JD
JD.com Inc. American Depositary SharesStock · Consumer Discretionary$26.92+1.05%
as of market close, Sep 18, 2026
☾ AH — —
JD financial statements
The full income statement, balance sheet, and cash-flow statement for JD.com Inc. American Depositary Shares (JD), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2017-12 1.46B2018-12 1.44B2019-12 1.48B2020-12 1.56B2021-12 1.56B2022-12 1.57B2023-12 1.57B2024-12 1.45B2025-12 1.37B-5.6% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 187B+17.9% | 159B+3.9% | 153B+0.7% | 152B+1.6% | 149B+30.6% | |
| Cost of revenue | 157B+17.7% | 134B+2.5% | 130B-0.1% | 130B+1.0% | 129B+32.3% | |
| Research & development | 3.18B+36.3% | 2.33B+1.0% | 2.31B-5.7% | 2.45B-4.4% | 2.56B+3.6% | |
| Selling, general & administrative | 1.71B+40.6% | 1.22B-11.0% | 1.37B-14.7% | 1.60B-11.6% | 1.81B+84.7% | |
| General & administrative | 1.71B+40.6% | 1.22B-11.0% | 1.37B-14.7% | 1.60B-11.6% | 1.81B+84.7% | |
| Selling & marketing | 12.0B+82.7% | 6.57B+16.2% | 5.65B+3.2% | 5.48B-9.9% | 6.08B+46.1% | |
| Amortization of intangibles | 152M+10.5% | 137M-25.6% | 184M-0.6% | 185M+25.1% | 148M+27.5% | |
| Provision for credit losses | -103M-96.8% | -52.3M+31.8% | -76.6M+16.2% | -91.4M-10.1% | -82.9M-72.9% | |
| Operating income | 397M-92.5% | 5.31B+44.8% | 3.67B+28.1% | 2.86B+340.0% | 650M-65.6% | |
| Interest expense | 401M+1.0% | 397M-2.2% | 406M+33.1% | 305M+60.5% | 190M+10.2% | |
| Interest & investment income | 1.26B-3.0% | 1.30B-3.9% | 1.35B+58.6% | 853M+30.6% | 653M+54.8% | |
| Other non-operating income | 2.48B+35.3% | 1.83B+73.5% | 1.06B+569.3% | -225M-141.9% | -93.0M-101.9% | |
| Equity-method income | 1.15B+259.6% | 319M+124.6% | 142M+144.7% | -318M+58.8% | -772M-217.4% | |
| Pre-tax income | 3.62B-48.7% | 7.06B+58.4% | 4.46B+121.5% | 2.01B+596.8% | -405M-105.2% | |
| Income tax | 312M-66.9% | 943M-20.2% | 1.18B+95.4% | 605M+104.4% | 296M+30.4% | |
| 2.81B-50.5% | 5.67B+66.5% | 3.40B+125.8% | 1.51B+369.6% | -559M-107.4% | ||
| Net income to non-controlling interest | 502M+11.1% | 452M+453.1% | -128M-26.7% | -101M+30.3% | -145M-1167.9% | |
| Net income to common | 2.81B-50.5% | 5.67B+66.5% | 3.40B+125.8% | 1.51B+369.6% | -559M-107.4% | |
| $1.84-50.0% | $3.68+72.0% | $2.14+127.7% | $0.94+361.1% | -$0.36-107.4% | ||
| EPS (basic) | $1.98-47.9% | $3.80+75.9% | $2.16+125.0% | $0.96+366.7% | -$0.36-107.2% | |
| Weighted-avg shares (basic) | 1.42B-4.8% | 1.49B-4.9% | 1.57B+0.6% | 1.56B+0.6% | 1.55B+2.8% | |
| Weighted-avg shares (diluted) | 1.49B-3.2% | 1.54B-3.0% | 1.59B-0.3% | 1.59B+2.4% | 1.55B-0.1% | |
| Dividends per share | $1.00+35.4% | $0.74+22.9% | $0.60-49.8% | $1.19 | — | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 53.5B+1.1% | 53.0B+22.2% | 43.4B-14.8% | 50.9B+8.2% | 47.0B+30.7% | ||
| Cash & equivalents | 19.7B+32.4% | 14.8B+46.6% | 10.1B-11.4% | 11.4B+3.0% | 11.1B-15.8% | |
| Short-term investments | 10.8B-37.1% | 17.2B+3.3% | 16.7B-18.6% | 20.5B+13.8% | 18.0B+93.6% | |
| Accounts receivable | 3.91B+11.5% | 3.51B+22.7% | 2.86B-4.2% | 2.98B+59.8% | 1.87B+71.3% | |
| Inventory | 13.6B+11.5% | 12.2B+27.7% | 9.59B-15.2% | 11.3B-4.7% | 11.9B+31.3% | |
| Prepaid expenses | 2.56B+17.1% | 2.19B-0.8% | 2.20B+0.2% | 2.20B+22.3% | 1.80B+83.4% | |
| 99.4B+3.9% | 95.7B+8.0% | 88.6B+2.6% | 86.3B+10.8% | 77.9B+20.4% | ||
| Property, plant & equipment | 13.1B+15.2% | 11.3B+14.9% | 9.86B+23.5% | 7.99B+54.5% | 5.17B+49.3% | |
| Operating lease right-of-use | 4.45B+32.4% | 3.36B+14.4% | 2.94B-9.0% | 3.23B+2.9% | 3.14B+32.2% | |
| Goodwill | 3.76B+6.8% | 3.52B+25.2% | 2.81B-16.1% | 3.35B+71.9% | 1.95B+16.7% | |
| Intangible assets | 1.10B+3.4% | 1.07B+9.3% | 977M-26.3% | 1.32B+44.7% | 916M-7.5% | |
| Long-term investments | 7.41B-8.9% | 8.13B-28.6% | 11.4B+576.5% | 1.68B-43.8% | 3.00B-50.0% | |
| Deferred tax assets | 749M+122.3% | 337M+37.0% | 246M+10.3% | 223M+28.2% | 174M+113.1% | |
| Other non-current assets | 1.70B+36.1% | 1.25B-39.1% | 2.04B-24.9% | 2.72B-20.5% | 3.42B+67.7% | |
| Total non-current assets | 45.9B+7.5% | 42.7B-5.6% | 45.2B+27.8% | 35.4B+14.6% | 30.9B+7.5% | |
| 43.8B+6.7% | 41.0B+9.7% | 37.4B-3.2% | 38.6B+11.1% | 34.8B+30.4% | ||
| Accounts payable | 26.9B+2.0% | 26.4B+12.9% | 23.4B+0.5% | 23.3B+5.6% | 22.0B+34.7% | |
| Deferred revenue | 384M+33.8% | 287M-2.7% | 295M-39.3% | 486M-10.5% | 543M+3.7% | |
| Short-term & current debt | 457M-9.3% | 504M-28.9% | 709M-59.7% | 1.76B+157.1% | 685M+37.1% | |
| Current lease liability | 1.34B+29.0% | 1.04B-4.6% | 1.09B-2.1% | 1.11B+6.6% | 1.05B+23.8% | |
| 57.4B+8.8% | 52.7B+12.6% | 46.8B+0.6% | 46.6B+18.8% | 39.2B+27.4% | ||
| Long-term debt | 5.96B+37.1% | 4.34B | — | — | 1.49B-25.1% | |
| Deferred revenue (non-current) | — | 69.0M-49.3% | 136M-15.0% | 160M-21.6% | 204M-17.7% | |
| Non-current lease liability | 3.39B+36.6% | 2.48B+28.8% | 1.93B-11.3% | 2.17B+0.9% | 2.15B+37.1% | |
| Operating lease liability (total) | 4.73B+34.3% | 3.52B+16.7% | 3.02B-8.1% | 3.29B+2.7% | 3.20B+32.4% | |
| Deferred tax liabilities | 1.15B-11.8% | 1.30B-0.3% | 1.30B+38.2% | 944M+216.8% | 298M+1.2% | |
| Other non-current liabilities | 164M+43.9% | 114M-24.0% | 150M-40.2% | 251M-10.4% | 280M+450.9% | |
| Total non-current liabilities | 13.6B+16.5% | 11.7B+24.1% | 9.43B+19.2% | 7.91B+79.4% | 4.41B+7.9% | |
| 32.2B-1.9% | 32.8B+0.4% | 32.7B+5.6% | 30.9B-5.6% | 32.8B+14.1% | ||
| Common stock | 0.00 | 0.00 | 0.00 | — | — | |
| Additional paid-in capital | 20.2B-19.0% | 25.0B-3.7% | 25.9B-2.8% | 26.7B-6.9% | 28.6B+21.9% | |
| Retained earnings | 12.1B+15.8% | 10.5B+69.1% | 6.21B+46.0% | 4.25B-19.9% | 5.30B-7.5% | |
| Treasury stock | 1.13B-70.4% | 3.80B+691.7% | 480M+33.0% | 361M-22.5% | 466M+149.6% | |
| Accumulated other comprehensive income | -168M-186.2% | 195M+53.5% | 127M+191.4% | -139M+85.5% | -956M-75.8% | |
| Non-controlling interest | 9.83B-2.3% | 10.1B+11.8% | 9.00B+3.2% | 8.72B+51.6% | 5.75B+121.6% | |
| Total equity incl. non-controlling | 42.0B-2.0% | 42.9B+2.9% | 41.7B+5.0% | 39.7B+2.9% | 38.5B+23.0% | |
| Total liabilities & equity | 99.4B+3.9% | 95.7B+8.0% | 88.6B+2.6% | 86.3B+10.8% | 77.9B+20.4% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 2.72B-65.9% | 7.96B-5.1% | 8.38B+0.0% | 8.38B+26.3% | 6.64B+1.8% | ||
| Depreciation & amortization | 1.39B+14.3% | 1.22B+4.5% | 1.17B+11.3% | 1.05B+7.3% | 978M+5.2% | |
| Intangible amortization | 152M+10.5% | 137M-25.6% | 184M-0.6% | 185M+25.1% | 148M+27.5% | |
| Share-based compensation | 676M+64.5% | 411M-39.3% | 677M-38.2% | 1.09B-23.6% | 1.43B+125.0% | |
| Deferred income taxes | -678M-331.8% | -157M-228.7% | 122M+252.5% | -80.0M+21.6% | -102M+7.4% | |
| Change in receivables | 361M-42.1% | 623M+1315.9% | 44.0M-95.8% | 1.04B+18.0% | 884M+1299.6% | |
| Change in inventory | 827M-70.0% | 2.76B+298.2% | -1.39B-522.1% | 330M-87.4% | 2.62B+2238.7% | |
| Change in payables | -702M-118.4% | 3.81B+486.9% | 650M-74.6% | 2.56B-49.9% | 5.11B+200.7% | |
| 5.98B+5126.9% | -119M+98.6% | -8.39B-7.1% | -7.83B+32.8% | -11.7B-31.5% | ||
| Capital expenditure | 1.12B+52.5% | 733M+29.3% | 567M-28.9% | 797M-8.7% | 873M+78.8% | |
| Free cash flow | 1.60B-77.9% | 7.23B-7.5% | 7.82B+3.0% | 7.59B+31.6% | 5.76B+83.0% | |
| Acquisitions | 158M-58.4% | 380M | 0.00-100.0% | 2.27B+4448.0% | 50.0M+148.6% | |
| Other investing activities | 166M+13.7% | 146M+50.5% | 97.0M+870.0% | 10.0M+104.0% | -251M-365.2% | |
| -3.82B-32.8% | -2.88B-251.7% | -818M-578.4% | 171M-94.4% | 3.06B-71.9% | ||
| Long-term debt issued | 0.00-100.0% | 1.92B+3.5% | 1.85B-9.3% | 2.04B | 0.00-100.0% | |
| Long-term debt repaid | 0.00 | 0.00-100.0% | 1.58B+199.2% | 527M+10440.0% | 5.00M-73.5% | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00-100.0% | |
| Common stock repurchased | 3.06B-13.7% | 3.55B+908.5% | 352M+33.3% | 264M-67.9% | 823M+1622.4% | |
| Dividends paid | 1.48B+31.1% | 1.13B+19.3% | 949M-50.0% | 1.90B | 0.00 | |
| Other financing activities | -100M-72.4% | -58.0M+46.3% | -108M-260.0% | -30.0M-1400.0% | -2.00M-65.2% | |
| Net change in cash | 4.85B-2.6% | 4.98B+718.9% | -804M-165.5% | 1.23B+156.1% | -2.19B-128.1% | |
| Interest paid | 384M+1.1% | 380M-3.8% | 395M+13.8% | 347M+80.7% | 192M+22.8% | |
| Income taxes paid | 1.24B+3.1% | 1.21B+57.0% | 769M+107.8% | 370M-7.0% | 398M+118.2% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 39.4B-21.8% | 50.4B+11.1% | 45.4B-48.1% | 87.5B-19.9% | 109B-20.1% | |
| P/E | 14.0×+57.8% | 8.9×-70.4% | 30.1× | — | — | |
| P/S | 0.2×-33.7% | 0.3×+6.2% | 0.3×-48.9% | 0.6×-19.9% | 0.7×-38.9% | |
| P/B | 1.2×-20.3% | 1.5×+4.8% | 1.5×-45.0% | 2.7×-19.9% | 3.3×-30.0% | |
| P/FCF | 24.7×+253.5% | 7.0×+16.6% | 6.0×-60.6% | 15.2×-19.9% | 19.0×-56.4% | |
| Earnings yield | 7.1%-36.6% | 11.2%+238.4% | 3.3% | — | — | |
| FCF yield | 4.1%-71.7% | 14.3%-14.3% | 16.7%+153.7% | 6.6%+24.8% | 5.3%+129.2% | |
| Dividend yield | 3.5%+63.6% | 2.1%+2.5% | 2.1%-2.5% | 2.1% | — | |
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F |
About this data
Source: JD’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all JD filings on SEC EDGAR → Not investment advice.