PerpEquities

Alibaba Group Holding Limited (HKEX shares) (BABAHK) financials

HKSE · Consumer Cyclical · Specialty Retail · 131,462 employees · CEO Yongming Wu

Price
HK$99.45 +2.47%
Market cap
HK$1.98T
Enterprise value
CN¥1.76T
Last report
Q1 '27 filed 2026-06-30
Next report
2026-12-01
Revenue (TTM)CN¥1.04T+4.3% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)4.2%-9.8 pp vs a year agoOperating income CN¥43.9B
Net income (TTM)CN¥73.5B-49.8% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)-CN¥78.7B-307.6% vs a year agoCapex CN¥159B
Diluted EPS (TTM)CN¥3.71-51.9% vs a year agoSum of the last 4 quarters
Net cashCN¥162B-12.3% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap
HK$1.98T
EV CN¥1.76T
Revenue
CN¥1.04T
Trailing 12 months
Revenue growth
+9%
FY2027 consensus
Profit margin
7.0%
Net income / revenue, TTM
P/E
21.8×
P/S
1.6×
Price / sales, TTM
EV / EBITDA
11.5×
TTM
Free cash flow
-CN¥78.7B
Trailing 12 months
Net income
CN¥73.5B
Trailing 12 months
Revenue estimate
CN¥1.12T
FY2027 consensus
Earnings
2026-12-01
Dividend
HK$1.03
Per share, last 12 months

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

  • Revenue growth accelerating: 8.1% year on yearQ1 '27 revenue CN¥268B, against an average of 2.8% over the four quarters before.
  • Operating margin 4.2% (TTM), -9.8 pp on a year agoOperating income grew -68.6% while revenue grew 4.3%.
  • 57.8% of pre-tax profit is non-operatingPre-tax income CN¥104B vs operating income CN¥43.9B (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
  • Capex 15.2% of revenue (a year ago 11.1%)CN¥159B invested in the last 4 quarters (+42.9% on a year earlier). Free cash flow -CN¥78.7B = -107.0% of net income.
  • Diluted share count up 0.9% in a year19.3B diluted shares in Q1 '27, 19.2B a year earlier.
  • Net cash CN¥162BCash + short-term investments CN¥428B, debt incl. leases CN¥266B; a year ago net cash CN¥184B.

Last quarter: Q1 '27

Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

Q1 '27Year agoChange
RevenueCN¥268BCN¥248B+8.1%
Gross margin38.0%44.9%-6.9 pp
Operating incomeCN¥19.2BCN¥35B-45.0%
Operating margin7.2%14.1%-6.9 pp
Net incomeCN¥10.6BCN¥40.6B-74.0%
Diluted EPSCN¥0.46CN¥2.25-79.6%
Operating cash flowCN¥22.9BCN¥20.3B+12.8%
CapexCN¥67.7BCN¥38.1B+77.8%
Free cash flow-CN¥44.7B-CN¥17.7B-152.4%
R&DCN¥22.4BCN¥15B+49.5%
Stock-based compensationCN¥3.3BCN¥0–

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement
Operating cash flow
CN¥80.1B
Capex
-CN¥159B
Buybacks
CN¥0
Dividends
CN¥0
Acquisitions
CN¥0
Net debt issued
CN¥11B
Stock-based compensation
CN¥3.3B
Free cash flow
-CN¥78.7B
Returned to shareholders / FCF
0.0%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years
Now5y averageWhere today sits in the 5-year range
P/E (TTM)21.8×21.8×16.6× – 31.6×
EV / EBITDA11.5×11.5×7.8× – 15.1×
EV / Sales1.7×2.0×1.4× – 2.4×
Price / FCF-21.3×17.7× 4 of 5 years8.8× – 28.7×
Price / Book1.5×1.9×1.3× – 2.2×
FCF yield-4.7%5.2%-2.6% – 11.4%
Return on invested capital2.0%5.3%3.2% – 7.9%
Return on equity7.0%8.9%6.6% – 12.9%

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal yearRevenueGrowthEPSGrowthP/E at today's priceAnalysts (EPS)
FY2027CN¥1.12T+9.3%CN¥5.48-0.4%–19
FY2028CN¥1.26T+12.5%CN¥7.63+39.3%–19
FY2029CN¥1.44T+14.1%CN¥9.79+28.3%–8
FY2030CN¥1.62T+13.1%CN¥9.10-7.0%–8
FY2031CN¥1.78T+9.9%CN¥0.00-100.0%–14

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpenBalance sheetCash, investments, assets, debt, liabilities and equityOpenCash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-02 · Amounts in CNY as reported; price and market cap in HKD.