Vipshop Holdings Limited
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $15.15B | $14.85B | $15.90B | $14.96B | $18.37B | $15.61B | $13.36B | $12.29B |
| Cost of Revenue | $11.64B | $11.36B | $12.27B | $11.82B | $14.74B | $12.35B | $10.39B | $9.81B |
| Gross Profit | $3.50B | $3.49B | $3.62B | $3.13B | $3.63B | $3.26B | $2.97B | $2.48B |
| Gross Margin | 23.1% | 23.5% | 22.8% | 21.0% | 19.7% | 20.9% | 22.2% | 20.2% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $625.5M | $547.0M | $584.0M | $646.6M | $657.5M | $574.5M | $583.8M | $388.9M |
| Operating Income | $1.16B | $1.26B | $1.28B | $898.5M | $876.0M | $898.1M | $685.7M | $352.1M |
| Operating Margin | 7.7% | 8.5% | 8.1% | 6.0% | 4.8% | 5.8% | 5.1% | 2.9% |
| Interest Expense | $12.9M | $7.9M | $3.2M | $3.5M | $2.3M | $10.3M | $12.4M | $23.2M |
| Pretax Income | $1.27B | — | — | — | — | $1.08B | $710.0M | $399.5M |
| Income Tax Expense | $257.2M | $317.2M | $262.8M | $255.0M | $191.9M | $173.2M | $141.3M | $82.4M |
| Net Income | $1.04B | $1.07B | $1.16B | $915.1M | $736.4M | $907.2M | $572.6M | $310.3M |
| Net Margin | 6.8% | 7.2% | 7.3% | 6.1% | 4.0% | 5.8% | 4.3% | 2.5% |
| EPS (Basic) | $10.35 | $10.00 | $10.33 | $7.18 | $5.39 | $6.70 | $4.32 | $2.34 |
| EPS (Diluted) | $10.12 | $9.83 | $10.16 | $7.13 | $5.29 | $6.56 | $4.25 | $2.27 |
| Shares Outstanding (Basic) | 100.1M | 106.1M | 110.7M | 127.2M | 136.2M | 135.1M | 133.5M | 132.3M |
| Shares Outstanding (Diluted) | 102.4M | 107.9M | 112.6M | 128.2M | 138.7M | 138.0M | 136.1M | 140.1M |
| Dividends Per Share | — | — | — | — | — | — | — | — |