Alibaba Group Financials
Alibaba Group (BABAF) reported $148.4B in revenue for fiscal year 2026, up 8.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Core operations weakened sharply in FY2026 even as gross margin stayed near 40.0% and revenue kept rising.
FY2026 shows a widening gap between accounting earnings and the operating engine: revenue rose to$148.4B and gross margin held at39.8% , yet operating cash flow fell to$11.0B and operating margin dropped to4.9% . Because net income of$15.0B exceeded operating income of$7.3B , reported profit depended less on current-year operations than in FY2025, when cash flow and operating profit were much closer.
The margin shape says the pressure was below gross profit, not a simple demand collapse: gross margin was essentially flat versus FY2025 at
The balance sheet still has a positive working-capital cushion, but it is thinner: cash fell from
Financial Health Signals
Alibaba Group does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Alibaba Group passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Alibaba Group generates $0.74 in operating cash flow ($11.0B OCF vs $15.0B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Alibaba Group earns $5.12 in operating income for every $1 of interest expense ($7.3B vs $1.4B). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Alibaba Group generated $148.4B in revenue in fiscal year 2026. This represents an increase of 8.1% from the prior year.
Alibaba Group reported $15.0B in net income in fiscal year 2026. This represents a decrease of 16.2% from the prior year.
Not reported for fiscal year 2026.
Cash & Balance Sheet
Alibaba Group held $19.1B in cash as of fiscal year 2026; long-term debt is not reported for that period.
Not reported for fiscal year 2026.
Not reported for fiscal year 2026.
Margins & Returns
Alibaba Group's gross margin was 39.8% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the prior year.
Alibaba Group's operating margin was 4.9% in fiscal year 2026, reflecting core business profitability. This is down 9.2 percentage points from the prior year.
Alibaba Group's net profit margin was 10.1% in fiscal year 2026, showing the share of revenue converted to profit. This is down 2.9 percentage points from the prior year.
Alibaba Group's ROE was 9.8% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 3.1 percentage points from the prior year.
Capital Allocation
Alibaba Group invested $9.6B in research and development in fiscal year 2026. This represents an increase of 22.5% from the prior year.
Alibaba Group spent $1.1B on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 90.7% from the prior year.
Not reported for fiscal year 2026.
BABAF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $148.4B+8.1% | $137.3B+5.3% | $130.3B+3.1% | $126.5B-6.0% | $134.6B+22.9% | $109.5B+52.1% | $72.0B+28.2% | $56.2B+40.7% | $39.9B+73.5% | $23.0B+46.6% | $15.7B+27.6% | $12.3B |
| Cost of Revenue | $89.3B+8.3% | $82.4B+1.5% | $81.2B+1.5% | $80.0B-5.9% | $85.1B+32.4% | $64.3B+61.2% | $39.9B+29.3% | $30.8B+80.7% | $17.1B+97.5% | $8.6B+62.2% | $5.3B+38.6% | $3.8B |
| Gross Profit | $59.1B+7.7% | $54.9B+11.6% | $49.1B+5.8% | $46.4B-6.1% | $49.5B+9.5% | $45.2B+40.8% | $32.1B+26.8% | $25.3B+10.9% | $22.8B+59.1% | $14.4B+38.6% | $10.4B+22.6% | $8.4B |
| R&D Expenses | $9.6B+22.5% | $7.9B+8.8% | $7.2B-12.4% | $8.3B-5.6% | $8.7B+0.1% | $8.7B+43.6% | $6.1B+9.1% | $5.6B+53.7% | $3.6B+46.3% | $2.5B+15.9% | $2.1B+24.3% | $1.7B |
| SG&A Expenses | $4.8B-21.3% | $6.1B+4.8% | $5.8B-5.3% | $6.1B+22.0% | $5.0B-40.3% | $8.4B+111.7% | $4.0B+7.4% | $3.7B+43.2% | $2.6B+45.6% | $1.8B+24.5% | $1.4B+13.5% | $1.3B |
| Operating Income | $7.3B-62.6% | $19.4B+23.7% | $15.7B+7.4% | $14.6B+33.0% | $11.0B-19.7% | $13.7B+6.0% | $12.9B+51.8% | $8.5B-23.0% | $11.1B+58.3% | $7.0B+54.7% | $4.5B+20.9% | $3.7B |
| Interest Expense | $1.4B+7.3% | $1.3B+20.2% | $1.1B+27.7% | $862.0M+11.4% | $774.0M+13.3% | $683.0M-6.6% | $731.0M-5.4% | $773.0M+36.1% | $568.0M+46.4% | $388.0M+28.9% | $301.0M-32.1% | $443.0M |
| Income Tax | $4.4B-10.8% | $4.9B+56.5% | $3.1B+37.8% | $2.3B-46.5% | $4.2B-5.3% | $4.5B+53.9% | $2.9B+17.8% | $2.5B-15.0% | $2.9B+44.9% | $2.0B+52.8% | $1.3B+26.6% | $1.0B |
| Net Income | $15.0B-16.2% | $17.9B+61.8% | $11.1B+4.6% | $10.6B+7.9% | $9.8B-57.3% | $23.0B+8.9% | $21.1B+61.2% | $13.1B+28.2% | $10.2B+61.0% | $6.3B-42.8% | $11.1B+183.2% | $3.9B |
| EPS (Diluted) | $0.80 | $0.92+70.4% | $0.54+8.0% | $0.50+11.1% | $0.45-56.7% | $1.04+5.1% | $0.99 | $0.62 | $3.91+58.3% | $2.47-43.0% | $4.33+177.6% | $1.56 |
BABAF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $276.8B+11.3% | $248.6B+1.7% | $244.4B-4.2% | $255.3B-4.6% | $267.5B+3.7% | $258.0B+39.1% | $185.4B+28.9% | $143.8B+25.8% | $114.3B+55.3% | $73.6B+30.3% | $56.5B+37.2% | $41.2B |
| Current Assets | $88.5B-4.7% | $92.9B-10.9% | $104.3B+2.6% | $101.6B+0.9% | $100.7B+2.6% | $98.2B+50.2% | $65.4B+62.3% | $40.3B-1.7% | $40.9B+55.0% | $26.4B+27.1% | $20.8B-9.3% | $22.9B |
| Cash & Equivalents | $19.1B-4.9% | $20.0B-41.7% | $34.4B+22.2% | $28.1B-6.1% | $30.0B-38.9% | $49.0B+5.1% | $46.7B+64.9% | $28.3B-10.9% | $31.8B+38.7% | $22.9B+47.7% | $15.5B-7.5% | $16.8B |
| Goodwill | $35.9B+1.9% | $35.2B-2.1% | $36.0B-7.9% | $39.0B-8.2% | $42.5B-4.8% | $44.7B+14.3% | $39.1B-1.0% | $39.5B+52.7% | $25.9B+41.9% | $18.2B+43.9% | $12.7B+87.2% | $6.8B |
| Total Liabilities | $113.6B+15.4% | $98.4B+8.9% | $90.3B-1.5% | $91.8B-5.2% | $96.8B+4.5% | $92.6B+51.3% | $61.2B+17.5% | $52.1B+17.7% | $44.3B+66.8% | $26.5B+49.4% | $17.8B+13.1% | $15.7B |
| Current Liabilities | $69.1B+15.1% | $60.0B+2.8% | $58.4B+4.0% | $56.1B-7.3% | $60.5B+5.1% | $57.6B+68.6% | $34.2B+10.4% | $30.9B+42.9% | $21.7B+59.3% | $13.6B+68.4% | $8.1B+26.1% | $6.4B |
| Total Equity | $153.8B+10.5% | $139.2B+1.8% | $136.6B-5.2% | $144.1B-3.7% | $149.6B+4.6% | $143.1B+34.1% | $106.7B+45.4% | $73.3B+25.8% | $58.3B+44.0% | $40.5B+20.4% | $33.7B+43.4% | $23.5B |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Long-Term Debt, Retained Earnings.
BABAF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $11.0B-51.0% | $22.5B-10.9% | $25.3B-13.1% | $29.1B+29.2% | $22.5B-36.3% | $35.4B+38.7% | $25.5B+13.4% | $22.5B+12.7% | $20.0B+71.0% | $11.7B+32.4% | $8.8B+32.6% | $6.6B |
| Investing Cash Flow | -$9.8B+61.8% | -$25.6B-745.2% | -$3.0B+84.7% | -$19.7B+37.0% | -$31.3B+15.9% | -$37.3B-144.2% | -$15.3B+32.2% | -$22.5B-68.3% | -$13.4B-17.5% | -$11.4B | N/A | N/A |
| Financing Cash Flow | -$3.0B+71.6% | -$10.5B+29.9% | -$15.0B-56.9% | -$9.6B+6.0% | -$10.2B-321.5% | $4.6B-54.1% | $10.0B+1008.8% | -$1.1B-133.9% | $3.2B-32.1% | $4.8B | N/A | N/A |
| Dividends Paid | $4.9B+22.0% | $4.0B+61.2% | $2.5B | N/A | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $1.1B-90.7% | $11.9B-2.8% | $12.3B+12.9% | $10.9B+12.7% | $9.7B+8084.7% | $118.0M | N/A | $1.6B | N/A | $1.9B-37.6% | $3.1B+6877.3% | $44.0M |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
BABAF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.8%-0.1pp | 40.0%+2.3pp | 37.7%+1.0pp | 36.7%0.0pp | 36.8%-4.5pp | 41.3%-3.3pp | 44.6%-0.5pp | 45.1%-12.1pp | 57.2%-5.2pp | 62.4%-3.6pp | 66.0%-2.7pp | 68.7% |
| Operating Margin | 4.9%-9.2pp | 14.1%+2.1pp | 12.0%+0.5pp | 11.6%+3.4pp | 8.2%-4.3pp | 12.5%-5.4pp | 17.9%+2.8pp | 15.2%-12.6pp | 27.7%-2.7pp | 30.4%+1.6pp | 28.8%-1.6pp | 30.4% |
| Net Margin | 10.1%-2.9pp | 13.1%+4.6pp | 8.5%+0.1pp | 8.4%+1.1pp | 7.3%-13.7pp | 21.0%-8.3pp | 29.3%+6.0pp | 23.3%-2.3pp | 25.6%-2.0pp | 27.6%-43.1pp | 70.7%+38.8pp | 31.8% |
| Return on Equity | 9.8%-3.1pp | 12.9%+4.8pp | 8.1%+0.8pp | 7.3%+0.8pp | 6.6%-9.5pp | 16.1%-3.7pp | 19.8%+1.9pp | 17.8%+0.3pp | 17.5%+1.8pp | 15.7%-17.3pp | 32.9%+16.2pp | 16.7% |
| Return on Assets | 5.4%-1.8pp | 7.2%+2.7pp | 4.5%+0.4pp | 4.2%+0.5pp | 3.7%-5.2pp | 8.9%-2.5pp | 11.4%+2.3pp | 9.1%+0.2pp | 8.9%+0.3pp | 8.6%-11.0pp | 19.6%+10.1pp | 9.5% |
| Current Ratio | 1.28-0.3x | 1.55-0.2x | 1.790.0x | 1.81+0.1x | 1.660.0x | 1.70-0.2x | 1.91+0.6x | 1.30-0.6x | 1.89-0.1x | 1.94-0.6x | 2.58-1.0x | 3.58 |
| Debt-to-Equity | 0.740.0x | 0.710.0x | 0.660.0x | 0.640.0x | 0.650.0x | 0.65+0.1x | 0.57-0.1x | 0.710.0x | 0.76+0.1x | 0.66+0.1x | 0.53-0.1x | 0.67 |
Not reported in any period shown, so not listed: FCF Margin.
Where Alibaba Group Ranks
Frequently Asked Questions
What is Alibaba Group's annual revenue?
Alibaba Group (BABAF) reported $148.4B in total revenue for fiscal year 2026. This represents a 8.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Alibaba Group's revenue growing?
Alibaba Group (BABAF) revenue grew by 8.1% year-over-year, from $137.3B to $148.4B in fiscal year 2026.
Is Alibaba Group profitable?
Yes, Alibaba Group (BABAF) reported a net income of $15.0B in fiscal year 2026, with a net profit margin of 10.1%.
What is Alibaba Group's gross margin?
Alibaba Group (BABAF) had a gross margin of 39.8% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Alibaba Group's operating margin?
Alibaba Group (BABAF) had an operating margin of 4.9% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Alibaba Group's net profit margin?
Alibaba Group (BABAF) had a net profit margin of 10.1% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Alibaba Group's return on equity (ROE)?
Alibaba Group (BABAF) has a return on equity of 9.8% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Alibaba Group's operating cash flow?
Alibaba Group (BABAF) generated $11.0B in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Alibaba Group's total assets?
Alibaba Group (BABAF) had $276.8B in total assets as of fiscal year 2026, including both current and long-term assets.
How much does Alibaba Group spend on research and development?
Alibaba Group (BABAF) invested $9.6B in research and development during fiscal year 2026.
What is Alibaba Group's current ratio?
Alibaba Group (BABAF) had a current ratio of 1.28 as of fiscal year 2026, which is considered adequate.
What is Alibaba Group's debt-to-equity ratio?
Alibaba Group (BABAF) had a debt-to-equity ratio of 0.74 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Alibaba Group's return on assets (ROA)?
Alibaba Group (BABAF) had a return on assets of 5.4% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Alibaba Group's Piotroski F-Score?
Alibaba Group (BABAF) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Alibaba Group's earnings high quality?
Alibaba Group (BABAF) has an earnings quality ratio of 0.74x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Alibaba Group cover its interest payments?
Alibaba Group (BABAF) has an interest coverage ratio of 5.12x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.