JD.com (JD) Operating Expenses (2013 - 2026)
JD.com's (JD) quarterly Operating Expenses came in at -$3.1 billion in Q2 2026, down 42.08% year-over-year from -$5.3 billion in Q2 2025, and up 53.49% quarter-over-quarter from -$6.6 billion in Q1 2026.
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Analysis
JD.com (JD) Operating Expenses (2013 - 2026) Analysis & Trends
JD.com (JD) has reported Operating Expenses for 14 consecutive years, with -$3.1 billion the latest figure, recorded in Q2 2026.
- On a quarterly basis, Operating Expenses fell 42.08% year-over-year to -$3.1 billion in Q2 2026; TTM through Jun 2026 was -$35.2 billion, a 22.06% decrease from a year earlier, with the FY2025 full-year figure at -$20.4 billion, up 3.8% from the prior year.
- Operating Expenses was -$3.1 billion for Q2 2026 at JD.com, up from -$6.6 billion in the prior quarter.
- Over five years, Operating Expenses peaked at -$946.0 million in Q4 2023 and troughed at -$18.1 billion in Q3 2025.
- A 5-year average of -$4.7 billion and a median of -$2.7 billion in 2022 frame the typical range for Operating Expenses.
- Across the five-year window, Operating Expenses climbed 18.52% in 2023 and sank 574.92% in 2024, its largest moves.
- Over 5 years, Operating Expenses stood at -$1.2 billion in 2022, then gained by 18.52% to -$946.0 million in 2023, then slumped by 574.92% to -$6.4 billion in 2024, then fell by 16.26% to -$7.4 billion in 2025, then jumped by 58.72% to -$3.1 billion in 2026.
- The last three Operating Expenses figures came in at -$3.1 billion (Q2 2026), -$6.6 billion (Q1 2026), and -$7.4 billion (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,735.76 Bn | 2,612.77 Bn | 198.88 Bn | 330.81 Bn |
| 2 | JD.com | 32.66 Bn | 9.40 Bn | 16.50 Bn | -3.06 Bn |
| 3 | Coupang | 25.61 Bn | 19.50 Bn | 2.49 Bn | 9.41 Bn |
| 4 | Wayfair | 13.93 Bn | 12.79 Bn | 1.05 Bn | 950.00 Mn |
| 5 | GigaCloud Technology | 3.80 Bn | 3.42 Bn | 105.56 Mn | 58.05 Mn |
| 6 | Pattern | 3.04 Bn | 2.69 Bn | 384.36 Mn | 841.24 Mn |
| 7 | Yunji | 1.88 Bn | 1.86 Bn | - | - |
| 8 | Revolve | 1.47 Bn | 1.13 Bn | 196.67 Mn | 174.57 Mn |
| 9 | ATRenew | 632.36 Mn | 371.23 Mn | -705.59 Mn | -25.40 Mn |
| 10 | Stitch Fix | 398.30 Mn | 211.49 Mn | 148.84 Mn | 152.85 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -3.06 Bn |
| Mar 31, 2026 | -6.59 Bn |
| Dec 31, 2025 | -7.42 Bn |
| Sep 30, 2025 | -18.12 Bn |
| Jun 30, 2025 | -2.16 Bn |
| Mar 31, 2025 | -5.32 Bn |
| Dec 31, 2024 | -6.38 Bn |
| Sep 30, 2024 | -14.97 Bn |
| Jun 30, 2024 | -1.70 Bn |
| Mar 31, 2024 | -4.67 Bn |
| Dec 31, 2023 | -946.00 Mn |
| Sep 30, 2023 | -2.66 Bn |
| Jun 30, 2023 | -1.81 Bn |
| Mar 31, 2023 | -974.00 Mn |
| Dec 31, 2022 | -1.16 Bn |
| Sep 30, 2022 | -2.80 Bn |
| Jun 30, 2022 | -1.97 Bn |
| Mar 31, 2022 | -1.08 Bn |
| Dec 31, 2021 | -1.23 Bn |
| Sep 30, 2021 | -3.11 Bn |
API Access
JD.com Operating Expenses 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=operating-expenses&ticker=JD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=JD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();