JD.com (JD) Operating Margin (2013 - 2026)
JD.com's (JD) quarterly Operating Margin came in at 1.26% in Q2 2026, down 21.0% year-over-year from 1.6% in Q2 2025, and up 4.59% quarter-over-quarter from 1.21% in Q1 2026.
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Analysis
JD.com (JD) Operating Margin (2013 - 2026) Analysis & Trends
JD.com (JD) has reported Operating Margin for 14 consecutive years, with 1.26% the latest figure, recorded in Q2 2026.
- On a quarterly basis, Operating Margin fell 21.0% year-over-year to 1.26% in Q2 2026; TTM through Jun 2026 was 0.66%, a 213.0% decrease from a year earlier, with the FY2025 full-year figure at 0.21%, down 313.0% from the prior year.
- Operating Margin was 1.26% for Q2 2026 at JD.com, up from 1.21% in the prior quarter.
- Over five years, Operating Margin peaked at 3.73% in Q3 2024 and troughed at 1.66% in Q4 2025.
- A 5-year average of 1.89% and a median of 1.81% in 2022 frame the typical range for Operating Margin.
- Across the five-year window, Operating Margin jumped 179 bps in 2024 and plunged 411 bps in 2025, its largest moves.
- Over 5 years, Operating Margin stood at 1.64% in 2022, then plunged by 60 bps to 0.66% in 2023, then soared by 270 bps to 2.45% in 2024, then tumbled by 168 bps to 1.66% in 2025, then surged by 176 bps to 1.26% in 2026.
- The last three Operating Margin figures came in at 1.26% (Q2 2026), 1.21% (Q1 2026), and 1.66% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,735.76 Bn | 2,612.77 Bn | 198.88 Bn | 13.43% |
| 2 | JD.com | 32.66 Bn | 9.40 Bn | 16.50 Bn | 1.26% |
| 3 | Coupang | 25.61 Bn | 19.50 Bn | 2.49 Bn | -6.28% |
| 4 | Wayfair | 13.93 Bn | 12.79 Bn | 1.05 Bn | 2.96% |
| 5 | GigaCloud Technology | 3.80 Bn | 3.42 Bn | 105.56 Mn | 11.54% |
| 6 | Pattern | 3.04 Bn | 2.69 Bn | 384.36 Mn | 4.05% |
| 7 | Yunji | 1.88 Bn | 1.86 Bn | - | - |
| 8 | Revolve | 1.47 Bn | 1.13 Bn | 196.67 Mn | 6.36% |
| 9 | ATRenew | 632.36 Mn | 371.23 Mn | -705.59 Mn | 43.00% |
| 10 | Stitch Fix | 398.30 Mn | 211.49 Mn | 148.84 Mn | -1.18% |
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% |
API Access
JD.com Operating Margin 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-margin&ticker=JD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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-margin&ticker=JD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();