Revenue
5Y CAGR +11.0%10Y CAGR +20.3%$182.2B FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
JD
$29.11+1.64%
as of close, Nov 6, 2026
☾ AH $29.11 +1.64%
JD.com Inc. American Depositary SharesStock · Consumer DiscretionaryEmerging Markets · 0.3% of VWOMSCI ACWI · 0.04% of ACWINasdaq Composite · 0.03% of ONEQ
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JD.com ADR revenue, profit and debt trends
JD.com ADR’s SEC filings as charts: revenue and profit, valuation, how it makes money, cash and debt.
Growth and profit#
As a table →Gross profit
5Y CAGR +13.1%10Y CAGR +23.6%$29.2B FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Operating income
5Y CAGR −26.4%10Y n/m$386M FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Net income
5Y CAGR −17.5%10Y n/m$2.7B FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
EPS (diluted)
5Y CAGR −17.1%10Y n/m$1.80 FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Margins
Gross 16.0%Operating 0.2%Net 1.5%FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
R&D and SG&A, share of revenue
R&D 1.7%SG&A 7.3%FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Valuation#
As a table →Market cap
5Y CAGR −22.0%10Y CAGR −1.1%YoY −21.8%$39.4B FY25$39.4B Q4 '25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Q4 '14Q4 '15Q4 '16Q4 '17Q4 '18Q4 '19Q4 '20Q4 '21Q4 '22Q4 '23Q4 '24Q4 '25
P/E ratio
14.4× FY2514.4× Q4 '25
FY19FY20FY21FY22FY23FY24FY25
Q4 '19Q4 '20Q4 '21Q4 '22Q4 '23Q4 '24Q4 '25
P/S ratio
0.2× FY250.2× Q4 '25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Q4 '14Q4 '15Q4 '16Q4 '17Q4 '18Q4 '19Q4 '20Q4 '21Q4 '22Q4 '23Q4 '24Q4 '25
P/B ratio
1.2× FY251.2× Q4 '25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Q4 '14Q4 '15Q4 '16Q4 '17Q4 '18Q4 '19Q4 '20Q4 '21Q4 '22Q4 '23Q4 '24Q4 '25
P/FCF ratio
25.4× FY2525.4× Q4 '25
FY17FY18FY19FY20FY21FY22FY23FY24FY25
Q4 '17Q4 '18Q4 '19Q4 '20Q4 '21Q4 '22Q4 '23Q4 '24Q4 '25
Earnings yield
6.9% FY256.9% Q4 '25
FY19FY20FY21FY22FY23FY24FY25
Q4 '19Q4 '20Q4 '21Q4 '22Q4 '23Q4 '24Q4 '25
FCF yield
3.9% FY253.9% Q4 '25
FY17FY18FY19FY20FY21FY22FY23FY24FY25
Q4 '17Q4 '18Q4 '19Q4 '20Q4 '21Q4 '22Q4 '23Q4 '24Q4 '25
Dividend yield
3.4% FY253.4% Q4 '25
FY22FY23FY24FY25
Q4 '22Q4 '23Q4 '24Q4 '25
How it makes money#
Period
FY2025
How does JD.com ADR make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.
JD.com Inc. American Depositary Shares · FY2025 · year ended 2025-12-31
revenue$152.9B · 84%Operating
expenses$28.8B · 16%Selling & marketing$11.7B · 6%Pre-tax income$2.7B · 1%Other income$2.6B · 1%Net income$2.7B · 1%
- Operating income $0 · 0%
- R&D $3.1B · 2%
- SG&A $13.4B · 7%
- Income tax $0 · 0%
- Income tax $0 · 0%
Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.
Cash#
As a table →Operating cash flow
5Y CAGR −15.6%10Y CAGR +25.6%$2.6B FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Capital expenditure
5Y CAGR +17.4%10Y CAGR +5.3%$1.1B FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Free cash flow
5Y CAGR −22.8%10Y n/m$1.6B FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Dividends and buybacks
5Y CAGR +150.1%10Y n/m$4.4B FY25DividendsBuybacks
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Stock-based compensation
5Y CAGR +1.8%10Y CAGR +14.4%$657.7M FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Shares (diluted)
5Y −4.2%10Y +8.9%1.5B FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
Dividend per share
$0.97 FY25
FY22FY23FY24FY25
No quarters filed for this figure.
Where the cash goes#
Period
FY2025
Where does JD.com ADR's cash go? This Sankey traces cash from net income through operating cash flow into capex, free cash flow, dividends, buybacks, and debt paydown. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.
JD.com Inc. American Depositary Shares · FY2025 · year ended 2025-12-31
cash flow$2.6BCash from
operations$4.7B · 180%Net income$2.7B · 103%D&A$1.4B · 51%Stock comp$658M · 25%Working
capital$2.1B · 80%Capex$1.1B · 41%Free cash
flow$1.6B · 59%Dividends$1.4B · 55%Buybacks$3.0B · 113%Cash
reserves$2.9B · 109%
Each fiscal year from SEC filings. Percentages are share of operating cash flow. Sources (net income + non-cash add-backs) flow into operating cash flow, which splits into capex and free cash flow; free cash flow goes to dividends, buybacks, debt paydown, and what's retained. Annual only. For informational purposes only.
Debt and balance sheet#
As a table →Debt and cash
Debt $10.6BCash $30.5BFY25Debt $10.6BCash $30.5BQ4 '25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Q4 '12Q4 '13Q4 '14Q4 '15Q4 '16Q4 '17Q4 '18Q4 '19Q4 '20Q4 '21Q4 '22Q4 '23Q4 '24Q4 '25
Net debt
−$19.9B FY25−$19.9B Q4 '25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Q4 '13Q4 '14Q4 '15Q4 '16Q4 '17Q4 '18Q4 '19Q4 '20Q4 '21Q4 '22Q4 '23Q4 '24Q4 '25
Working capital
$9.8B FY25$9.8B Q4 '25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Q4 '13Q4 '14Q4 '15Q4 '16Q4 '17Q4 '18Q4 '19Q4 '20Q4 '21Q4 '22Q4 '23Q4 '24Q4 '25
Current ratio
1.2× FY251.2× Q4 '25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Q4 '13Q4 '14Q4 '15Q4 '16Q4 '17Q4 '18Q4 '19Q4 '20Q4 '21Q4 '22Q4 '23Q4 '24Q4 '25
Interest cover
1.0× FY25
FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
No quarters filed for this figure.
About these charts
Source: JD’s SEC filings (10-K and 10-Q), the same figures as its financial statements. Fiscal years are as reported; a fourth quarter is the year less its first three where the company files none of its own; TTM is the trailing twelve months. A balance or a valuation beside the fiscal years is the newest quarter’s. Valuation is at each period’s end, at that day’s close. Debt is short- and long-term borrowings as filed, leases apart; cash includes short-term investments. Interest cover is operating income over interest expense. Revenue by segment, product and region is each 10-K’s own table, named as the filing names its rows, and only where the rows add up to the revenue the filing reports. The backlog is the remaining performance obligation the filings state: revenue under contract and not yet earned. Debt due by year is the newest 10-K’s schedule of long-term debt principal. Not investment advice.
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