DDL vs VIPS
Dingdong (Cayman) Limited and Vipshop Holdings Limited, side by side — 7 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | DDL | VIPS |
|---|---|---|
| Revenue | ¥24.4B | ¥105.9B |
| Net income | ¥231.7M | ¥7.2B |
| Gross margin | — | 23.1% |
| Net margin | 1.0% | 6.8% |
| Return on equity | 25.2% | 17.9% |
| Diluted EPS | — | ¥70.74 |
| Dividend / share | — | — |
| Payout ratio | — | 24.8% |
| Free cash flow | ¥357.8M | ¥5.5B |
| Equity | ¥1.0B | ¥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 | — | 4.1% |
VIPS bills 4.3× the revenue of DDL, and keeps more of each dollar of revenue as profit (6.8% 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.
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Revenue by year
7 years side by side
| Fiscal year | DDL | VIPS |
|---|---|---|
| FY2025 | ¥24.4B | ¥105.9B |
| FY2024 | ¥23.1B | ¥108.4B |
| FY2023 | ¥20.0B | ¥112.9B |
| FY2022 | ¥24.2B | ¥103.2B |
| FY2021 | ¥20.1B | ¥117.1B |
| FY2020 | ¥11.3B | ¥101.9B |
| FY2019 | ¥3.9B | ¥93.0B |
Net income by year
Bottom line
| Fiscal year | DDL | VIPS |
|---|---|---|
| FY2025 | ¥231.7M | ¥7.2B |
| FY2024 | ¥304.4M | ¥7.7B |
| FY2023 | ¥-91.3M | ¥8.1B |
| FY2022 | ¥-806.9M | ¥6.3B |
| FY2021 | ¥-6.4B | ¥4.7B |
| FY2020 | ¥-3.2B | ¥5.9B |
| FY2019 | ¥-1.9B | ¥4.0B |
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