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ZTO Express (Cayman)MEX:ZTO N 88 3-Year ROIIC % is 34.24 as of Dec. 2025, which is 131% above its 10-year median of 14.82. GuruFocus rates MEX:ZTO N with a GF Score™ of 88/100 and a GF Value™ of MXN504.18. The stock has 3 warning signs investors should review. Among 938 Transportation companies, ZTO Express (Cayman) ranks better than 85.18% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
ZTO Express (Cayman)'s 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 34.24%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for ZTO Express (Cayman)'s 3-Year ROIIC % or its related term are showing as below:
MEX:ZTO N's 3-Year ROIIC % is ranked better than 85.18% of 938
companies
in the Transportation industry
Industry Median: 2.08
vs MEX:ZTO N: 34.24
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
ZTO Express (Cayman) 3-Year ROIIC % Related Terms
ZTO Express (Cayman) 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for ZTO Express (Cayman)'s 3-Year ROIIC % 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.
MEX:ZTO N vs EXPD, CHRW, FDXF: 3-Year ROIIC % Comparison
For the Integrated Freight & Logistics subindustry, ZTO Express (Cayman)'s 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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) 3-Year ROIIC % vs Transportation Industry
For the Transportation industry and Industrials sector, ZTO Express (Cayman)'s 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where ZTO Express (Cayman)'s 3-Year ROIIC % 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
ZTO Express (Cayman) (MEX:ZTO N) has a 3-Year ROIIC % of 34.24 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on ZTO Express (Cayman) and its competitors. This is 131% above median its historical median of 14.82. Over the past decade, ZTO Express (Cayman)'s 3-Year ROIIC % has ranged from 3.78 to 34.24. According to the industry distribution chart, ZTO Express (Cayman) ranks #139 out of 938 companies in the Transportation industry, placing it in the top 14.8%.
Is ZTO Express (Cayman)'s 3-Year ROIIC % too high?
ZTO Express (Cayman)'s current 3-Year ROIIC % of 34.24 is 131% above median its 10-year median of 14.82. Over the past 10 years, this metric has ranged from a low of 3.78 to a high of 34.24. The Transportation industry median 3-Year ROIIC % is 2.08. ZTO Express (Cayman)'s value of 34.24 is 1546.2% above this industry median. Based on the distribution chart, ZTO Express (Cayman) ranks #139 out of 938 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, ZTO Express (Cayman) has a GF Score™ of 88/100, reflecting its overall financial health beyond just this single metric.
How does ZTO Express (Cayman)'s 3-Year ROIIC % compare to EXPD and CHRW?
According to the Transportation industry distribution chart, ZTO Express (Cayman) ranks #139 out of 938 companies for 3-Year ROIIC %. This places ZTO Express (Cayman) in the top 15% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 2.08. ZTO Express (Cayman)'s value of 34.24 is 1546.2% above this benchmark. Historically, ZTO Express (Cayman)'s own 3-Year ROIIC % has ranged from 3.78 to 34.24 over the past decade. While the company's 10-year median is 14.82 vs. the industry median of 2.08, ZTO Express (Cayman) has consistently been above 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 3-Year ROIIC % for a Transportation company?
The median 3-Year ROIIC % among Transportation companies is 2.08, based on 938 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ZTO Express (Cayman)'s current 3-Year ROIIC % of 34.24 is 1546.2% above 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on ZTO Express (Cayman) and its competitors. For the Transportation industry, the median 3-Year ROIIC % is 2.08 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ZTO Express (Cayman)'s current 3-Year ROIIC % is 34.24, which is 131% above median its own 10-year median of 14.82. 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?
ZTO Express (Cayman) (MEX:ZTO N) has a current 3-Year ROIIC % of 34.24. The stock's GF Value™ is MXN504.18, compared to a current price of MXN426.00 — trading 15.5% below its estimated fair value. The current 3-Year ROIIC % is 34.24, which is 131% above median its 10-year median of 14.82 and 1546.2% above the Transportation industry median of 2.08. ZTO Express (Cayman)'s overall GF Score™ is 88/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For ZTO Express (Cayman) (MEX:ZTO N), the current 3-Year ROIIC % is 34.24 as of Dec. 2025. 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) (MEX:ZTO N) Overvalued in 2026?
Based on GuruFocus' analysis, ZTO Express (Cayman) stock appears to be undervalued.
The current stock price of MXN426.00 is trading 15.5% below its estimated GF Value™ of MXN504.18.
Key valuation signals for MEX:ZTO N:
3-Year ROIIC %: 34.24 (131% above median its 10-year median of 14.82)
GF Value™: MXN504.18 vs. price of MXN426.00 (15.5% below fair value)
Industry Position: 1546.2% above the Transportation median (#139 of 938)
No single metric tells the full story. See the MEX:ZTO N 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.
88GF Score
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