JD vs. ENPH

Last updated Apr 1, 2026

Compare and contrast key facts about JD.com, Inc. (JD) and Enphase Energy, Inc. (ENPH).

Performance

JD vs. ENPH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JD.com, Inc. (JD) and Enphase Energy, Inc. (ENPH). The values are adjusted to include any dividend payments, if applicable.

JD vs. ENPH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JD JD.com, Inc.	3.03%	-14.78%	23.45%	-47.76%	-17.87%	-20.28%	149.50%	68.32%	-49.47%	62.81%
ENPH Enphase Energy, Inc.	17.97%	-53.33%	-48.02%	-50.13%	44.83%	4.26%	571.53%	452.43%	96.27%	138.61%

Fundamentals

Market Cap JD : $41.56B ENPH : $5.05B
EPS JD : $13.49 ENPH : $1.29
PE Ratio JD : 2.19 ENPH : 29.41
PEG Ratio JD : 0.11 ENPH : 0.67
PS Ratio JD : 0.03 ENPH : 3.44
PB Ratio JD : 0.18 ENPH : 4.64
Total Revenue (TTM) JD : $1.30T ENPH : $1.47B
Gross Profit (TTM) JD : $187.00B ENPH : $687.00M
EBITDA (TTM) JD : $30.61B ENPH : $250.47M

Returns By Period

In the year-to-date period, JD achieves a 3.03% return, which is significantly lower than ENPH's 17.97% return. Over the past 10 years, JD has underperformed ENPH with an annualized return of 1.99%, while ENPH has yielded a comparatively higher 31.80% annualized return.

JD

• 1D: 2.18%
• 1M: 11.46%
• YTD: 3.03%
• 6M: -15.47%
• 1Y: -25.97%
• 3Y*: -10.20%
• 5Y*: -17.31%
• 10Y*: 1.99%

ENPH

• 1D: 6.09%
• 1M: -10.55%
• YTD: 17.97%
• 6M: 6.84%
• 1Y: -39.07%
• 3Y*: -43.56%
• 5Y*: -25.31%
• 10Y*: 31.80%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

JD vs. ENPH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JD

JD Risk / Return Rank: 14
JD Sharpe Ratio Rank: 10
JD Sortino Ratio Rank: 11
JD Omega Ratio Rank: 13
JD Calmar Ratio Rank: 17
JD Martin Ratio Rank: 19

ENPH

ENPH Risk / Return Rank: 23
ENPH Sharpe Ratio Rank: 21
ENPH Sortino Ratio Rank: 24
ENPH Omega Ratio Rank: 24
ENPH Calmar Ratio Rank: 20
ENPH Martin Ratio Rank: 25

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JD vs. ENPH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JD.com, Inc. (JD) and Enphase Energy, Inc. (ENPH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	JD	ENPH	Difference
Sharpe ratio Return per unit of total volatility	-0.76	-0.47	-0.29
Sortino ratio Return per unit of downside risk	-1.03	-0.28	-0.75
Omega ratio Gain probability vs. loss probability	0.89	0.96	-0.08
Calmar ratio Return relative to maximum drawdown	-0.73	-0.66	-0.07
Martin ratio Return relative to average drawdown	-1.20	-1.00	-0.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JD vs. ENPH - Sharpe Ratio Comparison

The current JD Sharpe Ratio is -0.76, which is lower than the ENPH Sharpe Ratio of -0.47. The chart below compares the historical Sharpe Ratios of JD and ENPH, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JD	ENPH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.76	-0.47	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.32	-0.37	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.04	0.41	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.16	-0.08

Correlation

The correlation between JD and ENPH is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

JD vs. ENPH - Dividend Comparison

JD's dividend yield for the trailing twelve months is around 3.38%, while ENPH has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022
JD JD.com, Inc.	3.38%	3.48%	2.19%	2.15%	2.24%
ENPH Enphase Energy, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

JD vs. ENPH - Drawdown Comparison

The maximum JD drawdown since its inception was -79.12%, smaller than the maximum ENPH drawdown of -95.97%. Use the drawdown chart below to compare losses from any high point for JD and ENPH.

Drawdown Indicators

	JD	ENPH	Difference
Max Drawdown Largest peak-to-trough decline	-79.12%	-95.97%	+16.85%
Max Drawdown (1Y) Largest decline over 1 year	-36.72%	-58.22%	+21.50%
Max Drawdown (5Y) Largest decline over 5 years	-75.63%	-92.23%	+16.60%
Max Drawdown (10Y) Largest decline over 10 years	-79.12%	-92.23%	+13.11%
Current Drawdown Current decline from peak	-69.51%	-88.75%	+19.24%
Average Drawdown Average peak-to-trough decline	-37.11%	-50.06%	+12.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.39%	38.75%	-16.36%

Volatility

JD vs. ENPH - Volatility Comparison

The current volatility for JD.com, Inc. (JD) is 11.73%, while Enphase Energy, Inc. (ENPH) has a volatility of 18.83%. This indicates that JD experiences smaller price fluctuations and is considered to be less risky than ENPH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JD	ENPH	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.73%	18.83%	-7.10%
Volatility (6M) Calculated over the trailing 6-month period	21.30%	55.24%	-33.94%
Volatility (1Y) Calculated over the trailing 1-year period	34.35%	82.78%	-48.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.69%	68.17%	-14.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.93%	77.54%	-29.61%

Financials

JD vs. ENPH - Profitability Comparison

The chart below illustrates the profitability comparison between JD.com, Inc. and Enphase Energy, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

JD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, JD.com, Inc. reported a gross profit of 54.04B and revenue of 347.42B. Therefore, the gross margin over that period was 15.6%.

ENPH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Enphase Energy, Inc. reported a gross profit of 152.03M and revenue of 343.32M. Therefore, the gross margin over that period was 44.3%.

JD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, JD.com, Inc. reported an operating income of -4.48B and revenue of 347.42B, resulting in an operating margin of -1.3%.

ENPH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Enphase Energy, Inc. reported an operating income of 22.44M and revenue of 343.32M, resulting in an operating margin of 6.5%.

JD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, JD.com, Inc. reported a net income of -2.68B and revenue of 347.42B, resulting in a net margin of -0.8%.

ENPH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Enphase Energy, Inc. reported a net income of 38.71M and revenue of 343.32M, resulting in a net margin of 11.3%.