JD vs VIPS
JD.com, Inc. and Vipshop Holdings Limited, side by side — 10 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | JD | VIPS |
|---|---|---|
| Revenue | ¥1.3T | ¥105.9B |
| Net income | ¥23.1B | ¥7.2B |
| Gross margin | 16.0% | 23.1% |
| Net margin | 1.8% | 6.8% |
| Return on equity | 10.0% | 17.9% |
| Diluted EPS | — | ¥70.74 |
| Dividend / share | — | — |
| Payout ratio | 44.8% | 24.8% |
| Free cash flow | ¥11.2B | ¥5.5B |
| Equity | ¥225.0B | ¥41.0B |
| Net debt / equity | −0.41× | −0.42× |
| Current ratio | 1.22× | 1.28× |
| Revenue CAGR 5y | 11.9% | 0.8% |
| Profit CAGR 5y | −14.1% | 4.1% |
JD bills 12.4× the revenue of VIPS, and VIPS keeps more of each dollar of revenue as profit (6.8% against 1.8%).
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
10 years side by side
| Fiscal year | JD | VIPS |
|---|---|---|
| FY2025 | ¥1.3T | ¥105.9B |
| FY2024 | ¥1.2T | ¥108.4B |
| FY2023 | ¥1.1T | ¥112.9B |
| FY2022 | ¥1.0T | ¥103.2B |
| FY2021 | ¥951.6B | ¥117.1B |
| FY2020 | ¥745.8B | ¥101.9B |
| FY2019 | ¥576.9B | ¥93.0B |
| FY2018 | ¥462.0B | ¥84.5B |
| FY2017 | ¥362.3B | ¥72.9B |
| FY2016 | ¥258.3B | ¥56.6B |
Net income by year
Bottom line
| Fiscal year | JD | VIPS |
|---|---|---|
| FY2025 | ¥23.1B | ¥7.2B |
| FY2024 | ¥44.7B | ¥7.7B |
| FY2023 | ¥23.3B | ¥8.1B |
| FY2022 | ¥9.7B | ¥6.3B |
| FY2021 | ¥-4.5B | ¥4.7B |
| FY2020 | ¥49.3B | ¥5.9B |
| FY2019 | ¥11.9B | ¥4.0B |
| FY2018 | ¥-2.8B | ¥2.1B |
| FY2017 | ¥-11.7M | ¥1.9B |
| FY2016 | ¥-3.4B | ¥2.0B |
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