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ZTO Express (Cayman) Inc
NYSE:ZTO

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ZTO Express (Cayman) Inc
NYSE:ZTO
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Price: 25.14 USD -1.76% Market Closed
Market Cap: $21B

P/S

2.7
Current
4%
Cheaper
vs 3-y average of 2.9

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
2.7
=
Market Cap
$160.9B
/
Revenue
¥49.1B

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
2.7
=
Market Cap
$160.9B
/
Revenue
¥49.1B

Valuation Scenarios

ZTO Express (Cayman) Inc is trading below its 3-year average

If P/S returns to its 3-Year Average (2.9), the stock would be worth $26.16 (4% upside from current price).

Statistics
Positive Scenarios
3/4
Maximum Downside
-77%
Maximum Upside
+34%
Average Downside
10%
Scenario P/S Value Implied Price Upside/Downside
Current Multiple 2.7 $25.14
0%
3-Year Average 2.9 $26.16
+4%
5-Year Average 3.7 $33.6
+34%
Industry Average 0.6 $5.87
-77%
Country Average 2.8 $25.34
+1%

Forward P/S
Today’s price vs future revenue

Today's Market Cap Revenue Forward P/S
$160.9B
/
Jan 2026
¥49.1B
=
2.7
Current
$160.9B
/
Dec 2026
¥56B
=
2.9
Forward
$160.9B
/
Dec 2027
¥61.1B
=
2.6
Forward
$160.9B
/
Dec 2028
¥66B
=
2.4
Forward
$160.9B
/
Dec 2029
¥68.5B
=
2.3
Forward
$160.9B
/
Dec 2030
¥71B
=
2.3
Forward
$160.9B
/
Dec 2031
¥72.7B
=
2.2
Forward
$160.9B
/
Dec 2032
¥74.1B
=
2.2
Forward
$160.9B
/
Dec 2033
¥75.3B
=
2.1
Forward

Forward P/S shows whether today’s P/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
P/S
P/E
All Countries
Close

Market Distribution

Lower than 93% of companies in China
Percentile
7th
Based on 7 736 companies
7th percentile
0.4
Low
0 — 1.5
Typical Range
1.5 — 5.4
High
5.4 —
Distribution Statistics
China
Min 0
30th Percentile 1.5
Median 2.8
70th Percentile 5.4
Max 5 034 353.9

ZTO Express (Cayman) Inc
Glance View

In the bustling landscape of China's logistics and delivery sector, ZTO Express (Cayman) Inc. has carved a formidable presence. Founded in 2002 in Shanghai, ZTO Express capitalized on the maturing e-commerce market, riding the wave of China's digital retail boom. The company operates primarily in the express delivery services, adeptly managing an expansive network that integrates air, rail, and road haulage. It efficiently distributes parcels across China's vast territories, and increasingly to international destinations. ZTO's operational prowess is bolstered by a franchising model—a strategic masterstroke that empowers local entrepreneurs as delivery partners, thus enabling scalability and efficient last-mile delivery without the weighted investment in infrastructure ownership. Central to ZTO's business model is its revenue stream from parcel delivery services, supplemented by logistics and value-added services. The company's income hinges on volume, driven by China's e-commerce giants like Alibaba, which it counts among its key clients. By leveraging technology and analytics, ZTO maximizes route optimization and ensures a seamless logistical workflow, translating into reduced costs and enhanced delivery speeds. This strategic alignment with e-commerce giants, alongside a commitment to innovation and operational efficiency, allows ZTO Express to capture significant market share, making it one of the leading express delivery companies in the world.

ZTO Intrinsic Value
23.15 USD
Overvaluation 8%
Intrinsic Value
Price $25.14
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