ZTO Express (Cayman) (ZTO Express (Cayman)) Inventory Turnover : 272.05 (As of Dec. 2023)

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What is ZTO Express (Cayman) Inventory Turnover?

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. ZTO Express (Cayman)'s Cost of Goods Sold for the three months ended in Dec. 2023 was $1,049 Mil. ZTO Express (Cayman)'s Average Total Inventories for the quarter that ended in Dec. 2023 was $4 Mil. ZTO Express (Cayman)'s Inventory Turnover for the quarter that ended in Dec. 2023 was 272.05.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. ZTO Express (Cayman)'s Days Inventory for the three months ended in Dec. 2023 was 0.34.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. ZTO Express (Cayman)'s Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.00.

ZTO Express (Cayman) Inventory Turnover Historical Data

The historical data trend for ZTO Express (Cayman)'s Inventory Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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ZTO Express (Cayman) Inventory Turnover Chart

ZTO Express (Cayman) Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Inventory Turnover

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350.09

412.50

353.74

401.04

768.91

ZTO Express (Cayman) Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Inventory Turnover	Get a 7-Day Free Trial															135.51	186.69	226.14	232.71	272.05

ZTO Express (Cayman) Inventory Turnover Calculation

ZTO Express (Cayman)'s Inventory Turnover for the fiscal year that ended in Dec. 2023 is calculated as

	Inventory Turnover (A: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: Dec. 2023 )	/ (	(Total Inventories (A: Dec. 2022 )	+	Total Inventories (A: Dec. 2023 ))	/	count )
=	3747.289	/ (	(5.815	+	3.932)	/	2 )
=	3747.289	/	4.8735
=	768.91

ZTO Express (Cayman)'s Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

	Inventory Turnover (Q: Dec. 2023 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Dec. 2023 )	/ (	(Total Inventories (Q: Sep. 2023 )	+	Total Inventories (Q: Dec. 2023 ))	/	count )
=	1049.156	/ (	(3.781	+	3.932)	/	2 )
=	1049.156	/	3.8565
=	272.05

ZTO Express (Cayman) (NYSE:ZTO) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

ZTO Express (Cayman)'s Days Inventory for the three months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	3.8565	/	1049.156	*	365 / 4
	=	0.34

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

ZTO Express (Cayman)'s Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	3.8565	/	1487.274
	=	0.00

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

ZTO Express (Cayman) Inventory Turnover Related Terms

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ZTO Express (Cayman) (ZTO Express (Cayman)) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » ZTO Express (Cayman) Inc (NYSE:ZTO) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

ZTO:Mexico 02057:Hong Kong 0A33:UK ZTOA:Germany Z1TO34:Brazil

Address

No. 1685 Huazhi Road, Building One, Qingpu District, Shanghai, CHN, 201708

Website

http://ir.zto.com

ZTO Express is China's largest express delivery company by parcel volume, with a volume share of 22.1% in 2022. It operates a network partner model where it provides line-haul transportation and sorting services, while its local network partners provide first-mile pickup and last-mile delivery services under the ZTO brand name. Headquartered in Shanghai, the company was founded in 2002 by Meisong Lai, who remains the Chairman, CEO, and its major shareholder with 77% voting rights as of June 30, 2023. ZTO's strategic shareholder is leading China e-commerce company, Alibaba Group, with around an 11.7% interest.