Vipshop Holdings (VIPS) Cost of Revenue (2011 - 2026)

Vipshop Holdings' Cost of Revenue history runs 16 years deep, the most recent figure standing at $2.9 billion for Q1 2026.

• In Q1 2026, Cost of Revenue rose 4.64% year-over-year to $2.9 billion; the TTM figure through Mar 2026 stood at $11.6 billion (up 1.81% YoY), while the FY2025 annual figure was $11.6 billion, up 2.46% from the prior year.
• Cost of Revenue was $2.9 billion for Q1 2026 at Vipshop Holdings, down from $3.6 billion in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $3.7 billion in Q4 2023 to a low of $2.2 billion in Q3 2024.
• Historically, Cost of Revenue has averaged $3.0 billion across 5 years, with a median of $2.9 billion in 2022.
• The sharpest annual moves came in 2022 and 2026: Cost of Revenue retreated 23.62% in 2022, then grew 4.64% in 2026.
• A 5-year view of Cost of Revenue shows it stood at $3.6 billion in 2022, then grew by 3.34% to $3.7 billion in 2023, then fell by 5.84% to $3.5 billion in 2024, then advanced by 2.07% to $3.6 billion in 2025, then slipped by 18.67% to $2.9 billion in 2026.
• The last three Cost of Revenue figures came in at $2.9 billion (Q1 2026), $3.6 billion (Q4 2025), and $2.3 billion (Q3 2025), per Business Quant data.