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PDD Holdings Inc., a multinational commerce group that owns and operates a portfolio of businesses. It operates Pinduoduo platform which provides various product categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverages, consumer electronics, electronic appliances, furniture and household goods, cosmetics and other personal care items, sports and fitness, and auto accessories; and Temu, an online platform, which enables merchants to streamline their manufacturing and commercial operations. The company was formerly known as Pinduoduo Inc. and changed its name to PDD Holdings Inc. in February 2023. PDD Holdings Inc. was incorporated in 2015 and is based in Dublin, Ireland.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $431.8B | $122.4B | $97.8B | $105.8B | 23.7% | 9.7% | -13.0% |
| 2024 | $393.8B | $135.3B | $112.4B | $121.0B | 35.9% | 59.0% | 87.3% |
| 2023 | $247.6B | $73.8B | $60.0B | $93.6B | 32.1% | 89.7% | 90.3% |
| 2022 | $130.6B | $39.2B | $31.5B | $47.9B | 26.8% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 431,845.71 |
| Operating Revenue | 431,845.71 |
| Cost Of Revenue | 188,801.75 |
| Gross Profit | 243,043.96 |
| Operating Expense | 149,941.83 |
| Research And Development | 16,496.16 |
| Selling General And Administration | 133,445.66 |
| Total Expenses | 338,743.58 |
| Operating Income | 93,102.13 |
| Total Operating Income As Reported | 93,102.13 |
| EBITDA | 122,446.65 |
| Normalized EBITDA | 124,413.28 |
| EBIT | 119,446.29 |
| Interest Income | 25,583.85 |
| Interest Expense | 0 |
| Net Interest Income | 25,583.85 |
| Other Non Operating Income Expenses | 2,726.93 |
| Other Income Expense | 760.31 |
| Interest Income Non Operating | 25,583.85 |
| Interest Expense Non Operating | 0 |
| Net Non Operating Interest Income Expense | 25,583.85 |
| Pretax Income | 119,446.29 |
| Tax Provision | 21,732.76 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | -357.93 |
| Net Income Continuous Operations | 97,842.54 |
| Net Income From Continuing And Discontinued Operation | 97,842.54 |
| Net Income From Continuing Operation Net Minority Interest | 97,842.54 |
| Net Income | 97,842.54 |
| Net Income Common Stockholders | 97,842.54 |
| Net Income Including Noncontrolling Interests | 97,842.54 |
| Normalized Income | 99,451.24 |
| Diluted NI Availto Com Stockholders | 97,842.54 |
| Basic Average Shares | 1,397.73 |
| Diluted Average Shares | 1,482.39 |
| Reconciled Depreciation | 3,000.36 |
| Reconciled Cost Of Revenue | 188,801.75 |
| Total Unusual Items | -1,966.62 |
| Total Unusual Items Excluding Goodwill | -1,966.62 |
| Earnings From Equity Interest Net Of Tax | 129 |
| Gain On Sale Of Security | -1,966.62 |
| General And Administrative Expense | 8,157.73 |
| Other Gand A | 8,157.73 |
| Selling And Marketing Expense | 125,287.93 |
| Average Dilution Earnings | 0 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| PDD Holdings Inc.this co. | PDD | $122.2B | 1.25↓ discount | 0.30 | 23.7% | -2.41 |
| Booking Holdings Inc. | BKNG | $129.8B | 24.02 | -23.27 | -96.9% | 14.31 |
| Lowe's Companies, Inc. | LOW | $116.4B | 17.49 | -11.73 | -67.1% | 12.84 |
| Starbucks Corporation | SBUX | $107.3B | 57.80 | -13.25 | -22.9% | 27.10 |
| Marriott International, Inc. | MAR | $101.6B |
| - |
| - |
| - |
| - |
| - |
| 39.06 |
| -26.94 |
| -69.0% |
| 24.64 |
| MercadoLibre, Inc. | MELI | $82.9B | 41.50 | 12.28 | 29.6% | 23.72 |
| Airbnb, Inc. | ABNB | $79.4B | 31.61 | 9.68 | 30.6% | 29.43 |
| Royal Caribbean Cruises Ltd. | RCL | $78.7B | 18.43 | 7.84 | 42.5% | 14.10 |
| Hilton Worldwide Holdings Inc. | HLT | $77.0B | 52.83 | -14.29 | -27.0% | 31.08 |
| Peer Median | - | 35.33 | -12.49 | -25.0% | 24.18 | |