ZTO Express Ratios and Metrics

Market cap in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 18, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	98,726	90,822	96,565	83,093	115,023	127,115
Market Cap Growth	4.71%	-5.95%	16.21%	-27.76%	-9.51%	0.45%
Enterprise Value	88,599	81,332	92,954	83,747	110,256	120,805
Last Close Price	32.88	28.95	28.68	23.52	31.97	-
PE Ratio	13.81	12.70	12.93	13.88	22.04	30.48
PS Ratio	2.55	2.35	2.57	3.16	4.24	4.77
PB Ratio	1.87	1.72	1.82	2.01	2.76	2.96
P/TBV Ratio	2.26	2.08	2.21	2.43	3.39	3.71
P/FCF Ratio	-	9.64	18.32	17.77	34.02	-
P/OCF Ratio	10.47	9.64	9.97	9.09	13.07	20.07
EV/Sales Ratio	2.39	2.10	2.48	3.19	4.07	4.53
EV/EBITDA Ratio	8.17	7.46	7.40	9.44	13.82	17.83
EV/EBIT Ratio	11.10	9.86	9.30	12.14	18.59	25.03
EV/FCF Ratio	-	8.63	17.63	17.91	32.61	-
Debt / Equity Ratio	0.17	0.17	0.28	0.26	0.24	0.09
Debt / EBITDA Ratio	0.80	0.80	1.14	1.15	1.19	0.52
Debt / FCF Ratio	0.96	0.96	2.79	2.26	2.93	-
Net Debt / Equity Ratio	-0.21	-0.21	-0.08	-0.07	-0.08	-0.17
Net Debt / EBITDA Ratio	-1.02	-1.02	-0.35	-0.34	-0.45	-1.09
Net Debt / FCF Ratio	-1.18	-1.18	-0.83	-0.65	-1.05	7.41
Asset Turnover	0.54	0.54	0.49	0.46	0.50	0.50
Inventory Turnover	929.78	929.78	917.23	779.95	426.53	350.16
Quick Ratio	1.20	1.20	0.86	1.03	1.14	1.07
Current Ratio	1.49	1.49	1.07	1.34	1.49	1.44
Return on Equity (ROE)	14.23%	14.23%	14.46%	15.26%	12.88%	9.59%
Return on Assets (ROA)	7.14%	7.14%	8.16%	7.55%	6.84%	5.64%
Return on Invested Capital (ROIC)	16.47%	15.72%	15.77%	15.63%	13.76%	12.29%
Return on Capital Employed (ROCE)	15.40%	15.40%	18.40%	14.70%	12.50%	11.10%
Earnings Yield	7.24%	7.87%	7.74%	7.21%	4.54%	3.28%
FCF Yield	-	10.38%	5.46%	5.63%	2.94%	-0.79%
Dividend Yield	2.55%	13.13%	15.10%	12.79%	-	-
Payout Ratio	-	-	63.58%	23.69%	19.43%	28.48%
Buyback Yield / Dilution	2.10%	2.10%	0.06%	-2.28%	-0.04%	-2.99%
Total Shareholder Return	4.66%	15.23%	15.16%	10.52%	-0.04%	-2.99%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.