Operating Margin: 19.91%
Is the operating margin high or low?
The operating margin of 19.91% is in line with its 5-year average of 20.15%, near the high end of its 5-year range (-18.71%–33.55%).
As of Friday, June 26, 2026. 5.91% below its 12-month average of 21.16%.
PDD Operating Margin
Reported quarterly operating margin; no daily interpolation.
PDD Average Operating Margin Chart
PDD Current vs Average Operating Margin Chart
PDD Operating Margin Metrics
OPERATING MARGIN
19.91%
OPERATING MARGIN AVG TTM
21.16%
OPERATING MARGIN AVG 3Y
22.95%
OPERATING MARGIN AVG 5Y
22.10%
OPERATING MARGIN AVG 10Y
N/A
OPERATING MARGIN AVG 15Y
N/A
OPERATING MARGIN AVG 20Y
N/A
CURRENT VS TTM AVG
-5.91%
CURRENT VS 3Y AVG
-13.27%
CURRENT VS 5Y AVG
-9.92%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
PDD Competitors' Operating Margin
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| PDD Holdings Inc. (PDD) | $104.33B | 19.91% | 21.16% | 22.95% | 22.10% |
| Marriott International, Inc. (MAR)vs › | $99.91B | 16.02% | 15.41% | 15.95% | 12.87% |
| Starbucks Corporation (SBUX)vs › | $117.57B | 9.28% | 12.29% | 13.81% | 13.10% |
| BYD Company Limited (BYDDY)vs › | $87.85B | 3.87% | 4.67% | 5.19% | 4.57% |
| Royal Caribbean Cruises Ltd. (RCL)vs › | $86.53B | 27.88% | 26.14% | 16.08% | -66.10% |
| Lowe's Companies, Inc. (LOW)vs › | $124.44B | 11.55% | 11.93% | 12.56% | 12.52% |
| Airbnb, Inc. (ABNB)vs › | $84.21B | 20.49% | 21.89% | 20.13% | -3.09% |
| MercadoLibre, Inc. (MELI)vs › | $82.09B | 9.59% | 11.87% | 12.07% | 9.62% |
| Hilton Worldwide Holdings Inc. (HLT)vs › | $77.53B | 23.08% | 21.79% | 22.30% | 16.16% |
| Carvana Co. (CVNA)vs › | $72.62B | 9.19% | 8.29% | 1.23% | -0.31% |
Operating Efficiency
Gross Margin
56.0%
Operating Margin
19.9%
Operating Margin Formula & Definition
Operating Margin = Operating Income / Revenue
Operating margin is the percentage of revenue remaining after operating expenses, reflecting operating efficiency.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
Operating Margin FAQ
- What is the operating margin for PDD Holdings Inc. (PDD)?
- The operating margin for PDD stock is 19.91%.
- Is PDD Holdings Inc.'s operating margin high or low?
- The operating margin of 19.91% is in line with its 5-year average of 20.15%, near the high end of its 5-year range (-18.71%–33.55%).
- What is the TTM average operating margin for PDD Holdings Inc. (PDD)?
- The TTM average operating margin for PDD stock is 21.16%.
- What is the 3Y average operating margin for PDD Holdings Inc. (PDD)?
- The 3Y average operating margin for PDD stock is 22.95%.
- What is the 5Y average operating margin for PDD Holdings Inc. (PDD)?
- The 5Y average operating margin for PDD stock is 22.10%.
PDD Operating Margin History
| DATE | OPERATING MARGIN |
|---|---|
| 2026-03-31 | 19.91% |
| 2025-12-31 | 21.14% |
| 2025-09-30 | 23.11% |
| 2025-06-30 | 24.80% |
| 2025-03-31 | 16.81% |
| 2024-12-31 | 23.14% |
| 2024-09-30 | 24.45% |
| 2024-06-30 | 33.55% |
| 2024-03-31 | 29.92% |
| 2023-12-31 | 25.20% |
| 2023-09-30 | 24.20% |
| 2023-06-30 | 24.33% |
| 2023-03-31 | 18.41% |
| 2022-12-31 | 22.89% |
| 2022-09-30 | 29.40% |
| 2022-06-30 | 27.66% |
| 2022-03-31 | 9.05% |
| 2021-12-31 | 25.36% |
| 2021-09-30 | 9.95% |
| 2021-06-30 | 8.67% |
| 2021-03-31 | -18.71% |
| 2020-12-31 | -7.71% |
| 2020-09-30 | -9.12% |
| 2020-06-30 | -13.45% |
| 2020-03-31 | -67.23% |
| 2019-12-31 | -19.78% |
| 2019-09-30 | -37.16% |
| 2019-06-30 | -20.44% |
| 2019-03-31 | -46.65% |
| 2018-12-31 | -46.71% |
| 2018-09-30 | -37.64% |
| 2018-06-30 | -244.97% |
| 2018-03-31 | -18.07% |
| 2017-12-31 | -1.93% |
| 2017-09-30 | -55.40% |
| 2017-06-30 | -117.32% |
| 2017-03-31 | -583.24% |
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.
- Sector
- Consumer Cyclical
- Industry
- Software - Services
- CEO
- Lei Chen