PDD Holdings Inc. logo
PDDPDD Holdings Inc.

Free Cash Flow CAGR:-10.48%(TTM)

Over longer horizons, Free Cash Flow CAGR averages 61.49% over 3 years and 28.98% over 5 years.The TTM figure compares the trailing 12 months (sum of the latest four quarters) with the 12 months before that. Rows in the history table compare fiscal years, and the quarterly table compares single quarters; the three measure different windows and will differ. Free cash flow CAGR measures how the company's cash generation has grown. FCF represents the cash available for dividends, buybacks, debt reduction, or reinvestment.

PDD Free Cash Flow CAGR Chart

PDD Holdings Inc. (PDD)

PDD Quarterly Free Cash Flow Growth (YoY)

Free Cash Flow growth vs the same quarter one year earlier, last 20 quarters.

PDD Free Cash Flow CAGR History

YearStart FCFEnd FCFChange% ChangeCAGR
2025$16.57B$15.12B$-1.44B-8.71%-8.71%
2024$13.18B$16.57B+$3.39B+25.69%+25.69%
2023$927.03M$13.18B+$12.25B+1321.81%+1321.81%
2022$4.01B$927.03M$-3.09B-76.90%-76.90%
2021$4.31B$4.01B$-300.60M-6.97%-6.97%
2020$2.12B$4.31B+$2.19B+103.03%+103.03%
2019$1.13B$2.12B+$998.87M+88.75%+88.75%
2018$47.09M$1.13B+$1.08B+2290.20%+2290.20%
2017$126.36M$47.09M$-79.27M-62.73%-62.73%

Quarterly Free Cash Flow: QoQ & YoY

QuarterValueQoQYoY
Q4 2025$3.45B-46.2%-11.9%
Q3 2025$6.41B+112.3%+63.5%
Q2 2025$3.02B+41.3%-49.9%
Q1 2025$2.14B-45.4%-26.7%
Q4 2024$3.91B-0.2%-23.5%
Q3 2024$3.92B-34.9%-12.0%
Q2 2024$6.02B+106.6%+86.8%
Q1 2024$2.92B-43.0%+1397.4%
Q4 2023$5.11B+14.8%+998.1%
Q3 2023$4.46B+38.1%+172.1%
Q2 2023$3.23B+1555.9%+11.6%
Q1 2023$194.78M-58.2%
Q4 2022$465.70M-71.6%-81.9%
Q3 2022$1.64B-43.4%+20.9%
Q2 2022$2.89B+153.3%
Q1 2022-$1.43B-151.6%

QoQ = change vs the prior quarter; YoY = change vs the same quarter a year earlier.

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