Alibaba Group Holding Ltd
$94.38
+0.02 (+0.02%) · delayed · Nov 13, 2026
Five-year price
52w $91.99 to $181.10
- Market cap
- $1.82T
- Enterprise value
- $1.80T
- P/E
- 118.0×
- 125.3× on 3y avg EPS
- EV / EBIT
- 247.1×
- FCF yield
- 0.6%
- ROIC
- 4.1%
- Debt / equity
- —
- Piotroski F
- 4/9
Value scorecard · FY2026
Does it pass the value tests?
Quality
67
- ○ROIC > 12% (5y avg)5y avg ROIC 9.0%
- ○ROE > 15% (5y avg)5y avg ROE 8.9%
- ●Stable operating marginsMargin volatility 3.3% (σ, 5y)
- ●Earnings convert to cashFCF / net income 186% (5y avg)
- ●Growing revenueRevenue CAGR 5y 6.3%
- ●Shrinking share countDiluted shares -12.5% over 5y
Value
0
- ○P/E below 15P/E 118.0
- ○EV/EBIT below 12EV/EBIT 247.1
- ○FCF yield above 6%FCF yield 0.6%
- ○Price below Graham NumberGraham Number $12.00
- ○P/B below 3P/B 11.8
Safety
25
- –Debt / equity below 0.5D/E n/a
- ●Debt payable in < 4 yrs of earningsNet debt $-19.1B
- ○Interest coverage > 8xCoverage 5.1x
- ○Current ratio > 1.5Current ratio 1.28
- ○Piotroski F-score ≥ 6F-score 4/9
Graham Defensive
29
- ●Adequate size (revenue > $2B)Revenue $148.4B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.28
- ●Earnings stability (no loss, 10y)10 years of data
- ○Uninterrupted dividendsDividends paid every year on record
- ○Earnings growth ≥ 33% (10y, 3y avgs)EPS growth -80%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 125.3
- ○P/E × P/B ≤ 22.5Product 1478.8
Valuation lab
What do you have to believe?
At $94.38, the market is pricing in about 34.1% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt −$19.1B · 19235M shares · 5y revenue CAGR 6.3%
Intrinsic value
$12.79
Price
$94.38
Premium paid
638%
What the price implies
The market is paying for 34.1% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
58% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 22,994 | 39,898 | 56,152 | 71,985 | 109,480 | 134,567 | 126,491 | 130,350 | 137,300 | 148,401 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Operating income | 6,981 | 11,050 | 8,506 | 12,912 | 13,688 | 10,985 | 14,612 | 15,699 | 19,417 | 7,270 |
| Operating margin | 30.4% | 27.7% | 15.1% | 17.9% | 12.5% | 8.2% | 11.6% | 12.0% | 14.1% | 4.9% |
| Pre-tax income | 8,721 | 16,007 | 14,337 | 23,535 | 25,272 | 9,394 | 12,986 | 14,071 | 21,422 | 18,757 |
| Income tax | 2,002 | 2,901 | 2,466 | 2,904 | 4,469 | 4,230 | 2,264 | 3,120 | 4,884 | 4,356 |
| Net income | 6,345 | 10,218 | 13,095 | 21,104 | 22,983 | 9,820 | 10,598 | 11,081 | 17,929 | 15,018 |
| EPS (diluted) | 2.47 | 3.91 | 4.97 | 0.99 | 1.04 | 0.45 | 0.50 | 0.54 | 0.92 | 0.80 |
| Diluted shares | 2,573 | 20,881 | 20,988 | 21,346 | 21,982 | 21,787 | 21,114 | 20,359 | 19,318 | 19,235 |
Who owns it