14 years of historical data (2011–2024) · Consumer Cyclical · Specialty Retail
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
JD.com, Inc. trades at 6.8x earnings, 84% above its 5-year average of 3.7x, sitting at the 80th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 18.8x, the stock trades at a discount of 64%. On a free-cash-flow basis, the stock trades at 1.3x P/FCF, 51% below the 5-year average of 2.7x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.4B | $53.3B | $45.8B | $89.3B | $108.9B | $136.6B | $52.3B | $30.1B | $60.3B | $35.7B | $44.1B |
| Enterprise Value | $5.7B | $34.7B | $42.3B | $75.5B | $72.2B | $82.1B | $49.3B | $10.3B | $58.4B | $44.5B | $32.6B |
| P/E Ratio → | 6.77 | 1.29 | 1.90 | 8.74 | — | 2.77 | 4.29 | — | 517.75 | — | — |
| P/S Ratio | 0.05 | 0.05 | 0.04 | 0.09 | 0.11 | 0.18 | 0.09 | 0.07 | 0.17 | 0.14 | 0.24 |
| P/B Ratio | 0.89 | 0.17 | 0.15 | 0.33 | 0.44 | 0.62 | 3.62 | 0.39 | 1.15 | 0.87 | 1.44 |
| P/FCF | 1.30 | 1.20 | 1.16 | 2.49 | 4.59 | 3.92 | 2.46 | — | 4.48 | 8.28 | — |
| P/OCF | 0.99 | 0.92 | 0.77 | 1.54 | 2.57 | 3.21 | 2.11 | 1.44 | 2.43 | 4.07 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
JD.com, Inc.'s enterprise value stands at 0.8x EBITDA, 74% below its 5-year average of 3.2x. The Consumer Cyclical sector median is 11.0x, placing the stock at a 92% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.03 | 0.04 | 0.07 | 0.08 | 0.11 | 0.09 | 0.02 | 0.16 | 0.17 | 0.18 |
| EV / EBITDA | 0.84 | 0.75 | 1.23 | 2.80 | 6.96 | 4.46 | 3.33 | 3.49 | 17.85 | 36.30 | — |
| EV / EBIT | 1.01 | 0.88 | 1.23 | 4.72 | — | 1.58 | 3.42 | — | 53.85 | — | — |
| EV / FCF | — | 0.78 | 1.07 | 2.11 | 3.04 | 2.35 | 2.32 | — | 4.34 | 10.34 | — |
Margins and return-on-capital ratios measuring operating efficiency
JD.com, Inc. earns an operating margin of 3.3%, roughly in line with the Consumer Cyclical sector average. Operating margins have expanded from 1.9% to 3.3% over the past 3 years, signaling improving operational efficiency. ROE of 13.6% is modest. ROIC of 9.9% represents adequate returns on invested capital versus a sector median of 5.6%.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.8% | 9.8% | 14.7% | 14.1% | 13.6% | 14.6% | 14.6% | 14.3% | 14.0% | 15.2% | 13.4% |
| Operating Margin | 3.3% | 3.3% | 2.4% | 1.9% | 0.4% | 1.7% | 1.6% | -0.6% | -0.2% | -0.8% | -3.6% |
| Net Profit Margin | 3.6% | 3.6% | 2.2% | 1.0% | -0.4% | 6.6% | 2.1% | -0.5% | 0.0% | -0.8% | -4.3% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.6% | 13.6% | 8.5% | 4.0% | -1.5% | 41.9% | 26.7% | -3.9% | 0.3% | -5.6% | -22.7% |
| ROA | 6.2% | 6.2% | 3.9% | 1.9% | -0.8% | 21.5% | 9.9% | -1.3% | 0.1% | -1.6% | -10.2% |
| ROIC | 9.9% | 9.9% | 7.1% | 6.3% | 1.6% | 10.4% | 19.7% | -3.7% | -1.2% | -4.6% | -23.3% |
| ROCE | 10.2% | 10.2% | 7.5% | 6.5% | 1.6% | 9.3% | 17.1% | -3.4% | -1.4% | -4.7% | -17.5% |
Solvency and debt-coverage ratios — lower is generally safer
JD.com, Inc. carries a Debt/EBITDA ratio of 1.9x, which is manageable (54% below the sector average of 4.2x). The company holds a net cash position — cash of $108.3B exceeds total debt of $89.8B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 13.4x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.29 | 0.29 | 0.23 | 0.24 | 0.14 | 0.14 | 0.19 | 0.19 | 0.45 | 0.69 | 0.21 |
| Debt / EBITDA | 1.93 | 1.93 | 1.99 | 2.41 | 3.29 | 1.71 | 0.19 | 4.90 | 7.27 | 23.34 | — |
| Net Debt / Equity | — | -0.06 | -0.01 | -0.05 | -0.15 | -0.25 | -0.21 | -0.26 | -0.04 | 0.21 | -0.37 |
| Net Debt / EBITDA | -0.40 | -0.40 | -0.10 | -0.51 | -3.53 | -2.96 | -0.20 | -6.75 | -0.57 | 7.22 | — |
| Debt / FCF | — | -0.42 | -0.09 | -0.39 | -1.54 | -1.56 | -0.14 | — | -0.14 | 2.06 | — |
| Interest Coverage | 13.38 | 13.38 | 9.03 | 9.37 | 3.41 | 10.97 | 12.41 | -3.06 | -0.87 | -3.47 | -88.98 |
Net cash position: cash ($108.3B) exceeds total debt ($89.8B)
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.29x means JD.com, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.29 | 1.29 | 1.16 | 1.32 | 1.35 | 1.35 | 0.99 | 0.87 | 0.97 | 1.02 | 1.19 |
| Quick Ratio | 0.99 | 0.99 | 0.90 | 1.02 | 1.01 | 1.01 | 0.58 | 0.50 | 0.62 | 0.74 | 0.77 |
| Cash Ratio | 0.78 | 0.78 | 0.72 | 0.83 | 0.84 | 0.84 | 0.46 | 0.30 | 0.29 | 0.26 | 0.42 |
| Asset Turnover | — | 1.66 | 1.72 | 1.76 | 1.92 | 1.77 | 15.47 | 2.21 | 1.97 | 1.62 | 2.13 |
| Inventory Turnover | 11.70 | 11.70 | 13.59 | 11.54 | 10.88 | 10.80 | 58.61 | 9.00 | 7.47 | 7.63 | 7.64 |
| Days Sales Outstanding | — | 9.58 | 7.54 | 9.32 | 6.67 | 6.74 | 1.09 | 11.25 | 32.53 | 24.51 | 17.47 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
JD.com, Inc. returns 48.0% to shareholders annually — split between a 3.0% dividend yield and 45.0% buyback yield. The payout ratio of 20.0% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 14.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.0% | 15.5% | 14.7% | 14.7% | — | — | — | — | — | — | — |
| Payout Ratio | 20.0% | 20.0% | 27.9% | 126.1% | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 14.8% | 77.6% | 52.8% | 11.4% | — | 36.2% | 23.3% | — | 0.2% | — | — |
| FCF Yield | 77.0% | 83.0% | 86.3% | 40.1% | 21.8% | 25.5% | 40.7% | — | 22.3% | 12.1% | — |
| Buyback Yield | 45.0% | 48.6% | 5.5% | 2.0% | 4.8% | 0.2% | 0.3% | 0.7% | 0.0% | 15.0% | 0.0% |
| Total Shareholder Yield | 48.0% | 64.1% | 20.2% | 16.7% | 4.8% | 0.2% | 0.3% | 0.7% | 0.0% | 15.0% | 0.0% |
| Shares Outstanding | — | $1.5B | $1.6B | $1.6B | $1.6B | $1.6B | $1.5B | $1.4B | $1.5B | $1.4B | $1.4B |
Compare JD with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| JDYou | $8B | 6.8 | 0.8 | 1.3 | 9.8% | 3.3% | 13.6% | 9.9% | 1.9 |
| BABA | $2.7T | 18.4 | 104.2 | 233.7 | 40.0% | 14.1% | 11.8% | 9.6% | 1.4 |
| AMZN | $2.3T | 29.3 | 18.4 | 293.0 | 50.3% | 11.2% | 22.3% | 14.7% | 1.2 |
| PDD | $578B | 9.4 | 35.9 | 32.8 | 60.9% | 27.5% | 44.9% | 40.3% | 0.1 |
| MELI | $89B | 44.6 | 24.1 | 8.3 | 44.5% | 11.1% | 36.0% | 20.8% | 2.8 |
| EBAY | $41B | 20.9 | 17.9 | 27.5 | 71.5% | 20.5% | 41.6% | 17.0% | 2.7 |
| SE | $5B | 148.6 | 6.3 | 1.7 | 42.8% | 3.9% | 5.9% | 5.4% | 3.9 |
| CPNG | $3B | 173.5 | 1.7 | 5.8 | -196.7% | 5.8% | 1.6% | 3.2% | 8.6 |
| YJ | $1B | -0.4 | — | — | 49.4% | -32.6% | -10.9% | -13.1% | — |
| JMIA | $1B | — | — | — | 53.9% | -33.5% | -109.9% | -3258.1% | — |
| HEPS | $853M | -23.3 | 16.0 | — | 37.5% | 0.0% | -39.7% | — | 1.1 |
| Consumer Cyclical Median | — | 18.8 | 11.0 | 14.0 | 38.6% | 2.4% | 6.5% | 5.6% | 4.2 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 14 years · Updated daily
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Start ComparisonJD.com, Inc.'s current P/E ratio is 6.8x. The historical average is 3.8x. This places it at the 80th percentile of its historical range.
JD.com, Inc.'s current EV/EBITDA is 0.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.6x.
JD.com, Inc.'s return on equity (ROE) is 13.6%. The historical average is -16.8%.
Based on historical data, JD.com, Inc. is trading at a P/E of 6.8x. This is at the 80th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
JD.com, Inc.'s current dividend yield is 2.95% with a payout ratio of 20.0%.
JD.com, Inc. has 9.8% gross margin and 3.3% operating margin.
JD.com, Inc.'s Debt/EBITDA ratio is 1.9x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.