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PDD Holdings Inc.

Income Statement - PDD Holdings Inc. (PDD)

$(Billion, Million)
Dec-25 Dec-24 Dec-23 Dec-22 Dec-21 Dec-20 Dec-19 Dec-18 Dec-17 Dec-16
Total revenue 431.85 393.84 247.64 130.56 93.95 59.49 30.14 13.12 1.74 0.50
Cost of revenue 188.80 153.90 91.72 31.46 31.72 19.28 6.34 2.91 0.72 0.58
Gross profit 243.04 239.94 155.92 99.10 62.23 40.21 23.80 10.21 1.02 -0.07
Total operating expenses + 149.94 131.51 97.22 68.69 55.34 49.59 32.34 21.01 1.62 0.21
Operating income 93.10 108.42 58.70 30.40 6.90 -9.38 -8.54 -10.80 -0.60 -0.29
Non-operating income (net) 26.47 24.28 13.18 5.86 2.81 2.20 1.57 0.58 0.07 -0.01
Income before tax 119.58 132.70 71.88 36.26 9.70 -7.18 -6.97 -10.22 -0.53 -0.29
Income tax expense 21.73 20.27 11.85 4.73 1.93 0.07 -0.03 0.58 -0.06 0.00
Net income 97.84 112.43 60.03 31.54 7.77 -7.18 -6.97 -10.22 -0.53 -0.29
Show Quarterly Income Statement

Income Statement - PDD Holdings Inc. (PDD)

$(Billion, Million)
Mar-26 Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 Sep-24 Jun-24 Mar-24 Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 Sep-22 Jun-22 Mar-22 Dec-21 Sep-21 Jun-21 Mar-21 Dec-20 Sep-20 Jun-20 Mar-20 Dec-19 Sep-19 Jun-19 Mar-19 Dec-18 Sep-18 Jun-18 Mar-18 Dec-17 Sep-17 Jun-17 Mar-17 Dec-16
Total revenue 105.59 122.20 108.28 103.98 95.67 110.61 99.35 97.06 86.81 86.81 68.84 52.28 37.64 39.82 35.50 31.44 23.79 27.23 21.51 23.05 22.17 26.55 14.21 12.19 6.54 10.79 7.51 7.29 4.55 5.65 3.37 2.71 1.38 1.18 0.42 0.10 0.04 0.07
Cost of revenue 46.61 54.39 46.84 45.86 40.95 47.80 39.71 33.70 32.69 32.69 26.83 18.69 11.13 8.93 7.41 7.96 7.16 6.52 6.56 7.90 10.75 11.53 3.26 2.66 1.83 2.04 1.83 1.59 0.87 1.42 0.77 0.39 0.32 0.37 0.19 0.11 0.05 0.08
Gross profit 58.98 67.81 61.44 58.13 54.73 62.81 59.65 63.36 54.12 54.12 42.01 33.59 26.51 30.89 28.09 23.48 16.63 20.72 14.95 15.15 11.42 15.02 10.95 9.53 4.71 8.76 5.68 5.70 3.67 4.23 2.60 2.32 1.07 0.81 0.24 0.00 -0.02 -0.07
Total operating expenses + 37.96 40.47 36.41 32.33 38.64 37.22 35.35 30.80 28.14 28.14 25.35 20.87 19.58 21.78 17.65 14.78 14.48 13.81 12.81 13.15 15.57 17.07 12.25 11.17 9.11 10.89 8.47 7.19 5.79 6.87 3.87 8.96 1.32 0.83 0.47 0.12 0.20 0.79
Operating income 21.02 27.34 25.03 25.79 16.09 25.59 24.29 32.56 25.97 25.97 16.66 12.72 6.93 9.11 10.44 8.70 2.15 6.91 2.14 2.00 -4.15 -2.05 -1.30 -1.64 -4.40 -2.14 -2.79 -1.49 -2.12 -2.64 -1.27 -6.64 -0.25 -0.02 -0.23 -0.12 -0.22 -0.29
Non-operating income (net) -4.46 5.19 8.29 9.74 3.14 6.94 4.89 5.36 7.09 7.14 2.39 3.55 2.77 1.41 1.69 1.76 1.01 0.79 0.36 0.42 1.24 0.62 0.51 0.74 0.28 0.35 0.46 0.49 0.24 0.22 0.17 0.14 0.05 0.04 0.01 0.01 0.01 -0.01
Income before tax 16.56 32.53 33.31 35.54 19.22 32.53 29.18 37.92 33.07 33.12 19.05 16.27 9.70 10.52 12.13 10.45 3.16 7.70 2.49 2.41 -2.91 -1.42 -0.78 -0.90 -4.12 -1.79 -2.34 -1.00 -1.88 -2.42 -1.10 -6.49 -0.20 0.01 -0.22 -0.11 -0.21 -0.29
Income tax expense 4.09 8.33 3.99 4.78 4.48 5.08 4.20 5.91 5.07 5.07 3.51 3.16 1.60 1.07 1.54 1.56 0.56 1.08 0.85 -0.25 -0.78 0.04 -0.36 -0.68 -0.31 -0.01 -0.40 -0.40 -0.25 -0.19 -0.16 -0.14 -0.05 -0.05 -0.02 -0.01 -0.01 0.00
Net income 12.47 24.20 29.33 30.75 14.74 27.45 24.98 32.01 28.00 28.00 15.54 13.11 8.10 9.45 10.59 8.90 2.60 6.62 1.64 2.41 -2.91 -1.38 -0.78 -0.90 -4.12 -1.75 -2.34 -1.00 -1.88 -2.42 -1.10 -6.49 -0.20 0.01 -0.22 -0.11 -0.21 -0.29
about 2 hours ago
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Balance Sheet - PDD Holdings Inc. (PDD)

$ (Billion, Million)
Dec-25 Dec-24 Dec-23 Dec-22 Dec-21 Dec-20 Dec-19 Dec-18 Dec-17 Dec-16
Total cash and short-term investments + 496.46 331.56 217.21 149.44 92.94 86.97 41.06 21.79 3.11 1.61
Accounts receivable, net 15.32 11.25 7.43 3.35 3.48 3.91 3.42 1.27 0.59 0.11
Inventories 2.50 -0.12 -6.91 0.01 1.72 27.58 16.38 9.43 0.03
Other current assets 7.53 72.84 70.23 63.83 64.47 56.93 0.95 0.95 0.01 0.00
Total current assets 519.31 415.65 294.75 216.62 160.91 149.52 73.00 40.39 13.14 1.75
Total non-current assets + 111.14 89.39 53.33 20.50 20.30 9.38 3.06 2.79 0.18 0.02
Total assets 630.45 505.03 348.08 237.12 181.21 158.91 76.06 43.18 13.31 1.77
Total current liabilities + 212.35 188.42 152.90 116.89 93.73 83.88 45.77 24.36 12.11 1.41
Total non-current liabilities + 2.92 3.30 7.94 2.46 12.37 14.85 5.64 0.00 0.00 0.00
Total liabilities 215.27 191.72 160.84 119.35 106.10 98.73 51.41 24.36 12.11 1.41
Total stockholders' equity + 415.17 313.31 187.24 117.77 75.11 60.18 24.65 18.82 1.20 0.36
Common shares outstanding 1,482 1,479 1,460 1,440 1,428 1,192 4,627 2,968 3,442 3,442
Show Quarterly Balance Sheet

Balance Sheet - PDD Holdings Inc. (PDD)

$ (Billion, Million)
Mar-26 Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 Sep-24 Jun-24 Mar-24 Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 Sep-22 Jun-22 Mar-22 Dec-21 Sep-21 Jun-21 Mar-21 Dec-20 Sep-20 Jun-20 Mar-20 Dec-19 Sep-19 Jun-19 Mar-19 Dec-18 Sep-18 Jun-18 Mar-18 Dec-17 Sep-17 Jun-17 Mar-17 Dec-16
Total cash and short-term investments + 510.37 496.46 423.77 387.13 364.50 331.56 308.46 284.93 217.21 242.13 202.85 179.51 149.44 157.03 137.81 119.38 92.94 95.22 97.92 92.18 86.97 86.97 45.57 49.01 41.06 41.06 40.25 31.79 21.79 21.79 22.47 10.33 9.48 3.11 0.00 0.00 1.61 0.23
Accounts receivable, net 15.47 15.32 15.15 6.01 12.89 11.25 13.92 11.48 7.43 11.74 8.69 6.66 6.91 5.59 5.16 4.73 4.92 4.19 4.56 4.33 4.97 4.97 4.65 2.86 3.42 3.42 1.78 1.50 1.27 1.27 0.82 0.68 0.69 0.59 0.11
Inventories 1.60 0.00 59.11 56.41 52.06 -6.91 50.90 43.67 0.01 0.01 51.23 48.21 1.72 1.72 0.35 32.47 27.58 27.58 18.67 16.81 16.38 16.38 10.17 8.79 8.20 9.43
Other current assets 8.71 7.53 77.44 82.90 70.39 72.84 64.45 63.32 70.11 62.60 60.04 2.99 67.18 2.29 50.60 7.66 3.42 46.76 3.38 2.85 5.16 5.16 0.08 1.25 0.95 0.95 0.88 1.21 0.95 0.95 0.78 0.67 0.01 0.01 0.00
Total current assets 534.55 519.31 516.36 476.04 447.77 415.65 386.83 359.73 294.75 316.47 271.58 241.21 216.62 215.81 193.57 175.45 160.91 146.16 157.09 147.57 149.52 149.52 90.17 85.58 73.00 73.00 61.59 51.31 40.39 40.39 34.24 20.47 18.38 13.14 1.61 1.75
Total non-current assets + 100.77 111.14 97.36 91.11 82.74 89.39 79.96 73.02 53.33 61.36 42.68 33.08 20.50 24.26 15.54 16.55 20.30 22.55 9.44 9.17 9.38 9.38 9.24 5.32 3.06 3.06 2.99 3.06 2.79 2.79 2.76 2.80 2.96 0.18 -1.61
Total assets 635.32 630.45 613.72 567.16 530.51 505.03 466.79 432.74 348.08 377.83 314.25 274.29 237.12 240.07 209.11 192.00 181.21 168.72 166.53 156.74 158.91 158.91 99.41 90.90 76.06 76.06 64.58 54.36 43.18 43.18 37.00 23.27 21.35 13.31 0.26
Total current liabilities + 210.85 212.35 219.22 201.96 197.02 188.42 180.00 170.83 152.90 151.40 148.12 125.99 116.89 111.02 85.43 85.71 93.73 77.52 86.30 80.07 83.88 83.88 65.08 55.39 45.77 45.77 33.22 29.00 24.36 24.36 16.24 13.88 11.75 12.11 0.20
Total non-current liabilities + 2.63 2.92 3.10 3.33 3.79 3.30 8.29 7.93 7.94 7.72 4.08 2.95 2.46 2.53 16.55 15.38 12.37 14.54 12.12 11.77 14.85 14.85 5.93 6.02 5.64 5.64 5.40 0.26 0.17 0.00 0.00 0.00 -0.36
Total liabilities 213.48 215.27 222.32 205.29 200.81 191.72 188.29 178.77 160.84 159.12 152.20 128.94 119.35 113.56 101.98 101.09 106.10 92.07 98.42 91.84 98.73 98.73 71.01 61.41 51.41 51.41 38.62 29.25 24.36 24.36 16.24 13.88 11.75 12.11 -0.36 0.20
Total stockholders' equity + 421.85 415.17 391.40 361.86 329.70 313.31 278.50 253.98 187.24 218.71 162.05 145.34 117.77 126.51 107.13 90.91 75.11 76.65 68.11 64.90 60.18 60.18 28.40 29.49 24.65 24.65 25.96 25.11 18.82 18.82 20.76 9.39 9.59 1.20 -0.43 0.05
Common shares outstanding 1,480 1,487 1,488 1,482 1,483 1,481 1,182 1,185 1,177 1,181 1,173 1,167 1,162 1,170 1,155 1,143 1,137 1,138 1,141 1,144 971 971 957 956 930 930 930 930 891 891 736 886 688 688 688 688 688 688
about 2 hours ago
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Dec-25 Dec-24 Dec-23 Dec-22 Dec-21 Dec-20 Dec-19 Dec-18 Dec-17 Dec-16
Operating cash flow + 106.94 121.93 94.16 7.03 28.78 28.20 14.82 7.77 0.32 0.88
Cash flow from investing + -43.42 -118.36 -55.43 -3.24 -35.56 -38.36 -28.32 -7.55 0.07 -0.31
Cash flow from financing + -5.23 0.00 -8.96 0.01 -1.88 51.80 15.85 17.34 1.40 0.49
Change in cash 58.29 3.57 29.77 3.80 -8.65 41.64 2.36 17.56 1.79 1.06
Change in exchange rate 0.00 0.00 0.00 0.00
Show Quarterly Cash Flow
Mar-26 Dec-25 Sep-25 Jun-25 Mar-25 Dec-24 Sep-24 Jun-24 Mar-24 Dec-23 Sep-23 Jun-23 Mar-23 Dec-22 Sep-22 Jun-22 Mar-22 Dec-21 Sep-21 Jun-21 Mar-21 Dec-20 Sep-20 Jun-20 Mar-20 Dec-19 Sep-19 Jun-19 Mar-19 Dec-18 Sep-18 Jun-18 Mar-18 Dec-17 Sep-17 Jun-17 Mar-17 Dec-16
Operating cash flow + 24.12 24.12 45.66 21.64 15.52 29.55 27.52 43.79 21.07 21.07 32.54 23.40 1.34 3.85 11.65 19.37 -9.07 16.40 8.74 7.37 -3.72 14.95 8.32 5.50 -0.57 9.60 2.62 4.15 -1.54 5.73 0.25 0.36 0.63 -0.68 -0.68 1.28 0.39 0.13
Cash flow from investing + 1.54 1.54 -11.56 -27.02 -6.38 -16.90 -42.62 -28.29 -4.82 -11.52 -22.62 -1.24 -0.36 -8.59 -4.85 -12.69 -13.76 -3.48 -5.62 -26.62 -0.50 -9.70 -1.58 -11.46 -16.18 -1.14 0.46 0.00 -6.22 -0.29 -0.80 -0.01 -0.20 0.70 -0.42 -0.31
Cash flow from financing + -5.23 -5.23 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.01 0.00 0.00 0.00 0.00 0.00 -0.64 -1.24 42.17 0.05 8.42 1.21 0.89 6.97 -0.05 7.99 -0.01 11.54 0.00 5.82 0.00 -0.01 0.65 0.77 0.07
Change in cash 20.43 20.43 34.11 -5.38 9.13 29.55 10.62 1.17 -7.22 21.07 27.72 11.88 -21.28 2.62 11.30 10.78 -13.92 3.71 -5.03 3.25 -10.58 30.50 7.87 4.22 -0.95 -0.97 -6.59 2.96 6.91 5.72 5.57 0.07 5.65 -0.69 -0.90 2.63 0.74 -0.11
Change in exchange rate 0.00 0.00 0.00 0.00 0.00 0.00 0.00
about 2 hours ago
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