JD.com (JD) Gross Margin (2013 - 2026)
JD.com (JD) posted quarterly Gross Margin of 16.73% for Q1 2026, up 86.0% year-over-year from 8.99% in Q1 2025, and up 7.02% quarter-over-quarter from 15.63% in Q4 2025.
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JD.com (JD) Gross Margin (2013 - 2026) Analysis & Trends
JD.com (JD) has reported Gross Margin for 14 consecutive years, with 16.73% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin rose 86.0% year-over-year to 16.73%; the TTM figure through Mar 2026 stood at 16.18% (up 18.0% YoY), while the FY2025 annual figure was 15.61%, down 25.0% from the prior year.
- Gross Margin improved to 16.73% in Q1 2026 per JD's latest filing, from 15.63% in the prior quarter.
- Across five years, Gross Margin topped out at 17.3% in Q3 2024 and bottomed at 13.62% in Q2 2022.
- Historically, Gross Margin has averaged 15.37% across 5 years, with a median of 15.46% in 2022.
- Annual changes were most pronounced in 2022 — Gross Margin slumped 53 bps — and 2024, when it surged 152 bps.
- JD.com's Gross Margin stood at 14.06% in 2022, then advanced by 1 bps to 14.21% in 2023, then rose by 8 bps to 15.31% in 2024, then climbed by 2 bps to 15.63% in 2025, then grew by 7 bps to 16.73% in 2026.
- Business Quant data shows JD's Gross Margin at 16.73% in Q1 2026, 15.63% in Q4 2025, and 16.79% in Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,742.86 Bn | 2,619.88 Bn | 198.88 Bn | 52.05% |
| 2 | PDD Holdings | 116.24 Bn | -48,010.17 Bn | 9.45 Bn | 57.06% |
| 3 | Mercadolibre | 99.45 Bn | 84.25 Bn | 4.16 Bn | 40.90% |
| 4 | DoorDash | 98.02 Bn | 92.67 Bn | 2.35 Bn | 52.69% |
| 5 | Sea | 67.10 Bn | 58.70 Bn | 3.55 Bn | 45.58% |
| 6 | Ebay | 46.73 Bn | 43.42 Bn | 2.30 Bn | 73.45% |
| 7 | JD.com | 39.68 Bn | 7.13 Bn | 16.50 Bn | 16.91% |
| 8 | Coupang | 28.45 Bn | 22.34 Bn | 2.49 Bn | 28.16% |
| 9 | Wayfair | 12.37 Bn | 11.23 Bn | 1.05 Bn | 29.95% |
| 10 | Maplebear | 11.75 Bn | 10.90 Bn | 751.00 Mn | 72.00% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 16.91% |
| Mar 31, 2026 | 16.80% |
| Dec 31, 2025 | 15.63% |
| Sep 30, 2025 | 16.20% |
| Jun 30, 2025 | 15.73% |
| Mar 31, 2025 | 15.89% |
| Dec 31, 2024 | 15.31% |
| Sep 30, 2024 | 16.11% |
| Jun 30, 2024 | 15.54% |
| Mar 31, 2024 | 15.30% |
| Dec 31, 2023 | 14.21% |
| Sep 30, 2023 | 14.92% |
| Jun 30, 2023 | 14.59% |
| Mar 31, 2023 | 14.82% |
| Dec 31, 2022 | 14.06% |
| Sep 30, 2022 | 14.06% |
| Jun 30, 2022 | 13.67% |
| Mar 31, 2022 | 13.96% |
| Dec 31, 2021 | 13.45% |
| Sep 30, 2021 | 13.61% |