VIPS FY 2021 Earnings Report — Vipshop Holdings Limited Revenue & Financial Results | Market Cap Arena

Vipshop Holdings LimitedVIPS

FY 2021 Earnings

Reported April 27, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$17.1B	—	$14.9B	—	14.9%
Op. Income	$816M	—	$856M	—	-4.7%
Gross Margin	19.7%	—	20.9%	—	-1.2pp
Net Margin	4.0%	—	5.8%	—	-1.8pp
EPS (Diluted)	$0.99	—	$1.25	—	-21.1%
Free Cash Flow	$463M	—	$1.4B	—	-66.8%

Revenue Flow

Item	Amount
REVENUE	$17.1B
Cost of Revenue	$13.7B
GROSS PROFIT	$3.4B
R&D Expenses	$222M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.5B
Other Expenses	-$126M
Operating Expenses	$2.6B
Cost & Expenses	$16.3B
OPERATING INCOME	$816M
Interest Income	$98M
Interest Expense	$2M
Other Income/Expenses	$49M
INCOME BEFORE TAX	$864M
Income Tax Expense	$179M
Net Income from Continuing Ops	$686M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$684M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$684M
D&A	$162M
EBIT	$800M
EBITDA	$962M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$17.1B
Cost of Revenue	$13.7B
GROSS PROFIT	$3.4B
R&D Expenses	$222M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.5B
Other Expenses	-$126M
Operating Expenses	$2.6B
Cost & Expenses	$16.3B
OPERATING INCOME	$816M
Interest Income	$98M
Interest Expense	$2M
Other Income/Expenses	$49M
INCOME BEFORE TAX	$864M
Income Tax Expense	$179M
Net Income from Continuing Ops	$686M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$684M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$684M
D&A	$162M
EBIT	$800M
EBITDA	$962M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$686M
Depreciation & Amortization	$184M
Stock-Based Compensation	$148M
Deferred Income Tax	-$22M
Other Non-Cash Items	$99M
Change in Working Capital	-$108M
OPERATING CASH FLOW	$985M
Capital Expenditure	-$523M
Acquisitions (Net)	-$45M
Purchases of Investments	-$1.3B
Sales/Maturities of Investments	$1.5B
Other Investing Activities	-$26M
NET CASH FROM INVESTING	-$340M
Net Debt Issuance	$150M
Common Stock Repurchased	-$283M
Common Dividends Paid	$0
Other Financing Activities	$125M
NET CASH FROM FINANCING	-$9M
FREE CASH FLOW	$463M
Net Change in Cash	$637M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.4B
Short-Term Investments	$786M
Net Receivables	$403M
Inventory	$1.0B
Other Current Assets	$128M
TOTAL CURRENT ASSETS	$4.8B
PP&E (Net)	$2.3B
Goodwill	$86M
Intangible Assets	$1.0B
Long-Term Investments	$725M
Tax Assets	$111M
Other Non-Current Assets	$43M
TOTAL NON-CURRENT ASSETS	$4.3B
TOTAL ASSETS	$9.1B
Account Payables	$1.9B
Short-Term Debt	$299M
Deferred Revenue	$333M
Other Current Liabilities	$162M
TOTAL CURRENT LIABILITIES	$3.8B
Long-Term Debt	$0
Deferred Revenue NC	$150M
Deferred Tax Liabilities	$64M
Other Non-Current Liabilities	$40M
TOTAL NON-CURRENT LIABILITIES	$393M
TOTAL LIABILITIES	$4.2B
Common Stock	$13.3K
Additional Paid-In Capital	$1.8B
Retained Earnings	$3.3B
Treasury Stock	-$282M
Accum. Other Comp. Income	-$13M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.8B
Minority Interest	$175M
TOTAL EQUITY	$4.9B
TOTAL LIABILITIES & EQUITY	$9.1B
Total Debt	$480M
Net Debt	-$1.9B