BABANYSEServices-Business Services, NECAlso trades as BABAF, BBAAY
Alibaba Group Holding Ltd
Financials through fiscal 2026, year ended Mar 31, 2026Last filing: 20-F on May 20, 2026
$108.57−0.54 (-0.49%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
39.8%−1.5 pts over 5 years
Operating margin
4.9%−7.6 pts over 5 years
Net margin
10.1%−10.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +2.7% | +5.6% | +7.4% | +26.0% | |
| Gross profit | +2.4% | +8.5% | +6.6% | +19.8% | |
| Operating income | -64.4% | -20.6% | -11.0% | +5.6% | |
| Net income | -20.4% | +12.5% | -7.2% | +3.8% | |
| EPS, diluted | -17.9% | +17.0% | -4.3% | +4.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 17.6% | 17.8% | 10.0% | |
| Return on assets | 10.0% | 10.0% | 5.6% | |
| Current ratio | 1.94 | 1.70 | 1.28 | |
| Interest coverage | 18.0× | 20.0× | 5.1× | |
| Diluted shares | 20.58B | 21.98B | 19.23B |
Cash use needs five years of cash flow figures
Alibaba Group does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin10.1%
×Asset turnover0.55×
×Equity multiplier1.79×
=Return on equity, FY202610.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 10.1% | 0.55× | 1.79× | 10.0% |
| FY2025 | 13.1% | 0.56× | 1.79× | 13.0% |
| FY2024 | 8.5% | 0.54× | 1.78× | 8.1% |
| FY2023 | 8.4% | 0.50× | 1.78× | 7.5% |
| FY2022 | 7.3% | 0.50× | 1.80× | 6.6% |
| FY2021 | 21.0% | 0.48× | 1.77× | 17.8% |
| FY2020 | 29.3% | 0.45× | 1.83× | 24.0% |
| FY2019 | 23.3% | 0.45× | 1.96× | 20.5% |
| FY2018 | 25.6% | 0.41× | 1.90× | 19.9% |
| FY2017 | 27.6% | 0.36× | 1.76× | 17.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
4of 8 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zeroCN¥103.59B
- Cash generatingOperating cash flow above zeroCN¥76.21B
- Return on assets improvedROA up on the prior year7.4% → 5.7%
- Earnings backed by cashOperating cash flow above net incomeCN¥76.21B vs CN¥103.59B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.55 → 1.28
- No dilutionShare count did not rise19.32B → 19.23B
- Gross margin improvedGross margin up on the prior year39.95% → 39.81%
- More efficientAsset turnover rose0.56 → 0.57