JD.com, Inc.JDEarnings & Financial Report
JD.com, Inc., also known as JINGDONG, formerly called 360buy, is a Chinese e-commerce company headquartered in Beijing. With revenues more than US158.8 billion in 2024, JD.com is China’s largest retailer by revenue, and ranks 47 on Fortune Global 500. It is one of the two massive B2C online retailers in China by transaction volume and revenue, and is a major competitor to Alibaba-run Tmall. JD.com’s portfolio spans across retail, technology, logistics, health care, industrials, property manag...
JD Q4 2025 Key Financial Metrics
营收
$53.9B
毛利润
$7.9B
营业利润
$-786.0M
净利润
$-78.0M
毛利率
14.6%
营业利润率
-1.5%
净利率
-0.1%
同比增长
12.2%
EPS
$-0.15
资金流向
JD.com, Inc. Q4 2025 Financial Summary
JD.com, Inc. reported revenue of $53.9B (up 12.2% YoY) for Q4 2025, with a net profit of $-78.0M (down 105.0% YoY) (-0.1% margin). Cost of goods sold was $46.0B, operating expenses totaled $8.7B.
Key Financial Metrics
| Total Revenue | $53.9B |
|---|---|
| Net Profit | $-78.0M |
| Gross Margin | 14.6% |
| Operating Margin | -1.5% |
| Report Period | Q4 2025 |
Revenue Breakdown
JD.com, Inc. Q4 2025 revenue of $53.9B breaks down across 3 segments, led by JD Retail at $43.2B (80.1% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| JD Retail | $43.2B | 80.1% |
| JD Logistics | $9.1B | 16.9% |
| New Businesses | $2.0B | 3.7% |
JD.com, Inc. Revenue by Segment — Quarterly Trend
JD.com, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as JD Retail and JD Logistics) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| JD Retail | $43.2B | $35.2B | $43.3B | $36.4B |
| JD Logistics | $9.1B | — | — | — |
| New Businesses | $2.0B | $2.2B | $1.9B | $793.0M |
JD.com, Inc. Annual Revenue by Year
JD.com, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $187.2B). Click any linked year to see what changed vs the prior 10-K.
JD.com, Inc. Quarterly Revenue & Net Profit History
JD.com, Inc. quarterly results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $53.9B | +12.2% | $-78.0M | -0.1% |
| Q3 2025 | $42.0B | +13.2% | $896.0M | 2.1% |
| Q2 2025 | $49.8B | +24.2% | $937.0M | 1.9% |
| Q1 2025 | $41.5B | +23.7% | $1.6B | 3.7% |
| Q4 2024 | $48.0B | +9.8% | $1.6B | 3.3% |
| Q3 2024 | $37.1B | +9.3% | $1.8B | 4.9% |
| Q2 2024 | $40.1B | +1.0% | $1.9B | 4.7% |
| Q1 2024 | $33.5B | -5.2% | $855.5M | 2.6% |
利润表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 营收 | $33.53B | $40.10B | $37.10B | $48.03B | $41.49B | $49.79B | $42.01B | $53.91B |
| 同比增长 | -5.2% | 1.0% | 9.3% | 9.8% | 23.7% | 24.2% | 13.2% | 12.2% |
资产负债表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 总资产 | $11.50B | $89.67B | $91.71B | $95.66B | $93.41B | $98.69B | $100.23B | $99.41B |
| 总负债 | $6.00B | $50.04B | $49.42B | $52.74B | $50.88B | $57.19B | $57.47B | $57.40B |
| 股东权益 | $5.49B | $39.54B | $42.22B | $32.79B | $42.50B | $41.50B | $42.76B | $32.18B |
现金流量表
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| 经营性现金流 | $6.98B | $-886.0M | $3.41B | $-2.52B | $3.41B | $-1.13B | $2.98B |