Vipshop HoldingsMEX:VIPS N 69 Net Margin % is 8.30% as of Mar. 2026, which is 64% above its 10-year median of 5.06. 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 1,120 Retail - Cyclical companies, Vipshop Holdings ranks better than 76.79% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Vipshop Holdings's Net Income for the
three
months ended in Mar. 2026 was MXN5,773 Mil. Vipshop Holdings's Revenue for the
three
months ended in Mar. 2026 was MXN69,530 Mil. Therefore, Vipshop Holdings's net margin for the quarter that ended in Mar. 2026 was 8.30%.
The historical rank and industry rank for Vipshop Holdings's Net Margin % or its related term are showing as below:
MEX:VIPS N'
s Net Margin % Range Over the Past 10 Years
Min: 2.52 Med: 5.06 Max: 7.19
Current: 7.08
MEX:VIPS N's Net Margin % is ranked better than 76.79% of 1120
companies
in the Retail - Cyclical industry
Industry Median: 2.32
vs MEX:VIPS N: 7.08
Vipshop Holdings (MEX:VIPS N) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Vipshop Holdings Net Margin % Related Terms
Vipshop Holdings Net Margin % Historical Data
* Premium members only.
The historical data trend for Vipshop Holdings's Net 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: Net Margin % Comparison
For the Internet Retail subindustry, Vipshop Holdings's Net Margin %, along with its competitors' market caps and Net 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 Net Margin % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Vipshop Holdings's Net Margin % distribution charts can be found below:
* The bar in red indicates where Vipshop Holdings's Net 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.
Vipshop Holdings (MEX:VIPS N) has a Net Margin % of 8.30% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Vipshop Holdings and its competitors. This is 64% above median its historical median of 5.06. Over the past decade, Vipshop Holdings' Net Margin % has ranged from 2.52 to 7.19. According to the industry distribution chart, Vipshop Holdings ranks #260 out of 1120 companies in the Retail - Cyclical industry, placing it in the top 23.2%.
Is Vipshop Holdings' Net Margin % too high?
Vipshop Holdings' current Net Margin % of 8.30% is 64% above median its 10-year median of 5.06. Over the past 10 years, this metric has ranged from a low of 2.52 to a high of 7.19. The Retail - Cyclical industry median Net Margin % is 2.32. Vipshop Holdings' value of 8.30% is 257.8% above this industry median. Based on the distribution chart, Vipshop Holdings ranks #260 out of 1120 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. 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' Net Margin % compare to GLBE and ETSY?
According to the Retail - Cyclical industry distribution chart, Vipshop Holdings ranks #260 out of 1120 companies for Net Margin %. This places Vipshop Holdings in the top 23% of its industry — outperforming the majority of peers. The industry median Net Margin % is 2.32. Vipshop Holdings' value of 8.30% is 257.8% above this benchmark. Historically, Vipshop Holdings' own Net Margin % has ranged from 2.52 to 7.19 over the past decade. While the company's 10-year median is 5.06 vs. the industry median of 2.32, Vipshop Holdings has consistently been above 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 Net Margin % for a Retail - Cyclical company?
The median Net Margin % among Retail - Cyclical companies is 2.32, based on 1,120 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Vipshop Holdings's current Net Margin % of 8.30% is 257.8% above 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Vipshop Holdings and its competitors. For the Retail - Cyclical industry, the median Net Margin % is 2.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vipshop Holdings's current Net Margin % is 8.30%, which is 64% above median its own 10-year median of 5.06. 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 Net Margin % is 8.30%, which is 64% above median its 10-year median of 5.06 and 257.8% above the Retail - Cyclical industry median of 2.32. 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 Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Vipshop Holdings (MEX:VIPS N), the current Net Margin % is 8.30% 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:
Net Margin %: 8.30% (64% above median its 10-year median of 5.06)
GF Value™: MXN302.85 vs. price of MXN235.00 (22.4% below fair value)
Industry Position: 257.8% above the Retail - Cyclical median (#260 of 1120)
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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