Vipshop Holdings (VIPS) Gross Margin (2011 - 2026)
Vipshop Holdings' quarterly Gross Margin came in at 24.86% in Q4 2025, up 17.0% year-on-year from 21.25% in Q4 2024, and down 1.94% quarter-over-quarter from 25.35% in Q3 2025.
Vipshop Holdings has reported Gross Margin for 15 years, with the latest figure at 24.86% in Q4 2025.
- For the quarter ending Q4 2025, Gross Margin rose 17.0% year-over-year to 24.86%; the trailing twelve-month figure through Dec 2025 stood at 25.14% (down 15.0% YoY), and the FY2025 full-year result was 23.12%, down 37.0% from the prior year.
- Gross Margin for Q4 2025 stood at 24.86%, down from 25.35% in the prior quarter.
- The five-year high for Gross Margin was 26.19% in Q3 2024, with the low at 20.55% in Q1 2021.
- Average Gross Margin over 5 years is 23.57%, with a median of 24.2% recorded in 2024.
- Year-over-year, Gross Margin plunged 221 bps in 2021 and jumped 256 bps in 2024.
- Tracing VIPS's Gross Margin over 5 years: stood at 20.8% in 2021, then rose by 11 bps to 23.07% in 2022, then increased by 10 bps to 25.38% in 2023, then retreated by 3 bps to 24.69% in 2024, then advanced by 1 bps to 24.86% in 2025.
- The last three Gross Margin figures came in at 24.86% (Q4 2025), 25.35% (Q3 2025), and 25.44% (Q2 2025), per Business Quant data.
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 26.69% |
| Dec 31, 2025 | 24.86% |
| Sep 30, 2025 | 25.35% |
| Jun 30, 2025 | 25.44% |
| Mar 31, 2025 | 25.04% |
| Dec 31, 2024 | 24.69% |
| Sep 30, 2024 | 26.19% |
| Jun 30, 2024 | 25.29% |
| Mar 31, 2024 | 25.32% |
| Dec 31, 2023 | 25.38% |
| Sep 30, 2023 | 25.53% |
| Jun 30, 2023 | 23.70% |
| Mar 31, 2023 | 22.76% |
| Dec 31, 2022 | 23.07% |
| Sep 30, 2022 | 23.13% |
| Jun 30, 2022 | 21.69% |
| Mar 31, 2022 | 20.93% |
| Dec 31, 2021 | 20.80% |
| Sep 30, 2021 | 20.57% |
| Jun 30, 2021 | 21.10% |
| Mar 31, 2021 | 20.55% |
| Dec 31, 2020 | 23.01% |
| Sep 30, 2020 | 22.02% |
| Jun 30, 2020 | 21.28% |
| Mar 31, 2020 | 20.14% |
| Dec 31, 2019 | 24.95% |
| Sep 30, 2019 | 22.91% |
| Jun 30, 2019 | 23.43% |
| Mar 31, 2019 | 21.29% |
| Dec 31, 2018 | 21.53% |
| Sep 30, 2018 | 21.33% |
| Jun 30, 2018 | 20.11% |
| Mar 31, 2018 | 20.70% |
| Dec 31, 2017 | 22.31% |
| Sep 30, 2017 | 23.49% |
| Jun 30, 2017 | 22.66% |
| Mar 31, 2017 | 23.67% |
| Dec 31, 2016 | 24.14% |
| Sep 30, 2016 | 25.05% |
| Jun 30, 2016 | 24.65% |
| Mar 31, 2016 | 24.79% |
| Dec 31, 2015 | 24.52% |
| Sep 30, 2015 | 25.34% |
| Jun 30, 2015 | 25.49% |
| Mar 31, 2015 | 25.45% |
| Dec 31, 2014 | 25.37% |
| Sep 30, 2014 | 25.53% |
| Jun 30, 2014 | 25.20% |
| Mar 31, 2014 | 25.28% |
| Dec 31, 2013 | 0.00% |
| Sep 30, 2013 | 24,387,171.63% |
| Jun 30, 2013 | 23.54% |
| Mar 31, 2013 | 23.73% |
| Dec 31, 2012 | 23,098,047.12% |
| Sep 30, 2012 | 22,292,704.45% |
| Jun 30, 2012 | 21.85% |
| Mar 31, 2012 | 21.16% |
| Dec 31, 2011 | 19,955,747,889,216.29% |
| Sep 30, 2011 | 0.00% |
| Jun 30, 2011 | 0.00% |