ZTO Express (Cayman) (ZTO) Operating Expenses (2015 - 2026)

ZTO Express (Cayman) has reported Operating Expenses for 12 years, with the latest figure at -$100.0 million in Q1 2026.

• Quarterly Operating Expenses fell 155.71% year-over-year to -$100.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$313.3 million (down 51.28% YoY) and the FY2025 annual result came in at $256.9 million, down 3.35% from the prior year.
• Operating Expenses declined to -$100.0 million in Q1 2026 per ZTO's latest filing, from -$70.4 million in the prior quarter.
• Over five years, Operating Expenses peaked at -$32.4 million in Q2 2022 and troughed at -$101.8 million in Q1 2024.
• A 5-year average of -$61.8 million and a median of -$58.7 million in 2023 frame the typical range for Operating Expenses.
• The sharpest annual moves came in 2025 and 2026: Operating Expenses surged 61.6% in 2025, then slumped 155.71% in 2026.
• Over 5 years, Operating Expenses stood at -$45.3 million in 2022, then decreased by 15.91% to -$52.6 million in 2023, then increased by 20.09% to -$42.0 million in 2024, then slumped by 67.69% to -$70.4 million in 2025, then sank by 42.02% to -$100.0 million in 2026.
• According to Business Quant data, Operating Expenses over the past three periods registered -$100.0 million, -$70.4 million, and -$77.4 million for Q1 2026, Q4 2025, and Q3 2025 respectively.