The six largest privately owned express delivery companies accounted for around 80% of China’s parcel delivery volume in the third quarter of 2025, based on data from the companies and China’s State Post Bureau. With concentration already high, we think further market share gains from smaller players are limited for these major operators.
Successful mergers or acquisitions could strengthen YTO’s scale.
YTO could lose more volume share than expected to competitor STO following support to the latter by Alibaba Holdings that enables STO to be more aggressive in its price cuts for longer.
|
Metric
|
600233
|
002468
|
002120
|
|---|---|---|---|
Price/Earnings (Normalized) | 11.02 | 10.43 | 12.12 |
Price/Book Value | 1.64 | 1.90 | 0.92 |
Price/Sales | 0.78 | 0.35 | 0.38 |
Price/Cash Flow | 6.82 | 4.17 | 5.14 |
|
Metric
|
600233
|
002468
|
002120
|
|---|---|---|---|
Quick Ratio | 0.81 | 0.42 | 1.12 |
Current Ratio | 1.11 | 0.75 | 1.62 |
Interest Coverage | 47.08 | 9.89 | 9.34 |
|
Metric
|
600233
|
002468
|
002120
|
|---|---|---|---|
Return on Assets (Normalized) | 10.65% | 6.89% | 4.31% |
Return on Equity (Normalized) | 16.31% | 18.37% | 7.72% |
Return on Invested Capital (Normalized) | 13.04% | 10.81% | 5.60% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| United Parcel Service Inc Class B
UPS
| LOCK|@$jK^!% | LOCK|H@ | $79B | |||
| DHL AG ADR
DHLGY
| LOCK|d#gn&#> | LOCK|t!<c? | $71B | |||
| FedEx Corp
FDX
| LOCK|Twn$MJt | LOCK|j<wfc | $69B | |||
| Expeditors International of Washington Inc
EXPD
| LOCK|my<Q?^<T | LOCK|MY? | $25B | |||
| JB Hunt Transport Services Inc
JBHT
| LOCK|CQf$%%K | LOCK|!%$Y | $22B | |||
| C.H. Robinson Worldwide Inc
CHRW
| LOCK|@PhV%sv! | LOCK|FRg | $18B | |||
| FedEx Freight Holding Co Inc
FDXF
| LOCK|SKGnP#B | LOCK|N$ | $17B | |||
| ZTO Express (Cayman) Inc ADR
ZTO
| LOCK|&bjCbVb | LOCK|JD@< | $15B | |||
| Landstar System Inc
LSTR
| LOCK|l?qN!$Q | LOCK|%z | $6B | |||
| Hub Group Inc Class A
HUBG
| LOCK|Kqk^M! | LOCK|@L!? | $2B |
United States