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

Vipshop Holdings Limited

Vipshop Holdings Limited’s revenue for fiscal 2025 (year ended December 2025) was $15.1 billion, up 1.97% from fiscal 2024. In the quarter to June 2026, revenue grew 1.08%, EPS grew 222.0% and free cash flow grew 38.3%, each against the same quarter a year earlier. Dividend growth for three consecutive years.

12.86 0.31 −2.35%

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Market cap: $5.2B
P/E: 4.1×
Fwd P/E: 5.1×
Dividend yield: 4.82%
F-score: 6/9
Altman Z: 3.76
Beneish M: −2.45
Dividend safety: 88/100

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

Insider Decisions trades per month

Total sells 0.95

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	2	—	2	2	—	2	2

Insider Ownership 17.61%

Capital & Financial Ratios $m

Market Cap 5,240.00

Revenue 15,417.84

Net Income 1,059.57

Free Cash Flow 3,941.08

Net Debt (4,932.84)

Current Ratio 1.28

Debt/Equity 0.00

P/E ratio 4.15

Fwd P/E 5.12

P/S ratio 0.40

P/B ratio 0.97

Past 5Y EPS Growth 9.05%

This Y EPS Growth (22.28%)

Next Y EPS Growth 25.34%

Next Y revenue growth 1.71%

Next 5Y EPS Growth (0.01%)

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 0.92%

10-year low 10-year high

P/S against its own 10 years 15.92%

10-year low 10-year high

P/B against its own 10 years 2.10%

10-year low 10-year high

EV/Sales against its own 10 years 1.07%

10-year low 10-year high

EV/FCF against its own 10 years 1.03%

10-year low 10-year high

Dividends

Payout Ratio 0.21

Annual Dividend Rate 0.62

Annual Dividend Yield 4.82%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.62	0.62
2025	0.48	0.48
2024	0.43	0.43
2023	Powerpack
2022	Powerpack
2021	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	3,983	3,949	4,276	4,933
Receivables	110	126	128	84
Inventory	795	689	737	638
Other	402	414	518	800
	5,290	5,179	5,659	6,455

	2023	2024	2025	Q'26
Payables	2,431	2,081	1,793	1,525
ST’ Debt	—	—	—	—
Other	259	293	285	224
	4,313	4,100	4,416	5,040

Compound Annual Growth %

	10y	5y	3y
Sales	9.33%	(0.60%)	0.42%
Cash Flow	13.68%	(10.06%)	(11.26%)
Earnings	15.49%	2.73%	4.28%
Book Value	27.55%	7.13%	8.76%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	3,852	3,641	—	—	—
’25	3,620	3,602	3,002	4,922	15,146
’24	3,829	3,698	2,946	4,380	14,854
’23	4,010	3,845	3,120	4,921	15,895
’22	3,982	3,663	3,039	4,272	14,956
’21	4,334	4,586	3,868	5,581	18,369
’20	2,654	3,413	3,414	6,130	15,611

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	—	—	—	—	1,066
’24	—	—	—	—	1,251
’23	—	—	—	—	2,030
’22	—	—	—	—	1,525
’21	—	—	—	—	1,058
’20	—	—	—	—	1,812

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	—	—	—	773	773
’24	—	—	—	765	765
’23	—	—	—	1,322	1,322
’22	—	—	—	1,082	1,082
’21	—	—	—	559	559
’20	—	—	—	1,510	1,510

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.65	1.30	—	—	—
’25	0.51	0.41	0.34	0.73	2.02
’24	0.58	0.48	0.28	0.64	1.97
’23	0.46	0.52	0.30	0.75	2.03
’22	0.25	0.29	0.38	0.53	1.43
’21	0.33	0.24	0.14	0.32	1.06
’20	0.14	0.32	0.27	0.54	1.31

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	10.21	7.79	4.31	5.16	11.53	7.48	5.75	13.14	11.50	12.14	Analyst estimates 2026–2028 Powerpack
	High	17.41	15.49	19.14	14.73	28.38	46.00	14.24	19.13	20.19	21.08
People
People	Employees	45,302	58,702	57,638	20,442	7,567	8,013	6,815	14,638	14,966	15,145
	Revenue/emp, $m	0.18	0.19	0.21	0.65	2.06	2.29	2.19	1.09	0.99	1.00
Income, $m
Income, $m	Revenue	8,151	11,206	12,294	13,358	15,611	18,369	14,956	15,895	14,854	15,146
	Gross margin, %	24.03	22.35	20.19	22.24	20.90	19.74	20.96	22.79	23.49	23.12
	EBT	384	391	400	710	1,076	922	1,171	1,407	1,368	1,275
	EBT margin, %	4.71	3.48	3.25	5.32	6.89	5.02	7.83	8.85	9.21	8.42
	Net income	287	291	310	573	907	736	915	1,155	1,074	1,060
	Depreciation	146	172	129	137	175	198	205	214	232	259
Per share, $
Per share, $	Revenue	14.06	19.07	18.59	20.01	23.11	26.98	23.51	28.72	28.01	30.27
	Earnings	0.51	0.51	0.47	0.86	1.34	1.08	1.44	2.07	2.00	2.07
	Cash flow	0.70	0.26	1.26	2.64	2.68	1.55	2.40	3.67	2.36	2.13
	Capex	(0.54)	(0.64)	(0.79)	(0.91)	(0.45)	(0.73)	(0.70)	(1.28)	(0.91)	(0.59)
	Free cash flow	0.17	(0.39)	0.47	1.73	2.24	0.82	1.70	2.39	1.44	1.54
	Book value	1.44	3.73	3.79	4.79	6.67	7.80	7.77	9.81	10.73	12.70
	Shares, m	580	588	661	668	675	681	636	553	530	500
Valuation, ×
Valuation, ×	P/E	21.19	25.00	11.14	16.29	21.96	7.85	9.71	8.35	6.70	8.67
	P/S	0.80	0.66	0.29	0.71	1.22	0.31	0.61	0.60	0.48	0.58
	P/B	7.82	3.35	1.44	2.96	4.22	1.08	1.85	1.77	1.26	1.39
	EV/Sales	0.79	0.58	0.22	0.60	1.02	0.12	0.38	0.36	0.22	0.31
	EV/FCF	8.60	43.50	7.19	5.94	5.80	0.63	1.31	1.27	0.87	1.18
Cash, $m
Cash, $m	Operating cash flow	408	151	836	1,765	1,812	1,058	1,525	2,030	1,251	1,066
	Capex	(310)	(379)	(522)	(610)	(301)	(500)	(444)	(709)	(485)	(293)
	Free cash flow	98	(228)	314	1,156	1,510	559	1,082	1,322	765	773
Balance, $m
Balance, $m	Working capital	0	1,023	201	(129)	706	1,110	755	977	1,079	1,243
	Total debt	631	746	770	9	413	504	526	—	—	—
	Net debt	(58)	(863)	(1,027)	(1,538)	(3,087)	(3,539)	(3,581)	(3,983)	(3,949)	(4,276)
	Shareholders’ equity	833	2,190	2,503	3,196	4,504	5,308	4,940	5,431	5,692	6,355
Returns, %
Returns, %	ROA	8.75	6.34	5.09	8.67	11.31	7.81	9.48	11.62	10.37	9.62
	ROIC	31.44	19.47	14.91	25.85	39.61	30.94	41.32	55.36	45.07	34.97
	ROE	42.19	19.83	13.19	20.25	23.52	14.97	17.82	22.05	19.07	17.19

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 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
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
CHWY Chewy	$8.6B	31.8×	23.1×	+7.28% (above 0%: growing)	+33.33% (above 0%: growing)	−15.49% (below 0%: shrinking)	30.36%	2.76%	Compare
ETSY Etsy, Inc.	$8.2B	40.2×	18.9×	+6.23% (above 0%: growing)	n/m	−64.33% (below 0%: shrinking)	72.43%	18.74%	Compare
GLBE Global-e Online Ltd.	$6.8B	42.7×	28.3×	+39.15% (above 0%: growing)	+366.67% (above 0%: growing)	+15.22% (above 0%: growing)	44.10%	14.94%	Compare
VIPS Vipshop Holdings Limited	$5.2B	4.1×	5.1×	+1.08% (above 0%: growing)	+221.95% (above 0%: growing)	+38.25% (above 0%: growing)	23.29%	6.15%
OZON Ozon Holdings PLC Sponsored ADR	$2.4B	— (loss-making)	— (loss-making)	+31.09% (above 0%: growing)	n/m	+116.83% (above 0%: growing)	10.69%	(9.16%)	Compare
RVLV Revolve Group, Inc.	$1.7B	22.4×	21.7×	+12.44% (above 0%: growing)	+85.71% (above 0%: growing)	−215.06% (below 0%: shrinking)	56.61%	6.36%	Compare
LQDT Liquidity Services, Inc.	$1.4B	41.4×	36.1×	+8.09% (above 0%: growing)	+37.50% (above 0%: growing)	+71.33% (above 0%: growing)	49.26%	10.91%	Compare
Median of peers	$7.5B	36.0×	22.4×	+10.26%	+37.50%	+21.84%	46.68%	8.64%

All 42 Internet Retail stocks →

Vipshop Holdings Limited (VIPS) key facts

Concern: Net income was $1.1 billion, or $2.07 per share (basic), a net margin of 6.84%.
Strength: Vipshop Holdings Limited’s revenue for fiscal 2025 (year ended December 2025) was $15.1 billion, up 1.97% from fiscal 2024.
Vipshop Holdings Limited (VIPS) is an Internet Retail company in the Consumer Cyclical sector, traded in the US as an ADR.
As of October 16, 2026, VIPS traded at $12.86, a market capitalization of $5.2 billion.
At that price the stock trades at 4.1× trailing-twelve-month earnings and 0.4× sales; its P/E is higher than 1% of its own readings over the past ten years.
Vipshop Holdings Limited pays an annual dividend of $0.62 per share, a yield of 4.82%, with a payout ratio of 20.5%.
Return on equity was 17.2% and debt-to-equity 0.00.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 3.76 (safe zone) for fiscal 2025.