Alibaba

BABA · NYSE

Services-Business Services, NEC · Reports in CNY

Alibaba reported revenue of CNY 1,024B in the fiscal year ended Mar 2026, up 2.7% from the year before. Operating income was CNY 50.2B, an operating margin of 4.9%, and net income was CNY 104B. It held more cash than debt (net cash CNY 14B).

Last 5 fiscal years

Revenue and net income

RevenueNet income

Income statement

Fiscal year	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	CNY 853B	CNY 869B	CNY 941B	CNY 996B	CNY 1,024B
Cost of revenue	CNY 539B	CNY 550B	CNY 586B	CNY 598B	CNY 616B
Gross profit	CNY 314B	CNY 319B	CNY 355B	CNY 398B	CNY 408B
Research & development	CNY 55.5B	CNY 56.7B	CNY 52.3B	CNY 57.2B	CNY 66.5B
Operating income	CNY 69.6B	CNY 100B	CNY 113B	CNY 141B	CNY 50.2B
Interest expense	CNY 4.9B	CNY 5.9B	CNY 7.9B	CNY 9.6B	CNY 9.8B
Pre-tax income	CNY 59.6B	CNY 89.2B	CNY 102B	CNY 155B	CNY 129B
Income tax	CNY 26.8B	CNY 15.5B	CNY 22.5B	CNY 35.4B	CNY 30B
Net income	CNY 62.2B	CNY 72.8B	CNY 80B	CNY 130B	CNY 104B
Diluted EPS	2.84	3.43	3.91	6.70	5.50
Diluted shares	21,787M	21,114M	20,359M	19,318M	19,235M

Balance sheet

Fiscal year	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash & equivalents	CNY 190B	CNY 193B	CNY 248B	CNY 145B	CNY 132B
Receivables	CNY 32.8B	CNY 32.1B	CNY 30.7B	CNY 31.2B	CNY 36B
Current assets	CNY 639B	CNY 698B	CNY 753B	CNY 674B	CNY 611B
Net PP&E	CNY 172B	CNY 176B	CNY 185B	CNY 203B	CNY 283B
Goodwill	CNY 270B	CNY 268B	CNY 260B	CNY 256B	CNY 247B
Total assets	CNY 1,696B	CNY 1,753B	CNY 1,765B	CNY 1,804B	CNY 1,910B
Deferred revenue	CNY 32.1B	CNY 35.4B	CNY 37.1B	CNY 44.1B	CNY 46.1B
Current liabilities	CNY 384B	CNY 385B	CNY 422B	CNY 435B	CNY 476B
Long-term debt	CNY 94.3B	CNY 97.1B	CNY 86.1B	CNY 122B	CNY 117B
Total liabilities	CNY 613B	CNY 630B	CNY 652B	CNY 714B	CNY 783B
Shareholders' equity	CNY 948B	CNY 990B	CNY 987B	CNY 1,010B	CNY 1,061B

Cash flow

Fiscal year	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating cash flow	CNY 143B	CNY 200B	CNY 183B	CNY 164B	CNY 76.2B
Depreciation & amortisation	CNY 25.5B	CNY 24.7B	CNY 23.3B	CNY 24.5B	CNY 35B
Stock-based compensation	CNY 24B	CNY 30.8B	CNY 18.5B	CNY 14B	CNY 11.2B
Acquisitions	CNY 4.1B	CNY 1.2B	CNY 2.2B	−CNY 353M	CNY 1.2B
Share buybacks	CNY 61.2B	CNY 74.7B	CNY 88.7B	CNY 86.7B	CNY 7.6B
Dividends paid	CNY 0	CNY 0	CNY 17.9B	CNY 29.1B	CNY 33.7B

Key ratios

Fiscal year	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue growth (YoY)	–	1.8%	8.3%	5.9%	2.7%
Operating income growth (YoY)	–	44.1%	13.0%	24.3%	−64.4%
EPS growth (YoY)	–	20.8%	14.0%	71.4%	−17.9%
Gross margin	36.8%	36.7%	37.7%	40.0%	39.8%
Operating margin	8.2%	11.6%	12.0%	14.1%	4.9%
Net margin	7.3%	8.4%	8.5%	13.1%	10.1%
Return on equityBlank when equity is negative	6.6%	7.4%	8.1%	12.9%	9.8%
ROCEEBIT ÷ (assets − current liabilities)	5.3%	7.3%	8.4%	10.3%	3.5%
Cash conversion (CFO ÷ net income)	2.29x	2.74x	2.28x	1.26x	0.74x
Receivable days	14	14	12	11	13
Interest cover	14.2x	17.0x	14.3x	14.7x	5.12x
Debt ÷ equity	0.10x	0.10x	0.09x	0.12x	0.11x
Net debtDebt − cash & equivalents; excludes investments; negative = net cash	−CNY 95.6B	−CNY 96B	−CNY 162B	−CNY 23.1B	−CNY 14B
Current ratio	1.66x	1.81x	1.79x	1.55x	1.28x

Recent filings

20-F2026-05-20 ↗

More in Services-Business Services, Nec

Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.