Added to YB: 2026-01-08
Pitch date: 2026-01-07
JD [neutral]
JD.com, Inc.
+13.16%
current return
Author Info
Beating The Tide is sharing insights from 14 years of beating the market, blending deep analysis with real-world experience. Sign up for the newsletter.
Company Info
JD.com, Inc. operates as a supply chain-based technology and service provider in the People’s Republic of China and Europe.
Market Cap
$309.7B
Pitch Price
$109.14
Price Target
46.00 (-63%)
Dividend
2.96%
EV/EBITDA
7.85
P/E
25.15
EV/Sales
0.17
Sector
Broadline Retail
Category
turnaround
JD.com Stock Deep Dive: Why a Cheap Valuation Wasn’t Enough
JD (closed position): Closed JD at 24% loss after food delivery pivot destroyed thesis. Revenue grew 6.8% to $159B in 2024, margins improved to 4.2% EBITDA until Q3 2025. Then JD launched costly food delivery war vs Meituan/Alibaba, burning $4B+ industry-wide in subsidies. Operating income crashed from $6.5B to $2.8B, FCF fell $58B to $23B TTM. Still trades cheap at 8.4x fwd P/E vs peers 15-45x, but lacks catalysts amid profit destruction.
Read full article (13 min)