JD.Com Inc(JD.

OQ)

MARKET CAPITALIZATION
Price History por año x Basic Weighted Average Shares

2018 2017 2016 2015

Price History 20.930000 41.420000 25.440000 32.265000
Shares Outstanding 2878 2845 2805 2735
Market Cap 60236.54 117839.90 71359.20 88244.78

RATIOS DE VALORACIÓN
Relación precio-beneficio (para el BPA (beneficio x acción) use los BPA diluidos totales)

P\E Ratio = Market Capitalization = Capitalizacion Bursatil

Net Income Utilidad Neta

2018 2017 2016 2015

Market Cap 60236.54 117839.9 71359.2 88244.775
Net Income -377 -23 -573 -1450
P\E Ratio -159.78 -5123.47 -124.54 -60.86

Relación precio y valor contable

Market to Book Ratio = Market Value of Equity = Capitalizacion Bursatil

Book Value of Equity Valor Contable Patrimonial

2018 2017 2016 2015

Market Cap 60236.54 117839.9 71359.2 88244.775
Total Equity 8693 7999 4882 4711
Market to Book Ratio 6.93 14.73 14.62 18.73

Valor de la empresa respecto al EBITDA

(para la deuda, incluya la deuda a largo plazo y a corto plazo, para el efectivo, incluya los valores negociables)

EV/EBITDA = Valor de mercado del patrimonio + Deuda - Efectivo

Earnings Before Interest and Taxes + Depreciation and Amortization

2018 2017 2016 2015

Market Cap 60236.54 117839.9 71359.2 88244.775
Deuda 2097 3659 2918 982
Efectivo 5279 5268 3185 3180
EBIT -286 -124 -188 -853
DA 273 263 242 229
EV/ EBITDA= -4388.81 836.19 1316.52 -137.90
RATIOS DE RENTABILIDAD

Margen operativo (use ingresos de explotación después de amortización)

Operating Margin = Operating Income = Utilidad Operativa

Sales Ventas

2018 2017 2016 2015

Operating Income -286 -124 -188 -853
Sales 69851 53633 38891 28814
Operatin Margin -0.0041 -0.0023 -0.0048 -0.0296

Margen neto de explotación

Net Profit Margin = Net Income = Utilidad Neta

Sales Ventas

2018 2017 2016 2015

Net Income -377 -23 -573 -1450
Sales 69851 53633 38891 28814
Net Profit Margin -0.0054 -0.0004 -0.0147 -0.0503

Rendimiento de capital

Return on Equity = Net Income = Utilidad Neta

Book Value of Equity Valor Contable Patrimonial

2018 2017 2016 2015

Net Income -377 -23 -573 -1450
Book Value of Equity 8693 7999 4882 4711
Return on Equity -0.0434 -0.0029 -0.1174 -0.3078

RATIOS DE SOLIDEZ FINANCIERA

Coeficiente de liquidez

Current Ratio = Current Assets = Activo Corriente

Current Liabilities Pasivo Corriente

2018 2017 2016 2015

Current Assets 15251 17680 15401 9006
Current Liabilities 17579 18175 15086 7545
Current Ratio 0.8676 0.9728 1.0209 1.1936

Tasa de endeudamiento contable

Debt- Equity Ratio = Total Debt = Deuda Total
Total Equity Patrimonio Total

2018 2017 2016 2015

Total Debt 2097 3659 2918 982
Total Equity 8693 7999 4882 4711
Debt- Equity Ratio 0.2412 0.4574 0.5977 0.2084

Tasa de endeudamiento de mercado

Debt to Enterprise Value Ratio= Net Debt = Deuda Total

Market Value of Equity + Net Debt Capitalizacion Bursatil + Deud

2018 2017 2016 2015

Net Debt 2097 3659 2918 982
Market Value of Equity 60236.54 117839.9 71359.2 88244.775
Debt to Enterprise Value Rati 0.0336 0.0301 0.0393 0.0110

Ratio de cobertura de intereses (EBIT/gastos de intereses)

Interest Coverage Ratio = EBIT = Utilidades Antes de Intereses e Impuestos

Interest Expense Gastos de Intereses

2018 2017 2016 2015

EBIT -286 -124 -188 -853
Interest Expense -129 -143 -93 -12
Interest Coverage Ratio 2.2171 0.8671 2.0215 71.0833
 Deuda Total
apitalizacion Bursatil + Deuda Neta

s e Impuestos
MARKET CAPITALIZATION
Price History por año x Basic Weighted Average Shares

2018 2017 2016 2015

Price History 1,044.960000 1,053.400000 792.450000 778.010000
Shares Outst 695 693 688 685
Market Cap 726247.2 730006.20 545205.60 532936.85

RATIOS DE VALORACIÓN
Relación precio-beneficio (para el BPA (beneficio x acción) use los BPA diluidos totales)

P\E Ratio = Market Capitalization = Capitalizacion Bursatil

Net Income Utilidad Neta

2018 2017 2016 2015

Market Cap 726247.2 730006.2 545205.6 532936.85
Net Income 30736 12662 19478 16348
P\E Ratio 23.63 57.65 27.99 32.60

Relación precio y valor contable

Market to BooMarket Value of Equity = Capitalizacion Bursatil

Book Value of Equity Valor Contable Patrimonial

2018 2017 2016 2015

Market Cap 726247.2 730006.2 545205.6 532936.85
Total Equity 177628 152502 139036 120331
Market to Bo 4.09 4.79 3.92 4.43

Valor de la empresa respecto al EBITDA

(para la deuda, incluya la deuda a largo plazo y a corto plazo, para el efectivo, incluya los valores negociables)

EV/EBITDA = Valor de mercado del patrimonio + Deuda - Efectivo

Earnings Before Interest and Taxes + Depreciation and Amortization

2018 2017 2016 2015

Market Cap 726247.2 730006.2 545205.6 532936.85
Deuda 4012 3969 3935 5220
Efectivo 109140 101871 86333 73066
EBIT 26321 26146 23716 19360
DA 0 0 0 0
EV/ EBITDA= 23.60 24.18 19.51 24.02
RATIOS DE RENTABILIDAD

Margen operativo (use ingresos de explotación después de amortización)

Operating MaOperating Income = Utilidad Operativa

Sales Ventas

2018 2017 2016 2015

Operating In 26321 26146 23716 19360
Sales 136819 110855 90272 74989
Operatin Mar 0.1924 0.2359 0.2627 0.2582

Margen neto de explotación

Net Profit MaNet Income = Utilidad Neta

Sales Ventas

2018 2017 2016 2015

Net Income 30736 12662 19478 16348
Sales 136819 110855 90272 74989
Net Profit Ma 0.2246 0.1142 0.2158 0.2180

Rendimiento de capital

Return on EquNet Income = Utilidad Neta

Book Value of Equity Valor Contable Patrimonial

2018 2017 2016 2015

Net Income 30736 12662 19478 16348
Book Value of 177628 152502 139036 120331
Return on Eq 0.1730 0.0830 0.1401 0.1359

RATIOS DE SOLIDEZ FINANCIERA

Coeficiente de liquidez

Current RatioCurrent Assets = Activo Corriente

Current Liabilities Pasivo Corriente

2018 2017 2016 2015

Current Asset 135676 124308 105408 90114
Current Liabil 34620 24183 16756 19310
Current Ratio 3.9190 5.1403 6.2908 4.6667

Tasa de endeudamiento contable

Debt- Equity Total Debt = Deuda Total
Total Equity Patrimonio Total

2018 2017 2016 2015

Total Debt 4012 3969 3935 5220
Total Equity 177628 152502 139036 120331
Debt- Equity 0.0226 0.0260 0.0283 0.0434

Tasa de endeudamiento de mercado

Debt to Enterprise Value Rat Net Debt = Deuda Total

Market Value of Equity + Net Debt Capitalizacion Bursatil + Deuda Neta

2018 2017 2016 2015

Net Debt 4012 3969 3935 5220
Market Value 726247.2 730006.2 545205.6 532936.85
Debt to Enter 0.0055 0.0054 0.0072 0.0097

Ratio de cobertura de intereses (EBIT/gastos de intereses)

Interest CoveEBIT = Utilidades Antes de Intereses e Impuestos

Interest Expense Gastos de Intereses

2018 2017 2016 2015

EBIT 26321 26146 23716 19360
Interest Expe -114 -109 -124 -104
Interest Cove -230.8860 -239.8716 -191.2581 -186.1538
Deuda Total
Bursatil + Deuda Neta
MARKET CAPITALIZATION
Price History por año x Basic Weighted Average Shares

2018 2017 2016 2015

Price History 83.740 76.70 58.450 35.40
Shares Outst 27.8 27.9 27.2 29.1
Market Cap 2327.972 2139.93 1589.84 1030.14

RATIOS DE VALORACIÓN
Relación precio-beneficio (para el BPA (beneficio x acción) use los BPA diluidos totales)

P\E Ratio = Market Capitalization = Capitalizacion Bursatil

Net Income Utilidad Neta

2018 2017 2016 2015

Market Cap 2327.972 2139.93 1589.542 1030.14
Net Income 88 51 41.9 44.1
P\E Ratio 26.45 41.96 37.94 23.36

Relación precio y valor contable

Market to BooMarket Value of Equity = Capitalizacion Bursatil

Book Value of Equity Valor Contable Patrimonial

2018 2017 2016 2015

Market Cap 2327.972 2139.93 1589.542 1030.14
Total Equity 535.3 470.3 389 417.4
Market to Bo 4.35 4.55 4.09 2.47

Valor de la empresa respecto al EBITDA

(para la deuda, incluya la deuda a largo plazo y a corto plazo, para el efectivo, incluya los valores negociables)

EV/EBITDA = Valor de mercado del patrimonio + Deuda - Efectivo

Earnings Before Interest and Taxes + Depreciation and Amortization

2018 2017 2016 2015

Market Cap 2327.972 2139.93 1589.542 1030.14
Deuda 0 0 0 0
Efectivo 162 165.9 254.5 213
EBIT 105.8 72.7 57.6 60.6
DA 1.1 0.4 0 0
EV/ EBITDA= 20.26 27.00 23.18 13.48
RATIOS DE RENTABILIDAD

Margen operativo (use ingresos de explotación después de amortización)

Operating MaOperating Income = Utilidad Operativa

Sales Ventas

2018 2017 2016 2015

Operating In 105.8 72.7 57.6 60.6
Sales 1092.6 883.9 660.6 616.8
Operatin Mar 0.0968 0.0822 0.0872 0.0982

Margen neto de explotación

Net Profit MaNet Income = Utilidad Neta

Sales Ventas

2018 2017 2016 2015

Net Income 88 51 41.9 44.1
Sales 1092.6 883.9 660.6 616.8
Net Profit Ma 0.0805 0.0577 0.0634 0.0715

Rendimiento de capital

Return on EquNet Income = Utilidad Neta

Book Value of Equity Valor Contable Patrimonial

2018 2017 2016 2015

Net Income 88 51 41.9 44.1
Book Value of 535.3 470.3 389 417.4
Return on Eq 0.1644 0.1084 0.1077 0.1057

RATIOS DE SOLIDEZ FINANCIERA

Coeficiente de liquidez

Current RatioCurrent Assets = Activo Corriente

Current Liabilities Pasivo Corriente

2018 2017 2016 2015

Current Asset 514.4 434.7 383.7 389.3
Current Liabil 213.8 197.7 112.6 96.6
Current Ratio 2.4060 2.1988 3.4076 4.0300

Tasa de endeudamiento contable

Debt- Equity Total Debt = Deuda Total
Total Equity Patrimonio Total

2018 2017 2016 2015

Total Debt 0 0 0 0
Total Equity 535.3 470.3 389 417.4
Debt- Equity 0.0000 0.0000 0.0000 0.0000

Tasa de endeudamiento de mercado

Debt to Enterprise Value R Net Debt = Deuda Total

Market Value of Equity + Net Debt Capitalizacion Bursatil + Deuda Neta

2018 2017 2016 2015

Net Debt 0 0 0 0
Market Value 2327.972 2139.93 1589.542 1030.14
Debt to Enter 0.0000 0.0000 0.0000 0.0000

Ratio de cobertura de intereses (EBIT/gastos de intereses)

Interest CoveEBIT = Utilidades Antes de Intereses e Impuestos

Interest Expense Gastos de Intereses

2018 2017 2016 2015

EBIT 105.8 72.7 57.6 60.6
Interest Expe 0 0 0 0
Interest Cove 0.0000 0.0000 0.0000 0.0000
es negociables)
Deuda Total
Bursatil + Deuda Neta
MARKET CAPITALIZATION
Price History por año x Basic Weighted Average Shares

2018 2017 2016 2015

Price History82.900000 60.770000 46.270000 34.630000
Shares Outst 116.4 115.5 114.6 114.8
Market Cap 9649.56 7018.94 5302.54 3975.52

RATIOS DE VALORACIÓN
Relación precio-beneficio (para el BPA (beneficio x acción) use los BPA diluidos totales)

P\E Ratio = Market Capitalization = Capitalizacion Bursatil

Net Income Utilidad Neta

2018 2017 2016 2015

Market Cap 9649.56 7018.34 5302.24 3975.52
Net Income 52 6.2 -54.5 47.6
P\E Ratio 185.57 1131.99 -97.29 83.52

Relación precio y valor contable

Market to BooMarket Value of Equity = Capitalizacion Bursatil

Book Value of Equity Valor Contable Patrimonial

2018 2017 2016 2015

Market Cap 9649.56 7018.34 5302.24 3975.52
Total Equity 874.6 885.4 842.7 860.2
Market to Bo 11.03 7.93 6.29 4.62

Valor de la empresa respecto al EBITDA

(para la deuda, incluya la deuda a largo plazo y a corto plazo, para el efectivo, incluya los valores negociables)

EV/EBITDA = Valor de mercado del patrimonio + Deuda - Efectivo

Earnings Before Interest and Taxes + Depreciation and Amortization

2018 2017 2016 2015

Market Cap 9649.56 7018.34 5302.24 3975.52
Deuda 643.3 712.4 751.6 618.1
Efectivo 285.8 298.4 296.6 273.4
EBIT 73.2 40.9 -37 41.6
DA 31.4 32.1 33.2 36.1
EV/ EBITDA= 95.67 101.81 -1515.06 55.60
RATIOS DE RENTABILIDAD

Margen operativo (use ingresos de explotación después de amortización)

Operating MaOperating Income = Utilidad Operativa

Sales Ventas

2018 2017 2016 2015

Operating In 73.2 40.9 -37 41.6
Sales 1241.8 1164 1140.5 1255.2
Operatin Mar 0.0589 0.0351 -0.0324 0.0331

Margen neto de explotación

Net Profit MaNet Income = Utilidad Neta

Sales Ventas

2018 2017 2016 2015

Net Income 52 6.2 -54.5 47.6
Sales 1241.8 1164 1140.5 1255.2
Net Profit Ma 0.0419 0.0053 -0.0478 0.0379

Rendimiento de capital

Return on EquNet Income = Utilidad Neta

Book Value of Equity Valor Contable Patrimonial

2018 2017 2016 2015

Net Income 52 6.2 -54.5 47.6
Book Value of 874.6 885.4 842.7 860.2
Return on Eq 0.0595 0.0070 -0.0647 0.0553

RATIOS DE SOLIDEZ FINANCIERA

Coeficiente de liquidez

Current RatioCurrent Assets = Activo Corriente

Current Liabilities Pasivo Corriente

2018 2017 2016 2015

Current Asset 633.8 666.6 642.6 704.7
Current Liabil 735.3 678.9 654.5 617.3
Current Ratio 0.8620 0.9819 0.9818 1.1416

Tasa de endeudamiento contable

Debt- Equity Total Debt = Deuda Total
Total Equity Patrimonio Total

2018 2017 2016 2015

Total Debt 643.3 712.4 751.6 618.1
Total Equity 874.6 885.4 842.7 860.2
Debt- Equity 0.7355 0.8046 0.8919 0.7186

Tasa de endeudamiento de mercado

Debt to Enterprise Value R Net Debt = Deuda Total

Market Value of Equity + Net Debt Capitalizacion Bursatil + Deuda Neta

2018 2017 2016 2015

Net Debt 643.3 712.4 751.6 618.1
Market Value 9649.56 7018.34 5302.24 3975.52
Debt to Enter 0.0625 0.0922 0.1242 0.1346

Ratio de cobertura de intereses (EBIT/gastos de intereses)

Interest CoveEBIT = Utilidades Antes de Intereses e Impuestos

Interest Expense Gastos de Intereses

2018 2017 2016 2015

EBIT 73.2 40.9 -37 41.6
Interest Expe -41.7 -42.4 -29.9 -14.7
Interest Cove -1.7554 -0.9646 1.2375 -2.8299
es negociables)
Deuda Total
Bursatil + Deuda Neta
MARKET CAPITALIZATION
Price History por año x Basic Weighted Average Shares

2018 2017 2016 2015

Price History 14.100000 23.600000 21.200000 15.500000
Shares Outstanding 352.2 352.2 353.2 357.8
Market Cap 4966.02 8311.92 7487.84 5545.90

RATIOS DE VALORACIÓN
Relación precio-beneficio (para el BPA (beneficio x acción) use los BPA diluidos totales)

P\E Ratio = Market Capitalization = Capitalizacion Bursatil

Net Income Utilidad Neta

2018 2017 2016 2015

Market Cap 4966.02 8311.92 7487.84 5545.9
Net Income 484.4 377.6 446.1 381.2
P\E Ratio 10.25 22.01 16.79 14.55

Relación precio y valor contable

Market to Book RatioMarket Value of Equity = Capitalizacion Bursatil

Book Value of Equity Valor Contable Patrimonial

2018 2017 2016 2015

Market Cap 4966.02 8311.92 7487.84 5545.9
Total Equity 4873.5 4825.3 4418.9 4156.1
Market to Book Rati 1.02 1.72 1.69 1.33

Valor de la empresa respecto al EBITDA

(para la deuda, incluya la deuda a largo plazo y a corto plazo, para el efectivo, incluya los valores negociables)

EV/EBITDA = Valor de mercado del patrimonio + Deuda - Efectivo

Earnings Before Interest and Taxes + Depreciation and Amortization

2018 2017 2016 2015

Market Cap 4966.02 8311.92 7487.84 5545.9
Deuda 1284.3 1567.5 1315.9 1257.3
Efectivo 1594.2 2175.7 1997.9 2062.6
EBIT 643.6 586.7 626.7 783
DA 0 0 0 0
EV/ EBITDA= 7.23 13.13 10.86 6.05
RATIOS DE RENTABILIDAD

Margen operativo (use ingresos de explotación después de amortización)

Operating Margin = Operating Income = Utilidad Operativa

Sales Ventas

2018 2017 2016 2015

Operating Income 643.6 586.7 626.7 783
Sales 9827.8 9946.6 9460.4 9098.2
Operatin Margin 0.0655 0.0590 0.0662 0.0861

Margen neto de explotación

Net Profit Margin = Net Income = Utilidad Neta

Sales Ventas

2018 2017 2016 2015

Net Income 484.4 377.6 446.1 381.2
Sales 9827.8 9946.6 9460.4 9098.2
Net Profit Margin 0.0493 0.0380 0.0472 0.0419

Rendimiento de capital

Return on Equity = Net Income = Utilidad Neta

Book Value of Equity Valor Contable Patrimonial

2018 2017 2016 2015

Net Income 484.4 377.6 446.1 381.2
Book Value of Equity 4873.5 4825.3 4418.9 4156.1
Return on Equity 0.0994 0.0783 0.1010 0.0917

RATIOS DE SOLIDEZ FINANCIERA

Coeficiente de liquidez

Current Ratio = Current Assets = Activo Corriente

Current Liabilities Pasivo Corriente

2018 2017 2016 2015

Current Assets 5616.9 6015.2 5408.8 5343.3
Current Liabilities 2683.8 3034 3154.8 2887.5
Current Ratio 2.0929 1.9826 1.7145 1.8505

Tasa de endeudamiento contable

Debt- Equity Ratio = Total Debt = Deuda Total
Total Equity Patrimonio Total

2018 2017 2016 2015

Total Debt 1284.3 1567.5 1315.9 1257.3
Total Equity 4873.5 4825.3 4418.9 4156.1
Debt- Equity Ratio 0.2635 0.3249 0.2978 0.3025

Tasa de endeudamiento de mercado

Debt to Enterprise Value Ratio= Net Debt = Deuda Total

Market Value of Equity + Net Debt Capitalizacion Bursatil + Deuda Neta

2018 2017 2016 2015

Net Debt 1284.3 1567.5 1315.9 1257.3
Market Value of Equ 4966.02 8311.92 7487.84 5545.9
Debt to Enterprise V 0.2055 0.1587 0.1495 0.1848

Ratio de cobertura de intereses (EBIT/gastos de intereses)

Interest Coverage RatEBIT = Utilidades Antes de Intereses e Impuestos

Interest Expense Gastos de Intereses

2018 2017 2016 2015

EBIT 643.6 586.7 626.7 783
Interest Expense -11.2 -7.6 -11
Interest Coverage Ratio -52.3839 -82.4605 -71.1818
Deuda Total
Bursatil + Deuda Neta