PDD Holdings Balance Sheet Health
Financial Health criteria checks 6/6
PDD Holdings has a total shareholder equity of CN¥414.9B and total debt of CN¥0.0, which brings its debt-to-equity ratio to 0%. Its total assets and total liabilities are CN¥630.0B and CN¥215.1B respectively. PDD Holdings's EBIT is CN¥94.6B making its interest coverage ratio -3.7. It has cash and short-term investments of CN¥422.3B.
Key information
0%
Debt to equity ratio
CN¥0
Debt
| Interest coverage ratio | -3.7x |
| Cash | CN¥422.31b |
| Equity | CN¥414.91b |
| Total liabilities | CN¥215.14b |
| Total assets | CN¥630.04b |
Recent financial health updates
Recent updates
PDD Holdings Inc. (PDD): The "Financial Fortress" on Shifting Sands
PDD Holdings Inc. (PDD) is currently navigating a high-stakes transition from hypergrowth to "high-quality" survival, closing the April 2, 2026, session at $100.87 USD on the NASDAQ.PDD Q4 Earnings Miss: I Warned You About The End Of Their Hypergrowth
Mar 25With EPS Growth And More, PDD Holdings (NASDAQ:PDD) Makes An Interesting Case
Jul 28
Investors Shouldn't Overlook PDD Holdings' (NASDAQ:PDD) Impressive Returns On Capital
Jul 13Is PDD Holdings (NASDAQ:PDD) A Risky Investment?
Jun 28If EPS Growth Is Important To You, PDD Holdings (NASDAQ:PDD) Presents An Opportunity
Apr 28PDD Holdings: Sky-High Free Cash Flow Yield, Earnings On Tap
Mar 15PDD Holdings: Here Comes The Hard Part
Feb 25PDD's Outlook Changes With De Minimis Boom-Bust, Amazon Headwinds
Feb 07PDD Holdings will see accelerating growth with a 74% price target increase
Transaction services revenue surged 72% year-over-year, significantly outpacing expectationsPDD Holdings: Pushing Delivery Beyond Borders
Jan 07PDD Holdings: A Top E-Commerce Growth Play For 2025
Dec 31PDD Holdings: Cheap With A Christmas Catalyst (Rating Upgrade)
Dec 01
Innovative Strategies Drive Growth Amidst E-commerce Challenges And Market Expansion
Merchant support programs and cost reductions aim to drive revenue growth by enhancing innovation and expanding market reach.PDD: Near-Term Correction Doesn't Deter Our Bullish Bargain Hunt
Nov 23PDD Holdings: Strong Buy With An Outsized CAGR Likely Until 2026
Nov 16PDD Holdings: Brand Migration Driving Long-Term GMV Growth
Oct 25PDD: Shop Until You Drop
Oct 16PDD Stock: Chinese Stimulus Just Made The Bull Case Stronger
Sep 25PDD Holdings: Price Crash Could Be A Buying Opportunity
Aug 28PDD: Ready To Move Higher Post Q2 Earnings
Aug 21PDD Holdings: Looming Tariffs Likely Won't Stop Temu
Jul 16PDD: Strong Business Growth Thanks To Temu, Trading At Just 12x Earnings
Jun 22PDD: Untapped Growth Engine With Hidden Cash Potential
Jun 15PDD Holdings' Q1 Earnings: Great - With 1 Catch (Rating Downgrade)
May 22PDD Holdings: Offering High Growth, Strong Profits And Stability (SA Quant)
May 08PDD Holdings: I'm Buying This Now
Apr 08PDD Holdings: Revenues Soar But Gross Margins Continue To Collapse
Mar 30PDD Holdings: Blowout Earnings Show Stock Is Cheap Given Expected Growth
Mar 20PDD Holdings: It's Not Temu, But Macro Concerns That Encourage Caution
Feb 15PDD Holdings: The Only Survivor In China ADRs, Can Their Outperformance Last?
Jan 11Financial Position Analysis
Short Term Liabilities: PDD's short term assets (CN¥519.0B) exceed its short term liabilities (CN¥212.2B).
Long Term Liabilities: PDD's short term assets (CN¥519.0B) exceed its long term liabilities (CN¥2.9B).
Debt to Equity History and Analysis
Debt Level: PDD is debt free.
Reducing Debt: PDD has no debt compared to 5 years ago when its debt to equity ratio was 27.1%.
Debt Coverage: PDD has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: PDD has no debt, therefore coverage of interest payments is not a concern.
Balance Sheet
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/04/23 21:25 |
| End of Day Share Price | 2026/04/23 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
PDD Holdings Inc. is covered by 72 analysts. 34 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Zixiao Yang | Arete Research Services LLP |
| Xiaoguang Zhao | Barclays |
| Jiong Shao | Barclays |