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One of China's largest express-parcel delivery companies, competing in the domestic e-commerce courier market.
One of China's largest express-parcel delivery companies, competing in the domestic e-commerce courier market.
Runs on a franchise model: regional partners own and staff local hubs and delivery routes, while Yunda runs the sorting network, sets service standards and earns fees on each parcel handled. Online marketplace sellers supply most of the volume. Rivals offer much the same service, so price competition shapes what it keeps per parcel.
In one line: China's UPS/FedEx for parcels, franchise model.
Moat: narrow (scale, network effects, distribution). Dense national sorting/delivery network built for e-commerce volume, though price competition is intense.
Headquarters: Shanghai, China · Employees: 9,418
Size Yunda (002120.SZ) is a China Industrials company (Air Freight/Couriers) with a market value of $2.74B, the 935th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥6.31 on 6 Nov 2026.
Performance Over six months the shares fell 19.7%, against -9.2% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 7.5% over the last twelve months (peer median +6.3%); the operating margin is 4.3% (peer median 3.4%).
Valuation It trades at 9.7× forward earnings against a peer median of 15.2× (cheapest of 16).
Price implies For today's price to make sense, revenue must grow about -13% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.1 points above its cost of capital (6.1% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥54.3B | CN¥51.4B | CN¥48.5B | CN¥44.8B | CN¥47.4B |
| Revenue growth | — | +6% | +8% | -5% | — |
| Gross profit | CN¥5.41B | CN¥3.61B | CN¥4.35B | CN¥3.89B | CN¥3.90B |
| EBITDA | n/a | CN¥3.77B | CN¥4.84B | CN¥5.01B | CN¥5.02B |
| Net income | CN¥1.70B | CN¥1.17B | CN¥1.91B | CN¥1.63B | CN¥1.48B |
| Free cash flow | CN¥1.98B | CN¥1.31B | CN¥2.73B | CN¥914M | CN¥1.84B |
| Capital expenditure | CN¥2.24B | CN¥2.54B | CN¥2.44B | CN¥2.57B | CN¥3.52B |
| Total debt | CN¥8.48B | CN¥9.30B | CN¥11.9B | CN¥11.9B | CN¥12.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Yunda 002120.SZ | $2.74B | -20% | +7% | 4% | 9.7× | -13.2% |
| STO Express 002468.SZ | $3.40B | -8% | +26% | 5% | 10.2× | -12.5% |
| YTO Express 600233.SS | $9.63B | -13% | +8% | 9% | 10.3× | -12.2% |
| S.F 002352.SZ | $23.9B | -7% | +6% | 5% | 15.9× | -12.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 002120.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.1% | -1.4% | 6th lowest of 21 |
| 6-month return | -19.7% | -9.2% | 4th lowest of 21 |
| Distance from 52-week high | -24.3% | -23.3% | 10th lowest of 21 |
| Revenue growth (TTM) | +7.5% | +6.3% | 9th highest of 20 |
| Operating margin | 4.3% | 3.4% | 7th highest of 19 |
| Forward P/E | 9.7× | 15.2× | cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -13.2% | 4.4% | 3rd least demanding of 14 |
| Growth delivered (Del g) | +9.0% | +7.2% | 7th highest of 14 |
| Hurdle (Req g minus delivered) | -22.1 pp | -5.1 pp | 3rd least demanding of 14 |
| ROIC minus cost of capital | +6.1 pp | -2.7 pp | 5th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Yunda 002120.SZ | China | $2.74B | -20% | +7% | 4% | 9.7× | -13.2% | +9.0% |
| ID Logistics IDL.PA | France | $2.80B | +7% | +16% | 4% | 30.3× | 10.4% | +17.9% |
| Mitsubishi Logistics 9301.T | Japan | $2.67B | -15% | -1% | 6% | 16.0× | n/a | n/a |
| Aegis Vopak Terminals AEGISVOPAK.NS | India | $2.89B | +14% | +17% | 53% | 61.3× | n/a | n/a |
| SENKO 9069.T | Japan | $2.45B | +23% | +7% | 4% | 15.2× | 4.4% | +9.5% |
| Jiayou International Logistics 603871.SS | China | $2.41B | -8% | -10% | 19% | 11.3× | -7.9% | +20.7% |
| China Railway Special Cargo Logistics 001213.SZ | China | $2.35B | -11% | -3% | 3% | n/a | 2.1% | +7.2% |
| Liaoning Cheng Da 600739.SS | China | $2.29B | -16% | -27% | -17% | n/a | 4.4% | -10.1% |
| Huaihe Energy 600575.SS | China | $3.38B | -12% | +38% | n/a | 12.2× | n/a | n/a |
| Delhivery DELHIVERY.NS | India | $3.40B | -11% | +24% | 0% | 81.8× | n/a | n/a |
| Xiamen C&D 600153.SS | China | $3.77B | -8% | -6% | 1% | 12.4× | 21.2% | +9.3% |
| Antong 600179.SS | China | $3.81B | -7% | +9% | 16% | n/a | -4.0% | +13.5% |
| Shanghai Zhonggu Logistics 603565.SS | China | $3.97B | +16% | +4% | 27% | 10.4× | -14.4% | +0.4% |
| Xiamen International Trade 600755.SS | China | $1.77B | -10% | +28% | 0% | 11.5× | n/a | n/a |
| Eastern Air Logistics 601156.SS | China | $4.70B | +23% | +20% | 14% | 10.9× | -16.0% | +9.9% |
| Compagnie de l'Odet ODET.PA | France | $4.74B | -30% | -83% | -8% | n/a | 24.3% | -29.4% |
| Yamato 9064.T | Japan | $4.83B | +26% | +2% | 2% | 34.5× | 8.9% | +1.9% |
| Fukuyama Transporting 9075.T | Japan | $1.51B | +18% | +6% | 4% | 11.6× | 12.0% | +2.2% |
| CMST Development 600787.SS | China | $1.49B | -12% | +23% | 0% | n/a | n/a | n/a |
| Hub HUBG | United States | $1.48B | -44% | n/a | n/a | 51.6× | n/a | n/a |
| Eternal Asia Supply Chain Management 002183.SZ | China | $1.48B | -32% | -25% | 0% | 54.3× | 29.9% | 0.0% |