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Vipshop Holdings Ltd (VIPS) stock

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NYSE: VIPS NYSE Broadline Retail Next results ~November 19, 2026

B Fundamentals grade

Vipshop Holdings Ltd is a US-listed company in the broadline retail industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$34

Cash-flow model

Base case. Range ~$27–$43 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 154% above it.

Price used: $13.33, November 2, 2026

Vipshop Holdings Ltd valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 4 selling0 purchases and 10 sales by directors and officers, last 12 monthsInsider trades
  • Funds129 adding, 147 cuttingOf 45 active managers that changed their stake, 28 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Vipshop Holdings files

Where Vipshop stands after its latest Filing

Revenue for the twelve months was $14.7bn, down 2.2% on a year earlier, a smaller fall than the 5.5% decline a quarter earlier. Free-cash-flow margin rose to 5.2% from 3.4% a year earlier. Operating margin widened to 7.7% from 4.8%. The diluted share count is down 5.1% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 3 of our 3 financial-health checks. Our cash-flow model value is $33.83 a share, against a share price of $12.88.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 19, 2026 (estimated)

Vipshop Holdings Ltd's trailing-twelve-month revenue fell 2.2% year on year, with a free-cash-flow margin of 5.2%. Where it stands out: change in share count of -5.1% ranks 1 of 22 broadline retail companies we cover. Where it lags: gross margin of 23.1% ranks 19 of 22 broadline retail companies we cover.

Our discounted-cash-flow model values the business at ~$34 per share in the base case (~$27–$43 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to -2.2% (+3.3pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $13.33 is 154% below our value per share of $34.
  • Shrinking share count. Diluted shares fell 5.1% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $3.3bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Revenue shrinking. Revenue fell 2.2% over the last 12 months.
  • Weak cash conversion. Free cash flow was 76% of net income over the last 12 months.
  • Below peers: gross margin. Gross margin of 23.1% ranks 19 of 22 broadline retail companies we cover (median 44.4%).

Latest results

Earnings per share
$4.02 against an average estimate of $3.94: beat by 2.0%
Next report
November 19, 2026

Vipshop Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.5%
  • 1 week+5.5%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$14.7B
Operating margin
7.7%
Net margin
6.8%
EPS (TTM, diluted)
$1.97

Growth

Revenue growth
−2.2%
Change in growth rate
+3.3 pts
Share count change
−5.1%

Cash

Free cash flow (TTM)
$761M
FCF margin
5.2%
Stock pay % of revenue
1.6%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for VIPS from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Vipshop Holdings Ltd valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 19.8% a year for five years.That is slower than the 0.0% a year revenue growth Vipshop Holdings has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in-19.8%
  • Last 12 months-2.2%
  • 3 years a year-1.4%
  • 5 years a year0.0%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($13.29, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$34
Price used
$13.29close November 3, 2026
Implied change
▲ +155%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Vipshop Holdings Ltd's free cash flow after stock-based pay with after-tax interest added back ($880M, FY2025 Q4 TTM), growing 2% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$27–~$43 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Vipshop Holdings Ltd's free cash flow after stock-based pay ( $880M, FY2025 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Vipshop Holdings Ltd as an operating company, with every model that fits that kind of business. Cost of equity 9.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.04 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$34 ~$27–$43 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$25 ~$17–$39 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$32 ~$23–$47 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$28 ~$24–$33 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$30 ~$25–$34 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Vipshop Holdings Ltd with Broadline Retail in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −21%
  • Revenue growth 5 points higher ▲ +27%
  • Free-cash-flow margin 1 point lower ▼ −16%
  • Last year's free-cash-flow margin change, if it persists ▼ −11%
  • Discount rate 1 point higher ▼ −12%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $30$39$51$66$86$113
8.5% $24$31$39$50$65$83
10% $21$26$32$41$52$66

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 19, 2026, before the open.

Analysts' consensus

No analyst estimates are published for Vipshop Holdings Ltd: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $3.94 $4.02 +2.0%
Mar 2026 $4.59 $4.68 +2.0%
Dec 2025 $5.46 $5.66 +3.7%
Sept 2025 $2.91 $2.98 +2.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

21 analysts, Nov 2026
Buy1152%
Hold1048%
Sell00%

Monthly trend

  1. Nov 2026561021
  2. Oct 2026561021
  3. Sep 2026461121

Counts of recommendations published by analysts covering Vipshop Holdings Ltd, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.3%
of tradable shares
Days to cover
2.33
at average volume
Short interest, 1 month
+4%
to October 15, 2026
Held by institutions
67%
of shares
Held by insiders
0.5%
of shares
Employees
15,145
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Options strategies

All options ideas

How Vipshop Holdings Ltd’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Vipshop Holdings Ltd in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Vipshop Holdings Ltd
$0 $5B $10B $15B $20B FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Revenue (TTM), FY14 Q4: $3.8B Revenue (TTM), FY15 Q4: $6.4B Revenue (TTM), FY16 Q4: $8.5B Revenue (TTM), FY17 Q4: $10.8B Revenue (TTM), FY18 Q4: $12.8B Revenue (TTM), FY19 Q4: $13.5B Revenue (TTM), FY20 Q4: $14.8B Revenue (TTM), FY21 Q4: $18.1B Revenue (TTM), FY22 Q4: $15.4B Revenue (TTM), FY23 Q4: $15.9B Revenue (TTM), FY24 Q4: $15.1B Revenue (TTM), FY25 Q4: $14.7B $14.7B

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY14 Q4 $3.8B
FY15 Q4 $6.4B
FY16 Q4 $8.5B
FY17 Q4 $10.8B
FY18 Q4 $12.8B
FY19 Q4 $13.5B
FY20 Q4 $14.8B
FY21 Q4 $18.1B
FY22 Q4 $15.4B
FY23 Q4 $15.9B
FY24 Q4 $15.1B
FY25 Q4 $14.7B
Revenue growth, TTM YoY Vipshop Holdings Ltd
-50% 0% 50% 100% 150% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Revenue growth, TTM YoY, FY14 Q4: 121.4% Revenue growth, TTM YoY, FY15 Q4: 70.5% Revenue growth, TTM YoY, FY16 Q4: 33.2% Revenue growth, TTM YoY, FY17 Q4: 26.6% Revenue growth, TTM YoY, FY18 Q4: 18.7% Revenue growth, TTM YoY, FY19 Q4: 5.1% Revenue growth, TTM YoY, FY20 Q4: 9.6% Revenue growth, TTM YoY, FY21 Q4: 22.9% Revenue growth, TTM YoY, FY22 Q4: -15.4% Revenue growth, TTM YoY, FY23 Q4: 3.8% Revenue growth, TTM YoY, FY24 Q4: -5.5% Revenue growth, TTM YoY, FY25 Q4: -2.2% -2.2%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY14 Q4 121.4%
FY15 Q4 70.5%
FY16 Q4 33.2%
FY17 Q4 26.6%
FY18 Q4 18.7%
FY19 Q4 5.1%
FY20 Q4 9.6%
FY21 Q4 22.9%
FY22 Q4 -15.4%
FY23 Q4 3.8%
FY24 Q4 -5.5%
FY25 Q4 -2.2%
Operating margin (TTM) Vipshop Holdings Ltd
0% 5% 10% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Operating margin (TTM), FY14 Q4: 3.6% Operating margin (TTM), FY15 Q4: 5.2% Operating margin (TTM), FY16 Q4: 4.8% Operating margin (TTM), FY17 Q4: 3.7% Operating margin (TTM), FY18 Q4: 2.9% Operating margin (TTM), FY19 Q4: 5.1% Operating margin (TTM), FY20 Q4: 5.8% Operating margin (TTM), FY21 Q4: 4.8% Operating margin (TTM), FY22 Q4: 6.0% Operating margin (TTM), FY23 Q4: 8.1% Operating margin (TTM), FY24 Q4: 8.5% Operating margin (TTM), FY25 Q4: 7.7% 7.7%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY14 Q4 3.6%
FY15 Q4 5.2%
FY16 Q4 4.8%
FY17 Q4 3.7%
FY18 Q4 2.9%
FY19 Q4 5.1%
FY20 Q4 5.8%
FY21 Q4 4.8%
FY22 Q4 6.0%
FY23 Q4 8.1%
FY24 Q4 8.5%
FY25 Q4 7.7%
FCF margin (TTM) Vipshop Holdings Ltd
-5% 0% 5% 10% 15% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 FCF margin (TTM), FY14 Q4: 7.2% FCF margin (TTM), FY15 Q4: -0.7% FCF margin (TTM), FY16 Q4: 1.5% FCF margin (TTM), FY17 Q4: -1.7% FCF margin (TTM), FY18 Q4: 3.8% FCF margin (TTM), FY19 Q4: 9.7% FCF margin (TTM), FY20 Q4: 9.4% FCF margin (TTM), FY21 Q4: 3.4% FCF margin (TTM), FY22 Q4: 7.8% FCF margin (TTM), FY23 Q4: 10.9% FCF margin (TTM), FY24 Q4: 5.9% FCF margin (TTM), FY25 Q4: 5.2% 5.2%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY14 Q4 7.2%
FY15 Q4 -0.7%
FY16 Q4 1.5%
FY17 Q4 -1.7%
FY18 Q4 3.8%
FY19 Q4 9.7%
FY20 Q4 9.4%
FY21 Q4 3.4%
FY22 Q4 7.8%
FY23 Q4 10.9%
FY24 Q4 5.9%
FY25 Q4 5.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Vipshop Holdings took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $14.7B
  2. Other income $126M · 0.9%
  3. Cost of revenue $11.3B · 76.9%
  4. Gross profit $3.4B · 23.1%
  5. Selling, general and admin $609M · 4.1%
  6. Other operating costs $1.7B · 11.3%
  7. Operating income $1.1B · 7.7%
  8. Income tax $250M · 1.7%
  9. Net income $1B · 6.8%

Shares of revenue. Source: Vipshop Holdings's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

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

Fiscal year 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 0.0 0.2 0.7 1.7 3.8 6.4 8.5 10.8 12.8 13.5 14.8 18.1 15.4 15.9 15.1 14.7
Gross profit 0.0 0.0 0.2 0.4 0.9 1.6 2.0 2.4 2.6 3.0 3.1 3.6 3.2 3.6 3.5 3.4
EBITDA −0.0 −0.1 −0.0 0.1 0.2 0.4 0.5 0.5 0.5 0.8 1.0 1.0 1.1 1.5 1.5 1.3
Operating income −0.0 −0.1 −0.0 0.1 0.1 0.3 0.4 0.4 0.4 0.7 0.8 0.9 0.9 1.3 1.3 1.1
Net income −0.0 −0.1 −0.0 0.1 0.1 0.2 0.3 0.3 0.3 0.6 0.9 0.7 0.9 1.1 1.1 1.0
Diluted EPS −$0.02 — −$0.02 — — $0.42 $0.51 $0.47 $0.47 $0.86 $1.24 $1.05 $1.46 $2.04 $1.99 $1.97
Growth (year on year)
Revenue — +597.1% +204.7% +144.9% +121.4% +70.5% +33.2% +26.6% +18.7% +5.1% +9.6% +22.9% −15.4% +3.8% −5.5% −2.2%
EBITDA — — — — +144.6% +145.5% +33.0% +1.0% −4.2% +67.8% +22.0% +4.6% +6.8% +32.9% +0.1% −8.7%
Operating income — — — — +151.6% +143.6% +23.8% −2.4% −7.9% +88.4% +22.9% +1.9% +6.6% +39.4% −0.9% −11.2%
Net income — — — — +133.8% +96.6% +27.8% −5.9% +11.8% +80.3% +47.2% −15.2% +29.3% +22.3% −6.2% −6.3%
Diluted EPS — — — — — — +20.6% −7.1% +0.2% +81.1% +44.8% −15.7% +39.9% +39.2% −2.1% −1.3%
Margins
Gross margin 9.8% 19.1% 22.3% 24.0% 24.9% 24.6% 24.0% 22.3% 20.2% 22.2% 20.9% 19.7% 21.0% 22.8% 23.5% 23.1%
EBITDA margin −25.4% −46.5% −1.1% 3.7% 4.1% 5.9% 5.9% 4.7% 3.8% 6.0% 6.7% 5.7% 7.2% 9.2% 9.8% 9.1%
Operating margin −25.7% −47.1% −1.7% 3.2% 3.6% 5.2% 4.8% 3.7% 2.9% 5.1% 5.8% 4.8% 6.0% 8.1% 8.5% 7.7%
Net margin −25.7% −47.2% −1.4% 3.1% 3.3% 3.8% 3.6% 2.7% 2.5% 4.3% 5.8% 4.0% 6.1% 7.2% 7.1% 6.8%
Free-cash-flow margin −24.8% −3.6% 14.3% 24.0% 7.2% −0.7% 1.5% −1.7% 3.8% 9.7% 9.4% 3.4% 7.8% 10.9% 5.9% 5.2%
Cash flow
Cash from operations −0.0 0.0 0.1 0.4 0.5 0.3 0.4 0.1 0.9 1.8 1.7 1.0 1.6 2.0 1.3 1.0
Capital spending 0.0 0.0 0.0 0.0 0.3 0.3 0.3 0.3 0.4 0.5 0.3 0.4 0.4 0.3 0.4 0.3
Free cash flow −0.0 −0.0 0.1 0.4 0.3 −0.0 0.1 −0.2 0.5 1.3 1.4 0.6 1.2 1.7 0.9 0.8
Stock-based pay — 0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2
Free cash flow after stock pay — −0.1 0.1 0.4 0.2 −0.1 0.1 −0.3 0.4 1.2 1.3 0.5 1.0 1.5 0.7 0.5
Balance sheet
Cash 0.0 0.0 0.1 0.3 0.8 0.5 0.6 1.5 1.4 0.9 1.8 2.6 3.2 3.6 3.6 3.3
Total debt — — — 0.0 0.6 0.6 0.6 0.8 1.5 0.2 0.2 0.5 0.6 0.3 0.3 0.9
Net debt (negative = net cash) −0.0 −0.0 −0.1 −0.3 −0.2 0.1 0.0 −0.8 0.1 −0.8 −1.7 −2.0 −2.6 −3.3 −3.3 −2.4
Diluted shares 478m 463m 444m 577m 601m 601m 629m 629m 700m 680m 690m 694m 641m 563m 539m 512m
Returned to shareholders
Dividends — — — — — — — — — — — — — — 0.2 0.2
Buybacks — 0.0 — — — 0.1 0.0 — — — — 0.3 0.9 0.7 0.5 0.7
Total returned — 0.0 — — — 0.1 0.0 — — — — 0.3 0.9 0.7 0.8 0.9

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Older annual columns retain the reporting standard and currency used in those filings, translated separately to USD. Current filings replace overlapping periods. Reporting changes can affect comparability; older bases are not used to fill current valuation inputs.

Financial health

3 of 3 checks passed · December 31, 2025
What it owns · $11.3bn
Short-term assets $5.7bnLonger-term assets $5.6bn
What it owes, and who funded it · $10.8bn
Short-term liabilities $4.4bnLonger-term liabilities $503mShareholders' equity $5.9bn
  • Short-term assets cover short-term liabilities $5.7bn of assets due within a year against $4.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $5.7bn short-term assets against $503m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $1.1bn against $13m of interest.

From Vipshop Holdings Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$687M
Dividends (TTM)
$250M
Returned to shareholders
123%
of free cash flow
Buybacks, last 3 fiscal years
$1.9B
Diluted share count
−5.1%
year over year
Total shareholder yield
13.7%
dividends 3.7% + buybacks 10.1% of market value
Dividend payout ratio
25%
of net income paid out
Days sales outstanding
3 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in broadline retail
Last 12 months unless stated VIPS KSS EBAY M DDS CPNG Median
Revenue, last 12 months $14.7bn $15.4bn $12.4bn $22.8bn $6.6bn $35.5bn $2.8bn
Revenue growth, last 12 months −2.2% −2.9% 15.7% 0.3% 0.2% 9.9% 4.4%
Revenue growth, 3-year average 105.6% −4.6% 7.2% −2.4% −1.7% 17.1% 9.1%
Revenue growth, latest quarter — −0.9% 13.7% 1.2% −0.4% 3.9% 9.1%
Gross margin 23.1% 41.2% 72.2% 40.7% 39.8% 28.4% 44.4%
Operating margin 7.7% 3.8% 20.3% 5.0% — −1.8% 2.5%
Operating margin, 3-year average 5.4% 3.8% 20.7% 3.3% — 0.4% 2.8%
Net margin 6.8% 1.7% 16.9% 3.3% 10.3% −2.2% 1.7%
Cash from operations / revenue 7.0% 8.8% 24.6% 7.7% 11.0% 4.0% 4.0%
Free-cash-flow margin 5.2% 6.7% 19.5% 6.2% 9.6% 0.3% 2.1%
Free-cash-flow margin, 3-year average 2.3% 4.6% 15.8% 4.4% 9.7% 2.7% 3.0%
Stock pay / revenue 1.6% 0.2% 5.4% 0.3% — 1.5% 0.7%
Change in share count −5.1% 2.4% −3.7% −2.4% −9.5% −0.6% −0.4%

Median of all 23 companies we cover in broadline retail. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

23 broadline retail companies
Measure Company Peer median Rank
Revenue growth Growth -2.2% 4.4% 17 of 23
Change in growth rate Growth +3.3pp +0.9pp 8 of 23
Gross margin Profitability 23.1% 44.4% 19 of 22
Operating margin Profitability 7.7% 3.6% 6 of 22
Net margin Profitability 6.8% 1.7% 8 of 23
Free-cash-flow margin Cash generation 5.2% 2.1% 8 of 23
Stock pay as % of revenue Cash generation 1.6% 0.8% 16 of 22
Change in share count Balance sheet -5.1% 0.1% 1 of 22
Days sales outstanding Balance sheet 3 days 13 days 1 of 14

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$3.3B
Institutions reporting
285
Shares held vs prior quarter
▼ 3.0%
Positions opened / closed
40 / 29

Top buyers and sellers, Q2 2026: 129 institutions bought and 147 sold ; the biggest buyer was Ranmore Fund Management Ltd (+3.9M shares) and the biggest seller UBS Group AG (−4.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Fil Ltd $346M 26.1M 10.4% ▲ 4.7%
Blackrock, Inc. $253M 19.1M 7.6% ▼ 15.1%
Invesco Ltd. $246M 18.5M 7.4% ▼ 2.4%
Acadian Asset Management LLC $199M 15.0M 6.0% ▼ 5.9%
Robeco Institutional Asset Management B.V. $181M 13.7M 5.4% ▲ 9.4%
Krane Funds Advisors LLC $137M 10.3M 4.1% ▼ 9.7%
Dimensional Fund Advisors LP $109M 8.2M 3.3% ▼ 4.3%
Vanguard Capital Management LLC $90.2M 6.8M 2.7% ▼ 3.8%
State Street Corp $89.2M 6.7M 2.7% ▼ 4.7%
LSV Asset Management $86.3M 6.5M 2.6% ▲ 5.4%
Carmignac Gestion $65.2M 4.9M 2.0% ▲ 9.8%
Capitalatwork S.A. $60.5M 4.6M 1.8% ▲ 2.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Vipshop Holdings Ltd's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $950,868 10 trades by 4 insiders · 0% under pre-set plans
Net ▼ $950,868 net selling
Insider Date Trade Shares Price Value
Liu Chun Director October 13, 2026 Sell 181 $63.85 $11,557
Li Tianmin Chief Technology Officer October 13, 2026 Sell 2,394 $64.06 $153,356
Yang Donghao Director September 8, 2026 Sell 479 $64.80 $31,039
Wang Yuhua Chief Financial Officer September 8, 2026 Sell 2,499 $64.95 $162,310
Liu Chun Director July 7, 2026 Sell 174 $67.31 $11,712
Li Tianmin Chief Technology Officer July 7, 2026 Sell 2,518 $67.45 $169,839
Wang Yuhua Chief Financial Officer June 9, 2026 Sell 2,589 $69.12 $178,952
Yang Donghao Director June 9, 2026 Sell 397 $69.30 $27,512
Li Tianmin Chief Technology Officer April 8, 2026 Sell 2,482 $77.88 $193,298
Liu Chun Director April 8, 2026 Sell 145 $77.88 $11,293

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Vipshop Holdings Ltd was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Vipshop Holdings Ltd in brief

What does Vipshop Holdings Ltd do?
Vipshop Holdings Ltd is a US-listed company in the broadline retail industry. Its financial year ends in December.
What is Vipshop Holdings Ltd's stock ticker?
Vipshop Holdings Ltd trades under the ticker VIPS on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Vipshop Holdings Ltd's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Vipshop Holdings Ltd reported revenue of $14.7B, 2.2% lower than a year earlier, according to its SEC filings.
What is Vipshop Holdings Ltd's free cash flow?
Vipshop Holdings Ltd's free-cash-flow margin is 5.2% of revenue over the trailing twelve months, ranking 8 of the 23 broadline retail companies we cover.
What is Vipshop Holdings Ltd's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Vipshop Holdings Ltd's free cash flow after stock-based pay gives ~$34 per share in the base case, and ~$27–$43 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Vipshop Holdings Ltd's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Fil Ltd, Blackrock, Inc. and Invesco Ltd. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Vipshop Holdings Ltd buying back stock, and does it pay a dividend?
Vipshop Holdings Ltd spent $687M on share repurchases over the trailing twelve months, and its diluted share count fell 5.1% over the year.
Does Vipshop Holdings Ltd pay a dividend?
Yes: Vipshop Holdings Ltd paid $250M in dividends over the trailing twelve months, a dividend yield of 3.66% and a payout ratio of 24.8%.
Who are Vipshop Holdings Ltd's competitors?
In our Broadline Retail peer group, the companies closest to Vipshop Holdings Ltd are Kohls Corp, eBay Inc., Macy's, Inc., Dillard's, Inc. and Coupang, Inc. The side-by-side comparison below sets their revenue, margins and growth against Vipshop Holdings Ltd's.
Are insiders buying or selling Vipshop Holdings Ltd stock?
Over the last 12 months, Vipshop Holdings Ltd's directors and officers reported 0 open-market purchases and 10 sales on Form 4. The insider trading page charts every trade.
When is Vipshop Holdings Ltd's next earnings date?
Around November 19, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Vipshop Holdings Ltd announces its own schedule.