Also trades as: 9618.HK (HKSE) · $vol 110M · 89618.HK (HKSE) · $vol 0M · 013A.F (FSX) · $vol 0M · JDCMF (OTC) · $vol 0M

$25.57

+0.33 (+1.31%)

Weekly Expected Move ±3.4%

$24 $24 $25 $26 $27

NASDAQ · Consumer Cyclical · Specialty Retail · Tech Score Sell · Power 42 · $34.1B mcap · 1.20B float · 0.659% daily turnover · Short 39% of daily vol

Credit Risk of going bust: lower than 65% of companies Debt: 31.7% of company value Bonds: $119.2M held by 63 funds, 40 bp over Treasuries → details ▾

If the stock fell to about $0.70 (down 97%), JD.com, Inc. would be worth roughly what it owes.
Total debt $15.82B against a stock market value of $34.09B.
Distance to default 6.82 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $8.04B (short-term plus half of long-term), stock volatility 29.9%; Altman Z'' 1.14. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

Overview Chart Smart Money Financials Income Statement Cash Flow Balance Sheet Earnings

Analysis Technicals Weather Peers ESG Institutions ETF Exposure Dark Pool Short Interest

Revenue Segmentation

By Product / Service

Revenue by Segment (5-Year Trend)

Income Trends

Revenue

$1.31T +13.0% ▲

5Y CAGR: +11.9%

Gross Profit

$121.9B +7.4% ▲

5Y CAGR: +2.2%

Operating Income

$2.8B -92.8% ▼

5Y CAGR: -25.8%

Net Income

$19.6B -52.5% ▼

5Y CAGR: -16.9%

EPS (Diluted)

$12.90 -52.0% ▼

5Y CAGR: -16.5%

EBITDA

$36.8B -22.2% ▼

5Y CAGR: -8.7%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$951.6B	$1.05T	$1.08T	$1.16T	$1.31T
YoY Growth	+27.6%	+9.9%	+3.7%	+6.8%	+13.0%
Cost of Revenue	$822.5B	$899.2B	$925.0B	$1.05T	$1.19T
Gross Profit	$129.1B	$147.1B	$159.7B	$113.4B	$121.9B
Gross Margin	13.6%	14.1%	14.7%	9.8%	9.3%
R&D Expenses	$16.3B	$16.9B	$16.4B	$17.0B	$22.2B
SG&A Expenses	$50.3B	$48.8B	$49.8B	$56.8B	$95.9B
Operating Expenses	$124.9B	$127.3B	$133.7B	$74.7B	$119.1B
Operating Income	$4.1B	$19.7B	$26.0B	$38.7B	$2.8B
Operating Margin	0.4%	1.9%	2.4%	3.3%	0.2%
Interest Expense	$1.2B	$2.1B	$2.9B	$2.9B	$2.8B
Income Before Tax	-$2.6B	$13.9B	$31.6B	$51.5B	$25.3B
Tax Expense	$1.9B	$4.2B	$8.4B	$6.9B	$2.2B
Net Income	-$3.6B	$10.4B	$24.2B	$41.4B	$19.6B
Net Margin	-0.4%	1.0%	2.2%	3.6%	1.5%
EPS (Diluted)	$-2.30	$6.42	$15.24	$26.90	$12.90
EBITDA	$4.9B	$23.2B	$42.8B	$47.4B	$36.8B
Shares Outstanding	1.55B	1.59B	1.59B	1.54B	1.49B

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$260.4B	$347.0B	$301.1B	$356.7B	$299.1B	$352.3B	$313.8B	$345.4B
Cost of Revenue	$231.6B	$314.0B	$253.2B	$300.0B	$270.6B	$363.4B	$261.3B	$286.6B
Gross Profit	$28.8B	$33.0B	$47.8B	$56.6B	$28.5B	-$11.1B	$52.4B	$58.9B
Gross Margin	11.0%	9.5%	15.9%	15.9%	9.5%	-3.2%	16.7%	17.0%
R&D Expenses	$4.4B	$4.4B	$4.6B	$5.3B	$5.6B	$6.7B	$6.8B	$7.2B
SG&A Expenses	$12.3B	$19.3B	$12.7B	$30.3B	$24.0B	$28.9B	$19.0B	$23.4B
Operating Expenses	$16.7B	$24.5B	$37.3B	$57.5B	$29.5B	-$5.3B	$48.7B	$54.7B
Operating Income	$12.0B	$8.5B	$10.5B	-$859M	-$1.1B	-$5.8B	$3.8B	$4.1B
Operating Margin	4.6%	2.4%	3.5%	-0.2%	-0.4%	-1.7%	1.2%	1.2%
Interest Expense	$681M	$926M	$600M	$643M	$730M	$830M	$682M	$706M
Income Before Tax	$15.2B	$11.6B	$13.3B	$6.7B	$6.6B	-$1.4B	$7.0B	$10.6B
Tax Expense	$2.4B	$750M	$2.1B	-$10M	$252M	-$124M	$1.3B	$2.0B
Net Income	$11.7B	$9.9B	$10.9B	$6.2B	$5.3B	-$2.7B	$5.1B	$7.1B
Net Margin	4.5%	2.8%	3.6%	1.7%	1.8%	-0.8%	1.6%	2.1%
EPS (Diluted)	$7.74	$6.48	$7.18	$4.14	$3.38	$-1.80	$3.54	$5.02
EBITDA	$6.3B	$11.3B	$14.3B	$9.4B	$8.9B	$2.3B	$10.4B	$7.0B
Shares Outstanding	1.52B	1.52B	1.52B	1.49B	1.48B	1.49B	1.43B	1.41B

JD NASDAQ