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JD.com

Nasdaq:JD
Snowflake Description

Reasonable growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
JD
Nasdaq
$32B
Market Cap
  1. Home
  2. US
  3. Retail
Company description

JD.com, Inc., through its subsidiaries, operates as an e-commerce company and retail infrastructure service provider in the People’s Republic of China. The last earnings update was 61 days ago. More info.


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JD Share Price and Events
7 Day Returns
1.7%
NasdaqGS:JD
0%
US Online Retail
0.9%
US Market
1 Year Returns
-49.5%
NasdaqGS:JD
-0.6%
US Online Retail
-8%
US Market
JD Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
JD.com (JD) 1.7% 16.8% 1.1% -49.5% -14.7% -
US Online Retail 0% 0.6% -7.3% -0.6% 117.3% 172.8%
US Market 0.9% -0.3% -8.1% -8% 37.1% 32.9%
1 Year Return vs Industry and Market
  • JD underperformed the Online Retail industry which returned -0.6% over the past year.
  • JD underperformed the Market in United States of America which returned -8% over the past year.
Price Volatility
JD
Industry
5yr Volatility vs Market
Related Companies

JD Value

 Is JD.com undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of JD.com to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for JD.com.

NasdaqGS:JD Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 38 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 16.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:JD
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
Online Retail Unlevered Beta Simply Wall St/ S&P Global 1.74
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.742 (1 + (1- 25%) (8.97%))
1.859
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.859 * 7.27%)
16.25%

Discounted Cash Flow Calculation for NasdaqGS:JD using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for JD.com is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:JD DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (CNY, Millions) 13,024.79 16,078.56 17,347.30 26,539.83 34,305.67
Source Analyst x7 Analyst x7 Analyst x4 Analyst x3 Analyst x3
Present Value
Discounted (@ 16.25%)
11,204.44 11,898.32 11,043.07 14,533.67 16,160.77
Present value of next 5 years cash flows CN¥64,840.26
NasdaqGS:JD DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= CN¥34,305.67 × (1 + 2.73%) ÷ (16.25% – 2.73%)
CN¥260,730.24
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= CN¥260,730.24 ÷ (1 + 16.25%)5
CN¥122,825.24
NasdaqGS:JD Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= CN¥64,840.26 + CN¥122,825.24
CN¥187,665.50
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥187,665.50 / 1,446.78
CN¥129.71
NasdaqGS:JD Discount to Share Price
Calculation Result
Exchange Rate CNY/USD
(Reporting currency to currency of NasdaqGS:JD)
0.148
Value per Share
(USD)
= Value per Share in CNY x Exchange Rate (CNY/USD)
= CN¥129.71 x 0.148
$19.14
Value per share (USD) From above. $19.14
Current discount Discount to share price of $23.26
= -1 x ($23.26 - $19.14) / $19.14
-21.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of JD.com is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for JD.com's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are JD.com's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:JD PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in CNY CN¥0.98
NasdaqGS:JD Share Price ** NasdaqGS (2019-01-18) in USD $23.26
NasdaqGS:JD Share Price converted to CNY reporting currency Exchange rate (USD/ CNY) 6.778 CN¥157.64
United States of America Online Retail Industry PE Ratio Median Figure of 25 Publicly-Listed Online Retail Companies 33.72x
United States of America Market PE Ratio Median Figure of 3,018 Publicly-Listed Companies 16.76x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of JD.com.

NasdaqGS:JD PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:JD Share Price ÷ EPS (both in CNY)

= 157.64 ÷ 0.98

160.94x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • JD.com is overvalued based on earnings compared to the US Online Retail industry average.
  • JD.com is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does JD.com's expected growth come at a high price?
Raw Data
NasdaqGS:JD PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 160.94x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 38 Analysts
38.7%per year
United States of America Online Retail Industry PEG Ratio Median Figure of 22 Publicly-Listed Online Retail Companies 1.46x
United States of America Market PEG Ratio Median Figure of 2,101 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

NasdaqGS:JD PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 160.94x ÷ 38.7%

4.16x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • JD.com is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on JD.com's assets?
Raw Data
NasdaqGS:JD PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in CNY CN¥44.20
NasdaqGS:JD Share Price * NasdaqGS (2019-01-18) in USD $23.26
NasdaqGS:JD Share Price converted to CNY reporting currency Exchange rate (USD/ CNY) 6.778 CN¥157.64
United States of America Online Retail Industry PB Ratio Median Figure of 59 Publicly-Listed Online Retail Companies 3.11x
United States of America Market PB Ratio Median Figure of 5,086 Publicly-Listed Companies 1.72x
NasdaqGS:JD PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:JD Share Price ÷ Book Value per Share (both in CNY)

= 157.64 ÷ 44.20

3.57x

* Primary Listing of JD.com.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • JD.com is overvalued based on assets compared to the US Online Retail industry average.
X
Value checks
We assess JD.com's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Online Retail industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Online Retail industry average (and greater than 0)? (1 check)
  5. JD.com has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

JD Future Performance

 How is JD.com expected to perform in the next 1 to 3 years based on estimates from 38 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
38.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is JD.com expected to grow at an attractive rate?
  • JD.com's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • JD.com's earnings growth is expected to exceed the United States of America market average.
  • JD.com's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:JD Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:JD Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 38 Analysts 38.7%
NasdaqGS:JD Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 38 Analysts 14.5%
United States of America Online Retail Industry Earnings Growth Rate Market Cap Weighted Average 29.9%
United States of America Online Retail Industry Revenue Growth Rate Market Cap Weighted Average 18.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:JD Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 38 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:JD Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 981,052 54,881 33,708 1
2022-12-31 875,594 45,769 24,477 1
2021-12-31 755,545 30,910 10,048 4
2020-12-31 644,250 23,506 4,896 31
2019-12-31 548,574 20,357 937 38
2018-12-31 459,390 17,471 156 36
NasdaqGS:JD Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-09-30 437,353 16,204 1,404
2018-06-30 416,331 14,344 -582
2018-03-31 387,241 16,577 1,343
2017-12-31 362,332 24,821 117
2017-09-30 331,578 20,487 -235
2017-06-30 310,343 24,790 -2,693
2017-03-31 279,538 10,266 -792
2016-12-31 258,290 8,767 -2,000
2016-09-30 233,475 11,703 -8,096
2016-06-30 217,924 -413 -9,319
2016-03-31 198,605 2,260 -9,308
2015-12-31 181,042 1,696 -7,732

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • JD.com's earnings are expected to grow significantly at over 20% yearly.
  • JD.com's revenue is expected to grow by 14.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:JD Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 38 Analyst Estimates (S&P Global) See Below

All data from JD.com Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:JD Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.60 1.60 1.60 1.00
2020-12-31 2.78 4.15 1.27 12.00
2019-12-31 0.54 3.89 -2.07 21.00
2018-12-31 0.00 0.84 -2.03 20.00
NasdaqGS:JD Past Financials Data
Date (Data in CNY Millions) EPS *
2018-09-30 0.98
2018-06-30 -0.41
2018-03-31 0.94
2017-12-31 0.08
2017-09-30 -0.17
2017-06-30 -1.89
2017-03-31 -0.56
2016-12-31 -1.43
2016-09-30 -5.82
2016-06-30 -6.79
2016-03-31 -6.80
2015-12-31 -5.65

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • JD.com is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess JD.com's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
JD.com has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

JD Past Performance

  How has JD.com performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare JD.com's growth in the last year to its industry (Online Retail).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • JD.com has delivered over 20% year on year earnings growth in the past 5 years.
  • JD.com has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • JD.com has become profitable in the last year making it difficult to compare the US Online Retail industry average.
Earnings and Revenue History
JD.com's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from JD.com Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:JD Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 437,352.54 1,403.86 24,942.35 10,703.20
2018-06-30 416,330.52 -582.47 23,764.46 9,010.51
2018-03-31 387,241.47 1,342.99 22,335.84 7,776.35
2017-12-31 362,331.75 116.82 21,491.90 6,652.37
2017-09-30 331,577.55 -235.33 19,521.20 5,772.24
2017-06-30 310,342.86 -2,692.64 19,650.51 6,033.83
2017-03-31 279,538.47 -791.88 16,100.83 4,630.45
2016-12-31 258,289.95 -2,000.44 15,383.56 4,452.71
2016-09-30 233,474.83 -8,095.57 13,996.26 4,352.02
2016-06-30 217,924.11 -9,319.49 14,036.89 4,415.02
2016-03-31 198,604.51 -9,307.52 12,956.23 3,860.74
2015-12-31 181,042.30 -7,731.76 10,562.61 2,902.03
2015-09-30 161,399.88 -3,699.78 9,596.57 2,992.71
2015-06-30 146,301.31 -1,839.31 8,498.55 2,619.93
2015-03-31 128,985.48 -8,375.19 7,423.96 2,255.30
2014-12-31 115,002.32 -12,954.00 9,985.34 1,835.92
2014-09-30 100,405.17 -11,390.44 8,212.37 1,492.78
2014-06-30 89,431.50 -12,855.35 7,760.17 1,231.46
2014-03-31 78,272.23 -7,787.29 6,827.05 1,029.66
2013-12-31 69,339.81 -2,485.27 2,772.51 963.65
2013-09-30 61,790.50 -3,163.19 2,579.45 908.17
2012-12-31 41,380.52 -3,316.93 2,016.86 636.35

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • JD.com has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • It is difficult to establish if JD.com has efficiently used its assets last year compared to the US Online Retail industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if JD.com improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess JD.com's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Online Retail industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
JD.com has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

JD Health

 How is JD.com's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up JD.com's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • JD.com's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • JD.com's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of JD.com's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 5.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from JD.com Company Filings, last reported 3 months ago.

NasdaqGS:JD Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 80,124.31 19,470.10 39,169.81
2018-06-30 73,392.78 21,675.72 47,986.42
2018-03-31 68,944.44 20,741.27 47,148.11
2017-12-31 52,388.70 23,807.48 34,276.18
2017-09-30 51,825.53 27,905.07 37,669.45
2017-06-30 50,654.43 29,713.95 40,594.77
2017-03-31 43,070.15 33,701.45 44,870.12
2016-12-31 41,219.78 20,258.79 22,115.04
2016-09-30 42,315.60 23,945.90 37,164.69
2016-06-30 46,108.28 23,286.95 39,731.75
2016-03-31 36,603.05 11,465.50 31,107.15
2015-12-31 30,720.87 6,373.75 20,644.35
2015-09-30 36,761.80 3,488.47 21,571.35
2015-06-30 36,712.28 1,330.97 23,808.89
2015-03-31 37,036.16 0.00 26,359.92
2014-12-31 37,498.07 1,890.77 29,243.24
2014-09-30 37,856.48 2,842.46 31,746.68
2014-06-30 37,835.66 2,842.59 31,483.11
2014-03-31 9,239.83 932.83 12,735.95
2013-12-31 9,239.83 932.83 12,735.95
2013-09-30 9,297.85 0.00 12,337.11
2012-12-31 6,402.56 867.40 8,272.26
  • JD.com's level of debt (24.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.1% vs 24.3% today).
  • Debt is well covered by operating cash flow (83.2%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.1x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess JD.com's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. JD.com has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

JD Dividends

 What is JD.com's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from JD.com dividends. Estimated to be 0% next year.
If you bought $2,000 of JD.com shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate JD.com's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate JD.com's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:JD Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 38 Analyst Estimates (S&P Global) See Below
Global Online Retail Industry Average Dividend Yield Market Cap Weighted Average of 20 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1986 Stocks 2.7%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:JD Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 0.00 1.00
2021-12-31 0.00 1.00
2020-12-31 0.00 6.00
2019-12-31 0.00 7.00
2018-12-31 0.00 8.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as JD.com has not reported any payouts.
  • Unable to verify if JD.com's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of JD.com's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as JD.com has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of JD.com's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess JD.com's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can JD.com afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. JD.com has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

JD Management

 What is the CEO of JD.com's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Richard Liu
AGE 45
CEO Bio

Mr. Qiangdong Liu, also known as Richard, founded JD.com, Inc. in 2004 and since then has been its Chairman and Chief Executive Officer. He is a Non-Executive Director of Farfetch UK Limited since June 22, 2017. In June 1998, Mr. Liu started his own business in Beijing, which was mainly engaged in the distribution of magneto-optical products. In January 2004, Mr. Liu launched his first online retail website. In December 2011, Mr. Liu received the prestigious award “2011 China Economic Person of the Year” from CCTV, China’s largest nationwide television network. Mr. Liu has received numerous other awards for his achievements in the e-commerce industry in China, such as “2011 Chinese Business Leader” and Fortune China’s “2012 Chinese Businessman.” Mr. Liu received a bachelor’s degree in sociology from Renmin University of China in Beijing and an EMBA degree from the China Europe International Business School.

CEO Compensation
  • Insufficient data for Richard to compare compensation growth.
  • Insufficient data for Richard to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the JD.com management team in years:

5.3
Average Tenure
46.5
Average Age
  • The average tenure for the JD.com management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Richard Liu

TITLE
Founder
AGE
45

Sidney Huang

TITLE
Chief Financial Officer
AGE
53
TENURE
5.3 yrs

Chen Zhang

TITLE
Chief Technology Officer
AGE
54
TENURE
3.2 yrs

Ruiyu Li

TITLE
Senior Director of Investor Relations

Rain Long

TITLE
Chief Human Resources Officer & General Counsel
AGE
42
TENURE
6.4 yrs

Ye Lan

TITLE
Chief Public Affairs Officer
AGE
48
TENURE
3.4 yrs

Lei Xu

TITLE
Chief Marketing Officer & CEO of JD Mall

Zhenhui Wang

TITLE
Head of Fulfillment Operations

Jianwen Liao

TITLE
Chief Strategy Officer

Shengqiang Chen

TITLE
Chief Executive Officer of JD Finance
AGE
42
TENURE
5.3 yrs
Board of Directors Tenure

Average tenure and age of the JD.com board of directors in years:

4.8
Average Tenure
54
Average Age
  • The tenure for the JD.com board of directors is about average.
Board of Directors

Richard Liu

TITLE
Founder
AGE
45

Ming Huang

TITLE
Independent Director
AGE
54
TENURE
4.8 yrs

Louis Hsieh

TITLE
Independent Director
AGE
54
TENURE
4.7 yrs

Dingbo Xu

TITLE
Director
AGE
55
TENURE
0.7 yrs

Martin Lau

TITLE
Director
AGE
45
TENURE
4.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess JD.com's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. JD.com has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

JD News

External News
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Simply Wall St News

Is JD.com, Inc. (NASDAQ:JD) A Financially Strong Company?

Investors looking for stocks with high market liquidity and little debt on the balance sheet should consider JD.com, Inc. … With a market valuation of US$32b, JD is a safe haven in times of market uncertainty due to its strong balance sheet. … In times of low liquidity in the market, these firms won’t be left high and dry.

Simply Wall St -

What Kind Of Shareholder Appears On The JD.com, Inc.'s (NASDAQ:JD) Shareholder Register?

(NASDAQ:JD) have power over the company. … Generally speaking, as a company grows, institutions will increase their ownership. … Our analysis of the ownership of the company, below, shows that.

Simply Wall St -

Should JDcom Inc (NASDAQ:JD) Focus On Improving This Fundamental Metric?

This article is for those who would like to learn about Return On Equity (ROE). … Our data shows JD.com has a return on equity of 1.4% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Why JDcom Inc (NASDAQ:JD) Could Be Worth Watching

received a lot of attention from a substantial price movement on the NasdaqGS over the last few months, increasing to $36.92 at one point, and dropping to the lows of $21.76. … A question to answer is whether JD.com's current trading price of $21.98 reflective of the actual value of the? … Let’s take a look at JD.com’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Why JDcom Inc (NASDAQ:JD) Is A Financially Healthy Company

Investors looking for stocks with high market liquidity and little debt on the balance sheet should consider JDcom Inc (NASDAQ:JD). … With a market valuation of US$46.51b, JD is a safe haven in times of market uncertainty due to its strong balance sheet. … These companies are resilient in times of low liquidity and are relatively unimpacted by interest rate hikes.

Simply Wall St -

JDcom Inc (NASDAQ:JD): Time For A Financial Health Check

the key to extending previous success is in the health of the company’s financials. … This article will examine JD.com’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth … Note that this information is centred entirely on financial health and is a high-level overview, so I encourage you to look further

Simply Wall St -

Estimating The Fair Value Of JDcom Inc. (NASDAQ:JD)

Today, I will calculate the stock's intrinsic value by estimating the company's future cash flows and discounting them to their present value. … 5-year cash flow estimate 2018 2019 2020 2021 2022 Levered FCF (CN¥, Millions) CN¥11,827.93 CN¥18,382.77 CN¥21,437.25 CN¥36,356.33 CN¥36,593.81 Source Analyst x4 Analyst x8 Analyst x8 Analyst x3 Analyst x4 Present Value Discounted @ 13.08% CN¥10,459.38 CN¥14,374.92 CN¥14,823.85 CN¥22,231.52 CN¥19,787.65 Present Value of 5-year Cash Flow (PVCF)= CN¥81,677 After calculating the present value of future cash flows in the intial 5-year period we need to calculate the Terminal Value, which accounts for all the future cash flows beyond the first stage. … Terminal Value (TV) = FCF2022 × (1 + g) ÷ (r – g) = CN¥36,594 × (1 + 2.9%) ÷ (13.1% – 2.9%) = CN¥371,737 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = CN¥371,737 / ( 1 + 13.1%)5 = CN¥201,012 The total value is the sum of cash flows for the next five years and the discounted terminal value, which results in the Total Equity Value, which in this case is $282,689.

Simply Wall St -

Should You Buy JDcom Inc. (NASDAQ:JD) Now?

This means that the opportunity to buy JD.com at a good price has disappeared! … Buying a great company with a robust outlook at a cheap price is always a good investment, so let’s also take a look at the company's future expectations. … JD’s optimistic future growth appears to have been factored into the current share price, with shares trading above its fair value.

Simply Wall St -

Is March The Month To Buy JDcom Inc. (NASDAQ:JD)?

JD.com is poised for extremely high earnings growth in the near future. … JD is trading at a very high price-to-earnings (PE) ratio of 3466.32x, meaning JD.com is overvalued based on current earnings compared to the online retail industry average of 45.43x , and overvalued compared to the US market average ratio of 18.68x. … So, when we include the growth factor in our analysis, JD.com appears highly overvalued , based on fundamental analysis.

Simply Wall St -

What Do Expectations Tell Us About JDcom Inc.'s (NASDAQ:JD) Margins In The Next Few Years?

To help investors get a top level understanding, I will try to evaluate JD.com's margin behaviour to assist in analysing the revenue and cost anatomy behind the earnings expectations for the future and the impact it has on shareholder returns relative to the wider industry. … Margin Calculation for JD Profit Margin = Net Income ÷ Revenue ∴ Profit Margin = 116.82 Million ÷ 362.33 Billion = 0.032% JD.com's margin has contracted in the past five years, with a 35.42% average growth in revenue outstripping a 6.63% average growth in net income, which suggests that a smaller percentage of revenue falls to the bottom line despite the fact revenue has increased over the previous 5 years. … Using JD.com's margin expectations as a way to understand projections for the future Margins are expected to shift towards expansion, with 17.79% in expected annual revenue growth and a forecasted 38.53% in annual net income growth.

Simply Wall St -

JD Company Info

Map
Description

JD.com, Inc., through its subsidiaries, operates as an e-commerce company and retail infrastructure service provider in the People’s Republic of China. It operates in two segments, JD Mall and New Businesses. The company offers home appliances; mobile handsets and other digital products; desktop, laptop, and other computers, as well as printers and other office equipment; furniture and household goods; apparel; cosmetics, personal care items, and pet products; women’s shoes, bags, jewelry, and luxury goods; men’s shoes, sports gears, and fitness equipment; automobiles and accessories; mother and childcare products, toys, and instruments; and food, beverage, and fresh produce. It also provides gifts, flowers, and plants; nutritional supplements; books, e-books, music, movie, and other media products; and virtual goods, such as online travel agency, attraction tickets, and prepaid phone and game cards, as well as consumer electronic products. In addition, the company offers an online marketplace for third-party sellers to sell products to customers; and transaction processing and billing, value-added fulfillment, and other services. Further, it provides online marketing services for suppliers, merchants, and other partners; logistics services for various industries; consumer financing services to individual customers; and supply chain financing services to suppliers and merchants. Additionally, the company offers online-to-offline solutions for customers and offline retailers, as well as online and in-person payment options and customer services. JD.com, Inc. offers its products through its Website jd.com and mobile apps, as well as directly to customers. As of December 31, 2017, JD.com, Inc. operated 7 fulfillment centers and 486 warehouses in 78 cities covering various counties and districts. The company has strategic cooperation agreement with Tencent Holdings Limited and Vipshop Holdings Ltd. JD.com, Inc. is headquartered in Beijing, China.

Details
Name: JD.com, Inc.
JD
Exchange: NasdaqGS
Founded:
$32,031,775,620
1,446,783,000
Website: http://www.jd.com
Address: JD.com, Inc.
Building A,
20th Floor,
Beijing,
101111,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS JD ADS EACH REPR 2 SHS A Nasdaq Global Select US USD 22. May 2014
DB 013A ADS EACH REPR 2 SHS A Deutsche Boerse AG DE EUR 22. May 2014
WBAG JD ADS EACH REPR 2 SHS A Wiener Boerse AG AT EUR 22. May 2014
BMV JD N ADS EACH REPR 2 SHS A Bolsa Mexicana de Valores MX MXN 22. May 2014
Number of employees
Current staff
Staff numbers
175,366
JD.com employees.
Industry
Internet and Direct Marketing Retail
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/01/19 00:40
End of day share price update: 2019/01/18 00:00
Last estimates confirmation: 2019/01/16
Last earnings filing: 2018/11/19
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.