JD
JD.com
Platform / Network
★ Quality 24/100Price today
$28.26
Current discount
+48.6%
charlieapp.co
We are reviewing the data for this asset. For now we are not showing the calculated value or the signal — both come back as soon as the review is done.
What this business is made of
Price vs Intrinsic Value
The line is the price month by month; the green band marks when it's undervalued (−20% off value). When the price drops in there, the discount is real, not opinion.
How many times the cash flow
Platform / Network · vs 27 peers
You pay 13.4x times this business's cash flow; its sector median is 28.4x.
98% below what Charlie thinks it's worth (26.5x) — that gap is your safety margin.
Why does Charlie give it 26.5x?
The multiple is how many times its cash flow the business is worth.
An average business of its kind is worth 28.4x. This one drops from there:
14% margin. it earns on volume, not margin; it can't raise prices at will.
That's why it's worth 26.5x, less than the 28.4x average.
The business
Vende de todo en China y controla el camión que lo entrega.
JD es minorista directo: compra inventario y lo vende online, no solo alquila la vitrina a terceros. Gana con el margen de reventa (16% bruto) sobre $187.2B en ventas, más su red logística propia que entrega el mismo día en buena parte de China.
El foso es la logística vertical: bodegas y flota propias que ningún rival copia sin quemar años y capital. El problema es que vender cajas deja apenas 16% de margen bruto y $1.6B de flujo libre sobre $187B — mucho músculo, poca grasa.
Revenue history
From $147.0B to $187.2B in 4 years. The business grows steadily.
Where each $100 of sales goes
Revenue $187.2B · FY2025
Of every $100 in sales, $98 goes to costs and operations; $2 is left as net profit (2% margin).
Catalysts and risks
Expansión en logística y entrega a domicilio elevando el margen operativo.
Recompra de acciones y dividendo con $19.7B en caja neta.
Recuperación del consumo chino tras estímulos del gobierno.
Consumo interno chino débil y competencia feroz de Alibaba y PDD (Temu).
Margen bruto de 16% deja cero colchón ante guerra de precios.
Riesgo regulatorio y político sobre empresas chinas cotizadas en EE.UU.
Charlie's note
“Un negocio enorme que apenas convierte 1% de sus ventas en efectivo real. Cotiza cerca de 20x flujo libre para crecer al 6% sin foso fuerte — no es un regalo, y con China de fondo, tampoco duermes tranquilo.”
Analysis · August 2026
Charlie informs, it doesn't advise. No information should be taken as a recommendation to buy or sell.