Baozun Inc. (BZUN) 10-Year Financial Performance & Capital Metrics

BZUN • • Industrial / General

Consumer CyclicalSpecialty RetailE-commerce MarketplacesCross-border E-commerce Services

AboutBaozun Inc., through its subsidiaries, provides e-commerce solutions to brand partners in the People's Republic of China. The company offers IT infrastructure setup and integration, online store design and setup, online store operations, visual merchandising and marketing campaigns, customer services, and warehousing and order fulfilment. It serves brand partners in various categories, including apparel and accessories; appliances; electronics; home and furnishings; food and health products; beauty and cosmetics; fast moving consumer goods, and mother and baby products; and automobiles. The company was formerly known as Baozun Cayman Inc. and changed its name to Baozun Inc. in March 2015. Baozun Inc. was founded in 2007 and is headquartered in Shanghai, the People's Republic of China.Show more

Revenue $9.42B +6.9%
EBITDA $130M +187.4%
Net Income -$185M +33.5%
EPS (Diluted) -3.09 +34.0%
Gross Margin 47.62% +7.7%
EBITDA Margin 1.38% +168.7%
Operating Margin -1.22% +48.0%
Net Margin -1.97% +37.8%
ROE -3.19% +34.5%
ROIC -1.33% +48.2%
Debt/Equity 0.44 -7.3%
Interest Coverage -2.95 +41.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.0x book value

✗Weaknesses

✗Negative free cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y19.52%

5Y5.3%

3Y0.09%

TTM6.08%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM12.72%

EPS CAGR

10Y-

5Y-

3Y-

TTM8.58%

ROCE

10Y Avg5.27%

5Y Avg0.85%

3Y Avg-1.48%

Latest-1.74%

Peer Comparison

Cross-border E-commerce Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
JFBRJeffs' Brands Ltd	1.77M	0.56	-0.40	36.77%	-49.67%	-163.17%		0.05
BZUNBaozun Inc.	156.94M	2.93	-0.95	6.92%	-2.09%	-3.69%		0.44
LITBLightInTheBox Holding Co., Ltd.	51M	2.79	-9.96	-59.44%	2.48%
LGCBLinkage Global Inc Ordinary Shares	17.07M	1.68	-81.16	-19.19%	-4.27%	-8.35%		0.42
GLBEGlobal-e Online Ltd.	6.5B	38.31	-85.13	32.08%	-3.37%	-3.13%	2.57%	0.03

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.6B	3.39B	4.15B	5.39B	7.28B	8.85B	9.4B	8.4B	8.81B	9.42B
Revenue Growth %	0.64%	0.3%	0.22%	0.3%	0.35%	0.22%	0.06%	-0.11%	0.05%	0.07%
Cost of Goods Sold+	2.06B	2.46B	2.74B	3.3B	4.45B	5.59B	5.94B	4.98B	4.92B	4.94B
COGS % of Revenue	0.79%	0.73%	0.66%	0.61%	0.61%	0.63%	0.63%	0.59%	0.56%	0.52%
Gross Profit+	537.46M	927.56M	1.41B	2.1B	2.83B	3.27B	3.46B	3.42B	3.9B	4.49B
Gross Margin %	0.21%	0.27%	0.34%	0.39%	0.39%	0.37%	0.37%	0.41%	0.44%	0.48%
Gross Profit Growth %	0.63%	0.73%	0.52%	0.48%	0.35%	0.16%	0.06%	-0.01%	0.14%	0.15%
Operating Expenses+	529.01M	837.5M	1.16B	1.74B	2.44B	2.71B	3.45B	3.38B	4.1B	4.6B
OpEx % of Revenue	0.2%	0.25%	0.28%	0.32%	0.34%	0.31%	0.37%	0.4%	0.47%	0.49%
Selling, General & Admin	477.2M	747.09M	1.03B	1.49B	2.03B	2.35B	3.08B	3.05B	3.68B	4.1B
SG&A % of Revenue	0.18%	0.22%	0.25%	0.28%	0.28%	0.27%	0.33%	0.36%	0.42%	0.44%
Research & Development	-59.95M	-95.64M	-140.69M	-268.97M	-392.95M	409.87M	448.41M	427.95M	505.2M	0
R&D % of Revenue	-0.02%	-0.03%	-0.03%	-0.05%	-0.05%	0.05%	0.05%	0.05%	0.06%	-
Other Operating Expenses	51.82M	90.4M	129.44M	246.29M	803.65M	-57.12M	-72.52M	-95.29M	-88.16M	501.78M
Operating Income+	8.45M	90.07M	256.33M	355.77M	306.17M	558.68M	7.02M	33.29M	-206.38M	-114.83M
Operating Margin %	0%	0.03%	0.06%	0.07%	0.04%	0.06%	0%	0%	-0.02%	-0.01%
Operating Income Growth %	1.15%	9.66%	1.85%	0.39%	-0.14%	0.82%	-0.99%	3.74%	-7.2%	0.44%
EBITDA+	31.6M	125.95M	306.95M	427.95M	426.27M	709.38M	213.96M	229.83M	45.25M	130.03M
EBITDA Margin %	0.01%	0.04%	0.07%	0.08%	0.06%	0.08%	0.02%	0.03%	0.01%	0.01%
EBITDA Growth %	1.72%	2.99%	1.44%	0.39%	-0%	0.66%	-0.7%	0.07%	-0.8%	1.87%
D&A (Non-Cash Add-back)	23.14M	35.88M	50.62M	72.17M	120.1M	150.7M	206.94M	196.54M	251.63M	244.85M
EBIT	26.84M	102.25M	268.9M	348.78M	409.58M	518.59M	-97.16M	-523.39M	-175.68M	-54M
Net Interest Income+	8.83M	11.87M	9.1M	-5.04M	-18.7M	-24.75M	6.1M	-11.1M	40.77M	29.77M
Interest Income	8.83M	11.87M	13.35M	8.02M	42.61M	41.37M	62.94M	45.82M	82.11M	68.75M
Interest Expense	0	0	4.25M	13.06M	61.32M	66.12M	56.85M	56.92M	41.34M	38.99M
Other Income/Expense	8.15M	12.19M	8.31M	-20.05M	-35.39M	-4.36M	-157.72M	-617.18M	-4.39M	-2.82M
Pretax Income+	16.6M	102.25M	264.65M	335.72M	348.27M	554.32M	-150.7M	-583.89M	-210.77M	-117.64M
Pretax Margin %	0.01%	0.03%	0.06%	0.06%	0.05%	0.06%	-0.02%	-0.07%	-0.02%	-0.01%
Income Tax+	-6.02M	16.83M	54.25M	64.95M	71.14M	127.79M	55.26M	26.48M	12M	20.74M
Effective Tax Rate %	1.36%	0.85%	0.79%	0.8%	0.81%	0.77%	1.46%	1.12%	1.32%	1.57%
Net Income+	22.62M	86.63M	208.87M	269.71M	281.3M	425.99M	-219.83M	-653.29M	-278.42M	-185.2M
Net Margin %	0.01%	0.03%	0.05%	0.05%	0.04%	0.05%	-0.02%	-0.08%	-0.03%	-0.02%
Net Income Growth %	1.38%	2.83%	1.41%	0.29%	0.04%	0.51%	-1.52%	-1.97%	0.57%	0.33%
Net Income (Continuing)	22.62M	85.42M	209.13M	269.77M	281.89M	426.53M	-205.96M	-610.37M	-222.78M	-138.38M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	17.62M	17.5M	30.71M	31.51M	1.58B	1.57B	1.75B	1.87B
EPS (Diluted)+	0.42	1.59	3.57	4.50	4.71	6.69	-3.06	-10.68	-4.68	-3.09
EPS Growth %	1.34%	2.79%	1.25%	0.26%	0.05%	0.42%	-1.46%	-2.49%	0.56%	0.34%
EPS (Basic)	0.45	1.74	3.87	4.50	4.86	6.81	-3.06	-10.68	-4.68	-3.09
Diluted Shares Outstanding	53.58M	54.59M	58.65M	59.72M	59.58M	63.6M	72.05M	61.03M	59.46M	59.83M
Basic Shares Outstanding	49.92M	49.93M	53.98M	59.72M	57.92M	62.38M	71.77M	61.03M	59.43M	59.83M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.78B	2.17B	2.5B	3.26B	5.63B	9.14B	9.19B	7.29B	7.28B	7.21B
Cash & Short-Term Investments	884.63M	1.01B	613.37M	570.73M	2.35B	5.17B	4.69B	3.1B	3.07B	2.92B
Cash Only	834.67M	968.12M	297.1M	514.12M	1.51B	3.72B	4.69B	2.21B	2.35B	1.64B
Short-Term Investments	49.96M	40M	316.27M	56.61M	835.01M	1.45B	0	882.58M	719.7M	1.27B
Accounts Receivable	494.34M	745.78M	1.2B	1.62B	2.12B	2.56B	2.72B	2.73B	2.66B	2.41B
Days Sales Outstanding	69.44	80.29	105.37	109.36	106.11	105.57	105.85	118.68	110.35	93.52
Inventory	368.69M	387.79M	476.42M	817.54M	1.1B	1.31B	1.6B	1.3B	1.35B	1.52B
Days Inventory Outstanding	65.3	57.47	63.57	90.5	90.15	85.47	98.33	95.12	100.57	112.54
Other Current Assets	23.84M	14.64M	190.37M	221.14M	39.77M	35.36M	65.88M	83.69M	93.37M	158.94M
Total Non-Current Assets+	106.38M	200.23M	518.69M	764.45M	1.39B	1.31B	3.11B	2.69B	3.18B	2.99B
Property, Plant & Equipment	59.16M	100.89M	334.8M	403.29M	847.08M	952.79M	1.75B	1.52B	1.92B	1.59B
Fixed Asset Turnover	43.93x	33.60x	12.39x	13.37x	8.59x	9.29x	5.38x	5.53x	4.59x	5.93x
Goodwill	0	0	13.31M	13.18M	13.43M	13.54M	397.44M	331.5M	312.11M	362.38M
Intangible Assets	20.11M	26.98M	66.92M	132.57M	149.43M	146.05M	394.75M	306.27M	306.07M	357.28M
Long-Term Investments	13.3M	33.44M	24.55M	103.56M	244.23M	53.22M	330.4M	265.82M	358.72M	341.67M
Other Non-Current Assets	13.82M	26.58M	63.39M	73.71M	83.13M	92.87M	128.29M	103.1M	83.68M	107.32M
Total Assets+	1.89B	2.37B	3.01B	4.02B	7.02B	10.45B	12.3B	9.98B	10.46B	10.21B
Asset Turnover	1.38x	1.43x	1.38x	1.34x	1.04x	0.85x	0.76x	0.84x	0.84x	0.92x
Asset Growth %	1.2%	0.25%	0.27%	0.33%	0.75%	0.49%	0.18%	-0.19%	0.05%	-0.02%
Total Current Liabilities+	654.13M	796.23M	1.16B	1.75B	2.3B	2.19B	4.77B	3.63B	3.75B	3.75B
Accounts Payable	457.09M	526.44M	590.36M	887.56M	867.71M	420.64M	493.5M	467.92M	562.92M	620.64M
Days Payables Outstanding	80.95	78.02	78.77	98.25	71.13	27.49	30.34	34.33	41.79	45.9
Short-Term Debt	31.06M	115.14M	222.58M	463.6M	768.73M	664.48M	3.09B	1.71B	1.95B	1.93B
Deferred Revenue (Current)	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	136.18M	69.01M	211.87M	194.21M	404.76M	615.32M	758.16M	986.97M	748.86M	732.73M
Current Ratio	2.72x	2.72x	2.15x	1.86x	2.45x	4.17x	1.93x	2.01x	1.94x	1.93x
Quick Ratio	2.16x	2.24x	1.74x	1.39x	1.97x	3.57x	1.59x	1.65x	1.58x	1.52x
Cash Conversion Cycle	53.78	59.74	90.17	101.61	125.13	163.56	173.84	179.48	169.14	160.15
Total Non-Current Liabilities+	0	0	3.75M	72.17M	2.15B	2.13B	1.06B	753.52M	863.79M	678.82M
Long-Term Debt	0	0	0	68.85M	1.84B	1.76B	0	0	0	0
Capital Lease Obligations	0	0	0	0	306.67M	369.62M	882.46M	664.29M	798.18M	597.77M
Deferred Tax Liabilities	0	0	3.75M	3.32M	2.9M	2.53M	51.46M	27.68M	24.94M	32.78M
Other Non-Current Liabilities	0	0	0	0	0	0	125.84M	61.55M	40.67M	48.27M
Total Liabilities	654.13M	796.23M	1.17B	1.82B	4.45B	4.32B	5.83B	4.38B	4.62B	4.43B
Total Debt+	31.06M	115.14M	222.58M	532.45M	2.92B	2.79B	3.98B	2.38B	2.75B	2.52B
Net Debt	-803.61M	-852.98M	-74.52M	18.33M	1.4B	-929.75M	-719.18M	165.18M	401.67M	878.71M
Debt / Equity	0.03x	0.07x	0.12x	0.24x	1.13x	0.46x	0.61x	0.43x	0.47x	0.44x
Debt / EBITDA	0.98x	0.91x	0.73x	1.24x	6.84x	3.94x	18.58x	10.35x	60.80x	19.40x
Net Debt / EBITDA	-25.43x	-6.77x	-0.24x	0.04x	3.30x	-1.31x	-3.36x	0.72x	8.88x	6.76x
Interest Coverage	-	-	60.29x	27.25x	4.99x	8.45x	0.12x	0.58x	-4.99x	-2.95x
Total Equity+	1.23B	1.57B	1.85B	2.2B	2.57B	6.13B	6.47B	5.59B	5.85B	5.78B
Equity Growth %	1.61%	0.27%	0.18%	0.19%	0.17%	1.38%	0.06%	-0.14%	0.04%	-0.01%
Book Value per Share	23.02	28.80	31.51	36.81	43.17	96.37	89.85	91.67	98.31	96.61
Total Shareholders' Equity	1.23B	1.57B	1.83B	2.18B	2.54B	6.1B	4.89B	4.03B	4.09B	3.91B
Common Stock	92.91K	99.99K	104.2K	106.14K	113.77K	144.68K	132.84K	122.22K	100.88K	102.99K
Retained Earnings	-320.22M	-233.86M	-25.29M	245.05M	520.38M	949.91M	424.63M	-224.89M	-506.01M	-691.74M
Treasury Stock	0	0	0	0	0	0	-385.49M	-820.64M	0	-95.5M
Accumulated OCI	19.2M	44.35M	10.11M	29.26M	28.08M	-48.65M	-102.48M	15.45M	32.21M	54.57M
Minority Interest	0	0	17.62M	17.5M	30.71M	31.51M	1.58B	1.57B	1.75B	1.87B

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	2.2M	13.44M	-169.07M	-98.5M	301.4M	310.01M	-96.11M	382.61M	448.25M	101.28M
Operating CF Margin %	0%	0%	-0.04%	-0.02%	0.04%	0.04%	-0.01%	0.05%	0.05%	0.01%
Operating CF Growth %	1.03%	5.1%	-13.58%	0.42%	4.06%	0.03%	-1.31%	4.98%	0.17%	-0.77%
Net Income	22.62M	86.63M	208.87M	269.71M	281.3M	425.99M	-219.83M	-653.29M	-278.42M	-138.38M
Depreciation & Amortization	23.14M	35.88M	50.62M	72.17M	136.66M	176.95M	230.61M	204.4M	251.63M	244.85M
Stock-Based Compensation	25.2M	34.19M	58.23M	75.86M	75.18M	108.44M	196.55M	142.38M	103.45M	76.26M
Deferred Taxes	0	0	0	0	0	0	0	0	0	-40.89M
Other Non-Cash Items	185.22M	113.5M	112.52M	368.18M	82.32M	-335.13M	362.52M	724.56M	109.61M	226M
Working Capital Changes	-253.98M	-256.76M	-599.31M	-884.43M	-274.06M	-66.24M	-665.95M	-35.45M	261.99M	-266.56M
Change in Receivables	-135.54M	-260.55M	-457.01M	-462.12M	-247.81M	-400.11M	-98.6M	-42.37M	226.89M	238.45M
Change in Inventory	-97.42M	-57.07M	-119.96M	-384.24M	-359.32M	-308.62M	-380.82M	127.29M	32.13M	-222.5M
Change in Payables	0	0	0	0	0	0	0	0	0	57.12M
Cash from Investing+	-126.95M	-116.74M	-639.16M	37.56M	-1.13B	-616.37M	375.82M	-1.31B	-340.37M	-817.61M
Capital Expenditures	-46.47M	-76.11M	-267.03M	-123.01M	-91.27M	-111.05M	-285.59M	-206.96M	-165.01M	-132.11M
CapEx % of Revenue	0.02%	0.02%	0.06%	0.02%	0.01%	0.01%	0.03%	0.02%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-80.48M	-40.63M	-355.1M	160.58M	-1.06B	-505.21M	869.84M	-1.02B	-70.74M	-79.7M
Cash from Financing+	687.74M	210.72M	167.71M	331.23M	1.78B	2.67B	749.95M	-1.65B	-8.03M	-19.74M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	-1.12M	-1.08M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	707.22M	256.04M	167.71M	267.92M	-1.5M	-31.24M	1.26B	556.21M	-106.56M	-28.39M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-44.27M	-62.67M	-436.1M	-221.52M	210.13M	198.96M	-381.69M	175.65M	283.25M	-106.99M
FCF Margin %	-0.02%	-0.02%	-0.11%	-0.04%	0.03%	0.02%	-0.04%	0.02%	0.03%	-0.01%
FCF Growth %	0.49%	-0.42%	-5.96%	0.49%	1.95%	-0.05%	-2.92%	1.46%	0.61%	-1.38%
FCF per Share	-0.83	-1.15	-7.44	-3.71	3.53	3.13	-5.30	2.88	4.76	-1.79
FCF Conversion (FCF/Net Income)	0.10x	0.16x	-0.81x	-0.37x	1.07x	0.73x	0.44x	-0.59x	-1.61x	-0.55x
Interest Paid	0	0	3.05M	12.99M	37.58M	38.66M	29.82M	47.14M	38.19M	27.05M
Taxes Paid	0	0	0	0	0	137.73M	145.61M	163.53M	84.77M	53.84M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	2.65%	6.18%	12.22%	13.33%	11.79%	9.79%	-3.49%	-10.83%	-4.87%	-3.19%
Return on Invested Capital (ROIC)	1.87%	11.76%	15.43%	13.38%	7.42%	9.13%	0.1%	0.43%	-2.58%	-1.33%
Gross Margin	20.68%	27.36%	34.06%	38.86%	38.82%	36.9%	36.81%	40.77%	44.21%	47.62%
Net Margin	0.87%	2.56%	5.03%	5%	3.86%	4.81%	-2.34%	-7.78%	-3.16%	-1.97%
Debt / Equity	0.03x	0.07x	0.12x	0.24x	1.13x	0.46x	0.61x	0.43x	0.47x	0.44x
Interest Coverage	-	-	60.29x	27.25x	4.99x	8.45x	0.12x	0.58x	-4.99x	-2.95x
FCF Conversion	0.10x	0.16x	-0.81x	-0.37x	1.07x	0.73x	0.44x	-0.59x	-1.61x	-0.55x
Revenue Growth	64%	30.47%	22.37%	29.99%	34.96%	21.62%	6.15%	-10.6%	4.9%	6.92%

Revenue by Segment

	2015	2016	2018	2019	2020	2021	2022	2023	2024
Service	-	-	2.88B	3.86B	4.94B	5.52B	5.76B	5.45B	5.96B
Service Growth	-	-	-	34.07%	28.24%	11.68%	4.23%	-5.24%	9.18%
Product	-	-	2.52B	3.42B	3.91B	3.87B	2.64B	3.36B	3.47B
Product Growth	-	-	-	35.97%	14.16%	-0.85%	-31.74%	26.96%	3.27%
Brand E Commerce	2.53B	3.37B	-	-	-	-	-	-	-
Brand E Commerce Growth	-	33.08%	-	-	-	-	-	-	-
Maikefeng	69.47M	24.7M	-	-	-	-	-	-	-
Maikefeng Growth	-	-64.44%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2018	2019	2020	2021	2022	2023	2024
CHINA	-	-	-	-	-	-	-	8.7B	9.31B
CHINA Growth	-	-	-	-	-	-	-	-	7.00%

Frequently Asked Questions

Growth & Financials

Baozun Inc. (BZUN) reported $9.77B in revenue for fiscal year 2024. This represents a 923% increase from $954.5M in 2012.

Baozun Inc. (BZUN) grew revenue by 6.9% over the past year. This is steady growth.

Baozun Inc. (BZUN) reported a net loss of $204.0M for fiscal year 2024.

Dividend & Returns

Yes, Baozun Inc. (BZUN) pays a dividend with a yield of 0.62%. This makes it attractive for income-focused investors.

Baozun Inc. (BZUN) has a return on equity (ROE) of -3.2%. Negative ROE indicates the company is unprofitable.

Baozun Inc. (BZUN) had negative free cash flow of $107.0M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Baozun Inc. (BZUN) 10-Year Financial Performance & Capital Metrics

BZUN • • Industrial / General

Consumer CyclicalSpecialty RetailE-commerce MarketplacesCross-border E-commerce Services

Revenue $9.42B +6.9%
EBITDA $130M +187.4%
Net Income -$185M +33.5%
EPS (Diluted) -3.09 +34.0%
Gross Margin 47.62% +7.7%
EBITDA Margin 1.38% +168.7%
Operating Margin -1.22% +48.0%
Net Margin -1.97% +37.8%
ROE -3.19% +34.5%
ROIC -1.33% +48.2%
Debt/Equity 0.44 -7.3%
Interest Coverage -2.95 +41.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.0x book value

✗Weaknesses

✗Negative free cash flow
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y19.52%

5Y5.3%

3Y0.09%

TTM6.08%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM12.72%

EPS CAGR

10Y-

5Y-

3Y-

TTM8.58%

ROCE

10Y Avg5.27%

5Y Avg0.85%

3Y Avg-1.48%

Latest-1.74%

Peer Comparison

Cross-border E-commerce Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
JFBRJeffs' Brands Ltd	1.77M	0.56	-0.40	36.77%	-49.67%	-163.17%		0.05
BZUNBaozun Inc.	156.94M	2.93	-0.95	6.92%	-2.09%	-3.69%		0.44
LITBLightInTheBox Holding Co., Ltd.	51M	2.79	-9.96	-59.44%	2.48%
LGCBLinkage Global Inc Ordinary Shares	17.07M	1.68	-81.16	-19.19%	-4.27%	-8.35%		0.42
GLBEGlobal-e Online Ltd.	6.5B	38.31	-85.13	32.08%	-3.37%	-3.13%	2.57%	0.03

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.6B	3.39B	4.15B	5.39B	7.28B	8.85B	9.4B	8.4B	8.81B	9.42B
Revenue Growth %	0.64%	0.3%	0.22%	0.3%	0.35%	0.22%	0.06%	-0.11%	0.05%	0.07%
Cost of Goods Sold+	2.06B	2.46B	2.74B	3.3B	4.45B	5.59B	5.94B	4.98B	4.92B	4.94B
COGS % of Revenue	0.79%	0.73%	0.66%	0.61%	0.61%	0.63%	0.63%	0.59%	0.56%	0.52%
Gross Profit+	537.46M	927.56M	1.41B	2.1B	2.83B	3.27B	3.46B	3.42B	3.9B	4.49B
Gross Margin %	0.21%	0.27%	0.34%	0.39%	0.39%	0.37%	0.37%	0.41%	0.44%	0.48%
Gross Profit Growth %	0.63%	0.73%	0.52%	0.48%	0.35%	0.16%	0.06%	-0.01%	0.14%	0.15%
Operating Expenses+	529.01M	837.5M	1.16B	1.74B	2.44B	2.71B	3.45B	3.38B	4.1B	4.6B
OpEx % of Revenue	0.2%	0.25%	0.28%	0.32%	0.34%	0.31%	0.37%	0.4%	0.47%	0.49%
Selling, General & Admin	477.2M	747.09M	1.03B	1.49B	2.03B	2.35B	3.08B	3.05B	3.68B	4.1B
SG&A % of Revenue	0.18%	0.22%	0.25%	0.28%	0.28%	0.27%	0.33%	0.36%	0.42%	0.44%
Research & Development	-59.95M	-95.64M	-140.69M	-268.97M	-392.95M	409.87M	448.41M	427.95M	505.2M	0
R&D % of Revenue	-0.02%	-0.03%	-0.03%	-0.05%	-0.05%	0.05%	0.05%	0.05%	0.06%	-
Other Operating Expenses	51.82M	90.4M	129.44M	246.29M	803.65M	-57.12M	-72.52M	-95.29M	-88.16M	501.78M
Operating Income+	8.45M	90.07M	256.33M	355.77M	306.17M	558.68M	7.02M	33.29M	-206.38M	-114.83M
Operating Margin %	0%	0.03%	0.06%	0.07%	0.04%	0.06%	0%	0%	-0.02%	-0.01%
Operating Income Growth %	1.15%	9.66%	1.85%	0.39%	-0.14%	0.82%	-0.99%	3.74%	-7.2%	0.44%
EBITDA+	31.6M	125.95M	306.95M	427.95M	426.27M	709.38M	213.96M	229.83M	45.25M	130.03M
EBITDA Margin %	0.01%	0.04%	0.07%	0.08%	0.06%	0.08%	0.02%	0.03%	0.01%	0.01%
EBITDA Growth %	1.72%	2.99%	1.44%	0.39%	-0%	0.66%	-0.7%	0.07%	-0.8%	1.87%
D&A (Non-Cash Add-back)	23.14M	35.88M	50.62M	72.17M	120.1M	150.7M	206.94M	196.54M	251.63M	244.85M
EBIT	26.84M	102.25M	268.9M	348.78M	409.58M	518.59M	-97.16M	-523.39M	-175.68M	-54M
Net Interest Income+	8.83M	11.87M	9.1M	-5.04M	-18.7M	-24.75M	6.1M	-11.1M	40.77M	29.77M
Interest Income	8.83M	11.87M	13.35M	8.02M	42.61M	41.37M	62.94M	45.82M	82.11M	68.75M
Interest Expense	0	0	4.25M	13.06M	61.32M	66.12M	56.85M	56.92M	41.34M	38.99M
Other Income/Expense	8.15M	12.19M	8.31M	-20.05M	-35.39M	-4.36M	-157.72M	-617.18M	-4.39M	-2.82M
Pretax Income+	16.6M	102.25M	264.65M	335.72M	348.27M	554.32M	-150.7M	-583.89M	-210.77M	-117.64M
Pretax Margin %	0.01%	0.03%	0.06%	0.06%	0.05%	0.06%	-0.02%	-0.07%	-0.02%	-0.01%
Income Tax+	-6.02M	16.83M	54.25M	64.95M	71.14M	127.79M	55.26M	26.48M	12M	20.74M
Effective Tax Rate %	1.36%	0.85%	0.79%	0.8%	0.81%	0.77%	1.46%	1.12%	1.32%	1.57%
Net Income+	22.62M	86.63M	208.87M	269.71M	281.3M	425.99M	-219.83M	-653.29M	-278.42M	-185.2M
Net Margin %	0.01%	0.03%	0.05%	0.05%	0.04%	0.05%	-0.02%	-0.08%	-0.03%	-0.02%
Net Income Growth %	1.38%	2.83%	1.41%	0.29%	0.04%	0.51%	-1.52%	-1.97%	0.57%	0.33%
Net Income (Continuing)	22.62M	85.42M	209.13M	269.77M	281.89M	426.53M	-205.96M	-610.37M	-222.78M	-138.38M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	17.62M	17.5M	30.71M	31.51M	1.58B	1.57B	1.75B	1.87B
EPS (Diluted)+	0.42	1.59	3.57	4.50	4.71	6.69	-3.06	-10.68	-4.68	-3.09
EPS Growth %	1.34%	2.79%	1.25%	0.26%	0.05%	0.42%	-1.46%	-2.49%	0.56%	0.34%
EPS (Basic)	0.45	1.74	3.87	4.50	4.86	6.81	-3.06	-10.68	-4.68	-3.09
Diluted Shares Outstanding	53.58M	54.59M	58.65M	59.72M	59.58M	63.6M	72.05M	61.03M	59.46M	59.83M
Basic Shares Outstanding	49.92M	49.93M	53.98M	59.72M	57.92M	62.38M	71.77M	61.03M	59.43M	59.83M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.78B	2.17B	2.5B	3.26B	5.63B	9.14B	9.19B	7.29B	7.28B	7.21B
Cash & Short-Term Investments	884.63M	1.01B	613.37M	570.73M	2.35B	5.17B	4.69B	3.1B	3.07B	2.92B
Cash Only	834.67M	968.12M	297.1M	514.12M	1.51B	3.72B	4.69B	2.21B	2.35B	1.64B
Short-Term Investments	49.96M	40M	316.27M	56.61M	835.01M	1.45B	0	882.58M	719.7M	1.27B
Accounts Receivable	494.34M	745.78M	1.2B	1.62B	2.12B	2.56B	2.72B	2.73B	2.66B	2.41B
Days Sales Outstanding	69.44	80.29	105.37	109.36	106.11	105.57	105.85	118.68	110.35	93.52
Inventory	368.69M	387.79M	476.42M	817.54M	1.1B	1.31B	1.6B	1.3B	1.35B	1.52B
Days Inventory Outstanding	65.3	57.47	63.57	90.5	90.15	85.47	98.33	95.12	100.57	112.54
Other Current Assets	23.84M	14.64M	190.37M	221.14M	39.77M	35.36M	65.88M	83.69M	93.37M	158.94M
Total Non-Current Assets+	106.38M	200.23M	518.69M	764.45M	1.39B	1.31B	3.11B	2.69B	3.18B	2.99B
Property, Plant & Equipment	59.16M	100.89M	334.8M	403.29M	847.08M	952.79M	1.75B	1.52B	1.92B	1.59B
Fixed Asset Turnover	43.93x	33.60x	12.39x	13.37x	8.59x	9.29x	5.38x	5.53x	4.59x	5.93x
Goodwill	0	0	13.31M	13.18M	13.43M	13.54M	397.44M	331.5M	312.11M	362.38M
Intangible Assets	20.11M	26.98M	66.92M	132.57M	149.43M	146.05M	394.75M	306.27M	306.07M	357.28M
Long-Term Investments	13.3M	33.44M	24.55M	103.56M	244.23M	53.22M	330.4M	265.82M	358.72M	341.67M
Other Non-Current Assets	13.82M	26.58M	63.39M	73.71M	83.13M	92.87M	128.29M	103.1M	83.68M	107.32M
Total Assets+	1.89B	2.37B	3.01B	4.02B	7.02B	10.45B	12.3B	9.98B	10.46B	10.21B
Asset Turnover	1.38x	1.43x	1.38x	1.34x	1.04x	0.85x	0.76x	0.84x	0.84x	0.92x
Asset Growth %	1.2%	0.25%	0.27%	0.33%	0.75%	0.49%	0.18%	-0.19%	0.05%	-0.02%
Total Current Liabilities+	654.13M	796.23M	1.16B	1.75B	2.3B	2.19B	4.77B	3.63B	3.75B	3.75B
Accounts Payable	457.09M	526.44M	590.36M	887.56M	867.71M	420.64M	493.5M	467.92M	562.92M	620.64M
Days Payables Outstanding	80.95	78.02	78.77	98.25	71.13	27.49	30.34	34.33	41.79	45.9
Short-Term Debt	31.06M	115.14M	222.58M	463.6M	768.73M	664.48M	3.09B	1.71B	1.95B	1.93B
Deferred Revenue (Current)	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	136.18M	69.01M	211.87M	194.21M	404.76M	615.32M	758.16M	986.97M	748.86M	732.73M
Current Ratio	2.72x	2.72x	2.15x	1.86x	2.45x	4.17x	1.93x	2.01x	1.94x	1.93x
Quick Ratio	2.16x	2.24x	1.74x	1.39x	1.97x	3.57x	1.59x	1.65x	1.58x	1.52x
Cash Conversion Cycle	53.78	59.74	90.17	101.61	125.13	163.56	173.84	179.48	169.14	160.15
Total Non-Current Liabilities+	0	0	3.75M	72.17M	2.15B	2.13B	1.06B	753.52M	863.79M	678.82M
Long-Term Debt	0	0	0	68.85M	1.84B	1.76B	0	0	0	0
Capital Lease Obligations	0	0	0	0	306.67M	369.62M	882.46M	664.29M	798.18M	597.77M
Deferred Tax Liabilities	0	0	3.75M	3.32M	2.9M	2.53M	51.46M	27.68M	24.94M	32.78M
Other Non-Current Liabilities	0	0	0	0	0	0	125.84M	61.55M	40.67M	48.27M
Total Liabilities	654.13M	796.23M	1.17B	1.82B	4.45B	4.32B	5.83B	4.38B	4.62B	4.43B
Total Debt+	31.06M	115.14M	222.58M	532.45M	2.92B	2.79B	3.98B	2.38B	2.75B	2.52B
Net Debt	-803.61M	-852.98M	-74.52M	18.33M	1.4B	-929.75M	-719.18M	165.18M	401.67M	878.71M
Debt / Equity	0.03x	0.07x	0.12x	0.24x	1.13x	0.46x	0.61x	0.43x	0.47x	0.44x
Debt / EBITDA	0.98x	0.91x	0.73x	1.24x	6.84x	3.94x	18.58x	10.35x	60.80x	19.40x
Net Debt / EBITDA	-25.43x	-6.77x	-0.24x	0.04x	3.30x	-1.31x	-3.36x	0.72x	8.88x	6.76x
Interest Coverage	-	-	60.29x	27.25x	4.99x	8.45x	0.12x	0.58x	-4.99x	-2.95x
Total Equity+	1.23B	1.57B	1.85B	2.2B	2.57B	6.13B	6.47B	5.59B	5.85B	5.78B
Equity Growth %	1.61%	0.27%	0.18%	0.19%	0.17%	1.38%	0.06%	-0.14%	0.04%	-0.01%
Book Value per Share	23.02	28.80	31.51	36.81	43.17	96.37	89.85	91.67	98.31	96.61
Total Shareholders' Equity	1.23B	1.57B	1.83B	2.18B	2.54B	6.1B	4.89B	4.03B	4.09B	3.91B
Common Stock	92.91K	99.99K	104.2K	106.14K	113.77K	144.68K	132.84K	122.22K	100.88K	102.99K
Retained Earnings	-320.22M	-233.86M	-25.29M	245.05M	520.38M	949.91M	424.63M	-224.89M	-506.01M	-691.74M
Treasury Stock	0	0	0	0	0	0	-385.49M	-820.64M	0	-95.5M
Accumulated OCI	19.2M	44.35M	10.11M	29.26M	28.08M	-48.65M	-102.48M	15.45M	32.21M	54.57M
Minority Interest	0	0	17.62M	17.5M	30.71M	31.51M	1.58B	1.57B	1.75B	1.87B

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	2.2M	13.44M	-169.07M	-98.5M	301.4M	310.01M	-96.11M	382.61M	448.25M	101.28M
Operating CF Margin %	0%	0%	-0.04%	-0.02%	0.04%	0.04%	-0.01%	0.05%	0.05%	0.01%
Operating CF Growth %	1.03%	5.1%	-13.58%	0.42%	4.06%	0.03%	-1.31%	4.98%	0.17%	-0.77%
Net Income	22.62M	86.63M	208.87M	269.71M	281.3M	425.99M	-219.83M	-653.29M	-278.42M	-138.38M
Depreciation & Amortization	23.14M	35.88M	50.62M	72.17M	136.66M	176.95M	230.61M	204.4M	251.63M	244.85M
Stock-Based Compensation	25.2M	34.19M	58.23M	75.86M	75.18M	108.44M	196.55M	142.38M	103.45M	76.26M
Deferred Taxes	0	0	0	0	0	0	0	0	0	-40.89M
Other Non-Cash Items	185.22M	113.5M	112.52M	368.18M	82.32M	-335.13M	362.52M	724.56M	109.61M	226M
Working Capital Changes	-253.98M	-256.76M	-599.31M	-884.43M	-274.06M	-66.24M	-665.95M	-35.45M	261.99M	-266.56M
Change in Receivables	-135.54M	-260.55M	-457.01M	-462.12M	-247.81M	-400.11M	-98.6M	-42.37M	226.89M	238.45M
Change in Inventory	-97.42M	-57.07M	-119.96M	-384.24M	-359.32M	-308.62M	-380.82M	127.29M	32.13M	-222.5M
Change in Payables	0	0	0	0	0	0	0	0	0	57.12M
Cash from Investing+	-126.95M	-116.74M	-639.16M	37.56M	-1.13B	-616.37M	375.82M	-1.31B	-340.37M	-817.61M
Capital Expenditures	-46.47M	-76.11M	-267.03M	-123.01M	-91.27M	-111.05M	-285.59M	-206.96M	-165.01M	-132.11M
CapEx % of Revenue	0.02%	0.02%	0.06%	0.02%	0.01%	0.01%	0.03%	0.02%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-80.48M	-40.63M	-355.1M	160.58M	-1.06B	-505.21M	869.84M	-1.02B	-70.74M	-79.7M
Cash from Financing+	687.74M	210.72M	167.71M	331.23M	1.78B	2.67B	749.95M	-1.65B	-8.03M	-19.74M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	-1.12M	-1.08M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	707.22M	256.04M	167.71M	267.92M	-1.5M	-31.24M	1.26B	556.21M	-106.56M	-28.39M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-44.27M	-62.67M	-436.1M	-221.52M	210.13M	198.96M	-381.69M	175.65M	283.25M	-106.99M
FCF Margin %	-0.02%	-0.02%	-0.11%	-0.04%	0.03%	0.02%	-0.04%	0.02%	0.03%	-0.01%
FCF Growth %	0.49%	-0.42%	-5.96%	0.49%	1.95%	-0.05%	-2.92%	1.46%	0.61%	-1.38%
FCF per Share	-0.83	-1.15	-7.44	-3.71	3.53	3.13	-5.30	2.88	4.76	-1.79
FCF Conversion (FCF/Net Income)	0.10x	0.16x	-0.81x	-0.37x	1.07x	0.73x	0.44x	-0.59x	-1.61x	-0.55x
Interest Paid	0	0	3.05M	12.99M	37.58M	38.66M	29.82M	47.14M	38.19M	27.05M
Taxes Paid	0	0	0	0	0	137.73M	145.61M	163.53M	84.77M	53.84M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	2.65%	6.18%	12.22%	13.33%	11.79%	9.79%	-3.49%	-10.83%	-4.87%	-3.19%
Return on Invested Capital (ROIC)	1.87%	11.76%	15.43%	13.38%	7.42%	9.13%	0.1%	0.43%	-2.58%	-1.33%
Gross Margin	20.68%	27.36%	34.06%	38.86%	38.82%	36.9%	36.81%	40.77%	44.21%	47.62%
Net Margin	0.87%	2.56%	5.03%	5%	3.86%	4.81%	-2.34%	-7.78%	-3.16%	-1.97%
Debt / Equity	0.03x	0.07x	0.12x	0.24x	1.13x	0.46x	0.61x	0.43x	0.47x	0.44x
Interest Coverage	-	-	60.29x	27.25x	4.99x	8.45x	0.12x	0.58x	-4.99x	-2.95x
FCF Conversion	0.10x	0.16x	-0.81x	-0.37x	1.07x	0.73x	0.44x	-0.59x	-1.61x	-0.55x
Revenue Growth	64%	30.47%	22.37%	29.99%	34.96%	21.62%	6.15%	-10.6%	4.9%	6.92%

Revenue by Segment

	2015	2016	2018	2019	2020	2021	2022	2023	2024
Service	-	-	2.88B	3.86B	4.94B	5.52B	5.76B	5.45B	5.96B
Service Growth	-	-	-	34.07%	28.24%	11.68%	4.23%	-5.24%	9.18%
Product	-	-	2.52B	3.42B	3.91B	3.87B	2.64B	3.36B	3.47B
Product Growth	-	-	-	35.97%	14.16%	-0.85%	-31.74%	26.96%	3.27%
Brand E Commerce	2.53B	3.37B	-	-	-	-	-	-	-
Brand E Commerce Growth	-	33.08%	-	-	-	-	-	-	-
Maikefeng	69.47M	24.7M	-	-	-	-	-	-	-
Maikefeng Growth	-	-64.44%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2018	2019	2020	2021	2022	2023	2024
CHINA	-	-	-	-	-	-	-	8.7B	9.31B
CHINA Growth	-	-	-	-	-	-	-	-	7.00%

Frequently Asked Questions

Growth & Financials

Baozun Inc. (BZUN) reported $9.77B in revenue for fiscal year 2024. This represents a 923% increase from $954.5M in 2012.

Baozun Inc. (BZUN) grew revenue by 6.9% over the past year. This is steady growth.

Baozun Inc. (BZUN) reported a net loss of $204.0M for fiscal year 2024.

Dividend & Returns

Yes, Baozun Inc. (BZUN) pays a dividend with a yield of 0.62%. This makes it attractive for income-focused investors.

Baozun Inc. (BZUN) has a return on equity (ROE) of -3.2%. Negative ROE indicates the company is unprofitable.

Baozun Inc. (BZUN) had negative free cash flow of $107.0M in fiscal year 2024, likely due to heavy capital investments.