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JD Strengthens Supply Chain Globally: Can Logistics Unlock More Upside?
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Key Takeaways
JD Logistics revenues rose 16.6% year over year to RMB 51.6 billion in Q2 2025.
JD launched JoyExpress in Saudi Arabia and plans to double overseas warehouse capacity by 2025.
JD operates 130 warehouses in 23 countries with 1.3M sq. meters of managed space globally.
JD.com's (JD - Free Report) logistics arm is scaling rapidly, underscoring the strength of its global expansion strategy. In the second quarter of 2025, JD Logistics (“JDL”) reported revenues of RMB 51.6 billion, representing 16.6% year-over-year growth, with both internal and external businesses sustaining double-digit momentum. This performance highlights JDL's ability to drive growth beyond its core retail operations.
A key milestone came with the launch of JoyExpress in Saudi Arabia, JDL’s first self-operated express delivery service overseas. The move signals a renewed push to build an international presence, supported by management’s commitment to doubling overseas warehouse capacity by the end of 2025. Such steps not only extend JD’s global footprint but also strengthen supply chain resilience and support long-term growth.
Globally, JDL operates over 130 warehouses across 23 countries, spanning North America, Europe, Asia and the Middle East, with a managed space of over 1.3 million square meters. By integrating warehouses, transit hubs, cross-border transport and local delivery, the company is building a brilliant supply chain network.
JDL is focused on increasing capacity and improving efficiency. It is expanding last-mile delivery and investing in automation and AI technologies across warehousing and transportation. Its "Zhilang" smart warehousing system, now deployed in major Chinese cities, enables high-density storage and rapid order fulfillment.
While competition and rising costs remain challenges, JDL’s tech-driven model and expanding global reach position it well to benefit from a supply chain market projected to grow at an 11.2% compound annual rate through 2030 (Grand View Research). For JD, logistics strength is expected to be a powerful driver of long-term upside.
Global Supply Chain Rivals Facing JD.com
Alibaba (BABA - Free Report) competes with JD.com for supply chain dominance with Cainiao, its logistics subsidiary, which has become a key differentiator in China and beyond. Unlike JD's direct control, Alibaba's platform model coordinates thousands of third-party partners, enabling rapid scaling across China, Southeast Asia and Europe. Cainiao's bonded warehouse and cross-border services give Alibaba a leading role in international trade flows. By providing end-to-end logistics and fulfillment, Alibaba competes with global brands and exporters, positioning itself as JD's most powerful domestic and international logistics competitor.
Amazon (AMZN - Free Report) stands as JD.com's most formidable global rival, leveraging advanced robotics, AI and massive fulfillment centers to provide unparalleled speed and scale. Amazon's hybrid model, which combines direct retailing and a robust third-party marketplace, is powered by Fulfillment by Amazon and Amazon Global Logistics. This enables sellers worldwide to access its network. With its own fleet, automation and global delivery hubs, Amazon surpasses JD in efficiency, international reach and customer experience, setting the standard for supply chain excellence.
JD.com's Price Performance, Valuation & Estimates
Shares of JD.com have declined 2.9% year to date against the Zacks Internet - Commerce industry’s return of 14.9%.
JD’s YTD Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, JD.com is trading at a forward 12-month price-to-earnings ratio of 11.35X, lower than the industry’s 25.34X. JD carries a Value Score of A.
JD’s Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for JD’s full-year 2025 revenues is pegged at $183.33 billion, indicating 14.04% year-over-year growth. The consensus mark for 2025 earnings is pegged at $2.68 per share, remaining unchanged over the past 30 days. The earnings figure suggests a 37.09% decline over the figure reported in 2024.
Image: Bigstock
JD Strengthens Supply Chain Globally: Can Logistics Unlock More Upside?
Key Takeaways
JD.com's (JD - Free Report) logistics arm is scaling rapidly, underscoring the strength of its global expansion strategy. In the second quarter of 2025, JD Logistics (“JDL”) reported revenues of RMB 51.6 billion, representing 16.6% year-over-year growth, with both internal and external businesses sustaining double-digit momentum. This performance highlights JDL's ability to drive growth beyond its core retail operations.
A key milestone came with the launch of JoyExpress in Saudi Arabia, JDL’s first self-operated express delivery service overseas. The move signals a renewed push to build an international presence, supported by management’s commitment to doubling overseas warehouse capacity by the end of 2025. Such steps not only extend JD’s global footprint but also strengthen supply chain resilience and support long-term growth.
Globally, JDL operates over 130 warehouses across 23 countries, spanning North America, Europe, Asia and the Middle East, with a managed space of over 1.3 million square meters. By integrating warehouses, transit hubs, cross-border transport and local delivery, the company is building a brilliant supply chain network.
JDL is focused on increasing capacity and improving efficiency. It is expanding last-mile delivery and investing in automation and AI technologies across warehousing and transportation. Its "Zhilang" smart warehousing system, now deployed in major Chinese cities, enables high-density storage and rapid order fulfillment.
While competition and rising costs remain challenges, JDL’s tech-driven model and expanding global reach position it well to benefit from a supply chain market projected to grow at an 11.2% compound annual rate through 2030 (Grand View Research). For JD, logistics strength is expected to be a powerful driver of long-term upside.
Global Supply Chain Rivals Facing JD.com
Alibaba (BABA - Free Report) competes with JD.com for supply chain dominance with Cainiao, its logistics subsidiary, which has become a key differentiator in China and beyond. Unlike JD's direct control, Alibaba's platform model coordinates thousands of third-party partners, enabling rapid scaling across China, Southeast Asia and Europe. Cainiao's bonded warehouse and cross-border services give Alibaba a leading role in international trade flows. By providing end-to-end logistics and fulfillment, Alibaba competes with global brands and exporters, positioning itself as JD's most powerful domestic and international logistics competitor.
Amazon (AMZN - Free Report) stands as JD.com's most formidable global rival, leveraging advanced robotics, AI and massive fulfillment centers to provide unparalleled speed and scale. Amazon's hybrid model, which combines direct retailing and a robust third-party marketplace, is powered by Fulfillment by Amazon and Amazon Global Logistics. This enables sellers worldwide to access its network. With its own fleet, automation and global delivery hubs, Amazon surpasses JD in efficiency, international reach and customer experience, setting the standard for supply chain excellence.
JD.com's Price Performance, Valuation & Estimates
Shares of JD.com have declined 2.9% year to date against the Zacks Internet - Commerce industry’s return of 14.9%.
JD’s YTD Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, JD.com is trading at a forward 12-month price-to-earnings ratio of 11.35X, lower than the industry’s 25.34X. JD carries a Value Score of A.
JD’s Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for JD’s full-year 2025 revenues is pegged at $183.33 billion, indicating 14.04% year-over-year growth. The consensus mark for 2025 earnings is pegged at $2.68 per share, remaining unchanged over the past 30 days. The earnings figure suggests a 37.09% decline over the figure reported in 2024.
Image Source: Zacks Investment Research
JD.com currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.