JD.com (JD) Balance Sheet: Assets & Liabilities

JD.com (JD) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), JD.com reported total assets of CNY 695.20B and total liabilities of CNY 401.42B. Shareholders' equity was CNY 293.78B, down 6.2% from CNY 313.30B a year earlier. Total debt stood at CNY 70.49B against CNY 213.23B in cash and short-term investments, a net cash position of CNY 142.75B. That puts debt-to-equity at 0.24, compared with 0.20 a year earlier.

JD.com Balance Sheet Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for JD.com, Inc. (JD) - Annual data in billions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	137.49	108.35	71.89	78.86	70.77	86.09	5.73	34.26	25.69
Short-Term Investments	75.74	125.65	118.25	141.10	114.56	60.58	3.53	2.04	8.59
Cash & Short-Term Investments	213.23	234.00	190.15	219.96	185.33	146.66	9.26	36.30	34.28
Accounts Receivable	27.33	25.60	22.42	26.72	11.90	14.46	1.72	14.25	32.29
Inventory	95.43	89.33	68.06	77.95	75.60	58.93	8.40	44.03	41.70
Other Current Assets	36.29	32.98	27.19	26.45	11.46	15.43	0.59	7.56	6.76
Total Current Assets	374.42	386.70	307.81	351.07	299.67	234.80	19.97	104.86	115.03
Non-Current Assets
Property, Plant & Equipment (Net)	128.98	113.43	100.82	88.51	58.75	45.99	5.04	27.64	15.77
Long-Term Investments	103.82	116.22	137.59	69.25	63.22	97.59	8.18	47.26	28.58
Goodwill	26.29	25.71	19.98	23.12	12.43	10.90	0.95	6.64	6.65
Intangible Assets	44.60	44.63	46.50	42.99	20.17	17.59	0.59	15.49	13.74
Other Non-Current Assets	17.09	11.55	14.52	18.77	21.80	14.39	2.54	7.18	4.12
Total Non-Current Assets	320.98	311.54	321.15	244.18	196.84	187.49	17.32	104.31	69.03
Total Assets	695.20	698.23	628.96	595.25	496.51	422.29	37.29	209.16	184.05
Current Liabilities
Accounts Payable	189.00	194.23	166.17	160.61	140.48	85.14	12.98	79.99	74.34
Short-Term Debt	8.01	7.58	12.79	19.83	4.37	3.26	0.52	4.54	12.88
Current Portion of Long-Term Debt	3.51	-	-	-	-	3.26	-	-	-
Accrued Liabilities	50.05	45.99	43.53	42.57	11.48	33.39	-	-	-
Deferred Revenue	39.09	34.53	33.72	37.06	32.56	24.42	2.79	15.00	15.20
Other Current Liabilities	7.01	9.59	45.66	43.13	20.84	19.27	1.80	20.51	15.17
Total Current Liabilities	306.07	299.52	265.65	266.56	221.64	174.02	20.10	120.86	118.25
Non-Current Liabilities
Long-Term Debt	62.47	56.48	55.64	45.21	9.39	12.53	2.24	9.87	10.92
Deferred Tax Liabilities	8.02	9.50	9.27	6.51	1.90	1.92	0.19	0.83	0.88
Other Non-Current Liabilities	9.17	10.84	1.06	1.74	1.79	0.33	0.03	0.31	2.49
Total Non-Current Liabilities	95.35	85.42	66.93	54.57	28.09	26.65	2.74	11.47	13.42
Total Liabilities	401.42	384.94	332.58	321.13	249.72	200.67	22.84	132.34	131.67
Stockholders' Equity
Common Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Retained Earnings	92.57	83.26	44.05	29.30	33.81	38.95	-1.71	-24.04	-22.23
Accumulated Other Comprehensive Income	-1.18	1.42	7.01	2.51	-4.50	-3.55	0.44	4.76	2.48
Treasury Stock	7.87	27.74	3.41	2.49	2.97	-	-	-	-
Additional Paid-in Capital	225.18	182.40	180.80	181.55	182.58	152.14	13.02	79.05	71.80
Minority Interest	68.79	73.95	64.52	60.76	37.87	34.08	2.69	17.06	0.35
Shares Outstanding	2.74	2.90	3.14	3.14	3.11	-	-	-	-
Total Stockholders' Equity	293.78	313.30	231.86	213.37	208.91	221.62	11.75	59.77	52.04
Total Liabilities & Equity	695.64	698.23	628.96	595.25	496.51	422.29	37.29	209.16	184.05

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About JD.com Balance Sheet

How much debt does JD.com have?

JD.com had total debt of CNY 70.49B as of Dec 31, 2025, against CNY 213.23B in cash and short-term investments. Its debt-to-equity ratio was 0.24. Total debt was CNY 64.06B a year earlier.

What are JD.com's total assets?

JD.com reported total assets of CNY 695.20B as of Dec 31, 2025, down 0.4% from CNY 698.23B a year earlier. Total liabilities were CNY 401.42B.

What is JD.com's shareholders' equity?

JD.com's shareholders' equity was CNY 293.78B as of Dec 31, 2025, or about CNY 107.15 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition