Vipshop Holdings (VIPS) Operating Margin (2011 - 2026)
Vipshop Holdings' quarterly Operating Margin came in at 9.68% in Q4 2025, up 45.0% year-on-year from 6.68% in Q4 2024, and up 48.48% quarter-over-quarter from 6.52% in Q3 2025.
Vipshop Holdings has reported Operating Margin for 15 years, with the latest figure at 9.68% in Q4 2025.
- For the quarter ending Q4 2025, Operating Margin rose 45.0% year-over-year to 9.68%; the trailing twelve-month figure through Dec 2025 stood at 8.36% (down 74.0% YoY), and the FY2025 full-year result was 7.68%, down 78.0% from the prior year.
- Operating Margin for Q4 2025 stood at 9.68%, up from 6.52% in the prior quarter.
- The five-year high for Operating Margin was 11.31% in Q4 2023, with the low at 3.28% in Q3 2021.
- Average Operating Margin over 5 years is 7.33%, with a median of 7.21% recorded in 2025.
- Year-over-year, Operating Margin slumped 236 bps in 2021 and surged 302 bps in 2024.
- Tracing VIPS's Operating Margin over 5 years: stood at 5.67% in 2021, then jumped by 48 bps to 8.39% in 2022, then surged by 35 bps to 11.31% in 2023, then declined by 18 bps to 9.23% in 2024, then advanced by 5 bps to 9.68% in 2025.
- The last three Operating Margin figures came in at 9.68% (Q4 2025), 6.52% (Q3 2025), and 7.13% (Q2 2025), per Business Quant data.
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 10.27% |
| Dec 31, 2025 | 9.68% |
| Sep 30, 2025 | 6.52% |
| Jun 30, 2025 | 7.13% |
| Mar 31, 2025 | 9.37% |
| Dec 31, 2024 | 9.23% |
| Sep 30, 2024 | 7.03% |
| Jun 30, 2024 | 8.90% |
| Mar 31, 2024 | 10.68% |
| Dec 31, 2023 | 11.31% |
| Sep 30, 2023 | 7.28% |
| Jun 30, 2023 | 7.33% |
| Mar 31, 2023 | 7.66% |
| Dec 31, 2022 | 8.39% |
| Sep 30, 2022 | 5.62% |
| Jun 30, 2022 | 5.48% |
| Mar 31, 2022 | 5.36% |
| Dec 31, 2021 | 5.67% |
| Sep 30, 2021 | 3.28% |
| Jun 30, 2021 | 5.21% |
| Mar 31, 2021 | 5.55% |
| Dec 31, 2020 | 7.59% |
| Sep 30, 2020 | 5.63% |
| Jun 30, 2020 | 5.34% |
| Mar 31, 2020 | 4.35% |
| Dec 31, 2019 | 6.33% |
| Sep 30, 2019 | 6.33% |
| Jun 30, 2019 | 4.44% |
| Mar 31, 2019 | 4.22% |
| Dec 31, 2018 | 4.01% |
| Sep 30, 2018 | 2.08% |
| Jun 30, 2018 | 1.99% |
| Mar 31, 2018 | 3.42% |
| Dec 31, 2017 | 3.76% |
| Sep 30, 2017 | 3.01% |
| Jun 30, 2017 | 3.65% |
| Mar 31, 2017 | 4.72% |
| Dec 31, 2016 | 5.07% |
| Sep 30, 2016 | 4.52% |
| Jun 30, 2016 | 4.90% |
| Mar 31, 2016 | 5.00% |
| Dec 31, 2015 | 5.87% |
| Sep 30, 2015 | 5.13% |
| Jun 30, 2015 | 4.96% |
| Mar 31, 2015 | 4.69% |
| Dec 31, 2014 | 4.56% |
| Sep 30, 2014 | 2.52% |
| Jun 30, 2014 | 2,949,390.49% |
| Mar 31, 2014 | 4,340,044.52% |
| Dec 31, 2013 | 4,605,890.13% |
| Sep 30, 2013 | 3.16% |
| Jun 30, 2013 | 1.92% |
| Mar 31, 2013 | 1.79% |
| Dec 31, 2012 | 1,822,682.18% |
| Sep 30, 2012 | -2,085,121,481,904.89% |
| Jun 30, 2012 | -4.02% |
| Mar 31, 2012 | -8.57% |
| Dec 31, 2011 | -60,342,237.31% |
| Sep 30, 2011 | 0.00% |
| Jun 30, 2011 | 0.00% |