Chinese courier firm ZTO Express Q3 revenue rises on strong retail volumes

ZTO Express (Cayman)

19/11/2025 22:10

Overview

ZTO Q3 revenue increases 11.1% yr/yr to RMB11.9 bln

Adjusted net income rises 5% to RMB2.5 bln

Parcel volume grows 9.8% to 9.6 bln

Outlook

Company revises 2025 parcel volume guidance to 38.2-38.7 bln, up 12.3%-13.8% YoY

ZTO cites macro environment changes for adjusting parcel volume guidance

Result Drivers

RETAIL VOLUME GROWTH - Strong retail volume momentum contributed positively to margins

TRANSPORTATION COST PRODUCTIVITY - Improved load rate and economies of scale reduced unit transportation costs

FOCUS ON QUALITY - ZTO emphasizes quality and market presence amid macro uncertainties

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
RMB 11.86 bln
Q3 Adjusted Net Income
RMB 2.50 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the courier, postal, air freight & land-based logistics peer group is "buy"

Wall Street's median 12-month price target for ZTO Express (Cayman) Inc is $23.10, about 17.9% above its November 19 closing price of $18.97

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nPn6kmtXPa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)