Vipshop Holdings Limited (VIPS)

Vipshop Holdings Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	7,410	7,839	8,201	6,312	4,693
Depreciation & Amortization	1,809	1,692	1,520	1,413	1,260
Stock-Based Compensation	1,731	1,538	1,510	1,208	1,010
Other Adjustments	-436.11	-381.32	-299.48	336.7	469.43
Change in Receivables	15.02	-126.18	-199.85	-99.33	-88.05
Changes in Inventories	-25.45	944.73	601.44	1,455	917.38
Changes in Accounts Payable	-2,169	-2,171	2,566	982.95	-1,942
Changes in Accrued Expenses	-216.35	-356.29	666.26	-248.49	263.96
Changes in Unearned Revenue	-142.6	345.3	-47.54	-94.71	269.89
Changes in Other Operating Activities	-302.76	-159.63	-36.94	-745.35	-108.73
Operating Cash Flow	7,454	9,129	14,415	10,520	6,745
Operating Cash Flow Growth	-18.34%	-36.67%	37.02%	55.97%	-42.94%
Capital Expenditures	-1,986	-2,723	-2,167	-2,431	-2,732
Sale of Property, Plant & Equipment	14.84	20.51	199.01	42.82	395.08
Purchases of Intangible Assets	-80.77	-839.34	-3,064	-671.82	-846.25
Purchases of Investments	-13,491	-5,110	-4,242	-11,479	-9,538
Proceeds from Sale of Investments	7,031	4,623	3,566	15,131	10,514
Payments for Business Acquisitions	-	-	-	-387.51	-148.81
Proceeds from Business Divestments	-11.52	-	1.42	2.39	600.46
Other Investing Activities	226.58	463.69	545.9	841.82	-570.67
Investing Cash Flow	-8,297	-3,566	-5,160	1,049	-2,326
Long-Term Debt Issued	13,219	6,563	2,206	4,684	4,180
Long-Term Debt Repaid	-9,791	-5,590	-3,418	-4,143	-3,155
Net Long-Term Debt Issued (Repaid)	3,428	973.1	-1,212	541.03	1,025
Issuance of Common Stock	1.34	0.25	-	-	419.81
Repurchase of Common Stock	-4,941	-3,866	-5,107	-6,258	-1,939
Net Common Stock Issued (Repurchased)	-4,939	-3,866	-5,107	-6,258	-1,519
Common Dividends Paid	-1,795	-1,685	-	-	-
Other Financing Activities	1,371	-392.43	173.34	143.28	435.69
Financing Cash Flow	-1,936	-4,970	-6,146	-5,573	-58.79
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-52.96	63.28	85.79	-63.32	0.58
Net Cash Flow	-2,831	657.14	3,194	5,932	4,360
Free Cash Flow	5,468	6,406	12,247	8,089	4,012
Free Cash Flow Growth	-14.63%	-47.70%	51.41%	101.61%	-58.13%
FCF Margin	5.16%	5.91%	10.85%	7.84%	3.43%
Free Cash Flow Per Share	10.68	11.88	21.76	126.23	57.84
Levered Free Cash Flow	7,637	6,285	10,007	7,172	3,634
Unlevered Free Cash Flow	3,461	4,619	10,506	5,180	2,348

Updated Feb 27, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q