NASDAQ · PDD
PDD Holdings financials
$77.50−1.26%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $61.72B | $53.96B | $34.98B | $18.93B | $14.74B | $59.49B | $30.14B | $13.12B |
| Gross profit | $34.74B | $32.87B | $22.03B | $14.37B | $9.77B | $40.21B | $23.80B | $10.21B |
| Gross margin | 56.3% | 60.9% | 63.0% | 75.9% | 66.2% | 67.6% | 79.0% | 77.9% |
| Operating income | $13.31B | $14.85B | $8.29B | $4.41B | $1.08B | -$9.38B | -$8.54B | -$10.80B |
| Net income | $13.98B | $15.40B | $8.48B | $4.57B | $1.22B | -$7.18B | -$6.97B | -$10.30B |
| Net margin | 22.7% | 28.5% | 24.2% | 24.2% | 8.3% | −12.1% | −23.1% | −78.5% |
| Diluted EPS | $2.36 | $2.60 | $1.45 | $0.79 | $0.21 | $-1.51 | $-1.51 | $-3.47 |
| EBITDA | $13.39B | $14.95B | $8.40B | $4.73B | $1.32B | -$8.73B | -$7.90B | -$10.30B |
| Operating cash flow | $15.28B | $16.70B | $13.30B | $7.03B | $4.52B | $28.20B | $14.82B | $7.77B |
| Free cash flow | $15.12B | $16.57B | $13.22B | $6.94B | $4.00B | $28.15B | $14.79B | $7.74B |
| Diluted shares | 5,929.6M | 5,916.6M | 5,839.6M | 5,761.3M | 5,713.8M | 4,768.3M | 4,627.3M | 2,968.3M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $15.57B | $7.91B | $8.45B | $4.98B | $1.01B | $22.42B |
| Short-term investments | $44.80B | $37.51B | $22.24B | $16.69B | $13.58B | $64.55B |
| Total debt | $0.00 | $727.4M | $830.7M | $11.42B | $11.66B | $70.13B |
| Total assets | $90.05B | $69.19B | $49.17B | $34.38B | $28.44B | $158.91B |
| Total liabilities | $30.97B | $26.27B | $22.72B | $17.30B | $16.65B | $98.73B |
| Shareholders' equity | $59.09B | $42.92B | $26.45B | $17.08B | $11.79B | $60.18B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology