PDD Holdings (PDD) financials
PDD Holdings revenue and earnings by year
PDD Holdings's revenue was $61.7 billion in the fiscal year to December 31, 2025, up 14.4% from the year before. Net income was $14.0 billion, 22.7% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 111.4% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 61.7 | 54.0 | 34.8 | 18.8 | 14.7 | 9.1 | 4.3 | 1.9 | 0.3 | 0.1 |
| Revenue growth | 14.4% | 54.9% | 85.8% | 27.2% | 61.6% | 111.4% | 126.2% | 614.5% | 264.9% | — |
| Gross profit | 34.7 | 32.9 | 21.9 | 14.2 | 9.8 | 6.2 | 3.4 | 1.5 | 0.2 | -0.0 |
| Gross margin | 56.3% | 60.9% | 63.0% | 75.9% | 66.2% | 67.6% | 79.0% | 77.9% | 58.6% | -14.5% |
| Operating income | 13.3 | 14.9 | 8.3 | 4.4 | 1.1 | -1.4 | -1.2 | -1.6 | -0.1 | -0.0 |
| Operating margin | 21.6% | 27.5% | 23.7% | 23.3% | 7.3% | -15.8% | -28.3% | -82.3% | -33.6% | -56.7% |
| Net income | 14.0 | 15.4 | 8.4 | 4.5 | 1.2 | -1.1 | -1.0 | -1.5 | -0.1 | -0.0 |
| Net margin | 22.7% | 28.5% | 24.2% | 24.2% | 8.3% | -12.1% | -23.1% | -77.9% | -30.1% | -57.8% |
| Free cash flow | 15.1 | 16.6 | 13.2 | 6.9 | 4.0 | 4.3 | 2.1 | 1.1 | 1.5 | 0.1 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open PDD in Markets.
See also: PDD valuation and P/E history · PDD returns
No forecast, no recommendation. This page describes PDD Holdings from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.