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Baozun Inc.

BZUN Consumer Cyclical Internet Retail

Baozun Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, up 10.2% from fiscal 2024.

Revenue
+13.5%
EPS
+150.0%
Free cash flow
+151.7%
Total debt
−5.57%

Quarter to June 2026, against a year earlier

3.43 0.03 −0.87%
Market cap
$184.8M
P/E
0.0×
Fwd P/E
7.7×
Dividend yield
—
F-score
6/9
Altman Z
1.45
Beneish M
−2.68
Dividend safety
45/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 1.66
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 8 4 12 — — 5 3 —
Sell — — — — — — — — — — — —
Insider Ownership 7.62%

Capital & Financial Ratios $m

Size
Market Cap 184.76
Revenue ttm 1,530.82
Net income ttm (28.54)
Free cash flow ttm 16.24
Net debt Q (244.77)
Valuation
P/E 0.00
Forward P/E 7.69
Price / sales 0.13
Forward P/S Powerpack
Price / FCF 12.28
Price / book 0.25
Financial health
Current ratio Q 1.90 (at or above 1.5: strong)
Debt / equity Q 0.23 (at or below 0.5: strong)
Interest coverage Q 7.08
Growth
Revenue growth Q +13.45% (above 0%: growing)
Operating income growth Q +813.98% (above 0%: growing)
EPS, this year +121.99% (at or above 15%: strong)
EPS, next year A +88.81% (at or above 15%: strong)
Revenue, next year A +13.74% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +31.00% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.0×, against a ten-year median of 0.5×; over the ten years it ranged from −0.1× in 2026 to 5.0× in 2018.
P/S against its own 10 years 18.23%
10-year low 10-year high
P/B against its own 10 years 13.27%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 433 401 401 427
Receivables 320 280 312 312
Inventory 147 153 126 120
Other 44 55 52 44
1,027 988 973 995
2023 2024 2025 Q'26
Payables 79 85 67 67
ST’ Debt 157 167 173 183
Other — 0 — —
529 513 521 524

Compound Annual Growth %

10y 5y 3y
Sales 13.49% 0.95% 5.30%
Cash Flow 67.74% 4.82% 2.72%
Earnings 0.00% 0.00% 0.00%
Book Value 15.09% (3.74%) 8.14%

Earnings Trends EPS, adjusted, against the consensus

Dec 2022 Estimate 0.45 Actual 0.34

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Mar 2022 0.02 0.00 Miss by 0.02
Jun 2022 0.09 0.00 Miss by 0.09
Sep 2022 0.05 −0.03 Miss by 0.08
Dec 2022 0.45 0.34 Miss by 0.11

EPS $

Mar Jun Sep Dec Year
’26 (0.02) 0.04 — — —
’25 (0.15) (0.08) (0.26) (0.09) (0.60)
’24 (0.15) (0.07) (0.21) 0.00 (0.42)
’23 (0.21) (0.05) (0.29) (0.11) (0.66)
’22 (0.29) (0.19) (0.40) (0.70) (1.55)
’21 0.00 0.16 (0.62) (0.02) (0.48)
’20 0.00 0.28 0.16 0.49 1.03
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 345 404 — — —
’25 284 356 303 478 1,422
’24 274 329 293 395 1,291
’23 275 320 250 396 1,241
’22 313 317 245 343 1,218
’21 308 357 295 515 1,474
’20 215 305 269 567 1,357
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 — 30 — — —
’25 — — — 60 60
’24 — (13) — 14 14
’23 — — — — 63
’22 — — — — 55
’21 — — — — (15)
’20 — — — — 48
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 — 17 — — —
’25 — — — 38 38
’24 — (24) — (15) (15)
’23 — — — (32) 31
’22 — — — (38) 18
’21 — — — (55) (70)
’20 — (8) — (24) 23
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 488 638 784 1,045 1,357 1,474 1,218 1,241 1,291 1,422 1,531 +12.6% 1,618 1,734 1,850 +9.2%
Gross margin, % 43.31 53.78 62.27 61.88 62.42 65.13 73.15 72.66 73.74 74.10 74.20 +30.8 pt
EBT 15 41 49 50 84 (24) (84) (31) (13) (29) (5) n/m
EBT margin, % 3.02 6.38 6.23 4.79 6.20 (1.64) (6.91) (2.46) (0.99) (2.02) (0.35) (5.0) pt
Net income 12 32 39 40 65 (32) (88) (31) (19) (29) (29) n/m
Per share, $
Per share, $ Revenue 9.77 11.80 13.85 18.27 21.73 20.44 19.94 20.85 21.55 24.59 26.33 +10.8%
Earnings 0.25 0.59 0.69 0.70 1.05 (0.48) (1.55) (0.66) (0.42) (0.60) (0.33) n/m
Cash flow 0.04 (0.48) (0.25) 0.76 0.76 (0.21) 0.91 1.06 0.23 1.04 1.57 +44.1%
Capex (0.27) (0.99) (0.54) (0.38) (0.39) (0.77) (0.62) (0.54) (0.48) (0.38) (1.29) +4.1%
Free cash flow (0.23) (1.47) (0.79) 0.37 0.37 (0.98) 0.29 0.52 (0.24) 0.66 0.28 n/m
Book value 4.53 5.19 5.64 6.50 15.05 11.01 10.06 10.10 9.40 13.44 13.83 +12.8%
Shares, m 50 54 57 57 62 72 61 60 60 58 58 +1.6%
Valuation, ×
Valuation, × P/E 46.59 58.03 41.73 46.65 36.01 0.00 0.00 0.00 0.00 0.00 0.00 22.9
P/S 1.17 2.85 2.11 1.81 1.58 0.68 0.28 0.13 0.13 0.11 0.13 1.1
P/B 2.52 6.48 5.18 5.09 2.28 1.26 0.56 0.26 0.29 0.20 0.25 2.4
EV/Sales 0.87 2.75 2.10 1.80 1.27 0.52 0.11 0.00 0.04 (0.05) (0.03) 0.9
EV/FCF (13.08) (17.06) (11.39) (16.47) 33.05 28.91 5.82 (1.41) (0.38) 2.14 (2.76) 1.0
Cash, $m
Cash, $m Operating cash flow 2 (26) (14) 43 48 (15) 55 63 14 60 91 +46.5%
Capex (13) (54) (30) (22) (24) (55) (38) (32) (29) (22) (75) +5.8%
Free cash flow (11) (80) (45) 21 23 (70) 18 31 (15) 38 16 n/m
Balance, $m
Balance, $m Working capital 198 202 219 484 1,067 695 539 498 475 452 471 +9.6%
Net debt (129) (67) (9) (12) (422) (378) (308) (276) (234) (228) (245) +6.6%
Shareholders’ equity 226 281 319 372 940 794 614 601 563 777 804 +14.7%
Returns, %
Returns, % ROA 3.94 8.04 7.53 5.04 4.97 (1.95) (5.57) (2.67) (1.77) (2.49) (1.44) (6.4) pt
ROIC 8.30 11.51 10.44 9.56 10.33 0.17 0.98 (5.58) (2.99) 0.92 3.39 (7.4) pt
ROE 5.98 12.66 13.08 11.69 9.95 (3.98) (13.45) (6.45) (4.36) (5.17) (2.91) (11.1) pt
People
People Employees 2,984 3,994 5,141 5,979 6,076 8,821 7,588 7,827 7,650 6,762 — +9.5%
Revenue/emp, $m 0.16 0.16 0.15 0.17 0.22 0.17 0.16 0.16 0.17 0.21 — +2.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Baozun Inc. vs peers in Internet Retail (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
RERE ATRenew Inc. Sponsored ADR $566.4M 14.8× 10.0× +39.80% (above 0%: growing) +100.00% (above 0%: growing) −609.63% (below 0%: shrinking) 21.03% 2.70% Compare
NEGG Newegg Commerce, Inc. $194.0M — (loss-making) — (loss-making) −8.23% (below 0%: shrinking) n/m +138.92% (above 0%: growing) 12.40% 0.44% Compare
LOGC ContextLogic Inc. $194.0M — (loss-making) — (loss-making) +380.00% (above 0%: growing) n/m −115.15% (below 0%: shrinking) 37.20% (5.95%) Compare
TDUP ThredUp Inc. $190.4M — (loss-making) — (loss-making) +16.88% (above 0%: growing) n/m +160.75% (above 0%: growing) 79.90% (6.73%) Compare
BZUN Baozun Inc. $184.8M — (loss-making) 7.7× +13.45% (above 0%: growing) n/m +151.68% (above 0%: growing) 75.11% 2.31%
NXH Neighborhood Intelligence, Inc. $183.0M — (loss-making) — (loss-making) +98.03% (above 0%: growing) n/m −205.74% (below 0%: shrinking) 33.96% 0.00% Compare
ZKH ZKH Group Limited Unsponsored ADR $169.5M — (loss-making) 20.6× +19.07% (above 0%: growing) n/m +92.81% (above 0%: growing) 17.58% 0.16% Compare
HOUR Hour Loop, Inc. $53.3M 33.5× — (loss-making) +25.24% (above 0%: growing) −25.00% (below 0%: shrinking) −50.31% (below 0%: shrinking) 52.93% 3.78% Compare
WNW Meiwu Technology Company Limited $50.6M — (loss-making) — +483.75% (above 0%: growing) n/m +221.68% (above 0%: growing) 22.98% 0.00% Compare
Median of peers $186.7M — — +32.52% — +21.25% 28.47% 0.08%

All 42 Internet Retail stocks →

Baozun Inc. (BZUN) Latest News

24 Sep

Impact 3 · · PR Newswire

31 Aug

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27 Aug

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27 May

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20 May

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11 May

Impact 4 · · Simply Wall St.

23 Apr

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26 Mar

Impact 3 · · GuruFocus.com

25 Mar

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9 Jan

Impact 3 · · Simply Wall St.

28 Nov

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25 Nov

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19 Nov

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25 Sep

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29 Aug

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28 Aug

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21 Jul

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17 Jul

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stockrow.com/BZUN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com