BABA · FY2026 (annual; quarter not disclosed)
Alibaba Group Holding Ltd FY2026 (annual; quarter not disclosed) earnings analysis
| Metric | Actual | Estimate | Result |
|---|---|---|---|
| Revenue | $1,023.67B | $996.35B yr ago | Beat |
| EPS | $5.50 | $6.70 yr ago | Miss |
| Free Cash Flow | $76.21B proxy; not meaningful for this classification | $163.51B yr ago; not meaningful | Miss |
| Gross Margin | Not meaningful | Not meaningful yr ago | Miss |
| Operating Margin | 4.9% pre-tax margin | 14.1% pre-tax margin yr ago | Miss |
What changed
FY2026 revenue increased 2.7% to $1,023.67B, but pre-tax margin fell 9.2 percentage points to 4.9% and EPS declined 17.9% to $5.50. The supplied free-cash-flow proxy dropped to $76.21B from $163.51B, although that measure is not meaningful under the provided financial-company classification. No quarterly release or current quarterly table was supplied, so this report card evaluates the annual FY2026 figures rather than an unverified quarter.
Impact on the investment thesis
There is no prior SageNoodle fair value to revise, and the missing quarterly release does not justify treating this as a quarterly reset. We establish a $110 fair value based on FY2026 EPS and explicit scenario multiples, leaving the shares fairly valued at $108.55.