JD.com (JD) Net Margin (2013 - 2026)
JD.com (JD) posted quarterly Net Margin of 2.34% for Q1 2026, down 190.0% year-over-year from 2.6% in Q1 2025, and up 403.55% quarter-over-quarter from 0.77% in Q4 2025.
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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 2.34% the latest figure, recorded in Q1 2026.
- In Q1 2026, Net Margin fell 190.0% year-over-year to 2.34%; the TTM figure through Mar 2026 stood at 0.36% (down 275.0% YoY), while the FY2025 annual figure was 1.5%, down 207.0% from the prior year.
- Net Margin advanced to 2.34% in Q1 2026 per JD's latest filing, from 0.77% in the prior quarter.
- Across five years, Net Margin topped out at 5.06% in Q3 2024 and bottomed at 1.25% in Q1 2022.
- Historically, Net Margin has averaged 1.83% across 5 years, with a median of 2.34% in 2026.
- Annual changes were most pronounced in 2023 — Net Margin surged 383 bps — and 2025, when it sank 506 bps.
- JD.com's Net Margin stood at 1.03% in 2022, then jumped by 167 bps to 2.75% in 2023, then gained by 18 bps to 3.25% in 2024, then slumped by 124 bps to 0.77% in 2025, then soared by 404 bps to 2.34% in 2026.
- Business Quant data shows JD's Net Margin at 2.34% in Q1 2026, 0.77% in Q4 2025, and 0.0% in Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,746.20 Bn | 2,623.21 Bn | 198.88 Bn | 24.31% |
| 2 | PDD Holdings | 116.28 Bn | -48,010.13 Bn | 9.45 Bn | 24.19% |
| 3 | DoorDash | 98.95 Bn | 93.61 Bn | 2.35 Bn | 4.47% |
| 4 | Mercadolibre | 98.90 Bn | 83.71 Bn | 4.16 Bn | 4.58% |
| 5 | Sea | 67.51 Bn | 59.11 Bn | 3.55 Bn | 11.53% |
| 6 | Ebay | 46.90 Bn | 43.59 Bn | 2.30 Bn | 17.55% |
| 7 | JD.com | 39.64 Bn | 7.09 Bn | 16.50 Bn | 1.85% |
| 8 | Coupang | 28.35 Bn | 22.24 Bn | 2.49 Bn | -6.44% |
| 9 | Wayfair | 12.44 Bn | 11.30 Bn | 1.05 Bn | -0.03% |
| 10 | Maplebear | 11.73 Bn | 10.88 Bn | 751.00 Mn | 10.45% |
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 | 0.29% |
| Sep 30, 2024 | 3.88% |
| Jun 30, 2024 | 3.59% |
| Mar 31, 2024 | 0.09% |
| Dec 31, 2023 | -0.48% |
| Sep 30, 2023 | 0.07% |
| Jun 30, 2023 | 0.06% |
| 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% |