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JD.com (HKSE:09618) Cyclically Adjusted Revenue per Share : HK$190.23 (As of Mar. 2024)


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What is JD.com Cyclically Adjusted Revenue per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

JD.com's adjusted revenue per share for the three months ended in Mar. 2024 was HK$89.938. Add all the adjusted revenue per share for the past 10 years together and divide the count will get our Cyclically Adjusted Revenue per Share, which is HK$190.23 for the trailing ten years ended in Mar. 2024.

During the past 12 months, JD.com's average Cyclically Adjusted Revenue Growth Rate was 23.10% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Revenue Growth Rate using Cyclically Adjusted Revenue per Share data.

As of today (2024-05-20), JD.com's current stock price is HK$136.80. JD.com's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2024 was HK$190.23. JD.com's Cyclically Adjusted PS Ratio of today is 0.72.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of JD.com was 1.95. The lowest was 0.47. And the median was 0.91.


JD.com Cyclically Adjusted Revenue per Share Historical Data

The historical data trend for JD.com's Cyclically Adjusted Revenue per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

JD.com Cyclically Adjusted Revenue per Share Chart

JD.com Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Revenue per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - - 145.54 179.63

JD.com Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Cyclically Adjusted Revenue per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 153.74 160.84 172.91 179.63 190.23

Competitive Comparison of JD.com's Cyclically Adjusted Revenue per Share

For the Internet Retail subindustry, JD.com's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


JD.com's Cyclically Adjusted PS Ratio Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, JD.com's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where JD.com's Cyclically Adjusted PS Ratio falls into.



JD.com Cyclically Adjusted Revenue per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

What is Cyclically Adjusted Revenue per Share? How do we calculate Cyclically Adjusted Revenue per Share?

Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Revenue per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the revenue per share from 2001 through 2010.

We adjusted the 2001 revenue per share data with the total inflation from 2001 through 2010 to the equivalent revenue in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's revenue is $1 a share in 2001, then the 2001's equivalent revenue in 2010 is $1.4 a share. If Wal-Mart's revenue is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 revenue in 2010 is $1.35. So on and so forth, you get the equivalent revenue per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, JD.com's adjusted Revenue per Share data for the three months ended in Mar. 2024 was:

Adj_RevenuePerShare= Revenue per Share /CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=89.938/115.2271*115.2271
=89.938

Current CPI (Mar. 2024) = 115.2271.

JD.com Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201406 7.399 98.200 8.682
201409 6.725 98.900 7.835
201412 15.925 99.000 18.535
201503 8.337 99.900 9.616
201506 10.490 99.500 12.148
201509 9.812 100.500 11.250
201512 11.938 100.600 13.674
201603 11.743 102.200 13.240
201606 13.681 101.400 15.547
201609 12.151 102.400 13.673
201612 15.707 102.600 17.640
201703 14.670 103.200 16.380
201706 18.764 103.100 20.971
201709 17.026 104.100 18.846
201712 22.321 104.500 24.612
201803 21.142 105.300 23.135
201806 25.871 104.900 28.418
201809 20.256 106.600 21.895
201812 26.452 106.500 28.620
201903 23.983 107.700 25.659
201906 28.746 107.700 30.755
201909 24.992 109.800 26.227
201912 65.553 111.200 67.927
202003 26.963 112.300 27.666
202006 36.175 110.400 37.757
202009 31.061 111.700 32.042
202012 85.686 111.500 88.550
202103 75.534 112.662 77.254
202106 96.114 111.769 99.088
202109 82.702 112.215 84.922
202112 108.569 113.108 110.603
202203 94.830 114.335 95.570
202206 98.766 114.558 99.343
202209 85.611 115.339 85.528
202212 103.831 115.116 103.932
202303 86.629 115.116 86.713
202306 99.474 114.558 100.055
202309 83.819 115.339 83.738
202312 105.737 114.781 106.148
202403 89.938 115.227 89.938

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.


JD.com  (HKSE:09618) Cyclically Adjusted Revenue per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Revenue per Share may underestimate the company's revenue. Cyclically Adjusted PS Ratio can seem to be too high even the actual PS Ratio is low.

For the Cyclically Adjusted PS Ratio, the revenue per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/S calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PS Ratio is also called CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

JD.com's Cyclically Adjusted PS Ratio of today is calculated as

Cyclically Adjusted PS Ratio=Share Price/Cyclically Adjusted Revenue per Share
=136.80/190.23
=0.72

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of JD.com was 1.95. The lowest was 0.47. And the median was 0.91.


Be Aware

Cyclically Adjusted PS Ratio works better for cyclical companies. It gives you a better idea on the company's real revenue value.


JD.com Cyclically Adjusted Revenue per Share Related Terms

Thank you for viewing the detailed overview of JD.com's Cyclically Adjusted Revenue per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


JD.com (HKSE:09618) Business Description

Industry
Address
No. 18 Kechuang 11 Street, 20th Floor, Building A, Yizhuang Economic and Technological Development Zo, Daxing District, Beijing, CHN, 101111
JD.com is a leading e-commerce platform with its 2022 China GMV being similar to Pinduoduo (GMV not reported), on our estimate, but still lower than Alibaba. it offers a wide selection of authentic products with speedy and reliable delivery. The company has built its own nationwide fulfilment infrastructure and last-mile delivery network, staffed by its own employees, which supports both its online direct sales, its online marketplace and omnichannel businesses.

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