Alibaba Group Holding Limited (BABA) annual results, year to 31 March 2025: revenue CNY 996,347 million, from the 20-F
Alibaba Group Holding Limited files a 20-F with the SEC once a year, in renminbi. In the year to 31 March 2025 it reported revenue of CNY 996,347 million ($138.1 billion at the year's average rate), up 5.9% on the year before. Its profit attributable to shareholders was CNY 130,109 million, up 62.6%, and diluted earnings per share CNY 6.70.
The year to 31 March 2025, against the year before
| Year to | Mar 2024 | Mar 2025 |
|---|---|---|
| Revenue | 941,168 | 996,347 |
| Cost of sales | 586,323 | 598,285 |
| Research and development | 52,256 | 57,151 |
| Operating profit | 113,350 | 140,905 |
| Profit before tax | 101,596 | 155,455 |
| Income tax | 22,529 | 35,445 |
| Profit for the year | 71,332 | 125,976 |
| Profit attributable to shareholders | 80,009 | 130,109 |
| Filing | 20-F | 20-F |
CNY million, from the 20-F on the SEC's EDGAR, linked in the last row, on the US GAAP tags the company filed. A line the company does not file under the standard tag is left out rather than estimated.
CNY per ordinary share, as filed.
Cash flow
CNY million. Free cash flow is cash from operations less the purchase of property, plant and equipment, arithmetic on the two filed lines.
Balance sheet at year end
| Year to | Mar 2024 | Mar 2025 |
|---|---|---|
| Total assets | 1,764,829 | 1,804,227 |
| Equity attributable to shareholders | 986,544 | 1,009,858 |
| Cash and cash equivalents | 248,125 | 145,487 |
| Trade and other receivables | 30,686 | 31,172 |
| Goodwill | 259,679 | 255,501 |
| Filing | 20-F | 20-F |
CNY million, at each fiscal year end.
Ratios on the filed lines
| Year to | Mar 2024 | Mar 2025 |
|---|---|---|
| Operating margin | 12.0% | 14.1% |
| Net margin | 8.5% | 13.1% |
| Return on year-end equity | 8.1% | 12.9% |
| Effective tax rate | 22.2% | 22.8% |
| Filing | 20-F | 20-F |
Arithmetic on the filed lines of the same year.
The exchange rates used
| Year to | Average over the year CNY per US dollar | At the year end CNY per US dollar |
|---|---|---|
| Mar 2015 | 6.19 | 6.20 |
| Mar 2016 | 6.35 | 6.45 |
| Mar 2017 | 6.72 | 6.88 |
| Mar 2018 | 6.62 | 6.27 |
| Mar 2019 | 6.70 | 6.71 |
| Mar 2020 | 6.96 | 7.08 |
| Mar 2021 | 6.77 | 6.55 |
| Mar 2022 | 6.42 | 6.34 |
| Mar 2023 | 6.84 | 6.87 |
| Mar 2024 | 7.17 | 7.22 |
| Mar 2025 | 7.22 | 7.26 |
| Mar 2026 | 7.10 | 6.90 |
Converted by us, not by the company: the Federal Reserve's daily noon buying rates in New York (H.10), FRED series DEXCHUS. Profit and loss, cash flow and EPS use the average of the daily rates over each fiscal year; the balance sheet uses the rate on the year end, or the last one before it. Ratios are the same in either currency. The filed figures are the ones in renminbi.
Every annual report here
- Year to 31 March 2026
- Year to 31 March 2025, this page
- Year to 31 March 2024
- Year to 31 March 2023
- Year to 31 March 2022
- Year to 31 March 2021
- Year to 31 March 2020
- Year to 31 March 2019
- Year to 31 March 2018
- Year to 31 March 2017
- Year to 31 March 2016
- Year to 31 March 2015
Source
20-F for the year to 31 March 2025, filed 20 May 2026, accession 0001193125-26-231755: the filing on EDGAR. All of Alibaba Group Holding Limited's filings: EDGAR company page. The figures are in renminbi as filed.
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