Vipshop Holdings Limited
- Open
- 13.46
- Day high
- 13.46
- Day low
- 12.86
- Prev close
- 13.50
- Volume
- 3.4M
- Mkt cap
- $6.2B
- P/E (TTM)
- 4.2
- EPS (TTM)
- $3.15
- P/B
- 0.9
- P/S
- 0.4
- Yield
- 4.73%
- Per share
- $0.62
- ▼Insiders net selling -$388K over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions mixed (13F)
Vipshop Holdings Limited (VIPS) is a Consumer Cyclical company listed on NYSE. The stock is down 22% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4). Drillr has 2 published research articles covering VIPS.
Vipshop Holdings Limited (VIPS) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
VIPS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 25, 2026 | $0.59 | $0.12 | -79.7% | $3.6B | +0.0% |
| May 21, 2026 | $0.68 | $0.68 | +0.0% | $3.9B | +0.1% |
| Nov 20, 2025 | $0.43 | $0.42 | -2.3% | $3.0B | -36.2% |
| Aug 14, 2025 | $0.56 | $0.57 | +1.8% | $3.6B | +22.9% |
| May 20, 2025 | $0.66 | $0.61 | -7.6% | $3.6B | -2.0% |
| Nov 19, 2024 | $0.33 | $0.35 | +7.7% | $2.9B | -22.3% |
| Aug 20, 2024 | $0.55 | $0.54 | -1.1% | $3.7B | +610.0% |
| May 22, 2024 | $0.59 | $0.65 | +9.6% | $3.8B | +604.4% |
| Nov 14, 2023 | $0.40 | $0.46 | +14.1% | $3.1B | +633.8% |
| Aug 18, 2023 | $0.46 | $0.59 | +28.0% | $3.8B | +632.2% |
| May 23, 2023 | $0.39 | $0.51 | +30.8% | $4.0B | +660.7% |
| Feb 23, 2023 | $0.50 | $0.53 | +6.4% | $4.6B | +1.1% |
VIPS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 9, 2026 | Li Tianminofficer: Chief Technology Officer | Sell | 2,518 | $67.45 |
| Jul 9, 2026 | Liu Chundirector | Sell | 174 | $67.31 |
| Jun 11, 2026 | Yang Donghaodirector | Sell | 397 | $69.30 |
| Jun 11, 2026 | Wang Yuhuaofficer: Chief Financial Officer | Sell | 2,589 | $69.12 |
| Apr 13, 2026 | Liu Chundirector | Sell | 145 | $77.88 |
| Apr 10, 2026 | Li Tianminofficer: Chief Technology Officer | Sell | 2,482 | $77.88 |
Source: VIPS SEC Form 4 filings, latest Jul 9, 2026. For informational purposes only — not investment advice.
See the full VIPS insider & 13F page →VIPS research & analysis
ZTO Express (ZTO), Vipshop (VIPS): Returns Drive Parcel Growth
ZTO's return parcels rose about 80% to 9.8 million a day against 4.2% industry volume growth, while Vipshop's fulfilment expense hit 8.7% of net revenues.
002352.SZ09699.HK600233.SHVipshop (VIPS), Kanzhun (BZ) Hit by 10% Hong Kong Dividend Tax
PRC authorities denied the 5% mainland-Hong Kong treaty withholding rate to intermediate holdcos; Vipshop's non-GAAP net margin fell to 1.6% from 8.0%.
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Vipshop Holdings Limited company profile
Overview
Vipshop Holdings Limited (NYSE:VIPS) is a Chinese e-commerce company founded in 2008 and headquartered in Guangzhou, China. The company went public on the New York Stock Exchange in March 2012. Vipshop operates as a leading online discount retailer specializing in branded fashion and lifestyle products, serving primarily Chinese consumers through its flash sales model. The company has evolved from a startup to one of China's major e-commerce platforms, focusing on providing authentic branded merchandise at discounted prices through limited-time sales events.
Business
Vipshop operates in the specialty retail sector within China's e-commerce market, functioning as an online discount retailer that specializes in flash sales of branded merchandise. Flash sales are time-limited promotional events where products are offered at significant discounts for short periods, typically lasting 24-72 hours, creating urgency and driving purchase decisions. The company's core business revolves around three main segments: Vip.com (the primary platform), Shan Shan Outlets, and other smaller operations. Vip.com represents the vast majority of revenue and serves as the company's flagship online marketplace. Vipshop's product portfolio spans multiple categories: 1. Women's apparel accounts for approximately 75% of total Gross Merchandise Value (GMV), including casual wear, formal wear, lingerie, and maternity clothes. 2. Men's apparel comprises casual and formal clothing, underwear, and accessories. 3. Beauty and cosmetics includes skincare products, makeup, and personal care items. 4. Shoes and accessories features footwear, handbags, luggage, and wallets. 5. Children's products encompasses clothing, toys, and accessories for infants and children. 6. Home and lifestyle includes home furnishings, appliances, and decor items. 7. Consumer electronics covers digital products and gadgets. 8. Food and beverages includes snacks, fresh produce, and pet products. The company also operates a "Made for VIP" program, where it collaborates with over 200 brand partners to create customized products exclusively for its platform. Additionally, Vipshop provides ancillary services including warehousing, logistics, supply chain management, and internet finance services such as consumer financing and microcredit facilities.
Revenue model
Vipshop generates revenue primarily through product sales on its e-commerce platforms, operating on a traditional retail model where it purchases inventory from brands and manufacturers, then sells directly to consumers at marked-up prices. The company's revenue streams include: 1. Product sales revenue from direct sales of merchandise across all categories. 2. Commission fees from third-party sellers on its marketplace. 3. Logistics and fulfillment services provided to brand partners. 4. Financial services revenue from consumer financing and supplier financing programs. The company's primary customers are Chinese consumers, particularly women aged 25-45 who are price-conscious but seek authentic branded products. The Super VIP (SVIP) membership program represents a crucial customer segment, with 8.8 million active members contributing approximately 51% of total online spending. These premium customers enjoy exclusive benefits, early access to sales, and enhanced customer service. Several factors influence Vipshop's profitability margins: Positive margin drivers include economies of scale in procurement allowing better wholesale pricing, the company's strong relationships with over 1,500 brand partners providing favorable terms, operational efficiency improvements in logistics and fulfillment, and the growing proportion of higher-margin customized "Made for VIP" products. Negative margin pressures come from intense competition in Chinese e-commerce requiring promotional spending, fluctuating consumer sentiment affecting demand, seasonal variations in apparel sales, and the need for continuous technology investments to maintain competitiveness. The company's gross margin has improved significantly over recent years, reaching 23.5% in 2024 compared to 19.7% in 2022, demonstrating successful execution of its strategy to focus on higher-margin branded merchandise and operational efficiency improvements.
Competitive moat
Vipshop's competitive moat is moderate but faces significant challenges in China's highly competitive e-commerce landscape. The company's primary defensive advantages include: 1. Brand relationships and procurement expertise - Vipshop has cultivated relationships with over 1,500 brand partners and developed sophisticated merchandising capabilities that enable it to secure quality inventory at favorable terms. 2. Flash sales expertise - The company has refined its flash sales model over more than a decade, developing proprietary algorithms for demand forecasting, inventory management, and pricing optimization. 3. Logistics infrastructure - Vipshop operates an extensive fulfillment network across China, providing reliable delivery services that enhance customer experience. 4. Customer loyalty through SVIP program - The Super VIP membership creates switching costs and generates higher customer lifetime value. However, these moats face substantial competitive pressures: Intense competition from larger e-commerce giants like Alibaba (Tmall, Taobao) and JD.com, which have superior scale, resources, and market reach. Platform dependency risks as mobile internet platforms and social commerce (like Douyin/TikTok shopping) change consumer behavior patterns. Brand disintermediation threats where major brands increasingly sell directly to consumers through their own channels or larger platforms. Economic sensitivity as the discount retail model is vulnerable to economic downturns when even price-conscious consumers reduce spending. The company's competitive position is best described as a niche player with specialized expertise in branded discount retail, but lacking the scale and ecosystem advantages of China's e-commerce leaders. Its survival depends on maintaining operational excellence and continuing to provide unique value to both brand partners and consumers in an increasingly crowded market.
Risks & safety
Vipshop demonstrates a strong financial safety profile with solid liquidity and conservative capital structure. • Cash position: RMB 3.6 billion ($591 million) in cash and short-term investments as of Q4 2024, providing substantial liquidity cushion • Debt levels: Very low debt-to-equity ratio of 0.076, indicating minimal financial leverage and low solvency risk • Current ratio: 1.26, showing adequate short-term liquidity to meet obligations • Cash generation: Strong operating cash flow of RMB 1.24 billion in 2024, with positive free cash flow of RMB 759 million • Valuation metrics: Trading at 26.2x P/E ratio and 6.4x price-to-book, suggesting moderate valuation levels • Profitability: Consistent profitability with 7.2% net margin and 19.4% return on equity in 2024 • Shareholder returns: Management committed to returning at least 75% of non-GAAP net income to shareholders through dividends and buybacks • Other considerations: Exposure to Chinese consumer spending patterns and regulatory risks, but strong balance sheet provides buffer against economic volatility
Recent development
Over the past few years, Vipshop has undergone significant strategic evolution focused on strengthening its core discount retail model while adapting to changing market conditions. The company has made substantial investments in merchandising capabilities, adding over 1,500 new brand partners and developing deeper relationships with existing ones. A key innovation has been the expansion of the "Made for VIP" program, where Vipshop collaborates with over 200 brand partners to create customized products exclusively for its platform, achieving over 140% GMV growth in this segment during 2024. The company has prioritized customer segmentation and loyalty through its Super VIP membership program, which grew by 50% in 2024 to reach 8.8 million active members. These premium customers now contribute 51% of online spending, demonstrating the success of Vipshop's strategy to focus on high-value customer relationships rather than pure user acquisition. Technology and AI integration represents another major development area, with Vipshop implementing generative AI across various business functions including search optimization, product recommendations, customer service, and internal analytical tools. The company has invested in large language models and advanced algorithms to improve operational efficiency and customer experience. From a financial perspective, Vipshop has shifted toward disciplined capital allocation, implementing a policy to return at least 75% of non-GAAP net income to shareholders through dividends and share buybacks. The company returned over $2.2 billion to shareholders since April 2021, demonstrating commitment to shareholder value creation. Despite revenue challenges due to macroeconomic headwinds in China, the company has maintained profitability and improved gross margins to an 8-year high of 23.5% in 2024.
VIPS company profile · for informational purposes only — not investment advice.
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