ZTO Express (Cayman) Inc. (HKG:2057)
Hong Kong · Delayed Price · Currency is HKD 178.20
-2.20 (-1.22%)
Aug 14, 2026, 4:08 PM HKT
ZTO Express Cash Flow Statement
Financials in millions CNY. Fiscal year is January - December.
Millions CNY. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 |
Net Income | 9,206 | 9,081 | 8,817 | 8,749 | 6,809 | 4,755 |
Depreciation & Amortization | 3,514 | 3,379 | 3,023 | 2,875 | 2,671 | 2,222 |
Other Amortization | 28.61 | 28.61 | 42.52 | 40.47 | 12.63 | - |
Loss (Gain) From Sale of Assets | 71.35 | 71.35 | 179.21 | 10.16 | 41.52 | 32.13 |
Asset Writedown & Restructuring Costs | 130.43 | 130.43 | 23.15 | 76.62 | - | - |
Loss (Gain) From Sale of Investments | -37.03 | -37.03 | 941.89 | -5.49 | -43.27 | -2.36 |
Loss (Gain) on Equity Investments | -87.39 | -87.39 | -57.41 | -4.36 | -5.84 | 32.42 |
Stock-Based Compensation | 229.25 | 229.25 | 318.69 | 254.98 | 178.98 | 248.03 |
Provision & Write-off of Bad Debts | 66.8 | 66.8 | 114.69 | 142.13 | 134.44 | 36.35 |
Other Operating Activities | -342.75 | -508.8 | 178.35 | -94.83 | -98.97 | -242.03 |
Change in Accounts Receivable | 229.04 | 229.04 | -941.51 | 244.42 | -14.88 | -209.86 |
Change in Inventory | 68.21 | 68.21 | 27.87 | 40.04 | -198.37 | -120.8 |
Change in Accounts Payable | 85.6 | 85.6 | -93.62 | 364.58 | 528.3 | 354.48 |
Change in Unearned Revenue | 264.36 | 264.36 | -180.58 | 371.04 | 148.14 | 113.8 |
Change in Income Taxes | -200.24 | -200.24 | 155.63 | 109.11 | 135.88 | 53.73 |
Change in Other Net Operating Assets | -831.89 | -831.89 | -1,120 | 187.89 | 1,181 | -52.27 |
Operating Cash Flow | 12,394 | 11,968 | 11,429 | 13,361 | 11,479 | 7,220 |
Operating Cash Flow Growth | 5.38% | 4.72% | -14.46% | 16.39% | 58.99% | 45.84% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 |
Capital Expenditures | -5,214 | -5,214 | -5,208 | -6,529 | -7,068 | -8,360 |
Sale of Property, Plant & Equipment | 197.67 | 197.67 | 164.37 | 143.58 | 112.95 | 118.28 |
Cash Acquisitions | -86.93 | -86.93 | - | - | - | - |
Divestitures | 220.41 | 220.41 | -3.18 | 63 | 230.8 | -100.71 |
Sale (Purchase) of Intangibles | -860.09 | -860.09 | -693.97 | -140.95 | -344.99 | -967.28 |
Investment in Securities | 765.68 | 765.68 | -441.76 | -5,899 | -8,949 | 911.21 |
Other Investing Activities | -3,866 | 150.44 | 201.97 | 109.06 | -23.87 | -357.53 |
Investing Cash Flow | -8,843 | -4,827 | -5,981 | -12,253 | -16,042 | -8,757 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 |
Short-Term Debt Issued | - | 18,322 | 19,713 | 12,279 | 7,670 | 6,945 |
Long-Term Debt Issued | - | 216 | - | - | 6,417 | - |
Total Debt Issued | 18,538 | 18,538 | 19,713 | 12,279 | 14,087 | 6,945 |
Short-Term Debt Repaid | - | -16,900 | -17,966 | -9,925 | -5,884 | -4,919 |
Long-Term Debt Repaid | - | -7,181 | - | - | - | - |
Total Debt Repaid | -24,081 | -24,081 | -17,966 | -9,925 | -5,884 | -4,919 |
Net Debt Issued (Repaid) | -5,543 | -5,543 | 1,747 | 2,354 | 8,203 | 2,026 |
Repurchase of Common Stock | -1,253 | -1,253 | -1,157 | -1,006 | -84.55 | -3,811 |
Common Dividends Paid | -3,755 | -3,755 | -5,605 | -2,073 | -1,323 | -1,354 |
Other Financing Activities | 6,076 | -15.87 | 20.34 | -45.36 | 262.81 | 234.78 |
Financing Cash Flow | -4,475 | -10,567 | -4,995 | -769.84 | 7,058 | -2,904 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 |
Foreign Exchange Rate Adjustments | -95.95 | -58.34 | 26.11 | 109.84 | 338.11 | -150.43 |
Net Cash Flow | -1,020 | -3,484 | 479.64 | 448.22 | 2,834 | -4,591 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 |
Free Cash Flow | 7,180 | 6,754 | 6,221 | 6,832 | 4,412 | -1,140 |
Free Cash Flow Growth | 9.57% | 8.57% | -8.94% | 54.87% | - | - |
Free Cash Flow Margin | 13.94% | 13.76% | 14.05% | 17.78% | 12.47% | -3.75% |
Free Cash Flow Per Share | 8.84 | 8.23 | 7.42 | 8.14 | 5.38 | -1.39 |
Levered Free Cash Flow | 3,526 | 4,186 | 3,046 | 3,788 | 709.16 | -3,482 |
Unlevered Free Cash Flow | 3,641 | 4,313 | 3,215 | 3,928 | 815.6 | -3,402 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 |
Cash Interest Paid | 260.92 | 260.92 | 295.62 | 249.06 | 177.46 | 126.81 |
Cash Income Tax Paid | 2,642 | 2,642 | 2,397 | 1,672 | 1,253 | 1,140 |
Change in Working Capital | -384.92 | -384.92 | -2,152 | 1,317 | 1,780 | 139.09 |