ZTO Express (Cayman) (ZTO) Net Margin (2015 - 2026)
ZTO Express (Cayman) (ZTO) posted Net Margin of 15.95% for Q1 2026, down 11.85% sequentially from 18.09% in Q4 2025, and down 235.0% YoY from 11.81% in Q1 2025.
ZTO Express (Cayman) (ZTO) Net Margin (2015 - 2026) Analysis & Trends
ZTO Express (Cayman) has reported Net Margin for 12 years, with the latest figure at 15.95% in Q1 2026.
- Quarterly Net Margin fell 235.0% year-over-year to 15.95% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 17.87% (down 291.0% YoY) and the FY2025 annual result came in at 18.49%, down 142.0% from the prior year.
- Net Margin eased to 15.95% in Q1 2026 per ZTO's latest filing, from 18.09% in the prior quarter.
- Over five years, Net Margin peaked at 26.09% in Q2 2023 and troughed at 11.47% in Q1 2022.
- A 5-year average of 19.8% and a median of 20.64% in 2023 frame the typical range for Net Margin.
- The sharpest annual moves came in 2023 and 2025: Net Margin jumped 713 bps in 2023, then plunged 797 bps in 2025.
- Over 5 years, Net Margin stood at 21.91% in 2022, then retreated by 6 bps to 20.64% in 2023, then fell by 11 bps to 18.44% in 2024, then fell by 2 bps to 18.09% in 2025, then dropped by 12 bps to 15.95% in 2026.
- According to Business Quant data, Net Margin over the past three periods registered 15.95%, 18.09%, and 21.27% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | United Parcel Service | 87.24 Bn | 82.59 Bn | 19.65 Bn | 2.65% |
| 2 | Fedex | 77.35 Bn | 64.04 Bn | 18.84 Bn | 6.39% |
| 3 | Hunt J B Transport Services | 25.86 Bn | 25.86 Bn | - | 5.18% |
| 4 | Expeditors International Of Washington | 24.43 Bn | 23.40 Bn | 1.09 Bn | 7.63% |
| 5 | C. H. Robinson Worldwide | 17.04 Bn | 16.89 Bn | 1.11 Bn | 3.79% |
| 6 | ZTO Express (Cayman) | 17.03 Bn | 12.62 Bn | 469.01 Mn | 15.95% |
| 7 | Landstar System | 6.19 Bn | 5.84 Bn | 308.86 Mn | 3.42% |
| 8 | GXO Logistics | 5.22 Bn | 4.45 Bn | 508.00 Mn | 0.78% |
| 9 | Pitney Bowes | 2.21 Bn | 1.93 Bn | 296.14 Mn | 11.05% |
| 10 | Cryoport | 842.14 Mn | 445.45 Mn | 22.82 Mn | -20.94% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 15.95% |
| Dec 31, 2025 | 18.09% |
| Sep 30, 2025 | 21.27% |
| Jun 30, 2025 | 16.38% |
| Mar 31, 2025 | 18.30% |
| Dec 31, 2024 | 18.44% |
| Sep 30, 2024 | 22.45% |
| Jun 30, 2024 | 24.35% |
| Mar 31, 2024 | 14.32% |
| Dec 31, 2023 | 20.64% |
| Sep 30, 2023 | 25.84% |
| Jun 30, 2023 | 26.09% |
| Mar 31, 2023 | 18.59% |
| Dec 31, 2022 | 21.91% |
| Sep 30, 2022 | 21.63% |
| Jun 30, 2022 | 20.85% |
| Mar 31, 2022 | 11.47% |
| Dec 31, 2021 | 19.12% |
| Sep 30, 2021 | 15.79% |
| Jun 30, 2021 | 17.64% |