Jd.com, Inc. cash flow statement

In fiscal 2025, Jd.com, Inc.'s operations generated $2.64bn of cash; it spent $1.09bn on capital projects, leaving free cash flow of $1.55bn. It returned $1.44bn in dividends and $2.98bn through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Jd.com, Inc.: cash flow statement, annual
Fiscal year	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	222	581	209	270	1,242	3,976	3,164	3,589	6,166	6,558	8,610	8,412	8,074	2,643
Depreciation and amortisation	29	48	268	399	515	621	843	844	880	966	1,078	1,172	1,238	1,356
Stock-based pay	36	42	690	171	311	412	555	535	602	1,416	1,124	679	417	658
Capital spending	22	120	168	245	205	484	1,115	376	488	862	818	569	744	1,089
Free cash flow	201	461	41	25	1,037	3,492	2,049	3,213	5,678	5,696	7,792	7,843	7,330	1,554
Free cash flow after stock pay	165	418	−649	−147	726	3,081	1,495	2,678	5,076	4,280	6,668	7,164	6,913	896
Dividends paid	—	—	—	—	—	—	—	—	0	0	1,949	953	1,148	1,444
Share buybacks	—	—	—	—	804	—	31	19	45	813	271	353	3,601	2,982
Shares issued	249	442	2,832	—	—	—	535	—	4,543	—	—	—	—	—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Jd.com, Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Jd.com, Inc.