Skip to main content
logo
ZTO Express (Cayman) Inc. (ZTO)
NYSE: ZTO · Real-Time Price · USD
21.19
-0.13 (-0.61%)
At close: Aug 27, 2026, 4:00 PM EDT
21.03
-0.16 (-0.76%)
After-hours: Aug 27, 2026, 7:37 PM EDT

ZTO Express Cash Flow Statement

Millions CNY. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Income
10,3189,0818,8178,7496,8094,755
Depreciation & Amortization
3,5303,3793,0232,8752,6712,222
Other Amortization
28.6128.6142.5240.4712.63-
Loss (Gain) From Sale of Assets
71.3571.35179.2110.1641.5232.13
Asset Writedown & Restructuring Costs
130.43130.4323.1576.62--
Loss (Gain) From Sale of Investments
-37.03-37.03941.89-5.49-43.27-2.36
Loss (Gain) on Equity Investments
-87.39-87.39-57.41-4.36-5.8432.42
Stock-Based Compensation
229.25229.25318.69254.98178.98248.03
Provision & Write-off of Bad Debts
66.866.8114.69142.13134.4436.35
Other Operating Activities
924.15-508.8178.35-94.83-98.97-242.03
Change in Accounts Receivable
229.04229.04-941.51244.42-14.88-209.86
Change in Inventory
68.2168.2127.8740.04-198.37-120.8
Change in Accounts Payable
85.685.6-93.62364.58528.3354.48
Change in Unearned Revenue
264.36264.36-180.58371.04148.14113.8
Change in Income Taxes
-200.24-200.24155.63109.11135.8853.73
Change in Other Net Operating Assets
-831.89-831.89-1,120187.891,181-52.27
Operating Cash Flow
14,79011,96811,42913,36111,4797,220
Operating Cash Flow Growth
41.54%4.72%-14.46%16.39%58.99%45.84%

Investing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Capital Expenditures
-4,950-5,214-5,208-6,529-7,068-8,360
Sale of Property, Plant & Equipment
197.67197.67164.37143.58112.95118.28
Cash Acquisitions
-116.91-86.93----
Divestitures
220.41220.41-3.1863230.8-100.71
Sale (Purchase) of Intangibles
-811.89-860.09-693.97-140.95-344.99-967.28
Investment in Securities
-5,836765.68-441.76-5,899-8,949911.21
Other Investing Activities
87.97150.44201.97109.06-23.87-357.53
Investing Cash Flow
-11,210-4,827-5,981-12,253-16,042-8,757

Financing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Short-Term Debt Issued
-18,32219,71312,2797,6706,945
Long-Term Debt Issued
-216--6,417-
Total Debt Issued
28,25118,53819,71312,27914,0876,945
Short-Term Debt Repaid
--16,900-17,966-9,925-5,884-4,919
Long-Term Debt Repaid
--7,181----
Total Debt Repaid
-24,571-24,081-17,966-9,925-5,884-4,919
Net Debt Issued (Repaid)
3,680-5,5431,7472,3548,2032,026
Issuance of Common Stock
3.48-----
Repurchase of Common Stock
-6,314-1,253-1,157-1,006-84.55-3,811
Common Dividends Paid
-3,774-3,755-5,605-2,073-1,323-1,354
Other Financing Activities
-386.87-15.8720.34-45.36262.81234.78
Financing Cash Flow
-6,791-10,567-4,995-769.847,058-2,904

Net Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Foreign Exchange Rate Adjustments
-160.87-58.3426.11109.84338.11-150.43
Net Cash Flow
-3,371-3,484479.64448.222,834-4,591

Free Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Free Cash Flow
9,8396,7546,2216,8324,412-1,140
Free Cash Flow Growth
98.28%8.57%-8.94%54.87%--
Free Cash Flow Margin
18.15%13.76%14.05%17.78%12.47%-3.75%
Free Cash Flow Per Share
12.168.237.428.145.38-1.39
Levered Free Cash Flow
6,4334,1863,0463,788709.16-3,482
Unlevered Free Cash Flow
6,5314,3133,2153,928815.6-3,402

Additional Metrics

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Jun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash Interest Paid
260.92260.92295.62249.06177.46126.81
Cash Income Tax Paid
2,6422,6422,3971,6721,2531,140
Change in Working Capital
-384.92-384.92-2,1521,3171,780139.09
SEC Filings: 10-K · 10-Q