$ZTO reported results for the quarter ended May 19, 2026. EPS came in at 2.95, up from 2.71 in the same period a year earlier — a year-over-year increase of 8.9%. Revenue grew 22.0% year over year, a notably faster pace than the bottom-line expansion, which suggests the company absorbed higher costs or reinvested aggressively during the period.
No guidance commentary is available at this time.
What it means
The revenue acceleration is the headline here. A 22.0% top-line jump for a logistics operator of $ZTO's scale points to strong volume throughput in China's express delivery market. The gap between revenue growth (22.0%) and EPS growth (8.9%) is worth watching — it tells you that not all of that revenue flowed through to the bottom line, but a 17.9% net margin shows the business still converts a meaningful share of sales into profit.
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The FCF yield of 33.9% stands out as one of the more compelling figures in the data set. That level of free cash generation relative to market value suggests the business is producing substantial cash well above what its earnings multiple alone implies. Combined with a trailing P/E of 13.5503 and a forward P/E of 12.4, $ZTO trades at a discount to many peers in the broader industrials space.
The ACCE score sits at 69/100. Breaking that down: Value scores 87, Growth 72, Quality 71, and Momentum 47. The low Momentum score is the soft spot — the stock has returned 14.7% over the past year, but near-term price action has not kept pace with the fundamental picture. The analyst consensus target of $29.15 implies meaningful upside from the current price of $22.85 (as of August 17, 2026).
ROE of 14.9% and an earnings quality flag of "strong" round out a fundamentals picture that leans positive. The 3.0% dividend yield adds an income component that is relatively rare among growth-oriented logistics names.
The key open question is whether the cost pressures implied by the revenue-to-EPS gap are temporary or structural. Without guidance commentary, that answer will have to wait for management's next public remarks. For a current price and full score breakdown, visit acceinvestments.com/stocks/ZTO.
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