FLX vs ZTO
BingEx Ltd. and ZTO Express (Cayman) Inc., side by side — 4 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | FLX | ZTO |
|---|---|---|
| Revenue | CNY 4.0B | CNY 49.1B |
| Net income | CNY 109.4M | CNY 9.1B |
| Gross margin | 11.8% | 25.0% |
| Net margin | 2.7% | 18.8% |
| Return on equity | 13.8% | 14.1% |
| Diluted EPS | CNY 0.52 | CNY 11.19 |
| Dividend / share | · | · |
| Payout ratio | · | 41.4% |
| Free cash flow | CNY 98.9M | CNY 6.8B |
| Equity | CNY 835.4M | CNY 66.4B |
| Net debt / equity | · | 0.01× |
| Current ratio | 2.35× | 1.49× |
| Revenue CAGR 5y | · | 14.3% |
| Profit CAGR 5y | · | 16.1% |
ZTO bills 12.3× the revenue of FLX, and keeps more of each dollar of revenue as profit (18.8% against 2.7%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
4 years side by side
| Fiscal year | FLX | ZTO |
|---|---|---|
| FY2025 | CNY 4.0B | CNY 49.1B |
| FY2024 | CNY 4.5B | CNY 44.3B |
| FY2023 | CNY 4.5B | CNY 38.4B |
| FY2022 | CNY 4.0B | CNY 35.4B |
Bottom line
| Fiscal year | FLX | ZTO |
|---|---|---|
| FY2025 | CNY 109.4M | CNY 9.1B |
| FY2024 | CNY -146.5M | CNY 8.8B |
| FY2023 | CNY 110.5M | CNY 8.7B |
| FY2022 | CNY -180.4M | CNY 6.8B |
Standard deviation, each side
FLX's net margin has been more volatile than ZTO's over the 4 comparable fiscal years — 3.3 percentage points of standard deviation against 1.6.
4 of 12 comparable fiscal years — a year missing data on either side is not counted.
Year by year
ZTO led in net margin in every one of the 4 comparable fiscal years — a structural lead, not a recent swing.
4 of 12 comparable fiscal years — a year missing data on either side is not counted.