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JD.com vs Walmart: revenue, profit, margins and growth compared

JD.com brought in $187.2B of revenue in fiscal 2025, Walmart $713.2B in fiscal 2026. Revenue changed by +17.9% at JD.com and +4.7% at Walmart on the year before, so JD.com grew faster. JD.com kept 1.5% of its revenue as net profit, Walmart 3.1%. Free cash flow was $1.6B at JD.com and $14.9B at Walmart.

Open the JD pageOpen the WMT page

Side by side, latest fiscal year

JDWMT
Fiscal year endedFY2025 (December 31, 2025)FY2026 (January 31, 2026)
Revenue$187.2B$713.2B
Revenue growth+17.9%+4.7%
Net income$2.8B$21.9B
Net margin1.5%3.1%
Free cash flow$1.6B$14.9B
Free cash flow margin0.9%2.1%
Earnings per share (diluted)$0.92$2.73
Cash$19.7B$10.7B
Debtn/a$38.2B
Price to earningsn/a43.9
Market value$34.1B$954.1B
Dividend yieldn/a0.78%
Rank by revenue in sector#4 of 1077 · Consumer discretionary#2 of 1077 · Consumer discretionary

Over the years

Revenue
JD FY2018: $67.2BJD FY2019: $82.9BJD FY2020: $114.3BJD FY2021: $149.3BJD FY2022: $151.7BJD FY2023: $152.8BJD FY2024: $158.8BJD FY2025: $187.2BWMT FY2019: $514.4BWMT FY2020: $524BWMT FY2021: $559.2BWMT FY2022: $572.8BWMT FY2023: $611.3BWMT FY2024: $648.1BWMT FY2025: $681BWMT FY2026: $713.2BFY18FY19FY20FY21FY22FY23FY24FY25FY26
JD $187.2BWMT $713.2B
Net income
JD FY2018: -$362.4MJD FY2019: $1.8BJD FY2020: $7.6BJD FY2021: -$559MJD FY2022: $1.5BJD FY2023: $3.4BJD FY2024: $5.7BJD FY2025: $2.8BWMT FY2019: $6.7BWMT FY2020: $14.9BWMT FY2021: $13.5BWMT FY2022: $13.7BWMT FY2023: $11.7BWMT FY2024: $15.5BWMT FY2025: $19.4BWMT FY2026: $21.9BFY18FY19FY20FY21FY22FY23FY24FY25FY26
JD $2.8BWMT $21.9B
Net margin
JD FY2018: -0.5%JD FY2019: 2.1%JD FY2020: 6.6%JD FY2021: -0.4%JD FY2022: 1.0%JD FY2023: 2.2%JD FY2024: 3.6%JD FY2025: 1.5%WMT FY2019: 1.3%WMT FY2020: 2.8%WMT FY2021: 2.4%WMT FY2022: 2.4%WMT FY2023: 1.9%WMT FY2024: 2.4%WMT FY2025: 2.9%WMT FY2026: 3.1%FY18FY19FY20FY21FY22FY23FY24FY25FY26
JD 1.5%WMT 3.1%
Revenue growth
JD FY2019: +23.3%JD FY2020: +37.9%JD FY2021: +30.6%JD FY2022: +1.6%JD FY2023: +0.7%JD FY2024: +3.9%JD FY2025: +17.9%WMT FY2020: +1.9%WMT FY2021: +6.7%WMT FY2022: +2.4%WMT FY2023: +6.7%WMT FY2024: +6.0%WMT FY2025: +5.1%WMT FY2026: +4.7%FY19FY20FY21FY22FY23FY24FY25FY26
JD +17.9%WMT +4.7%
Free cash flow
JD FY2018: $2BJD FY2019: $2.8BJD FY2021: $5.8BJD FY2022: $7.6BJD FY2023: $7.8BJD FY2024: $7.2BJD FY2025: $1.6BWMT FY2019: $17.4BWMT FY2020: $14.6BWMT FY2021: $25.8BWMT FY2022: $11.1BWMT FY2023: $12BWMT FY2024: $15.1BWMT FY2025: $12.7BWMT FY2026: $14.9BFY18FY19FY20FY21FY22FY23FY24FY25FY26
JD $1.6BWMT $14.9B

Fiscal years as each company reports them; the two may end in different months.

Questions about JD.com and Walmart

Which is bigger by revenue, JD.com or Walmart?

Walmart is bigger by revenue: $713.2B in fiscal 2026, against $187.2B for JD.com in fiscal 2025.

Which keeps more of its revenue as profit, JD.com or Walmart?

JD.com had a net margin of 1.5% in fiscal 2025; Walmart had 3.1% in fiscal 2026.

Which grew revenue faster, JD.com or Walmart?

In their latest fiscal years revenue changed by +17.9% at JD.com and +4.7% at Walmart.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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