JD.com (JD) Operating Margin (2013 - 2026)
JD.com (JD) posted quarterly Operating Margin of 1.21% for Q1 2026, down 229.0% year-over-year from 0.93% in Q1 2025, and up 172.68% quarter-over-quarter from 1.66% in Q4 2025.
JD.com (JD) Operating Margin (2013 - 2026) Analysis & Trends
JD.com (JD) has reported Operating Margin for 14 consecutive years, with 1.21% the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Margin fell 229.0% year-over-year to 1.21%; the TTM figure through Mar 2026 stood at 0.29% (down 377.0% YoY), while the FY2025 annual figure was 0.21%, down 313.0% from the prior year.
- Operating Margin climbed to 1.21% in Q1 2026 per JD's latest filing, from 1.66% in the prior quarter.
- Across five years, Operating Margin topped out at 4.63% in Q3 2024 and bottomed at 1.66% in Q4 2025.
- Historically, Operating Margin has averaged 1.98% across 5 years, with a median of 2.45% in 2024.
- Annual changes were most pronounced in 2022 — Operating Margin jumped 241 bps — and 2025, when it slumped 498 bps.
- JD.com's Operating Margin stood at 1.64% in 2022, then plunged by 60 bps to 0.66% in 2023, then surged by 270 bps to 2.45% in 2024, then tumbled by 168 bps to 1.66% in 2025, then soared by 173 bps to 1.21% in 2026.
- Business Quant data shows JD's Operating Margin at 1.21% in Q1 2026, 1.66% in Q4 2025, and 0.35% in Q3 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,942.95 Bn | 2,819.97 Bn | 198.88 Bn | 13.43% |
| 2 | PDD Holdings | 508.05 Bn | 448.51 Bn | 9.83 Bn | 22.37% |
| 3 | Mercadolibre | 97.02 Bn | 81.83 Bn | 4.16 Bn | 6.72% |
| 4 | DoorDash | 93.69 Bn | 88.35 Bn | 2.35 Bn | 3.50% |
| 5 | JD.com | 87.61 Bn | 58.43 Bn | 7.66 Bn | 1.21% |
| 6 | Sea | 78.10 Bn | 69.58 Bn | 3.15 Bn | 80.28% |
| 7 | Ebay | 47.48 Bn | 44.17 Bn | 2.30 Bn | 21.57% |
| 8 | Coupang | 29.69 Bn | 23.58 Bn | 2.49 Bn | -6.28% |
| 9 | Zkh | 15.94 Bn | 15.94 Bn | 51.11 Mn | -1.06% |
| 10 | Wayfair | 13.68 Bn | 12.54 Bn | 1.05 Bn | 2.96% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 1.21% |
| Dec 31, 2025 | -1.66% |
| Sep 30, 2025 | -0.35% |
| Jun 30, 2025 | -0.24% |
| Mar 31, 2025 | 3.50% |
| Dec 31, 2024 | 2.45% |
| Sep 30, 2024 | 4.63% |
| Jun 30, 2024 | 3.61% |
| Mar 31, 2024 | 2.96% |
| Dec 31, 2023 | 0.66% |
| Sep 30, 2023 | 3.76% |
| Jun 30, 2023 | 2.87% |
| Mar 31, 2023 | 2.65% |
| Dec 31, 2022 | 1.64% |
| Sep 30, 2022 | 3.58% |
| Jun 30, 2022 | 1.40% |
| Mar 31, 2022 | 1.01% |
| Dec 31, 2021 | -0.14% |
| Sep 30, 2021 | 1.18% |
| Jun 30, 2021 | 0.12% |