Baozun (BZUN) Gross Margin (2014 - 2026)
Baozun (BZUN) posted quarterly Gross Margin of 70.53% for Q1 2026, down 297.0% year-over-year from 35.8% in Q1 2025, and down 6.23% quarter-over-quarter from 75.21% in Q4 2025.
Baozun (BZUN) Gross Margin (2014 - 2026) Analysis & Trends
Baozun's Gross Margin history runs 13 years deep, the most recent figure standing at 70.53% for Q1 2026.
- In Q1 2026, Gross Margin fell 297.0% year-over-year to 70.53%; the TTM figure through Mar 2026 stood at 73.13% (down 21.0% YoY), while the FY2025 annual figure was 72.11%, down 164.0% from the prior year.
- Gross Margin for Q1 2026 stood at 70.53%, down from 75.21% in the prior quarter.
- The five-year high for Gross Margin was 76.18% in Q3 2022, with the low at 69.98% in Q1 2022.
- The 5-year median for Gross Margin is 73.46% (2023), against an average of 73.25%.
- The sharpest annual moves came in 2022 and 2026: Gross Margin jumped 1068 bps in 2022, then tumbled 297 bps in 2026.
- Baozun's Gross Margin stood at 74.8% in 2022, then fell by 2 bps to 73.46% in 2023, then rose by 1 bps to 74.16% in 2024, then gained by 1 bps to 75.21% in 2025, then decreased by 6 bps to 70.53% in 2026.
- Business Quant data shows BZUN's Gross Margin at 70.53% in Q1 2026, 75.21% in Q4 2025, and 74.97% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,931.64 Bn | 2,808.66 Bn | 198.88 Bn | 52.05% |
| 2 | PDD Holdings | 506.17 Bn | 446.63 Bn | 9.83 Bn | 55.49% |
| 3 | Mercadolibre | 98.29 Bn | 83.09 Bn | 4.16 Bn | 40.90% |
| 4 | DoorDash | 92.11 Bn | 86.76 Bn | 2.35 Bn | 52.69% |
| 5 | JD.com | 87.50 Bn | 58.32 Bn | 7.66 Bn | 16.73% |
| 6 | Sea | 78.22 Bn | 69.70 Bn | 3.15 Bn | 44.32% |
| 7 | Ebay | 47.18 Bn | 43.87 Bn | 2.30 Bn | 73.45% |
| 8 | Coupang | 29.74 Bn | 23.63 Bn | 2.49 Bn | 28.16% |
| 9 | Zkh | 16.36 Bn | 16.36 Bn | 51.11 Mn | 16.68% |
| 10 | Baozun | 507.26 Mn | 89.06 Mn | 243.45 Mn | 70.53% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 70.53% |
| Dec 31, 2025 | 75.21% |
| Sep 30, 2025 | 74.97% |
| Jun 30, 2025 | 71.43% |
| Mar 31, 2025 | 73.49% |
| Dec 31, 2024 | 74.16% |
| Sep 30, 2024 | 72.62% |
| Jun 30, 2024 | 72.83% |
| Mar 31, 2024 | 76.13% |
| Dec 31, 2023 | 73.46% |
| Sep 30, 2023 | 73.70% |
| Jun 30, 2023 | 70.90% |
| Mar 31, 2023 | 73.24% |
| Dec 31, 2022 | 74.80% |
| Sep 30, 2022 | 76.18% |
| Jun 30, 2022 | 71.62% |
| Mar 31, 2022 | 69.98% |
| Dec 31, 2021 | 67.11% |
| Sep 30, 2021 | 68.61% |
| Jun 30, 2021 | 64.65% |