NYSE : BABA
Alibaba Group Holding Limited — Financial statements
Consumer Discretionary · Internet Retail · Hong Kong
Last price 98.04 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 243.69B
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Financial statements
Alibaba Group Holding Limited (BABA) reported revenue of 1.04T CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in CNY.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 1.04T | 1.02T | 996.35B | 941.17B | 868.69B | 853.06B |
| Cost of Revenue | 645.80B | 616.14B | 598.28B | 586.32B | 548.56B | 538.71B |
| Gross Profit | 399.17B | 407.53B | 398.06B | 354.85B | 320.12B | 314.36B |
| Selling, General & Admin | 277.86B | 278.11B | 188.26B | 157.13B | 145.68B | 151.72B |
| Research & Development | 74.06B | 66.53B | 57.15B | 52.26B | 56.74B | 55.47B |
| Amortization of Goodwill & Intangibles | 1.62B | 1.76B | 1.73B | 6.75B | 11.58B | 10.67B |
| Other Operating Expenses | -1.99B | -1.85B | -761.00M | |||
| Operating Expenses | 351.55B | 344.55B | 246.38B | 216.13B | 214.00B | 217.86B |
| Operating Income | 47.61B | 62.98B | 151.69B | 138.72B | 106.12B | 96.50B |
| Interest Expense | -9.67B | -9.79B | -9.60B | -7.95B | -5.92B | -4.91B |
| Interest & Investment Income | 79.14B | 87.51B | 20.76B | |||
| Earnings From Equity Investments | 2.71B | 2.79B | 5.97B | -7.74B | -8.06B | 14.34B |
| Other Non Operating Income (Expenses) | 1.67B | 1.52B | 3.39B | 6.16B | 5.82B | 10.52B |
| EBT Excluding Unusual Items | 121.46B | 145.00B | 172.20B | 129.19B | 97.96B | 116.45B |
| Impairment of Goodwill | -13.97B | -9.52B | -6.17B | -10.52B | -2.71B | -25.14B |
| Gain (Loss) on Sale of Investments | -9.96B | -11.07B | -15.70B | |||
| Asset Writedown | -3.32B | -3.32B | -4.61B | -14.85B | -3.06B | -1.72B |
| Pretax Income | 104.17B | 132.17B | 161.42B | 93.86B | 81.12B | 73.89B |
| Income Tax Expense | 33.98B | 30.05B | 35.45B | 22.53B | 15.55B | 26.82B |
| Earnings From Continuing Operations | 70.19B | 102.13B | 125.98B | 71.33B | 65.57B | 47.08B |
| Minority Interest in Earnings | 3.37B | 1.47B | 4.13B | 8.68B | 7.21B | 15.17B |
| Net Income | 73.56B | 103.59B | 130.11B | 80.01B | 72.78B | 62.25B |
| Preferred Dividends & Other Adjustments | 232.00M | -2.31B | 639.00M | 268.00M | 274.00M | 290.00M |
| Net Income to Common | 73.33B | 105.90B | 129.47B | 79.74B | 72.51B | 61.96B |
| Shares Outstanding (Basic) | 2.32B | 2.32B | 2.35B | 2.52B | 2.62B | 2.69B |
| Shares Outstanding (Diluted) | 2.41B | 2.40B | 2.41B | 2.54B | 2.64B | 2.72B |
| EPS (Basic) | 31.55 | 45.63 | 55.12 | 31.61 | 27.65 | 22.99 |
| EPS (Diluted) | 29.76 | 44.00 | 53.59 | 31.24 | 27.46 | 22.74 |
| Free Cash Flow | -76.58B | -49.85B | 77.54B | 150.51B | 165.42B | 89.45B |
| Free Cash Flow Per Share | -31.77 | -20.73 | 32.11 | 59.14 | 62.68 | 32.84 |
| Dividend Per Share | 7.24 | 7.24 | 7.62 | 7.22 | 6.87 | |
| Gross Margin | 38.20% | 39.81% | 39.95% | 37.70% | 36.85% | 36.85% |
| Operating Margin | 4.56% | 6.15% | 15.22% | 14.74% | 12.22% | 11.31% |
| Profit Margin | 7.02% | 10.35% | 12.99% | 8.47% | 8.35% | 7.26% |
| Free Cash Flow Margin | -7.33% | -4.87% | 7.78% | 15.99% | 19.04% | 10.49% |
| EBITDA | 99.51B | 110.10B | 194.15B | 183.22B | 153.06B | 144.56B |
| EBITDA Margin | 9.52% | 10.76% | 19.49% | 19.47% | 17.62% | 16.95% |
| D&A For EBITDA | 51.90B | 47.12B | 42.46B | 44.50B | 46.94B | 48.06B |
| EBIT | 47.61B | 62.98B | 151.69B | 138.72B | 106.12B | 96.50B |
| EBIT Margin | 4.56% | 6.15% | 15.22% | 14.74% | 12.22% | 11.31% |
| Effective Tax Rate | 32.62% | 22.73% | 21.96% | 24.00% | 19.17% | 36.29% |
| Advertising Expenses | 214.25B | 113.57B | 88.22B | 76.82B | 91.10B |
Balance sheet
Fiscal year April - March; amounts in CNY.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 142.91B | 131.53B | 145.49B | 248.12B | 193.09B | 189.90B |
| Short-Term Investments | 242.78B | 185.29B | 281.95B | 322.90B | 331.38B | 265.19B |
| Cash & Short-Term Investments | 385.70B | 316.82B | 427.44B | 571.03B | 524.47B | 455.08B |
| Accounts Receivable | 57.61B | 43.23B | 38.94B | 41.18B | 45.00B | |
| Other Receivables | 36.50B | 32.87B | 29.96B | 22.97B | 26.23B | |
| Receivables | 94.11B | 76.10B | 68.90B | 64.14B | 71.23B | |
| Inventory | 18.91B | 18.89B | 25.46B | 28.55B | 30.09B | |
| Prepaid Expenses | 296.57B | 22.56B | 20.56B | 17.78B | 16.79B | 17.90B |
| Other Current Assets | 42.59B | 158.38B | 131.07B | 69.69B | 64.01B | 64.23B |
| Total Current Assets | 724.85B | 610.77B | 674.05B | 752.86B | 697.97B | 638.53B |
| Property, Plant & Equipment | 312.50B | 328.22B | 242.55B | 262.09B | 253.46B | 249.86B |
| Long-Term Investments | 546.23B | 656.75B | 566.99B | 424.07B | 453.12B | 443.25B |
| Goodwill | 242.46B | 247.38B | 255.50B | 259.68B | 268.09B | 269.58B |
| Other Intangible Assets | 16.70B | 16.98B | 20.91B | 26.95B | 46.91B | 59.23B |
| Long-Term Deferred Tax Assets | 13.96B | 13.16B | 11.36B | 15.49B | 14.47B | |
| Other Long-Term Assets | 119.38B | 35.52B | 31.07B | 27.81B | 18.00B | 20.62B |
| Total Assets | 1.96T | 1.91T | 1.80T | 1.76T | 1.75T | 1.70T |
| Accounts Payable | 138.69B | 119.02B | 127.56B | 113.75B | 107.20B | |
| Accrued Expenses | 412.77B | 39.39B | 39.35B | 37.56B | 36.00B | 37.10B |
| Short-Term Debt | 30.61B | 28.22B | 22.56B | 12.75B | 7.47B | 8.84B |
| Current Portion of Long-Term Debt | 16.25B | 4.80B | ||||
| Current Portion of Leases | 4.32B | 3.94B | 5.87B | 5.67B | 4.99B | |
| Current Income Taxes Payable | 9.20B | 10.63B | 11.64B | 9.07B | 12.54B | 21.75B |
| Current Unearned Revenue | 79.44B | 41.19B | 39.60B | 33.07B | 31.79B | 28.59B |
| Other Current Liabilities | 233.00M | 213.95B | 199.24B | 179.37B | 173.34B | 175.29B |
| Total Current Liabilities | 532.26B | 476.40B | 435.35B | 421.51B | 385.35B | 383.78B |
| Long-Term Debt | 235.92B | 231.77B | 208.14B | 141.78B | 149.09B | 132.50B |
| Long-Term Leases | 17.41B | 13.46B | 28.97B | 28.55B | 30.26B | |
| Long-Term Unearned Revenue | 4.68B | 4.88B | 4.54B | 4.07B | 3.56B | 3.49B |
| Long-Term Deferred Tax Liabilities | 48.73B | 46.06B | 48.45B | 53.01B | 61.74B | 61.71B |
| Other Long-Term Liabilities | 26.64B | 6.78B | 4.18B | 2.90B | 1.83B | 1.62B |
| Total Liabilities | 848.22B | 783.30B | 714.12B | 652.23B | 630.12B | 613.36B |
| Common Stock | 1.00M | 1.00M | 1.00M | 1.00M | 1.00M | 1.00M |
| Additional Paid-In Capital | 387.61B | 385.09B | 381.38B | 398.00B | 416.88B | 410.51B |
| Retained Earnings | 718.73B | 725.01B | 661.41B | 612.63B | 612.00B | 573.40B |
| Treasury Stock | -37.24B | -36.14B | -36.33B | -27.68B | -28.76B | -2.22B |
| Comprehensive Income & Other | -20.07B | -13.07B | 3.39B | 3.60B | -10.47B | -33.20B |
| Total Common Equity | 1.05T | 1.06T | 1.01T | 986.54B | 989.66B | 948.48B |
| Minority Interest | 64.86B | 65.38B | 80.25B | 126.06B | 133.26B | 133.71B |
| Shareholders' Equity | 1.11T | 1.13T | 1.09T | 1.11T | 1.12T | 1.08T |
| Total Liabilities & Equity | 1.96T | 1.91T | 1.80T | 1.76T | 1.75T | 1.70T |
| Total Debt | 266.53B | 281.72B | 248.11B | 205.61B | 195.57B | 176.60B |
| Net Cash (Debt) | 119.17B | 35.10B | 179.33B | 365.42B | 328.90B | 278.49B |
| Net Cash Per Share | 49.45 | 14.60 | 74.26 | 143.59 | 124.62 | 102.26 |
| Filing Date Shares Outstanding | 2.33B | 2.33B | 2.32B | 2.42B | 2.55B | 2.65B |
| Total Common Shares Outstanding | 2.33B | 2.32B | 2.31B | 2.43B | 2.57B | 2.67B |
| Working Capital | 192.60B | 134.37B | 238.70B | 331.36B | 312.62B | 254.75B |
| Book Value Per Share | 449.48 | 456.78 | 437.30 | 405.38 | 385.72 | 355.28 |
| Tangible Book Value | 789.88B | 796.52B | 733.45B | 699.91B | 674.65B | 619.67B |
| Tangible Book Value Per Share | 338.44 | 342.95 | 317.61 | 287.60 | 262.95 | 232.11 |
| Buildings | 121.40B | 104.60B | 135.13B | 123.28B | 106.79B | |
| Machinery | 256.49B | 172.32B | 137.82B | 122.19B | 115.09B | |
| Construction In Progress | 55.64B | 54.85B | 42.68B | 45.13B | 43.67B |
Cash flow statement
Fiscal year April - March; amounts in CNY.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 73.56B | 103.59B | 130.11B | 80.01B | 72.78B | 62.25B |
| Depreciation & Amortization | 51.90B | 47.12B | 42.46B | 44.50B | 46.94B | 48.06B |
| Loss (Gain) From Sale of Assets | -10.23B | -10.23B | 20.73B | -1.66B | -177.00M | -1.03B |
| Asset Writedown & Restructuring Costs | 10.25B | 10.25B | 7.39B | 21.90B | 5.14B | 27.36B |
| Loss (Gain) From Sale of Investments | -57.74B | -57.74B | -20.45B | 35.73B | 28.31B | 29.43B |
| Loss (Gain) on Equity Investments | -2.79B | -2.79B | -5.97B | 7.74B | 8.06B | -14.34B |
| Stock-Based Compensation | 11.18B | 11.18B | 13.97B | 18.55B | 30.83B | 23.97B |
| Provision & Write-off of Bad Debts | 1.37B | 1.37B | 3.02B | 3.51B | 2.80B | 1.74B |
| Other Operating Activities | 23.53B | -3.99B | -3.76B | -13.94B | -8.42B | -16.54B |
| Change in Unearned Revenue | 9.46B | 9.46B | 11.22B | 2.07B | 4.38B | 4.82B |
| Change in Income Taxes | -1.97B | -1.97B | 1.97B | -4.76B | -9.21B | -3.53B |
| Change in Other Net Operating Assets | -30.04B | -30.04B | -37.18B | -11.05B | 18.31B | -19.44B |
| Operating Cash Flow | 78.49B | 76.21B | 163.51B | 182.59B | 199.75B | 142.76B |
| Capital Expenditures | -155.06B | -126.06B | -85.97B | -32.09B | -34.33B | -53.31B |
| Sale of Property, Plant & Equipment | 541.00M | 541.00M | 2.43B | 373.00M | 644.00M | |
| Cash Acquisitions | -1.21B | -1.21B | 353.00M | -2.20B | -1.20B | -4.09B |
| Divestitures | 11.42B | 11.42B | -5.08B | 699.00M | -5.00M | -11.00M |
| Sale (Purchase) of Intangibles | -874.00M | -874.00M | -842.00M | -22.00M | -15.00M | |
| Investment in Securities | 98.84B | 48.38B | -97.08B | 11.50B | -101.51B | -140.27B |
| Other Investing Activities | -58.27B | 467.00M | -71.00M | 737.00M | 922.00M | -904.00M |
| Investing Cash Flow | -104.63B | -67.34B | -185.41B | -21.82B | -135.51B | -198.59B |
| Long-Term Debt Issued | 117.49B | 124.43B | 20.57B | 22.79B | 9.43B | |
| Total Debt Issued | 128.50B | 117.49B | 124.43B | 20.57B | 22.79B | 9.43B |
| Long-Term Debt Repaid | -78.46B | -59.90B | -18.11B | -11.45B | -16.71B | |
| Total Debt Repaid | -78.46B | -78.46B | -59.90B | -18.11B | -11.45B | -16.71B |
| Net Debt Issued (Repaid) | 50.04B | 39.03B | 64.53B | 2.46B | 11.34B | -7.29B |
| Issuance of Common Stock | 1.04B | 1.04B | 10.00M | 843.00M | 11.00M | 109.00M |
| Repurchase of Common Stock | -7.64B | -7.64B | -86.66B | -88.75B | -74.75B | -61.23B |
| Common Dividends Paid | -33.73B | -33.73B | -29.08B | -17.95B | ||
| Other Financing Activities | -18.08B | -19.28B | -25.02B | -4.86B | -2.23B | 3.95B |
| Financing Cash Flow | -8.37B | -20.57B | -76.22B | -108.24B | -65.62B | -64.45B |
| Foreign Exchange Rate Adjustments | -4.57B | -4.00B | 965.00M | 4.39B | 3.53B | -8.83B |
| Net Cash Flow | -39.08B | -15.70B | -97.16B | 56.91B | 2.16B | -129.12B |
| Free Cash Flow | -76.58B | -49.85B | 77.54B | 150.51B | 165.42B | 89.45B |
| Free Cash Flow Margin | -7.33% | -4.87% | 7.78% | 15.99% | 19.04% | 10.49% |
| Free Cash Flow Per Share | -31.77 | -20.73 | 32.11 | 59.14 | 62.68 | 32.84 |
| Levered Free Cash Flow | -82.64B | -44.07B | 18.30B | 122.73B | 113.47B | 62.52B |
| Unlevered Free Cash Flow | -76.60B | -37.95B | 24.30B | 127.70B | 117.17B | 65.58B |
| Cash Interest Paid | 9.38B | 9.38B | 8.87B | 7.83B | 5.64B | 4.89B |
| Cash Income Tax Paid | 34.01B | 34.01B | 33.41B | 32.49B | 26.48B | 31.73B |
| Change in Working Capital | -22.55B | -22.55B | -23.99B | -13.75B | 13.48B | -18.15B |
Ratios
Fiscal year April - March; amounts in CNY.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 243.69B | 291.55B | 305.36B | 181.39B | 262.17B | 292.40B |
| Enterprise Value | 226.15B | 293.65B | 292.30B | 141.34B | 234.01B | 264.54B |
| Last Close Price | 98.04 | 124.34 | 128.89 | 69.05 | 96.24 | 102.48 |
| PE Ratio | 22.39 | 18.99 | 17.11 | 16.43 | 24.84 | 29.92 |
| Forward PE | 12.29 | 17.44 | 13.43 | 8.60 | 11.65 | 12.79 |
| PS Ratio | 1.58 | 1.96 | 2.22 | 1.39 | 2.07 | 2.17 |
| PB Ratio | 1.48 | 1.78 | 2.03 | 1.18 | 1.60 | 1.71 |
| P/TBV Ratio | 2.10 | 2.52 | 3.02 | 1.87 | 2.67 | 2.99 |
| P/FCF Ratio | 28.58 | 8.70 | 10.89 | 20.72 | ||
| P/OCF Ratio | 20.65 | 26.39 | 13.55 | 7.17 | 9.02 | 12.98 |
| PEG Ratio | 0.45 | 2.10 | 0.70 | 0.69 | 1.41 | 2.51 |
| EV/Sales Ratio | 1.47 | 1.98 | 2.13 | 1.08 | 1.85 | 1.97 |
| EV/EBITDA Ratio | 15.44 | 18.40 | 10.93 | 5.57 | 10.50 | 11.60 |
| EV/EBIT Ratio | 32.26 | 32.16 | 13.98 | 7.36 | 15.15 | 17.38 |
| EV/FCF Ratio | 27.36 | 6.78 | 9.72 | 18.75 | ||
| Debt / Equity Ratio | 0.24 | 0.25 | 0.23 | 0.18 | 0.17 | 0.16 |
| Debt / EBITDA Ratio | 2.68 | 2.39 | 1.21 | 1.06 | 1.19 | 1.13 |
| Debt / FCF Ratio | 3.20 | 1.37 | 1.18 | 1.97 | ||
| Net Debt / Equity Ratio | -0.11 | -0.03 | -0.17 | -0.33 | -0.29 | -0.26 |
| Net Debt / EBITDA Ratio | -1.20 | -0.32 | -0.92 | -1.99 | -2.15 | -1.93 |
| Net Debt / FCF Ratio | 1.56 | 0.70 | -2.31 | -2.43 | -1.99 | -3.11 |
| Asset Turnover | 0.55 | 0.55 | 0.56 | 0.54 | 0.50 | 0.50 |
| Inventory Turnover | 32.60 | 26.98 | 21.71 | 18.71 | 18.59 | |
| Quick Ratio | 0.72 | 0.86 | 1.16 | 1.52 | 1.53 | 1.37 |
| Current Ratio | 1.36 | 1.28 | 1.55 | 1.79 | 1.81 | 1.66 |
| Return on Equity (ROE) | 6.36% | 9.22% | 11.44% | 6.38% | 5.95% | 4.35% |
| Return on Assets (ROA) | 1.56% | 2.12% | 5.31% | 4.93% | 3.85% | 3.56% |
| Return on Invested Capital (ROIC) | 3.08% | 4.86% | 14.28% | 13.68% | 10.74% | 7.76% |
| Return on Capital Employed (ROCE) | 3.30% | 4.40% | 11.10% | 10.30% | 7.80% | 7.40% |
| Earnings Yield | 4.47% | 5.15% | 5.87% | 6.11% | 4.04% | 3.36% |
| FCF Yield | -4.72% | -2.48% | 3.50% | 11.49% | 9.19% | 4.83% |
| Dividend Yield | 1.07% | 0.84% | 0.79% | 1.34% | 0.98% | |
| Payout Ratio | 23.98% | 32.56% | 22.35% | 22.43% | ||
| Buyback Yield / Dilution | -0.39% | 0.43% | 5.11% | 3.58% | 3.09% | 0.89% |
| Total Shareholder Return | 0.68% | 1.27% | 5.91% | 4.92% | 4.07% | 0.89% |