Side by sideAlibaba (9988.HK) and JD.com (9618.HK)Memos of October 12, 2026 and October 16, 2026
Alibaba vs JD.com stock: the numbers side by side (October 2026)
How do Alibaba and JD.com compare?
| Alibaba 9988.HK | JD.com 9618.HK | |
|---|---|---|
| Operating margin | 4.9%Mar 2026 | 0.2%2025 |
| Free cash flow | -50,724RMB millions · Mar 2026 | 1,200RMB millions · 2025 |
| Free cash flow yield | -2.8%Today (Oct 12, 2026) | 0.5%Today (Oct 16, 2026) |
| P/E, last 12 months | 25.70xToday (Oct 12, 2026) | 18.4xToday (Oct 16, 2026) |
| P/E, next 12 months | 12.07xToday (Oct 12, 2026) | 8.4xToday (Oct 16, 2026) |
| Weighted price forecast, about 1 year | 98.99 (-8 %)October 2027 | 196.12 (+89 %)October 2027 |
| Weighted price forecast, about 3 years | 146.52 (+38 %)October 2029 | 285.37 (+180 %)October 2029 |
Who leads on what?
| Leads | The lead is | |
|---|---|---|
| Operating margin | Alibaba | The higher figure |
| Free cash flow | JD.com | The higher figure |
| Free cash flow yield | JD.com | The higher figure |
| P/E, last 12 months | JD.com | The lower figure |
| P/E, next 12 months | JD.com | The lower figure |
| Weighted price forecast, about 1 year | JD.com | The higher weighted return |
| Weighted price forecast, about 3 years | JD.com | The higher weighted return |
What does each company do?
Alibaba connects shoppers with merchants through Taobao and Tmall, and serves businesses through cloud, AI and logistics.
Alibaba (9988.HK), from our memo of October 12, 2026 · Alibaba stock forecast
JD.com sells goods from its own inventory, hosts independent merchants, and earns from advertising, logistics and business services.
JD.com (9618.HK), from our memo of October 16, 2026 · JD.com stock forecast
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