ZTO Express (Cayman) Inc. provides express delivery and other value-added logistics services in the People's Republic of China. It offers freight forwarding services; and delivery services for e-commerce merchants and traditional merchants, and other express service users. The company was founded in 2002 and is headquartered in Shanghai, the People's Republic of China.
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Competitive advantage assessment
Key strengths
Margins Consistently Above PeersGross margin at 25.0% (top 19%) and operating margin at 21.3% (top 0%) indicate strong pricing power.
ZTO Express (Cayman) Inc. ranks #1 of 27
scored companies in Integrated Freight & Logistics by moat score — the top 4%.
That makes it the widest moat in the group.
Moat scores for companies ranked near ZTO in Integrated Freight & Logistics
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 86
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 99
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 82
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 72
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 86
· 15% of the moat score
Scale matters only when it converts into economics.
ZTO Express (Cayman) Inc. (ZTO) scores 83 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as strong. It ranks #1 of 27 scored companies in Integrated Freight & Logistics, the top 4%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 26 companies in Integrated Freight & Logistics. Its strongest defense is Customer Stickiness (99/100) and its weakest is Resilience (72/100).
How does ZTO Express (Cayman) Inc. compare with other Integrated Freight & Logistics companies?
ZTO Express (Cayman) Inc. ranks #1 of 27 scored companies in Integrated Freight & Logistics by moat score. That is the widest moat in Integrated Freight & Logistics. The companies ranked closest are FedEx Corporation (FDX) at 78 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 26 companies in Integrated Freight & Logistics. The defenses are then weighted to produce the overall score out of 100.
Why is ZTO Express (Cayman) Inc. scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for ZTO Express (Cayman) Inc.?
The Corporate Default template measures 6 defenses, and ZTO scores: Pricing Power (76), Cost Advantage (86), Customer Stickiness (99), Capital Efficiency (82), Resilience (72), Scale & Market Position (86). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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