Financials JD.com, Inc.

Equities

JD

US47215P1066

Department Stores

Market Closed - Nasdaq Other stock markets 04:00:00 2024-12-06 pm EST			5-day change	1st Jan Change
37.18 ^USD	+2.11%		-0.54%	+28.70%

Dec. 06	JD.com's JD Logistics Unit to Fully Acquire Kuayue-Express	MT
Nov. 25	Hong Kong Stocks Extend Sell-Off; Meituan, JD.com Shares Slide 3%	MT

Projected Income Statement: JD.com, Inc.

income-statement-evolution-chart JD-COM-INC

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	576,888	745,802	951,592	1,046,236	1,084,662	1,137,181	1,201,504	1,269,692
Change	-	29.28%	27.59%	9.95%	3.67%	4.84%	5.66%	5.68%
EBITDA ¹	13,811	20,681	18,712	33,602	42,452	49,546	55,564	61,928
Change	-	49.74%	-9.52%	79.58%	26.34%	16.71%	12.15%	11.45%
EBIT ¹	8,995	12,343	4,141	19,723	26,025	37,627	44,185	49,897
Change	-	37.22%	-66.45%	376.29%	31.95%	44.58%	17.43%	12.93%
Interest Paid ¹	-725	-1,125	-1,213	-2,106	-2,881	-2,653	-2,594	-2,591
Earnings before Tax (EBT) ¹	13,693	50,819	-2,581	13,867	31,650	46,365	50,424	55,582
Change	-	271.14%	-	-	128.24%	46.49%	8.75%	10.23%
Net income ¹	12,184	49,405	-3,560	10,380	24,167	36,658	40,134	43,775
Change	-	305.49%	-	-	132.82%	51.69%	9.48%	9.07%
Announcement Date	3/2/20	3/11/21	3/10/22	3/9/23	3/6/24	-	-	-

¹CNY in Million

Estimates

Fiscal Period: Diciembre	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	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	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	170,684	146,205	201,054	174,214	224,328	203,176	253,800	218,708	275,907	239,655	267,600	243,535	295,446	242,956	287,931	247,698	306,077	260,049	291,397	260,387	321,595	275,143	309,874	277,586	345,334	288,352	328,825	287,252
Change	-	-14.34%	37.51%	-13.35%	28.77%	-9.43%	24.92%	-13.83%	26.15%	-13.14%	11.66%	-8.99%	21.32%	-17.77%	18.51%	-13.97%	23.57%	-15.04%	12.05%	-10.64%	23.51%	-14.44%	12.62%	-10.42%	24.41%	-16.5%	14.04%	-12.64%
EBITDA ¹	1,966	4,514	6,900	6,602	2,665	4,940	3,747	5,863	4,162	6,066	7,175	11,463	8,898	9,499	10,403	12,889	9,661	10,787	13,530	15,077	11,135	12,133	14,582	15,980	13,347	15,514	17,825	18,371
Change	-	129.66%	52.86%	-4.33%	-59.64%	85.39%	-24.15%	56.48%	-29.01%	45.75%	18.28%	59.76%	-22.38%	6.75%	9.52%	23.9%	-25.04%	11.66%	25.43%	11.43%	-26.14%	8.96%	20.18%	9.59%	-16.48%	16.23%	14.9%	3.06%
EBIT ¹	529.5	2,320	5,044	4,383	594.9	1,660	300.8	2,572	-392	2,409	3,758	8,728	4,828	6,427	8,270	9,303	2,025	7,700	10,501	12,044	7,591	8,641	11,078	12,658	9,636	-	-	-
Change	-	338.2%	117.37%	-13.1%	-86.43%	178.97%	-81.88%	755.32%	-	-	56%	132.25%	-44.68%	33.12%	28.68%	12.49%	-78.23%	280.25%	36.38%	14.69%	-36.97%	13.83%	28.2%	14.26%	-23.87%	-100%	-	-
Charge d'intérêts ¹	-219.8	-207.1	-324.2	-297.8	-296.1	-257.8	-232.3	-276.1	-447.2	-345	-484	-579	-698	-590	-654	-710	-927	-601	-688	-681	-683.4	-575	-575	-575	-575	-	-	-
Earnings before Tax (EBT) ¹	4,033	1,384	17,210	8,276	23,950	4,122	1,047	-2,616	-5,133	-2,915	5,256	7,710	3,816	7,808	9,734	10,802	3,306	9,065	15,616	15,243	9,100	10,746	13,776	15,700	11,381	-	-	-
Change	-	-65.69%	1,143.8%	-51.91%	189.39%	-82.79%	-74.6%	-	96.21%	-43.22%	-	46.69%	-50.51%	104.61%	24.67%	10.97%	-69.39%	174.2%	72.27%	-2.39%	-40.3%	18.08%	28.2%	13.96%	-27.51%	-100%	-	-
Net income ¹	3,634	1,073	16,447	7,560	24,325	3,617	794.3	-2,807	-5,165	-2,991	4,376	5,963	3,032	6,261	6,581	7,936	3,389	7,130	12,644	11,731	6,764	7,945	9,916	11,529	9,089	-	-	-
Change	-	-70.48%	1,433.02%	-54.03%	221.75%	-85.13%	-78.04%	-	84.02%	-42.09%	-	36.27%	-49.15%	106.5%	5.11%	20.59%	-57.3%	110.39%	77.34%	-7.22%	-42.34%	17.46%	24.81%	16.26%	-21.16%	-100%	-	-
Announcement Date	3/2/20	5/15/20	8/17/20	11/16/20	3/11/21	5/19/21	8/23/21	11/18/21	3/10/22	5/17/22	8/23/22	11/18/22	3/9/23	5/11/23	8/16/23	11/15/23	3/6/24	5/16/24	8/15/24	11/14/24	-	-	-	-	-	-	-	-

¹CNY in Million

Estimates

Forecast Balance Sheet: JD.com, Inc.

Fiscal Period: Diciembre	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-51,522	-130,871	-171,577	-177,577	-143,146	-79,375	-99,656	-122,514
Change	-	-354.01%	-231.1%	-203.5%	-180.61%	-155.45%	-225.55%	-222.94%
Announcement Date	3/2/20	3/11/21	3/10/22	3/9/23	3/6/24	-	-	-

¹CNY in Million

Estimates

Cash Flow Forecast: JD.com, Inc.

Fiscal Period: Diciembre	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	1,094	7,670	18,566	17,667	18,378	18,036	18,707	18,967
Change	-	600.88%	142.06%	-4.84%	4.02%	-1.86%	3.72%	1.39%
Free Cash Flow (FCF) ¹	19,453	34,922	26,228	40,152	41,143	35,491	41,398	44,304
Change	-	79.52%	-24.9%	53.09%	2.47%	-13.74%	16.64%	7.02%
Announcement Date	3/2/20	3/11/21	3/10/22	3/9/23	3/6/24	-	-	-

¹CNY in Million

Estimates

Forecast Financial Ratios: JD.com, Inc.

Fiscal Period: Diciembre	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	2.39%	2.77%	1.97%	3.21%	3.91%	4.36%	4.62%	4.88%
EBIT Margin (%)	1.56%	1.65%	0.44%	1.89%	2.4%	3.31%	3.68%	3.93%
EBT Margin (%)	2.37%	6.81%	-0.27%	1.33%	2.92%	4.08%	4.2%	4.38%
Net margin (%)	2.11%	6.62%	-0.37%	0.99%	2.23%	3.22%	3.34%	3.45%
FCF margin (%)	3.37%	4.68%	2.76%	3.84%	3.79%	3.12%	3.45%	3.49%
FCF / Net Income (%)	159.66%	70.69%	-736.82%	386.82%	170.24%	96.82%	103.15%	101.21%
Profitability
ROA	4.59%	4.93%	3.75%	5.17%	3.95%	5.82%	6.03%	6.14%
ROE	15.18%	12.49%	8.68%	13.37%	10.86%	16.56%	15.85%	15.34%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	0.19%	1.03%	1.95%	1.69%	1.69%	1.59%	1.56%	1.49%
CAPEX / EBITDA (%)	7.92%	37.09%	99.22%	52.58%	43.29%	36.4%	33.67%	30.63%
CAPEX / FCF (%)	5.63%	21.96%	70.79%	44%	44.67%	50.82%	45.19%	42.81%
Items per share
Cash flow per share ¹	17.02	28.16	27.23	36.35	37.49	39.04	41.25	45.27
Change	-	65.48%	-3.31%	33.53%	3.12%	4.14%	5.67%	9.75%
Dividend per Share ¹	-	-	-	4.261	5.469	6.395	7.079	7.329
Change	-	-	-	-	28.36%	16.92%	10.69%	3.53%
Book Value Per Share ¹	55.98	120.9	134.3	136.1	147.8	164.8	188.9	212.2
Change	-	115.89%	11.13%	1.31%	8.6%	11.55%	14.6%	12.33%
EPS ¹	8.21	31.68	-2.29	6.42	15.23	23.94	26.22	28.49
Change	-	285.87%	-107.23%	-380.35%	137.23%	57.22%	9.51%	8.64%
Nbr of stocks (in thousands)	1,460,161	1,549,877	1,536,133	1,565,500	1,573,500	1,449,500	1,449,500	1,449,500
Announcement Date	3/2/20	3/11/21	3/10/22	3/9/23	3/6/24	-	-	-