ZTO Express (Cayman) (ZTO) Operating Expenses (2015 - 2026)
ZTO Express (Cayman) (ZTO) posted Operating Expenses of -$100.0 million for Q1 2026, down 42.02% sequentially from -$70.4 million in Q4 2025, and down 155.71% YoY from $179.5 million in Q1 2025.
ZTO Express (Cayman) (ZTO) Operating Expenses (2015 - 2026) Analysis & Trends
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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | United Parcel Service | 86.70 Bn | 82.05 Bn | 19.65 Bn | 21.90 Bn |
| 2 | Fedex | 77.13 Bn | 63.82 Bn | 18.84 Bn | 23.46 Bn |
| 3 | Hunt J B Transport Services | 25.74 Bn | 25.74 Bn | - | 3.24 Bn |
| 4 | Expeditors International Of Washington | 24.52 Bn | 23.49 Bn | 1.09 Bn | 3.15 Bn |
| 5 | ZTO Express (Cayman) | 17.05 Bn | 12.65 Bn | 469.01 Mn | -100.02 Mn |
| 6 | C. H. Robinson Worldwide | 16.85 Bn | 16.70 Bn | 1.11 Bn | 4.68 Bn |
| 7 | Landstar System | 6.28 Bn | 5.93 Bn | 308.86 Mn | 1.37 Bn |
| 8 | GXO Logistics | 5.25 Bn | 4.48 Bn | 508.00 Mn | 389.00 Mn |
| 9 | Pitney Bowes | 2.23 Bn | 1.95 Bn | 296.14 Mn | 386.01 Mn |
| 10 | Cryoport | 851.47 Mn | 454.78 Mn | 22.82 Mn | 32.86 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -100.02 Mn |
| Dec 31, 2025 | -70.43 Mn |
| Sep 30, 2025 | -77.39 Mn |
| Jun 30, 2025 | -65.51 Mn |
| Mar 31, 2025 | -39.12 Mn |
| Dec 31, 2024 | -42.00 Mn |
| Sep 30, 2024 | -70.26 Mn |
| Jun 30, 2024 | -55.77 Mn |
| Mar 31, 2024 | -101.85 Mn |
| Dec 31, 2023 | -52.56 Mn |
| Sep 30, 2023 | -38.77 Mn |
| Jun 30, 2023 | -58.70 Mn |
| Mar 31, 2023 | -83.43 Mn |
| Dec 31, 2022 | -45.34 Mn |
| Sep 30, 2022 | -37.90 Mn |
| Jun 30, 2022 | -32.44 Mn |
| Mar 31, 2022 | -79.38 Mn |
| Dec 31, 2021 | -30.90 Mn |
| Sep 30, 2021 | -32.25 Mn |
| Jun 30, 2021 | -33.76 Mn |