ZTO Express (Cayman) Inc. (ZTO)

ZTO Express Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net Income	8,505	8,749	6,809	4,755	4,312	5,674
Depreciation & Amortization	2,975	2,875	2,671	2,222	1,840	1,265
Share-Based Compensation	341.8	254.98	178.98	248.03	264.15	316.67
Other Operating Activities	832.67	1,482	1,821	-4.41	-1,466.08	-951.19
Operating Cash Flow	12,654	13,361	11,479	7,220	4,951	6,304
Operating Cash Flow Growth	-3.49%	16.39%	58.99%	45.84%	-21.47%	43.15%
Capital Expenditures	-11,028.66	-6,526.2	-7,299.78	-9,209.5	-9,150.97	-5,108.15
Acquisitions	-	172.06	206.93	-458.24	-550.4	-19.58
Change in Investments	-	-5,898.61	-8,949.04	911.21	6,152	1,464
Other Investing Activities	2,264	-	-	-	-	-
Investing Cash Flow	-8,764.8	-12,252.75	-16,041.89	-8,756.53	-3,549.34	-3,664.21
Dividends Paid	-	-2,072.51	-1,323.21	-1,353.97	-1,649.31	-1,270.77
Share Issuance / Repurchase	-	-1,006.45	-84.55	-3,810.59	8,543	-762.89
Debt Issued / Paid	-	2,354	8,203	2,026	1,433	0
Other Financing Activities	-1,480.28	-45.36	262.81	234.78	10.35	51.36
Financing Cash Flow	-1,480.28	-769.84	7,058	-2,903.99	8,337	-1,982.31
Exchange Rate Effect	157.38	109.84	338.11	-150.43	-656.14	-3.21
Net Cash Flow	2,566	448.22	2,834	-4,590.73	9,083	654.46
Free Cash Flow	1,625	6,835	4,180	-1,989.29	-4,200.22	1,196
Free Cash Flow Growth	-34.34%	63.53%	-	-	-	141.87%
Free Cash Flow Margin	4.13%	17.79%	11.81%	-6.54%	-16.66%	5.41%
Free Cash Flow Per Share	2.02	8.46	5.16	-2.43	-5.28	1.53

Source: Financials are provided by Nasdaq Data Link and sourced from audited reports submitted to the Securities and Exchange Commission (SEC).