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JD.com Overview
About JD.com
JD.com is the third-largest Chinese e-commerce platform by gross merchandise volume in 2024. it offers a wide selection of authentic products with speedy and reliable delivery. The company has built its own nationwide fulfilment infrastructure and last-mile delivery network, staffed by its own employees, which supports both its online direct sales, its online marketplace and omnichannel businesses.
Founded
2006
HQ
Employees
570.9K
Website
Financials (LTM)
EV
$25B
JD.com Financials
JD.com reported last 12-month revenue of $192B and EBITDA of $3B.
In the same LTM period, JD.com generated $31B in gross profit, $3B in EBITDA, and $4B in net income.
Revenue (LTM)
JD.com P&L
In the most recent fiscal year, JD.com reported revenue of $168B and EBITDA of $9B.
JD.com expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $192B | XXX | $168B | XXX | XXX | XXX |
| Gross Profit | $31B | XXX | $27B | XXX | XXX | XXX |
| Gross Margin | 16% | XXX | 16% | XXX | XXX | XXX |
| EBITDA | $3B | XXX | $9B | XXX | XXX | XXX |
| EBITDA Margin | 2% | XXX | 6% | XXX | XXX | XXX |
| EBIT Margin | 0% | XXX | 3% | XXX | XXX | XXX |
| Net Profit | $4B | XXX | $6B | XXX | XXX | XXX |
| Net Margin | 2% | XXX | 4% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
JD.com Stock Performance
JD.com has current market cap of $38B, and enterprise value of $25B.
Market Cap Evolution
JD.com's stock price is $13.24.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $25B | $38B | 0.0% | XXX | XXX | XXX | $2.11 |
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Start Free TrialJD.com Valuation Multiples
JD.com trades at 0.1x EV/Revenue multiple, and 8.1x EV/EBITDA.
EV / Revenue (LTM)
JD.com Financial Valuation Multiples
As of March 7, 2026, JD.com has market cap of $38B and EV of $25B.
Equity research analysts estimate JD.com's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
JD.com has a P/E ratio of 9.4x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $38B | XXX | $38B | XXX | XXX | XXX |
| EV (current) | $25B | XXX | $25B | XXX | XXX | XXX |
| EV/Revenue | 0.1x | XXX | 0.1x | XXX | XXX | XXX |
| EV/EBITDA | 8.1x | XXX | 2.7x | XXX | XXX | XXX |
| EV/EBIT | 36.7x | XXX | 4.4x | XXX | XXX | XXX |
| EV/Gross Profit | 0.8x | XXX | 0.9x | XXX | XXX | XXX |
| P/E | 9.4x | XXX | 6.3x | XXX | XXX | XXX |
| EV/FCF | 13.7x | XXX | 3.9x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified JD.com Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
JD.com Margins & Growth Rates
JD.com's revenue in the last 12 month grew by 6%.
JD.com's revenue per employee in the last FY averaged $0.3M.
JD.com's rule of 40 is 7% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
JD.com's rule of X is 16% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
JD.com Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 6% | XXX | 13% | XXX | XXX | XXX |
| EBITDA Margin | 2% | XXX | 6% | XXX | XXX | XXX |
| EBITDA Growth | 60% | XXX | (70%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 7% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 16% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 6% | XXX | 4% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 1% | XXX | 1% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 2% | XXX | 2% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 13% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
JD.com Public Comps
See public comps and valuation multiples for other Consumer E-commerce and Horizontal E-commerce comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Coupang | XXX | XXX | XXX | XXX | XXX | XXX |
| Carvana | XXX | XXX | XXX | XXX | XXX | XXX |
| NAVER | XXX | XXX | XXX | XXX | XXX | XXX |
| JD Health | XXX | XXX | XXX | XXX | XXX | XXX |
| LY Corporation | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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JD.com M&A Activity
JD.com acquired XXX companies to date.
Last acquisition by JD.com was on XXXXXXXX, XXXXX. JD.com acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by JD.com
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialJD.com Investment Activity
JD.com invested in XXX companies to date.
JD.com made its latest investment on XXXXXXXX, XXXXX. JD.com invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by JD.com
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout JD.com
| When was JD.com founded? | JD.com was founded in 2006. |
| Where is JD.com headquartered? | JD.com is headquartered in China. |
| How many employees does JD.com have? | As of today, JD.com has over 570K employees. |
| Who is the CEO of JD.com? | JD.com's CEO is Zhenhui Wang. |
| Is JD.com publicly listed? | Yes, JD.com is a public company listed on HKEX. |
| What is the stock symbol of JD.com? | JD.com trades under 09618 ticker. |
| When did JD.com go public? | JD.com went public in 2020. |
| Who are competitors of JD.com? | JD.com main competitors are Coupang, Carvana, NAVER, JD Health. |
| What is the current market cap of JD.com? | JD.com's current market cap is $38B. |
| What is the current revenue of JD.com? | JD.com's last 12 months revenue is $192B. |
| What is the current revenue growth of JD.com? | JD.com revenue growth (NTM/LTM) is 6%. |
| What is the current EV/Revenue multiple of JD.com? | Current revenue multiple of JD.com is 0.1x. |
| Is JD.com profitable? | Yes, JD.com is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of JD.com? | JD.com's last 12 months EBITDA is $3B. |
| What is JD.com's EBITDA margin? | JD.com's last 12 months EBITDA margin is 2%. |
| What is the current EV/EBITDA multiple of JD.com? | Current EBITDA multiple of JD.com is 8.1x. |
| What is the current FCF of JD.com? | JD.com's last 12 months FCF is $2B. |
| What is JD.com's FCF margin? | JD.com's last 12 months FCF margin is 1%. |
| What is the current EV/FCF multiple of JD.com? | Current FCF multiple of JD.com is 13.7x. |
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