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ZTO Express (Cayman)BSP:Z1TO34 95 Debt-to-EBITDA is 1.99 as of Mar. 2026, which is 262% above its 10-year median of 0.55. GuruFocus rates BSP:Z1TO34 with a GF Score™ of 95/100 and a GF Value™ of R$36.63 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 871 Transportation companies, ZTO Express (Cayman) ranks better than 60.51% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for ZTO Express (Cayman)'s Debt-to-EBITDA or its related term are showing as below:
BSP:Z1TO34'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.06 Med: 0.55 Max: 1.96
Current: 1.96
During the past 12 years, the highest Debt-to-EBITDA Ratio of ZTO Express (Cayman) was 1.96. The lowest was 0.06. And the median was 0.55.
BSP:Z1TO34's Debt-to-EBITDA is ranked better than 60.51% of 871
companies
in the Transportation industry
Industry Median: 2.64
vs BSP:Z1TO34: 1.96
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
ZTO Express (Cayman) Debt-to-EBITDA Related Terms
ZTO Express (Cayman) Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for ZTO Express (Cayman)'s Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
BSP:Z1TO34 vs CHRW, EXPD, FDXF: Debt-to-EBITDA Comparison
For the Integrated Freight & Logistics subindustry, ZTO Express (Cayman)'s Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
ZTO Express (Cayman) Debt-to-EBITDA vs Transportation Industry
For the Transportation industry and Industrials sector, ZTO Express (Cayman)'s Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where ZTO Express (Cayman)'s Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
ZTO Express (Cayman) (BSP:Z1TO34) has a Debt-to-EBITDA of 1.99 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on ZTO Express (Cayman). This is 262% above median its historical median of 0.55. Over the past decade, ZTO Express (Cayman)'s Debt-to-EBITDA has ranged from 0.06 to 1.96. According to the industry distribution chart, ZTO Express (Cayman) ranks #344 out of 871 companies in the Transportation industry, placing it in the top 39.5%.
Is ZTO Express (Cayman)'s Debt-to-EBITDA too high?
ZTO Express (Cayman)'s current Debt-to-EBITDA of 1.99 is 262% above median its 10-year median of 0.55. Over the past 10 years, this metric has ranged from a low of 0.06 to a high of 1.96. The Transportation industry median Debt-to-EBITDA is 2.64. ZTO Express (Cayman)'s value of 1.99 is 24.6% below this industry median. Based on the distribution chart, ZTO Express (Cayman) ranks #344 out of 871 companies in the Transportation industry, which is above the industry midpoint. Overall, ZTO Express (Cayman) has a GF Score™ of 95/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ZTO Express (Cayman)'s Debt-to-EBITDA compare to CHRW and EXPD?
According to the Transportation industry distribution chart, ZTO Express (Cayman) ranks #344 out of 871 companies for Debt-to-EBITDA. This puts ZTO Express (Cayman) in the upper half of its industry. The industry median Debt-to-EBITDA is 2.64. ZTO Express (Cayman)'s value of 1.99 is 24.6% below this benchmark. Historically, ZTO Express (Cayman)'s own Debt-to-EBITDA has ranged from 0.06 to 1.96 over the past decade. While the company's 10-year median is 0.55 vs. the industry median of 2.64, ZTO Express (Cayman) has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Transportation company?
The median Debt-to-EBITDA among Transportation companies is 2.64, based on 871 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ZTO Express (Cayman)'s current Debt-to-EBITDA of 1.99 is 24.6% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on ZTO Express (Cayman). For the Transportation industry, the median Debt-to-EBITDA is 2.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ZTO Express (Cayman)'s current Debt-to-EBITDA is 1.99, which is 262% above median its own 10-year median of 0.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ZTO Express (Cayman) stock overvalued right now?
Based on GuruFocus' analysis, ZTO Express (Cayman) (BSP:Z1TO34) is currently considered Modestly Undervalued. The stock's GF Value™ is R$36.63, compared to a current price of R$30.54 — trading 16.6% below its estimated fair value. The current Debt-to-EBITDA is 1.99, which is 262% above median its 10-year median of 0.55 and 24.6% below the Transportation industry median of 2.64. ZTO Express (Cayman)'s overall GF Score™ is 95/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For ZTO Express (Cayman) (BSP:Z1TO34), the current Debt-to-EBITDA is 1.99 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is ZTO Express (Cayman) (BSP:Z1TO34) Overvalued in 2026?
Based on GuruFocus' analysis, ZTO Express (Cayman) stock appears to be undervalued.
The current stock price of R$30.54 is trading 16.6% below its estimated GF Value™ of R$36.63.
GuruFocus considers ZTO Express (Cayman) to be Modestly Undervalued.
Key valuation signals for BSP:Z1TO34:
Debt-to-EBITDA: 1.99 (262% above median its 10-year median of 0.55)
GF Value™: R$36.63 vs. price of R$30.54 (16.6% below fair value)
Industry Position: 24.6% below the Transportation median (#344 of 871)
No single metric tells the full story. See the BSP:Z1TO34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ZTO Express is China's largest express delivery company by parcel volume, with a volume share of 19.4% in 2024. It operates a network partner model where it provides line-haul transportation and sorting services, while its local network partners provide first-mile pickup and last-mile delivery services under the ZTO brand name. Headquartered in Shanghai, the company was founded in 2002 by Meisong Lai, who remains chair, CEO, and its major shareholder with 78% voting rights as of March 31, 2025. ZTO's strategic shareholder is leading China e-commerce company Alibaba Group with around an 8.9% interest.
95GF Score
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