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Chinese online discount retailer specializing in flash sales of overstock apparel and branded goods.
Chinese online discount retailer specializing in flash sales of overstock apparel and branded goods.
Buys branded goods in bulk from brands at a discount and resells them in limited-time online events, taking inventory risk rather than just charging commissions, so margin comes from buying well and avoiding unsold stock. A paid membership programme, SVIP, for its heaviest users supplies a loyal base. It runs its own warehouse and delivery network.
In one line: An online flash-sale outlet mall (like a digital TJ Maxx).
Moat: narrow (scale, brand, distribution). Established vendor relationships for discounted branded inventory give a supply edge in its niche.
Headquarters: Guangzhou, China · Founded: 2008 · Employees: 15,145
Size Vipshop Holdings Ltd Sponsored ADR (VIPS) is a United States Consumer Discretionary company (Internet Retail) with a market value of $6.55B, the 997th largest of 3,117 United States companies the cockpit tracks. Shares closed at $13.86 on 6 Nov 2026.
Performance Over six months the shares fell 4.2%, against +30.2% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 12 in its peer set.
Growth Revenue grew 2.4% over the last twelve months (peer median +11.3%); the operating margin is 6.8% (peer median 14.3%).
Valuation It trades at 5.4× forward earnings against a peer median of 19.7× (cheapest of 10).
Price implies For today's price to make sense, revenue must grow about -20% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is -20 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 11.3 points above its cost of capital (7.2% WACC).
Short interest Short interest is 1.5% of the free float (15 Oct 2026).
Next results Next results expected around 24 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $15.0B | $14.7B | $15.1B | $15.9B | $15.3B |
| Revenue growth | — | -2% | -5% | +4% | — |
| Gross profit | $3.52B | $3.41B | $3.54B | $3.63B | $3.21B |
| EBITDA | n/a | $1.20B | $1.35B | $1.36B | $1.04B |
| Net income | $1.49B | $1.01B | $1.08B | $1.15B | $935M |
| Free cash flow | n/a | $761M | $890M | $1.73B | $1.20B |
| Capital expenditure | n/a | $287M | $495M | $738M | $461M |
| Total debt | $1.70B | $923M | $418M | $310M | $526M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Vipshop Holdings Ltd Sponsored ADR VIPS | $6.55B | -4% | +2% | 7% | 5.4× | -20.3% |
| Alibaba Group Holding Limited Sponsored ADR BABA | $255B | -22% | +8% | 4% | 14.2× | n/a |
| JD.com, Inc. Sponsored ADR JD | $32.7B | -3% | +7% | 0% | 8.1× | 8.1% |
| PDD Holdings Inc. Sponsored ADR PDD | $117B | -16% | +14% | 22% | 7.5× | n/a |
| Meituan-w 3690.HK | $63.3B | -5% | +10% | -12% | 303.1× | n/a |
| Kuaishou-w 1024.HK | $16.0B | -39% | +11% | 11% | 14.9× | -4.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | VIPS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.0% | +3.4% | 5th highest of 12 |
| 6-month return | -4.2% | +30.2% | 3rd lowest of 12 |
| Distance from 52-week high | -32.4% | -14.4% | 4th lowest of 12 |
| Revenue growth (TTM) | +2.4% | +11.3% | 2nd lowest of 12 |
| Operating margin | 6.8% | 14.3% | 5th lowest of 12 |
| Forward P/E | 5.4× | 19.7× | cheapest of 10 |
| Growth the price implies (Req g, 7 yrs) | -20.3% | 4.4% | least demanding of 9 |
| Growth delivered (Del g) | 0.0% | +10.0% | lowest of 9 |
| Hurdle (Req g minus delivered) | -20.3 pp | -7.1 pp | 2nd least demanding of 9 |
| ROIC minus cost of capital | +11.3 pp | +13.7 pp | 6th highest of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Vipshop Holdings Ltd Sponsored ADR VIPS | United States | $6.55B | -4% | +2% | 7% | 5.4× | -20.3% | 0.0% |
| Zozo 3092.T | Japan | $6.41B | +8% | +6% | 30% | 19.6× | -5.0% | +9.2% |
| Global-e Online GLBE | United States | $7.22B | +44% | +31% | 14% | 30.9× | 23.4% | +47.8% |
| Zalando ZAL.DE | Germany | $7.64B | +42% | +18% | 4% | 19.6× | 7.6% | +9.1% |
| Etsy ETSY | United States | $7.75B | +40% | +1% | 18% | 19.7× | 12.8% | +10.8% |
| USS 4732.T | Japan | $5.34B | +8% | +11% | 52% | 18.7× | -0.8% | +8.7% |
| Rakuten 4755.T | Japan | $8.59B | -18% | +11% | 6% | n/a | -2.0% | +11.4% |
| Chewy CHWY | United States | $9.07B | -2% | +6% | 3% | 24.1× | 16.8% | +12.0% |
| FSN E-Commerce Ventures NYKAA.NS | India | $10.7B | +31% | +28% | 5% | 209.2× | n/a | n/a |
| Mercari 4385.T | Japan | $3.76B | -5% | +19% | 19% | 15.6× | n/a | n/a |
| Xingyun Technology 300209.SZ | China | $3.15B | +30% | +978% | 23% | n/a | n/a | n/a |
| Global Industrial GIC | United States | $1.77B | +59% | +10% | 8% | 22.4× | 1.3% | +6.0% |