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JD.com, Inc.

JD Consumer Cyclical Internet Retail

JD.com, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $187.2 billion, up 17.9% from fiscal 2024.

Revenue
+2.54%
EPS
+27.9%
Free cash flow
+64.8%
Total debt
−12.8%

Quarter to June 2026, against a year earlier

28.69 0.96 +3.46%
Market cap
$34.4B
P/E
17.6×
Fwd P/E
9.8×
Dividend yield
3.49%
F-score
5/9
Altman Z
2.61
Beneish M
−2.41
Dividend safety
48/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 10.94%

Capital & Financial Ratios $m

Size
Market Cap 34,440.00
Revenue ttm 192,738.00
Net income ttm 3,309.00
Free cash flow ttm 7,499.00
Net debt Q (26,339.00)
Valuation
P/E 17.62
Forward P/E 9.79
Price / sales 0.20
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.95
Financial health
Current ratio Q 1.14
Debt / equity Q 0.20 (at or below 0.5: strong)
Interest coverage Q 6.44
Growth
Revenue growth Q +2.54% (above 0%: growing)
Operating income growth Q +658.33% (above 0%: growing)
EPS, this year +18.85% (at or above 15%: strong)
EPS, next year A +27.69% (at or above 15%: strong)
Revenue, next year A +8.06%
EPS, past 5 yrs −17.66% (below 0%: weak)
EPS, next 5 yrs A +23.05% (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 0.1×, against a ten-year median of 0.5×; over the ten years it ranged from 0.0× in 2026 to 1.4× in 2017.
P/E against its own 10 years 42.81%
10-year low 10-year high
P/S against its own 10 years 2.57%
10-year low 10-year high
P/B against its own 10 years 4.95%
10-year low 10-year high
EV/Sales against its own 10 years 2.13%
10-year low 10-year high

Dividends

Yield
3.49%
Annual rate
1.00
Payout ratio
65.8%
Growth, 2023–26
+17.3%/yr
  1. 0.62 ’23
  2. 0.76 ’24 +23
  3. 1.00 ’25 +32
  4. 1.00 ’26 +0
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 27,839 33,066 32,227 34,643
Receivables 2,859 3,507 3,909 4,231
Inventory 9,586 12,238 13,646 16,887
Other 686 1,702 1,143 1,017
43,354 52,977 53,541 59,631
2023 2024 2025 Q'26
Payables 23,404 26,422 26,938 33,745
ST’ Debt 709 1,039 1,146 521
Other 4,454 4,443 5,206 6,040
37,415 41,034 43,768 52,281

Compound Annual Growth %

10y 5y 3y
Sales 20.93% 10.37% 7.26%
Cash Flow 0.00% (16.07%) (31.32%)
Earnings 0.00% (18.00%) 23.04%
Book Value 24.03% 6.04% 1.94%

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate 0.86 Actual 0.93

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 0.46 0.52 Beat by 0.06
Dec 2025 0.07 0.08 Beat by 0.01
Mar 2026 0.57 0.74 Beat by 0.17
Jun 2026 0.86 0.93 Beat by 0.07
Sep 2026 1.05 — Reports 12 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.51 0.74 — — —
’25 0.99 0.58 0.48 (0.21) 1.84
’24 0.63 1.13 1.10 0.89 3.68
’23 0.57 0.57 0.69 0.30 2.14
’22 (0.30) 0.41 0.50 0.28 0.93
’21 0.34 0.08 (0.28) (0.52) (0.36)
’20 0.10 1.48 0.69 2.33 4.86
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 45,766 51,053 — — —
’25 41,490 49,788 42,009 53,910 187,197
’24 36,016 40,098 37,105 45,539 158,758
’23 35,377 39,708 33,950 43,736 152,771
’22 37,805 39,952 34,236 39,697 151,690
’21 31,011 39,309 33,943 45,064 149,326
’20 20,648 28,457 25,659 39,535 114,299
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 80 5,561 — — —
’25 (2,517) 3,375 (1,123) 2,981 2,716
’24 (1,567) 6,992 (693) 3,227 7,959
’23 (3,146) 6,580 2,036 2,913 8,383
’22 (549) 5,055 1,023 2,854 8,383
’21 (1,146) 4,458 2,249 1,077 6,638
’20 (218) 3,767 1,949 1,022 6,520
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 80 5,561 — — —
’25 (2,517) 3,375 (1,123) 461 196
’24 (2,038) 6,992 (693) 755 5,487
’23 (3,146) 6,580 2,036 112 5,582
’22 (549) 5,055 1,023 (262) 5,267
’21 (1,146) 4,458 2,249 (2,395) 3,166
’20 (218) 3,767 1,949 1,003 6,502
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
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 37,465 55,689 67,198 82,865 114,299 149,326 151,690 152,771 158,758 187,197 192,738 +19.6% 202,293 213,438 223,794 +6.1%
Gross margin, % 15.16 14.02 14.28 14.63 14.63 13.56 14.06 14.72 15.87 16.04 16.58 +0.9 pt
EBT (466) 19 (345) 1,967 7,788 (405) 2,012 4,457 7,061 3,621 3,446 n/m
EBT margin, % (1.24) 0.03 (0.51) 2.37 6.81 (0.27) 1.33 2.92 4.45 1.93 1.79 +3.2 pt
Net income (492) (3) (407) 1,708 7,561 (701) 1,407 3,275 6,118 3,309 3,309 n/m
Per share, $
Per share, $ Revenue 26.72 39.15 46.70 56.90 75.65 96.11 97.06 97.18 106.20 131.50 143.04 +19.4%
Earnings (0.40) (0.02) (0.25) 1.20 5.01 (0.36) 0.96 2.17 3.79 1.97 1.63 n/m
Cash flow 0.90 2.68 2.11 2.44 4.32 4.27 5.36 5.33 5.32 1.91 5.57 +8.7%
Capex (0.32) (0.87) (2.16) (0.11) (0.01) (2.23) (1.99) (1.78) (1.65) (1.77) 0.00 +21.0%
Free cash flow 0.58 1.81 (0.05) 2.34 4.30 2.04 3.37 3.55 3.67 0.14 5.57 (14.8%)
Book value 3.51 5.66 6.15 8.35 20.74 24.80 25.38 26.50 28.67 29.51 30.89 +26.7%
Shares, m 1,402 1,422 1,439 1,456 1,511 1,554 1,563 1,572 1,495 1,424 1,392 +0.2%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 28.64 18.35 0.00 61.32 12.65 8.98 14.65 17.62 14.5
P/S 0.97 1.11 0.45 0.62 1.16 0.73 0.59 0.28 0.33 0.22 0.20 0.6
P/B 7.36 7.65 3.40 4.22 4.24 2.83 2.27 1.03 1.21 0.97 0.95 3.5
EV/Sales 0.91 1.07 0.39 0.53 0.99 0.54 0.42 0.14 0.17 0.10 0.06 0.5
EV/FCF 47.28 13.00 (11.30) (46.37) 34.90 27.09 50.44 (21.03) (30.56) (3.37) (16.10) 6.0
Cash, $m
Cash, $m Operating cash flow 1,263 3,815 3,037 3,560 6,520 6,638 8,383 8,383 7,959 2,716 7,499 +8.9%
Capex (447) (1,243) (3,108) (157) (19) (3,472) (3,116) (2,801) (2,472) (2,520) (8,264) +21.2%
Free cash flow 816 2,572 (71) 3,402 6,502 3,166 5,267 5,582 5,487 196 7,499 (14.7%)
Balance, $m
Balance, $m Working capital 316 (495) (2,328) (133) 9,316 12,245 12,253 5,939 11,943 9,773 7,350 +46.4%
Net debt (2,045) (2,241) (3,653) (7,307) (19,853) (27,855) (26,654) (21,220) (24,290) (22,148) (26,339) +30.3%
Shareholders’ equity 4,920 8,052 8,853 12,161 31,339 38,535 39,659 41,658 42,856 42,010 41,617 +26.9%
Returns, %
Returns, % ROA (2.99) (0.09) (1.23) 5.17 14.84 (0.78) 1.84 3.89 6.15 2.88 2.17 +5.9 pt
ROIC (6.71) (1.38) (4.58) 16.64 10.29 3.80 13.74 11.21 17.87 1.25 1.18 +8.0 pt
ROE (11.19) (0.36) (4.29) 16.66 34.81 (1.60) 3.85 8.37 13.41 6.62 0.00 +17.8 pt
People
People Employees 120,622 157,831 178,927 227,730 242,452 298,717 362,171 425,469 465,626 642,940 — +20.4%
Revenue/emp, $m 0.31 0.35 0.38 0.36 0.47 0.50 0.42 0.36 0.34 0.29 — (0.7%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026

JD.com, 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
PDD PDD Holdings Inc. Sponsored ADR $119.5B 8.7× 8.0× +14.08% (above 0%: growing) −7.17% (below 0%: shrinking) +25.39% (above 0%: growing) 57.26% 24.71% Compare
DASH DoorDash, Inc. $78.5B 74.2× 64.3× +33.95% (above 0%: growing) +87.72% (above 0%: growing) +8.85% (above 0%: growing) 52.97% 9.58% Compare
MELI MercadoLibre, Inc. $77.6B 40.8× 42.6× +45.09% (above 0%: growing) +6.13% (above 0%: growing) −5.96% (below 0%: shrinking) 40.78% 6.29% Compare
EBAY eBay Inc. $54.2B 26.4× 27.7× +13.69% (above 0%: growing) −19.47% (below 0%: shrinking) −2.09% (below 0%: shrinking) 72.33% 19.21% Compare
SE Sea Limited Sponsored ADR $42.9B 27.9× 25.2× +48.07% (above 0%: growing) +5.88% (above 0%: growing) −6.79% (below 0%: shrinking) 45.58% 8.35% Compare
JD JD.com, Inc. $34.4B 17.6× 9.8× +2.54% (above 0%: growing) +27.87% (above 0%: growing) +64.77% (above 0%: growing) 17.12% 1.31%
CPNG Coupang, Inc. $29.4B — (loss-making) — (loss-making) +7.50% (above 0%: growing) n/m −116.29% (below 0%: shrinking) 25.71% (4.52%) Compare
W Wayfair Inc. $15.5B — (loss-making) — (loss-making) +9.72% (above 0%: growing) n/m +31.25% (above 0%: growing) 29.59% 3.10% Compare
CART Maplebear Inc. $13.7B 29.2× 24.6× +16.61% (above 0%: growing) +14.81% (above 0%: growing) +12.50% (above 0%: growing) 71.78% 0.00% Compare
Median of peers $48.5B 28.5× 26.5× +15.35% +6.01% +3.38% 49.27% 7.32%

All 42 Internet Retail stocks →

JD.com, Inc. (JD) Latest News

4 Nov

Impact 3 · · retail-insight-network.com

27 Oct

Impact 3 · · Zacks

26 Oct

Impact 3 · · 24/7 Wall St.

23 Oct

Impact 3 · · Simply Wall St.

22 Oct

Impact 4 · · PR Newswire

21 Oct

Impact 3 · · Zacks

19 Oct

Impact 3 · · Zacks

15 Oct

Impact 3 · · Zacks

14 Oct

Impact 3 · · Zacks

13 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.
Impact 3 · · Zacks

7 Oct

Impact 3 · · Zacks

5 Oct

Impact 4 · · retail-insight-network.com
Impact 3 · · Zacks

30 Sep

Impact 3 ·

29 Sep

Impact 3 · · qz.com

24 Sep

Impact 3 ·

22 Sep

Impact 3 · · Zacks

16 Sep

Impact 3 ·

3 Sep

Impact 3 · · The Telegraph

26 Aug

Impact 3 · · Barchart
Impact 3 ·

25 Aug

Impact 3 ·

23 Aug

Impact 4 ·

21 Aug

Impact 3 · · retail-insight-network.com

20 Aug

Impact 3 · · retail-insight-network.com

15 Aug

Impact 4 ·

14 Aug

Impact 4 ·
Impact 3 ·

JD metrics, ten years each

stockrow.com/JD · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com