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Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
JD. com, Inc. is a prominent technology and service provider based in the People's Republic of China, distinguished by its robust, supply chain-centric operations. The company's retail segment offers a comprehensive array of products.
How they make money
JD.com operates as a supply chain-based technology and service provider, generating revenue through online retail, third-party marketplace services, marketing services, and integrated logistics solutions. The company leverages its proprietary retail infrastructure and logistics network to provide end-to-end fulfillment and supply chain services to consumers, merchants, and business partners.
Products & services
Online retail, third-party marketplace, marketing services, warehousing, distribution, express and freight services, and on-demand delivery.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
Electronics And Home Appliance ProductsCNY 605.13B46.2%
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
Third-party merchants and suppliers — The company sources products from a vast network of third-party merchants and suppliers to fulfill orders on the JD Platform.Source
Competitors
Alibaba Group — Operates e-commerce marketplaces and logistics services in China.Source
Pinduoduo — Operates a social commerce platform and online marketplace.Source
Strengths
Integrated supply chain and logistics networkSource
Overall investment score · Quality, value, risk and opportunity
51
Fair
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
44
Weak
Financial Strength
40
Business Quality / Moat
40
Management
64
Growth Quality
26
Risk / Durability
55
Cheap for a Reason · Review the Risks
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
63
Fully Valued
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
63/100
Building Historical Record
Model Score 63/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
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WSS View
The quick read
The overall Wall Street Score is mixed across its combined quality, valuation and risk inputs. Review the category scores to identify what is helping or hurting the result.
At today’s price, the WSS valuation framework currently reads as moderate rather than unusually attractive.
The model outlook is currently moderate.
What we like
•Valuation scores attractively
•Recent buyback activity is present
What to watch
•Debt service risk
•Revenue fundamentals are weak
•Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for JD
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can JD maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•Is JD's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
•Does JD's balance between cash and debt leave enough flexibility if business conditions weaken?
•Is JD's valuation discount tied to a temporary concern or to a longer-term business risk?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for JD
Detected from reported data — verify before acting.
Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Debt service risk
Interest coverage is low (~1.0x). Earnings may be strained to cover interest expense.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on JD.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Integrated supply chain and logistics network.
+Proprietary retail infrastructure.
+Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Specialty Retail industry.
−Intense competition in the e-commerce industry.
−Regulatory and legal risks in China.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdown
Wall Street Score
Fair51/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Weak
45
Debt Cost2.6%
Debt Reduction YoY-19.4%
Debt / Equity0.48x
Tap for breakdown →
Revenue
Poor
34
Revenue YoY0.1%
Revenue CAGR9.9%
Net Margin1.1%
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Asset
Fair
59
Asset Growth YoY-0.4%
Liquidation/Share$28.24
Net Assets/MCap2.47x
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Capital
Strong
71
Earnings Yield5.9%
Buyback Yield5.1%
Debt Cost2.6%
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Management
Fair
64
ROIC1.1%
ROE6.7%
ROA2.0%
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Moat
Weak
40
EPS Growth-12.4%
FCF/Share Growth-56.2%
Rev/Share Growth15.2%
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Valuation
Strong
75
Intrinsic Value$37.90
Value Reference$22.74
MOS32.5%
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Buffett
Fair
50
Revenue34
Moat40
Valuation75
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MOS
Strong
75
MOS %32.5%
Value Reference$22.74
Deep Discount Reference$15.16
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Financial
Weak
46
Interest Coverage1.0x
ROIC1.1%
FCF Yield1.9%
Tap for breakdown →
Master
Fair
50
Financial46
Valuation75
Debt45
Tap for breakdown →
Resilience
Fair
53
Survival Years1.9 yrs
Current Ratio1.22x
FCF Margin0.4%
Tap for breakdown →
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Score Changes
2 historical score records available
Previous Score
52
Jul 24, 2026
Change
-1.4
points
Current Score
51
Oct 1, 2026
Category Changes
Revenue0
Debt0
Assets0
Capital+9.0
Management+0.6
Moat+0.1
Valuation-5.3
Buffett-0.4
JD decreased 1.4 points because Valuation declined by 5.3 points.
Positive Contributors
+ Capital improved by 9 points
Negative Contributors
− Valuation declined by 5.3 points
Projected Score
Projected Score
55
Projected Change
+4.2 points
Preliminary comparable-period financial changes suggest improvement of approximately 4.2 points. This is a projected estimate, not the official WallStreetScore.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$195.11B
$194.90B
$172.52B
$161.48B
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Cost of Revenue
$175.96B
$176.75B
$155.63B
$137.71B
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Gross Profit
$19.16B
$18.14B
$16.89B
$23.78B
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Research & Development
$3.92B
$3.31B
$2.54B
$2.44B
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SG&A Expenses
$14.19B
$14.28B
$8.46B
$7.42B
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Operating Expenses
$19.00B
$17.73B
$11.12B
$19.90B
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EBITDA
$4.24B
$5.48B
$7.05B
$6.38B
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Operating Income
$151.2M
$413.0M
$5.77B
$3.87B
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Interest Expense
$438.9M
$417.3M
$431.2M
$428.9M
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Income Before Tax
$3.42B
$3.77B
$7.67B
$4.71B
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Income Tax Expense
$498.3M
$324.7M
$1.02B
$1.25B
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Net Income
$2.19B
$2.92B
$6.16B
$3.60B
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Basic EPS
$1.58
$2.05
$4.00
$2.29
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Basic Shares
1.35B
1.42B
1.54B
1.57B
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Diluted Shares
1.41B
1.49B
1.54B
1.59B
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Upgrade to Premium for up to 10 annual periods, where available.
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Margins expanded
What Weakened
Cash position declined
Debt increased
Potential Score Impact
Positive indicators included EPS growth, net income margin. Pressure indicators included revenue growth, cash levels, debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue declined 3.2%. EPS increased 21.3%. Cash declined 12.1%. Total debt increased 4.5%. Net income margin improved by 0.3 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
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Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
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Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
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5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
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