JD.com (JD) Net Margin (2013 - 2026)
JD.com's (JD) quarterly Net Margin came in at 1.85% in Q2 2026, down 75.0% year-over-year from 7.39% in Q2 2025, and up 14.27% quarter-over-quarter from 1.62% in Q1 2026.
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Analysis
JD.com (JD) Net Margin (2013 - 2026) Analysis & Trends
JD.com (JD) has reported Net Margin for 14 consecutive years, with 1.85% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Net Margin fell 75.0% year-over-year to 1.85% in Q2 2026; TTM through Jun 2026 was 1.61%, a 167.0% decrease from a year earlier, with the FY2025 full-year figure at 1.5%, down 207.0% from the prior year.
- Net Margin was 1.85% for Q2 2026 at JD.com, up from 1.62% in the prior quarter.
- Over five years, Net Margin peaked at 3.88% in Q3 2024 and troughed at 1.25% in Q1 2022.
- A 5-year average of 1.93% and a median of 2.38% in 2023 frame the typical range for Net Margin.
- Across the five-year window, Net Margin jumped 383 bps in 2023 and plunged 361 bps in 2025, its largest moves.
- Over 5 years, Net Margin stood at 1.03% in 2022, then rose by 7 bps to 1.11% in 2023, then jumped by 157 bps to 2.84% in 2024, then sank by 127 bps to 0.77% in 2025, then surged by 340 bps to 1.85% in 2026.
- The last three Net Margin figures came in at 1.85% (Q2 2026), 1.62% (Q1 2026), and 0.77% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,735.76 Bn | 2,612.77 Bn | 198.88 Bn | 24.31% |
| 2 | JD.com | 32.66 Bn | 9.40 Bn | 16.50 Bn | 1.85% |
| 3 | Coupang | 25.61 Bn | 19.50 Bn | 2.49 Bn | -6.44% |
| 4 | Wayfair | 13.93 Bn | 12.79 Bn | 1.05 Bn | -0.03% |
| 5 | GigaCloud Technology | 3.80 Bn | 3.42 Bn | 105.56 Mn | 10.28% |
| 6 | Pattern | 3.04 Bn | 2.69 Bn | 384.36 Mn | 3.14% |
| 7 | Yunji | 1.88 Bn | 1.86 Bn | - | - |
| 8 | Revolve | 1.47 Bn | 1.13 Bn | 196.67 Mn | 5.36% |
| 9 | ATRenew | 632.36 Mn | 371.23 Mn | -705.59 Mn | 50.07% |
| 10 | Stitch Fix | 398.30 Mn | 211.49 Mn | 148.84 Mn | -0.45% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.85% |
| Mar 31, 2026 | 1.62% |
| Dec 31, 2025 | -0.77% |
| Sep 30, 2025 | 2.34% |
| Jun 30, 2025 | 2.60% |
| Mar 31, 2025 | 3.62% |
| Dec 31, 2024 | 2.84% |
| Sep 30, 2024 | 3.88% |
| Jun 30, 2024 | 3.59% |
| Mar 31, 2024 | 2.74% |
| Dec 31, 2023 | 1.11% |
| Sep 30, 2023 | 2.67% |
| Jun 30, 2023 | 2.42% |
| Mar 31, 2023 | 2.58% |
| Dec 31, 2022 | 1.03% |
| Sep 30, 2022 | 0.98% |
| Jun 30, 2022 | 0.86% |
| Mar 31, 2022 | -1.25% |
| Dec 31, 2021 | -1.87% |
| Sep 30, 2021 | -0.42% |
API Access
JD.com Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=JD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "JD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=JD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();