Business Description
Alibaba Group Holding Limited is a Chinese multinational technology and e-commerce conglomerate. The company operates some of the world's largest online marketplaces, including Taobao, Tmall, and AliExpress, connecting consumers and merchants globally. Beyond its core retail business, Alibaba has significant operations in cloud computing, digital media, logistics, and local consumer services.
Financial Statements
In thousands, USD
| FY 2026 | FY 2025 | FY 2024 | FY 2023 | |
|---|---|---|---|---|
| Total Revenues | 1,023,670,000 | 996,347,000 | 941,168,000 | 868,687,000 |
| Cost of Sales | 616,136,000 | 598,285,000 | 586,323,000 | 549,695,000 |
| Gross Profit | 407,534,000 | 398,062,000 | 354,845,000 | 318,992,000 |
| Selling, General & Administrative Expenses | 278,105,000 | 188,260,000 | 157,126,000 | 145,679,000 |
| Depreciation & Amortization Expenses | 5,079,000 | 6,336,000 | 21,592,000 | 13,504,000 |
| Research & Development Expenses | 66,533,000 | 57,151,000 | 52,256,000 | 56,744,000 |
| Other Operating Expenses | 7,667,000 | 5,410,000 | 10,521,000 | 2,714,000 |
| Operating Profit | 50,150,000 | 140,905,000 | 113,350,000 | 100,351,000 |
| Interest and Investment Income | 87,512,000 | 20,759,000 | (9,964,000) | (11,071,000) |
| Interest Expense | (9,793,000) | (9,596,000) | (7,947,000) | (5,918,000) |
| Non-Operating Income | 4,303,000 | 9,353,000 | (1,578,000) | (2,240,000) |
| Total Non-Operating Income | 82,022,000 | 20,516,000 | (19,489,000) | (19,229,000) |
| Income Before Provision for Income Taxes | 132,172,000 | 161,421,000 | 93,861,000 | 81,122,000 |
| Provision for Income Taxes | 30,045,000 | 35,445,000 | 22,529,000 | 15,549,000 |
| Consolidated Net Income | 102,127,000 | 125,976,000 | 71,332,000 | 65,573,000 |
| Net Income Attributable to Minority Interests and Other | (1,465,000) | (4,133,000) | (8,677,000) | (7,210,000) |
| Net Income Attributable to Preferred Dividends | (2,312,000) | 639,000 | 268,000 | 274,000 |
| Net Income Attributable to Common Shareholders | 105,904,000 | 129,470,000 | 79,741,000 | 72,509,000 |
| Basic EPS | 45.60 | 55.12 | 31.60 | 27.68 |
| Diluted EPS | 44.00 | 53.60 | 31.28 | 27.44 |
| Basic Weighted Average Shares Outstanding | 2,321,000 | 2,348,880 | 2,522,750 | 2,622,500 |
| Diluted Weighted Average Shares Outstanding | 2,404,380 | 2,414,750 | 2,544,880 | 2,639,250 |
| Shares Outstanding | 2,322,550 | 2,309,280 | 2,433,640 | 2,565,750 |
| FY 2026 | FY 2025 | FY 2024 | FY 2023 | |
|---|---|---|---|---|
| Cash and Cash Equivalents | 131,530,000 | 145,487,000 | 248,125,000 | 193,086,000 |
| Short-Term Investments | 185,364,000 | 282,606,000 | 322,904,000 | 331,384,000 |
| Total Cash and Cash Equivalents | 316,894,000 | 428,093,000 | 571,029,000 | 524,470,000 |
| Other Current Assets | 293,875,000 | 245,956,000 | 181,835,000 | 173,496,000 |
| Total Current Assets | 610,769,000 | 674,049,000 | 752,864,000 | 697,966,000 |
| Net Property, Plant & Equipment | 282,699,000 | 203,348,000 | 185,161,000 | 176,031,000 |
| Net Intangible Assets | 16,983,000 | 20,911,000 | 26,950,000 | 46,913,000 |
| Goodwill | 247,378,000 | 255,501,000 | 259,679,000 | 268,091,000 |
| Long-Term Investments | 656,745,000 | 566,987,000 | 424,073,000 | 453,117,000 |
| Other Long-Term Assets | 94,996,000 | 83,431,000 | 116,102,000 | 110,926,000 |
| Total Assets | 1,909,570,000 | 1,804,230,000 | 1,764,830,000 | 1,753,040,000 |
| Accounts Payable | 359,893,000 | 332,537,000 | 297,883,000 | 275,950,000 |
| Short-Term Debt | 28,224,000 | 22,562,000 | 12,749,000 | 7,466,000 |
| Current Portion of Long-Term Debt | — | — | 16,252,000 | 4,800,000 |
| Unearned Revenue | 77,415,000 | 68,335,000 | 72,818,000 | 71,295,000 |
| Other Current Liabilities | 10,866,000 | 11,912,000 | 21,805,000 | 25,840,000 |
| Total Current Liabilities | 476,398,000 | 435,346,000 | 421,507,000 | 385,351,000 |
| Long-Term Debt | 231,772,000 | 208,141,000 | 141,775,000 | 149,088,000 |
| Other Long-Term Liabilities | 75,130,000 | 70,634,000 | 88,948,000 | 95,684,000 |
| Total Long-Term Liabilities | 306,902,000 | 278,775,000 | 230,723,000 | 244,772,000 |
| Total Liabilities | 783,300,000 | 714,121,000 | 652,230,000 | 630,123,000 |
| Common Stock | 1,000 | 1,000 | 1,000 | 1,000 |
| Treasury Stock | (36,141,000) | (36,329,000) | (27,684,000) | (28,763,000) |
| Additional Paid-in Capital | 385,086,000 | 381,379,000 | 397,999,000 | 416,831,000 |
| Accumulated Other Comprehensive Income | (13,070,000) | 3,393,000 | 3,598,000 | (10,417,000) |
| Retained Earnings | 725,010,000 | 661,414,000 | 612,630,000 | 612,005,000 |
| Total Common Shareholders' Equity | 1,060,890,000 | 1,009,860,000 | 986,544,000 | 989,657,000 |
| Minority Interests and Other | 65,384,000 | 80,248,000 | 126,055,000 | 133,264,000 |
| Total Shareholders' Equity | 1,126,270,000 | 1,090,110,000 | 1,112,600,000 | 1,122,920,000 |
| Total Liabilities and Shareholders' Equity | 1,909,570,000 | 1,804,230,000 | 1,764,830,000 | 1,753,040,000 |
| FY 2026 | FY 2025 | FY 2024 | FY 2023 | |
|---|---|---|---|---|
| Net Income | 102,127,000 | 125,976,000 | 71,332,000 | 65,573,000 |
| Depreciation & Amortization | 47,118,000 | 42,459,000 | 44,504,000 | 46,938,000 |
| Share-Based Compensation Expense | 11,180,000 | 13,970,000 | 18,546,000 | 31,342,000 |
| Other Adjustments | (61,665,000) | 5,092,000 | 61,960,000 | 42,417,000 |
| Changes in Accounts Payable | 37,933,000 | 25,873,000 | 27,126,000 | 11,159,000 |
| Changes in Income Taxes Payable | (1,973,000) | 1,968,000 | (4,764,000) | (9,214,000) |
| Changes in Unearned Revenue | 9,462,000 | 11,224,000 | 2,070,000 | 4,382,000 |
| Changes in Other Operating Activities | (67,969,000) | (63,053,000) | (38,181,000) | 7,155,000 |
| Cash from Operating Activities | 76,213,000 | 163,509,000 | 182,593,000 | 199,752,000 |
| Capital Expenditure | (126,063,000) | (85,972,000) | (32,087,000) | (34,330,000) |
| Proceeds from Sale of Property, Plant & Equipment | 541,000 | 2,428,000 | 373,000 | 644,000 |
| Purchases of Intangible Assets | (874,000) | — | (842,000) | (22,000) |
| Purchases of Investments | (67,476,000) | (14,164,000) | (18,765,000) | (22,370,000) |
| Proceeds from Sale of Investments | 86,312,000 | 19,734,000 | 23,231,000 | 22,739,000 |
| Payments for Business Acquisitions | (1,212,000) | 353,000 | (2,204,000) | (1,204,000) |
| Proceeds from Business Divestments | 11,421,000 | (5,077,000) | 699,000 | (5,000) |
| Other Investing Activities | 30,015,000 | (102,717,000) | 7,771,000 | (100,958,000) |
| Cash from Investing Activities | (67,336,000) | (185,415,000) | (21,824,000) | (135,506,000) |
| Issuance of Long-Term Debt | 117,490,000 | 124,432,000 | 20,570,000 | 22,790,000 |
| Repayments of Long-Term Debt | (79,767,000) | (64,510,000) | (18,105,000) | (11,448,000) |
| Net Issuance / (Repayments) of Long-Term Debt | 37,723,000 | 59,922,000 | 2,465,000 | 11,342,000 |
| Issuance of Common Shares | 1,042,000 | 10,000 | 843,000 | 11,000 |
| Repurchases of Common Shares | (7,638,000) | (86,662,000) | (88,745,000) | (74,746,000) |
| Net Issuance / (Repurchases) of Common Shares | (6,596,000) | (86,652,000) | (87,902,000) | (74,735,000) |
| Common Share Dividends Paid | (33,732,000) | (29,077,000) | (17,946,000) | — |
| Other Financing Activities | (17,968,000) | (20,408,000) | (4,861,000) | (2,226,000) |
| Cash from Financing Activities | (20,573,000) | (76,215,000) | (108,244,000) | (65,619,000) |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | (4,004,000) | 965,000 | 4,389,000 | 3,530,000 |
| Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash | (15,700,000) | (97,156,000) | 56,914,000 | 2,157,000 |
Key Metrics & Ratios
| Metric | Value |
|---|---|
| Market Cap | $291.39B |
| P/E | 19.66x |
| P/S | 1.96x |
| EV/EBITDA | 20.74x |
| Return on Equity | 9.2% |
| Return on Invested Capital | 3.1% |
| Current Ratio | 1.28x |
| Dividend Yield | 1.7% |
| Free Cash Flow Margin | -4.9% |
Margins
Gross margin
39.8%
Operating margin
4.9%
Net margin
10.0%
Quarterly Trend
| Quarter | Revenue | YoY growth | Operating margin | Operating income |
|---|---|---|---|---|
| Q4 2026 | $243.38B | +2.9% | -0.3% | $-848M |
| Q3 2026 | $284.84B | +1.7% | 3.7% | $10.64B |
| Q2 2026 | $247.79B | +4.8% | 2.2% | $5.37B |
| Q1 2026 | $247.65B | +1.8% | 14.1% | $34.99B |
| Q4 2025 | $236.45B | — | 12.0% | $28.46B |
| Q3 2025 | $280.15B | — | 14.7% | $41.20B |
| Q2 2025 | $236.50B | — | 14.9% | $35.25B |
| Q1 2025 | $243.24B | — | 14.8% | $35.99B |
More on Alibaba Group Holding Limited
Figures compiled from public company filings.
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