PDD Holdings Inc.

NasdaqGS:PDD Stock Report

Market Cap: US$191.5b

PDD Holdings Balance Sheet Health

Financial Health criteria checks 6/6

PDD Holdings has a total shareholder equity of CN¥361.9B and total debt of CN¥5.3B, which brings its debt-to-equity ratio to 1.5%. Its total assets and total liabilities are CN¥567.2B and CN¥205.3B respectively. PDD Holdings's EBIT is CN¥91.8B making its interest coverage ratio -4.3. It has cash and short-term investments of CN¥387.1B.

Key information

1.46%

Debt to equity ratio

CN¥5.29b

Debt

Interest coverage ratio-4.3x
CashCN¥387.13b
EquityCN¥361.86b
Total liabilitiesCN¥205.29b
Total assetsCN¥567.16b

Recent financial health updates

Is PDD Holdings (NASDAQ:PDD) A Risky Investment?

Jun 28
Is PDD Holdings (NASDAQ:PDD) A Risky Investment?

Does PDD Holdings (NASDAQ:PDD) Have A Healthy Balance Sheet?

Mar 17
Does PDD Holdings (NASDAQ:PDD) Have A Healthy Balance Sheet?

PDD Holdings (NASDAQ:PDD) Could Easily Take On More Debt

Dec 04
PDD Holdings (NASDAQ:PDD) Could Easily Take On More Debt

Recent updates

PDD Holdings: A Rare Combination Of Growth, Scale, And Cost Advantage - Hold

Oct 13

With EPS Growth And More, PDD Holdings (NASDAQ:PDD) Makes An Interesting Case

Jul 28
With EPS Growth And More, PDD Holdings (NASDAQ:PDD) Makes An Interesting Case

Investors Shouldn't Overlook PDD Holdings' (NASDAQ:PDD) Impressive Returns On Capital

Jul 13
Investors Shouldn't Overlook PDD Holdings' (NASDAQ:PDD) Impressive Returns On Capital

Is PDD Holdings (NASDAQ:PDD) A Risky Investment?

Jun 28
Is PDD Holdings (NASDAQ:PDD) A Risky Investment?

If EPS Growth Is Important To You, PDD Holdings (NASDAQ:PDD) Presents An Opportunity

Apr 28
If EPS Growth Is Important To You, PDD Holdings (NASDAQ:PDD) Presents An Opportunity

Take Care Before Jumping Onto PDD Holdings Inc. (NASDAQ:PDD) Even Though It's 25% Cheaper

Apr 11
Take Care Before Jumping Onto PDD Holdings Inc. (NASDAQ:PDD) Even Though It's 25% Cheaper

Investors Should Be Encouraged By PDD Holdings' (NASDAQ:PDD) Returns On Capital

Apr 04
Investors Should Be Encouraged By PDD Holdings' (NASDAQ:PDD) Returns On Capital

Does PDD Holdings (NASDAQ:PDD) Have A Healthy Balance Sheet?

Mar 17
Does PDD Holdings (NASDAQ:PDD) Have A Healthy Balance Sheet?

PDD Holdings: Sky-High Free Cash Flow Yield, Earnings On Tap

Mar 15

PDD Holdings: Here Comes The Hard Part

Feb 25

PDD Holdings Inc. (NASDAQ:PDD) Shares Fly 26% But Investors Aren't Buying For Growth

Feb 22
PDD Holdings Inc. (NASDAQ:PDD) Shares Fly 26% But Investors Aren't Buying For Growth

PDD's Outlook Changes With De Minimis Boom-Bust, Amazon Headwinds

Feb 07

PDD Holdings will see accelerating growth with a 74% price target increase

Transaction services revenue surged 72% year-over-year, significantly outpacing expectations

Here's Why We Think PDD Holdings (NASDAQ:PDD) Might Deserve Your Attention Today

Jan 18
Here's Why We Think PDD Holdings (NASDAQ:PDD) Might Deserve Your Attention Today

PDD Holdings: Pushing Delivery Beyond Borders

Jan 07

Why The 37% Return On Capital At PDD Holdings (NASDAQ:PDD) Should Have Your Attention

Jan 03
Why The 37% Return On Capital At PDD Holdings (NASDAQ:PDD) Should Have Your Attention

PDD Holdings: A Top E-Commerce Growth Play For 2025

Dec 31

PDD Holdings (NASDAQ:PDD) Could Easily Take On More Debt

Dec 04
PDD Holdings (NASDAQ:PDD) Could Easily Take On More Debt

PDD Holdings: Cheap With A Christmas Catalyst (Rating Upgrade)

Dec 01
User avatar

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 23

PDD Holdings: Strong Buy With An Outsized CAGR Likely Until 2026

Nov 16

PDD Holdings: Brand Migration Driving Long-Term GMV Growth

Oct 25

PDD: Shop Until You Drop

Oct 16

PDD Stock: Chinese Stimulus Just Made The Bull Case Stronger

Sep 25

PDD Holdings: Price Crash Could Be A Buying Opportunity

Aug 28

PDD: Ready To Move Higher Post Q2 Earnings

Aug 21

PDD Holdings: Looming Tariffs Likely Won't Stop Temu

Jul 16

PDD: Strong Business Growth Thanks To Temu, Trading At Just 12x Earnings

Jun 22

PDD: Untapped Growth Engine With Hidden Cash Potential

Jun 15

PDD Holdings' Q1 Earnings: Great - With 1 Catch (Rating Downgrade)

May 22

PDD Holdings: Offering High Growth, Strong Profits And Stability (SA Quant)

May 08

PDD Holdings: I'm Buying This Now

Apr 08

PDD Holdings: Revenues Soar But Gross Margins Continue To Collapse

Mar 30

PDD Holdings: Blowout Earnings Show Stock Is Cheap Given Expected Growth

Mar 20

PDD Holdings: It's Not Temu, But Macro Concerns That Encourage Caution

Feb 15

PDD Holdings: The Only Survivor In China ADRs, Can Their Outperformance Last?

Jan 11

Financial Position Analysis

Short Term Liabilities: PDD's short term assets (CN¥476.0B) exceed its short term liabilities (CN¥202.0B).

Long Term Liabilities: PDD's short term assets (CN¥476.0B) exceed its long term liabilities (CN¥3.3B).

Debt to Equity History and Analysis

Debt Level: PDD has more cash than its total debt.

Reducing Debt: PDD's debt to equity ratio has reduced from 28.2% to 1.5% over the past 5 years.

Debt Coverage: PDD's debt is well covered by operating cash flow (1782.1%).

Interest Coverage: PDD earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/03 10:18
End of Day Share Price 2025/10/31 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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 76 analysts. 41 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Qun HuangABCI Securities Company Limited
Richard KramerArete Research Services LLP
Zixiao YangArete Research Services LLP