GoAI
Get started
PDD Holdings Inc. logo

PDD Holdings Inc.

PDD

NASDAQConsumer CyclicalSpecialty Retail

Open in GoAI

Previous close

$88.38

−$1.14 · -1.27%

Aug 21, 4:00 PM ET

PDD company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

90

Deep Value

Momentum

28

Weakening

Sentiment

48

Mixed

Risk resilience

54

Elevated Risk

Full GoAI research

Thesis, catalysts, evidence, and risk analysis.

View full GoAI research

AI-generated, informational only, and not investment advice.

Company profile

Company website

PDD Holdings, Inc. is a multinational commerce group that owns and operates a portfolio of businesses. The company aims to bring more businesses and people into the digital economy so that local communities and small businesses can benefit from increased productivity and new opportunities. It has built a network of sourcing, logistics, and fulfillment capabilities, that support its underlying businesses. PDD Holdings was founded by Hua Lin Cai and Zheng Huang in 2015 and is headquartered in Dublin, Ireland.

Industry
Specialty Retail
Sector
Consumer Cyclical
Headquarters
IE
CEO
Lei Chen
Listed since
Jul 26, 2018
Employees
25,474

Market position

Day range

Current $88.38

52-week range

Current $88.38

Open
$90.07
Previous close
$89.52
Volume
6.9M
0.85× average
Average volume
8.07M
Average daily volume
Market cap
125.8B USD
Beta
-0.01
Market reference 1
50-day average
$84.5262
+4.56% above average
200-day average
$100.57
-12.12% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
930.78B CNY
P/E (TTM)
8.57×
P/B (TTM)
1.98×
P/S (TTM)
1.91×
EV / EBITDA
7.6×
Earnings yield
8.83%
Free cash flow yield
9.55%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
55.98%
Operating margin
22.19%
Net margin
21.63%
Return on equity
23.57%
Return on assets
15.52%
Return on invested capital
18.11%

Financial health

Debt / equity
0.01×
Current ratio
2.45×
Altman Z-score
5.05
Piotroski F-score
5 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends83%55%28%0%Gross margin, FY2021: 66.24%Gross margin, FY2022: 75.90%Gross margin, FY2023: 62.96%Gross margin, FY2024: 60.92%Gross margin, FY2025: 56.28%Operating margin, FY2021: 7.34%Operating margin, FY2022: 23.29%Operating margin, FY2023: 23.70%Operating margin, FY2024: 27.53%Operating margin, FY2025: 21.56%Net margin, FY2021: 8.27%Net margin, FY2022: 24.16%Net margin, FY2023: 24.24%Net margin, FY2024: 28.55%Net margin, FY2025: 22.66%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 66.24%. Gross margin FY2022 75.90%. Gross margin FY2023 62.96%. Gross margin FY2024 60.92%. Gross margin FY2025 56.28%. Operating margin FY2021 7.34%. Operating margin FY2022 23.29%. Operating margin FY2023 23.70%. Operating margin FY2024 27.53%. Operating margin FY2025 21.56%. Net margin FY2021 8.27%. Net margin FY2022 24.16%. Net margin FY2023 24.24%. Net margin FY2024 28.55%. Net margin FY2025 22.66%.

Income trends

Revenue

431.85B CNY+9.65%

Operating income

93.1B CNY-14.13%

Net income

97.84B CNY-12.98%
Income trends across reported periods474.34B CNY304.36B CNY134.38B CNY−35.6B CNYRevenue, FY2021: 93.95B CNYRevenue, FY2022: 130.56B CNYRevenue, FY2023: 247.64B CNYRevenue, FY2024: 393.84B CNYRevenue, FY2025: 431.85B CNYOperating income, FY2021: 6.9B CNYOperating income, FY2022: 30.4B CNYOperating income, FY2023: 58.7B CNYOperating income, FY2024: 108.42B CNYOperating income, FY2025: 93.1B CNYNet income, FY2021: 7.77B CNYNet income, FY2022: 31.54B CNYNet income, FY2023: 60.03B CNYNet income, FY2024: 112.43B CNYNet income, FY2025: 97.84B CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 93.95B CNY. Revenue FY2022 130.56B CNY. Revenue FY2023 247.64B CNY. Revenue FY2024 393.84B CNY. Revenue FY2025 431.85B CNY. Operating income FY2021 6.9B CNY. Operating income FY2022 30.4B CNY. Operating income FY2023 58.7B CNY. Operating income FY2024 108.42B CNY. Operating income FY2025 93.1B CNY. Net income FY2021 7.77B CNY. Net income FY2022 31.54B CNY. Net income FY2023 60.03B CNY. Net income FY2024 112.43B CNY. Net income FY2025 97.84B CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue431.85B CNY393.84B CNY247.64B CNY130.56B CNY93.95B CNY
Cost of goods sold188.8B CNY153.9B CNY91.72B CNY31.46B CNY31.72B CNY
Gross profit243.04B CNY239.94B CNY155.92B CNY99.1B CNY62.23B CNY
Research and development16.5B CNY12.66B CNY10.95B CNY10.38B CNY8.99B CNY
Selling, general, and administrative133.45B CNY118.85B CNY86.26B CNY58.31B CNY46.34B CNY
Operating expenses149.94B CNY131.51B CNY97.22B CNY68.69B CNY55.34B CNY
Interest income25.58B CNY20.55B CNY10.24B CNY4B CNY3.06B CNY
Interest expense——43.99M CNY51.66M CNY1.23B CNY
Depreciation and amortization3B CNY708.76M CNY786.24M CNY2.22B CNY1.5B CNY
Operating income93.1B CNY108.42B CNY58.7B CNY30.4B CNY6.9B CNY
Net income97.84B CNY112.43B CNY60.03B CNY31.54B CNY7.77B CNY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
64%
7 beats, 4 misses, 0 met estimates
Average EPS surprise
+15.32%
11 comparable reports
Latest EPS result
1.38
Estimate 2.4 · Miss by 42.50%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates3.222.561.91.24Q4 '24MissQ1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26MissQ3 '26Estimate
Q4 2024, reported Nov 21, 2024: actual 2.65, estimate 2.76, surprise -4.06%, Miss. Q1 2025, reported Mar 20, 2025: actual 2.76, estimate 2.56, surprise +7.81%, Beat. Q2 2025, reported May 27, 2025: actual 1.56, estimate 2.49, surprise -37.35%, Miss. Q3 2025, reported Aug 25, 2025: actual 3.08, estimate 1.91, surprise +61.26%, Beat. Q4 2025, reported Nov 18, 2025: actual 2.96, estimate 2.21, surprise +33.94%, Beat. Q1 2026, reported Mar 25, 2026: actual 2.53, estimate 2.98, surprise -15.10%, Miss. Q2 2026, reported May 27, 2026: actual 1.38, estimate 2.4, surprise -42.50%, Miss. Q3 2026, reported Aug 24, 2026: actual —, estimate 2.72, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates18.51B16.48B14.46B12.43BQ4 '24MissQ1 '25BeatQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26MissQ2 '26MissQ3 '26Estimate
Q4 2024, reported Nov 21, 2024: actual 14.15B USD, estimate 14.52B USD, surprise -2.51%, Miss. Q1 2025, reported Mar 20, 2025: actual 15.15B USD, estimate 14.31B USD, surprise +5.86%, Beat. Q2 2025, reported May 27, 2025: actual 13.14B USD, estimate 14.3B USD, surprise -8.09%, Miss. Q3 2025, reported Aug 25, 2025: actual 14.5B USD, estimate 15.09B USD, surprise -3.88%, Miss. Q4 2025, reported Nov 18, 2025: actual 15.21B USD, estimate 17.57B USD, surprise -13.45%, Miss. Q1 2026, reported Mar 25, 2026: actual 17.71B USD, estimate 17.8B USD, surprise -0.47%, Miss. Q2 2026, reported May 27, 2026: actual 15.4B USD, estimate 15.92B USD, surprise -3.27%, Miss. Q3 2026, reported Aug 24, 2026: actual —, estimate 16.94B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$106.5

20.50% upside
Past 12 months12-month forecastHigh $136Average $106.5Low $80.00

Rating distribution

28 ratings
Strong buy00%
Buy1346%
Hold1450%
Sell14%
Strong sell00%

Recent analyst actions

12 institutions
Freedom Capital MarketsmaintainBuy
Freedom BrokermaintainBuy

PDD news

benzinga.com

Top Wall Street Forecasters Revamp PDD Expectations Ahead Of Q2 Earnings

PDD Holdings Inc. (NASDAQ:PDD) will release its second quarter earnings report before the opening bell on Monday, Aug. 24.

Read source
fool.com

These Are 3 of the Cheapest Stocks on the Nasdaq-100 Right Now. Are They Deals, or Is There Underlying Risk Here?

These stocks trade at less than 10 times their estimated future earnings.

Read source
zacks.com

Why the Market Dipped But PDD Holdings Inc. Sponsored ADR (PDD) Gained Today

PDD Holdings Inc. Sponsored ADR (PDD) reached $86.94 at the closing of the latest trading day, reflecting a +2.54% change compared to its last close.

Read source
globenewswire.com

PDD Holdings to Report Second Quarter 2026 Unaudited Financial Results on August 24, 2026

DUBLIN and SHANGHAI, Aug. 17, 2026 (GLOBE NEWSWIRE) -- PDD Holdings Inc. (“PDD Holdings” or the “Company”) (NASDAQ: PDD) today announced that it will report its unaudited financial results for the second quarter ended…

Read source
247wallst.com

Billionaire Investor David Tepper Just Exited 12 Stocks. These 5 Are the Most Surprising.

Appaloosa Management just walked away from 12 stocks, and the pattern hiding beneath the list suggests David Tepper is betting everything on a very short list of survivors.

Read source
youtube.com

Tuesday's Final Takeaways: Chinese Stocks See Pressure & Existing Home Sales Slide

Sam Vadas focuses on moves outside of U.S. equities by explaining what's driving the selling action in Chinese stocks on Tuesday. Marley Kayden turns to the macro front by looking at the pressure on existing home sales.

Read source

PDD peers

Amazon.com, Inc. logo

AMZN

Amazon.com, Inc.

$258.63

-0.57%

Tesla, Inc. logo

TSLA

Tesla, Inc.

$362.86

+5.14%

Booking Holdings Inc. logo

BKNG

Booking Holdings Inc.

$209.62

-0.12%

Starbucks Corporation logo

SBUX

Starbucks Corporation

$107.08

+2.97%

Airbnb, Inc. logo

ABNB

Airbnb, Inc.

$187.3

+1.24%

MercadoLibre, Inc. logo

MELI

MercadoLibre, Inc.

$1,922.73

+0.04%

ETFs holding PDD

Funds reporting this stock among their holdings, ordered by reported position size.

Invesco QQQ Trust, Series 1 logoInvesco QQQ Trust, Series 1QQQ
Market value
1.29B
Weight
0.27%
AUM
485.41B USD
Expense ratio
0.18%
Price / 1D
$713.44+0.35%
Vanguard Total International Stock ETF logoVanguard Total International Stock ETFVXUS
Market value
1.01B
Weight
0.15%
AUM
646.2B USD
Expense ratio
0.05%
Price / 1D
$87.71+0.78%
Vanguard FTSE Emerging Markets ETF logoVanguard FTSE Emerging Markets ETFVWO
Market value
960.1M
Weight
0.57%
AUM
162.3B USD
Expense ratio
0.06%
Price / 1D
$60.45+0.72%
iShares Core MSCI Emerging Markets ETF logoiShares Core MSCI Emerging Markets ETFIEMG
Market value
595.08M
Weight
0.37%
AUM
160B USD
Expense ratio
0.09%
Price / 1D
$81.57+0.64%
KraneShares CSI China Internet ETF logoKraneShares CSI China Internet ETFKWEB
Market value
445.45M
Weight
8.40%
AUM
5.3B USD
Expense ratio
0.69%
Price / 1D
$26.66-0.11%
Invesco China Technology ETF logoInvesco China Technology ETFCQQQ
Market value
351.53M
Weight
11.60%
AUM
3.07B USD
Expense ratio
0.65%
Price / 1D
$49.37+0.90%
Invesco NASDAQ 100 ETF logoInvesco NASDAQ 100 ETFQQQM
Market value
274.79M
Weight
0.27%
AUM
104.09B USD
Expense ratio
0.15%
Price / 1D
$293.76+0.33%
Vanguard FTSE All-World ex-US ETF logoVanguard FTSE All-World ex-US ETFVEU
Market value
162.78M
Weight
0.17%
AUM
95.9B USD
Expense ratio
0.04%
Price / 1D
$85.69+0.82%

Continue in GoAI

Research PDD

research.disclaimer