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NASDAQ · RETAIL-RETAIL STORES, NEC · LARGE CAP

JD.com, Inc. JD

14 fiscal years on record · CNY · FY2025 reported · SEC filings only
CNY 1.3T
▲ 13.0% YoY
CNY 23.1B
▼ 48.2% YoY
CNY 11.2B
▼ 78.8% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

JD.com operates online retail and marketplace e-commerce businesses, purchasing products from suppliers and selling them directly to its customers. Its online retail business offers electronics products, home appliances and a large variety of other general merchandise categories. As of December 31, 2025, its nationwide fulfillment infrastructure covered almost all counties and districts across China, with a network of over 1,600 warehouses with an aggregate gross floor area of over 34 million square meters. On that same date it had a team of 642,940 warehouse and delivery employees. It provides digital marketing services to marketers on its e-commerce platform, including suppliers to its online retail business, third-party merchants on its online marketplace and other partners. It incurred RMB84.0 billion of marketing expenses in 2025. JD Logistics, whose shares commenced trading on the Main Board of the Hong Kong Stock Exchange in May 2021, offers supply chain solutions and logistics services ranging from warehousing to distribution, spanning across manufacturing to end-customers.

Written from the business description in JD.com, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 16 April 2026. Every sentence was checked against that document before publication.

Growth

CNY 1.31T
Revenue, FY2025 · full 14-year series below
Revenue CNY T Net income CNY T
FY2025 · Revenue 1.3 · Net income 0.0
0.5T1.0T
201220152018202120242025
Compound annual growth
+7.8%
+11.9%
+21.9%
+33.7%
−14.1%
+26.2%
−16.4%
+28.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +11.9% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

2 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 0.2% · Net 1.8%
2%4%6%-2%-4%
201220182025
ROE
FY2016 · ROE -11.8%
-50%-100%
201220182025
Three returns, three denominators.
Return on equityNot available: we don't have a clean profit figure for this period.

Return on equity has no reading this year — return on capital employed, just below, still does: 1%.

Cash & shareholders

CNY 31.8B
returned in FY2025 · dividends + net buybacks
Free cash flow CNY B
FY2025 · FCF 11.2
20B40B
201220182025
Net buybacks CNY B Dividends CNY B
FY2025 · Dividends 10.4 · Net buybacks 21.4
15B30B-15B-30BDividendsNet buybacks
201620182019202020212022202320242025

CNY 10.4B in dividends and CNY 21.4B in buybacks — Not available: we don't have a clean profit figure for this period.

Total assetsCNY 695.2B
EquityCNY 225.0B
CashCNY 137.5B
Gross debtCNY 44.9B
Net debtCNY -92.6B
Current ratio1.22×

The company holds more cash than debt.

The 14-year record

14 fiscal years
Every figure from documents filed with the SEC · CNY

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
JD, 14-year financial record
Metric 20252024202320222021202020192018201720162015201420132012
Revenue CNY B1309.11158.81084.71046.2951.6745.8576.9462.0362.3258.3181.0115.069.341.4
Operating income CNY B2.838.726.019.74.112.39.0−2.6−0.8−1.3−5.4−5.8−0.6−2.0
EBITDA CNY B12.547.634.327.010.418.414.82.93.42.2−2.9−4.2−0.3−1.8
Income tax CNY B2.26.98.44.21.91.51.80.40.10.2−0.00.0−0.00.0
Net income CNY B23.144.723.39.7−4.549.311.9−2.8−0.0−3.4−9.1−5.0−0.0−1.7
Free cash flow CNY B11.252.755.552.336.739.222.2◌◌◌◌◌◌◌
EPS, diluted CNY 6.4513.437.613.21−1.1515.844.11−0.87−0.05−1.36−3.33−5.35−1.47−2.18
Dividend / sh CNY ◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Payout %◌◌◌◌◌◌————————
ROE %◌◌◌◌◌◌◌◌◌−11.8−26.8−25.3−2.7−103.9
Shares out B◌◌◌◌◌◌◌◌◌◌◌◌1.46◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

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Provenance

Company facts, as filed

How we verify · 0 failures in 54 reconciliationsAUDITED

Reconciled in 14 of the 14 fiscal years we could check. 12 checks were skipped: the balance sheet is not tagged before 2013. Five checks were skipped: EPS is not tagged before 2012. Five checks were skipped: revenue is not tagged before 2012.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityRetail-Retail Stores, NEC
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
Data on record since2012

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