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JD.com reported a significant growth in its customer base, with quarterly active customers rising over 40% year over year during Q3 2025. The total net revenues for the company reached RMB 299.1 billion, a 14.9% increase year over year, supported by sustained merchant activity and increased shopping frequency.
As of October 2025, JD.com has surpassed 700 million annual active customers. However, despite this growth, the company’s shares have declined by 12% over the past six months, underperforming the broader retail sector. The Zacks Consensus Estimate for JD’s 2025 revenues is projected at $186.3 billion, which reflects a 15.8% year-over-year increase.
JD.com currently has a forward 12-month price-to-earnings ratio of 9.73X, significantly lower than the industry average of 24.36X. The consensus estimate for JD’s earnings in 2025 is $2.82 per share, suggesting a 33.8% decline year over year.
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