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

Vipshop Holdings has reported Cost of Revenue for 15 years, with the latest figure at $3.6 billion in Q4 2025.

• For the quarter ending Q4 2025, Cost of Revenue rose 2.07% year-over-year to $3.6 billion; the trailing twelve-month figure through Dec 2025 stood at $11.4 billion (down 0.56% YoY), and the FY2025 full-year result was $11.6 billion, up 2.46% from the prior year.
• Cost of Revenue for Q4 2025 stood at $3.6 billion, up from $2.3 billion in the prior quarter.
• The five-year high for Cost of Revenue was $4.3 billion in Q4 2021, with the low at $2.2 billion in Q3 2024.
• Average Cost of Revenue over 5 years is $3.1 billion, with a median of $3.1 billion recorded in 2021.
• Year-over-year, Cost of Revenue jumped 62.4% in 2021 and slipped 23.62% in 2022.
• Tracing VIPS's Cost of Revenue over 5 years: stood at $4.3 billion in 2021, then dropped by 16.24% to $3.6 billion in 2022, then increased by 3.34% to $3.7 billion in 2023, then retreated by 5.84% to $3.5 billion in 2024, then climbed by 2.07% to $3.6 billion in 2025.
• The last three Cost of Revenue figures came in at $3.6 billion (Q4 2025), $2.3 billion (Q3 2025), and $2.8 billion (Q2 2025), per Business Quant data.

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