Baozun Inc. (BZUN) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 23, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BZUN SEC filings page.
Baozun Inc. (BZUN) reported $1.4B in revenue for fiscal year 2025, up 10.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).
Baozun's business regained operating profitability and cash generation in FY2025, but persistent net losses show below-operating costs still absorb earnings.
Cash conversion diverged from reported earnings in FY2025: operating cash flow reached$60.1M and free cash flow$44.9M despite a reported net loss. Compared with FY2024, when free cash flow was-$4.2M , the reversal indicates cash generation improved faster than accounting profitability;$31.7M of depreciation helps explain part of that gap.
Gross margin held at
Assets and liabilities both declined by FY2025, to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Baozun Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Baozun Inc. has an operating margin of 0.6%, meaning the company retains $1 of operating profit per $100 of revenue. This below-average margin results in a low score of 28/100, suggesting thin profitability after operating expenses. This is up from -1.2% the prior year.
Baozun Inc.'s revenue grew 10.2% year-over-year to $1.4B, a solid pace of expansion. This earns a growth score of 57/100.
Baozun Inc. has a moderate D/E ratio of 1.15. This balance of debt and equity financing earns a leverage score of 44/100.
Baozun Inc.'s current ratio of 1.87 indicates adequate short-term liquidity, earning a score of 55/100. The company can meet its near-term obligations, though with limited headroom.
Baozun Inc. has a free cash flow margin of 3.2%, earning a moderate score of 33/100. The company generates positive cash flow after capital investments, but with room for improvement.
Baozun Inc. posts a -6.7% return on equity (ROE), meaning it loses $7 for every $100 of shareholders' equity. This results in a returns score of 27/100. This is down from -4.7% the prior year.
Baozun Inc. scores 1.50, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Baozun Inc. passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Baozun Inc. reported a net loss of $34.6M while generating $60.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Baozun Inc. earns $1.27 in operating income for every $1 of interest expense ($8.1M vs $6.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Baozun Inc. held $129.7M in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
BZUN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
BZUN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q4'2410-K | Q4'2310-K | Q4'2210-K | Q4'2110-K | Q4'2010-K | Q4'1910-K | Q4'1810-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.4B-0.9% | $1.4B-5.2% | $1.5B+0.5% | $1.5B-24.1% | $1.9B+20.4% | $1.6B+57.5% | $1.0B+74.5% | $584.1M+27.7% |
| Current Assets | $972.8M-1.6% | $988.3M-3.8% | $1.0B-4.3% | $1.1B-25.7% | $1.4B+2.9% | $1.4B+71.7% | $817.4M+72.8% | $473.0M+24.9% |
| Cash & Equivalents | $129.7M-26.5% | $176.6M-41.7% | $302.8M-2.6% | $310.9M-57.0% | $722.9M+31.8% | $548.6M+233.7% | $164.4M+147.1% | $66.5M+76.8% |
| Short-Term Investments | $249.8M+43.4% | $174.2M+71.7% | $101.5M-21.8% | $129.8M | $0-100.0% | $222.0M+83.1% | $121.2M+1374.4% | $8.2M-82.9% |
| Inventory | $125.8M-17.9% | $153.1M+4.0% | $147.2M+7.7% | $136.7M-18.8% | $168.5M+7.1% | $157.2M+22.1% | $128.8M+36.2% | $94.6M+60.0% |
| Accounts Receivable | $310.8M+11.5% | $278.6M-9.5% | $307.7M-7.4% | $332.4M-6.3% | $354.8M+5.8% | $335.5M+29.7% | $258.7M+14.9% | $225.1M+35.3% |
| Long-Term Investments | $0-100.0% | $46.8M | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $39.2M-21.0% | $49.6M+12.8% | $44.0M-9.7% | $48.8M-21.9% | $62.4M+2901.9% | $2.1M+6.7% | $1.9M+1.9% | $1.9M-5.3% |
| Total Liabilities | $600.5M-1.0% | $606.4M-6.9% | $651.1M+1.0% | $644.6M-29.6% | $916.1M+38.0% | $663.9M+2.8% | $645.9M+143.9% | $264.8M+49.9% |
| Current Liabilities | $521.3M+1.5% | $513.4M-3.0% | $529.3M-0.8% | $533.8M-28.8% | $749.6M+122.7% | $336.6M+0.8% | $333.8M+31.2% | $254.3M+44.4% |
| Non-Current Liabilities | $79.3M-14.8% | $93.0M-23.6% | $121.8M+9.9% | $110.8M-33.4% | $166.5M-49.1% | $327.3M+4.9% | $312.1M+2877.2% | $10.5M+1739.1% |
| Long-Term Debt | N/A | N/A | N/A | N/A | $0-100.0% | $270.2M+1.1% | $267.2M+2571.6% | $10.0M |
| Total Equity | $520.9M-2.9% | $536.2M-7.1% | $577.1M-2.5% | $592.2M-22.9% | $768.3M-18.0% | $936.6M+153.8% | $369.0M+16.5% | $316.7M+13.9% |
| Retained Earnings | -$133.5M-40.9% | -$94.8M-32.8% | -$71.3M-115.7% | -$33.1M-149.6% | $66.7M-54.3% | $145.9M+93.1% | $75.6M+112.3% | $35.6M+1026.6% |
BZUN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
BZUN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Baozun Inc. BZUN | FY2025 | $1.4B | -$34.6M | -2.4% | $201.8M | 41/100 |
| Hour Loop, Inc. HOUR | FY2025 | $142.4M | $1.7M | 1.2% | $59.1M | 38/100 |
| 1stdibs.com, Inc. DIBS | FY2025 | $89.6M | -$13.7M | -15.3% | $123.4M | 73/100 |
| Oriental Culture Holding LTD OCG | FY2025 | $1.9M | -$3.9M | N/A | $3.2M | 41/100 |
| Natural Health Trends Corp. NHTC | FY2025 | $39.8M | -$882K | -2.2% | $8.4M | 34/100 |
Where Baozun Inc. Ranks
Frequently Asked Questions
What is Baozun Inc.'s annual revenue?
Baozun Inc. (BZUN) reported $1.4B in total revenue for fiscal year 2025. This represents a 10.2% 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 Baozun Inc.'s revenue growing?
Baozun Inc. (BZUN) revenue grew by 10.2% year-over-year, from $1.3B to $1.4B in fiscal year 2025.
Is Baozun Inc. profitable?
No, Baozun Inc. (BZUN) reported a net income of -$34.6M in fiscal year 2025, with a net profit margin of -2.4%.
What is Baozun Inc.'s EBITDA?
Baozun Inc. (BZUN) had EBITDA of $39.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Baozun Inc.'s gross margin?
Baozun Inc. (BZUN) had a gross margin of 74.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Baozun Inc.'s operating margin?
Baozun Inc. (BZUN) had an operating margin of 0.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Baozun Inc.'s net profit margin?
Baozun Inc. (BZUN) had a net profit margin of -2.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Baozun Inc.'s return on equity (ROE)?
Baozun Inc. (BZUN) has a return on equity of -6.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Baozun Inc.'s free cash flow?
Baozun Inc. (BZUN) generated $44.9M in free cash flow during fiscal year 2025. This represents a 1162.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Baozun Inc.'s operating cash flow?
Baozun Inc. (BZUN) generated $60.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Baozun Inc.'s total assets?
Baozun Inc. (BZUN) had $1.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Baozun Inc.'s capital expenditures?
Baozun Inc. (BZUN) invested $15.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Baozun Inc.'s current ratio?
Baozun Inc. (BZUN) had a current ratio of 1.87 as of fiscal year 2025, which is generally considered healthy.
What is Baozun Inc.'s debt-to-equity ratio?
Baozun Inc. (BZUN) had a debt-to-equity ratio of 1.15 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Baozun Inc.'s return on assets (ROA)?
Baozun Inc. (BZUN) had a return on assets of -2.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Baozun Inc.'s P/E ratio?
Baozun Inc. (BZUN) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $201.8M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Baozun Inc.'s price-to-sales ratio?
Baozun Inc. (BZUN) trades at 0.1x sales, its market capitalization divided by revenue of $1.4B revenue, FY2025. The market capitalization is $201.8M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Baozun Inc.'s Altman Z-Score?
Baozun Inc. (BZUN) has an Altman Z-Score of 1.50, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Baozun Inc.'s Piotroski F-Score?
Baozun Inc. (BZUN) has a Piotroski F-Score of 4 out of 7 computable signals; 2 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 Baozun Inc.'s earnings high quality?
Baozun Inc. (BZUN) reported a net loss of $34.6M while generating $60.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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 Baozun Inc. cover its interest payments?
Baozun Inc. (BZUN) has an interest coverage ratio of 1.27x, meaning it can struggle to 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.
How financially healthy is Baozun Inc.?
Baozun Inc. (BZUN) scores 41 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.