Vipshop (ADR)
Sells branded merchandise through online flash sales and outlet malls.
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Profile
Time-limited online flash sales of branded merchandise form the core of a China-focused off-price retail business. Vip.com is complemented by Shan Shan Outlets, which adds physical outlet malls; the online business operates through a Cayman holding-company and VIE structure.
Runs a China-focused off-price retail business through time-limited online flash sales of branded merchandise. Its Vip.com channel spans apparel, sportswear, shoes and bags, beauty products, supermarket goods, and home and lifestyle products. Merchandise selection draws on historical patterns, fashion trends, seasonality, customer feedback, and consumer insights.
Shan Shan Outlets extends the model into physical outlet malls, complementing the online channels. The group also reports internet finance, offline shops, and City Outlets within Other operations.
The listed Cayman Islands holding company reaches its Chinese online-retail operations through subsidiaries and consolidated VIEs. Vipshop E-Commerce holds the primary licenses for those internet-related operations.
Company facts
Categories
Key statistics
Year to date −23.7% · Average volume (30d) 2.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 27, 2026 | Nomura | Downgrade | Buy | Neutral | $15 | $14 |
| Aug 26, 2026 | Morgan Stanley | Target | $18 | $16 | ||
| May 22, 2026 | UBS | Target | $12.50 | $18.50 | ||
| Dec 30, 2025 | Jefferies | Target | $17.60 | $22.60 | ||
| Nov 21, 2025 | Barclays | Reiterate | Overweight | $19 | $21 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 25, 2026Q2 FY26 | $0.59 | $0.12 | −79.7% | $3.64B | $3.64B | 0.0% | −1.12% |
| May 21, 2026Q1 FY26 | $0.68 | $0.68 | 0.0% | $3.85B | $3.85B | +0.1% | −0.76% |
| Feb 26, 2026Q4 FY25 | $0.78 | $0.81 | +3.8% | $4.77B | $4.64B | −2.6% | −3.86% |
| Nov 20, 2025Q3 FY25 | $0.43 | $0.42 | −2.3% | $4.70B | $3.00B | −36.2% | +3.04% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.91B | $3.84B | $3.18B | $4.83B | $3.93B | $3.69B | |
| Gross profit | $905.0M | $900.9M | $730.4M | $1.11B | $960.6M | $871.1M | |
| Operating income | $338.8M | $252.6M | $187.8M | $431.3M | $344.6M | $226.1M | |
| Net income | $289.1M | $221.7M | $181.6M | $385.3M | $326.3M | $640.7M | |
| Diluted EPS | $0.55 | $0.43 | $0.36 | $0.76 | $0.67 | $1.31 | |
| Gross margin | 23.2% | 23.5% | 23.0% | 22.9% | 24.4% | 23.6% | |
| Operating margin | 8.7% | 6.6% | 5.9% | 8.9% | 8.8% | 6.1% |
Fiscal years (4-quarter sums)FY21 $17.42B · FY22 $15.35B · FY23 $16.79B · FY24 $16.13B · FY25 $15.76B
Revenue by product · FY25
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $4.89B · Total debt $1.72B · Total assets $12.77B · Shareholders' equity $6.69B
Dividends
Last raised to $0.62 from $0.48 in Apr 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Apr 10, 2026 | Apr 10 | Apr 24 | $0.62 | raised from $0.48 |
| Apr 11, 2025 | Apr 11 | Apr 25 | $0.48 | raised from $0.43 |
| Mar 14, 2024 | Mar 15 | Apr 8 | $0.43 |
Ownership
Shares outstanding 492.04M · Float —
Float — provider float is below the insider stake.
Insiders — filings are in the shares behind the receipt.
This listing is a depositary receipt and the Form 4 positions here are filed in the shares behind it, a different unit from the share count and in a ratio the filings never state, so no insider percentage is shown.
The provider's float is smaller than the insider stake it should exclude, so it is not shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| FIL Ltd | 26.07M | 5.30% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 19.06M | 3.87% | 13F | Aug 7, 2026 |
| Invesco Ltd. | 18.55M | 3.77% | 13F | Aug 14, 2026 |
| UBS Group AG | 16.13M | 20.00% | 13G | May 7, 2026 |
| Elegant Motion Holdings Limited | 15.94M | 16.20% | 13G | Aug 14, 2025 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 7, 2026 | Chun Liu | director | −174 | $67.31 |
| Jul 7, 2026 | Tianmin Li | officer: Chief Technology Officer | −2,518 | $67.45 |
| Jun 9, 2026 | Yuhua Wang | officer: Chief Financial Officer | −2,589 | $69.12 |
| Jun 9, 2026 | Donghao Yang | director | −397 | $69.30 |
| Apr 8, 2026 | Chun Liu | director | −145 | $77.88 |
Peers
- Alibaba Group (ADR)
Taobao and Tmall offer broad branded online retail
- JD.com (ADR)
Direct retail and marketplace services cover overlapping merchandise
- PDD (ADR)
Value marketplace and group buying target price-sensitive shoppers
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Vipshop (ADR) | $13.50 | −0.07% | $6.64B | 4.4 | 5.6 | 0.4 | +1.1% |
| Alibaba Group (ADR) | $118.57 | −0.26% | $284.99B | 27.1 | 18.1 | 1.8 | +14.8% |
| JD.com (ADR) | $28.63 | −0.35% | $40.35B | 19.0 | 8.8 | 0.2 | +2.5% |
| PDD (ADR) | $85.92 | +0.20% | $121.97B | 9.1 | 10.1 | 1.8 | +14.0% |
| Median | 19.0 | 10.1 | 1.8 | +14.0% |