ZTO Express (Cayman) (ZTO) Cost of Revenue (2015 - 2026)

ZTO Express (Cayman) has disclosed Cost of Revenue across 12 years of filings, most recently posting $1.5 billion for Q1 2026.

• Cost of Revenue for Q1 2026 came in at $1.5 billion, up 28.86% year-over-year; the trailing twelve-month figure through Mar 2026 was $5.5 billion (up 24.68% YoY), and the FY2025 annual result was $5.3 billion, up 25.77% from the prior year.
• Cost of Revenue came in at $1.5 billion for Q1 2026 at ZTO Express (Cayman), down from $1.5 billion in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $1.5 billion in Q4 2025 to a low of $873.0 million in Q3 2023.
• The 5-year median for Cost of Revenue is $1.0 billion (2022), against an average of $1.1 billion.
• Across the five-year window, Cost of Revenue decreased 7.89% in 2023 and gained 28.86% in 2026, its largest moves.
• ZTO Express (Cayman)'s Cost of Revenue stood at $1.0 billion in 2022, then increased by 2.52% to $1.1 billion in 2023, then climbed by 18.94% to $1.3 billion in 2024, then gained by 23.4% to $1.5 billion in 2025, then fell by 5.94% to $1.5 billion in 2026.
• The last three Cost of Revenue figures came in at $1.5 billion (Q1 2026), $1.5 billion (Q4 2025), and $1.3 billion (Q3 2025), per Business Quant data.