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.
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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.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,746.20 Bn | 2,623.21 Bn | 198.88 Bn | 13.43% |
| 2 | PDD Holdings | 116.28 Bn | -48,010.13 Bn | 9.45 Bn | 24.71% |
| 3 | DoorDash | 98.95 Bn | 93.61 Bn | 2.35 Bn | 3.50% |
| 4 | Mercadolibre | 98.90 Bn | 83.71 Bn | 4.16 Bn | 6.72% |
| 5 | Sea | 67.51 Bn | 59.11 Bn | 3.55 Bn | 82.81% |
| 6 | Ebay | 46.90 Bn | 43.59 Bn | 2.30 Bn | 21.57% |
| 7 | JD.com | 39.64 Bn | 7.09 Bn | 16.50 Bn | 1.26% |
| 8 | Coupang | 28.35 Bn | 22.24 Bn | 2.49 Bn | -6.28% |
| 9 | Wayfair | 12.44 Bn | 11.30 Bn | 1.05 Bn | 2.96% |
| 10 | Maplebear | 11.73 Bn | 10.88 Bn | 751.00 Mn | 13.71% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.26% |
| Mar 31, 2026 | 1.21% |
| Dec 31, 2025 | -1.66% |
| Sep 30, 2025 | 0.90% |
| Jun 30, 2025 | 1.47% |
| Mar 31, 2025 | 3.50% |
| Dec 31, 2024 | 2.45% |
| Sep 30, 2024 | 3.73% |
| Jun 30, 2024 | 3.30% |
| Mar 31, 2024 | 2.96% |
| Dec 31, 2023 | 0.66% |
| Sep 30, 2023 | 3.08% |
| Jun 30, 2023 | 2.77% |
| Mar 31, 2023 | 2.65% |
| Dec 31, 2022 | 1.64% |
| Sep 30, 2022 | 1.98% |
| Jun 30, 2022 | 1.22% |
| Mar 31, 2022 | 1.01% |
| Dec 31, 2021 | -0.14% |
| Sep 30, 2021 | 0.67% |