PDD Holdings Inc. (PDD)PDDPDD Holdings Inc.

Financials

Quarterly Income Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Revenue	62.733B	15.303B	17.714B	15.205B	14.511B	13.180B	15.149B	14.154B	13.352B
Cost of Goods Sold	27.618B	6.755B	7.885B	6.578B	6.400B	5.641B	6.546B	5.657B	4.636B
Gross Profit	35.116B	8.548B	9.829B	8.628B	8.111B	7.539B	8.603B	8.497B	8.716B
Gross Profit Margin	55.9%	55.9%	55.5%	56.7%	55.9%	57.2%	56.8%	60.0%	65.3%
Total Operating Expenses	21.211B	5.502B	6.084B	5.113B	4.512B	5.323B	5.098B	5.036B	4.236B
Research & Development	2.460B	636.428M	714.069M	608.367M	501.163M	492.882M	517.322M	436.405M	400.191M
Selling, General & Administrative	18.751B	4.865B	5.370B	4.505B	4.011B	4.830B	4.580B	4.600B	3.836B
Operating Income (EBIT)	13.905B	3.046B	3.745B	3.514B	3.599B	2.216B	3.505B	3.461B	4.480B
Operating Margin	19.9%	19.9%	21.1%	23.1%	24.8%	16.8%	23.1%	24.5%	33.6%
Income Before Tax (EBT)	16.536B	2.400B	4.498B	4.678B	4.959B	2.648B	4.455B	4.157B	5.217B
Interest Income	3.477B	-91.042M	911.063M	1.203B	1.454B	30.738M	716.743M	771.575M	667.935M
Interest Expense	—	—	—	—	—	—	—	—	—
Other Income/Expense	2.631B	-645.792M	753.062M	1.164B	1.360B	432.166M	950.121M	696.609M	737.243M
Net Income	13.508B	1.807B	3.291B	4.119B	4.292B	2.031B	3.759B	3.559B	4.403B
Income Tax Expense	3.027B	592.780M	1.207B	559.850M	667.304M	617.279M	696.140M	598.563M	813.614M
Net Profit Margin	11.8%	11.8%	18.6%	27.1%	29.6%	15.4%	24.8%	25.1%	33.0%
EBITDA	19.574B	2.400B	7.511B	4.678B	4.984B	2.673B	4.479B	4.185B	5.244B
EBITDA Margin	15.7%	15.7%	42.4%	30.8%	34.3%	20.3%	29.6%	29.6%	39.3%
Depreciation & Amortization	24.727M	0.00	0.00	0.00	24.727M	24.410M	24.268M	28.002M	27.039M
EPS Basic	9.80	1.29	2.50	2.94	3.07	1.46	2.71	2.57	3.18
EPS Diluted	9.25	1.22	2.36	2.77	2.90	1.37	2.54	2.41	2.97
Shares Outstanding	1.404B	1.404B	1.403B	1.399B	1.397B	1.392B	1.389B	1.386B	1.383B
Diluted Shares Outstanding	1.480B	1.480B	1.487B	1.488B	1.482B	1.483B	1.481B	1.477B	1.481B

Annual Income Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	61.737B	53.940B	34.880B	18.919B	14.786B	9.114B	4.328B	1.908B
Cost of Goods Sold	26.991B	21.078B	12.919B	4.559B	4.992B	2.953B	910.249M	422.423M
Gross Profit	34.746B	32.862B	21.961B	14.360B	9.794B	6.161B	3.418B	1.485B
Gross Profit Margin	56.3%	60.9%	63.0%	75.9%	66.2%	67.6%	79.0%	77.9%
Total Operating Expenses	21.436B	18.012B	13.693B	9.954B	8.709B	7.598B	4.644B	3.056B
Research & Development	2.358B	1.734B	1.543B	1.505B	1.415B	1.056B	555.783M	162.275M
Selling, General & Administrative	19.077B	16.278B	12.150B	8.450B	7.293B	6.542B	4.088B	2.893B
Operating Income (EBIT)	13.310B	14.850B	8.268B	4.406B	1.085B	-1.437B	-1.226B	-1.570B
Operating Margin	21.6%	27.5%	23.7%	23.3%	7.3%	-15.8%	-28.3%	-82.3%
Income Before Tax (EBT)	17.094B	18.175B	10.124B	5.255B	1.527B	-1.100B	-1.001B	-1.486B
Interest Income	3.657B	2.815B	1.442B	579.220M	481.844M	376.162M	221.406M	85.050M
Interest Expense	—	—	6.196M	7.485M	193.735M	116.024M	20.945M	—
Other Income/Expense	3.785B	3.325B	1.856B	849.435M	441.528M	337.129M	225.539M	84.712M
Net Income	13.988B	15.399B	8.455B	4.570B	1.223B	-1.100B	-1.001B	-1.486B
Income Tax Expense	3.107B	2.776B	1.669B	684.796M	304.308M	0.00	0.00	0.00
Net Profit Margin	22.7%	28.5%	24.2%	24.2%	8.3%	-12.1%	-23.1%	-77.9%
EBITDA	17.505B	18.272B	10.241B	5.585B	1.956B	-1.337B	-1.134B	-632.348M
EBITDA Margin	28.4%	33.9%	29.4%	29.5%	13.2%	-14.7%	-26.2%	-33.1%
Depreciation & Amortization	428.932M	97.072M	110.741M	322.304M	235.343M	99.813M	91.593M	72.264M
EPS Basic	9.89	11.13	6.24	3.62	0.98	-0.93	-0.87	-2.02
EPS Diluted	9.33	10.41	5.79	3.18	0.86	-0.93	-0.87	-2.02
Shares Outstanding	1.398B	1.384B	1.354B	1.264B	1.253B	1.189B	1.154B	741.904M
Diluted Shares Outstanding	1.482B	1.479B	1.460B	1.440B	1.428B	1.192B	1.157B	742.080M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About PDD Holdings Inc.

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.

Dublin

23,465 employees

www.pddholdings.com

Consumer Cyclical / Software - Services

Sector: Consumer Cyclical
Industry: Software - Services
CEO: Lei Chen

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