Financials JD.com, Inc. Hong Kong S.E.

Equities

9618

KYG8208B1014

Department Stores

Market Closed - Hong Kong S.E. 01:38:22 29/04/2024 pm IST 5-day change 1st Jan Change
118 HKD +0.25% Intraday chart for JD.com, Inc. +17.41% +4.89%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,58,120 8,88,928 6,83,720 6,06,067 3,22,632 3,36,124 - -
Enterprise Value (EV) 1 3,06,598 7,58,057 5,12,143 4,28,490 1,79,486 2,72,103 2,55,821 2,39,498
P/E ratio 29.9 x 18.1 x -194 x 60.3 x 13.5 x 12.2 x 10.7 x 9.42 x
Yield - - - 1.1% 2.67% 2.61% 2.51% 3.11%
Capitalization / Revenue 0.62 x 1.19 x 0.72 x 0.58 x 0.3 x 0.29 x 0.27 x 0.26 x
EV / Revenue 0.53 x 1.02 x 0.54 x 0.41 x 0.17 x 0.24 x 0.21 x 0.18 x
EV / EBITDA 22.2 x 36.7 x 27.4 x 12.8 x 4.23 x 5.94 x 4.95 x 4.17 x
EV / FCF 15.8 x 21.7 x 19.5 x 10.7 x 4.36 x 8.2 x 6.9 x 5.78 x
FCF Yield 6.34% 4.61% 5.12% 9.37% 22.9% 12.2% 14.5% 17.3%
Price to Book 4.38 x 4.75 x 3.31 x 2.85 x 1.39 x 1.33 x 1.19 x 1.08 x
Nbr of stocks (in thousands) 14,60,161 15,49,877 15,36,133 15,65,500 15,73,500 15,30,233 - -
Reference price 2 245.3 573.5 445.1 387.1 205.0 216.4 216.4 216.4
Announcement Date 02/03/20 11/03/21 10/03/22 09/03/23 06/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 5,76,888 7,45,802 9,51,592 10,46,236 10,84,662 11,56,610 12,35,237 13,05,452
EBITDA 1 13,811 20,681 18,712 33,602 42,452 45,814 51,702 57,405
EBIT 1 8,995 12,343 4,141 19,723 26,025 32,861 37,920 42,874
Operating Margin 1.56% 1.65% 0.44% 1.89% 2.4% 2.84% 3.07% 3.28%
Earnings before Tax (EBT) 1 13,693 50,819 -2,581 13,867 31,650 35,143 40,846 45,934
Net income 1 12,184 49,405 -3,560 10,380 24,167 28,107 32,239 36,080
Net margin 2.11% 6.62% -0.37% 0.99% 2.23% 2.43% 2.61% 2.76%
EPS 2 8.210 31.68 -2.290 6.420 15.23 17.75 20.28 22.97
Free Cash Flow 1 19,453 34,922 26,228 40,152 41,143 33,185 37,058 41,452
FCF margin 3.37% 4.68% 2.76% 3.84% 3.79% 2.87% 3% 3.18%
FCF Conversion (EBITDA) 140.85% 168.86% 140.17% 119.49% 96.92% 72.44% 71.68% 72.21%
FCF Conversion (Net income) 159.66% 70.69% - 386.82% 170.24% 118.07% 114.95% 114.89%
Dividend per Share 2 - - - 4.261 5.469 5.644 5.439 6.735
Announcement Date 02/03/20 11/03/21 10/03/22 09/03/23 06/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 2,18,708 2,75,907 2,39,655 2,67,600 2,43,535 2,95,446 2,42,956 2,87,931 2,47,698 3,06,077 2,58,083 3,02,351 2,66,565 3,25,789 2,79,657
EBITDA 1 5,863 4,162 6,066 7,175 11,463 8,898 9,499 10,403 12,889 9,661 9,742 11,141 13,073 11,242 12,540
EBIT 1 2,572 -392 2,409 3,758 8,728 4,828 6,427 8,270 9,303 2,025 6,686 8,125 9,851 7,864 -
Operating Margin 1.18% -0.14% 1.01% 1.4% 3.58% 1.63% 2.65% 2.87% 3.76% 0.66% 2.59% 2.69% 3.7% 2.41% -
Earnings before Tax (EBT) 1 -2,616 -5,133 -2,915 5,256 7,710 3,816 7,808 9,734 10,802 3,306 7,057 8,949 10,251 9,304 -
Net income 1 -2,807 -5,165 -2,991 4,376 5,963 3,032 6,261 6,581 7,936 3,389 5,507 6,859 8,144 6,641 -
Net margin -1.28% -1.87% -1.25% 1.64% 2.45% 1.03% 2.58% 2.29% 3.2% 1.11% 2.13% 2.27% 3.06% 2.04% -
EPS 2 -1.810 -3.320 -1.920 2.740 3.570 1.910 3.930 4.150 5.000 2.130 3.562 4.330 5.476 4.399 -
Dividend per Share 2 - - - - - 4.261 - - - 5.469 - - - 5.493 -
Announcement Date 18/11/21 10/03/22 17/05/22 23/08/22 18/11/22 09/03/23 11/05/23 16/08/23 15/11/23 06/03/24 - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 51,522 1,30,871 1,71,577 1,77,577 1,43,146 64,021 80,303 96,626
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 19,453 34,922 26,228 40,152 41,143 33,185 37,058 41,452
ROE (net income / shareholders' equity) 15.2% 12.5% 8.68% 13.4% 10.9% 12.7% 12.9% 12.9%
ROA (Net income/ Total Assets) 4.59% 4.93% 3.75% 5.17% 3.95% 4.7% 5.11% 5.16%
Assets 1 2,65,722 10,01,180 -95,033 2,00,787 6,12,102 5,97,750 6,30,824 6,98,591
Book Value Per Share 2 56.00 121.0 134.0 136.0 148.0 163.0 182.0 200.0
Cash Flow per Share 2 17.00 28.20 27.20 36.40 37.50 33.30 36.60 38.90
Capex 1 1,094 7,670 18,566 17,667 18,378 18,984 19,509 20,013
Capex / Sales 0.19% 1.03% 1.95% 1.69% 1.69% 1.64% 1.58% 1.53%
Announcement Date 02/03/20 11/03/21 10/03/22 09/03/23 06/03/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
39
Last Close Price
216.4 CNY
Average target price
267.9 CNY
Spread / Average Target
+23.79%
Consensus