JD.com, Inc. (JD) Financial Statements

Executive TeamFinancials
Shareholders

JD.com financial statements at a glance

JD.com reported revenue of 1.31 trillion CNY for fiscal year 2025 (ended December 31, 2025), up 13.0% from fiscal year 2024. Net income was 19.63 billion CNY, a net margin of 1.5%.

At the end of fiscal year 2025 it had total assets of 695.20 billion CNY, total liabilities of 401.42 billion CNY and shareholders' equity of 225.04 billion CNY, with cash and short-term investments of 213.23 billion CNY and total debt of 107.11 billion CNY.

Its operations brought in 18.99 billion CNY of cash; capital spending was 14.18 billion CNY, leaving free cash flow of 4.81 billion CNY.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in CNY; latest fiscal year ended December 31, 2025.

JD logo

JD.com, Inc.

JDChina
Discretionary Consumer Products
CNY (Local)

Income Statement

Annual • CNY

Total Revenue
1.31T
Prev Year: 1.16T
YoY: +13.0%
Operating Revenue
1.31T
Prev Year: 1.16T
YoY: +13.0%
Tax Rate for Calcs
0.086
Prev Year: 0
Tax Effect of Unusual Items
-84.58M
Prev Year: -297.52M
YoY: +71.6%
Average Dilution Earnings
-421.00M
Prev Year: -50.00M
YoY: -742.0%
Noncontrolling Interests
-3.51B
Prev Year: -3.30B
YoY: -6.4%
Special Income Charges
-2.08B
Prev Year: -5.01B
YoY: +58.6%
Write-offs
827.00M
Prev Year: 3.30B
YoY: -74.9%
Impairment of Capital Assets
1.30B
Prev Year: 2.36B
YoY: -44.8%
Restructuring and Mergers Acquisition
-55.00M
Prev Year: -652.00M
YoY: +91.6%
Equity in Earnings of Affiliates
8.03B
Prev Year: 2.33B
YoY: +244.9%
Research and Development
22.23B
Prev Year: 17.03B
YoY: +30.5%
Cost of Revenue
1.10T
Prev Year: 974.95B
YoY: +12.7%
Gross Profit
210.03B
Prev Year: 183.87B
YoY: +14.2%
Operating Expense
206.34B
Prev Year: 144.30B
YoY: +43.0%
Selling General and Administrative
95.93B
Prev Year: 56.84B
YoY: +68.8%
General and Administrative Expense
11.98B
Prev Year: 8.89B
YoY: +34.8%
Other General and Administrative
11.98B
Prev Year: 8.89B
YoY: +34.8%
Selling and Marketing Expense
83.95B
Prev Year: 47.95B
YoY: +75.1%
Other Operating Expenses
88.18B
Prev Year: 70.43B
YoY: +25.2%
Operating Income
3.69B
Prev Year: 39.57B
YoY: -90.7%
Net Non Operating Interest Income Expense
6.25B
Prev Year: 6.46B
YoY: -3.2%
Non-operating Interest Income
9.06B
Prev Year: 9.35B
YoY: -3.2%
Non-operating Interest Expense
2.80B
Prev Year: 2.90B
YoY: -3.2%
Other Income Expense
15.38B
Prev Year: 5.51B
YoY: +179.1%
Gain on Sale of Securities
1.09B
Prev Year: 2.77B
YoY: -60.6%
Other Non-operating Income (expense)
8.34B
Prev Year: 5.42B
YoY: +53.8%
Pre-tax Income
25.32B
Prev Year: 51.54B
YoY: -50.9%
Provision for Income Taxes
2.18B
Prev Year: 6.88B
YoY: -68.3%
Net Income Common Stockholders
19.63B
Prev Year: 41.36B
YoY: -52.5%
Net Income
19.63B
Prev Year: 41.36B
YoY: -52.5%
Net Income Including Non-Controlling Interests
23.14B
Prev Year: 44.66B
YoY: -48.2%
Net Income from Continuing Operations
23.14B
Prev Year: 44.66B
YoY: -48.2%
Diluted NI Available to Com Stockholders
19.21B
Prev Year: 41.31B
YoY: -53.5%
Total Operating Income as Reported
2.77B
Prev Year: 38.74B
YoY: -92.8%
Total Expenses
1.31T
Prev Year: 1.12T
YoY: +16.6%
Basic EPS
-
Prev Year: 13.83
Net Income from Continuing and Discontinued Operation
19.63B
Prev Year: 41.36B
YoY: -52.5%
Diluted EPS
-
Prev Year: 13.43
Normalized Income
20.53B
Prev Year: 43.30B
YoY: -52.6%
Weighted Average Shares (basic)
-
Prev Year: 2.99B
Interest Income
9.06B
Prev Year: 9.35B
YoY: -3.2%
Weighted Average Shares (diluted)
-
Prev Year: 3.08B
Interest Expense
2.80B
Prev Year: 2.90B
YoY: -3.2%
Net Interest Income
6.25B
Prev Year: 6.46B
YoY: -3.2%
EBIT
28.13B
Prev Year: 54.43B
YoY: -48.3%
EBITDA
37.87B
Prev Year: 63.34B
YoY: -40.2%
Reconciled Cost of Revenue
1.10T
Prev Year: 974.95B
YoY: +12.7%
Reconciled Depreciation
9.75B
Prev Year: 8.90B
YoY: +9.5%
Net Income from Continuing Operation Net Minority Interest
19.63B
Prev Year: 41.36B
YoY: -52.5%
Total Unusual Items Excluding Goodwill
-982.00M
Prev Year: -2.24B
YoY: +56.1%
Total Unusual Items
-982.00M
Prev Year: -2.24B
YoY: +56.1%
Normalized EBITDA
38.85B
Prev Year: 65.58B
YoY: -40.7%
Values in CNY

JD.com key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue1.3T CNY1.2T CNY1.1T CNY1.0T CNY951.6B CNY
Gross profit210.0B CNY183.9B CNY159.7B CNY147.1B CNY129.1B CNY
Operating income3.7B CNY39.6B CNY28.9B CNY18.3B CNY5.9B CNY
Net income19.6B CNY41.4B CNY24.2B CNY10.4B CNY-3.6B CNY
Diluted EPS–13.43 CNY7.61 CNY3.21 CNY-1.15 CNY
Total assets695.2B CNY698.2B CNY629.0B CNY595.3B CNY496.5B CNY
Total liabilities401.4B CNY384.9B CNY332.6B CNY321.1B CNY249.7B CNY
Shareholders' equity225.0B CNY239.3B CNY231.9B CNY213.4B CNY208.9B CNY
Cash and short-term investments213.2B CNY234.0B CNY190.1B CNY220.0B CNY185.3B CNY
Total debt107.1B CNY89.8B CNY68.4B CNY65.0B CNY34.1B CNY
Operating cash flow19.0B CNY58.1B CNY59.5B CNY57.8B CNY42.3B CNY
Capital spending14.2B CNY13.8B CNY20.0B CNY22.9B CNY22.3B CNY
Free cash flow4.8B CNY44.3B CNY39.5B CNY34.9B CNY20.0B CNY

In CNY. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was JD.com's revenue in fiscal year 2025?

1.31 trillion CNY, up 13.0% from 1.16 trillion CNY in fiscal year 2024.

How much profit does JD.com make?

JD.com reported net income of 19.63 billion CNY for fiscal year 2025 (1.5% of revenue); operating income was 3.69 billion CNY.

How much cash and debt does JD.com have?

At the end of fiscal year 2025: cash and short-term investments of 213.23 billion CNY and total debt of 107.11 billion CNY.

What is JD.com's free cash flow?

4.81 billion CNY in fiscal year 2025 (operating cash flow of 18.99 billion CNY minus capital spending of 14.18 billion CNY).

Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
LinkedInLinkedInXXYouTubeYouTube