InsiderClue
Stocks · Consumer discretionary · Retail-Catalog & Mail-Order Houses

Vipshop Holdings Ltd

VIPS Clue Score55
Fiscal year ends December CIK 0001529192
$12.90 +1.42% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $12.90 +15.38% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue56.59Operating income2.71Net income1.99EPS, diluted16.86Fiscal year 2017Revenue72.91 +28.8%Operating income2.69Net income1.89 −5.0%EPS, diluted15.94 −5.5%Fiscal year 2018Revenue84.52 +15.9%Operating income2.42Net income2.13 +12.7%EPS, diluted15.61 −2.1%Fiscal year 2019Revenue92.99 +10.0%Operating income4.77Net income3.99 +86.9%EPS, diluted29.58 +89.5%Fiscal year 2020Revenue101.86 +9.5%Operating income5.86Net income5.92 +48.5%EPS, diluted42.79 +44.7%Fiscal year 2021Revenue117.06 +14.9%Operating income5.58Net income4.69 −20.7%EPS, diluted33.74 −21.1%Fiscal year 2022Revenue103.15 −11.9%Operating income6.20Net income6.31 +34.5%EPS, diluted49.15 +45.7%Fiscal year 2023Revenue112.86 +9.4%Operating income9.10Net income8.20 +29.9%EPS, diluted72.11 +46.7%Fiscal year 2024Revenue108.42 −3.9%Operating income9.17Net income7.84 −4.4%EPS, diluted71.76 −0.5%Fiscal year 2025Revenue105.92 −2.3%Operating income8.14Net income1.04 −86.8%EPS, diluted70.74 −1.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 56.59 72.91 84.52 92.99 101.86 117.06 103.15 112.86 108.42 105.92
Growth +28.8% +15.9% +10.0% +9.5% +14.9% −11.9% +9.4% −3.9% −2.3%
Operating income 2.71 2.69 2.42 4.77 5.86 5.58 6.20 9.10 9.17 8.14
Net income 1.99 1.89 2.13 3.99 5.92 4.69 6.31 8.20 7.84 1.04
Growth −5.0% +12.7% +86.9% +48.5% −20.7% +34.5% +29.9% −4.4% −86.8%
EPS, diluted 16.86 15.94 15.61 29.58 42.79 33.74 49.15 72.11 71.76 70.74
Growth −5.5% −2.1% +89.5% +44.7% −21.1% +45.7% +46.7% −0.5% −1.4%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin24.0%Operating margin4.8%Net margin3.5%Free cash flow margin1.5%Fiscal year 2017Gross margin22.3%Operating margin3.7%Net margin2.6%Free cash flow margin−1.7%Fiscal year 2018Gross margin20.2%Operating margin2.9%Net margin2.5%Free cash flow margin3.8%Fiscal year 2019Gross margin22.2%Operating margin5.1%Net margin4.3%Free cash flow margin9.7%Fiscal year 2020Gross margin20.9%Operating margin5.8%Net margin5.8%Free cash flow margin9.4%Fiscal year 2021Gross margin19.7%Operating margin4.8%Net margin4.0%Free cash flow margin3.4%Fiscal year 2022Gross margin21.0%Operating margin6.0%Net margin6.1%Free cash flow margin7.8%Fiscal year 2023Gross margin22.8%Operating margin8.1%Net margin7.3%Free cash flow margin10.9%Fiscal year 2024Gross margin23.5%Operating margin8.5%Net margin7.2%Free cash flow margin5.9%Fiscal year 2025Gross margin23.1%Operating margin7.7%Net margin1.0%Free cash flow margin5.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 24.0% 22.3% 20.2% 22.2% 20.9% 19.7% 21.0% 22.8% 23.5% 23.1%
Operating margin 4.8% 3.7% 2.9% 5.1% 5.8% 4.8% 6.0% 8.1% 8.5% 7.7%
Net margin 3.5% 2.6% 2.5% 4.3% 5.8% 4.0% 6.1% 7.3% 7.2% 1.0%
Free cash flow margin 1.5% −1.7% 3.8% 9.7% 9.4% 3.4% 7.8% 10.9% 5.9% 5.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow2.83Capital expenditure−1.97Free cash flow0.86Buybacks−0.19Fiscal year 2017Operating cash flow0.98Capital expenditure−2.20Free cash flow−1.22 −240.8%Fiscal year 2018Operating cash flow5.75Capital expenditure−2.52Free cash flow3.23Fiscal year 2019Operating cash flow12.29Capital expenditure−3.30Free cash flow8.99 +178.6%Fiscal year 2020Operating cash flow11.82Capital expenditure−2.24Free cash flow9.58 +6.6%Fiscal year 2021Operating cash flow6.74Capital expenditure−2.73Free cash flow4.01 −58.1%Buybacks−1.94Fiscal year 2022Operating cash flow10.52Capital expenditure−2.43Free cash flow8.09 +101.6%Buybacks−6.26Fiscal year 2023Operating cash flow14.41Capital expenditure−2.17Free cash flow12.25 +51.4%Buybacks−5.11Fiscal year 2024Operating cash flow9.13Capital expenditure−2.72Free cash flow6.41 −47.7%Buybacks−3.87Dividends paid−1.68Fiscal year 2025Operating cash flow7.45Capital expenditure−1.99Free cash flow5.47 −14.6%Buybacks−4.94Dividends paid−1.80
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 2.83 0.98 5.75 12.29 11.82 6.74 10.52 14.41 9.13 7.45
Capital expenditure −1.97 −2.20 −2.52 −3.30 −2.24 −2.73 −2.43 −2.17 −2.72 −1.99
Free cash flow 0.86 −1.22 3.23 8.99 9.58 4.01 8.09 12.25 6.41 5.47
Growth −240.8% +178.6% +6.6% −58.1% +101.6% +51.4% −47.7% −14.6%
Buybacks −0.19 n/a n/a n/a n/a −1.94 −6.26 −5.11 −3.87 −4.94
Dividends paid n/a n/a n/a n/a n/a n/a n/a n/a −1.68 −1.80

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash4.11Shareholders’ equity5.73Fiscal year 2017Cash9.97Shareholders’ equity14.29Fiscal year 2018Cash9.54Shareholders’ equity17.26Fiscal year 2019Cash6.57Total debt0.06Net cash (debt)6.51Shareholders’ equity21.83Debt to equity0.00Fiscal year 2020Cash12.00Shareholders’ equity28.50Fiscal year 2021Cash16.30Shareholders’ equity32.63Fiscal year 2022Cash21.94Shareholders’ equity32.75Fiscal year 2023Cash25.41Shareholders’ equity36.96Fiscal year 2024Cash26.35Shareholders’ equity39.97Fiscal year 2025Cash22.99Shareholders’ equity41.00
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 4.11 9.97 9.54 6.57 12.00 16.30 21.94 25.41 26.35 22.99
Total debt n/a n/a n/a 0.06 n/a n/a n/a n/a n/a n/a
Net cash (debt) n/a n/a n/a 6.51 n/a n/a n/a n/a n/a n/a
Shareholders’ equity 5.73 14.29 17.26 21.83 28.50 32.63 32.75 36.96 39.97 41.00
Debt to equity n/a n/a n/a 0.00 n/a n/a n/a n/a n/a n/a

In billions of CNY, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In billions of CNY, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Assets
4.11 9.97 9.54 6.57 12.00 16.30 21.94 25.41 26.35 22.99
2.33 4.80 5.67 1.30 0.33 0.46 0.57 0.78 0.92 0.89
4.95 6.96 5.37 7.71 7.64 6.87 5.52 5.64 5.03 5.15
4.47 6.66 8.53 11.26 13.58 14.38 16.23 16.88 18.29 18.31
0.37 0.37 0.37 0.24 0.59 0.59 0.76 0.76 0.76 0.76
25.09 37.98 43.56 48.58 58.94 62.29 65.48 72.32 74.94 78.84
Growth +51.4% +14.7% +11.5% +21.3% +5.7% +5.1% +10.5% +3.6% +5.2%
Liabilities
n/a n/a n/a 0.06 n/a n/a n/a n/a n/a n/a
calc n/a n/a n/a 0.06 n/a n/a n/a n/a n/a n/a
19.31 23.73 26.35 26.33 29.56 28.46 31.40 33.76 33.39 34.40
Equity
3.65 5.60 7.91 11.92 17.74 22.42 28.72 36.84 42.91 48.59
5.73 14.29 17.26 21.83 28.50 32.63 32.75 36.96 39.97 41.00
Growth +149.4% +20.8% +26.4% +30.6% +14.5% +0.4% +12.9% +8.1% +2.6%
Per share and net cash
calc n/a n/a n/a 6.51 n/a n/a n/a n/a n/a n/a

Lines marked calc are worked out here from filed figures; point at one for how. Shown in CNY as filed; the screener converts to dollars.