JD
JD.com, Inc.
JD's fundamentals are mixed: free cash flow more than tripled, but earnings per share fell 60%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
JD Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Strong |
JD's cash flow and balance sheet are currently healthy, and its revenue and profitability are stable.
JD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.7x | $14.79 | -46% |
| Fair | 15x | $23.37 | -15% |
| Current | 18x | $27.49 | — |
| Expensive | 30x | $45.14 | +64% |
Historical ranges are pointers, not guarantees.
JD's PE is 18x, but its earnings don't support one, so it isn't a reliable read right now.
JD Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for JD, with profitability improving. However, they disagree widely on these estimates.
JD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $1.52 | -60% |
| Q1 2026 | $1.39 | -69% |
| Q4 2025 | $1.94 | -52% |
| Q3 2025 | $3.18 | -6.2% |
| Q2 2025 | $3.83 | +29% |
| Q1 2025 | $4.44 | +87% |
| Q4 2024 | $4.05 | +77% |
| Q3 2024 | $3.39 | +51% |
JD's earnings per share have fallen from their peak: $1.52 over the past year, against $4.95 in early 2021.
JD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $51.8B | -3.2% |
| Q1 2026 | $47.1B | +4.2% |
| Q4 2025 | $52.9B | +1.5% |
| Q3 2025 | $44.9B | +15% |
| Q2 2025 | $53.5B | +22% |
| Q1 2025 | $45.2B | +16% |
| Q4 2024 | $52.1B | +13% |
| Q3 2024 | $39.1B | +5.1% |
JD's revenue has held roughly level: $51.8B last quarter, down 3.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 1.2% | +1.4 points |
| Q1 2026 | 1.2% | -2.3 points |
| Q4 2025 | -1.7% | -4.1 points |
| Q3 2025 | -0.3% | -5 points |
| Q2 2025 | -0.2% | -3.8 points |
| Q1 2025 | 3.5% | +0.5 points |
| Q4 2024 | 2.5% | +1.8 points |
| Q3 2024 | 4.6% | +0.9 points |
JD's operating margin was 1.2% last quarter, up 1.4 points from the same quarter a year ago.
JD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $4.8B | +49% |
| Q1 2026 | -$676.5M | +$2.4B |
| Q4 2025 | $2.2B | -23% |
| Q3 2025 | -$1.6B | +$142M |
| Q2 2025 | $3.2B | -55% |
| Q1 2025 | -$3.1B | -$959M |
| Q4 2024 | $2.8B | +73% |
| Q3 2024 | -$1.7B | -216% |
JD still generates free cash flow, though less than at its 2024 peak: $4.7B over the past year.
JD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.7% | -24.5M shares |
| 1 year | -5.2% | -77M shares |
| 3 years | -11% | -175M shares |
| 5 years | -12% | -187M shares |
| Available history | -5.2% | -77.6M shares |
JD has 1.4B diluted shares, down 5.2% from a year ago, with $3.2B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $3.2B |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | $3.9B |
| Q3 2024 | — |
JD spent $3.2B buying back its own shares over the past year, down 17% from the year before.
JD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | -0.2x | Net Cash |
| Q4 2025 | -1.1x | Net Cash |
| Q3 2025 | -0.0x | Net Cash |
| Q2 2025 | -0.4x | Net Cash |
| Q1 2025 | -0.2x | Net Cash |
| Q4 2024 | -0.4x | Net Cash |
| Q3 2024 | -0.3x | Net Cash |
JD's net debt is less than a year of its operating earnings (EBITDA), after holding more cash than debt a year ago.
JD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.0 | Neutral |
| Stochastic | 28.1 | Neutral |
JD's weekly RSI is 48 (neutral) and its Stochastic is 28 (neutral).
JD PE vs Consumer Cyclical Sector
| Metric | JD | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 18x | 0.3% above |
| PE % | 59 | 47 | 12 pts above |
JD is trading at 18x earnings, in line with the Consumer Cyclical sector's median of 18x, though its earnings don't support one.
JD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $26.8 | 2.8% above |
| 20 week MA | $28.2 | 2.5% below |
| 50 week MA | $28.6 | 3.8% below |
| 100 week MA | $31.7 | 13% below |
| 200 week MA | $32.4 | 15% below |
JD has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 15% below its 200-week average.
JD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $35.9 | $84.5 | +135% |
| 2021 | $84.5 | $68.7 | -19% |
| 2022 | $68.7 | $56.4 | -18% |
| 2023 | $56.4 | $28.9 | -49% |
| 2024 | $28.9 | $35.0 | +21% |
| 2025 | $35.0 | $29.4 | -16% |
| 2026 YTD | $29.4 | $27.5 | -6.5% |
JD's yearly returns have swung widely, from +135% in 2020 to −49% in 2023. It's down 6.5% so far in 2026.