JD.com, Inc.

JDNASDAQConsumer Cyclical● Active

$28.88

$-0.31(-1.06%)

Market Cap$39.6B

P/E Ratio—

52W High$36.86

52W Low$24.508

Avg Volume10.8M

Open$29.68

Beta0.38

Free Cash Flow Financials Revenue

JD.com, Inc. (JD) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

JD · free cash flow · updated Jun 8, 2026

Core FCF metrics

JD · FCF · TTM · margin & CAGR

Free cash flow was $4.81B for FY2025 (fiscal year ending 2025-12-31), down 89.1% year-over-year The FCF margin was 0.4%. Five-year CAGR stands at -32.7%.

FY2025 Free Cash Flow$4.81B▼ -89.1% YoY

Trailing 12M (TTM)$4.81Btrailing 4 quarters sum

FCF Margin0.4%$4.81B ÷ revenue

3-Year CAGR-48.8%FY2022 → FY2025

5-Year CAGR-32.7%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

JD · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$18.99B(14.18B)$4.81B▼ 89.1%0.4%

FY2024$58.09B(13.82B)$44.28B▲ +12.1%3.8%

FY2023$59.52B(20.02B)$39.51B▲ +10.2%3.6%

FY2022$57.82B(21.98B)$35.84B▲ +51.0%3.4%

FY2021$42.30B(18.57B)$23.74B▼ 31.9%2.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

JD · P/FCF · FCF yield · FCF per share

JD.com, Inc. (JD) trades at a FCF yield of 1.79% and a price-to-free-cash-flow ratio of 8.5x. FCF per share stands at $3.38, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

1.79%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$3.38

TTM FCF ÷ Shares Outstanding

Price / FCF

x8.5

Share Price ÷ FCF per Share

EV / FCF (TTM)

x54.3

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

JD · cash flow statement · operating / investing / financing

For FY2025, JD.com, Inc. generated $18.99B in operating cash flow and spent 14.18B in capital expenditures, yielding $4.81B in free cash flow.

Operating Activities

+$18.99B

Cash from core business operations

2025-12-31

Investing Activities

+$41.83B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$26.73B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($18.99B) − |CapEx| (14.18B) = FCF ($4.81B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Consumer Cyclical)

JD vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

JD.com, Inc.YOU

$4.81B-89.1%0.4%

Toyota Motor Corporation

Alibaba Group Holding Limited

BABA

−$50.72B-164.9%-5.0%

Loss

Consumer Cyclical · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

JD.com, Inc. (JD) reported free cash flow of $4.81B for FY2025 (fiscal year ending 2025-12-31), down 89.1% year-over-year. The FCF margin was 0.4%.

Based on available data, JD.com, Inc. has maintained positive free cash flow for at least 11 fiscal year(s). FCF peaked at $44.28B in FY2024. The 5-year CAGR stands at -32.7%.

JD.com, Inc.'s FCF yield is 1.79% and price-to-FCF ratio is 8.5x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

JD free cash flow · 8 questions

JD.com, Inc. free cash flow was $4.81B for FY2025, down 89.1% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $4.81B.

JD free cash flowJD FCFJD FCF 2025JD free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · JD.com, Inc. · JD.com, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026