JD.com annual debt-to-equity ratio
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
JD.com Debt-to-Equity Ratio Growth & History (JD)
JD.com's debt-to-equity ratio was 0.18 for fiscal 2025.
View full JD.com company overviewJD.com annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.18 | 0.04 | +31.34% |
| 2024 | 2024-12-31 | 0.14 | 0.02 | +21.90% |
| 2023 | 2023-12-31 | 0.11 | −0.05 | −30.06% |
| 2022 | 2022-12-31 | 0.16 | 0.04 | +37.72% |
| 2021 | 2021-12-31 | 0.12 | 0.03 | +40.96% |
| 2020 | 2020-12-31 | 0.08 | −0.02 | −21.07% |
| 2019 | 2019-12-31 | 0.11 | 0.05 | +96.71% |
| 2018 | 2018-12-31 | 0.05 | 0.05 | +1308.64% |
| 2017 | 2017-12-31 | 0.00 | −0.24 | −98.44% |
| 2016 | 2016-12-31 | 0.25 | — | — |
JD.com quarterly debt-to-equity ratio
Q4.16
Q4.17
Q4.18
Q3.19
Q4.19
Q4.20
Q4.21
Q4.22
Q4.23
Q4.24
Q4.25
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q4 2025 | 2025-12-31 | 0.18 | 0.04 | +31.34% |
| Q4 2024 | 2024-12-31 | 0.14 | 0.02 | +21.90% |
| Q4 2023 | 2023-12-31 | 0.11 | −0.05 | −30.06% |
| Q4 2022 | 2022-12-31 | 0.16 | 0.04 | +37.72% |
| Q4 2021 | 2021-12-31 | 0.12 | 0.03 | +40.96% |
| Q4 2020 | 2020-12-31 | 0.08 | −0.02 | −21.07% |
| Q4 2019 | 2019-12-31 | 0.11 | 0.05 | +96.71% |
| Q3 2019 | 2019-09-30 | 0.12 | — | — |
| Q4 2018 | 2018-12-31 | 0.05 | 0.05 | +1308.64% |
| Q4 2017 | 2017-12-31 | 0.00 | −0.24 | −98.44% |
| Q4 2016 | 2016-12-31 | 0.25 | — | — |
JD.com debt-to-equity ratio trends
Over the last five fiscal years, JD.com's debt-to-equity ratio increased from 0.08 to 0.18, a change of 0.10. The latest reported quarter, Q4 2025, shows 0.18.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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