Expeditors International of Washington, Inc. (EXPD) vs ZTO Express (Cayman) Inc. (ZTO)

Expeditors International of Washington, Inc. and ZTO Express (Cayman) Inc. are both Integrated Freight & Logistics companies. Expeditors International of Washington, Inc. is the larger, with a market value of $25.3B against $10.7B — 2.4× the size. ZTO Express (Cayman) Inc. trades at the lower P/E: 10.3× against 27.2×. ZTO Express (Cayman) Inc. grew revenue faster over the last twelve months: 24.8% against 6.77%. ZTO Express (Cayman) Inc. has the higher net margin (19.0% vs 7.63%) and the lower return on invested capital (13.0% vs 67.9%). Both pay a dividend; ZTO Express (Cayman) Inc. yields more (2.77% vs 1.25%). Across the 22 metrics below, ZTO Express (Cayman) Inc. leads on 14 and Expeditors International of Washington, Inc. on 8.

Valuation

Metric EXPD ZTO Integrated Freight & Logistics median
P/E 27.17 10.26 21.28
P/S 2.04 1.88 0.71
P/B 11.57 1.59 1.67
Price to free cash flow 26.57 n/m 15.27
EV/EBITDA 18.99 8.11 8.95
EV/Sales 1.95 1.70 1.06
Earnings yield 3.68% 9.75% (1.34%)
Free cash flow yield 3.76% (2.01%) 0.00%

Profitability

Metric EXPD ZTO Integrated Freight & Logistics median
Gross margin 32.70% 25.10% 26.33%
Operating margin 9.83% 20.98% 0.92%
Net margin 7.63% 19.02% (0.14%)
Free cash flow margin 7.68% (3.77%) 0.00%
Return on equity 42.55% 16.37% 0.00%
Return on assets 18.52% 10.88% 0.00%
Return on invested capital 67.88% 13.03% 0.00%

Growth

Metric EXPD ZTO Integrated Freight & Logistics median
Revenue growth (TTM) 6.77% 24.75% 6.03%
EPS growth (last fiscal year) 4.02% 8.84% —
Revenue growth, 5-year CAGR 2.92% 12.69% 2.88%
Net income growth, 5-year CAGR 3.08% 14.46% 0.00%

Health

Metric EXPD ZTO Integrated Freight & Logistics median
Debt to equity 0.00 0.34 0.12
Current ratio 1.57 1.67 1.57
Net debt to EBITDA (1.18) (1.05) 0.86

Dividend

Metric EXPD ZTO Integrated Freight & Logistics median
Dividend yield 1.25% 2.77% 2.25%
Payout ratio 0.20 0.00 0.13

Size

Metric EXPD ZTO Integrated Freight & Logistics median
Market cap 25.26b 10.66b 56.42m

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