ZTO Express (Cayman) (ZTO) Long-Term Deferred Tax (2015 - 2026)

As of Dec 31, 2025, ZTO Express (Cayman) posted Long-Term Deferred Tax of $157.82 million, up 17.0% from the prior year.

• Long-Term Deferred Tax has increased for three consecutive years, with a five-year compound annual growth rate of 7.4% (years ended Dec 2020 to Dec 2025).
• By year, Long-Term Deferred Tax came in at $134.89 million in the year ended Dec 31, 2024 (+8.9%), $123.91 million in the year ended Dec 31, 2023 (+13.9%), $108.75 million in the year ended Dec 31, 2022 (-25.9%) and $146.7 million in the year ended Dec 31, 2021 (+32.8%).
• The figure for the quarter ended Jun 30, 2026 ranks as the highest quarterly Long-Term Deferred Tax in data going back to the quarter ended Dec 31, 2015.
• Year over year, Long-Term Deferred Tax has now increased in each of the last seven quarters, with growth averaging 15.6% over the last eight quarters.
• The high point for year-over-year Long-Term Deferred Tax in five years was the quarter ended Sep 30, 2025 (growth of 44.0%); the low point was the quarter ended Dec 31, 2022 (a decline of 27.9%).
• Per Business Quant data, the three quarters before the quarter ended Jun 30, 2026 came in at $172.77 million (quarter ended Mar 31, 2026), $155.61 million (quarter ended Dec 31, 2025) and $146.01 million (quarter ended Sep 30, 2025).