PDD
PDD Holdings Inc.PDD Holdings Inc. reported revenue of CNY 431.85B in its most recent fiscal year, up 9.7% on the year before. It kept 22.7% of that as net income. Figures below are compared against other companies classified under Services-Business Services, NEC.
Grades vs. industry
Growth
| Metric | Company | Industry median | Rank |
|---|---|---|---|
Revenue growth (YoY) Latest fiscal year revenue vs. the year before. | 9.7% | 8.4% | 46 / 98 |
Revenue growth (3y) Annualized revenue growth over three fiscal years. | 49.0% | 8.7% | 4 / 92 |
Revenue growth (5y) Annualized revenue growth over five fiscal years. | 48.7% | 12.9% | 7 / 85 |
EPS growth (YoY) Diluted EPS vs. the prior fiscal year. | -13.2% | 8.2% | 39 / 55 |
EPS growth (3y) Annualized diluted EPS growth over three fiscal years. | 44.4% | 17.2% | 5 / 32 |
EPS growth (5y) Annualized diluted EPS growth over five fiscal years. | Not reported | 11.2% | — |
Free cash flow growth (YoY) Operating cash flow less capital expenditure, vs. prior year. | Not reported | 13.5% | — |
Free cash flow growth (3y) Annualized free cash flow growth over three fiscal years. | Not reported | 16.5% | — |
top third of peersmiddle thirdbottom third. Rank 1 is always best — for debt and payout ratios that means the lowest figure, not the highest.
“Not reported” means the company did not tag this figure in its filing, not that the value is zero. Rankings are hidden where fewer than 5 classified peers reported the metric, and compare against a broad industry code rather than close competitors.
Profitability
| Metric | Company | Industry median | Rank |
|---|---|---|---|
Gross margin Gross profit as a share of revenue. Often unreported. | 56.3% | 41.7% | 27 / 72 |
Operating margin Operating income as a share of revenue. | 21.6% | 4.3% | 15 / 92 |
Net margin Net income as a share of revenue. | 22.7% | 4.9% | 12 / 97 |
Free cash flow margin Free cash flow as a share of revenue. | Not reported | 12.1% | — |
Return on equity Net income divided by shareholder equity. | 23.7% | 6.1% | 22 / 87 |
Return on assets Net income divided by total assets. | 15.5% | 1.7% | 8 / 101 |
Return on invested capital After-tax operating profit over debt plus equity less cash. | 25.0% | 4.7% | 13 / 84 |
top third of peersmiddle thirdbottom third. Rank 1 is always best — for debt and payout ratios that means the lowest figure, not the highest.
“Not reported” means the company did not tag this figure in its filing, not that the value is zero. Rankings are hidden where fewer than 5 classified peers reported the metric, and compare against a broad industry code rather than close competitors.
Financial health
| Metric | Company | Industry median | Rank |
|---|---|---|---|
Debt to equity Total debt divided by shareholder equity. | Not reported | 0.62x | — |
Current ratio Current assets over current liabilities. | 2.43x | 1.42x | 26 / 98 |
Quick ratio Current assets excluding inventory, over current liabilities. | 2.43x | 1.42x | 26 / 98 |
Interest coverage Operating income divided by interest expense. | Not reported | 2.77x | — |
Net debt to EBITDA Net debt over derived EBITDA. EBITDA is not a GAAP tag; it is computed. | -4.51x | -0.06x | 10 / 63 |
top third of peersmiddle thirdbottom third. Rank 1 is always best — for debt and payout ratios that means the lowest figure, not the highest.
“Not reported” means the company did not tag this figure in its filing, not that the value is zero. Rankings are hidden where fewer than 5 classified peers reported the metric, and compare against a broad industry code rather than close competitors.
Debt figures can be understated where a filer splits borrowings across XBRL tags this site does not match.
Insider activity
Trades reported by officers, directors and 10% shareholders on SEC Form 4. None of the last 9 reported transactions were open-market purchases — grants, option exercises and sales make up the majority of insider filings at most companies.
| Date | Insider | Transaction | Shares | Price | Value |
|---|---|---|---|---|---|
| Sep 3, 2026 | Kam Anthony Ping Leung Director | Open-market sale | 1,705 | $82.20 | $140.2K |
| Sep 1, 2026 | Kam Anthony Ping Leung Director | Option exercise(derivative) | 1,220 | $0.00 | $0.00 |
| Sep 1, 2026 | Kam Anthony Ping Leung Director | Option exercise(derivative) | 485 | $0.00 | $0.00 |
| Sep 1, 2026 | Kam Anthony Ping Leung Director | Grant or award(derivative) | 391 | $0.00 | $0.00 |
| Sep 1, 2026 | Kam Anthony Ping Leung Director | Option exercise | 1,705 | — | — |
| Aug 1, 2026 | Yeo George Yong-Boon Director | Option exercise(derivative) | 1,045 | $0.00 | $0.00 |
| Aug 1, 2026 | Yeo George Yong-Boon Director | Option exercise(derivative) | 539 | $0.00 | $0.00 |
| Aug 1, 2026 | Yeo George Yong-Boon Director | Grant or award(derivative) | 423 | $0.00 | $0.00 |
| Aug 1, 2026 | Yeo George Yong-Boon Director | Option exercise | 1,584 | — | — |
A dash under price or value means none was reported, which is normal for grants and gifts — it does not mean the shares were free. Option exercises and awards are compensation arriving on a schedule, not a judgement about the stock.
Annual financials
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CNY 431.85B | CNY 393.84B | CNY 247.64B | CNY 130.56B | CNY 93.95B | CNY 59.49B | CNY 30.14B | CNY 13.12B | CNY 1.74B | CNY 504.86M |
| Gross profit | — | — | — | CNY 99.10B | CNY 62.23B | CNY 40.21B | CNY 23.80B | CNY 10.21B | CNY 1.02B | -CNY 73.01M |
| Operating income | CNY 93.10B | CNY 108.42B | CNY 58.70B | CNY 30.40B | CNY 6.90B | -CNY 9.38B | -CNY 8.54B | -CNY 10.80B | -CNY 595.72M | -CNY 286.21M |
| Net income | CNY 97.84B | CNY 112.43B | CNY 60.03B | CNY 31.54B | CNY 7.77B | -CNY 7.18B | -CNY 6.97B | -CNY 10.22B | -CNY 525.12M | -CNY 291.98M |
| EPS (diluted) | CNY 16.50 | CNY 19.00 | CNY 10.29 | CNY 5.48 | CNY 1.36 | -CNY 1.51 | -CNY 1.51 | -CNY 3.47 | -CNY 0.28 | -CNY 0.18 |
| Operating cash flow | CNY 106.94B | CNY 121.93B | CNY 94.16B | CNY 48.51B | CNY 28.78B | CNY 28.20B | CNY 14.82B | CNY 7.77B | CNY 9.69B | CNY 879.78M |
| Capital expenditure | — | — | — | — | — | CNY 43.05M | CNY 27.44M | CNY 27.33M | CNY 8.92M | CNY 2.30M |
| Free cash flow | — | — | — | — | — | CNY 28.15B | CNY 14.79B | CNY 7.74B | CNY 9.68B | CNY 877.48M |
| Total assets | CNY 630.04B | CNY 505.03B | CNY 348.08B | CNY 237.12B | CNY 181.21B | CNY 158.91B | CNY 76.06B | CNY 43.18B | CNY 13.31B | — |
| Shareholder equity | CNY 413.39B | CNY 313.31B | CNY 187.24B | CNY 117.77B | CNY 75.11B | CNY 60.18B | CNY 24.65B | CNY 18.82B | -CNY 991.96M | -CNY 426.28M |
| Total debt | — | — | — | — | — | CNY 1.87B | CNY 898.75M | — | — | — |
| Cash | CNY 108.90B | CNY 57.77B | CNY 59.79B | CNY 34.33B | CNY 6.43B | CNY 22.42B | CNY 5.77B | CNY 14.16B | CNY 3.06B | CNY 1.32B |
A dash means the figure was not tagged in that year’s filing. It does not mean zero. Figures reflect the most recent filing covering each period, so restated years show their restated values.
Amounts are in CNY, as the company reports them. Nothing here is converted to dollars, so these figures cannot be compared directly against a company reporting in another currency. Margins, returns and other ratios are unaffected.
Source
Figures come from PDD Holdings Inc.’s filings with the SEC, as submitted in XBRL. The most recent annual figures are from a 20-F filed Apr 29, 2026. View filings on EDGAR.