JD.com, Inc.

NasdaqGS:JD 株式レポート

時価総額：US$36.2b

JD.com 過去の業績

過去 基準チェック /26

JD.comは、平均年間18.9%の収益成長を遂げていますが、 Multiline Retail業界の収益は、年間 成長しています。収益は、平均年間18.9% 7.8%収益成長率で 成長しています。 JD.comの自己資本利益率は7%であり、純利益率は1.1%です。

主要情報

18.91%

収益成長率

20.65%

EPS成長率

Multiline Retail 業界の成長12.60%
収益成長率7.82%
株主資本利益率6.97%
ネット・マージン1.13%
前回の決算情報30 Jun 2026

最近の業績更新

Recent updates

Seeking Alpha • Sep 15

JD.com: At A Turning Point, Yet Still Deeply Discounted

Summary JD.com remains a Strong Buy, trading at a steep discount that already prices in elevated risk and offers significant re-rating potential. JD delivered a solid quarter with robust free cash flow of $4.69 billion and maintains an exceptional net cash position of $24.34 billion. Despite macro headwinds and China-specific risks, JD's defensive logistics network, investments, and buybacks support long-term growth prospects. My DCF-based intrinsic value is estimated well above current levels even under conservative assumptions, highlighting the market's conservative stance. Read the full article on Seeking Alpha
ナラティブ更新 • May 01

JD: Delivery Investments And Europe Expansion Will Continue To Pressure Margins

Analyst price targets for JD.com have moved up by a few dollars per share, as analysts point to more disciplined food delivery spending and refreshed models from firms that recently raised their $ targets following earlier Q4 related cuts. Analyst Commentary Recent research updates on JD.com point to a mixed setup for investors, with some firms turning more constructive while others keep a tight focus on execution risks, profitability trends, and how much of that is already reflected in the share price.
ナラティブ更新 • Apr 17

JD: Ongoing Delivery Investments Will Continue To Pressure Margins And Returns

Analysts have lifted the JD.com fair value estimate from $23.65 to $26.57. This reflects updated assumptions around slightly higher revenue growth, modestly improved profit margins, a reduced discount rate, and a higher future P/E multiple, supported by a recent wave of price target increases and upgrades tied to lower food delivery spending and refreshed models after the latest results.
ナラティブ更新 • Apr 03

JD: Ongoing Delivery And Advertising Spend Will Pressure Margins For Longer

Analysts have trimmed JD.com's fair value estimate from $26.40 to $23.65, citing recent price target cuts that reflect ongoing pressure on profitability from investments in food delivery and advertising. Updated models incorporate revised assumptions for revenue growth, margins, and future P/E levels.
ナラティブ更新 • Mar 20

JD: Europe Expansion And Ongoing Investments Will Reshape Profitability Outlook

Analysts have trimmed their fair value estimate for JD.com from about $60.47 to $53.57 as price targets across the Street move lower. The change reflects updated models that factor in a slightly higher discount rate, modestly softer margin expectations, and ongoing investment spending that is weighing on near term profitability.
ナラティブ更新 • Mar 06

JD: Slower Revenue And Higher Marketing Spend Will Test Margin Resilience

Analysts have reduced their average fair value estimate for JD.com from about $28.36 to $26.40. This change reflects updated models after recent Q4 results and concerns about slower revenue growth, slightly lower profit margins, a higher discount rate, and ongoing pressure from advertising spend on profitability.
分析記事 • Jan 05

An Intrinsic Calculation For JD.com, Inc. (NASDAQ:JD) Suggests It's 47% Undervalued

Key Insights Using the 2 Stage Free Cash Flow to Equity, JD.com fair value estimate is US$55.30 Current share price of...
ナラティブ更新 • Oct 31

JD: Delivery Order Momentum Will Drive Further Business Expansion Ahead

JD.com's analyst price target has been raised slightly, reflecting a modest increase of $0.14 to $45.26. Analysts point to recent order growth and ongoing strategic investments supporting a positive outlook.
ナラティブ更新 • Oct 17

Chinese Digital Retail And Logistics Will Open Markets Despite Risks

JD.com's analyst-derived fair value price target was nudged up by $0.13 to $45.12, as analysts cite slightly higher expected revenue growth. However, this is tempered by ongoing margin pressures and continued strategic investment priorities.
ナラティブ更新 • Oct 03

Chinese Digital Retail And Logistics Will Open Markets Despite Risks

Analysts have modestly raised their fair value price target for JD.com from $44.52 to $44.99. They cite balanced expectations for the company's growth outlook, ongoing strategic investments, and profitability considerations.
ナラティブ更新 • Sep 04

Chinese Digital Retail And Logistics Will Open Markets Despite Risks

Analysts have tempered their long-term outlook on JD.com due to ongoing margin pressures and uncertainty over profitability from new business investments, leading to a consensus price target that remains at $44.48 despite strong near-term revenue growth. Analyst Commentary Bullish analysts remain positive on JD.com's near-term growth outlook, citing strong Q2 topline performance and expectations for above-consensus revenue growth.
Seeking Alpha • Apr 19

JD.com: Enduring Growth Amid A Trade War, Hiking My Target Price

Summary Chinese stocks have outperformed in 2025; JD's strong fundamentals and government stimulus support a buy rating despite the recent pullback. JD's Q4 results exceeded expectations with $1.02 EPS and $47.5B revenue; margins and government subsidies drive optimism for 2025. JD's valuation is attractive with a forward EPS of $4.80, a 12x multiple, and a $58 intrinsic value target, indicating significant upside. Technical support at $32 is crucial; maintaining this level and rallying on improved RSI momentum could lead to a strong performance. Read the full article on Seeking Alpha
Seeking Alpha • Mar 20

JD.com: Why I See Significant Upside Potential

Summary JD.com stock is significantly undervalued, trading at a forward price/sales ratio of 0.38x, suggesting strong upside potential compared to its U.S. rivals. Despite China's economic slowdown, JD.com has strong financials, with $158.76 billion in annual revenue and impressive net income growth. The company has seen double-digit gains in retail and logistics in Q4, with increasing user growth and shopping frequency, boosting margins. JD.com is rated a Strong Buy by Wall St. analysts and Seeking Alpha Quant ratings, with potential upside from a domestic retail rebound. Read the full article on Seeking Alpha
Seeking Alpha • Mar 11

JD.com: Upgrading To Buy On Government Subsidy Tailwinds Driving Growth

Summary We are upgrading JD.com stock to Buy from Sell due to strong 4Q24 results and government consumption subsidies boosting revenue growth, especially in electronics and home appliances. Valuing JD at $56/share based on 8x forward EV/EBITDA multiple, reflecting its above-industry revenue growth and favorable macro policy support. Government subsidies are expected to continue, benefiting JD's large-ticket items; Xiaomi also seen as a potential beneficiary in non-smartphone segments. Risks include potential economic weakness impacting consumption and higher costs from JD's on-demand services expansion, but the subsidy-driven narrative remains strong for 2025. Read the full article on Seeking Alpha
Seeking Alpha • Feb 24

JD: Earnings To Reflect Q4 Stimulus

Summary JD.com is expected to report record revenues on March 6th, driven by continued growth and recent Chinese fiscal and monetary stimulus measures. Despite economic challenges, JD generated $4.7B in free cash flow in the first nine months of 2024, supporting stock buybacks and a stable dividend. JD's P/E ratio of 13.48 suggests undervaluation, especially compared to BABA, indicating potential for multiple expansion in the e-commerce sector. Risks include potential earnings miss, prolonged Chinese economic slowdown, and escalating US-China trade tensions, but JD's domestic focus may mitigate trade war impacts. Read the full article on Seeking Alpha
Seeking Alpha • Feb 13

JD.com: Is Instant Retail A Recipe For Success Or A Misstep In A Crowded Market?

Summary JD.com's low commission strategy in food delivery is unsustainable long-term due to high operational costs and lack of delivery network scale. JD lacks the delivery personnel and merchant base to compete effectively with Meituan and Ele.me, limiting its growth potential. JD should focus on international expansion and leveraging its e-commerce strengths, rather than entering China's competitive food delivery market. With JD trading at 9x forward earnings, it remains a value trap; investors should consider higher-quality Chinese internet stocks like Meituan and PDD. Read the full article on Seeking Alpha
Seeking Alpha • Jan 13

JD.com: Consumption Subsidies A Short-Term Catalyst, But Value Trap Remains

Summary China's new consumption policy could boost JD.com's home appliances and electronics revenue, posing a short-term upside risk to our bearish view on the stock. JD's PLUS membership upgrades, including generous return policies and unlimited free shipping, may enhance user stickiness and drive higher transaction frequency. Despite potential short-term gains, JD remains a value trap due to its reliance on China's weak housing market and limited international growth potential. We recommend rotating into higher-growth names like PDD, which offers low-cost leadership and global growth potential, trading at a discount compared to JD. Read the full article on Seeking Alpha
Seeking Alpha • Jan 05

JD.Com: A Capital Return Play For 2025

Summary JD.com is a leading e-Commerce company in China, poised to benefit from Beijing’s stimulus package aimed at boosting consumer spending and economic growth. The company is highly profitable, generating significant operating income/free cash flow and returning substantial capital to shareholders through aggressive stock buybacks. JD.com trades at a 7.3X forward P/E ratio (14% earnings yield), offering an attractive risk profile. The primary risk is JD.com's heavy reliance on China's consumer spending, making it potentially riskier than more diversified rivals like Alibaba and Pinduoduo. Read the full article on Seeking Alpha
Seeking Alpha • Dec 26

JD.Com Stock Should Surge Anew Despite Trump Tariffs

Summary JD.com is well-positioned despite geopolitical risks, with strong domestic focus and limited exposure to U.S. tariffs, making it a Buy. Management's innovations in AI-driven logistics and vertical integration enhance delivery speeds and customer trust, setting JD apart from Alibaba. Strong financials with $153 billion in revenue and $33.6 billion in free cash flow, yet market undervalues JD with a P/E ratio of 11.6. Government stimulus and regulatory alignment offer economic tailwinds, while Wall Street analysts remain bullish with no Sell ratings. Read the full article on Seeking Alpha
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新しいナラティブ • Nov 24

Enhanced Supply Chain And Strategic Programs Set The Stage For A Retail Growth Revolution

Enhanced supply chain and logistics are expected to lower costs and improve margins, positively impacting revenue and net margins.
Seeking Alpha • Nov 14

JD.com: Excellent Q3 Results, Cheap Again

Summary JD.com has delivered strong Q3 earnings, beating analyst expectations on both revenue and profit, indicating consistent underestimation by analysts. JD.com is attractively valued at just 9x forward net profits and 6x forward EV/EBITDA. The company is focusing on profitability over aggressive growth, with operating profit up 18% and a new $5 billion share repurchase program. Risks include potential trade tensions and Chinese consumer sentiment, but JD.com's strong balance sheet and low valuation mitigate these concerns. Read the full article on Seeking Alpha
Seeking Alpha • Nov 08

JD.com Could Thrive In A Trump Presidency

Summary JD.com stock fell on Wednesday as investors digested the implications of Trump's election win. Trump has pledged to slap 60% tariffs on goods from China, which would harm Chinese exports to the U.S. JD has barely any U.S. business, none of which is direct exports: its U.S. exposure is limited to providing logistics to Chinese companies trying to enter the U.S. market. The above logistics activities do not make up a large percentage of JD's revenue mix. In this article, I explore why JD stock should fare decently through Trump's second administration. Read the full article on Seeking Alpha
Seeking Alpha • Oct 21

JD.com: Valuation And Fundamentals At An Inflection Point

Summary JD.com remains a buy due to expected revenue acceleration, margin expansion, and strong EPS growth, despite the stock's recent increase. Revenue growth will be driven by macro environment improvements, recovery from past actions, and 3P & general merchandise market expansion. JD is still undervalued, with the market pricing it as if it will shrink, making it an attractive investment. Previous valuation analysis using price/sales ratio and DCF model still supports JD's potential for a 19% annualized return over 5 years. Read the full article on Seeking Alpha
Seeking Alpha • Oct 04

JD.com: This Is Probably Just The Beginning

Summary JD is still struggling to grow its top line, but due to improving margins and share buybacks, the bottom line almost doubled in the second quarter. In the years to come, JD will continue to grow its top line and can also use its free cash flow and cash reserves for share buybacks. Despite increasing 100% from its bottom, the stock price is still deeply undervalued. Read the full article on Seeking Alpha
Seeking Alpha • Sep 21

Can JD Maintain Its Momentum

Summary JD's RSI indicates a neutral momentum, while the stock is consolidating around key Fibonacci levels. Gross margin reached a historical high of 15.8%, showing YoY growth for two consecutive years. Electronics and home appliances revenue declined 4.6% YoY, but general merchandise grew 8.7%, with double-digit supermarket growth. JD repurchased 137 million Class A shares in Q2 2024, with a new $5 billion repurchase program starting in September. Revenue growth slowed to 1.2% YoY, below previous CAGR of 19%, as average order value continues to decline. Read the full article on Seeking Alpha
Seeking Alpha • Aug 30

JD.com: Top Chinese Stock To Buy Now

Summary JD.com has faced challenges but remains highly profitable with a low enterprise value, potentially trading at just 5-6 times forward EPS estimates. Despite stagnant growth, JD's earnings have consistently outperformed expectations, suggesting the potential for significant stock price appreciation when sales growth returns. Technical indicators show JD may have bottomed out, with potential resistance at $35-$40 and a long-term inverse head and shoulders pattern forming. Wall Street targets imply substantial upside, with average price targets around $41 and high-end estimates suggesting up to 170% growth potential. Read the full article on Seeking Alpha
Seeking Alpha • Aug 19

JD.com's Q2 Earnings: Profit Margins Are Well Set To Soar 2x

Summary JD.com delivered another quarter of growth after revenues contracted for the majority of 2023. However, Q3 revenues still came in under consensus expectations. However, JD's focus on supply chain investments and efficiency has paved the way for margin expansion, setting it apart from competitors as management believes margins can double from here. A robust buyback program that is already being executed, a solid balance sheet, and attractive single-digit valuations point to a significant upside for JD stock. Read the full article on Seeking Alpha
Seeking Alpha • Aug 12

JD.com: A Depressed Multiple With Real EPS Growth And Impressive FCF

Summary JD has struggled in the past few years despite a rally earlier this year, with investors selling tech and consumer-related China stocks. JD reported positive Q1 results in May, with strong earnings trends, and the stock now sports a low valuation. Amid bullish EPS trends and a sub-8 P/E, I see encouraging signs heading into the Q2 report. I highlight key price levels to monitor on the chart and assess the options situation. Read the full article on Seeking Alpha

収支内訳

JD.com の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。

収益と収入の歴史

NasdaqGS:JD 収益、費用、利益 ( )CNY Millions
日付収益収益G+A経費研究開発費
30 Jun 261,313,43814,79495,07226,474
31 Mar 261,323,69713,843101,93724,474
31 Dec 251,309,08519,63195,93322,229
30 Sep 251,303,78732,19886,56319,950
30 Jun 251,265,11538,65374,84818,700
31 Mar 251,199,85245,11958,56817,618
31 Dec 241,158,81941,35956,84117,031
30 Sep 241,117,91034,89453,04116,988
30 Jun 241,105,22131,09951,14516,386
31 Mar 241,101,75525,03650,56716,241
31 Dec 231,084,66224,16749,84316,393
30 Sep 231,074,03123,81049,98616,418
30 Jun 231,069,86821,83749,78216,740
31 Mar 231,049,53719,63248,16416,695
31 Dec 221,046,23610,38048,82516,893
30 Sep 221,026,6972,18350,29516,632
30 Jun 221,001,870-6,58750,89016,520
31 Mar 22988,071-10,16852,26016,186
31 Dec 21951,592-3,56050,30516,332
30 Sep 21900,01325,93045,60616,731
30 Jun 21855,51936,29741,84416,833
31 Mar 21802,77351,94936,89716,744
31 Dec 20745,80249,40533,56516,149
30 Sep 20692,15828,71430,86115,237
30 Jun 20652,78621,76629,59214,715
31 Mar 20602,0135,93828,34314,837
31 Dec 19576,88812,18427,72414,619
30 Sep 19541,0373,74525,77514,530
30 Jun 19510,9626,13428,50614,393
31 Mar 19482,9733,30325,09013,448
31 Dec 18462,020-2,49224,39612,144
30 Sep 18437,3531,40424,94210,703
30 Jun 18416,331-58223,7649,011
31 Mar 18387,2411,34322,3367,776
31 Dec 17362,33211719,1336,652
30 Sep 17331,578-23519,5215,772
30 Jun 17310,343-2,69319,6516,034
31 Mar 17279,538-79216,1014,630
31 Dec 16258,290-2,00015,3844,453
30 Sep 16233,475-8,09613,9964,352
30 Jun 16217,924-9,31914,0374,415
31 Mar 16198,605-9,30812,9563,861
31 Dec 15181,042-7,73210,5632,902
30 Sep 15161,400-3,7009,5972,993

質の高い収益: JDは 高品質の収益 を持っています。

利益率の向上: JDの現在の純利益率 (1.1%)は、昨年(3.1%)よりも低くなっています。

フリー・キャッシュフローと収益の比較

過去の収益成長分析

収益動向: JDの収益は過去 5 年間で年間18.9%増加しました。

成長の加速: JDは過去 1 年間の収益成長がマイナスであったため、5 年間の平均と比較することはできません。

収益対業界: JDは過去 1 年間で収益成長率がマイナス ( -61.7% ) となったため、 Multiline Retail業界平均 ( 18.4% ) と比較することが困難です。

株主資本利益率

高いROE: JDの 自己資本利益率 ( 7% ) は 低い とみなされます。

総資産利益率

使用総資本利益率

過去の好業績企業の発掘

7D

1Y

7D

1Y

7D

1Y

企業分析と財務データの現状

データ最終更新日（UTC時間）
企業分析2026/09/17 21:51
終値2026/09/17 00:00
収益2026/06/30
年間収益2025/12/31

データソース

企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。

パッケージデータタイムフレーム米国ソース例
会社財務10年
  • 損益計算書
  • キャッシュ・フロー計算書
  • 貸借対照表
アナリストのコンセンサス予想+プラス3年
  • 予想財務
  • アナリストの目標株価
市場価格30年
  • 株価
  • 配当、分割、措置
所有権10年
  • トップ株主
  • インサイダー取引
マネジメント10年
  • リーダーシップ・チーム
  • 取締役会
主な進展10年
  • 会社からのお知らせ

* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。

特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。

分析モデルとスノーフレーク

このレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。

シンプリー・ウォールストリート分析モデルを設計・構築した ご紹介します。

業界およびセクターの指標

私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。

アナリスト筋

JD.com, Inc. 37 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。74

アナリスト機関
Richard KramerArete Research Services LLP
Zixiao YangArete Research Services LLP
"Jiong ShaoBarclays