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

ZTO Express (Cayman) has disclosed Operating Expenses across 12 years of filings, most recently posting -$100.0 million for Q1 2026.

• Operating Expenses for Q1 2026 came in at -$100.0 million, down 155.71% year-over-year; the trailing twelve-month figure through Mar 2026 was -$313.3 million (down 51.28% YoY), and the FY2025 annual result was $256.9 million, down 3.35% from the prior year.
• Operating Expenses came in at -$100.0 million for Q1 2026 at ZTO Express (Cayman), down from -$70.4 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of -$32.4 million in Q2 2022 to a low of -$101.8 million in Q1 2024.
• The 5-year median for Operating Expenses is -$58.7 million (2023), against an average of -$61.8 million.
• Across the five-year window, Operating Expenses soared 61.6% in 2025 and slumped 155.71% in 2026, its largest moves.
• ZTO Express (Cayman)'s Operating Expenses stood at -$45.3 million in 2022, then fell by 15.91% to -$52.6 million in 2023, then climbed 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.
• The last three Operating Expenses figures came in at -$100.0 million (Q1 2026), -$70.4 million (Q4 2025), and -$77.4 million (Q3 2025), per Business Quant data.