JD Health - Public Comps and Valuation Multiples

JD Health Overview

About JD Health

JD Health is the largest healthcare e-commerce platform in China in terms of revenue. The company offers pharmaceutical drugs and healthcare products on its platform, both as a marketplace that connects merchants to consumers and as a first-party, or 1P, direct retailer. It also offers online consultation from real life doctors and separately partners with offline pharmacies that can provide location-based 24/7 delivery as part of an omnichannel initiative to complement its core e-commerce business. Its closest competitors are Alibaba Health, Ping An Good Doctor, and Meituan for its e-commerce business. As of Dec. 31, 2024, the platform has over 200 million active annual users and over 70,000 merchants. JD Health is 67.49% owned by its parent company, JD.com.

Founded

2018

HQ

Employees

3.6K+

Website

ir.jdhealth.com

Sectors

Pharmacies
Vertical E-commerce
Consumer E-commerce
HealthTech

Financials

LTM Revenue $10.4B

LTM EBITDA $480M

EV

$18.1B

Valuation Multiples

Multiples.vc

Valuation Multiples for 15K+ Public Comps

Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.

Browse Valuation Multiples

JD Health Financials

As of September 2025, JD Health reported last 12-month revenue of $10.4B and EBITDA of $480M.

In the same period, JD Health generated $2.5B in LTM gross profit and $659M in net income.

See JD Health valuation multiples based on analyst estimates

JD Health P&L

In the most recent fiscal year, JD Health reported revenue of $7.5B and EBITDA of $645M.

JD Health expects next 12-month revenue of XXX and NTM EBITDA of XXX

See JD Health valuation multiples based on analyst estimates

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$10.4B	XXX	$7.5B	XXX	XXX	XXX
Gross Profit	$2.5B	XXX	$1.7B	XXX	XXX	XXX
Gross Margin	24%	XXX	23%	XXX	XXX	XXX
EBITDA	$480M	XXX	$645M	XXX	XXX	XXX
EBITDA Margin	5%	XXX	9%	XXX	XXX	XXX
EBIT	$424M	XXX	$190M	XXX	XXX	XXX
EBIT Margin	4%	XXX	3%	XXX	XXX	XXX
Net Profit	$659M	XXX	$535M	XXX	XXX	XXX
Net Margin	6%	XXX	7%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

.seo-only-financials-wrapper { position: static; left: auto; width: auto; height: auto; overflow: visible; }

Financial performance metrics for JD Health including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $10.4B. EBITDA for the last twelve months was $480M. In the most recent fiscal year, JD Health achieved $7.5B in revenue and $645M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$10.4B	Analyst estimates available to subscribers	$7.5B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$2.5B	Analyst estimates available to subscribers	$1.7B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	24.0% gross margin	Analyst estimates available to subscribers	22.9% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$480M	Analyst estimates available to subscribers	$645M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	4.6% EBITDA margin	Analyst estimates available to subscribers	8.6% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$424M	Analyst estimates available to subscribers	$190M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	4.1% EBIT margin	Analyst estimates available to subscribers	2.5% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$659M	Analyst estimates available to subscribers	$535M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	6.3% net profit margin	Analyst estimates available to subscribers	7.2% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for JD Health

This financial data table provides comprehensive performance metrics for JD Health, a company based in Hong Kong. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

JD Health generated $10.4B in revenue over the last twelve months.
The company achieved $480M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $2.5B.
Net income over the last twelve months reached $659M.

Fiscal Year Performance

In the most recent fiscal year, JD Health reported $7.5B in total revenue.
Fiscal year EBITDA was $645M.
The company maintained a gross profit margin of 22.9% in the most recent fiscal year.
EBITDA margin for the fiscal year was 8.6%.
Net profit margin reached 7.2% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for JD Health. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

JD Health Stock Performance

JD Health has current market cap of HKD 194B (or $25.0B), and EV of HKD 141B (or $18.1B).

Market Cap Evolution

JD Health Stock Data

As of October 17, 2025, JD Health's stock price is HKD 61 (or $8).

See JD Health trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$18.1B	$25.0B	XXX	XXX	XXX	XXX	$0.19

Benchmark Trading Valuation Multiples by Industry

Sign up to access valuation multiples like growth-adjusted P/E, next 12-month EV/Revenue, EBITDA multiples by industry and many more

Start Free Trial

JD Health Valuation Multiples

JD Health's trades at 2.4x EV/Revenue multiple, and 28.1x EV/EBITDA.

See valuation multiples for JD Health and 15K+ public comps

JD Health Financial Valuation Multiples

As of October 17, 2025, JD Health has market cap of $25.0B and EV of $18.1B.

Equity research analysts estimate JD Health's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

JD Health has a P/E ratio of 41.4x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$25.0B	XXX	$25.0B	XXX	XXX	XXX
EV (current)	$18.1B	XXX	$18.1B	XXX	XXX	XXX
EV/Revenue	1.9x	XXX	2.4x	XXX	XXX	XXX
EV/EBITDA	41.3x	XXX	28.1x	XXX	XXX	XXX
EV/EBIT	46.7x	XXX	95.5x	XXX	XXX	XXX
EV/Gross Profit	7.9x	XXX	n/a	XXX	XXX	XXX
P/E	41.4x	XXX	46.7x	XXX	XXX	XXX
EV/FCF	25.5x	XXX	32.9x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Get JD Health Valuation Multiples

Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.

Start Free Trial

JD Health Margins & Growth Rates

JD Health's last 12 month revenue growth is 18%

JD Health's revenue per employee in the last FY averaged $2.1M, while opex per employee averaged $0.4M for the same period.

JD Health's rule of 40 is 23% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

JD Health's rule of X is 49% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

See operational valuation multiples for JD Health and other 15K+ public comps

JD Health Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	18%	XXX	24%	XXX	XXX	XXX
EBITDA Margin	5%	XXX	9%	XXX	XXX	XXX
EBITDA Growth	31%	XXX	9%	XXX	XXX	XXX
Rule of 40	23%	XXX	26%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	49%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$2.1M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	5%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	2%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	20%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Valuation Multiples Across 220+ Verticals

Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!

Digital Therapeutics

Pharma Analytics

Private Equity

ERP Software

Developer Tools

Consumer SaaS

Streaming Platforms

Explore Valuation Multiples by Industry

Start Free Trial