Capital Expenditures for PDD Holdings (PDD)
According to PDD Holdings's latest reported financial statements, the company's current capital expenditures (TTM) is $0 USD. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
PDD
Currently viewingCapital ExpendituresSwitch metric
Latest period
$0
YoY change
-100.0%
5Y CAGR
-100.0%
Peak year (2021)
$3.29B
Cumulative capital expenditures
$5.58B
CapEx history chart for PDD Holdings (PDD) from 2016 to 2025
CapEx history table for PDD Holdings (PDD) from 2016 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 2025 | $0 | -100.0% | ||
| 2024 | $967.14M | +65.6% | ||
| 2023 | $583.88M | -8.2% | ||
| 2022 | $635.72M | -80.7% | ||
| 2021 | $3.29B | +7536.6% | ||
| 2020 | $43.05M | +56.9% | ||
| 2019 | $27.44M | +0.4% | ||
| 2018 | $27.33M | +206.4% | ||
| 2017 | $8.92M | +287.7% | ||
| 2016 | $2.30M | — |
CapEx values are taken from PDD Holdings's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in CNY as filed.
Analysis
The 2025 reading of PDD Holdings (PDD) capital expenditures is $0 – plunged 100.0% year-over-year.
PDD Holdings capital expenditures compound annual growth for the 2020–2025 (5 years) window is -100.0%, with a net decline across the window.
PDD Holdings capital expenditures peaked at $3.29B in 2021; the latest annual figure is $0 in 2025 (100.0% below peak).
$3.29B stands as the all-time-high annual capital expenditures, posted in 2021, against a low of $0 during 2025.
Among 8 Consumer Cyclical peers, PDD Holdings (PDD) ranks 9th; the peer median for capital expenditures is $3.52B.
PDD Holdings Capital Expenditures by Year
PDD Holdings Capital Expenditures 2025: $0
PDD Holdings capital expenditures in 2025 was $0, plunged 100.0% below 2024. This figure represents the lowest annual value in the available history.
PDD Holdings Capital Expenditures 2024: $967.14M
PDD Holdings capital expenditures in 2024 was $967.14M, surged 65.6% from 2023.
PDD Holdings Capital Expenditures 2023: $583.88M
PDD Holdings capital expenditures in 2023 was $583.88M, declined 8.2% below 2022.
PDD Holdings Capital Expenditures 2022: $635.72M
PDD Holdings capital expenditures in 2022 was $635.72M, plunged 80.7% below 2021.
PDD Holdings Capital Expenditures 2021: $3.29B
PDD Holdings capital expenditures in 2021 was $3.29B.
See more financial history for PDD Holdings (PDD).
Sector peers — CapEx
Companies in the same sector as PDD Holdings, ranked by their latest capital expenditures.
| Company | Capital Expenditures | Sector |
|---|---|---|
| Amazon.com, Inc. (AMZN) | $131.82B | Consumer Cyclical |
| Alibaba Group Holding Limited (BABA) | $86.66B | Consumer Cyclical |
| Tesla, Inc. (TSLA) | $8.53B | Consumer Cyclical |
| The Home Depot, Inc. (HD) | $3.68B | Consumer Cyclical |
| McDonald's Corporation (MCD) | $3.37B | Consumer Cyclical |
| Lowe's Companies, Inc. (LOW) | $2.21B | Consumer Cyclical |
| The TJX Companies, Inc. (TJX) | $1.96B | Consumer Cyclical |
| Booking Holdings Inc. (BKNG) | $322.00M | Consumer Cyclical |
Frequently asked questions
What is PDD Holdings's capital expenditures?
- Latest reported capital expenditures for PDD Holdings (PDD) is $0 (period ending December 31, 2025).
How has PDD Holdings capital expenditures changed year-over-year?
- PDD Holdings (PDD) capital expenditures changed -100.0% year-over-year on the latest annual filing.
What is the long-term growth rate of PDD Holdings capital expenditures?
- PDD Holdings (PDD) capital expenditures compound annual growth rate is -100.0% over the most recent 5 years available.
When did PDD Holdings capital expenditures hit its highest annual value?
- PDD Holdings capital expenditures reached its highest annual value of $3.29B in 2021.
What was PDD Holdings capital expenditures in 2024?
- PDD Holdings (PDD) capital expenditures in 2024 was $967.14M.
What was PDD Holdings capital expenditures in 2025?
- PDD Holdings (PDD) capital expenditures in 2025 was $0.
Metrics overview
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