Vipshop HoldingsMEX:VIPS N 69 Gross Margin % is 24.44% as of Mar. 2026, which is 10% above its 10-year median of 22.30. GuruFocus rates MEX:VIPS N with a GF Score™ of 69/100 and a GF Value™ of MXN302.85 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,109 Retail - Cyclical companies, Vipshop Holdings ranks worse than 72.95% on this metric.
The historical rank and industry rank for Vipshop Holdings's Gross Margin % or its related term are showing as below:
MEX:VIPS N'
s Gross Margin % Range Over the Past 10 Years
Min: 19.74 Med: 22.3 Max: 24.03
Current: 23.45
During the past 13 years, the highestGross Margin % of Vipshop Holdings was 24.03%. The lowest was 19.74%. And the median was 22.30%.
MEX:VIPS N's Gross Margin % is ranked worse than 72.95% of 1109
companies
in the Retail - Cyclical industry
Industry Median: 36.26
vs MEX:VIPS N: 23.45
Vipshop Holdings had a gross margin of 24.44% for the quarter that ended in Mar. 2026 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for Vipshop Holdings was 3.20% per year.
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Vipshop Holdings had a gross margin of 24.44% for the quarter that ended in Mar. 2026 => Competition eroding margins
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Vipshop Holdings Gross Margin % Related Terms
Vipshop Holdings Gross Margin % Historical Data
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The historical data trend for Vipshop Holdings's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MEX:VIPS N vs GLBE, ETSY, CHWY: Gross Margin % Comparison
For the Internet Retail subindustry, Vipshop Holdings's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Vipshop Holdings Gross Margin % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Vipshop Holdings's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Vipshop Holdings's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Vipshop Holdings (MEX:VIPS N) has a Gross Margin % of 24.44% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Vipshop Holdings and its competitors. This is 10% above median its historical median of 22.30. Over the past decade, Vipshop Holdings' Gross Margin % has ranged from 19.74 to 24.03. According to the industry distribution chart, Vipshop Holdings ranks #809 out of 1109 companies in the Retail - Cyclical industry, placing it in the top 72.9%.
Is Vipshop Holdings' Gross Margin % too high?
Vipshop Holdings' current Gross Margin % of 24.44% is 10% above median its 10-year median of 22.30. Over the past 10 years, this metric has ranged from a low of 19.74 to a high of 24.03. The Retail - Cyclical industry median Gross Margin % is 36.26. Vipshop Holdings' value of 24.44% is 32.6% below this industry median. Based on the distribution chart, Vipshop Holdings ranks #809 out of 1109 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, Vipshop Holdings has a GF Score™ of 69/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vipshop Holdings' Gross Margin % compare to GLBE and ETSY?
According to the Retail - Cyclical industry distribution chart, Vipshop Holdings ranks #809 out of 1109 companies for Gross Margin %. This places Vipshop Holdings in the lower half of its industry. The industry median Gross Margin % is 36.26. Vipshop Holdings' value of 24.44% is 32.6% below this benchmark. Historically, Vipshop Holdings' own Gross Margin % has ranged from 19.74 to 24.03 over the past decade. While the company's 10-year median is 22.30 vs. the industry median of 36.26, Vipshop Holdings has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a Retail - Cyclical company?
The median Gross Margin % among Retail - Cyclical companies is 36.26, based on 1,109 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Vipshop Holdings's current Gross Margin % of 24.44% is 32.6% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Vipshop Holdings and its competitors. For the Retail - Cyclical industry, the median Gross Margin % is 36.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vipshop Holdings's current Gross Margin % is 24.44%, which is 10% above median its own 10-year median of 22.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vipshop Holdings stock overvalued right now?
Based on GuruFocus' analysis, Vipshop Holdings (MEX:VIPS N) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN302.85, compared to a current price of MXN235.00 — trading 22.4% below its estimated fair value. The current Gross Margin % is 24.44%, which is 10% above median its 10-year median of 22.30 and 32.6% below the Retail - Cyclical industry median of 36.26. Vipshop Holdings' overall GF Score™ is 69/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Vipshop Holdings (MEX:VIPS N), the current Gross Margin % is 24.44% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Vipshop Holdings (MEX:VIPS N) Overvalued in 2026?
Based on GuruFocus' analysis, Vipshop Holdings stock appears to be undervalued.
The current stock price of MXN235.00 is trading 22.4% below its estimated GF Value™ of MXN302.85.
GuruFocus considers Vipshop Holdings to be Modestly Undervalued.
Key valuation signals for MEX:VIPS N:
Gross Margin %: 24.44% (10% above median its 10-year median of 22.30)
GF Value™: MXN302.85 vs. price of MXN235.00 (22.4% below fair value)
Industry Position: 32.6% below the Retail - Cyclical median (#809 of 1109)
No single metric tells the full story. See the MEX:VIPS N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vipshop is a leading Chinese online discount retailer offering branded products at attractive discounts of 10%-90% off their original price through daily flash sales. It operates warehousing, retailing, product procurement, software development, and information technology support in-house while outsourcing to third-party logistics providers for distribution and shipments. Branded products on Vipshop's platform are sourced mostly through a consignment model with global brand partners. As of March 31, 2025, Eric Ya Shen, chair and CEO, had 64.5% voting rights. Leading Chinese social media firm and strategic shareholder Tencent also holds a 12.5% interest.
69GF Score
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