BQ vs JD
Boqii Holding Ltd. and JD.com, Inc., side by side — 8 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | BQ | JD |
|---|---|---|
| Revenue | CNY 420.5M | CNY 1.3T |
| Net income | CNY -5.1M | CNY 23.1B |
| Gross margin | 26.3% | 16.0% |
| Net margin | −0.4% | 1.8% |
| Return on equity | −2.7% | · |
| Diluted EPS | −CNY 1.47 | CNY 6.45 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | CNY -30.4M | CNY 11.2B |
| Equity | CNY 188.0M | CNY 225.0B |
| Net debt / equity | −0.09× | −0.41× |
| Current ratio | 3.25× | 1.22× |
| Revenue CAGR 5y | −16.1% | 11.9% |
| Profit CAGR 5y | · | −14.1% |
JD bills 3113.4× the revenue of BQ, and BQ closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
8 years side by side
| Fiscal year | BQ | JD |
|---|---|---|
| FY2025 | CNY 420.5M | CNY 1.3T |
| FY2024 | CNY 468.9M | CNY 1.2T |
| FY2023 | CNY 709.4M | CNY 1.1T |
| FY2022 | CNY 1.1B | CNY 1.0T |
| FY2021 | CNY 1.2B | CNY 951.6B |
| FY2020 | CNY 1.0B | CNY 745.8B |
| FY2019 | CNY 770.2M | CNY 576.9B |
| FY2018 | CNY 803.8M | CNY 462.0B |
Bottom line
| Fiscal year | BQ | JD |
|---|---|---|
| FY2025 | CNY -5.1M | CNY 23.1B |
| FY2024 | CNY -54.1M | CNY 44.7B |
| FY2023 | CNY -63.7M | CNY 23.3B |
| FY2022 | CNY -102.8M | CNY 9.7B |
| FY2021 | CNY -128.4M | CNY -4.5B |
| FY2020 | CNY -194.4M | CNY 49.3B |
| FY2019 | CNY -179.0M | CNY 11.9B |
| FY2018 | CNY -234.2M | CNY -2.8B |
8 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −CNY 1,308,664,533,000 | JD |
| FY2024 | −CNY 1,158,350,106,000 | JD |
| FY2023 | −CNY 1,083,952,648,000 | JD |
| FY2022 | −CNY 1,045,143,906,000 | JD |
| FY2021 | −CNY 950,405,571,000 | JD |
| FY2020 | −CNY 744,791,015,000 | JD |
| FY2019 | −CNY 576,117,763,000 | JD |
| FY2018 | −CNY 461,215,928,000 | JD |
JD has reported the higher revenue in every one of these 8 fiscal years. The gap has widened since the earliest year compared.
8 of 14 comparable fiscal years — a year missing data on either side is not counted.
8 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −2.2 pp | JD |
| FY2024 | −16.4 pp | JD |
| FY2023 | −11.9 pp | JD |
| FY2022 | −10.6 pp | JD |
| FY2021 | −10.7 pp | JD |
| FY2020 | −25.7 pp | JD |
| FY2019 | −24.9 pp | JD |
| FY2018 | −28.2 pp | JD |
JD has kept the higher net margin in every one of these 8 fiscal years.
8 of 14 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
BQ's net margin has been more volatile than JD's over the 8 comparable fiscal years — 8.3 percentage points of standard deviation against 2.2.
8 of 14 comparable fiscal years — a year missing data on either side is not counted.
Year by year
JD led in net margin in every one of the 8 comparable fiscal years — a structural lead, not a recent swing.
8 of 14 comparable fiscal years — a year missing data on either side is not counted.