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JD.com Inc. is a China-based technology and services enterprise focused on integrated supply chain-driven retail. The company operates one of China’s largest e-commerce platforms, offering a broad range of products including electronics, home appliances, apparel, fresh food, and general merchandise to consumers and businesses. Its operations are structured around key segments such as JD Retail, JD Logistics, and various new businesses that support partners and merchants across the digital economy. JD.com provides end-to-end logistics, including nationwide warehousing, transportation, and last-mile delivery, which enables reliable and timely fulfillment. It also develops and applies technologies such as data analytics, automation, and cloud-based tools to optimize inventory management and supply chain efficiency. Beyond retail, JD.com is active in areas such as health-related services, industrial solutions, property-related services, and international commerce, positioning it as an important infrastructure and service provider within China’s online and offline retail ecosystem.
$29.62
$0.06 (-0.20%)
EOD Jul 17, 2026
Operating margin is thin at 0.28%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 13.0%, still solid. Margins contracted 3.1pp, which offsets some of the top-line progress.
Free cash flow declined 89% versus the prior year, cash generation momentum has weakened. ROIC dropped from 8.93% to 0.84%, capital efficiency is deteriorating.
22.4x earnings, 12.2x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
¥1.32T
▲ +13.0% YoY
Net Income (TTM)
¥17.69B
▼ -48.2% YoY
Op. Margin
-0.23%
▼ -3.1pp YoY
ROIC
0.84%
▼ -8.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
¥23.62B
▼ -89.1% YoY
Op. Cash Flow (TTM)
¥23.62B
▼ -60.6% YoY
Net Debt
-¥106.13B
Net Cash Position
Cash & Equiv.
¥213.23B
3Y CAGR: +7.8%
3Y CAGR: -48.4%
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At a P/E of 22.4 and a price-to-free-cash-flow of 12.2, JD.com (JD) trades below a two-stage DCF intrinsic value of about CNY 385.23 per share, so at CNY 29.62 the stock looks undervalued (1,200.6% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, JD.com scores 52/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 3.6%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about CNY 385.23 per share for JD, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around CNY 288.92. At today's CNY 29.62, that puts the stock about 1,200.6% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
JD.com scores 52 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a -0.2% operating margin and a 0.8% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, JD.com pays a regular dividend of about CNY 7.25 per share per year (typically in quarterly installments), a yield of roughly 3.6% at the current price. That is a payout ratio of about 58.7% of earnings, so the dividend is well covered. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For JD's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. JD currently trades below its estimated intrinsic value and scores 52/100 on quality (mixed). It also yields about 3.6%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.