Vipshop Holdings Limited (VIPS)
NYSE: VIPS · Real-Time Price · USD
14.04
-0.14 (-0.99%)
Aug 17, 2026, 4:00 PM EDT - Market closed
Vipshop Holdings Cash Flow Statement
Financials in millions CNY. Fiscal year is January - December.
Millions CNY. Fiscal year is Jan - Dec.
Operating Activities
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 |
Net Income | 7,242 | 7,740 | 8,117 | 6,299 | 4,681 |
Depreciation & Amortization | 1,530 | 1,422 | 1,303 | 1,235 | 1,109 |
Other Amortization | 278.64 | 270.06 | 217.32 | 178.84 | 150.48 |
Loss (Gain) From Sale of Assets | 4.59 | -3.78 | 5.26 | 34.79 | -183.45 |
Asset Writedown & Restructuring Costs | - | - | 156.24 | 239.3 | 61.92 |
Loss (Gain) From Sale of Investments | -93.19 | -78.3 | 8.89 | -447.13 | 479.71 |
Loss (Gain) on Equity Investments | -293.92 | -166.98 | -80.3 | 6.56 | -42.3 |
Stock-Based Compensation | 1,731 | 1,538 | 1,510 | 1,208 | 1,010 |
Provision & Write-off of Bad Debts | 13.83 | 44.81 | 28.11 | 70.43 | -17.12 |
Other Operating Activities | -118.1 | -113.89 | -399.84 | 445.78 | 182.47 |
Change in Accounts Receivable | 15.02 | -126.18 | -199.85 | -99.33 | -88.05 |
Change in Inventory | -25.45 | 944.73 | 601.44 | 1,455 | 917.38 |
Change in Accounts Payable | -2,169 | -2,171 | 2,566 | 982.95 | -1,942 |
Change in Unearned Revenue | 23.2 | 5.78 | 46.88 | -66.03 | 67.94 |
Change in Other Net Operating Assets | -684.91 | -176.4 | 534.89 | -1,023 | 357.18 |
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% |
Investing Activities
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 |
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 |
Cash Acquisitions | - | - | - | -387.51 | -148.81 |
Divestitures | -11.52 | - | 1.42 | 2.39 | 600.46 |
Sale (Purchase) of Intangibles | -80.77 | -839.34 | -3,064 | -671.82 | -846.25 |
Investment in Securities | -6,460 | -487.16 | -675.93 | 3,652 | 976.1 |
Other Investing Activities | 230.28 | 417.11 | 503.5 | 489.89 | -444.06 |
Investing Cash Flow | -8,297 | -3,566 | -5,160 | 1,049 | -2,326 |
Financing Activities
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 |
Short-Term Debt Issued | 67.8 | 162.8 | 112.05 | 92 | 110.8 |
Long-Term Debt Issued | 13,151 | 6,400 | 2,093 | 4,592 | 4,069 |
Total Debt Issued | 13,219 | 6,563 | 2,206 | 4,684 | 4,180 |
Short-Term Debt Repaid | -114.3 | -144.8 | -62.05 | -95.4 | -30.6 |
Long-Term Debt Repaid | -9,677 | -5,445 | -3,356 | -4,048 | -3,125 |
Total Debt Repaid | -9,791 | -5,590 | -3,418 | -4,143 | -3,155 |
Net 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 |
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 |
Net Cash Flow
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 |
Foreign Exchange Rate Adjustments | -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
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 |
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% |
Free Cash Flow Margin | 5.16% | 5.91% | 10.85% | 7.84% | 3.43% |
Free Cash Flow Per Share | 10.68 | 11.88 | 21.76 | 12.62 | 5.78 |
Levered Free Cash Flow | 2,741 | 3,722 | 6,744 | 6,497 | 1,517 |
Unlevered Free Cash Flow | 2,797 | 3,758 | 6,758 | 6,512 | 1,526 |
Additional Metrics
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 |
Cash Interest Paid | 71.15 | 57.68 | 26.48 | 21.82 | 13.77 |
Cash Income Tax Paid | 2,443 | 2,169 | 1,779 | 1,641 | 1,361 |
Change in Working Capital | -2,841 | -1,523 | 3,549 | 1,250 | -687.21 |