Pitney Bowes Inc. (PBI) vs ZTO Express (Cayman) Inc. (ZTO)

Pitney Bowes Inc. and ZTO Express (Cayman) Inc. are both Integrated Freight & Logistics companies. ZTO Express (Cayman) Inc. is the larger, with a market value of $10.9B against $2.3B — 4.7× the size. ZTO Express (Cayman) Inc. trades at the lower P/E: 10.6× against 13.4×. ZTO Express (Cayman) Inc. grew revenue faster over the last twelve months: 24.8% against −5.31%. ZTO Express (Cayman) Inc. has the higher net margin (19.0% vs 10.0%) and the lower return on invested capital (13.0% vs 27.8%). Both pay a dividend; Pitney Bowes Inc. yields more (2.26% vs 1.94%). Across the 21 metrics below, ZTO Express (Cayman) Inc. leads on 11 and Pitney Bowes Inc. on 10.

Valuation

Metric PBI ZTO Integrated Freight & Logistics median
P/E 13.44 10.59 23.03
P/S 1.23 1.94 0.73
P/B n/m 1.64 1.77
Price to free cash flow 5.53 n/m 12.85
EV/EBITDA 7.98 8.40 9.35
EV/Sales 2.17 1.76 1.10
Earnings yield 7.44% 9.44% (1.15%)
Free cash flow yield 18.08% (1.95%) 0.00%

Profitability

Metric PBI ZTO Integrated Freight & Logistics median
Gross margin 54.08% 25.10% 27.04%
Operating margin 21.22% 20.98% 0.92%
Net margin 10.04% 19.02% (0.14%)
Free cash flow margin 22.25% (3.77%) 0.00%
Return on equity (26.76%) 16.37% 0.00%
Return on assets 5.99% 10.88% 0.00%
Return on invested capital 27.75% 13.03% 0.00%

Growth

Metric PBI ZTO Integrated Freight & Logistics median
Revenue growth (TTM) (5.31%) 24.75% 6.03%
EPS growth (last fiscal year) 175.00% 8.84% 7.70%
Revenue growth, 5-year CAGR (11.84%) 12.69% 2.88%
Net income growth, 5-year CAGR 0.00% 14.46% 0.00%

Health

Metric PBI ZTO Integrated Freight & Logistics median
Debt to equity (2.36) 0.34 0.14
Current ratio 0.73 1.67 1.58
Net debt to EBITDA 3.79 (1.05) 0.41

Dividend

Metric PBI ZTO Integrated Freight & Logistics median
Dividend yield 2.26% 1.94% 1.94%
Payout ratio 0.31 0.21 0.29

Size

Metric PBI ZTO Integrated Freight & Logistics median
Market cap 2.33b 10.90b 74.45m

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