–2024)
As of May 8, 2026, ZTO Express (Cayman) Inc. (ZTO) generated trailing twelve-month (TTM) revenue of $46.32 billion, reflecting strong growth of +10.3% year-over-year. The most recent quarter (Q2 2025) recorded $11.83 billion in revenue, up 8.6% sequentially.
Looking at the longer-term picture, ZTO's 5-year compound annual growth rate (CAGR) stands at +14.9%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $44.28 billion in 2024, representing a new all-time high.
Revenue diversification analysis shows ZTO's business is primarily driven by Express delivery services (92%), Sale of accessories (5%), and Freight forwarding services (2%). With over half of revenue concentrated in Express delivery services, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including GXO (+10.4% YoY), XPO (+3.6% YoY), and UPS (-2.7% YoY), ZTO has underperformed the peer group in terms of revenue growth. Compare ZTO vs GXO →
ZTO Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ZTOCurrent | $46.3B | +10.3% | +14.9% | 26.6% | |
 GXO | $13.2B | +10.4% | +16.3% | 3.2% | |
 XPO | $8.2B | +3.6% | +5.7% | 8.9% | |
 UPS | $88.6B | -2.7% | +1.0% | 9.6% | |
 FDX | $87.9B | +4.7% | +4.9% | 6.9% | |
 ODFL | $5.5B | -5.5% | +6.5% | 24.8% |
ZTO Historical Revenue Data (2014–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $44.28B | +15.3% | $13.72B | 31.0% | $11.78B | 26.6% |
| 2023 | $38.42B | +8.6% | $11.66B | 30.4% | $10.01B | 26.0% |
| 2022 | $35.38B | +16.3% | $9.04B | 25.6% | $7.74B | 21.9% |
| 2021 | $30.41B | +20.6% | $6.59B | 21.7% | $5.50B | 18.1% |
| 2020 | $25.21B | +14.0% | $5.84B | 23.2% | $4.75B | 18.9% |
| 2019 | $22.11B | +25.6% | $6.62B | 29.9% | $5.46B | 24.7% |
| 2018 | $17.60B | +34.8% | $5.36B | 30.5% | $4.33B | 24.6% |
| 2017 | $13.06B | +33.4% | $4.35B | 33.3% | $3.75B | 28.7% |
| 2016 | $9.79B | +60.8% | $3.44B | 35.2% | $2.77B | 28.3% |
| 2015 | $6.09B | +55.9% | $2.09B | 34.3% | $1.53B | 25.1% |
Full ZTO Stock Analysis
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Start ComparisonZTO — Frequently Asked Questions
Quick answers to the most common questions about buying ZTO stock.
Is ZTO's revenue growth accelerating or slowing?
ZTO maintains +10.3% revenue growth, in line with its 5-year CAGR of +14.9%. TTM revenue stands at $46.3B. Growth rate remains consistent with historical average.
What is ZTO's long-term revenue growth rate?
ZTO Express (Cayman) Inc.'s 5-year revenue CAGR of +14.9% reflects the sustained expansion pattern. Current YoY growth of +10.3% is near this long-term average.
How is ZTO's revenue distributed by segment?
ZTO reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2024 are available for download. Segment mix reveals concentration and diversification trends.