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.
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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,942.95 Bn | 2,819.97 Bn | 198.88 Bn | 24.31% |
| 2 | PDD Holdings | 508.05 Bn | 448.51 Bn | 9.83 Bn | 19.81% |
| 3 | Mercadolibre | 97.02 Bn | 81.83 Bn | 4.16 Bn | 4.58% |
| 4 | DoorDash | 93.69 Bn | 88.35 Bn | 2.35 Bn | 4.47% |
| 5 | JD.com | 87.61 Bn | 58.43 Bn | 7.66 Bn | 1.62% |
| 6 | Sea | 78.10 Bn | 69.58 Bn | 3.15 Bn | 12.24% |
| 7 | Ebay | 47.48 Bn | 44.17 Bn | 2.30 Bn | -0.06% |
| 8 | Coupang | 29.69 Bn | 23.58 Bn | 2.49 Bn | -6.44% |
| 9 | Zkh | 15.94 Bn | 15.94 Bn | 51.11 Mn | 0.00% |
| 10 | Wayfair | 13.68 Bn | 12.54 Bn | 1.05 Bn | -0.03% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 2.34% |
| Dec 31, 2025 | -0.77% |
| Sep 30, 2025 | 0.00% |
| Jun 30, 2025 | 0.00% |
| Mar 31, 2025 | 4.24% |
| Dec 31, 2024 | 3.25% |
| Sep 30, 2024 | 5.06% |
| Jun 30, 2024 | 0.00% |
| Mar 31, 2024 | 3.42% |
| Dec 31, 2023 | 2.75% |
| Sep 30, 2023 | 4.29% |
| Jun 30, 2023 | 0.00% |
| Mar 31, 2023 | 2.58% |
| Dec 31, 2022 | 1.03% |
| Sep 30, 2022 | 2.45% |
| Jun 30, 2022 | 1.63% |
| Mar 31, 2022 | -1.25% |
| Dec 31, 2021 | -1.87% |
| Sep 30, 2021 | -1.28% |
| Jun 30, 2021 | 0.31% |