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JD.COM INC (JDCMF) Financials

JDCMF
FY2025 annual
Revenue $187.2B +17.9% YoY
Net Income $3.3B -45.9% YoY
EPS (Diluted) $0.92 -50.0% YoY
Free Cash Flow $1.6B -77.9% YoY
Market Cap $38.9B as of Sep 16, 2026
Price / Sales 0.2x on $187.2B revenue, FY2025
Price / Earnings 11.8x on $3.3B net income, FY2025
Price / Book 1.2x on $32.2B equity, Q4 FY2025

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 Sep 16, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Currency USD FYE December

Newest figures come from the 10-K for FY2025, filed Apr 16, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the JDCMF SEC filings page.

JD.COM INC (JDCMF) 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).

Rhea AI JDCMF FY2025

JD.com’s dominant mechanic is revenue expansion paired with sharply weaker operating conversion as investment and balance-sheet funding rise.

Revenue expanded 17.9% while gross margin held essentially flat, but operating margin dropped to 0.2%. That points to below-gross-profit spending as the key 2025 drag: SG&A plus R&D climbed to $4.9B, while operating cash flow fell to $2.7B.

Net income fell to $3.3B from $6.1B despite continued revenue expansion. Free cash flow contracted to $1.6B, showing that the lower accounting profit was accompanied by weaker cash conversion.

Liabilities rose to $57.4B as debt-to-equity reached 1.8x, indicating greater creditor financing relative to equity. The current ratio eased to 1.2x, so short-term liquidity became less cushioned even as total assets grew.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

JD.COM INC 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.

Altman Z-Score Grey Zone
2.59

JD.COM INC scores 2.59, 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.

Piotroski F-Score Partial
4/7

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.

Earnings Quality Mixed
0.82x

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.

Interest Coverage At Risk
0.99x

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

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt
$19.7B
YoY+32.4%
QoQ+32.4%

JD.COM INC held $19.7B in cash as of Q4 2025; long-term debt is not reported for that period.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Shares Outstanding

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.

JDCMF 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.

JDCMF quarterly income statement
MetricQ4'2510-KQ4'2410-KQ4'2310-KQ4'2210-KQ4'2110-KQ4'2010-KQ4'1910-KQ3'1910-Q
EPS (Basic)N/AN/AN/AN/AN/AN/A$0.19N/A
EPS (Diluted)N/AN/AN/AN/AN/AN/A$0.19N/A

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, Diluted Shares (Avg).

JDCMF 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.

JDCMF quarterly balance sheet
MetricQ4'2510-KQ4'2410-KQ4'2310-KQ4'2210-KQ4'2110-KQ4'2010-KQ4'1910-KQ3'1910-Q
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%$34.4B
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%$18.1B
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%$4.5B
Short-Term Investments$10.8B-37.1%$17.2B+3.3%$16.7B-18.6%$20.5B+13.8%$18.0B+93.6%$9.3B+162.7%$3.5B+1093.7%$3.4B
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%$6.8B
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%$841.4M
Long-Term Investments$7.4B-8.9%$8.1B-28.6%$11.4B+576.5%$1.7B-43.8%$3.0B-50.0%$6.0B+94.7%$3.1B$2.2B
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%$929.5M
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%$21.3B
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%$18.6B
Non-Current Liabilities$13.6B+16.5%$11.7B+24.1%$9.4B+19.2%$7.9B+79.4%$4.4B+7.9%$4.1B+49.0%$2.7B+64.2%$2.7B
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%$10.6B
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%-$2.2B

Not reported in any period shown, so not listed: Long-Term Debt.

JDCMF 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.

JDCMF quarterly cash flow statement
MetricQ4'2510-KQ4'2410-KQ4'2310-KQ4'2210-KQ4'2110-KQ4'2010-KQ4'1910-KQ3'1910-Q
Operating Cash FlowN/AN/AN/AN/AN/AN/A$93.1MN/A
Depreciation & AmortizationN/AN/AN/AN/AN/AN/A$218.9MN/A
Investing Cash FlowN/AN/AN/AN/AN/AN/A$248.4MN/A
Financing Cash FlowN/AN/AN/AN/AN/AN/A$441.6MN/A
Share BuybacksN/AN/AN/AN/AN/AN/A$489KN/A

Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid.

JDCMF 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.

JDCMF quarterly financial ratios
MetricQ4'2510-KQ4'2410-KQ4'2310-KQ4'2210-KQ4'2110-KQ4'2010-KQ4'1910-KQ3'1910-Q
Current Ratio1.22-0.1x1.29+0.1x1.16-0.2x1.320.0x1.350.0x1.35+0.4x0.99+0.1x0.98
Debt-to-Equity1.78+0.2x1.61+0.2x1.43-0.1x1.50+0.3x1.20+0.1x1.07-0.9x1.94+1.9x2.00

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.

Frequently Asked Questions

What is JD.COM INC's annual revenue?

JD.COM INC (JDCMF) 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 (JDCMF) 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 (JDCMF) reported a net income of $3.3B in fiscal year 2025, with a net profit margin of 1.8%.

JD.COM INC (JDCMF) reported diluted earnings per share of $0.92 for fiscal year 2025. This represents a -50.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

JD.COM INC (JDCMF) had EBITDA of $1.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

JD.COM INC (JDCMF) had a gross margin of 16.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

JD.COM INC (JDCMF) had an operating margin of 0.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

JD.COM INC (JDCMF) had a net profit margin of 1.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

JD.COM INC (JDCMF) has a return on equity of 10.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

JD.COM INC (JDCMF) 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.

JD.COM INC (JDCMF) generated $2.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

JD.COM INC (JDCMF) had $99.4B in total assets as of fiscal year 2025, including both current and long-term assets.

JD.COM INC (JDCMF) invested $1.1B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

JD.COM INC (JDCMF) invested $3.2B in research and development during fiscal year 2025.

Yes, JD.COM INC (JDCMF) spent $3.1B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

JD.COM INC (JDCMF) had a current ratio of 1.22 as of fiscal year 2025, which is considered adequate.

JD.COM INC (JDCMF) 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.

JD.COM INC (JDCMF) had a return on assets of 3.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

JD.COM INC (JDCMF) trades at 11.8x earnings, its market capitalization divided by net income of $3.3B net income, FY2025. The market capitalization is $38.9B as of Sep 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

JD.COM INC (JDCMF) trades at 0.2x sales, its market capitalization divided by revenue of $187.2B revenue, FY2025. The market capitalization is $38.9B as of Sep 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

JD.COM INC (JDCMF) has an Altman Z-Score of 2.59, 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.

JD.COM INC (JDCMF) 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.

JD.COM INC (JDCMF) 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.

JD.COM INC (JDCMF) 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.

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