ZTO Express (Cayman) Inc. (ZTO) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 | Q4'20 | Q3'20 |
|---|
| Total Current Assets | 34.52B | 30.57B | 30.35B | 30.16B | 27.94B | 26.74B | 26.95B | 24.73B | 23.34B | 25.28B | 24.48B | 27.76B | 21.18B | 20.04B | 18.67B | 18.49B | 20.6B | 21.52B | 22.32B | 25.92B |
| Cash & Short-Term Investments | 26.52B | 23.02B | 22.31B | 22.92B | 20.44B | 19.62B | 19.79B | 16.94B | 15.74B | 18.43B | 17.45B | 21.55B | 15.14B | 13.9B | 12.57B | 12.72B | 15.24B | 16.6B | 17.9B | 21.21B |
| Cash Only | 13.29B | 12.42B | 13.47B | 11.7B | 10.54B | 12.58B | 12.33B | 9.28B | 7.78B | 9.56B | 11.69B | 14.59B | 9.93B | 9.9B | 9.72B | 10.36B | 12.1B | 11.07B | 14.21B | 16.41B |
| Short-Term Investments | 13.23B | 10.6B | 8.85B | 11.21B | 9.9B | 7.04B | 7.45B | 7.65B | 7.96B | 8.88B | 5.75B | 6.95B | 5.21B | 4B | 2.85B | 2.36B | 3.14B | 5.53B | 3.69B | 4.8B |
| Accounts Receivable | 2.37B | 2.09B | 6.27B | 2.15B | 1.93B | 1.74B | 4.7B | 2.4B | 658.41M | 742.95M | 4.58B | 1.07B | 986.12M | 1B | 4.57B | 851.67M | 839.8M | 776.59M | 3.08B | 670.08M |
| Days Sales Outstanding | 17.15 | 34.53 | 29.98 | 17.6 | 15.56 | 29.4 | 30.75 | 15.52 | 6.55 | 26.67 | 26.35 | 10.59 | 10.46 | 31.75 | 27.07 | 10.53 | 10.04 | 26.83 | 20.9 | 9.1 |
| Inventory | 47.9M | 35.52M | 38.57M | 27.65M | 28.09M | 41.45M | 28.07M | 27.59M | 26.64M | 29.14M | 40.54M | 64.67M | 28.75M | 59.2M | 82.96M | 49.99M | 39.59M | 51.83M | 53.07M | 49.93M |
| Days Inventory Outstanding | 0.43 | 0.41 | 0.33 | 0.35 | 0.45 | 0.45 | 0.34 | 0.39 | 0.39 | 0.49 | 0.68 | 0.66 | 0.62 | 1.02 | 0.88 | 0.71 | 0.74 | 0.88 | 0.74 | 1 |
| Other Current Assets | 4.83B | 4.56B | 675.89M | 4.19B | 4.68B | 4.43B | 1.41B | 4.45B | 6.06B | 5.25B | 1.3B | 1.22B | 1.32B | 1.1B | 489.81M | 1.01B | 1.04B | 935.58M | 509.44M | 1.05B |
| Total Non-Current Assets | 60.1B | 62.58B | 61.99B | 63.16B | 63.17B | 63.14B | 61.51B | 62.74B | 58.72B | 55.41B | 54.05B | 49.83B | 47.33B | 45.31B | 44.11B | 42.17B | 40.67B | 38.59B | 36.88B | 32.98B |
| Property, Plant & Equipment | 35.35B | 35.08B | 34.48B | 34.16B | 33.7B | 33.54B | 32.85B | 32.52B | 31.7B | 30.59B | 29.62B | 28.79B | 27.66B | 26.67B | 25.83B | 24.16B | 22.22B | 20.16B | 19.44B | 17.32B |
| Fixed Asset Turnover | 0.34x | 0.31x | 0.38x | 0.31x | 0.32x | 0.30x | 0.32x | 0.28x | 0.31x | 0.30x | 0.34x | 0.32x | 0.32x | 0.30x | 0.37x | 0.32x | 0.35x | 0.33x | 0.45x | 0.41x |
| Goodwill | 4.16B | 4.24B | 4.24B | 4.24B | 4.24B | 4.24B | 4.24B | 4.24B | 4.24B | 4.24B | 4.24B | 4.24B | 4.24B | 4.24B | 4.24B | 4.24B | 4.24B | 4.24B | 4.24B | 4.24B |
| Intangible Assets | 6.28B | 6.32B | 6.19B | 6.12B | 5.8B | 5.7B | 5.66B | 5.67B | 5.7B | 5.69B | 5.47B | 5.4B | 5.47B | 5.38B | 5.37B | 5.14B | 4.96B | 4.78B | 4.4B | 4.15B |
| Long-Term Investments | 10.94B | 13.41B | 13.89B | 15.6B | 16.13B | 16.4B | 15.63B | 17.8B | 14.9B | 12.09B | 11.27B | 7.54B | 6.25B | 5.26B | 4.94B | 4.91B | 5.43B | 5.21B | 5.07B | 4.74B |
| Other Non-Current Assets | 2.26B | 2.43B | 2.2B | 2.32B | 2.45B | 2.31B | 2.25B | 1.54B | 1.29B | 2B | 2.69B | 2.87B | 2.8B | 2.79B | 2.79B | 2.9B | 2.88B | 3.22B | 3.01B | 1.82B |
| Total Assets | 94.62B | 93.15B | 92.34B | 93.32B | 91.1B | 89.88B | 88.47B | 87.46B | 82.05B | 80.7B | 78.52B | 77.59B | 68.51B | 65.35B | 62.77B | 60.66B | 61.27B | 60.11B | 59.2B | 58.9B |
| Asset Turnover | 0.13x | 0.12x | 0.14x | 0.12x | 0.12x | 0.11x | 0.12x | 0.11x | 0.12x | 0.11x | 0.13x | 0.12x | 0.13x | 0.12x | 0.15x | 0.12x | 0.12x | 0.11x | 0.14x | 0.12x |
| Asset Growth % | 3.86% | 3.64% | 4.38% | 6.7% | 11.03% | 11.37% | 12.66% | 12.72% | 19.78% | 23.49% | 25.09% | 27.91% | 11.81% | 8.71% | 6.03% | 2.99% | 26.38% | 29.4% | 29.01% | 38.66% |
| Total Current Liabilities | 28.45B | 29.06B | 28.27B | 31.28B | 22.09B | 23.26B | 20.06B | 21.13B | 17.73B | 19.1B | 16.41B | 17.5B | 16.98B | 15.88B | 13B | 12.75B | 11.29B | 11.3B | 9.35B | 9.86B |
| Accounts Payable | 2.42B | 2.54B | 2.46B | 2.11B | 2.2B | 2.33B | 2.56B | 1.99B | 1.93B | 2.06B | 2.2B | 1.78B | 1.91B | 1.72B | 1.96B | 1.63B | 1.6B | 1.55B | 1.64B | 1.47B |
| Days Payables Outstanding | 25.38 | 27.46 | 22.98 | 27.03 | 29.04 | 31.99 | 27.93 | 28.31 | 28.19 | 29.68 | 25.8 | 26.11 | 25.59 | 26.32 | 23.67 | 25.47 | 25.34 | 26.68 | 22.32 | 22.57 |
| Short-Term Debt | 18.2B | 16.53B | 16.78B | 17.75B | 10.39B | 8.04B | 7.77B | 9.59B | 6.7B | 6.8B | 5.59B | 7.19B | 7.3B | 6.1B | 3.63B | 4.78B | 3.74B | 3.02B | 1.76B | 2.8B |
| Deferred Revenue (Current) | 1.66B | 1.54B | 1.57B | 1.66B | 1.64B | 1.67B | 1.75B | 1.6B | 1.44B | 1.34B | 1.37B | 1.39B | 1.41B | 1.19B | 1.23B | 1.27B | 1.19B | 1.2B | 1.12B | 1.14B |
| Other Current Liabilities | 5.51B | 5.6B | 1.45B | 7.13B | 7.21B | 6.88B | 2.73B | 6.9B | 6.72B | 6.19B | 2.55B | 6.38B | 5.93B | 5.29B | 1.69B | 4.79B | 4.41B | 3.87B | 1.27B | 4.08B |
| Current Ratio | 1.21x | 1.05x | 1.07x | 0.96x | 1.26x | 1.15x | 1.34x | 1.17x | 1.32x | 1.32x | 1.49x | 1.59x | 1.25x | 1.26x | 1.44x | 1.45x | 1.82x | 1.90x | 2.39x | 2.63x |
| Quick Ratio | 1.21x | 1.05x | 1.07x | 0.96x | 1.26x | 1.15x | 1.34x | 1.17x | 1.31x | 1.32x | 1.49x | 1.58x | 1.25x | 1.26x | 1.43x | 1.45x | 1.82x | 1.90x | 2.38x | 2.62x |
| Cash Conversion Cycle | -7.8 | 7.48 | 7.33 | -9.08 | -13.03 | -2.13 | 3.17 | -12.39 | -21.25 | -2.53 | 1.23 | -14.86 | -14.51 | 6.45 | 4.28 | -14.23 | -14.57 | 1.02 | -0.68 | -12.46 |
| Total Non-Current Liabilities | 1.31B | 1.23B | 1.39B | 915.17M | 8.04B | 8.22B | 8.12B | 8.01B | 7.99B | 7.59B | 7.65B | 7.72B | 790.95M | 825.08M | 848.45M | 846.09M | 806.04M | 767.06M | 757.47M | 673.9M |
| Long-Term Debt | 180M | 17M | 0 | 0 | 7.22B | 7.16B | 7.03B | 7.21B | 7.16B | 6.77B | 6.79B | 6.99B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 321.86M | 363.22M | 377.72M | 374.06M | 328.91M | 404.07M | 455.88M | 448.5M | 487.27M | 482.02M | 510.35M | 468.35M | 518.55M | 539.25M | 556.09M | 597.76M | 549.69M | 520.76M | 502.48M | 459.52M |
| Deferred Tax Liabilities | 808.35M | 847.07M | 1.01B | 541.12M | 495.41M | 661.05M | 638.2M | 346.25M | 347.49M | 339.76M | 346.47M | 262.44M | 272.4M | 285.82M | 292.36M | 248.34M | 256.35M | 246.3M | 254.99M | 214.38M |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 29.76B | 30.28B | 29.67B | 32.2B | 30.13B | 31.48B | 28.18B | 29.13B | 25.72B | 26.69B | 24.05B | 25.22B | 17.77B | 16.71B | 13.84B | 13.6B | 12.1B | 12.06B | 10.11B | 10.53B |
| Total Debt | 18.87B | 17.08B | 17.35B | 18.29B | 18.09B | 15.79B | 15.44B | 17.49B | 14.6B | 14.29B | 13.12B | 14.87B | 8.04B | 6.87B | 4.44B | 5.62B | 4.52B | 3.78B | 2.51B | 3.53B |
| Net Debt | 5.58B | 4.67B | 3.88B | 6.59B | 7.55B | 3.2B | 3.1B | 8.2B | 6.82B | 4.73B | 1.43B | 281.66M | -1.89B | -3.03B | -5.28B | -4.74B | -7.58B | -7.3B | -11.7B | -12.88B |
| Debt / Equity | 0.29x | 0.27x | 0.28x | 0.30x | 0.30x | 0.27x | 0.26x | 0.30x | 0.26x | 0.26x | 0.24x | 0.28x | 0.16x | 0.14x | 0.09x | 0.12x | 0.09x | 0.08x | 0.05x | 0.07x |
| Debt / EBITDA | 5.62x | 5.29x | 4.08x | 6.21x | 4.56x | 5.17x | 4.37x | 5.52x | 4.07x | 5.42x | 4.14x | 5.24x | 3.03x | 3.93x | 1.67x | 2.96x | 2.30x | 3.27x | 1.20x | 2.14x |
| Net Debt / EBITDA | 1.66x | 1.44x | 0.91x | 2.24x | 1.90x | 1.05x | 0.88x | 2.59x | 1.90x | 1.79x | 0.45x | 0.10x | -0.71x | -1.73x | -1.99x | -2.49x | -3.87x | -6.32x | -5.59x | -7.81x |
| Interest Coverage | 26.62x | 38.28x | 49.64x | 44.87x | 29.27x | 24.81x | 47.22x | 32.15x | 44.00x | 30.51x | 35.11x | 75.22x | 95.67x | 20.35x | 85.62x | 27.73x | 46.29x | 46.45x | 130.65x | 87.65x |
| Total Equity | 64.86B | 62.87B | 62.67B | 61.12B | 60.97B | 58.39B | 60.28B | 58.33B | 56.33B | 54B | 54.47B | 52.37B | 50.74B | 48.64B | 48.93B | 47.07B | 49.17B | 48.05B | 49.1B | 48.37B |
| Equity Growth % | 6.37% | 7.66% | 3.97% | 4.79% | 8.24% | 8.12% | 10.66% | 11.38% | 11.03% | 11.02% | 11.33% | 11.27% | 3.19% | 1.24% | -0.35% | -2.7% | 26.09% | 27.93% | 27.85% | 32.93% |
| Book Value per Share | 77.95 | 75.56 | 74.89 | 72.91 | 72.61 | 69.83 | 71.99 | 69.58 | 67.05 | 64.25 | 64.75 | 63.78 | 61.79 | 60.15 | 60.52 | 57.65 | 59.45 | 57.99 | 58.94 | 61.63 |
| Total Shareholders' Equity | 64.2B | 62.21B | 62.06B | 60.59B | 60.43B | 57.84B | 59.8B | 57.9B | 55.9B | 53.56B | 54.03B | 51.91B | 50.32B | 48.42B | 48.64B | 46.92B | 49.06B | 47.91B | 48.98B | 48.26B |
| Common Stock | 519K | 519K | 523K | 523K | 525K | 525K | 525K | 527K | 528K | 533K | 535K | 535K | 535K | 535K | 535K | 534K | 546K | 553K | 553K | 548K |
| Retained Earnings | 40.35B | 38.42B | 39.1B | 36.72B | 36.63B | 34.02B | 36.3B | 34.41B | 32.32B | 30.76B | 29.46B | 27.3B | 25.36B | 23.6B | 22.72B | 20.95B | 22.16B | 21.54B | 21.04B | 19.75B |
| Treasury Stock | -271.03M | -271.03M | -1.13B | -337.54M | -377.16M | -377.16M | -510.99M | -545.81M | -572.25M | -1.86B | -2.06B | -1.98B | -1.98B | -2.02B | -2.07B | -2.07B | -2.02B | -3.06B | -2.58B | -1.35B |
| Accumulated OCI | -244.16M | -285.99M | -294.69M | -170.59M | -308.28M | -273.05M | -190.72M | -261.4M | -228.57M | -67.4M | -86.67M | -122.42M | -156.96M | -254.29M | -242.1M | -224.5M | -179.83M | -77.66M | -95.57M | 502.21M |
| Minority Interest | 658.2M | 651.35M | 612.44M | 530.67M | 547.2M | 547.03M | 478.66M | 434.3M | 429.25M | 438.4M | 443.92M | 455.09M | 419.4M | 225.82M | 290.33M | 145.6M | 109.44M | 139.31M | 120.89M | 111.59M |