JD JD.com, Inc. - American Depositary Shares

NASDAQ · Retail
$32.51
Price · May 20, 2026
52W Range
$25–$37
65% of range
Analyst Rating
BUY
33 analysts
Price Target
$41
+26% upside
P/E (TTM)
—
ROE
—
Net Profit Margin
—

JD Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$32.51
Market Cap
—
P/E (TTM)
—
EPS (TTM)
—
Revenue (TTM)
—
Div Yield
—
ROE
—
Debt/Equity
—
52W Range
$25 – $37

JD Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income —
EPS —
Free Cash Flow —
Margins —

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
JD
Peer Median

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
JD
Peer Median

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
JD
Peer Median

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
JD
Peer Median

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
JD
Peer Median

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
JD
Peer Median

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield
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Payout Ratio
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5Y Div CAGR
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Ex-dateAmount
April 9, 2026$1.0000
April 8, 2025$1.0000
April 4, 2024$0.7600
April 5, 2023$0.6200
May 19, 2022$1.2600

JD Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 33 analysts
  • Strong Buy 10 30.3%
  • Buy 20 60.6%
  • Hold 2 6.1%
  • Sell 0 0.0%
  • Strong Sell 1 3.0%

12-Month Price Target

36 analysts · 2026-05-17
Median target $39.90 +22.7%
Mean target $41.05 +26.3%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
-0.57%
Period EPS Actual EPS Est Surprise
March 31, 2026 $2.56 $2.95 -0.39%
Dec. 31, 2025 $0.29 $1.01 -0.72%
Sept. 30, 2025 $1.87 $2.10 -0.23%
June 30, 2025 $2.48 $3.59 -1.1%
March 31, 2025 $4.21 $4.63 -0.42%

JD AI Analyst Panel — Bullish and Bearish Views 2026Q2 debate: Claude, Grok, Gemini, ChatGPT on the stock's prospects

Round 1 — Opening Takes

Grok NEUTRAL 0.65
↑ Bullish

JD.com looks like a bargain-basement e-commerce play if China's consumer spending snaps back in 2026. The trailing P/E of 8 means investors pay just $8 for every dollar of profit, a steal for a company with JD's scale and logistics dominance that screams undervaluation. P/S at 0.2 underscores how cheaply the market values its massive revenue base compared to global peers. Even with ROE at 13.8%, down but still healthy, it signals efficient equity use ready to compound if growth reignites.

↓ Bearish

JD risks a profitability trap as competition and China slowdowns squeeze margins further into 2026Q2. Net margin has fallen to 2.47%, highlighting razor-thin profits vulnerable to price wars with PDD and Alibaba. Debt-to-equity up at 34.74 shows rising leverage that amplifies risks in a high-interest environment. Recent price action confirms weakness, with shares dropping from 35 to 31 amid heavy volume, signaling eroding investor confidence.

Claude NEUTRAL 0.62
↑ Bullish

JD trades at a valuation that assumes the company is broken — but the fundamentals don't support that narrative. A P/E of 8.0 and P/S of 0.199 are deep-value territory for a company still generating positive returns. The ROE of 13.81% is solid for a logistics and e-commerce operator, and that's on a net margin of 2.47%, which is thin but sustainable in that industry. If China's consumer spending stabilizes and JD's logistics network drives margin expansion — even modestly — the stock reprices sharply higher from here.

↓ Bearish

JD is caught in a structural profitability squeeze that the valuation doesn't fully price in. Net margin fell from 3.06% to 2.47% year-over-year, and EPS dropped from 12.77 to 10.69 per share over the same window. The debt-to-equity ratio climbed to 34.74, up from 31.62, which means the company is levering up into a period of margin compression. Chinese e-commerce is saturated, competition is brutal, and JD's logistics moat isn't translating into pricing power. At 8x earnings, you're not being paid to wait for a turnaround that may never come.

Gemini NEUTRAL 0.65
↑ Bullish

The strongest argument for JD is its extreme valuation discount relative to its massive scale. The stock currently trades at a price-to-sales ratio of just 0.199. This implies the market is assigning almost zero value to their dominant logistics infrastructure and massive consumer reach, essentially pricing the company as if it were failing. With a current ratio of 1.1981, JD maintains enough liquidity to navigate short-term headwinds without needing to tap expensive capital markets. I see this as a classic value play where the market has simply lost interest in the underlying cash flow generation.

↓ Bearish

The bearish case centers on the company’s struggling ability to turn revenue into meaningful bottom-line growth. Net margins have compressed to 2.47%. This tells me that even with their massive scale, JD is fighting a brutal price war that leaves almost no room for error or reinvestment. Furthermore, the debt-to-equity ratio has climbed to 34.74. This suggests the company is increasingly relying on leverage to maintain operations, which is a dangerous trend in a high-interest rate environment. I fear the business model is becoming a commodity play where growth is sacrificed for sheer survival.

Chatgpt NEUTRAL 0.62
↑ Bullish

I think the strongest bull case is that JD can compound earnings as the Chinese online consumer recovers and margins hold. P/E TTM: 8.06. This cheap earnings multiple means the stock could re-rate quickly if earnings stabilize. P/S TTM: 0.199. The ultra-low revenue multiple provides downside cushion and upside if top-line growth returns. Current ratio: 1.1981. Liquidity is adequate to fund near-term growth without urgent financing pressures.

↓ Bearish

I think the strongest bear case is that JD's profitability and leverage are deteriorating, which could pressure earnings. Net margin TTM: 2.47%. Profitability is thin and could compress further if competition intensifies or costs rise. Debt/Equity: 34.74. Rising leverage increases debt costs and balance-sheet risk if cash flows slow. EPS TTM: 10.69. Trailing earnings are down, signaling weaker profitability and less cushion for downside scenarios.

Round 2 — Responses & Rebuttals

Grok

Gemini, I disagree that JD's debt-to-equity at 34.74 signals a dangerous reliance on leverage. That ratio means debt is just 35% of equity, which is conservative for a cash-generative e-commerce giant and leaves plenty of dry powder for investments or buybacks without straining liquidity. Your point ignores the current ratio of 1.20, confirming short-term assets comfortably cover liabilities and underscoring why this isn't a red flag but a manageable uptick amid capex needs.

Claude

I think Grok is wrong to call the recent price action a signal of eroding confidence. Yes, shares dropped from 35 to 31, but that move happened in mid-May on 110 million shares — a single spike, not a trend. Since then, we've been range-bound between 31 and 34 for seven weeks. That's not capitulation; that's consolidation. The real tell is volume: it's normalized back to 40–45 million shares weekly after that spike. If institutional money were fleeing, we'd see sustained heavy volume on the way down. We're not seeing that.

Gemini

Grok, your point about the price action signaling eroding confidence is spot on, but I think you are underestimating the structural danger of that debt-to-equity ratio of 34.74. This ratio shows that for every dollar of shareholder equity, the company is carrying nearly 35 dollars in debt. In a retail environment where margins are already compressed to 2.47%, that level of leverage leaves zero room for error if the Chinese consumer doesn't rebound exactly as you expect. I am sticking with my hold rating because that balance sheet risk outweighs the valuation bargain.

Chatgpt

Claude, your point about JD trading at a P/E of 8.0 being deep value is a clean argument, but it assumes earnings stability will re-rate without considering margin fragility. That low multiple looks cheap only if China’s consumer recovery upholds earnings; otherwise, the stock may stay sidelined longer. Beyond that, the more actionable risk is rising leverage and a competitive margin squeeze that could keep earnings under pressure even if top line stabilizes. I’d want clearer evidence of margin resilience before chasing a rebound.

Round 3 — Final Rebuttals

G
Grok

Gemini, your claim that debt-to-equity of 34.74 means nearly 35 dollars of debt per dollar of equity is flat-out wrong — no one challenged it last round, but it needs correcting now. That figure is expressed as a percentage, so actual leverage is just 0.35 debt for every dollar of equity, conservative for e-commerce and far from a crisis level. It climbed only from 31.6%, reflecting measured borrowing for logistics amid thin 2.47% net margins. This clears up why the balance sheet supports a buy, not a hold.

C
Claude

I want to push back on Grok's reading of that debt-to-equity ratio. Grok, you said 34.74 means debt is just 35% of equity and that's conservative — but that's inverting the math. A D/E of 34.74 means JD is carrying $34.74 in debt for every $1 of equity, not the other way around. That's extremely aggressive leverage, not conservative. In a margin-compression environment like this, where net margin sits at 2.47%, that level of debt amplifies downside risk if cash flow deteriorates. Gemini's caution on the balance sheet is exactly right. The valuation looks cheap until you factor in the financial risk underneath it.

G
Gemini

Grok, I think you are misinterpreting the debt-to-equity ratio entirely. A D/E of 34.74 means the company has 34.74 dollars of debt for every single dollar of equity, not 35% as you claimed. This is a massive leverage burden that significantly increases the risk of insolvency if cash flows tighten. I am staying at a hold because this level of debt, combined with a net margin of 2.47%, creates a precarious situation where any further decline in consumer spending could lead to a liquidity crunch that the current ratio of 1.20 cannot protect against.

C
Chatgpt

I think, Claude, we should widen the frame to regulatory and macro dynamics that could move JD's price beyond pure earnings. Debt/Equity is 34.74, which means the company is more levered than many peers — that makes JD more vulnerable to policy or rate shocks. Regulatory risk in China around platform monopolies could cap margin upside and trigger policy actions; macro factors like USD strength and higher rates could compress the ADR multiple even if fundamentals hold.

Price Forecasts

Model 3M Target 6M Target Reasoning
G Grok 3M Target $36.50 6M Target $42.00 Reasoning JD's ultra-low P/E screams undervaluation that pulls shares higher as China's consumer stabilizes into 2026Q2. The key catalyst is the Q2 earnings release in late August 2026, where even flat EPS guidance at 10.69 reignites re-rating from today's 8x multiple toward 12x peers. The big risk is intensified price wars if PDD reports accelerating market share in that print, crushing margins below 2.47%. At a 12x P/E on current EPS, that implies $128 fair value, but I anchor conservatively to $42 on partial recovery given logistics moat. Recent range 31-34 sets up breakout on volume.
C Claude 3M Target $34.50 6M Target $38.25 Reasoning JD re-rates on margin stabilization, not a turnaround — the valuation is so compressed that even flat profitability justifies a 15–20% move. My catalyst: 2026Q2 earnings in August showing net margin holding at 2.47% or better, signaling the worst of the squeeze is priced in. My risk: further margin compression below 2.4% forces a downgrade and sends the stock back to 28–30. On the D/E ratio — Grok's math was backwards; 34.74 means $34.74 debt per $1 equity, which is severe. But JD's current ratio of 1.20 and positive operating cash flow mean it's manageable if margins don't deteriorate further. I'm betting they don't.
G Gemini 3M Target $34.50 6M Target $37.00 Reasoning I believe JD is currently priced for a worst-case scenario that ignores its dominant logistics moat, creating a tactical opportunity for a mean-reversion trade. My thesis hinges on the 2026Q2 earnings release, which acts as a key catalyst; if management shows even modest margin expansion, the market will likely re-rate the stock. Conversely, a further contraction in net margins below 2.47% would invalidate my outlook, as it would signal that the price war is cannibalizing the company's core profitability. At a P/S ratio of 0.199, investors are paying essentially pennies for every dollar of revenue, which provides a significant valuation floor that limits downside risk.
C Chatgpt 3M Target $34.50 6M Target $37.00 Reasoning I think JD is a durable value play that could re-rate if China consumer demand stabilizes and margins hold. Catalysts: the 2026Q2 earnings print and any guidance showing top-line momentum and margin stability. Risk: a sharper-than-expected margin squeeze or slower Chinese recovery would break the thesis. At 32.53, with P/E around 8x and net margin 2.47%, the stock is cheap for its scale, so a positive earnings surprise could lift the multiple and push toward my upside.

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