JD.com (NASDAQ:JD) reported a 13% increase in full-year revenue for 2025, driven by resilient consumer demand and a sharpened focus on supply chain efficiency.
While the company faced a bottom-line contraction in the fourth quarter, its robust annual profitability triggered a massive capital return program for investors.
For the fiscal year ended Dec. 31, 2025, the Beijing-based retailer posted total net revenues of RMB 1,309.1 billion ($187 billion).
The fourth quarter contributed RMB 352.3 billion to that total, representing a modest 1.5% year-on-year increase as the company navigated a highly competitive year-end shopping season.
On the earnings front, JD.com reported a full-year net income of RMB19.6 billion ($2.8 billion).
However, the fourth quarter saw a net loss attributable to shareholders of RMB2.7 billion ($385 million), reflecting non-cash impairment charges and strategic investments in its low-price ecosystem.
Despite the quarterly volatility, the company’s operating cash flow remained a pillar of strength, enabling significant payouts.
The Board of Directors approved an annual cash dividend of $1 per American Depositary Share (ADS), totaling approximately $1.4 billion.
This payout complements an aggressive share buyback strategy; JD.com repurchased approximately $3 billion worth of its shares throughout 2025.
With $2 billion still remaining under its current authorization, the company appears poised to continue its "shareholder-first" capital allocation policy into 2026.