JD.com (JD) Operating Expenses (2013 - 2026)
JD.com (JD) posted quarterly Operating Expenses of -$1.5 billion for Q1 2026, down 55.97% year-over-year from -$3.4 billion in Q1 2025, and up 6.37% quarter-over-quarter from -$1.6 billion in Q4 2025.
JD.com (JD) Operating Expenses (2013 - 2026) Analysis & Trends
JD.com (JD) has reported Operating Expenses for 14 consecutive years, with -$1.5 billion the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses fell 55.97% year-over-year to -$1.5 billion; the TTM figure through Mar 2026 stood at -$5.5 billion (down 43.4% YoY), while the FY2025 annual figure was $4.6 billion, up 33.03% from the prior year.
- Operating Expenses climbed to -$1.5 billion in Q1 2026 per JD's latest filing, from -$1.6 billion in the prior quarter.
- Across five years, Operating Expenses topped out at -$833.0 million in Q1 2024 and bottomed at -$1.6 billion in Q4 2025.
- Historically, Operating Expenses has averaged -$1.1 billion across 5 years, with a median of -$985.1 million in 2022.
- Annual changes were most pronounced in 2024 — Operating Expenses increased 24.69% — and 2026, when it sank 55.97%.
- JD.com's Operating Expenses stood at -$1.2 billion in 2022, then declined by 19.64% to -$1.4 billion in 2023, then grew by 24.69% to -$1.0 billion in 2024, then slumped by 54.11% to -$1.6 billion in 2025, then climbed by 6.37% to -$1.5 billion in 2026.
- Business Quant data shows JD's Operating Expenses at -$1.5 billion in Q1 2026, -$1.6 billion in Q4 2025, and -$1.2 billion in Q3 2025.
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| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,924.97 Bn | 2,801.98 Bn | 198.88 Bn | 330.81 Bn |
| 2 | PDD Holdings | 506.99 Bn | 447.44 Bn | 9.83 Bn | -5.87 Bn |
| 3 | Mercadolibre | 97.49 Bn | 82.30 Bn | 4.16 Bn | 3.48 Bn |
| 4 | DoorDash | 92.70 Bn | 87.35 Bn | 2.35 Bn | 4.30 Bn |
| 5 | JD.com | 87.54 Bn | 58.36 Bn | 7.66 Bn | -1.51 Bn |
| 6 | Sea | 78.10 Bn | 69.58 Bn | 3.15 Bn | -2.55 Bn |
| 7 | Ebay | 47.48 Bn | 44.17 Bn | 2.30 Bn | 1.63 Bn |
| 8 | Coupang | 29.78 Bn | 23.67 Bn | 2.49 Bn | 9.41 Bn |
| 9 | Zkh | 16.08 Bn | 16.08 Bn | 51.11 Mn | -23.28 Mn |
| 10 | Wayfair | 13.68 Bn | 12.53 Bn | 1.05 Bn | 950.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -1.51 Bn |
| Dec 31, 2025 | -1.61 Bn |
| Sep 30, 2025 | -1.21 Bn |
| Jun 30, 2025 | -1.18 Bn |
| Mar 31, 2025 | -967.78 Mn |
| Dec 31, 2024 | -1.05 Bn |
| Sep 30, 2024 | -957.00 Mn |
| Jun 30, 2024 | -873.00 Mn |
| Mar 31, 2024 | -833.00 Mn |
| Dec 31, 2023 | -1.39 Bn |
| Sep 30, 2023 | -866.54 Mn |
| Jun 30, 2023 | -918.04 Mn |
| Mar 31, 2023 | -974.00 Mn |
| Dec 31, 2022 | -1.16 Bn |
| Sep 30, 2022 | -985.10 Mn |
| Jun 30, 2022 | -963.11 Mn |
| Mar 31, 2022 | -1.08 Bn |
| Dec 31, 2021 | -1.23 Bn |
| Sep 30, 2021 | -1.09 Bn |
| Jun 30, 2021 | -967.84 Mn |