ZTO Express (Cayman) (ZTO) Gross Margin (2015 - 2026)

ZTO Express (Cayman) has disclosed Gross Margin across 12 years of filings, most recently posting 25.66% for Q2 2026.

• In Q2 2026, Gross Margin rose 77.0% year-over-year to 25.66%; the TTM figure through Jun 2026 stood at 25.1% (down 239.0% YoY), while the FY2025 annual figure was 24.99%, down 598.0% from the prior year.
• Gross Margin came in at 25.66% for Q2 2026 at ZTO Express (Cayman), up from 24.36% in the prior quarter.
• In the past five years, Gross Margin ranged from a high of 33.93% in Q2 2023 to a low of 20.49% in Q1 2022.
• Average Gross Margin over 5 years is 27.6%, with a median of 27.71% recorded in 2022.
• Year-over-year, Gross Margin jumped 848 bps in 2023 and slumped 887 bps in 2025.
• Over 5 years, Gross Margin stood at 28.09% in 2022, then gained by 5 bps to 29.46% in 2023, then dropped by 1 bps to 29.1% in 2024, then retreated by 13 bps to 25.37% in 2025, then climbed by 1 bps to 25.66% in 2026.
• Per Business Quant data, the three most recent Gross Margin figures were 25.66% in Q2 2026, 24.36% in Q1 2026, and 25.37% in Q4 2025.