Company Valuation: JD Logistics, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 121,966 81,256 54,128 73,603 63,207 59,239 - -
Change - -33.38% -33.39% 35.98% -14.12% -6.28% - -
Enterprise Value (EV) 1 108,225 83,535 64,173 70,961 49,037 40,620 30,057 24,487
Change - -22.81% -23.18% 10.58% -30.9% -17.16% -26.01% -18.53%
P/E -6.75x -58.2x 88.8x 12.3x 9.68x 6.81x 5.87x 5.17x
PBR 2.82x 1.72x 1.12x 1.35x 1.18x 0.92x 0.8x 0.69x
PEG - 0.6x -1x 0x 1.19x 0.3x 0.4x 0.4x
Capitalization / Revenue 1.16x 0.59x 0.32x 0.4x 0.29x 0.22x 0.2x 0.19x
EV / Revenue 1.03x 0.61x 0.39x 0.39x 0.23x 0.15x 0.1x 0.08x
EV / EBITDA -171x 8.55x 4.39x 3.49x 2.38x 1.72x 1.2x 0.95x
EV / EBIT -36.4x -345x 84.4x 11.6x 9.12x 4.54x 2.85x 2.1x
EV / FCF 52.7x 9.85x 5.82x 4.3x 3.93x 2.66x 2.14x 1.66x
FCF Yield 1.9% 10.2% 17.2% 23.3% 25.4% 37.7% 46.8% 60.4%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -3.19 -0.23 0.1 0.98 1.06 1.313 1.524 1.731
Distribution rate - - - - - - - -
Net sales 1 104,693 137,402 166,625 182,838 217,147 264,447 290,497 316,012
EBITDA 1 -631.1 9,774 14,606 20,343 20,603 23,583 25,144 25,773
EBIT 1 -2,975 -242.4 760.2 6,105 5,375 8,938 10,549 11,662
Net income 1 -15,842 -1,397 616.2 6,198 6,647 8,383 9,660 10,877
Net Debt 1 -13,741 2,279 10,046 -2,642 -14,170 -18,618 -29,182 -34,751
Reference price 2 21.548 13.375 8.877 12.028 10.262 8.943 8.943 8.943
Nbr of stocks (in thousands) 5,660,170 6,075,430 6,097,253 6,119,238 6,159,104 6,623,722 - -
Announcement Date 10/03/22 09/03/23 06/03/24 06/03/25 05/03/26 - - -
1CNY in Million2CNY
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
6.81x0.15x1.72x-.--% 8.84B
19.19x7.6x16.18x3.75% 3.67B
73.05x2.36x32.09x-.--% 3.34B
27.34x0.81x5.18x-.--% 2.38B
15.6x0.35x9.39x3.35% 1.04B
12.47x - - 2.49% 870M
-21.61x - - - 862M
Average 18.98x 2.25x 12.91x 1.6% 3B
Weighted average by Cap. 21.34x 2.04x 10.58x 0.96%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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