ZTO Express (Cayman) (ZTO) Net Margin (2015 - 2026)
ZTO Express (Cayman)'s Net Margin was 20.97% in the quarter ended Jun 30, 2026, up 4.59 percentage points from 16.38% a year earlier and up 5.02 percentage points from the prior quarter.
ZTO Express (Cayman) (ZTO) Net Margin (2015 - 2026) Analysis & Trends
On a trailing twelve-month basis, ZTO Express (Cayman)'s Net Margin was 19.03% through Jun 30, 2026, up 0.20 percentage points year-over-year; for the year ended Dec 31, 2025, it was 18.49%, down 1.42 percentage points from the prior year.
- Net Margin shows a five-year change of +2.31 percentage points (years ended Dec 2020 to Dec 2025).
- In earlier years, Net Margin was 19.91% in the year ended Dec 31, 2024 (-2.86 pp), 22.77% in the year ended Dec 31, 2023 (+3.53 pp), 19.25% in the year ended Dec 31, 2022 (+3.01 pp) and 16.24% in the year ended Dec 31, 2021 (+0.06 pp).
- Quarterly Net Margin has moved between 11.47% (the quarter ended Mar 31, 2022) and 26.09% (the quarter ended Jun 30, 2023) over five years.
- Compared with a year earlier, Net Margin was higher in two of the last eight quarters, with an average year-over-year change of -1.11 percentage points.
- The best year-over-year quarter for Net Margin over five years was the quarter ended Mar 31, 2023 (a gain of 7.13 percentage points); the worst was the quarter ended Jun 30, 2025 (a drop of 7.97 percentage points).
- Per Business Quant data, ZTO's Net Margin in the three quarters before the quarter ended Jun 30, 2026 was 15.95% (quarter ended Mar 31, 2026), 18.09% (quarter ended Dec 31, 2025) and 21.27% (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Union Pacific | 161.62 Bn | 156.15 Bn | - | 29.04% |
| 2 | Csx | 86.16 Bn | 82.37 Bn | - | 25.46% |
| 3 | Canadian Pacific Kansas City | 74.78 Bn | 74.50 Bn | - | 24.59% |
| 4 | United Parcel Service | 70.01 Bn | 46.94 Bn | - | 2.65% |
| 5 | Norfolk Southern | 69.45 Bn | 64.09 Bn | - | 21.18% |
| 6 | Fedex | 67.46 Bn | 33.40 Bn | - | 6.39% |
| 7 | Delta Air Lines | 54.88 Bn | 37.06 Bn | - | 8.12% |
| 8 | Old Dominion Freight Line | 36.07 Bn | 35.33 Bn | - | 22.56% |
| 9 | Ryanair Holdings | 28.71 Bn | 12.72 Bn | 3.13 Bn | 12.26% |
| 10 | ZTO Express (Cayman) | 15.37 Bn | -767.84 Mn | 550.21 Mn | 20.97% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 20.97% |
| 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% |
ZTO Express (Cayman) Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=ZTO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "ZTO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=ZTO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();