Vipshop Holdings Limited (VIPS) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q4'20 | Q3'20 | Q2'20 |
|---|
| Total Current Assets | 39.6B | 40.27B | 36.42B | 37.43B | 37.8B | 32.73B | 31.75B | 35.54B | 37.56B | 27.83B | 27.25B | 27.45B | 33.73B | 27.4B | 31.17B | 24.09B | 23.27B |
| Cash & Short-Term Investments | 29.92B | 30.49B | 27.22B | 28.56B | 28.22B | 23.43B | 22.95B | 26.99B | 27.4B | 19.29B | 18.73B | 19.47B | 23.53B | 18.3B | 19.32B | 13.83B | 13.33B |
| Cash Only | 24.14B | 24.57B | 24.24B | 28.37B | 26.35B | 21.87B | 21.03B | 24.08B | 25.41B | 18.84B | 17.28B | 17.98B | 21.94B | 14.9B | 12B | 8.88B | 7.4B |
| Short-Term Investments | 5.78B | 5.92B | 2.98B | 192.34M | 1.87B | 1.56B | 1.92B | 2.91B | 1.98B | 451.93M | 1.45B | 1.49B | 1.6B | 3.4B | 7.33B | 4.95B | 5.94B |
| Accounts Receivable | 1.66B | 4.53B | 4.42B | 4.2B | 3.15B | 4.09B | 4.04B | 3.76B | 2.39B | 1.38B | 1.41B | 597.23M | 2.67B | 1.06B | 335.61M | 485.15M | 537.53M |
| Days Sales Outstanding | 8.78 | 19.27 | 15.2 | 12.6 | 10.03 | 18.09 | 13.22 | 10.12 | 5 | 5.65 | 3.28 | 5.35 | 5.4 | 2.94 | 1.06 | 2.03 | 8.14 |
| Inventory | 5.16B | 4.71B | 4.28B | 4.18B | 5.03B | 4.63B | 4.17B | 4.21B | 5.64B | 4.13B | 4.08B | 4.06B | 5.52B | 4.66B | 7.64B | 6.42B | 5.76B |
| Days Inventory Outstanding | 18.14 | 25.12 | 19.48 | 20.53 | 17.36 | 25.75 | 18.59 | 21.26 | 17 | 21.73 | 17.08 | 19.91 | 18.83 | 33.15 | 23.16 | 30.63 | 109.76 |
| Other Current Assets | 2.86B | 533.82M | 502.59M | 492.61M | 602.34M | 583.75M | 587.8M | 570.58M | 882.64M | 3.03B | 3.02B | 3.32B | 1.16B | 3.38B | 3.02B | 3.36B | 3.64B |
| Total Non-Current Assets | 39.29B | 38.06B | 37.17B | 37.14B | 37.13B | 36.76B | 35.9B | 34.88B | 34.76B | 34.4B | 33.24B | 31.78B | 31.74B | 30.71B | 27.77B | 28.15B | 26.83B |
| Property, Plant & Equipment | 18.73B | 19B | 18.94B | 18.84B | 18.89B | 18.73B | 18.22B | 17.72B | 17.64B | 17.41B | 17.06B | 17.41B | 17.41B | 16.28B | 15.11B | 15.31B | 14.44B |
| Fixed Asset Turnover | 1.72x | 1.13x | 1.37x | 1.39x | 1.77x | 1.12x | 1.50x | 1.56x | 1.98x | 1.32x | 1.62x | 1.58x | 1.89x | 1.38x | 2.35x | 1.56x | 1.67x |
| Goodwill | 755.69M | 755.21M | 755.21M | 755.21M | 755.21M | 755.21M | 755.21M | 755.21M | 755.21M | 755.21M | 755.21M | 755.21M | 755.21M | 589.16M | 593.66M | 593.66M | 369.9M |
| Intangible Assets | 324.27M | 10.8B | 10.87B | 10.94B | 11.01B | 11.07B | 10.76B | 10.4B | 10.47B | 10.21B | 8.26B | 7.93B | 7.98B | 7.46B | 6.52B | 6.32B | 6.24B |
| Long-Term Investments | 7.94B | 6.45B | 5.6B | 5.57B | 5.36B | 5.28B | 5.23B | 5.12B | 5.07B | 5.12B | 5.18B | 4.86B | 4.82B | 5.55B | 4.81B | 4.87B | 4.62B |
| Other Non-Current Assets | 10.78B | 277.17M | 286.16M | 275.29M | 434.21M | 179.56M | 237.93M | 158.78M | 147.67M | 182.12M | 1.3B | 109.87M | 91.76M | 84M | 100.33M | 430.75M | 548.15M |
| Total Assets | 78.84B | 78.33B | 73.58B | 74.57B | 74.94B | 69.48B | 67.65B | 70.42B | 72.32B | 62.23B | 60.49B | 59.23B | 65.48B | 58.11B | 58.94B | 52.24B | 50.1B |
| Asset Turnover | 0.41x | 0.28x | 0.35x | 0.35x | 0.46x | 0.30x | 0.39x | 0.39x | 0.52x | 0.37x | 0.47x | 0.44x | 0.51x | 0.37x | 0.64x | 0.45x | 0.48x |
| Asset Growth % | 5.21% | 12.73% | 8.77% | 5.9% | 3.61% | 11.65% | 11.84% | 18.9% | 10.46% | 7.09% | - | - | - | - | - | - | - |
| Total Current Liabilities | 30.88B | 31.05B | 29B | 29.28B | 29.93B | 27.16B | 24.74B | 28.47B | 30.62B | 24.18B | 23.8B | 22.63B | 28.53B | 21.11B | 26.57B | 22.38B | 21.63B |
| Accounts Payable | 12.64B | 11.67B | 11.73B | 12.41B | 15.19B | 11.35B | 12.23B | 13.22B | 17.26B | 13.1B | 13.36B | 11.89B | 15.02B | 10.86B | 15.19B | 11.42B | 11.9B |
| Days Payables Outstanding | 44.68 | 65.41 | 55.62 | 61.53 | 47.7 | 68.99 | 56.38 | 65.72 | 52.82 | 70.03 | 53 | 55.97 | 47.89 | 70.21 | 43.83 | 58.63 | 226.6 |
| Short-Term Debt | 5.84B | 7.87B | 6.66B | 4.44B | 2.61B | 5.4B | 2.49B | 2.49B | 1.61B | 791.21M | 507.97M | 999.2M | 2.82B | 1.35B | 1.04B | 2.04B | 1.85B |
| Deferred Revenue (Current) | 0 | 2.18B | 2.02B | 2.05B | 2.51B | 2.01B | 1.75B | 2.06B | 2.15B | 1.55B | 1.7B | 1.74B | 2.14B | 1.86B | 2.29B | 1.79B | 1.38B |
| Other Current Liabilities | 2.41B | 0 | 0 | 0 | 2.52B | 0 | 0 | 0 | 2.25B | 0 | 0 | 0 | 1.86B | 0 | 557.76M | 0 | 0 |
| Current Ratio | 1.28x | 1.30x | 1.26x | 1.28x | 1.26x | 1.21x | 1.28x | 1.25x | 1.23x | 1.15x | 1.14x | 1.21x | 1.18x | 1.30x | 1.17x | 1.08x | 1.08x |
| Quick Ratio | 1.12x | 1.15x | 1.11x | 1.14x | 1.10x | 1.03x | 1.11x | 1.10x | 1.04x | 0.98x | 0.97x | 1.03x | 0.99x | 1.08x | 0.89x | 0.79x | 0.81x |
| Cash Conversion Cycle | -17.76 | -21.01 | -20.94 | -28.39 | -20.32 | -25.15 | -24.58 | -34.34 | -30.82 | -42.66 | -32.64 | -30.71 | -23.66 | -34.11 | -19.62 | -25.97 | -108.71 |
| Total Non-Current Liabilities | 3.52B | 3.49B | 3.45B | 3.48B | 3.46B | 3.2B | 3.21B | 3.07B | 3.14B | 2.92B | 2.97B | 2.97B | 2.88B | 2.94B | 2.99B | 3.21B | 3.29B |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 197.86M | 197.86M |
| Capital Lease Obligations | 556.95M | 584.78M | 594.15M | 591.4M | 592M | 602.39M | 607.28M | 618.24M | 689.26M | 715.16M | 724.81M | 749M | 832.93M | 881.2M | 1.36B | 1.53B | 1.74B |
| Deferred Tax Liabilities | 707.77M | 651.46M | 595.59M | 689.73M | 783.86M | 490.5M | 647.27M | 614.37M | 692.49M | 549.18M | 557.14M | 567.1M | 573.73M | 664.65M | 433M | 421.87M | 388.25M |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 121.25M | 57.44M | 40.09M |
| Total Liabilities | 34.42B | 34.54B | 32.45B | 32.76B | 33.39B | 30.35B | 27.95B | 31.55B | 33.76B | 27.1B | 26.77B | 25.6B | 31.4B | 24.06B | 29.56B | 25.59B | 24.92B |
| Total Debt | 6.45B | 8.51B | 7.32B | 5.09B | 3.25B | 6.07B | 3.16B | 3.17B | 2.38B | 1.58B | 1.32B | 1.84B | 3.79B | 2.36B | 2.7B | 4.05B | 4.08B |
| Net Debt | -17.69B | -16.05B | -16.92B | -23.28B | -23.1B | -15.8B | -17.87B | -20.91B | -23.03B | -17.26B | -15.96B | -16.14B | -18.15B | -12.54B | -9.29B | -4.84B | -3.32B |
| Debt / Equity | 0.15x | 0.19x | 0.18x | 0.12x | 0.08x | 0.16x | 0.08x | 0.08x | 0.06x | 0.05x | 0.04x | 0.05x | 0.11x | 0.07x | 0.09x | 0.15x | 0.16x |
| Debt / EBITDA | 1.98x | 5.26x | 3.56x | 1.93x | 1.01x | 3.66x | 1.23x | 1.03x | 0.60x | 0.86x | 0.59x | 0.80x | 1.34x | 1.67x | 0.95x | 2.77x | 2.81x |
| Net Debt / EBITDA | -5.43x | -9.92x | -8.24x | -8.84x | -7.20x | -9.55x | -6.99x | -6.78x | -5.77x | -9.37x | -7.17x | -7.04x | -6.44x | -8.86x | -3.27x | -3.31x | -2.29x |
| Interest Coverage | 118.92x | 60.06x | 82.98x | 243.97x | 152.02x | 97.56x | 172.97x | 282.12x | 247.86x | 3424.61x | 1232.66x | 398.40x | 652.39x | 225.05x | 399.29x | 269.98x | 58.85x |
| Total Equity | 44.44B | 43.79B | 41.13B | 41.82B | 41.55B | 39.13B | 39.7B | 38.87B | 38.56B | 35.13B | 33.71B | 33.63B | 34.07B | 34.05B | 29.39B | 26.65B | 25.18B |
| Equity Growth % | 6.97% | 11.9% | 3.6% | 7.58% | 7.75% | 11.39% | 17.76% | 15.59% | 13.17% | 3.16% | - | - | - | - | - | - | - |
| Book Value per Share | 87.95 | 86.78 | 80.37 | 80.18 | 79.67 | 70.68 | 71.71 | 70.10 | 69.87 | 63.63 | 60.30 | 57.19 | 55.82 | 54.60 | 42.21 | 38.58 | 36.67 |
| Total Shareholders' Equity | 41B | 40.41B | 39.5B | 40.21B | 39.97B | 37.6B | 38.28B | 37.49B | 36.96B | 33.78B | 32.36B | 32.31B | 32.75B | 32.74B | 28.5B | 25.92B | 24.46B |
| Common Stock | 71K | 0 | 0 | 0 | 75K | 75K | 74K | 74K | 73K | 73K | 73K | 91K | 91K | 91K | 88K | 88K | 88K |
| Retained Earnings | 48.59B | 0 | 0 | 0 | 42.91B | 40.46B | 39.41B | 37.48B | 36.84B | 33.88B | 32.68B | 30.58B | 28.72B | 26.49B | 17.74B | 15.3B | 14.06B |
| Treasury Stock | -7.88B | 0 | 0 | 0 | -7.04B | -7.09B | -5.21B | -3.71B | -3.62B | -3.6B | -3.5B | -10.74B | -8.35B | -6.09B | 0 | 0 | 0 |
| Accumulated OCI | -1.21B | 0 | 0 | 0 | -807.39M | -725.61M | -684.55M | -730.5M | -695.59M | -694.8M | -736.99M | -841.25M | -707.63M | -546.77M | -58.95M | -41.36M | -34.34M |
| Minority Interest | 3.44B | 3.38B | 1.63B | 1.6B | 1.58B | 1.53B | 1.43B | 1.38B | 1.6B | 1.35B | 1.36B | 1.32B | 1.32B | 1.32B | 888.05M | 732.97M | 715.71M |