Stocktoria

JD.com, Inc. 9618.HK

HK · Hong Kong Stock Exchange · XHKG · stock · Consumer Cyclical · website

JD.com, Inc. statistics & valuation

Market capCN¥301.0B
P / E15.3×
P / S0.2×
P / B1.3×
P / FCF62.6×
Dividend yield3.45%
Net margin1.5%
Return on equity8.7%
FCF margin0.4%
Net cashCN¥30.4B
Enterprise value USD$29.3B
Earnings yield EBIT/EV1.4%
Return on capital0.9%
Graham number +5.6%CN¥116.41

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (CN¥116.41); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
1.00% 2.20% 3.60% 1.50% 2022202320242025
Gross margin (%)
14.10% 14.70% 15.90% 16.00% 2022202320242025
Operating margin (%)
1.80% 2.70% 3.40% 0.30% 2022202320242025
Return on equity (%)
4.90% 10.40% 17.30% 8.70% 2022202320242025
Shares outstanding
2.41B 2.41B 2.41B 2.41B 2022202320242025
Net debt (CN¥)
-CN¥13.82B -CN¥3.46B -CN¥18.58B -CN¥30.38B 2022202320242025
Share buybacks (CN¥)
CN¥1.82B CN¥2.50B CN¥25.91B CN¥21.43B 2022202320242025
Return on assets (%)
1.70% 3.80% 5.90% 2.80% 2022202320242025
Free cash flow margin (%)
3.30% 3.60% 3.80% 0.40% 2022202320242025
Debt / equity (×)
0.30× 0.30× 0.38× 0.48× 2022202320242025
EPS (CN¥)
CN¥3.21 CN¥7.61 CN¥13.43 CN¥6.45 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

JD.com, Inc. trades at about 17.1× earnings — near its 10-year norm (10-year range 11.4×–72.1×, median 17.4×).

11.4× 72.1×

Shaded band = 10-year range (11.4×–72.1×); dot = today's 17.1×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin16.0%15.9%14.7%14.1%
Operating margin0.3%3.4%2.7%1.8%
Net margin1.5%3.6%2.2%1.0%
FCF margin0.4%3.8%3.6%3.3%
Return on assets2.8%5.9%3.8%1.7%
Return on equity8.7%17.3%10.4%4.9%
Debt / equity0.28×0.24×0.18×0.14×
Current ratio1.221.291.161.32

Computed from company filings · HK · as of 2025-12-31. Figures in CNY. Facts plus Stocktoria's own computed scores — not investment advice.