Debt-to-Equity Ratio

JD.com’s debt-to-equity ratio of 0.50x means that for every dollar of shareholders’ equity, the company carries 50 cents of debt — a measure of financial leverage that shows how much the company relies on borrowing versus its own funds.

This sits well below the sector median of 0.76x and places JD in the 43rd percentile among Consumer Cyclical peers, indicating a lower debt burden relative to the typical company in its industry. The metric has been stable over the last eight quarters, with a quarter-over-quarter change of +0.0% and a year-over-year change not available, showing no movement in leverage from period to period. The combination of a low debt-to-equity level and a flat trend suggests limited financial risk from debt, but also implies the company is not aggressively using debt to fund growth, which may cap upside in a rising market. This metric supports the overall BULLISH verdict because a conservative capital structure reduces bankruptcy risk and provides financial flexibility, aligning with a positive outlook.

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