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

ZTO Express (Cayman) has disclosed Gross Margin across 12 years of filings, most recently posting 24.36% for Q1 2026.

• Gross Margin for Q1 2026 came in at 24.36%, down 33.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 24.89% (down 477.0% YoY), and the FY2025 annual result was 24.99%, down 598.0% from the prior year.
• Gross Margin came in at 24.36% for Q1 2026 at ZTO Express (Cayman), down from 25.37% 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.
• The 5-year median for Gross Margin is 28.09% (2022), against an average of 27.71%.
• Across the five-year window, Gross Margin soared 848 bps in 2023 and tumbled 887 bps in 2025, its largest moves.
• ZTO Express (Cayman)'s 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 retreated by 4 bps to 24.36% in 2026.
• The last three Gross Margin figures came in at 24.36% (Q1 2026), 25.37% (Q4 2025), and 24.91% (Q3 2025), per Business Quant data.