PDD Holdings Inc.
Profit after direct costs
Core business profitability
Bottom line profitability
Top line growth rate
Flow of revenue through cost categories to net income
| Item | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | YoY Change |
|---|---|---|---|---|---|---|---|
Total Revenue | 93.95B | 130.56B | 247.64B | 393.84B | 431.85B | 9.7% | |
| Cost of Revenue | (31.72B) | (31.46B) | (91.72B) | (153.90B) | (188.80B) | 22.7% | |
Gross Profit | 62.23B | 99.10B | 155.92B | 239.94B | 243.04B | 1.3% | |
| Operating Expenses | |||||||
| Research & Development | (8.99B) | (10.38B) | (10.95B) | (12.66B) | (16.50B) | 30.3% | |
| Selling, General & Administrative | (46.34B) | (58.31B) | (86.26B) | (118.85B) | (133.45B) | 12.3% | |
| General & Administrative | (1.54B) | (3.96B) | (4.08B) | (7.55B) | (8.16B) | 8.0% | |
| Selling & Marketing | (44.80B) | (54.34B) | (82.19B) | (111.30B) | (125.29B) | 12.6% | |
| Depreciation & Amortization | (1.50B) | (2.22B) | (786.24M) | (708.76M) | (3.00B) | 323.3% | |
Operating Income (EBIT) | 6.90B | 30.40B | 58.70B | 108.42B | 93.10B | -14.1% | |
| Non-Operating Items | |||||||
| Interest Income | 3.06B | 4.00B | 10.24B | 20.55B | 25.58B | 24.5% | |
| Interest Expense | (1.23B) | (51.66M) | (43.99M) | — | — | — | |
| Other Income/Expenses (Net) | 2.81B | 5.86B | 13.18B | 24.28B | 26.47B | 9.0% | |
Income Before Tax | 9.70B | 36.26B | 71.88B | 132.70B | 119.58B | -9.9% | |
| Income Tax Expense | (1.93B) | (4.73B) | (11.85B) | (20.27B) | (21.73B) | 7.2% | |
Net Income | 7.77B | 31.54B | 60.03B | 112.43B | 97.84B | -13.0% | |
| Per Share Metrics | |||||||
| Earnings Per Share (Basic) | $6 | $25 | $44 | $81 | $69 | -14.9% | |
| Weighted Avg Shares Outstanding | 1.25B | 1.26B | 1.35B | 1.38B | 1.40B | 1.0% | |
| Weighted Avg Shares Outstanding (Diluted) | 1.43B | 1.44B | 1.46B | 1.48B | 1.48B | 0.2% | |
EBITDA | 12.43B | 38.54B | 72.71B | 133.41B | 122.45B | -8.2% |
Explore PDD
PDD in the Consumer Cyclical
Large Cap