JD.com, Inc. Sponsored ADR (JD) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$5.61	$6.29	+12.1%	—	$346.4B	—
Q1 26	$3.64	$5.12	+40.7%	—	$315.7B	—
Q3 25	$2.89	$3.73	+29.1%	—	$299.1B	—
Q2 25	$3.56	$4.97	+39.6%	—	$356.7B	—
Q1 25	$7.09	$8.41	+18.6%	—	$301.1B	—
Q4 24	$6.07	$7.42	+22.2%	—	$347B	—
Q3 24	$7.49	$8.68	+15.9%	—	$36.7B	—
Q2 24	$6.19	$9.36	+51.2%	—	$291.4B	—
Q1 24	$4.65	$5.65	+21.5%	—	$260B	—
Q4 23	$4.53	$5.3	+17.0%	—	$306.1B	—
Q3 23	$5.84	$6.7	+14.7%	—	$247.7B	—
Q2 23	$4.92	$5.39	+9.6%	—	$287.9B	—
Q1 23	$3.5	$4.76	+36.0%	—	$243B	—
Q4 22	$3.49	$4.81	+37.8%	—	$295.4B	—
Q3 22	$4.46	$6.27	+40.6%	—	$243.5B	—
Q2 22	$2.76	$4.06	+47.1%	—	$267.6B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$13.8	—	—	$1.3T	—
FY24	—	$27.7	—	—	$1.2T	—
FY23	—	$15.4	—	—	$1.1T	—
FY22	—	$6.64	—	—	$1T

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$258.3B	$362.3B	$462B	$576.9B	$745.8B	$951.6B	$1T	$1.1T	$1.2T	$1.3T
YoY change	+42.7%	+40.3%	+27.5%	+24.9%	+29.3%	+27.6%	+9.95%	+3.67%	+6.84%	+13%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	258.3B	362.3B	462B	576.9B	745.8B	951.6B	1T	1.1T	1.2T	1.3T
Cost of revenue	222.9B	311.5B	396.1B	492.5B	636.7B	822.5B	899.2B	925B	975B	1.1T
Gross profit	35.4B	50.8B	66B	84.4B	109.1B	129.1B	147.1B	159.7B	183.9B	210B
Gross margin	13.7%	14%	14.3%	14.6%	14.6%	13.6%	14.1%	14.7%	15.9%	16%
Research & development	4.5B	6.7B	12.1B	14.6B	16.1B	16.3B	16.9B	16.4B	17B	22.2B
Selling, general & administrative	13.6B	19.1B	24.4B	27.7B	33.6B	50.3B	48.8B	49.8B	56.8B	95.9B
Operating expenses	35.9B	50.8B	67.9B	77.1B	95.9B	123.2B	126B	128.2B	144.3B	206.3B
Operating income	-530.1M	8M	-2B	7.3B	13.2B	5.9B	21.1B	31.5B	39.6B	3.7B
Operating margin	-0.21%	0%	-0.43%	1.27%	1.78%	0.62%	2.02%	2.9%	3.41%	0.28%
Non-operating income, net	-2B	-1.5B	-1.7B	5.3B	36B	-11.4B	-10.9B	-6.5B	5.5B	15.4B
Pretax income	-1.9B	121M	-2.4B	13.7B	50.8B	-2.6B	13.9B	31.6B	51.5B	25.3B
Income tax	166.4M	139.6M	426.9M	1.8B	1.5B	1.9B	4.2B	8.4B	6.9B	2.2B
Net income	-3.4B	-11.7M	-2.8B	11.9B	49.3B	-4.5B	9.7B	23.3B	44.7B	23.1B
Net margin	-1.32%	-0%	-0.61%	2.06%	6.62%	-0.47%	0.93%	2.14%	3.85%	1.77%
EBITDA	1.6B	5.1B	5B	13.5B	26.9B	11.7B	31.3B	49.5B	65.6B	38.9B
EPS	-1.36	-0.05	-0.87	4.18	16.4	-2.3	6.64	15.4	27.7	13.8
Diluted EPS	-1.36	-0.05	-0.87	4.11	15.8	-2.3	6.42	15.2	26.9	12.9

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	247.7B	306.1B	260B	291.4B	36.7B	347B	301.1B	356.7B	299.1B	352.3B	315.7B	346.4B
Cost of revenue	208.9B	262.6B	220.3B	245.5B	30.3B	293.9B	253.2B	300B	248.6B	297.2B	262.7B	287.1B
Gross profit	38.8B	43.5B	39.8B	45.9B	6.3B	53.1B	47.8B	56.6B	50.5B	55.1B	53B	59.3B
Gross margin	15.6%	14.2%	15.3%	15.8%	17.3%	15.3%	15.9%	15.9%	16.9%	15.6%	16.8%	17.1%
Research & development	3.8B	4.3B	4B	4.2B	619.5M	4.4B	4.6B	5.3B	5.6B	6.7B	6.9B	7.3B
Selling, general & administrative	10.4B	15.5B	11.2B	14B	1.7B	19.3B	12.7B	30.3B	24B	28.7B	19B	23.4B
Operating expenses	29.4B	34.6B	31.7B	35.4B	4.7B	43.8B	37B	57.7B	51.7B	59.6B	49.2B	55.2B
Operating income	9.3B	8.9B	8.1B	10.5B	1.7B	9.3B	10.5B	-1.1B	-1.2B	-4.5B	3.8B	4.1B
Operating margin	3.76%	2.92%	3.11%	3.6%	4.63%	2.69%	3.5%	-0.3%	-0.41%	-1.29%	1.21%	1.2%
Non-operating income, net	2.2B	-14.3B	-1B	5.8B	546.8M	-6.1B	3.4B	8.4B	8.6B	-5B	4B	7.2B
Pretax income	10.8B	3.3B	9.1B	15.6B	2.1B	11.6B	13.3B	6.7B	6.6B	-1.4B	7.1B	10.7B
Income tax	2.6B	1.4B	1.7B	2B	339.1M	750M	2.1B	-10M	252M	-124M	1.3B	2B
Net income	8.2B	1.9B	7.4B	13.6B	1.8B	10.9B	11.3B	6.7B	6.4B	-1.2B	5.8B	8.7B
Net margin	3.32%	0.62%	2.83%	4.67%	4.93%	3.13%	3.75%	1.88%	2.13%	-0.35%	1.85%	2.51%
EBITDA	11.5B	12.4B	12B	16.3B	2.2B	12.5B	14.3B	7.1B	7.2B	848M	7.8B	11B
EPS	5.04	2.16	4.56	8.4	8.04	6.78	7.52	4.34	3.72	-1.94	3.72	5.3
Diluted EPS	5	2.14	4.54	8.18	7.72	6.46	7.18	4.14	3.38	-2.08	3.54	5.02

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	517.3B	854.3B	436.7B	744B	1.9T	—	636.1B	331.7B	—	40.9B	35.9B
Enterprise value	515.5B	843.8B	414.8B	701.2B	1.8T	—	481.2B	210B	—	-65.3B	-2.6B
Shares outstanding	20.3B	20.6B	20.9B	21.1B	21.9B	11.3B	11.3B	11.5B	1.5B	1.4B	1.4B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	62.6	39	—	65.6	14.3	—	1.77	17.7
P/S	2	2.36	0.95	1.29	2.58	—	0.61	0.31	—	0.03	0.03
P/B	12.6	16.3	5.68	7.39	8.69	—	2.32	1.12	—	0.14	1.08
EV/EBITDA	320.1	164.5	82.3	52	67.3	—	15.4	4.24	—	-1.68	-1.48
EV/Sales	2	2.33	0.9	1.22	2.43	—	0.46	0.19	—	-0.05	-0.01
Earnings yield	—	—	—	1.6%	2.56%	—	1.52%	7.01%	—	56.6%	5.66%
FCF yield	0.78%	1.81%	-0.11%	2.12%	1.56%	—	5.49%	11.9%	—	11.8%	6.69%
PEG	—	—	—	—	—	—	—	—	—	—	0.8

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	13.7%	14%	14.3%	14.6%	14.6%	13.6%	14.1%	14.7%	15.9%	16%	17.1%
Operating margin	-0.21%	0%	-0.43%	1.27%	1.78%	0.62%	2.02%	2.9%	3.41%	0.28%	1.2%
Net margin	-1.32%	-0%	-0.61%	2.06%	6.62%	-0.47%	0.93%	2.14%	3.85%	1.77%	1.13%
ROE	-8.28%	-0.02%	-3.65%	11.8%	22.3%	-1.81%	3.54%	7.85%	14.3%	7.88%	6.79%
ROA	-2.13%	-0.01%	-1.34%	4.58%	11.7%	-0.9%	1.63%	3.7%	6.4%	3.33%	0.19%
ROIC	-1.35%	0%	-3.61%	11%	12.1%	6.13%	12.4%	13.2%	20.3%	1.8%	1.13%
Return on tangible assets	-2.61%	-0.01%	-1.51%	5.49%	13.5%	-1.04%	2.09%	4.69%	8.01%	4.18%	3.39%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.02	0.97	0.87	0.99	1.35	1.35	1.32	1.16	1.29	1.22	1.14
Quick ratio	0.74	0.62	0.5	0.58	1.01	1.01	1.02	0.9	0.99	0.91	0.82
Debt / equity	0.49	0.45	0.19	0.19	0.14	0.14	0.24	0.23	0.29	0.36	0.37
Debt / assets	0.13	0.13	0.07	0.07	0.07	0.07	0.11	0.11	0.13	0.15	0.15
Net debt / EBITDA	-1.15	-2.04	-4.34	-3.17	-4.28	-12.9	-4.94	-2.46	-2.2	-2.73	-4.34
Interest coverage	-2.04	1.13	-1.78	19.9	46.2	-1.13	7.58	12	18.8	10	8.8
Effective tax rate	0%	100%	0%	13.2%	2.92%	0%	30.1%	26.5%	13.3%	8.61%	14.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	12.7	17.6	22.1	27.3	34	84.5	92.3	94.5	775.1	919.6	948.3
EPS (basic)	-1.36	-0.05	-0.87	4.18	16.4	-2.3	6.64	15.4	27.7	13.8	13.8
EPS (diluted)	-1.36	-0.05	-0.87	4.11	15.8	-2.3	6.42	15.2	26.9	12.9	1.5
Book value per share	2.03	2.54	3.68	4.77	10.1	21.9	24.2	25.8	209.6	206.4	24.5
FCF per share	0.2	0.75	-0.02	0.75	1.37	1.78	3.08	3.44	29.6	3.38	26.2
Cash per share	1.09	1.66	1.74	2.92	6.69	16.5	19.4	16.6	156.5	149.8	164.9
Capex per share	0.17	0.32	0.82	0	0.28	0.81	1.29	0.69	6.22	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.36%	1.81%	3.7%	0%	0.82%	0.96%	1.39%	0.73%	0.8%	—	—
Capex / operating cash flow	110.4%	28.1%	120.6%	0.06%	8.27%	33.1%	32.8%	16.9%	16.6%	—	—
Payout ratio	—	—	—	—	0%	0%	135%	29%	18.5%	44.8%	67.8%
Dividend yield	—	—	—	—	0%	—	2.06%	2.03%	—	25.4%	15%

Yield

15%

trailing twelve months

Frequency

Annual

Last dividend

$1.00

ex-dividend Apr 9, 2026

Payout ratio

68%

of earnings

Dividend growth

2 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Apr 9, 2026	$1.00
Apr 8, 2025	$1.00
Apr 4, 2024	$0.76
Apr 5, 2023	$0.62
May 19, 2022	$1.26

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$247.7B	$306.1B	$260B	$291.4B	$36.7B	$347B	$301.1B	$356.7B	$299.1B	$352.3B	$315.7B	$346.4B
YoY change	+1.71%	+3.6%	+7.04%	+1.2%	-85.2%	+13.4%	+15.8%	+22.4%	+715%	+1.53%	+4.85%	-2.88%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	22.1B	34.3B	36.3B	61.6B	146.7B	185.3B	220B	190.1B	234B	213.2B
Receivables	16.2B	16.4B	11.1B	6.2B	7.1B	11.9B	20.6B	20.3B	25.6B	27.3B
Inventory	28.9B	41.7B	44B	57.9B	58.9B	75.6B	77.9B	68.1B	89.3B	95.4B
Total current assets	106.9B	115B	104.9B	139.1B	234.8B	299.7B	351.1B	307.8B	386.7B	374.4B
Property, plant & equipment	8.4B	17B	29B	37.4B	34.7B	58.7B	88.5B	100.8B	113.4B	129B
Goodwill & intangibles	29.7B	26.7B	23.3B	43.3B	57B	65.2B	132.2B	133B	140.7B	141.8B
Total assets	160.4B	184.1B	209.2B	259.7B	422.3B	496.5B	595.3B	629B	698.2B	695.2B
Accounts payable	46B	74.3B	80B	90.4B	106.8B	140.5B	160.6B	166.2B	192.9B	188.4B
Short-term debt	11.1B	12.9B	4.5B	3.2B	8.8B	11B	19.8B	12.8B	15.2B	20.9B
Total current liabilities	104.7B	118.3B	120.9B	140B	174B	221.6B	266.6B	265.6B	299.5B	306.1B
Long-term debt	9.1B	10.9B	9.9B	15.6B	22.8B	23.1B	45.2B	55.6B	74.6B	86.2B
Total liabilities	119.2B	131.7B	132.3B	159.1B	200.7B	249.7B	321.1B	332.6B	384.9B	401.4B
Shareholders' equity	41.2B	52.4B	76.8B	100.6B	221.6B	246.8B	274.1B	296.4B	313.3B	293.8B
Total debt	20.3B	23.8B	14.4B	18.8B	31.6B	34.1B	65B	68.4B	89.8B	107.1B
Net debt	4.7B	-1.9B	-19.8B	-18.2B	-54.5B	-36.6B	-13.8B	-3.5B	-18.6B	-30.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	242.4B	190.1B	172B	201.9B	26.9B	234B	194.2B	213.8B	198.3B	213.2B	202.1B	221.7B
Receivables	20.7B	20.3B	17.5B	21.6B	2.8B	25.6B	31.4B	42B	39.7B	27.3B	25.4B	28.7B
Inventory	64.6B	68.1B	68B	70.6B	10.3B	89.3B	95.4B	103.5B	101B	95.4B	96.2B	114.6B
Total current assets	357.6B	307.8B	284.1B	322.2B	43.8B	386.7B	357.2B	394B	379.3B	374.4B	364.7B	404.6B
Property, plant & equipment	99.2B	100.8B	102.3B	107.1B	16B	113.4B	115.7B	121.4B	126.8B	129B	130.9B	134.6B
Goodwill & intangibles	138.5B	133B	130.5B	133.7B	18.7B	140.7B	140.1B	140.3B	144.9B	141.8B	141.1B	144.5B
Total assets	617.4B	629B	601.8B	651.6B	90.7B	698.2B	677.9B	706.9B	713.5B	695.2B	685.7B	725.4B
Accounts payable	153.6B	166.2B	146.8B	182.2B	22.9B	192.9B	176.7B	211.7B	189.8B	188.4B	187.2B	229B
Short-term debt	21.8B	12.8B	13.1B	13.4B	2.4B	15.2B	12B	23.5B	29.5B	20.9B	21.2B	27.1B
Total current liabilities	262.4B	265.6B	246.1B	280.2B	37.4B	299.5B	284.1B	322.6B	316.5B	306.1B	309B	354.7B
Long-term debt	48B	55.6B	56.9B	72.7B	10B	74.6B	75.4B	77.3B	82.6B	86.2B	86.8B	78.2B
Total liabilities	321.1B	332.6B	313.9B	363.7B	48.9B	384.9B	369.2B	409.6B	409.1B	401.4B	405B	443B
Shareholders' equity	296.3B	296.4B	288B	287.9B	41.8B	313.3B	308.7B	297.3B	304.4B	293.8B	280.7B	282.4B
Total debt	69.9B	68.4B	70B	86.2B	12.4B	89.8B	87.4B	100.8B	112.1B	107.1B	108B	105.3B
Net debt	-46.1B	-3.5B	-11.6B	1.7B	-1.6B	-18.6B	-9.3B	-15.8B	-980M	-30.4B	6.2B	16.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-2B	-18.6M	-2.8B	11.9B	49.3B	-4.5B	9.7B	23.3B	44.7B	23.1B
Depreciation & amortization	3.4B	4.2B	5.6B	5.8B	6.1B	6.2B	7.2B	8.3B	8.9B	9.7B
Stock-based compensation	2.1B	2.8B	3.7B	3.7B	4.2B	9.1B	7.5B	4.8B	3B	4.7B
Change in working capital	-235.6M	16.6B	7.8B	1.9B	15.3B	17.4B	16.8B	9.6B	3.8B	-10.4B
Operating cash flow	3.2B	23.4B	14.2B	23.9B	74.2B	27.6B	44.3B	46.8B	55.9B	19B
Capital expenditure	-3.5B	-6.6B	-17.1B	-14M	-6.1B	-9.1B	-14.6B	-7.9B	-9.3B	—
Investing cash flow	-16.3B	-17.1B	-21.8B	-24.3B	-56.3B	-66.4B	-48.8B	-54.6B	-253M	51B
Dividends paid	—	—	—	—	0	0	-13.1B	-6.7B	-8.3B	-10.4B
Share repurchases	-5.3B	0	-205.9M	-131M	-312M	-5.2B	-1.8B	-2.5B	-25.9B	-21.4B
Financing cash flow	2.7B	-8.9B	-2B	-7.4B	54.3B	13.5B	-31.7B	-22B	-21B	-26.8B
Net change in cash	-10.5B	-2.7B	-9.6B	-7.8B	72.2B	-25.4B	-36.1B	-29.8B	34.6B	43.2B
Free cash flow	4B	15.5B	-488.1M	15.8B	30.1B	20B	34.9B	39.5B	44.3B	4.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	—	—	7.4B	—	—	—	—	—	—	—	—	—
Depreciation & amortization	—	—	2.2B	—	—	—	—	—	—	—	—	—
Stock-based compensation	—	—	759M	—	—	—	—	—	—	—	—	—
Change in working capital	—	—	-16.4B	—	—	—	—	—	—	—	—	—
Operating cash flow	—	—	-6.7B	—	—	—	—	24.4B	-8B	20.9B	555M	37.7B
Capital expenditure	—	—	-2.4B	—	—	—	—	—	—	—	—	—
Investing cash flow	20B	-18B	28.7B	—	—	—	18.6B	—	—	—	—	—
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	-8.4B	—	—	—	—	—	—	—	—	—
Financing cash flow	—	—	-7.9B	—	—	—	—	—	—	—	—	—
Net change in cash	20B	-18B	14.1B	—	—	—	18.6B	24.4B	-8B	20.9B	555M	37.7B
Free cash flow	15B	11.4B	-14.7B	50.7B	-876.4M	11.1B	-20.6B	24.4B	-8B	6.7B	555M	37.7B

JD.com, Inc. Sponsored ADR Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement