JD.COM, INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 30.34 USD | +6.12% |
|
+18.93% | +5.02% |
| Apr. 24 | Chinese Internet Companies Lead the Way in AI Revolution | MT |
| Apr. 19 | Lenovo, Alibaba Partnering on Generative AI Products | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 358,120 | 888,928 | 683,720 | 606,067 | 322,632 | 336,431 | - | - |
| Enterprise Value (EV) 1 | 306,598 | 758,057 | 512,143 | 428,490 | 179,486 | 270,589 | 253,992 | 236,677 |
| P/E ratio | 29.9 x | 18.1 x | -194 x | 60.3 x | 13.5 x | 12.4 x | 10.8 x | 9.57 x |
| Yield | - | - | - | 1.1% | 2.67% | 2.57% | 2.47% | 3.06% |
| Capitalization / Revenue | 0.62 x | 1.19 x | 0.72 x | 0.58 x | 0.3 x | 0.29 x | 0.27 x | 0.26 x |
| EV / Revenue | 0.53 x | 1.02 x | 0.54 x | 0.41 x | 0.17 x | 0.23 x | 0.21 x | 0.18 x |
| EV / EBITDA | 22.2 x | 36.7 x | 27.4 x | 12.8 x | 4.23 x | 5.88 x | 4.9 x | 4.09 x |
| EV / FCF | 15.8 x | 21.7 x | 19.5 x | 10.7 x | 4.36 x | 8.15 x | 6.85 x | 5.71 x |
| FCF Yield | 6.34% | 4.61% | 5.12% | 9.37% | 22.9% | 12.3% | 14.6% | 17.5% |
| Price to Book | 4.38 x | 4.75 x | 3.31 x | 2.85 x | 1.39 x | 1.38 x | 1.23 x | 1.12 x |
| Nbr of stocks (in thousands) | 1,460,161 | 1,549,877 | 1,536,133 | 1,565,500 | 1,573,500 | 1,530,233 | - | - |
| Reference price 2 | 245.3 | 573.5 | 445.1 | 387.1 | 205.0 | 219.9 | 219.9 | 219.9 |
| Announcement Date | 3/2/20 | 3/11/21 | 3/10/22 | 3/9/23 | 3/6/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 576,888 | 745,802 | 951,592 | 1,046,236 | 1,084,662 | 1,156,610 | 1,235,237 | 1,305,452 |
| EBITDA 1 | 13,811 | 20,681 | 18,712 | 33,602 | 42,452 | 46,040 | 51,863 | 57,919 |
| EBIT 1 | 8,995 | 12,343 | 4,141 | 19,723 | 26,025 | 32,861 | 37,920 | 42,874 |
| Operating Margin | 1.56% | 1.65% | 0.44% | 1.89% | 2.4% | 2.84% | 3.07% | 3.28% |
| Earnings before Tax (EBT) 1 | 13,693 | 50,819 | -2,581 | 13,867 | 31,650 | 35,143 | 40,846 | 45,934 |
| Net income 1 | 12,184 | 49,405 | -3,560 | 10,380 | 24,167 | 28,107 | 32,239 | 36,080 |
| Net margin | 2.11% | 6.62% | -0.37% | 0.99% | 2.23% | 2.43% | 2.61% | 2.76% |
| EPS 2 | 8.210 | 31.68 | -2.290 | 6.420 | 15.23 | 17.75 | 20.28 | 22.97 |
| Free Cash Flow 1 | 19,453 | 34,922 | 26,228 | 40,152 | 41,143 | 33,185 | 37,058 | 41,452 |
| FCF margin | 3.37% | 4.68% | 2.76% | 3.84% | 3.79% | 2.87% | 3% | 3.18% |
| FCF Conversion (EBITDA) | 140.85% | 168.86% | 140.17% | 119.49% | 96.92% | 72.08% | 71.45% | 71.57% |
| FCF Conversion (Net income) | 159.66% | 70.69% | - | 386.82% | 170.24% | 118.07% | 114.95% | 114.89% |
| Dividend per Share 2 | - | - | - | 4.261 | 5.469 | 5.644 | 5.439 | 6.735 |
| Announcement Date | 3/2/20 | 3/11/21 | 3/10/22 | 3/9/23 | 3/6/24 | - | - | - |
1CNY in Million2CNY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 218,708 | 275,907 | 239,655 | 267,600 | 243,535 | 295,446 | 242,956 | 287,931 | 247,698 | 306,077 | 258,083 | 302,351 | 266,565 | 325,789 | 279,657 |
| EBITDA 1 | 5,863 | 4,162 | 6,066 | 7,175 | 11,463 | 8,898 | 9,499 | 10,403 | 12,889 | 9,661 | 9,742 | 11,141 | 13,073 | 11,242 | 12,540 |
| EBIT 1 | 2,572 | -392 | 2,409 | 3,758 | 8,728 | 4,828 | 6,427 | 8,270 | 9,303 | 2,025 | 6,686 | 8,125 | 9,851 | 7,864 | - |
| Operating Margin | 1.18% | -0.14% | 1.01% | 1.4% | 3.58% | 1.63% | 2.65% | 2.87% | 3.76% | 0.66% | 2.59% | 2.69% | 3.7% | 2.41% | - |
| Earnings before Tax (EBT) 1 | -2,616 | -5,133 | -2,915 | 5,256 | 7,710 | 3,816 | 7,808 | 9,734 | 10,802 | 3,306 | 7,057 | 8,949 | 10,251 | 9,304 | - |
| Net income 1 | -2,807 | -5,165 | -2,991 | 4,376 | 5,963 | 3,032 | 6,261 | 6,581 | 7,936 | 3,389 | 5,507 | 6,859 | 8,144 | 6,641 | - |
| Net margin | -1.28% | -1.87% | -1.25% | 1.64% | 2.45% | 1.03% | 2.58% | 2.29% | 3.2% | 1.11% | 2.13% | 2.27% | 3.06% | 2.04% | - |
| EPS 2 | -1.810 | -3.320 | -1.920 | 2.740 | 3.570 | 1.910 | 3.930 | 4.150 | 5.000 | 2.130 | 3.562 | 4.330 | 5.476 | 4.399 | - |
| Dividend per Share 2 | - | - | - | - | - | 4.261 | - | - | - | 5.469 | - | - | - | 5.493 | - |
| Announcement Date | 11/18/21 | 3/10/22 | 5/17/22 | 8/23/22 | 11/18/22 | 3/9/23 | 5/11/23 | 8/16/23 | 11/15/23 | 3/6/24 | - | - | - | - | - |
1CNY in Million2CNY
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 51,522 | 130,871 | 171,577 | 177,577 | 143,146 | 65,841 | 82,438 | 99,753 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 19,453 | 34,922 | 26,228 | 40,152 | 41,143 | 33,185 | 37,058 | 41,452 |
| ROE (net income / shareholders' equity) | 15.2% | 12.5% | 8.68% | 13.4% | 10.9% | 12.7% | 12.9% | 12.9% |
| ROA (Net income/ Total Assets) | 4.59% | 4.93% | 3.75% | 5.17% | 3.95% | 4.7% | 5.11% | 5.17% |
| Assets 1 | 265,722 | 1,001,180 | -95,033 | 200,787 | 612,102 | 597,750 | 630,687 | 698,411 |
| Book Value Per Share 2 | 56.00 | 121.0 | 134.0 | 136.0 | 148.0 | 160.0 | 179.0 | 196.0 |
| Cash Flow per Share 2 | 17.00 | 28.20 | 27.20 | 36.40 | 37.50 | 32.60 | 36.40 | 38.90 |
| Capex 1 | 1,094 | 7,670 | 18,566 | 17,667 | 18,378 | 18,984 | 19,509 | 20,013 |
| Capex / Sales | 0.19% | 1.03% | 1.95% | 1.69% | 1.69% | 1.64% | 1.58% | 1.53% |
| Announcement Date | 3/2/20 | 3/11/21 | 3/10/22 | 3/9/23 | 3/6/24 | - | - | - |
1CNY in Million2CNY
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
39
Last Close Price
219.9
CNY
Average target price
267.9
CNY
Spread / Average Target
+21.84%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +5.02% | 46.43B | |
| +41.51% | 41.08B | |
| -0.17% | 8.67B | |
| -16.80% | 7.91B | |
| +7.09% | 6.41B | |
| +15.78% | 5.63B | |
| -15.71% | 6.26B | |
| +1.81% | 6.07B | |
| -53.44% | 3.6B | |
| -2.07% | 3.58B |
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