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Earnings transcript
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JD
JD.com, Inc.
$33.01
0.7
(2.17%)
| Exchange: | NASDAQ |
| Market Cap: | 46.341B |
| Shares Outstanding: | 2.046B |
Delayed data
About The Company
| Sector: | Consumer Cyclical | |||||
| Industry: | Specialty Retail | |||||
| CEO: | Ran Xu | |||||
| Full Time Employees: | 776682 | |||||
| Address: |
| |||||
| Website: | https://global.jd.com |
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. This includes computing devices, communication equipment, and various consumer electronics, alongside a broad selection of home appliances. Beyond these, JD.com provides an extensive general merchandise category, covering everything from groceries (food, beverages, fresh produce) and daily essentials (baby and maternity items, furniture, household goods, personal care, cosmetics, pharmaceuticals, health products) to specialized goods (industrial products, books, automotive accessories, apparel, footwear, bags, and jewelry). Additionally, the firm extends a variety of services, such as hosting an online marketplace for external vendors, delivering marketing solutions, providing omni-channel retail strategies for both consumers and traditional brick-and-mortar stores, and offering online healthcare services. JD.com also plays a significant role in infrastructure, developing, owning, and managing its own logistics facilities and other real estate assets. These capabilities not only support its internal operations but also serve third parties through asset management services, an integrated service platform, and the leasing and management of storage facilities. Beyond consumer and retail services, the company offers integrated industry solutions encompassing data analytics, technology, business operations, and user management, all designed to facilitate the digital transformation of various enterprises and institutions. It also delivers advanced, technology-driven supply chain and logistics services. Incorporated in 2006, JD.com, Inc. is headquartered in Beijing, the People’s Republic of China. The company was formerly known as 360buy Jingdong Inc. until it officially changed its name to JD.com, Inc. in January 2014.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 1,084,662,000 | 1,158,819,000 | 1,309,085,000 |
| Gross Profit | 159,704,000 | 113,442,000 | 121,852,000 |
| EBITDA | 42,823,000 | 47,356,665 | 36,827,000 |
| Operating Income | 26,025,000 | 38,736,000 | 2,774,000 |
| Net Income | 24,167,000 | 41,359,000 | 19,631,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 628,958,000 | 698,234,000 | 695,643,699 |
| Total Liabilities | 332,578,000 | 384,937,000 | 401,673,620 |
| Total Stockholders Equity | 231,858,000 | 239,347,000 | 225,183,304 |
| Total Debt | 68,431,000 | 89,768,000 | 107,173,204 |
| Cash and Cash Equivalents | 71,892,000 | 108,350,000 | 149,720,280 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 59,521,000 | 58,095,000 | 18,991,000 |
| Capital Expenditure | -20,015,000 | -13,819,000 | -14,184,000 |
| Free Cash Flow | 39,506,000 | 44,276,000 | 4,807,000 |
| Net Income | 24,167,000 | 41,359,000 | 23,142,000 |
| Net Change in Cash | -5,717,000 | 36,318,000 | 33,909,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 1,521,543,990.009 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 1,673,794,108.271 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 1,609,706,459.323 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 41,317,374.550 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 45,451,711.252 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 43,711,417.568 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 45,600,312.340 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 51,637,016.144 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 49,095,948.302 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 81,499,124.784 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 89,654,164.315 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 86,221,409.604 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 32.970 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 34.680 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 30.620 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 12 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 6 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: JD.com reported strong financial results in Q4 and full year 2024, as highlighted in the earnings call transcript. Key metrics such as revenue, net income, and operating income likely reflect consistent growth, underpinned by effective operational strategies and market positioning within the e-commerce sector.
- Strong Cash Flow Generation: Analysis of the cash flow statements indicates a healthy level of net cash provided by operating activities and positive free cash flow. This financial stability supports JD’s ability to fund strategic investments and manage operational needs without excessive reliance on external financing.
- Market Leadership in E-Commerce: As per the company profile and sector data, JD.com maintains a strong presence in the e-commerce industry within the broader consumer cyclical sector. Its large market capitalization and significant employee base suggest a competitive edge in logistics and customer reach.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates JD intrinsic value between $169.37 – $423.60 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about JD valuation
Is JD.com, Inc. (JD) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for JD.com, Inc. (JD) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is JD a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether JD trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is JD’s P/E ratio?
You can see JD’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for JD?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is JD a good long-term investment?
Whether JD fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
JD
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Daily snapshot
2.17
Trading Metrics:
| Open: | 32.3 | Previous Close: | 32.31 | |
| Day Low: | 32.25 | Day High: | 33.03 | |
| Year Low: | 24.51 | Year High: | 36.86 | |
| Price Avg 50: | 28.82 | Price Avg 200: | 29.44 | |
| Volume: | 8.189M | Average Volume: | 8.989M |
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Login — it's freeJD full analysis
Welcome to MARKETSNAP’s SWOT analysis for JD.com, one of the heavyweights in the e-commerce space. If you’re a long-term investor looking to dig into the potential of this Chinese retail giant, you’re in the right place. Today, we’re breaking down the strengths, weaknesses, opportunities, and threats for JD.com, with a focus on what’s driving the stock now and what could shape its future. Let’s dive in with a quick overview of where JD.com stands today and then get into the…
