Jd.Com Inc Financials
Jd.Com Inc (JD) reported $187.2B in revenue for fiscal year 2025, up 17.9% 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).
Higher sales and slightly better gross margin still failed to reach operating profit, exposing heavy cost absorption.
Between FY2024 and FY2025, revenue added$28.4B and gross profit added$4.8B , yet operating cash flow fell by$5.2B and operating margin dropped from3.3% to0.2% . That combination means the company sold more at slightly better unit economics, but the extra gross profit was absorbed by operating costs and working capital instead of turning into durable cash earnings.
The cash balance increase to
JD returned
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 Jd.Com 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.
Jd.Com Inc has an operating margin of 0.2%, meaning the company retains less than $1 of operating profit per $100 of revenue. This results in a moderate score of 43/100, indicating healthy but not exceptional operating efficiency. This is down from 3.3% the prior year.
Jd.Com Inc's revenue surged 17.9% year-over-year to $187.2B, reflecting rapid business expansion. This strong growth earns a score of 67/100.
Jd.Com Inc has a moderate D/E ratio of 1.78. This balance of debt and equity financing earns a leverage score of 33/100.
Jd.Com Inc's current ratio of 1.22 indicates adequate short-term liquidity, earning a score of 30/100. The company can meet its near-term obligations, though with limited headroom.
Jd.Com Inc has a free cash flow margin of 0.9%, earning a moderate score of 39/100. The company generates positive cash flow after capital investments, but with room for improvement.
Jd.Com Inc's ROE of 10.3% shows moderate profitability relative to equity, earning a score of 48/100. This is down from 18.7% the prior year.
Jd.Com Inc scores 2.60, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Jd.Com 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.
For every $1 of reported earnings, Jd.Com Inc generates $0.82 in operating cash flow ($2.7B OCF vs $3.3B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Jd.Com Inc earns $0.99 in operating income for every $1 of interest expense ($397.0M vs $401.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Jd.Com Inc generated $187.2B in revenue in fiscal year 2025. This represents an increase of 17.9% from the prior year.
Jd.Com Inc's EBITDA was $1.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 72.6% from the prior year.
Jd.Com Inc reported $3.3B in net income in fiscal year 2025. This represents a decrease of 45.9% from the prior year.
Jd.Com Inc earned $0.92 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 50.0% from the prior year.
Cash & Balance Sheet
Jd.Com Inc generated $1.6B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 77.9% from the prior year.
Jd.Com Inc held $19.7B in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Jd.Com Inc's gross margin was 16.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.2 percentage points from the prior year.
Jd.Com Inc's operating margin was 0.2% in fiscal year 2025, reflecting core business profitability. This is down 3.1 percentage points from the prior year.
Jd.Com Inc's net profit margin was 1.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.1 percentage points from the prior year.
Jd.Com Inc's ROE was 10.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 8.4 percentage points from the prior year.
Capital Allocation
Jd.Com Inc invested $3.2B in research and development in fiscal year 2025. This represents an increase of 36.3% from the prior year.
Jd.Com Inc spent $3.1B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 13.7% from the prior year.
Jd.Com Inc invested $1.1B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 52.5% from the prior year.
JD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $187.2B+17.9% | $158.8B+3.9% | $152.8B+0.7% | $151.7B+1.6% | $149.3B+30.6% | $114.3B+37.9% | $82.9B+23.3% | $67.2B+20.7% | $55.7B+48.6% | $37.5B+33.9% | $28.0B+51.0% | $18.5B |
| Cost of Revenue | $157.2B+17.7% | $133.6B+2.5% | $130.3B-0.1% | $130.4B+1.0% | $129.1B+32.3% | $97.6B+37.9% | $70.7B+22.8% | $57.6B+20.3% | $47.9B+50.6% | $31.8B+31.1% | $24.2B+48.0% | $16.4B |
| Gross Profit | $30.0B+19.2% | $25.2B+12.0% | $22.5B+5.5% | $21.3B+5.3% | $20.3B+21.1% | $16.7B+37.9% | $12.1B+26.4% | $9.6B+22.8% | $7.8B+37.5% | $5.7B+51.5% | $3.7B+73.9% | $2.2B |
| R&D Expenses | $3.2B+36.3% | $2.3B+1.0% | $2.3B-5.7% | $2.4B-4.4% | $2.6B+3.6% | $2.5B+17.9% | $2.1B | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $1.7B+40.6% | $1.2B-11.0% | $1.4B-14.7% | $1.6B-11.6% | $1.8B+84.7% | $982.2M+24.6% | $788.6M+5.1% | $750.4M+15.8% | $647.8M-3.6% | $671.7M+51.2% | $444.1M-47.6% | $847.8M |
| Operating Income | $397.0M-92.5% | $5.3B+44.8% | $3.7B+28.1% | $2.9B+340.0% | $650.0M-65.6% | $1.9B+46.4% | $1.3B+439.2% | -$380.9M-196.7% | -$128.4M+58.4% | -$308.9M+69.0% | -$997.2M-6.6% | -$935.2M |
| Interest Expense | $401.0M+1.0% | $397.0M-2.2% | $406.0M+33.1% | $305.0M+60.5% | $190.0M+10.2% | $172.4M+65.6% | $104.1M-16.2% | $124.3M-16.1% | $148.1M+296.1% | $37.4M+193.6% | $12.7M+174.1% | $4.6M |
| Income Tax | $312.0M-66.9% | $943.0M-20.2% | $1.2B+95.4% | $605.0M+104.4% | $296.0M+30.4% | $227.1M-12.3% | $258.9M+317.0% | $62.1M+189.4% | $21.5M-17.0% | $25.9M+1274.1% | -$2.2M-170.7% | $3.1M |
| Net Income | $3.3B-45.9% | $6.1B+86.8% | $3.3B+132.8% | $1.4B+300.7% | -$701.0M-109.3% | $7.6B+342.7% | $1.7B+519.3% | -$407.3M-22541.6% | -$1.8M+99.7% | -$548.3M+62.1% | -$1.4B-79.8% | -$805.3M |
| EPS (Diluted) | $0.92-50.0% | $1.84+72.0% | $1.07+127.7% | $0.47+361.1% | -$0.18-107.4% | $2.43+311.9% | $0.59+553.8% | -$0.13 | -$0.01 | -$0.20+62.3% | -$0.53 | -$0.86 |
JD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $99.4B+3.9% | $95.7B+8.0% | $88.6B+2.6% | $86.3B+10.8% | $77.9B+20.4% | $64.7B+73.5% | $37.3B+22.6% | $30.4B+7.5% | $28.3B+22.5% | $23.1B+75.7% | $13.1B+22.7% | $10.7B |
| Current Assets | $53.5B+1.1% | $53.0B+22.2% | $43.4B-14.8% | $50.9B+8.2% | $47.0B+30.7% | $36.0B+80.1% | $20.0B+31.0% | $15.3B-13.7% | $17.7B+14.8% | $15.4B+70.6% | $9.0B+12.1% | $8.0B |
| Cash & Equivalents | $19.7B+32.4% | $14.8B+46.6% | $10.1B-11.4% | $11.4B+3.0% | $11.1B-15.8% | $13.2B+148.4% | $5.3B+6.6% | $5.0B+26.2% | $3.9B+38.6% | $2.8B+10.7% | $2.6B-1.5% | $2.6B |
| Inventory | $13.6B+11.5% | $12.2B+27.7% | $9.6B-15.2% | $11.3B-4.7% | $11.9B+31.3% | $9.0B+8.5% | $8.3B+29.9% | $6.4B-0.1% | $6.4B+53.9% | $4.2B+31.3% | $3.2B+61.4% | $2.0B |
| Accounts Receivable | $3.9B+11.5% | $3.5B+22.7% | $2.9B-4.2% | $3.0B+59.8% | $1.9B+71.3% | $1.1B+22.6% | $889.2M-45.0% | $1.6B-35.7% | $2.5B0.0% | $2.5B+71.4% | $1.5B+273.8% | $392.7M |
| Goodwill | $3.8B+6.8% | $3.5B+25.2% | $2.8B-16.1% | $3.4B+71.9% | $2.0B+16.7% | $1.7B+75.1% | $954.3M-1.2% | $966.3M-5.5% | $1.0B+8.5% | $942.2M+20907.7% | $4.5M-98.9% | $422.7M |
| Total Liabilities | $57.4B+8.8% | $52.7B+12.6% | $46.8B+0.6% | $46.6B+18.8% | $39.2B+27.4% | $30.8B+34.6% | $22.9B+18.7% | $19.2B-4.9% | $20.2B+17.9% | $17.2B+104.0% | $8.4B+80.0% | $4.7B |
| Current Liabilities | $43.8B+6.7% | $41.0B+9.7% | $37.4B-3.2% | $38.6B+11.1% | $34.8B+30.4% | $26.7B+32.6% | $20.1B+14.4% | $17.6B-3.3% | $18.2B+20.5% | $15.1B+99.3% | $7.6B+62.0% | $4.7B |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $449.2M | N/A | N/A | N/A | N/A |
| Total Equity | $32.2B-1.9% | $32.8B+0.4% | $32.7B+5.6% | $30.9B-5.6% | $32.8B+14.1% | $28.7B+144.5% | $11.8B+35.3% | $8.7B+8.7% | $8.0B+63.9% | $4.9B+3.5% | $4.7B-22.0% | $6.0B |
| Retained Earnings | $12.1B+15.8% | $10.5B+69.1% | $6.2B+46.0% | $4.2B-19.9% | $5.3B-7.5% | $5.7B+435.1% | -$1.7B+51.1% | -$3.5B-2.3% | -$3.4B-8.5% | -$3.1B-9.1% | -$2.9B-93.1% | -$1.5B |
JD 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 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.7B-65.9% | $8.0B-5.1% | $8.4B0.0% | $8.4B+26.3% | $6.6B+1.8% | $6.5B+83.2% | $3.6B+17.2% | $3.0B-20.4% | $3.8B+202.1% | $1.3B+551.5% | -$279.7M-270.9% | $163.6M |
| Capital Expenditures | $1.1B+52.5% | $733.0M+29.3% | $567.0M-28.9% | $797.0M-8.7% | $873.0M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | $1.6B-77.9% | $7.2B-7.5% | $7.8B+3.0% | $7.6B+31.6% | $5.8B | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | $6.0B+5126.9% | -$119.0M+98.6% | -$8.4B-7.1% | -$7.8B+32.8% | -$11.7B-31.5% | -$8.9B-143.3% | -$3.6B+4.0% | -$3.8B+34.2% | -$5.8B | N/A | N/A | N/A |
| Financing Cash Flow | -$3.8B-32.8% | -$2.9B-251.7% | -$818.0M-578.4% | $171.0M-94.4% | $3.1B-71.9% | $10.9B+2847.7% | $369.5M-77.4% | $1.6B-44.8% | $3.0B | N/A | N/A | N/A |
| Dividends Paid | $1.5B+31.1% | $1.1B+19.3% | $949.0M-50.0% | $1.9B | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $3.1B-13.7% | $3.5B+908.5% | $352.0M+33.3% | $264.0M-67.9% | $823.0M+1622.4% | $47.8M+153.9% | $18.8M-37.2% | $29.9M | N/A | $768.9M | N/A | N/A |
JD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.0%+0.2pp | 15.9%+1.2pp | 14.7%+0.7pp | 14.1%+0.5pp | 13.6%-1.1pp | 14.6%0.0pp | 14.6%+0.4pp | 14.3%+0.3pp | 14.0%-1.1pp | 15.2%+1.8pp | 13.4%+1.8pp | 11.6% |
| Operating Margin | 0.2%-3.1pp | 3.3%+0.9pp | 2.4%+0.5pp | 1.9%+1.4pp | 0.4%-1.2pp | 1.7%+0.1pp | 1.6%+2.1pp | -0.6%-0.3pp | -0.2%+0.6pp | -0.8%+2.7pp | -3.6%+1.5pp | -5.1% |
| Net Margin | 1.8%-2.1pp | 3.9%+1.7pp | 2.1%+1.2pp | 0.9%+1.4pp | -0.5%-7.1pp | 6.6%+4.6pp | 2.1%+2.7pp | -0.6%-0.6pp | 0.0%+1.5pp | -1.5%+3.7pp | -5.2%-0.8pp | -4.3% |
| Return on Equity | 10.3%-8.4pp | 18.7%+8.6pp | 10.0%+5.5pp | 4.5%+6.7pp | -2.1%-28.4pp | 26.3%+11.8pp | 14.5%+19.2pp | -4.7%-4.7pp | 0.0%+11.2pp | -11.2%+19.5pp | -30.7%-17.4pp | -13.3% |
| Return on Assets | 3.3%-3.1pp | 6.4%+2.7pp | 3.7%+2.1pp | 1.6%+2.5pp | -0.9%-12.6pp | 11.7%+7.1pp | 4.6%+5.9pp | -1.3%-1.3pp | 0.0%+2.4pp | -2.4%+8.6pp | -11.0%-3.5pp | -7.5% |
| Current Ratio | 1.22-0.1x | 1.29+0.1x | 1.16-0.2x | 1.320.0x | 1.350.0x | 1.35+0.4x | 0.99+0.1x | 0.87-0.1x | 0.970.0x | 1.02-0.2x | 1.19-0.5x | 1.72 |
| Debt-to-Equity | 1.78+0.2x | 1.61+0.2x | 1.43-0.1x | 1.50+0.3x | 1.20+0.1x | 1.07-0.9x | 1.94+1.9x | 0.05-2.5x | 2.53-1.0x | 3.52+1.7x | 1.78+1.0x | 0.77 |
| FCF Margin | 0.9%-3.7pp | 4.5%-0.6pp | 5.1%+0.1pp | 5.0%+1.1pp | 3.9% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Where Jd.Com Inc Ranks
Frequently Asked Questions
What is Jd.Com Inc's annual revenue?
Jd.Com Inc (JD) reported $187.2B in total revenue for fiscal year 2025. This represents a 17.9% 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 Jd.Com Inc's revenue growing?
Jd.Com Inc (JD) revenue grew by 17.9% year-over-year, from $158.8B to $187.2B in fiscal year 2025.
Is Jd.Com Inc profitable?
Yes, Jd.Com Inc (JD) reported a net income of $3.3B in fiscal year 2025, with a net profit margin of 1.8%.
What is Jd.Com Inc's EBITDA?
Jd.Com Inc (JD) had EBITDA of $1.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Jd.Com Inc's gross margin?
Jd.Com Inc (JD) had a gross margin of 16.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Jd.Com Inc's operating margin?
Jd.Com Inc (JD) had an operating margin of 0.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Jd.Com Inc's net profit margin?
Jd.Com Inc (JD) had a net profit margin of 1.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Jd.Com Inc's return on equity (ROE)?
Jd.Com Inc (JD) has a return on equity of 10.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Jd.Com Inc's free cash flow?
Jd.Com Inc (JD) generated $1.6B in free cash flow during fiscal year 2025. This represents a -77.9% 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 Jd.Com Inc's operating cash flow?
Jd.Com Inc (JD) generated $2.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Jd.Com Inc's total assets?
Jd.Com Inc (JD) had $99.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Jd.Com Inc's capital expenditures?
Jd.Com Inc (JD) invested $1.1B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Jd.Com Inc spend on research and development?
Jd.Com Inc (JD) invested $3.2B in research and development during fiscal year 2025.
What is Jd.Com Inc's current ratio?
Jd.Com Inc (JD) had a current ratio of 1.22 as of fiscal year 2025, which is considered adequate.
What is Jd.Com Inc's debt-to-equity ratio?
Jd.Com Inc (JD) had a debt-to-equity ratio of 1.78 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Jd.Com Inc's return on assets (ROA)?
Jd.Com Inc (JD) had a return on assets of 3.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Jd.Com Inc's Altman Z-Score?
Jd.Com Inc (JD) has an Altman Z-Score of 2.60, placing it in the Grey Zone (moderate 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 Jd.Com Inc's Piotroski F-Score?
Jd.Com Inc (JD) 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 Jd.Com Inc's earnings high quality?
Jd.Com Inc (JD) has an earnings quality ratio of 0.82x, 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 Jd.Com Inc cover its interest payments?
Jd.Com Inc (JD) has an interest coverage ratio of 0.99x, 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 Jd.Com Inc?
Jd.Com Inc (JD) scores 43 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.