DDL vs JD
Dingdong (Cayman) Ltd. and JD.com, Inc., side by side — 7 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | DDL | JD |
|---|---|---|
| Revenue | CNY 24.4B | CNY 1.3T |
| Net income | CNY 231.7M | CNY 23.1B |
| Gross margin | · | 16.0% |
| Net margin | 1.0% | 1.8% |
| Return on equity | 25.2% | · |
| Diluted EPS | · | CNY 6.45 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | CNY 357.8M | CNY 11.2B |
| Equity | CNY 1.0B | CNY 225.0B |
| Net debt / equity | −0.23× | −0.41× |
| Current ratio | 1.05× | 1.22× |
| Revenue CAGR 5y | 16.5% | 11.9% |
| Profit CAGR 5y | · | −14.1% |
JD bills 53.7× the revenue of DDL, and keeps more of each dollar of revenue as profit (1.8% against 1.0%).
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.
7 years side by side
| Fiscal year | DDL | JD |
|---|---|---|
| FY2025 | CNY 24.4B | CNY 1.3T |
| FY2024 | CNY 23.1B | CNY 1.2T |
| FY2023 | CNY 20.0B | CNY 1.1T |
| FY2022 | CNY 24.2B | CNY 1.0T |
| FY2021 | CNY 20.1B | CNY 951.6B |
| FY2020 | CNY 11.3B | CNY 745.8B |
| FY2019 | CNY 3.9B | CNY 576.9B |
Bottom line
| Fiscal year | DDL | JD |
|---|---|---|
| FY2025 | CNY 231.7M | CNY 23.1B |
| FY2024 | CNY 304.4M | CNY 44.7B |
| FY2023 | CNY -91.3M | CNY 23.3B |
| FY2022 | CNY -806.9M | CNY 9.7B |
| FY2021 | CNY -6.4B | CNY -4.5B |
| FY2020 | CNY -3.2B | CNY 49.3B |
| FY2019 | CNY -1.9B | CNY 11.9B |
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −CNY 1,284,725,112,000 | JD |
| FY2024 | −CNY 1,135,752,746,000 | JD |
| FY2023 | −CNY 1,064,690,781,000 | JD |
| FY2022 | −CNY 1,022,014,767,000 | JD |
| FY2021 | −CNY 931,470,874,000 | JD |
| FY2020 | −CNY 734,466,213,000 | JD |
| FY2019 | −CNY 573,007,888,000 | JD |
JD has reported the higher revenue in every one of these 7 fiscal years. The gap has widened since the earliest year compared.
7 of 14 comparable fiscal years — a year missing data on either side is not counted.
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −0.8 pp | JD |
| FY2024 | −2.5 pp | JD |
| FY2023 | −2.6 pp | JD |
| FY2022 | −4.3 pp | JD |
| FY2021 | −31.5 pp | JD |
| FY2020 | −34.6 pp | JD |
| FY2019 | −50.3 pp | JD |
JD has kept the higher net margin in every one of these 7 fiscal years.
7 of 14 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
DDL's net margin has been more volatile than JD's over the 7 comparable fiscal years — 18.6 percentage points of standard deviation against 2.1.
7 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 7 comparable fiscal years — a structural lead, not a recent swing.
7 of 14 comparable fiscal years — a year missing data on either side is not counted.