JD.com, Inc. (JD) Financial Ratios
15 years of historical data (2011–2025) · Consumer Cyclical · Specialty Retail
EV/EBITDA
↓
18.18
↑+673% vs avg
5yr avg: 2.35
30Y Low0.0·High36.3
P/FCF
↑
52.25
↑+1325% vs avg
5yr avg: 3.67
30Y Low1.2·High8.9
P/B Ratio
↓
0.93
↑+275% vs avg
5yr avg: 0.25
30Y Low0.1·High3.6
ROE
↑
6.5%
↓+4% vs avg
5yr avg: 6.2%
30Y Low-149%·High42%
Debt/EBITDA
↑
9.34
↑+146% vs avg
5yr avg: 3.79
30Y Low0.2·High23.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
JD Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
JD.com, Inc. trades at 14.2x earnings, 301% above its 5-year average of 3.5x, sitting at the 100th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 20.8x, the stock trades at a discount of 32%. On a free-cash-flow basis, the stock trades at 52.2x P/FCF, 1325% above the 5-year average of 3.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $37.1B | $42.7B | $53.3B | $45.8B | $89.3B | $108.9B | $136.6B | $52.3B | $30.1B | $60.3B | $35.7B |
| Enterprise Value | $30.8B | $187M | $34.7B | $42.3B | $75.5B | $72.2B | $82.1B | $49.3B | $10.3B | $58.4B | $44.5B |
| P/E Ratio → | 14.20 | 2.22 | 1.29 | 1.90 | 8.74 | — | 2.77 | 4.29 | — | 517.75 | — |
| P/S Ratio | 0.19 | 0.03 | 0.05 | 0.04 | 0.09 | 0.11 | 0.18 | 0.09 | 0.07 | 0.17 | 0.14 |
| P/B Ratio | 0.93 | 0.15 | 0.17 | 0.15 | 0.33 | 0.44 | 0.62 | 3.62 | 0.39 | 1.15 | 0.87 |
| P/FCF | 52.25 | 8.89 | 1.20 | 1.16 | 2.49 | 4.59 | 3.92 | 2.46 | — | 4.48 | 8.28 |
| P/OCF | 13.22 | 2.25 | 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
JD EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
JD.com, Inc.'s enterprise value stands at 18.2x EBITDA, 673% above its 5-year average of 2.4x. The Consumer Cyclical sector median is 12.1x, placing the stock at a 50% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.00 | 0.03 | 0.04 | 0.07 | 0.08 | 0.11 | 0.09 | 0.02 | 0.16 | 0.17 |
| EV / EBITDA | 18.18 | 0.02 | 0.75 | 1.23 | 2.80 | 6.96 | 4.46 | 3.33 | 3.49 | 17.85 | 36.30 |
| EV / EBIT | 75.20 | 0.01 | 0.88 | 1.23 | 4.72 | — | 1.58 | 3.42 | — | 53.85 | — |
| EV / FCF | — | 0.04 | 0.78 | 1.07 | 2.11 | 3.04 | 2.35 | 2.32 | — | 4.34 | 10.34 |
JD Profitability
Margins and return-on-capital ratios measuring operating efficiency
JD.com, Inc. earns an operating margin of 0.2%, roughly in line with the Consumer Cyclical sector average. Operating margins have compressed from 2.4% to 0.2% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 6.5% is modest. ROIC of 0.8% represents below-average returns on invested capital versus a sector median of 5.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.3% | 9.3% | 9.8% | 14.7% | 14.1% | 13.6% | 14.6% | 14.6% | 14.3% | 14.0% | 15.2% |
| Operating Margin | 0.2% | 0.2% | 3.3% | 2.4% | 1.9% | 0.4% | 1.7% | 1.6% | -0.6% | -0.2% | -0.8% |
| Net Profit Margin | 1.5% | 1.5% | 3.6% | 2.2% | 1.0% | -0.4% | 6.6% | 2.1% | -0.5% | 0.0% | -0.8% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.5% | 6.5% | 13.6% | 8.5% | 4.0% | -1.5% | 41.9% | 26.7% | -3.9% | 0.3% | -5.6% |
| ROA | 2.8% | 2.8% | 6.2% | 3.9% | 1.9% | -0.8% | 21.5% | 9.9% | -1.3% | 0.1% | -1.6% |
| ROIC | 0.8% | 0.8% | 9.9% | 7.1% | 6.3% | 1.6% | 10.4% | 19.7% | -3.7% | -1.2% | -4.6% |
| ROCE | 0.7% | 0.7% | 10.2% | 7.5% | 6.5% | 1.6% | 9.3% | 17.1% | -3.4% | -1.4% | -4.7% |
JD Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
JD.com, Inc. carries a Debt/EBITDA ratio of 9.3x, which is highly leveraged (96% above the sector average of 4.8x). The company holds a net cash position — cash of $149.7B exceeds total debt of $107.2B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 10.0x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.36 | 0.36 | 0.29 | 0.23 | 0.24 | 0.14 | 0.14 | 0.19 | 0.19 | 0.45 | 0.69 |
| Debt / EBITDA | 9.34 | 9.34 | 1.93 | 1.99 | 2.41 | 3.29 | 1.71 | 0.19 | 4.90 | 7.27 | 23.34 |
| Net Debt / Equity | — | -0.14 | -0.06 | -0.01 | -0.05 | -0.15 | -0.25 | -0.21 | -0.26 | -0.04 | 0.21 |
| Net Debt / EBITDA | -3.71 | -3.71 | -0.40 | -0.10 | -0.51 | -3.53 | -2.96 | -0.20 | -6.75 | -0.57 | 7.22 |
| Debt / FCF | — | -8.85 | -0.42 | -0.09 | -0.39 | -1.54 | -1.56 | -0.14 | — | -0.14 | 2.06 |
| Interest Coverage | 10.03 | 10.03 | 13.66 | 11.99 | 7.58 | -1.13 | 46.17 | 19.89 | -1.78 | 1.13 | -2.04 |
Net cash position: cash ($149.7B) exceeds total debt ($107.2B)
JD Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.22x means JD.com, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 0.89x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 1.16x to 1.22x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.22 | 1.22 | 1.29 | 1.16 | 1.32 | 1.35 | 1.35 | 0.99 | 0.87 | 0.97 | 1.02 |
| Quick Ratio | 0.89 | 0.89 | 0.99 | 0.90 | 1.02 | 1.01 | 1.01 | 0.58 | 0.50 | 0.62 | 0.74 |
| Cash Ratio | 0.74 | 0.74 | 0.78 | 0.72 | 0.83 | 0.84 | 0.84 | 0.46 | 0.30 | 0.29 | 0.26 |
| Asset Turnover | — | 1.88 | 1.66 | 1.72 | 1.76 | 1.92 | 1.77 | 15.47 | 2.21 | 1.97 | 1.62 |
| Inventory Turnover | 11.71 | 11.71 | 11.70 | 13.59 | 11.54 | 10.88 | 10.80 | 58.61 | 9.00 | 7.47 | 7.63 |
| Days Sales Outstanding | — | 8.22 | 9.58 | 7.54 | 9.32 | 6.67 | 6.74 | 1.09 | 11.25 | 32.53 | 24.51 |
JD Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
JD.com, Inc. returns 12.3% to shareholders annually — split between a 3.8% dividend yield and 8.5% buyback yield. A payout ratio of 52.9% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 7.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.8% | 24.3% | 15.5% | 14.7% | 14.7% | — | — | — | — | — | — |
| Payout Ratio | 52.9% | 52.9% | 20.0% | 27.9% | 126.1% | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.0% | 44.9% | 77.6% | 52.8% | 11.4% | — | 36.2% | 23.3% | — | 0.2% | — |
| FCF Yield | 1.9% | 11.2% | 83.0% | 86.3% | 40.1% | 21.8% | 25.5% | 40.7% | — | 22.3% | 12.1% |
| Buyback Yield | 8.5% | 50.1% | 48.6% | 5.5% | 2.0% | 4.8% | 0.2% | 0.3% | 0.7% | 0.0% | 15.0% |
| Total Shareholder Yield | 12.3% | 74.4% | 64.1% | 20.2% | 16.7% | 4.8% | 0.2% | 0.3% | 0.7% | 0.0% | 15.0% |
| Shares Outstanding | — | $1.5B | $1.5B | $1.6B | $1.6B | $1.6B | $1.6B | $1.5B | $1.4B | $1.5B | $1.4B |
Peer Comparison
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 | $37B | 14.2 | 18.2 | 52.2 | 9.3% | 0.2% | 6.5% | 0.8% | 9.3 |
 BABA | $245B | 16.2 | 16.4 | — | 39.8% | 5.8% | 9.4% | 3.8% | 2.4 |
 PDD | $110B | 8.1 | 5.9 | 7.0 | 56.3% | 21.6% | 26.9% | 27.7% | 0.1 |
 VIPS | $7B | 6.3 | 2.8 | — | 23.1% | 7.7% | 16.8% | 27.0% | 0.7 |
 BZUN | $158M | -4.6 | — | 4.0 | 74.1% | -0.0% | -4.2% | -0.0% | — |
 AMZN | $2.5T | 32.5 | 17.6 | 325.3 | 50.3% | 11.2% | 22.3% | 14.7% | 1.0 |
 WMT | $934B | 42.9 | 22.5 | 62.6 | 24.9% | 4.2% | 21.5% | 14.4% | 1.5 |
 TGT | $59B | 16.0 | 9.2 | 20.8 | 25.4% | 4.6% | 24.0% | 12.0% | 2.5 |
 EBAY | $48B | 24.2 | 20.8 | 28.9 | 71.5% | 20.5% | 41.6% | 16.8% | 2.9 |
 SHOP | $140B | 114.9 | 92.6 | 69.8 | 48.1% | 12.7% | 9.8% | 9.4% | 0.1 |
 CPNG | $31B | 157.4 | 43.0 | 59.5 | 29.4% | 1.4% | 4.8% | 14.5% | 6.8 |
| Consumer Cyclical Median | — | 20.8 | 12.1 | 15.5 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 15 years · Updated daily
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JD — Frequently Asked Questions
Quick answers to the most common questions about buying JD stock.
What is JD.com, Inc.'s P/E ratio?
JD.com, Inc.'s current P/E ratio is 14.2x. The historical average is 3.5x. This places it at the 100th percentile of its historical range.
What is JD.com, Inc.'s EV/EBITDA?
JD.com, Inc.'s current EV/EBITDA is 18.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.7x.
What is JD.com, Inc.'s ROE?
JD.com, Inc.'s return on equity (ROE) is 6.5%. The historical average is -15.2%.
Is JD stock overvalued?
Based on historical data, JD.com, Inc. is trading at a P/E of 14.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is JD.com, Inc.'s dividend yield?
JD.com, Inc.'s current dividend yield is 3.81% with a payout ratio of 52.9%.
What are JD.com, Inc.'s profit margins?
JD.com, Inc. has 9.3% gross margin and 0.2% operating margin.
How much debt does JD.com, Inc. have?
JD.com, Inc.'s Debt/EBITDA ratio is 9.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.