JBHT vs ZTO: JB Hunt Transport Services and ZTO Express (Cayman) compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- JB Hunt Transport Services is the larger company, worth $23.3B, about 1.6 times ZTO Express (Cayman).
- JB Hunt Transport Services grew revenue faster over the last year (+19.4% vs +10.9%).
- ZTO Express (Cayman) keeps more of each dollar of revenue as operating profit (21.3% vs 7.5%).
- On earnings, ZTO Express (Cayman) is the cheaper stock (11.1x vs 38.4x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | JBHT | ZTO |
|---|---|---|
| Market cap | $23.3B | $14.3B |
| Share price | $229.26 | $20.15 |
| Revenue (last fiscal year) | $12.0B | $49.1B |
| Free cash flow (last fiscal year) | $948M | $6.8B |
| Revenue growth, last year | +19.4% | +10.9% |
| Revenue growth per year, last 5 fiscal years | -0.3% | +12.7% |
| Operating margin | 7.5% | 21.3% |
| Net margin | 5.3% | 18.5% |
| Return on equity | 18.4% | 13.7% |
| P/E (trailing) | 38.4x | 11.1x |
| Price / free cash flow | 24.6x | 2.43x |
| EV / EBITDA | 14.0x | 9.63x |
| FCF growth the price implies | 7.7% | — |
| Dividend yield | 0.71% | 3.7% |
| Debt / equity | 1.17x | 0.36x |
| Fundamental grade | C | B |
| Superinvestors holding it | 0 | 1 |
| Insider purchases, last 12 months | 3 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
JB Hunt Transport Services
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $12.2B | $276M | 8.6% |
| 2022 | $14.8B | $236M | 9.0% |
| 2023 | $12.8B | -$118M | 7.7% |
| 2024 | $12.1B | $618M | 6.9% |
| 2025 | $12.0B | $948M | 7.2% |
ZTO Express (Cayman)
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $30.4B | -$1.1B | 18.1% |
| 2022 | $35.4B | $4.4B | 21.9% |
| 2023 | $38.4B | $6.8B | 26.0% |
| 2024 | $44.3B | $6.2B | 26.6% |
| 2025 | $49.1B | $6.8B | 21.3% |
Where the revenue comes from
JB Hunt Transport Services · by segments, 2025
JBI$6.0B50%
DCS$3.4B28%
ICS$1.1B9%
FMS$824M7%
JBT$734M6%
ZTO Express (Cayman) · by products, 2024
Express delivery services$41.0B92%
Sale of accessories$2.3B5%
Freight forwarding services$885M2%
Others$142M0%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open JBHT in InvestinglyQuestions
Which is bigger, JB Hunt Transport Services or ZTO Express (Cayman)?
JB Hunt Transport Services (JBHT), at $23.3B against $14.3B.
Is JBHT or ZTO cheaper?
By trailing P/E, ZTO Express (Cayman) (11.1x) is cheaper than JB Hunt Transport Services (38.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, JBHT or ZTO?
JB Hunt Transport Services: revenue grew +19.4% over the last year, against +10.9%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.