Vipshop Holdings Ltd balance sheet

At the end of fiscal 2025, Vipshop Holdings Ltd had total assets of $11.27bn, total liabilities of $4.92bn and shareholders' equity of $5.86bn. It held $3.29bn in cash against $914m of debt: net cash of $2.37bn.

Balance sheet

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

Vipshop Holdings Ltd: balance sheet, annual
Fiscal year	2010Dec 2010	2011Dec 2011	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 and equivalents	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
Receivables	—	—	—	—	0.0	0.1	0.3	0.8	0.8	0.2	0.1	0.1	0.1	0.1	0.1	0.1
Inventory	—	—	—	—	0.6	0.7	0.7	0.9	0.8	1.1	1.2	1.1	0.8	0.8	0.7	0.7
Total current assets	—	—	—	—	2.1	1.9	2.1	4.0	4.0	3.3	4.8	5.2	4.9	5.3	5.2	5.7
Goodwill	—	—	—	—	0.0	0.0	0.1	0.1	0.1	0.0	0.1	0.1	0.1	0.1	0.1	0.1
Total assets	—	—	—	—	2.7	3.1	3.6	5.8	6.3	7.0	9.0	9.8	9.5	10.2	10.3	11.3
Accounts payable	—	—	—	—	1.0	1.0	1.2	1.8	1.7	2.0	2.3	2.1	2.2	2.4	2.1	1.8
Deferred revenue (current)	—	—	—	—	0.0	0.0	0.0	0.2	0.2	0.2	0.1	0.1	0.1	0.3	0.4	0.4
Total current liabilities	—	—	—	—	1.6	1.9	2.1	3.0	3.8	3.4	4.1	4.0	4.1	4.3	4.1	4.4
Short-term debt	—	—	—	—	—	0.0	—	0.1	0.2	0.2	0.2	0.3	0.4	0.2	0.3	0.8
Long-term debt	—	—	—	—	0.6	0.6	0.6	0.6	0.6	0.0	—	—	—	—	—	—
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
Total liabilities	—	—	—	—	2.3	2.5	2.8	3.6	3.8	3.8	4.5	4.5	4.6	4.8	4.6	4.9
Shareholders' equity	—	—	0.1	0.2	0.4	0.5	0.8	2.2	2.5	3.1	4.4	5.1	4.7	5.2	5.5	5.9
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	—	—	—	—	—	—	—	—	—	0.2	0.2	0.2	0.5
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
Shares outstanding	—	462m	506m	558m	—	—	—	—	—	—	—	—	—	—	—	—

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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