PDD Holdings Inc. (PDD)PDDPDD Holdings Inc.

Cash Flow Statement

Operating, investing, and financing cash flow analysis

Quarterly Cash Flow 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
Cash from Operations (CFO)	—	—	3.448B	6.412B	3.020B	2.138B	4.047B	3.921B	6.024B
Net Income	13.508B	1.807B	3.291B	4.119B	4.292B	2.031B	3.759B	3.559B	4.403B
Depreciation & Amortization	24.727M	0.00	0.00	0.00	24.727M	24.410M	24.268M	28.002M	27.039M
Stock-Based Compensation	—	—	250.812M	288.376M	272.805M	299.509M	329.287M	353.017M	333.275M
Change in Accounts Receivable	3.243B	831.390M	730.866M	842.364M	838.347M	754.246M	503.918M	1.983B	1.579B
Change in Inventory	—	—	—	—	—	—	—	—	—
Change in Accounts Payable	—	—	—	—	—	—	—	—	—
Change in Working Capital	—	—	0.00	0.00	0.00	0.00	-1.510B	0.00	0.00
Cash from Investing	—	—	—	—	—	—	—	—	—
Capital Expenditures (CapEx)	—	—	0.00	0.00	0.00	0.00	-132.459M	0.00	0.00
Acquisitions	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash from Financing	—	—	—	—	—	—	—	—	—
Debt Repayment	—	—	—	—	—	—	—	—	—
Stock Repurchased (Buybacks)	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividends Paid	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Free Cash Flow (FCF)	—	—	3.448B	6.412B	3.020B	2.138B	3.914B	3.921B	6.024B
Net Change in Cash	—	—	2.765B	4.703B	-747.710M	1.249B	69.292M	1.364B	194.236M

Annual Cash Flow 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
Cash from Operations (CFO)	15.288B	16.699B	13.263B	1.019B	4.530B	4.320B	2.128B	1.129B
Net Income	13.988B	15.399B	8.455B	4.570B	1.223B	-1.100B	-1.001B	-1.486B
Depreciation & Amortization	428.932M	97.072M	110.741M	322.304M	235.343M	99.813M	91.593M	72.264M
Stock-Based Compensation	1.135B	1.354B	997.048M	1.118B	751.447M	553.518M	367.287M	994.765M
Change in Accounts Receivable	730.866M	503.918M	1.047B	485.683M	547.211M	598.565M	424.592M	184.156M
Change in Inventory	—	—	—	—	—	—	—	—
Change in Accounts Payable	—	—	—	—	—	—	—	—
Change in Working Capital	1.053B	912.618M	3.726B	1.076B	2.134B	4.757B	2.672B	1.559B
Cash from Investing	—	—	—	—	—	—	—	—
Capital Expenditures (CapEx)	-163.700M	-132.459M	-82.239M	-92.122M	-517.345M	-6.595M	-3.940M	-3.974M
Acquisitions	0.00	0.00	0.00	0.00	62K	8K	68K	6K
Cash from Financing	—	—	—	—	—	—	—	—
Debt Repayment	—	—	—	—	—	—	—	—
Stock Repurchased (Buybacks)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividends Paid	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Free Cash Flow (FCF)	15.124B	16.567B	13.181B	927.027M	4.013B	4.313B	2.124B	1.125B
Net Change in Cash	8.083B	604.612M	4.152B	551.647M	-1.385B	6.357B	402.966M	2.633B

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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