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One of China's largest express-delivery couriers, moving e-commerce parcels nationwide through a franchise network.
One of China's largest express-delivery couriers, moving e-commerce parcels nationwide through a franchise network.
Runs a franchise network: local franchisees collect and deliver parcels, while the company earns fees for the trunk-line transport and sorting each parcel passes through, and sells waybills and equipment to them. Revenue follows parcel volume, but price competition among couriers squeezes the per-parcel fee. Alibaba is among its shareholders.
In one line: A Chinese FedEx Ground/regional parcel courier.
Moat: narrow (scale, distribution, network effects). Dense national sorting/franchise network built around e-commerce parcel volume, though price competition is intense.
Headquarters: Shanghai, China · Founded: 1993 · Employees: 12,677
Size STO Express (002468.SZ) is a China Industrials company (Building Products) with a market value of $3.40B, the 764th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥14.98 on 6 Nov 2026.
Performance Over six months the shares fell 8.4%, against +1.2% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 26.3% over the last twelve months (peer median +5.1%); the operating margin is 4.6% (peer median 12.3%).
Valuation It trades at 10.2× forward earnings against a peer median of 16.7× (3rd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -12% a year for seven years (Req g). Recent delivered growth is +21%, so the hurdle is -33 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 15.3 points above its cost of capital (5.8% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥66.0B | CN¥55.6B | CN¥47.2B | CN¥40.9B | CN¥33.7B |
| Revenue growth | — | +18% | +15% | +22% | — |
| Gross profit | CN¥7.03B | CN¥3.39B | CN¥2.66B | CN¥1.59B | CN¥1.38B |
| EBITDA | n/a | CN¥4.44B | CN¥3.70B | CN¥2.46B | CN¥1.86B |
| Net income | CN¥2.19B | CN¥1.37B | CN¥1.04B | CN¥341M | CN¥288M |
| Free cash flow | CN¥2.03B | CN¥674M | CN¥718M | CN¥512M | -CN¥991M |
| Capital expenditure | CN¥3.12B | CN¥3.15B | CN¥3.25B | CN¥2.86B | CN¥3.59B |
| Total debt | CN¥10.4B | CN¥9.20B | CN¥8.02B | CN¥7.63B | CN¥6.52B |
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 |
|---|---|---|---|---|---|---|
| STO Express 002468.SZ | $3.40B | -8% | +26% | 5% | 10.2× | -12.5% |
| ZTO Express (Cayman), Inc. Sponsored ADR ZTO | $15.2B | -17% | +21% | 20% | 10.3× | -12.0% |
| YTO Express 600233.SS | $9.63B | -13% | +8% | 9% | 10.3× | -12.2% |
| Yunda 002120.SZ | $2.74B | -20% | +7% | 4% | 9.7× | -13.2% |
| 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 | 002468.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.8% | -3.9% | 9th highest of 21 |
| 6-month return | -8.4% | +1.2% | 8th lowest of 21 |
| Distance from 52-week high | -17.1% | -25.2% | 7th highest of 21 |
| Revenue growth (TTM) | +26.3% | +5.1% | 2nd highest of 21 |
| Operating margin | 4.6% | 12.3% | 2nd lowest of 21 |
| Forward P/E | 10.2× | 16.7× | 3rd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -12.5% | 7.3% | least demanding of 19 |
| Growth delivered (Del g) | +20.8% | +6.0% | highest of 19 |
| Hurdle (Req g minus delivered) | -33.3 pp | +2.2 pp | least demanding of 19 |
| ROIC minus cost of capital | +15.3 pp | +4.2 pp | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| STO Express 002468.SZ | China | $3.40B | -8% | +26% | 5% | 10.2× | -12.5% | +20.8% |
| Nichias 5393.T | Japan | $3.52B | -5% | +3% | 15% | 15.2× | 7.1% | +5.1% |
| Rinnai 5947.T | Japan | $3.07B | -3% | +4% | 10% | 13.3× | -9.5% | +6.4% |
| Griffon GFF | United States | $4.58B | +15% | -12% | 20% | 17.1× | 7.5% | +4.0% |
| Shanghai Mechanical & Electrical Industry 600835.SS | China | $2.34B | -27% | -2% | 2% | 22.5× | 0.6% | -3.8% |
| Reliance Worldwide RWC.AX | Australia | $2.33B | +47% | -5% | 12% | 16.3× | 9.9% | +7.5% |
| Sanwa 5929.T | Japan | $5.10B | +8% | +2% | 11% | 14.8× | -2.6% | +9.1% |
| Qingdao East Steel Tower Stock 002545.SZ | China | $2.25B | -50% | +23% | 32% | 8.5× | -10.2% | +13.0% |
| Toto 5332.T | Japan | $5.40B | -1% | +5% | 8% | 18.2× | 7.8% | +5.0% |
| Jangho 601886.SS | China | $2.01B | +26% | +14% | 5% | 15.0× | -0.1% | +3.9% |
| Fortune Brands Innovations FBIN | United States | $5.74B | +27% | -3% | 14% | 19.7× | 5.3% | -6.0% |
| Kajaria Ceramics KAJARIACER.NS | India | $1.96B | +7% | +14% | 16% | 26.1× | 26.2% | +11.7% |
| Tecnoglass TGLS | United States | $1.95B | +10% | +10% | 18% | 13.8× | n/a | n/a |
| Hyundai Elevator 017800.KS | South Korea | $1.79B | -31% | -9% | 9% | 9.4× | -5.5% | +6.3% |
| Interface TILE | United States | $1.78B | +4% | +7% | 12% | 14.5× | 11.4% | +4.7% |
| SPX Technologies SPXC | United States | $7.15B | -30% | +20% | 17% | 15.3× | 15.7% | +15.0% |
| Century Plyboards (India) CENTURYPLY.NS | India | $1.50B | -20% | +26% | 10% | 34.4× | n/a | n/a |
| Simpson Manufacturing SSD | United States | $8.07B | +4% | +5% | 20% | 20.9× | 13.2% | +13.0% |
| Xiamen Solex High-Tech Industries 603992.SS | China | $1.38B | -35% | +18% | 8% | 29.9× | 13.5% | +5.2% |
| A. O. Smith AOS | United States | $8.67B | +10% | -1% | 18% | 17.3× | 4.5% | +5.8% |
| Preformed Line Products PLPC | United States | $1.28B | -24% | +16% | 10% | 18.8× | 10.2% | +7.5% |