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Alibaba Group Holding Limited

BABA · NYSE · Consumer retail, online retail · China · US GAAP · Fiscal year ends March

Latest report: FY2026, the fiscal year ended 31 March 2026, released 20 May 2026. Snapshot FY2026_aea43620.

Overview

Revenue, fiscal year
+2.7% year on year
Operating income, fiscal year
−64.4% year on year
Net income, fiscal year
−20.4% year on year
Diluted EPS, fiscal year
−17.9% year on year
Operating margin, fiscal year
−9.2pp year on year
Return on equity, fiscal year
−3.0pp year on year

Select a figure to see the document it came from.

Key Findings

Findings for the latest fiscal year, with their history over earlier years.

  1. Revenue for the fiscal year ended 31 March 2026 was RMB1.02 trillion, 2.7% higher than in the previous fiscal year.

    Weakenedin FY2026 · stated since FY20242.7% from 5.9% in FY2025
    Rule: Revenue against the previous fiscal year · Sources 20-F 2026-03
    History of this finding, 3 records
    1. FY2026 WeakenedRevenue for the fiscal year ended 31 March 2026 was RMB1.02 trillion, 2.7% higher than in the previous fiscal year.Recorded from FY2026_aea43620 · data update
    2. FY2025 WeakenedRevenue for the fiscal year ended 31 March 2025 was RMB996.3 billion, 5.9% higher than in the previous fiscal year.Reconstructed · data update
    3. FY2024 NewRevenue for the fiscal year ended 31 March 2024 was RMB941.2 billion, 8.3% higher than in the previous fiscal year.Reconstructed · initial
  2. Net income attributable to the company for fiscal 2026 was RMB103.6 billion, 20.4% lower than in the previous fiscal year.

    Newin FY2026 · first stated
    Rule: Net income against the previous fiscal year · Sources 20-F 2026-03
    History of this finding, 4 records
    1. FY2026 NewNet income attributable to the company for fiscal 2026 was RMB103.6 billion, 20.4% lower than in the previous fiscal year.Recorded from FY2026_aea43620 · data update
    2. FY2026 RetiredThe finding changed to lower than a year earlier.Recorded from FY2026_aea43620 · data update
    3. FY2025 StrengthenedNet income attributable to the company for fiscal 2025 was RMB130.1 billion, 62.6% higher than in the previous fiscal year.Reconstructed · data update
    4. FY2024 NewNet income attributable to the company for fiscal 2024 was RMB80.0 billion, 9.9% higher than in the previous fiscal year.Reconstructed · initial
  3. The operating margin for fiscal 2026 was 4.9%, 9.2 percentage points lower than a year earlier.

    Newin FY2026 · first stated
    Rule: Operating margin against a year earlier · Sources 20-F 2026-03
    History of this finding, 4 records
    1. FY2026 NewThe operating margin for fiscal 2026 was 4.9%, 9.2 percentage points lower than a year earlier.Recorded from FY2026_aea43620 · data update
    2. FY2026 RetiredThe finding changed to lower than a year earlier.Recorded from FY2026_aea43620 · data update
    3. FY2025 StrengthenedThe operating margin for fiscal 2025 was 14.1%, 2.1 percentage points higher than a year earlier.Reconstructed · data update
    4. FY2024 NewThe operating margin for fiscal 2024 was 12.0%, 0.5 percentage points higher than a year earlier.Reconstructed · initial
  4. Return on equity for fiscal 2026 was 10.0%, against 13.0% a year earlier.

    Newin FY2026 · first stated
    Rule: Return on equity against a year earlier · Sources 20-F 2026-03, 20-F 2025-03
    History of this finding, 4 records
    1. FY2026 NewReturn on equity for fiscal 2026 was 10.0%, against 13.0% a year earlier.Recorded from FY2026_aea43620 · data update
    2. FY2026 RetiredThe finding changed to lower than a year earlier.Recorded from FY2026_aea43620 · data update
    3. FY2025 StrengthenedReturn on equity for fiscal 2025 was 13.0%, against 8.1% a year earlier.Reconstructed · data update
    4. FY2024 NewReturn on equity for fiscal 2024 was 8.1%, against 7.5% a year earlier.Reconstructed · initial
  5. Cash and short-term investments exceeded total debt by RMB231.0 billion at 31 March 2026.

    Weakenedin FY2026 · stated since FY2024
    Rule: Net debt or net cash · Sources 20-F 2026-03
    History of this finding, 3 records
    1. FY2026 WeakenedCash and short-term investments exceeded total debt by RMB231.0 billion at 31 March 2026.Recorded from FY2026_aea43620 · data update
    2. FY2025 StrengthenedCash and short-term investments exceeded total debt by RMB338.5 billion at 31 March 2025.Reconstructed · data update
    3. FY2024 NewCash and short-term investments exceeded total debt by RMB248.1 billion at 31 March 2024.Reconstructed · initial

Records before FY2026 are reconstructed from the latest snapshot. Ledger: findings.json.

Credit, liquidity, earnings quality and score findings: Analysis.

Data

Source documents6 documents, latest 20-F for the year to 31 March 2026List
SnapshotFY2026_aea43620

Corporate Events

Corporate events are listed for companies whose figures come from 10-K and 10-Q filings; none are listed for this company.

Earnings, Returns and Balance Sheet

Revenue

By fiscal year, renminbi

Operating Income

By fiscal year, renminbi

Net Income Attributable to the Company

By fiscal year, renminbi

Margins

By fiscal year, per cent

Returns

By fiscal year, per cent

Net Debt

Total debt less cash and short-term investments, at fiscal year end, renminbi

Diluted Earnings per Share

By fiscal year, as reported

Financial Statements

Figures as filed. Select a figure for its source document and method; a small d marks a figure derived from other figures of the same report.

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Ratios

Select a ratio for its formula and the figures it uses, each with its document; (i) gives its definition.

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Source Documents

Documents of this snapshot, latest first.

DocumentDateId
20-F for the year to 31 March 202620 May 202620-F:0001193125-26-231755
20-F for the year to 31 March 202526 Jun 202520-F:0000950170-25-090161
20-F for the year to 31 March 202423 May 202420-F:0000950170-24-063767
20-F for the year to 31 March 202321 Jul 202320-F:0000950170-23-033752
20-F for the year to 31 March 202226 Jul 202220-F:0001104659-22-082622
20-F for the year to 31 March 202127 Jul 202120-F:0001104659-21-096092

Checks

217209 of 217 checks passed, 8 warnings
Annual reports read0 of 1 passedEvery annual report on Form 20-F used is that of the company and gives its fiscal year in the accounting basis of the company record. A report that cannot be read is not used. Checked at warning level.
A figure
Fiscal calendar13 passedFiscal years last 350 to 380 days, and each starts on the day after the one before. Checked at error level.
Coverage2 passedThe latest fiscal year gives total assets and a profit figure. Checked at error level.
Balance sheet structure7 passedTotal assets equal liabilities, temporary equity and total equity. Checked at warning level.
Earnings per share7 passedProfit divided by earnings per share gives a number of shares in line with the other years. Checked at warning level.
Agreement between annual reports180 passedA value of a year that the annual report of the year and that of the next year give in the same amount. A value that the later report gives differently is listed as a restatement, and the later value is used. Checked at warning level.
Withheld values7 values withheldA value that contradicts the definition of its item, or that documents report in contradiction, is withheld. Checked at warning level.
Cost of revenue, FY2020: withheld, the company presents no gross profit, so nothing proves it to be the whole cost of the revenue
Cost of revenue, FY2021: withheld, the company presents no gross profit, so nothing proves it to be the whole cost of the revenue
Cost of revenue, FY2022: withheld, the company presents no gross profit, so nothing proves it to be the whole cost of the revenue
Cost of revenue, FY2023: withheld, the company presents no gross profit, so nothing proves it to be the whole cost of the revenue
Cost of revenue, FY2024: withheld, the company presents no gross profit, so nothing proves it to be the whole cost of the revenue
Cost of revenue, FY2025: withheld, the company presents no gross profit, so nothing proves it to be the whole cost of the revenue

Data Quality

How many values of this snapshot the checks prove, and how many Annalist derives, withholds and tracks as restated. Every company.

Values published355
Confirmed by other figures58.6%, 208 values
Confirmed by a second document50.7%, 180 values
Derived from reported figures0.0%, 0 values
Values withheld7
Restated figures tracked23
Changes compared on one basis0
Company lines mapped0 of 0 reviewed

Citation

Annalist, Alibaba Group Holding Limited, snapshot alibaba/FY2026_aea43620 (as of FY2026); <item label>, <period>; source <document id> (<document url>)

Snapshot FY2026_aea43620 · dataset SHA-256 aea436207134aea51e5b5e87c170b0a3a2c54626ee2d6044c6a4d9676ff3a8e0 · findings rules 0.5

Data: info.json · dataset.json · validation.json · documents.json