$JD.com (JD.US)$ has a market cap of $33 Billion but Sales o...

$JD.com (JD.US)$ has a market cap of $33 Billion but Sales of $152 Billion and their share price is just above its IPO level now from 2014
A P/S of: 0.22
Their issue is their Net Margin which is only 2%
We saw this with $Amazon (AMZN.US)$ at the start of 2023, their share price then was at $81 and is now $154, their Net Margin went from 1.9% to 3.8% now
Any improvement on $JDs net margin in their earnings report and the share price reverses.
Current share price is $24
Verdict: Undervalued