ZTO ZTO Express (ZTO) Q4 FY25 earnings call
ZTO Express delivered strong Q4 and full-year 2025 results, marked by robust parcel volume growth and solid profitability, despite an industry-wide moderation. The company is strategically aligning with government anti-involution policies, focusing on high-quality development, cost reduction through AI integration, and optimizing network policies to support partners. ZTO also announced an enhanced shareholder return program, underscoring its commitment to long-term value creation.
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ZTO operating KPIs by quarter
| KPI | This call Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Parcel volume | — | 9.67BParcel volume reached 9.67 billion, up 13.2% year-over-year, significantly outpacing industry growth with market share expanding by 1.2 percentage points, further solidifying our leadership position.Source: earnings call transcript | 10.49BParcel volume reached 10.49 billion, up 6.5% year-over-year with market share expanding by 0.4 percentage points, entrenching our industry leadership position.Source: earnings call transcript | +8.5% |
| Daily retail volume | <10MIn the fourth quarter, daily retail volume reached close to 10 million parcels.Source: earnings call transcript | ~9.7MIn Q1, average daily retail parcel volume reached approximately 9.7 million, which indicates a meaningful growth rate.Source: earnings call transcript | 11.7M+In the second quarter, average daily retail parcel volume exceeded 11.7 million, of which return parcels averaged approximately 9.8 million each day, increased approximately 80% year-over-year.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.