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Vipshop Holdings Limited

Vipshop Holdings Limited

NYSE•VIPS
CEO: Mr. Ya Shen
Sector: Consumer Cyclical
Industry: Specialty Retail
Listing Date: 2012-03-23
Vipshop Holdings Limited operates online platforms in the People's Republic of China. It operates in Vip.com, Shan Shan Outlets, and Others segments. The company offers womenswear, menswear, sportswear and sporting goods, shoes and bags, accessories, baby and children products, skincare and cosmetics, home goods and other lifestyle products, and supermarket products. It also provides internet finance services, including consumer and supplier financing. In addition, the company engages in warehousing, retail business, product procurement, and software development and information technology support activities. The company provides branded products through its vip.com and vipshop.com online platforms, as well as through retail stores. Vipshop Holdings Limited was founded in 2008 and is headquartered in Guangzhou, the People's Republic of China.
Contact Information
128 Dingxin Road, Haizhu District, Guangzhou, 510220, China
86-20-2233-0025
www.vip.com
Market Cap
$10.17B
P/E (TTM)
10.4
42.1
Dividend Yield
2.4%
52W High
$21.08
52W Low
$12.14
52W Range
89%
Rank25Top 8.6%
6.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$2.99B+3.36%
4-Quarter Trend

EPS

$0.35+24.00%
4-Quarter Trend

FCF

$0.00+0.00%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Gross Margin Improvement Gross margin rose to 23.5% in 2024 from 22.8% in 2023, driven by product category optimization efforts.
2024 Net Income RMB 7.74B Net income attributable to shareholders was RMB 7.74 B in 2024, slightly down from RMB 8.20 B recorded in 2023.
GMV Growth Slows Slightly Total GMV reached RMB 209.3 B in 2024, marking a 0.6% increase over RMB 208.0 B recorded in 2023.
New Annual Dividend Policy Adopted annual cash dividend policy in February 2024; declared US$0.43 per ADS dividend paid in April 2024.

Risk Factors

PRC Regulatory Structure Uncertainty Reliance on VIE contractual arrangements carries unique risks; enforceability has not been tested in Chinese courts.
Customer Base Fluctuation Active customers decreased to 84.7 M in 2024 from 87.4 M in 2023, reflecting intense market competition.
Inventory Return Rate Impact Higher product return rates increase inventory balance and fulfillment costs, potentially hurting working capital.
HFCAA Trading Prohibition Risk Future PCAOB inspection failures could lead to ADSs being prohibited from trading on U.S. exchanges.

Outlook

Technology Investment Focus Plan continued investment in large model and AIGC technologies to enhance user experience and operational efficiency.
Brand Partner Relationship Focus Strategy centers on strengthening ties with 30,000 brand partners and expanding diverse product category offerings.
2025 Capital Expenditure Decrease Expect capital expenditures to decrease for 2025 compared to recent years, supporting business growth funding.
ESG Carbon Neutrality Goal Pledged to achieve carbon neutrality in own operations and reduce Scope 3 emission intensity by 50% by 2030.

Peer Comparison

Revenue (TTM)

Murphy USA Inc.MUSA
$19.35B
-6.1%
MGM Resorts InternationalMGM
$17.28B
+0.1%
The Gap, Inc.GAP
$15.28B
+0.3%

Gross Margin (Latest Quarter)

MINISO Group Holding LimitedMNSO
44.7%
-0.2pp
The Gap, Inc.GAP
42.4%
-0.3pp
Dillard's, Inc.DDS
41.2%
-2.3pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
W$12.68B-38.911.8%115.7%
DDS$10.66B18.330.5%12.8%
MGM$10.22B146.22.4%63.6%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-13.5%
Growth Under Pressure
4Q Net Income CAGR
-20.6%
Declining Profitability
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Next earnings:Feb 20, 2026
|
EPS:$0.85
|
Revenue:-
Reports
All Years

  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Apr 17, 2025|
    Revenue: $15.07B-3.9%
    |
    EPS: $2.03-0.5%
    Beat

  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Apr 18, 2024|
    Revenue: $15.94B+9.4%
    |
    EPS: $2.07+48.1%
    Beat

  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Apr 19, 2023|
    Revenue: $15.32B-11.9%
    |
    EPS: $1.47+43.9%
    Beat

  • Form 20-F - FY 2021

    Period End: Dec 31, 2021|Filed: Apr 27, 2022|
    Revenue: $18.15B+14.9%
    |
    EPS: $1.07-21.4%
    Miss

  • Form 20-F - FY 2020

    Period End: Dec 31, 2020|Filed: Apr 16, 2021|
    Revenue: $14.76B+9.5%
    |
    EPS: $1.27+45.3%
    Meet