6 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings, in CNY as reported — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has declined 3.1% per year over the past 5 years.
Net income has grown slower than revenue (-5.5% vs -3.1% per year).
Operating margin has been roughly flat, at 7.7% in the latest year.
Free cash flow has declined 33.2% per year over the past 5 years.
Financial health
Operating income covered interest expense 90× in the latest year, down from 397× 5 years ago.
Shareholder returns
Dividends have been paid for 2 consecutive years, consuming 24.8% of earnings and 32.8% of free cash flow.
The dividend has grown 6.6% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
CN¥105.9B
CN¥7.2B
23.1%
7.7%
17.7%
9.2%
CN¥5.5B
—
CN¥23.0B
2024
CN¥108.4B
CN¥7.7B
23.5%
8.5%
19.4%
10.3%
CN¥6.4B
—
CN¥26.4B
2023
CN¥112.9B
CN¥8.1B
22.8%
8.1%
22.0%
11.2%
CN¥12.2B
—
CN¥25.4B
2015
—
CN¥1.5B
—
—
42.6%
7.5%
-CN¥268M
—
CN¥3.3B
2014
—
CN¥753M
—
—
29.5%
4.4%
—
—
CN¥4.8B
2013
—
CN¥321M
—
—
—
—
—
—
CN¥2.0B
Frequently asked questions
Is VIPS growing its revenue and profit?
Over the past 5 years, Vipshop Holdings Ltd's revenue has declined 3.1% per year, and net income declined 5.5% per year. These are computed facts, not advice.
How much debt does VIPS have?
As of FY2025, Vipshop Holdings Ltd reported — of total debt against CN¥23.0B of cash; operating income covered interest expense 90×.
What is VIPS's profit margin?
In FY2025, gross margin was 23.1%, operating margin 7.7%, and net margin 6.8%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — its annual and interim reports, in CNY as reported (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (annual and interim filings, reported in CNY) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.