HERE vs VIPS
Here Group Ltd. and Vipshop Holdings Ltd., side by side — 5 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | HERE | VIPS |
|---|---|---|
| Revenue | CNY 2.7B | CNY 105.9B |
| Net income | CNY 358.7M | CNY 7.2B |
| Gross margin | 81.5% | 23.1% |
| Net margin | 13.1% | 7.0% |
| Return on equity | 54.1% | 17.9% |
| Diluted EPS | CNY 2.17 | CNY 70.74 |
| Dividend / share | · | · |
| Payout ratio | 21.8% | 24.8% |
| Free cash flow | CNY 180.8M | CNY 5.5B |
| Equity | CNY 809.0M | CNY 41.0B |
| Net debt / equity | −1.01× | −0.42× |
| Current ratio | 2.14× | 1.28× |
| Revenue CAGR 5y | · | 0.8% |
| Profit CAGR 5y | · | · |
VIPS bills 38.9× the revenue of HERE, and HERE keeps more of each dollar of revenue as profit (13.1% against 7.0%).
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.
5 years side by side
| Fiscal year | HERE | VIPS |
|---|---|---|
| FY2024 | CNY 2.7B | CNY 108.4B |
| FY2023 | CNY 3.8B | CNY 112.9B |
| FY2022 | CNY 3.1B | CNY 103.2B |
| FY2021 | CNY 2.9B | CNY 117.1B |
| FY2020 | CNY 1.8B | CNY 101.9B |
Bottom line
| Fiscal year | HERE | VIPS |
|---|---|---|
| FY2024 | CNY 358.7M | CNY 7.7B |
| FY2023 | CNY 385.5M | CNY 8.1B |
| FY2022 | CNY -108.5M | CNY 6.3B |
| FY2021 | CNY -233.4M | CNY 4.7B |
| FY2020 | CNY -316.0M | CNY 5.9B |
5 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2024 | −CNY 105,695,240,000 | VIPS |
| FY2023 | −CNY 109,060,689,000 | VIPS |
| FY2022 | −CNY 100,071,108,000 | VIPS |
| FY2021 | −CNY 114,191,704,000 | VIPS |
| FY2020 | −CNY 100,098,549,000 | VIPS |
VIPS has reported the higher revenue in every one of these 5 fiscal years. The gap has widened since the earliest year compared.
5 of 16 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
HERE's net margin has been more volatile than VIPS's over the 3 comparable fiscal years — 14.0 percentage points of standard deviation against 0.7.
3 of 16 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between HERE and VIPS over these 3 fiscal years — HERE led in 2 and VIPS in 1.
3 of 16 comparable fiscal years — a year missing data on either side is not counted.