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One of China's major low-cost parcel-express delivery networks, serving e-commerce sellers nationwide.
One of China's major low-cost parcel-express delivery networks, serving e-commerce sellers nationwide.
Operates a franchise network where local partners handle pickup and last-mile delivery and the company runs trunk transport and sorting centers, earning per-parcel fees, which keeps its capital needs lower than a fully owned fleet. Price per parcel is the main competitive lever, and parcel volume from China's online shopping platforms sets growth. Alibaba is among its shareholders.
In one line: China's OnTrac / a discount FedEx Ground.
Moat: none (scale, distribution). Franchise-network scale amid intense price competition among near-identical low-cost couriers.
Headquarters: Shanghai, China · Founded: 2000 · Employees: 21,409
Size YTO Express (600233.SS) is a China Industrials company (Air Freight/Couriers) with a market value of $9.63B, the 260th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥18.79 on 6 Nov 2026.
Performance Over six months the shares fell 12.6%, against +0.5% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue grew 7.7% over the last twelve months (peer median +10.9%); the operating margin is 8.9% (peer median 4.1%).
Valuation It trades at 10.3× forward earnings against a peer median of 15.5× (5th cheapest of 17).
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 +17%, so the hurdle is -29 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 14.3 points above its cost of capital (5.0% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥79.5B | CN¥75.2B | CN¥69.0B | CN¥57.7B | CN¥53.5B |
| Revenue growth | — | +9% | +20% | +8% | — |
| Gross profit | CN¥11.4B | CN¥6.95B | CN¥6.31B | CN¥5.67B | CN¥5.87B |
| EBITDA | n/a | CN¥8.07B | CN¥7.22B | CN¥6.69B | CN¥6.89B |
| Net income | CN¥6.08B | CN¥4.32B | CN¥4.01B | CN¥3.72B | CN¥3.92B |
| Free cash flow | CN¥2.67B | -CN¥726M | -CN¥778M | CN¥1.27B | CN¥2.72B |
| Capital expenditure | CN¥7.26B | CN¥8.61B | CN¥6.77B | CN¥4.89B | CN¥4.74B |
| Total debt | CN¥8.15B | CN¥7.75B | CN¥6.10B | CN¥4.58B | CN¥3.95B |
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 |
|---|---|---|---|---|---|---|
| YTO Express 600233.SS | $9.63B | -13% | +8% | 9% | 10.3× | -12.2% |
| ZTO Express (Cayman), Inc. Sponsored ADR ZTO | $15.2B | -17% | +21% | 20% | 10.3× | -12.0% |
| S.F 002352.SZ | $23.9B | -7% | +6% | 5% | 15.9× | -12.9% |
| 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% |
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 | 600233.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.7% | +5.2% | 9th highest of 21 |
| 6-month return | -12.6% | +0.5% | 8th lowest of 20 |
| Distance from 52-week high | -17.8% | -15.1% | 10th lowest of 21 |
| Revenue growth (TTM) | +7.7% | +10.9% | 10th lowest of 21 |
| Operating margin | 8.9% | 4.1% | 6th highest of 21 |
| Forward P/E | 10.3× | 15.5× | 5th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -12.2% | 4.3% | 2nd least demanding of 18 |
| Growth delivered (Del g) | +16.6% | +8.3% | 4th highest of 18 |
| Hurdle (Req g minus delivered) | -28.9 pp | -0.7 pp | 3rd least demanding of 18 |
| ROIC minus cost of capital | +14.3 pp | -0.4 pp | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| YTO Express 600233.SS | China | $9.63B | -13% | +8% | 9% | 10.3× | -12.2% | +16.6% |
| Ryder System R | United States | $10.2B | +11% | +3% | 8% | 15.2× | 7.9% | +8.5% |
| Jd Logistics 2618.HK | Hong Kong | $9.10B | -29% | +29% | 3% | 6.9× | -0.4% | +23.4% |
| Hyundaiglovis 086280.KS | South Korea | $10.9B | -13% | +12% | 6% | 8.7× | -10.8% | +12.3% |
| Nippon Express Hldgs 9147.T | Japan | $8.22B | +35% | +2% | 3% | 17.6× | 7.9% | +4.4% |
| J&T Global Express 1519.HK | Hong Kong | $11.9B | -2% | +32% | 6% | 18.6× | -3.8% | +51.4% |
| Delivery Hero DHER.DE | Germany | $12.9B | +31% | +11% | 0% | n/a | n/a | n/a |
| Delivery Hero SE TEMP DHE1.DE | Germany | $12.9B | n/a | +11% | 0% | n/a | n/a | n/a |
| Yunnan Yuntianhua 600096.SS | China | $7.17B | -28% | -19% | 11% | 9.3× | -1.7% | -1.5% |
| Sinotrans 601598.SS | China | $6.74B | +18% | -1% | 0% | 14.8× | 4.3% | +2.7% |
| Grab GRAB | United States | $13.9B | -8% | +23% | 11% | 23.3× | 17.8% | +48.4% |
| C.H. Robinson CHRW | United States | $14.5B | -27% | +10% | 5% | 17.2× | 9.2% | 0.0% |
| GXO Logistics GXO | United States | $6.33B | +7% | +7% | 3% | 16.0× | 20.2% | +16.3% |
| Zto Express-w 2057.HK | Hong Kong | $15.6B | -19% | +21% | 20% | 10.2× | -1.6% | +13.5% |
| Swiggy SWIGGY.NS | India | $5.61B | -32% | +42% | -15% | n/a | n/a | n/a |
| SG Holdings Co., Ltd. 9143.T | Japan | $5.56B | +1% | +14% | 5% | 14.0× | -2.6% | +4.6% |
| Logista Integral LOG.MC | Spain | $5.42B | +15% | +4% | 2% | 15.8× | -5.9% | +5.4% |
| Yamato 9064.T | Japan | $4.83B | +26% | +2% | 2% | 34.5× | 8.9% | +1.9% |
| Compagnie de l'Odet ODET.PA | France | $4.74B | -30% | -83% | -8% | n/a | 24.3% | -29.4% |
| Eastern Air Logistics 601156.SS | China | $4.70B | +23% | +20% | 14% | 10.9× | -16.0% | +9.9% |
| Brambles BXB.AX | Australia | $20.4B | +2% | +1% | 17% | 20.8× | 8.9% | +8.3% |