ZTO Express (Cayman)LTS:0A33 +0.73%98 Piotroski F-Score is 6 as of Jun. 30, 2026, which is at its 10-year median of 6.00. GuruFocus rates LTS:0A33 with a GF Score™ of 98/100 and a GF Value™ of $28.04 (Modestly Undervalued). Among 973 Transportation companies, ZTO Express (Cayman) ranks better than 72.25% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
ZTO Express (Cayman) has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for ZTO Express (Cayman)'s Piotroski F-Score or its related term are showing as below:
LTS:0A33'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 6 Max: 7
Current: 6
During the past 12 years, the highest Piotroski F-Score of ZTO Express (Cayman) was 7. The lowest was 3. And the median was 6.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
ZTO Express (Cayman) Piotroski F-Score Related Terms
ZTO Express (Cayman) Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for ZTO Express (Cayman)'s Piotroski F-Score 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.
LTS:0A33 vs EXPD, CHRW, FDXF: Piotroski F-Score Comparison
For the Integrated Freight & Logistics subindustry, ZTO Express (Cayman)'s Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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) Piotroski F-Score vs Transportation Industry
For the Transportation industry and Industrials sector, ZTO Express (Cayman)'s Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where ZTO Express (Cayman)'s Piotroski F-Score 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.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 269.948 + 354.281 + 372.75 + 307.357 = $1,304 Mil. Cash Flow from Operations was 301.962 + 450.757 + 600.05 + 404.673 = $1,757 Mil. Revenue was 1647.792 + 1665.571 + 2060.243 + 1927.187 = $7,301 Mil. Gross Profit was 410.06 + 414.96 + 522.753 + 469.41 = $1,817 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(12849.449 + 13177.645 + 12710.328 + 12923.671 + 14187.056) / 5 = $13169.6298 Mil. Total Assets at the begining of this year (Mar25) was $12,849 Mil. Long-Term Debt & Capital Lease Obligation was $1,536 Mil. Total Current Assets was $5,637 Mil. Total Current Liabilities was $3,437 Mil.
Net Income was 360.015 + 338.651 + 327.261 + 274.957 = $1,301 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
ZTO Express (Cayman)'s current Net Income (TTM) was 1,304.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
ZTO Express (Cayman)'s return on assets of this year was 0.1015091. ZTO Express (Cayman)'s return on assets of last year was 0.10423676.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
ZTO Express (Cayman)'s gearing of this year was 0.11660153. ZTO Express (Cayman)'s gearing of last year was 0.00411309.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
ZTO Express (Cayman)'s current ratio of this year was 1.64011598. ZTO Express (Cayman)'s current ratio of last year was 1.05211805.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
ZTO Express (Cayman)'s number of shares in issue this year was 798.342. ZTO Express (Cayman)'s number of shares in issue last year was 832.053.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
ZTO Express (Cayman)'s gross margin of this year was 0.24890214. ZTO Express (Cayman)'s gross margin of last year was 0.29656506.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
ZTO Express (Cayman)'s asset turnover of this year was 0.56817946. ZTO Express (Cayman)'s asset turnover of last year was 0.5019229.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
ZTO Express (Cayman) has an F-score of 6 indicating the company's financial situation is typical for a stable company.
ZTO Express (Cayman) (LTS:0A33) has a Piotroski F-Score of 6 as of Jun. 30, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on ZTO Express (Cayman) and its competitors. This is near median its historical median of 6.00. Over the past decade, ZTO Express (Cayman)'s Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, ZTO Express (Cayman) ranks #270 out of 973 companies in the Transportation industry, placing it in the top 27.7%.
Is ZTO Express (Cayman)'s Piotroski F-Score too high?
ZTO Express (Cayman)'s current Piotroski F-Score of 6 is near median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 7.00. The Transportation industry median Piotroski F-Score is 6.00. ZTO Express (Cayman)'s value of 6 is 0% at this industry median. Based on the distribution chart, ZTO Express (Cayman) ranks #270 out of 973 companies in the Transportation industry, which is above the industry midpoint. Overall, ZTO Express (Cayman) has a GF Score™ of 98/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ZTO Express (Cayman)'s Piotroski F-Score compare to EXPD and CHRW?
According to the Transportation industry distribution chart, ZTO Express (Cayman) ranks #270 out of 973 companies for Piotroski F-Score. This puts ZTO Express (Cayman) in the upper half of its industry. The industry median Piotroski F-Score is 6.00. ZTO Express (Cayman)'s value of 6 is 0% at this benchmark. Historically, ZTO Express (Cayman)'s own Piotroski F-Score has ranged from 3.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 6.00, ZTO Express (Cayman) has consistently been at 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 Piotroski F-Score for a Transportation company?
The median Piotroski F-Score among Transportation companies is 6.00, based on 973 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ZTO Express (Cayman)'s current Piotroski F-Score of 6 is 0% at 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 Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on ZTO Express (Cayman) and its competitors. For the Transportation industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ZTO Express (Cayman)'s current Piotroski F-Score is 6, which is near median its own 10-year median of 6.00. 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) (LTS:0A33) is currently considered Modestly Undervalued. The stock's GF Value™ is $28.04, compared to a current price of $22.14 — trading 21% below its estimated fair value. The current Piotroski F-Score is 6, which is near median its 10-year median of 6.00 and 0% at the Transportation industry median of 6.00. ZTO Express (Cayman)'s overall GF Score™ is 98/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For ZTO Express (Cayman) (LTS:0A33), the current Piotroski F-Score is 6 as of Jun. 30, 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) (LTS:0A33) Overvalued in 2026?
Based on GuruFocus' analysis, ZTO Express (Cayman) stock appears to be undervalued.
The current stock price of $22.14 is trading 21% below its estimated GF Value™ of $28.04.
GuruFocus considers ZTO Express (Cayman) to be Modestly Undervalued.
Key valuation signals for LTS:0A33:
Piotroski F-Score: 6 (near median its 10-year median of 6.00)
GF Value™: $28.04 vs. price of $22.14 (21% below fair value)
Industry Position: 0% at the Transportation median (#270 of 973)
No single metric tells the full story. See the LTS:0A33 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.
98GF Score
Get the complete analysis for LTS:0A33
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