DDL vs VIPS
Dingdong (Cayman) Ltd. and Vipshop Holdings Ltd., side by side — 7 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | DDL | VIPS |
|---|---|---|
| Revenue | CNY 24.4B | CNY 105.9B |
| Net income | CNY 231.7M | CNY 7.2B |
| Gross margin | — | 23.1% |
| Net margin | 1.0% | 7.0% |
| Return on equity | 25.2% | 17.9% |
| Diluted EPS | — | CNY 70.74 |
| Dividend / share | — | — |
| Payout ratio | — | 24.8% |
| Free cash flow | CNY 357.8M | CNY 5.5B |
| Equity | CNY 1.0B | CNY 41.0B |
| Net debt / equity | −0.23× | −0.42× |
| Current ratio | 1.05× | 1.28× |
| Revenue CAGR 5y | 16.5% | 0.8% |
| Profit CAGR 5y | — | — |
VIPS bills 4.3× the revenue of DDL, and keeps more of each dollar of revenue as profit (7.0% 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.
Revenue by year
7 years side by side
| Fiscal year | DDL | VIPS |
|---|---|---|
| FY2025 | CNY 24.4B | CNY 105.9B |
| FY2024 | CNY 23.1B | CNY 108.4B |
| FY2023 | CNY 20.0B | CNY 112.9B |
| FY2022 | CNY 24.2B | CNY 103.2B |
| FY2021 | CNY 20.1B | CNY 117.1B |
| FY2020 | CNY 11.3B | CNY 101.9B |
| FY2019 | CNY 3.9B | CNY 93.0B |
Net income by year
Bottom line
| Fiscal year | DDL | VIPS |
|---|---|---|
| FY2025 | CNY 231.7M | CNY 7.2B |
| FY2024 | CNY 304.4M | CNY 7.7B |
| FY2023 | CNY -91.3M | CNY 8.1B |
| FY2022 | CNY -806.9M | CNY 6.3B |
| FY2021 | CNY -6.4B | CNY 4.7B |
| FY2020 | CNY -3.2B | CNY 5.9B |
| FY2019 | CNY -1.9B | CNY 4.0B |
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