MARKETS / NASDAQ / PDD
NASDAQ · SERVICES-BUSINESS SERVICES, NEC · LARGE CAP

PDD Holdings Inc. PDD

10 fiscal years on record · CNY · FY2025 reported
SEC FILINGS ONLY
Revenue · FY2025
¥431.8B
▲ 9.7% vs FY2024
EPS · FY25
Dividend / sh · FY25
Payout · FY25
ROE · FY25
26.9%
Net margin · FY25
22.7%
Dividend coverage
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Result
CNY 431.8B
Revenue, FY2025 · full 10-year series below
Revenue Net income
200400600431.897.82016201920222025
200400600431.897.82016201920222025

23 cents of every revenue dollar became profit this year.

Per share
Diluted EPS, FY2025
EPS
0.40.81.22016201920222025
0.40.81.22016201920222025

The company pays no cash dividend.

Profitability
26.9%
Return on equity, FY2025
ROE
20406026.9%2016201920222025
20406026.9%2016201920222025
Operating margin21.6%
Net margin22.7%
Return on assets17.2%

Each CNY of equity produced 27 cents of profit this year.

Returned to shareholders
returned in FY2025 · dividends + net buybacks
Dividends paid
Net buybacks
Share of profit
Consecutive raises

Growth
+48.7% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+49.0%
+48.7%
Net income
+45.8%
EPS, diluted
+44.4%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
Shares outstanding, FY2025
Change, 5 years+23.5%
Change, 10 years

The share count grew 24% in five years — the same company, cut into more, smaller slices.

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Balance sheet
CNY 630.0B
total assets, end of FY2025
Total assetsCNY 630.0B
EquityCNY 413.4B
CashCNY 108.9B
Current ratio2.43×

Equity funds 66% of total assets.

History
10 fiscal years
Every figure from documents filed with the SEC · CNY
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue ¥B
431.8
393.8
247.6
130.6
93.9
59.5
30.1
13.1
1.7
0.5
Operating income ¥B
93.1
108.4
58.7
30.4
6.9
−9.4
−8.5
−10.8
−0.6
−0.3
EBITDA ¥B
93.7
109.1
59.4
32.0
7.8
−9.4
−8.5
−10.8
−0.6
−0.3
Income tax ¥B
21.7
20.3
11.8
4.7
1.9
0.0
0.0
0.0
·
·
Net income ¥B
97.8
112.4
60.0
31.5
7.8
−7.2
−7.0
−10.2
−0.5
−0.3
EPS, diluted ¥
·
·
·
·
·
·
·
·
·
·
Dividend / sh ¥
·
·
·
·
·
·
·
·
·
·
Payout %
·
·
·
·
·
·
·
·
·
·
ROE %
26.9
44.9
39.4
32.7
11.5
−16.9
−32.1
−114.6
·
·
Shares out B
·
·
·
·
·
·
·
·
·
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
35 of 35
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 0 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed