JD.com Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,309,085	1,158,819	1,084,662	1,046,236	951,592
Revenue Growth (YoY)	12.97%	6.84%	3.67%	9.95%	27.59%
Cost of Revenue	1,099,057	974,951	924,958	899,163	822,526
Gross Profit	210,028	183,868	159,704	147,073	129,066
Selling, General & Admin	184,109	127,267	114,401	111,836	109,360
Research & Development	22,229	17,031	16,393	16,893	16,332
Other Operating Expenses	916	834	2,885	-1,379	-767
Total Operating Expenses	207,254	145,132	133,679	127,350	124,925
Operating Income	2,774	38,736	26,025	19,723	4,141
Interest Income	8,025	2,327	1,010	-2,195	-4,918
Interest Expense	-2,803	-2,896	-2,881	-2,106	-1,213
Other Non-Operating Income (Expense)	17,327	13,371	7,496	-1,555	-590
Total Non-Operating Income (Expense)	22,549	12,802	5,625	-5,856	-6,721
Pretax Income	25,323	51,538	31,650	13,867	-2,580
Provision for Income Taxes	2,181	6,878	8,393	4,176	1,887
Net Income	19,631	41,359	24,167	10,380	-3,560
Minority Interest in Earnings	3,511	3,301	-910	-689	-907
Net Income to Common	19,631	41,359	24,167	10,380	-3,560
Net Income Growth	-52.53%	71.14%	132.82%	-	-
Shares Outstanding (Basic)	1,424	1,495	1,572	1,563	1,554
Shares Outstanding (Diluted)	1,489	1,538	1,586	1,591	1,554
Shares Change (YoY)	-3.19%	-3.00%	-0.31%	2.37%	-0.05%
EPS (Basic)	13.78	27.66	15.38	6.64	-2.30
EPS (Diluted)	12.90	26.86	15.22	6.42	-2.30
EPS Growth	-51.97%	76.48%	137.07%	-	-
Free Cash Flow	18,991	44,276	39,506	34,906	20,046
Free Cash Flow Growth	-57.11%	12.07%	13.18%	74.13%	-33.42%
Free Cash Flow Per Share	12.75	28.79	24.92	21.95	12.90
Dividends Per Share	6.994	7.299	5.389	4.276	-
Dividend Growth	-4.17%	35.44%	26.02%	-	-
Gross Margin	16.04%	15.87%	14.72%	14.06%	13.56%
Operating Margin	0.21%	3.34%	2.40%	1.89%	0.44%
Profit Margin	1.77%	3.85%	2.14%	0.93%	-0.47%
FCF Margin	1.45%	3.82%	3.64%	3.34%	2.11%
EBITDA	2,774	47,640	34,317	26,959	10,373
EBITDA Margin	0.21%	4.11%	3.16%	2.58%	1.09%
EBIT	2,774	38,736	26,025	19,723	4,141
EBIT Margin	0.21%	3.34%	2.40%	1.89%	0.44%
Effective Tax Rate	8.61%	13.35%	26.52%	30.11%	-73.14%

Updated Mar 5, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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