Saturday 17 October 2026 Export JD’s income statement to Excel — free account

JD.com, Inc.

JD.com, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $187.2 billion, up 17.9% from fiscal 2024. In the quarter to June 2026, revenue grew 2.54%, EPS grew 27.9%, free cash flow grew 64.8% and total debt fell 12.8%, each against the same quarter a year earlier. Dividend growth for three consecutive years, revenue growth for ten.

27.01 0.38 −1.39%

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Market cap: $32.9B
P/E: 17.3×
Fwd P/E: 10.9×
Dividend yield: 3.70%
F-score: 5/9
Altman Z: 2.61
Beneish M: −2.41
Dividend safety: 48/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 10.94%

Capital & Financial Ratios $m

Market Cap 32,940.00

Revenue 192,738.00

Net Income 3,309.00

Free Cash Flow 7,499.00

Net Debt (26,339.00)

Current Ratio 1.14

Debt/Equity 0.20

P/E ratio 17.31

Fwd P/E 10.90

P/S ratio 0.19

P/B ratio 0.89

Past 5Y EPS Growth (17.66%)

This Y EPS Growth 20.32%

Next Y EPS Growth 26.51%

Next Y revenue growth 8.16%

Next 5Y EPS Growth 23.26%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 40.63%

10-year low 10-year high

P/S against its own 10 years 1.03%

10-year low 10-year high

P/B against its own 10 years 2.14%

10-year low 10-year high

EV/Sales against its own 10 years 0.88%

10-year low 10-year high

Dividends

Payout Ratio 0.69

Annual Dividend Rate 1.00

Annual Dividend Yield 3.70%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.00	1.00
2025	1.00	1.00
2024	0.76	0.76
2023	0.62	0.62
2022	0.00	1.26
2021	Powerpack

predictions special payouts not included in total or ratios

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%

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.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.51	0.74	—	—	—
’25	0.99	0.58	0.48	(0.29)	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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	19.51	25.59	19.21	20.18	32.70	61.65	33.17	24.01	20.82	28.21	Analyst estimates 2026–2028 Powerpack
	High	30.66	48.99	50.68	36.80	92.77	108.29	81.24	67.10	47.82	46.45
People
People	Employees	120,622	157,831	178,927	227,730	242,452	298,717	362,171	425,469	465,626	642,940
	Revenue/emp, $m	0.31	0.35	0.38	0.36	0.47	0.50	0.42	0.36	0.34	0.29
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
	Gross margin, %	15.16	14.02	14.28	14.63	14.63	13.56	14.06	14.72	15.87	16.04
	EBT	(466)	19	(345)	1,967	7,788	(405)	2,012	4,457	7,061	3,621
	EBT margin, %	(1.24)	0.03	(0.51)	2.37	6.81	(0.27)	1.33	2.92	4.45	1.93
	Net income	(492)	(3)	(407)	1,708	7,561	(701)	1,407	3,275	6,118	3,309
	Depreciation	523	644	809	837	930	978	1,049	1,168	1,220	1,394
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
	Earnings	(0.40)	(0.02)	(0.25)	1.20	5.01	(0.36)	0.96	2.17	3.79	1.97
	Cash flow	0.90	2.68	2.11	2.44	4.32	4.27	5.36	5.33	5.32	1.91
	Capex	(0.32)	(0.87)	(2.16)	(0.11)	(0.01)	(2.23)	(1.99)	(1.78)	(1.65)	(1.77)
	Free cash flow	0.58	1.81	(0.05)	2.34	4.30	2.04	3.37	3.55	3.67	0.14
	Book value	3.51	5.66	6.15	8.35	20.74	24.80	25.38	26.50	28.67	29.51
	Shares, m	1,402	1,422	1,439	1,456	1,511	1,554	1,563	1,572	1,495	1,424
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	28.64	18.35	0.00	61.32	12.65	8.98	15.19
	P/S	0.97	1.11	0.45	0.62	1.16	0.73	0.59	0.28	0.33	0.22
	P/B	7.36	7.65	3.40	4.22	4.24	2.83	2.27	1.03	1.21	0.97
	EV/Sales	0.91	1.07	0.39	0.53	0.99	0.54	0.42	0.14	0.17	0.10
	EV/FCF	47.28	13.00	(11.30)	(46.37)	34.90	27.09	50.44	(21.03)	(30.56)	(3.37)
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
	Capex	(447)	(1,243)	(3,108)	(157)	(19)	(3,472)	(3,116)	(2,801)	(2,472)	(2,520)
	Free cash flow	816	2,572	(71)	3,402	6,502	3,166	5,267	5,582	5,487	196
Balance, $m
Balance, $m	Working capital	316	(495)	(2,328)	(133)	9,316	12,245	12,253	5,939	11,943	9,773
	Total debt	4,124	3,659	2,097	1,960	3,304	2,158	6,144	6,619	8,776	10,079
	Net debt	(2,045)	(2,241)	(3,653)	(7,307)	(19,853)	(27,855)	(26,654)	(21,220)	(24,290)	(22,148)
	Shareholders’ equity	4,920	8,052	8,853	12,161	31,339	38,535	39,659	41,658	42,856	42,010
Returns, %
Returns, %	ROA	(2.99)	(0.09)	(1.23)	5.17	14.84	(0.78)	1.84	3.89	6.15	2.88
	ROIC	(6.71)	(1.38)	(4.58)	16.64	10.29	3.80	13.74	11.21	17.87	1.25
	ROE	(11.19)	(0.36)	(4.29)	16.66	34.81	(1.60)	3.85	8.37	13.41	6.62

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 2 Oct 2026

Charts ten years each

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	$117.3B	8.4×	9.1×	+14.08% (above 0%: growing)	−7.17% (below 0%: shrinking)	+25.39% (above 0%: growing)	57.26%	24.71%	Compare
MELI MercadoLibre, Inc.	$94.1B	49.9×	39.6×	+49.76% (above 0%: growing)	−10.86% (below 0%: shrinking)	+22.47% (above 0%: growing)	40.90%	6.72%	Compare
DASH DoorDash, Inc.	$83.7B	97.5×	61.1×	+35.63% (above 0%: growing)	−31.34% (below 0%: shrinking)	+109.01% (above 0%: growing)	52.69%	3.50%	Compare
SE Sea Limited Sponsored ADR	$55.3B	34.6×	28.5×	+48.07% (above 0%: growing)	+5.88% (above 0%: growing)	−6.79% (below 0%: shrinking)	45.58%	8.35%	Compare
EBAY eBay Inc.	$54.7B	24.3×	24.0×	+14.80% (above 0%: growing)	+55.00% (above 0%: growing)	+168.03% (above 0%: growing)	73.45%	21.57%	Compare
JD JD.com, Inc.	$32.9B	17.3×	10.9×	+2.54% (above 0%: growing)	+27.87% (above 0%: growing)	+64.77% (above 0%: growing)	17.12%	1.31%
CPNG Coupang, Inc.	$26.6B	— (loss-making)	— (loss-making)	+3.89% (above 0%: growing)	n/m	−79.35% (below 0%: shrinking)	28.16%	(6.28%)	Compare
W Wayfair Inc.	$15.3B	— (loss-making)	— (loss-making)	+7.52% (above 0%: growing)	n/m	+28.46% (above 0%: growing)	29.95%	2.96%	Compare
CART Maplebear Inc.	$11.8B	26.2×	17.0×	+14.11% (above 0%: growing)	+6.98% (above 0%: growing)	+157.22% (above 0%: growing)	72.00%	13.81%	Compare
Median of peers	$55.0B	30.4×	26.3×	+14.46%	−0.65%	+26.93%	49.14%	7.54%

All 42 Internet Retail stocks →

JD.com, Inc. (JD) key facts

Strength: JD.com, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $187.2 billion, up 17.9% from fiscal 2024.
JD.com, Inc. (JD) is an Internet Retail company in the Consumer Cyclical sector, traded in the US as an ADR.
As of October 16, 2026, JD traded at $27.01, a market capitalization of $32.9 billion.
JD.com, Inc. pays an annual dividend of $1.00 per share, a yield of 3.70%, with a payout ratio of 69.4%.
Return on equity was 6.62% and debt-to-equity 0.20.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 2.61 (grey zone) for fiscal 2025.