VIPS FY 2020 Earnings Report — Vipshop Holdings Limited Revenue & Financial Results | Market Cap Arena

Vipshop Holdings LimitedVIPS

FY 2020 Earnings

Reported April 16, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$14.9B	—	$13.6B	—	9.5%
Op. Income	$856M	—	$697M	—	22.8%
Gross Margin	20.9%	—	22.2%	—	-1.3pp
Net Margin	5.8%	—	4.3%	—	1.5pp
EPS (Diluted)	$1.25	—	$0.86	—	45.1%
Free Cash Flow	$1.4B	—	$1.2B	—	19.2%

Revenue Flow

Item	Amount
REVENUE	$14.9B
Cost of Revenue	$11.8B
GROSS PROFIT	$3.1B
R&D Expenses	$178M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.2B
Other Expenses	-$97M
Operating Expenses	$2.3B
Cost & Expenses	$14.0B
OPERATING INCOME	$856M
Interest Income	$66M
Interest Expense	$10M
Other Income/Expenses	$174M
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$165M
Net Income from Continuing Ops	$865M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$863M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$863M
D&A	$147M
EBIT	$844M
EBITDA	$991M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$14.9B
Cost of Revenue	$11.8B
GROSS PROFIT	$3.1B
R&D Expenses	$178M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.2B
Other Expenses	-$97M
Operating Expenses	$2.3B
Cost & Expenses	$14.0B
OPERATING INCOME	$856M
Interest Income	$66M
Interest Expense	$10M
Other Income/Expenses	$174M
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$165M
Net Income from Continuing Ops	$865M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$863M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$863M
D&A	$147M
EBIT	$844M
EBITDA	$991M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$865M
Depreciation & Amortization	$166M
Stock-Based Compensation	$139M
Deferred Income Tax	-$15M
Other Non-Cash Items	$52M
Change in Working Capital	$520M
OPERATING CASH FLOW	$1.7B
Capital Expenditure	-$332M
Acquisitions (Net)	-$235M
Purchases of Investments	-$2.1B
Sales/Maturities of Investments	$1.6B
Other Investing Activities	$125M
NET CASH FROM INVESTING	-$978M
Net Debt Issuance	-$21M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$18M
NET CASH FROM FINANCING	-$3M
FREE CASH FLOW	$1.4B
Net Change in Cash	$744M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.8B
Short-Term Investments	$1.1B
Net Receivables	$49M
Inventory	$1.1B
Other Current Assets	$441M
TOTAL CURRENT ASSETS	$4.6B
PP&E (Net)	$2.2B
Goodwill	$87M
Intangible Assets	$953M
Long-Term Investments	$703M
Tax Assets	$92M
Other Non-Current Assets	$15M
TOTAL NON-CURRENT ASSETS	$4.1B
TOTAL ASSETS	$8.6B
Account Payables	$2.2B
Short-Term Debt	$152M
Deferred Revenue	$335M
Other Current Liabilities	$81M
TOTAL CURRENT LIABILITIES	$3.9B
Long-Term Debt	$0
Deferred Revenue NC	$156M
Deferred Tax Liabilities	$63M
Other Non-Current Liabilities	$18M
TOTAL NON-CURRENT LIABILITIES	$436M
TOTAL LIABILITIES	$4.3B
Common Stock	$12.9K
Additional Paid-In Capital	$1.6B
Retained Earnings	$2.6B
Treasury Stock	$0
Accum. Other Comp. Income	-$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.2B
Minority Interest	$130M
TOTAL EQUITY	$4.3B
TOTAL LIABILITIES & EQUITY	$8.6B
Total Debt	$395M
Net Debt	-$1.4B