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The historical rank and industry rank for ZTO Express (Cayman)'s Net Cash per Share or its related term are showing as below:
During the past 12 years, the highest Price-to-Net-Cash Ratio of ZTO Express (Cayman) was 116.06. The lowest was 6.40. And the median was 11.84.
ZTO's Price-to-Net-Cash is not ranked *
in the Transportation industry.
Industry Median: 8.09 * Ranked among companies with meaningful Price-to-Net-Cash only.
ZTO Express (Cayman) (NYSE:ZTO) Net Cash per Share Explanation
Ben Graham invested in situations where the company's stock price was lower than its net-cash. He assigned some value to the company's other current asset. The value is called Net Current Asset Value (NCAV). One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
You can find companies that are traded below their Net Current Asset Value (NCAV) with our Net-Net screener.
ZTO Express (Cayman) Net Cash per Share Related Terms
ZTO Express (Cayman) Net Cash per Share Historical Data
* Premium members only.
The historical data trend for ZTO Express (Cayman)'s Net Cash per Share 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.
ZTO vs CHRW, FDXF, JBHT: Net Cash per Share Comparison
For the Integrated Freight & Logistics subindustry, ZTO Express (Cayman)'s Price-to-Net-Cash, along with its competitors' market caps and Price-to-Net-Cash 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) Price-to-Net-Cash vs Transportation Industry
For the Transportation industry and Industrials sector, ZTO Express (Cayman)'s Price-to-Net-Cash distribution charts can be found below:
* The bar in red indicates where ZTO Express (Cayman)'s Price-to-Net-Cash falls into.
ZTO Express (Cayman) Net Cash per Share Calculation
In the calculation of a company's Net Cash per Share, assets other than cash and short term investments are considered to be worth nothing. But the company has to pay its debt and other liabilities in full. This is an extremely conservative way of valuation. Most companies have negative Net Cash per Share. But sometimes a company's price may be lower than its net-cash.
ZTO Express (Cayman)'s Net Cash per Share for the fiscal year that ended in Dec. 2025 is calculated as
* 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.
ZTO Express (Cayman) (ZTO) has a Net Cash per Share of $-0.73 as of Jun. 2026. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on ZTO Express (Cayman) and its competitors. According to the industry distribution chart, ZTO Express (Cayman) ranks #999999 out of 121 companies in the Transportation industry.
Is ZTO Express (Cayman)'s Net Cash per Share too high?
ZTO Express (Cayman)'s current Net Cash per Share is $-0.73. Based on the distribution chart, ZTO Express (Cayman) ranks #999999 out of 121 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, ZTO Express (Cayman) has a GF Score™ of 90/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ZTO Express (Cayman)'s Net Cash per Share compare to CHRW and FDXF?
According to the Transportation industry distribution chart, ZTO Express (Cayman) ranks #999999 out of 121 companies for Net Cash per Share. This places ZTO Express (Cayman) in the lower half of its industry. The industry median Net Cash per Share is 8.09. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Cash per Share for a Transportation company?
The median Net Cash per Share among Transportation companies is 8.09, based on 121 companies in the industry. Companies in the top quartile (top 25%) have a Net Cash per Share significantly above this median, while those in the bottom quartile fall well below. However, Net Cash per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Cash per Share mean?
A high Net Cash per Share can signal that a stock is expensive relative to its fundamentals. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on ZTO Express (Cayman) and its competitors. For the Transportation industry, the median Net Cash per Share is 8.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ZTO Express (Cayman)'s current Net Cash per Share is $-0.73. 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) (ZTO) is currently considered Modestly Undervalued. The stock's GF Value™ is $28.03, compared to a current price of $20.95 — trading 25.3% below its estimated fair value. The current Net Cash per Share is $-0.73. ZTO Express (Cayman)'s overall GF Score™ is 90/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Cash per Share calculated?
Net Cash per Share is calculated from a company's financial statements. For ZTO Express (Cayman) (ZTO), the current Net Cash per Share is $-0.73 as of Jun. 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) (ZTO) Overvalued in 2026?
Based on GuruFocus' analysis, ZTO Express (Cayman) stock appears to be undervalued.
The current stock price of $20.95 is trading 25.3% below its estimated GF Value™ of $28.03.
GuruFocus considers ZTO Express (Cayman) to be Modestly Undervalued.
Key valuation signals for ZTO:
Net Cash per Share: $-0.73
GF Value™: $28.03 vs. price of $20.95 (25.3% below fair value)
No single metric tells the full story. See the ZTO 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.
90GF Score
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