VIPS FY 2019 Earnings Report — Vipshop Holdings Limited Revenue & Financial Results | Market Cap Arena

Vipshop Holdings LimitedVIPS

FY 2019 Earnings

Reported April 27, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$13.6B	—	$12.4B	—	10.0%
Op. Income	$697M	—	$354M	—	97.2%
Gross Margin	22.2%	—	20.2%	—	2.0pp
Net Margin	4.3%	—	2.5%	—	1.8pp
EPS (Diluted)	$0.86	—	$0.44	—	94.1%
Free Cash Flow	$1.2B	—	$315M	—	272.2%

Revenue Flow

Item	Amount
REVENUE	$13.6B
Cost of Revenue	$10.6B
GROSS PROFIT	$3.0B
R&D Expenses	$229M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.1B
Other Expenses	$25M
Operating Expenses	$2.3B
Cost & Expenses	$12.9B
OPERATING INCOME	$697M
Interest Income	$32M
Interest Expense	$13M
Other Income/Expenses	$29M
INCOME BEFORE TAX	$726M
Income Tax Expense	$144M
Net Income from Continuing Ops	$582M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$587M
Net Income Deductions	-$1M
BOTTOM LINE NET INCOME	$588M
D&A	$124M
EBIT	$805M
EBITDA	$928M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$13.6B
Cost of Revenue	$10.6B
GROSS PROFIT	$3.0B
R&D Expenses	$229M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.1B
Other Expenses	$25M
Operating Expenses	$2.3B
Cost & Expenses	$12.9B
OPERATING INCOME	$697M
Interest Income	$32M
Interest Expense	$13M
Other Income/Expenses	$29M
INCOME BEFORE TAX	$726M
Income Tax Expense	$144M
Net Income from Continuing Ops	$582M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$587M
Net Income Deductions	-$1M
BOTTOM LINE NET INCOME	$588M
D&A	$124M
EBIT	$805M
EBITDA	$928M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$582M
Depreciation & Amortization	$139M
Stock-Based Compensation	$101M
Deferred Income Tax	$198M
Other Non-Cash Items	$44M
Change in Working Capital	$732M
OPERATING CASH FLOW	$1.8B
Capital Expenditure	-$625M
Acquisitions (Net)	-$490M
Purchases of Investments	-$478M
Sales/Maturities of Investments	$365M
Other Investing Activities	$24M
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	-$873M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$41M
NET CASH FROM FINANCING	-$914M
FREE CASH FLOW	$1.2B
Net Change in Cash	-$339M

Balance Sheet

Item	Amount
Cash & Equivalents	$961M
Short-Term Investments	$446M
Net Receivables	$144M
Inventory	$1.1B
Other Current Assets	$544M
TOTAL CURRENT ASSETS	$3.4B
PP&E (Net)	$1.9B
Goodwill	$35M
Intangible Assets	$869M
Long-Term Investments	$747M
Tax Assets	$79M
Other Non-Current Assets	$104M
TOTAL NON-CURRENT ASSETS	$3.7B
TOTAL ASSETS	$7.1B
Account Payables	$2.0B
Short-Term Debt	$160M
Deferred Revenue	$309M
Other Current Liabilities	$70M
TOTAL CURRENT LIABILITIES	$3.5B
Long-Term Debt	$9M
Deferred Revenue NC	$114M
Deferred Tax Liabilities	$24M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$352M
TOTAL LIABILITIES	$3.8B
Common Stock	$12.7K
Additional Paid-In Capital	$1.5B
Retained Earnings	$1.7B
Treasury Stock	$0
Accum. Other Comp. Income	-$8M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.2B
Minority Interest	$62M
TOTAL EQUITY	$3.3B
TOTAL LIABILITIES & EQUITY	$7.1B
Total Debt	$422M
Net Debt	-$539M