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ZTO Express is China’s largest express delivery company by parcel volume, with a volume share of 22.1% in 2022. It operates a network partner model where it provides line-haul transportation and sorting services, while its local network partners provide first-mile pickup and last-mile delivery services under the ZTO brand name. Headquartered in Shanghai, the company was founded in 2002 by Meisong Lai, who remains chair, CEO, and its major shareholder with 77% voting rights as of June 30, 2023. ZTO’s strategic shareholder is leading China e-commerce company Alibaba Group with around an 11.7% interest.
2002
24.5K+
LTM Revenue $6.4B
LTM EBITDA $2.1B
$13.3B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
ZTO Express has a last 12-month revenue (LTM) of $6.4B and a last 12-month EBITDA of $2.1B.
In the most recent fiscal year, ZTO Express achieved revenue of $5.7B and an EBITDA of $1.9B.
ZTO Express expects next 12-month revenue of XXX and NTM EBITDA of XXX
See ZTO Express valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $6.4B | XXX | $5.7B | XXX | XXX | XXX |
| Gross Profit | $1.9B | XXX | $1.8B | XXX | XXX | XXX |
| Gross Margin | 30% | XXX | 31% | XXX | XXX | XXX |
| EBITDA | $2.1B | XXX | $1.9B | XXX | XXX | XXX |
| EBITDA Margin | 33% | XXX | 34% | XXX | XXX | XXX |
| EBIT | $1.6B | XXX | $1.5B | XXX | XXX | XXX |
| EBIT Margin | 25% | XXX | 27% | XXX | XXX | XXX |
| Net Profit | $1.2B | XXX | $1.1B | XXX | XXX | XXX |
| Net Margin | 19% | XXX | 20% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | $424M | XXX | XXX | XXX |
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As of May 30, 2025, ZTO Express's stock price is HKD 138 (or $18).
ZTO Express has current market cap of HKD 110B (or $14.1B), and EV of HKD 104B (or $13.3B).
See ZTO Express trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $13.3B | $14.1B | XXX | XXX | XXX | XXX | $1.53 |
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Start Free TrialAs of May 30, 2025, ZTO Express has market cap of $14.1B and EV of $13.3B.
ZTO Express's trades at 2.3x EV/Revenue multiple, and 6.9x EV/EBITDA.
Equity research analysts estimate ZTO Express's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
ZTO Express has a P/E ratio of 11.3x.
See valuation multiples for ZTO Express and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $14.1B | XXX | $14.1B | XXX | XXX | XXX |
| EV (current) | $13.3B | XXX | $13.3B | XXX | XXX | XXX |
| EV/Revenue | 2.1x | XXX | 2.3x | XXX | XXX | XXX |
| EV/EBITDA | 6.3x | XXX | 6.9x | XXX | XXX | XXX |
| EV/EBIT | 8.2x | XXX | 8.8x | XXX | XXX | XXX |
| EV/Gross Profit | 7.0x | XXX | n/a | XXX | XXX | XXX |
| P/E | 11.3x | XXX | 12.5x | XXX | XXX | XXX |
| EV/FCF | 15.2x | XXX | 18.8x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialZTO Express's last 12 month revenue growth is 14%
ZTO Express's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $10K for the same period.
ZTO Express's rule of 40 is 50% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
ZTO Express's rule of X is 67% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for ZTO Express and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 14% | XXX | 18% | XXX | XXX | XXX |
| EBITDA Margin | 33% | XXX | 34% | XXX | XXX | XXX |
| EBITDA Growth | 5% | XXX | 10% | XXX | XXX | XXX |
| Rule of 40 | 50% | XXX | 48% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 67% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $10K | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 4% | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Ferrari Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Inpost | XXX | XXX | XXX | XXX | XXX | XXX |
| PostNL | XXX | XXX | XXX | XXX | XXX | XXX |
| Toppoint | XXX | XXX | XXX | XXX | XXX | XXX |
| Brambles | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
ZTO Express acquired XXX companies to date.
Last acquisition by ZTO Express was XXXXXXXX, XXXXX XXXXX XXXXXX . ZTO Express acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Start Free Trial| When was ZTO Express founded? | ZTO Express was founded in 2002. |
| Where is ZTO Express headquartered? | ZTO Express is headquartered in Hong Kong. |
| How many employees does ZTO Express have? | As of today, ZTO Express has 24.5K+ employees. |
| Who is the CEO of ZTO Express? | ZTO Express's CEO is Mr. Meisong Lai. |
| Is ZTO Express publicy listed? | Yes, ZTO Express is a public company listed on HKG. |
| What is the stock symbol of ZTO Express? | ZTO Express trades under 02057 ticker. |
| When did ZTO Express go public? | ZTO Express went public in 2020. |
| Who are competitors of ZTO Express? | Similar companies to ZTO Express include e.g. Ferrari Group, Inpost, PostNL, Toppoint. |
| What is the current market cap of ZTO Express? | ZTO Express's current market cap is $14.1B |
| What is the current revenue of ZTO Express? | ZTO Express's last 12 months revenue is $6.4B. |
| What is the current revenue growth of ZTO Express? | ZTO Express revenue growth (NTM/LTM) is 14%. |
| What is the current EV/Revenue multiple of ZTO Express? | Current revenue multiple of ZTO Express is 2.1x. |
| Is ZTO Express profitable? | Yes, ZTO Express is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of ZTO Express? | ZTO Express's last 12 months EBITDA is $2.1B. |
| What is ZTO Express's EBITDA margin? | ZTO Express's last 12 months EBITDA margin is 33%. |
| What is the current EV/EBITDA multiple of ZTO Express? | Current EBITDA multiple of ZTO Express is 6.3x. |
| What is the current FCF of ZTO Express? | ZTO Express's last 12 months FCF is $875M. |
| What is ZTO Express's FCF margin? | ZTO Express's last 12 months FCF margin is 14%. |
| What is the current EV/FCF multiple of ZTO Express? | Current FCF multiple of ZTO Express is 15.2x. |
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