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EBITDA Margin for PDD Holdings (PDD)

As of · Reported

Metric

TTM

30.3%

YoY change

+0.64pp

Trough year (2016)

-56.5%

Peak year (2025)

28.4%

EBITDA Margin history chart for PDD Holdings (PDD) from 2016 to 2025

Latest: 28.4%

EBITDA Margin change chart for PDD Holdings (PDD) from 2016 to 2025

Latest: +0.64pp

EBITDA Margin history table for PDD Holdings (PDD) from 2016 to 2025

  • 202528.4%+0.64pp
  • 202427.7%+3.69pp
  • 202324.0%-0.97pp
  • 202225.0%+16.06pp
  • 20218.9%+23.60pp
  • 2020-14.7%+11.54pp
  • 2019-26.2%+6.94pp
  • 2018-33.1%+0.31pp
  • 2017-33.5%+23.09pp
  • 2016-56.5%—

EBITDA Margin values are taken from PDD Holdings's reported income statements (interim 6-K and annual 20-F filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in CNY as filed.

About EBITDA Margin at PDD Holdings (PDD)

According to PDD Holdings's latest reported financial statements, the company's latest reported EBITDA margin is 30.3%. EBITDA margin is EBITDA divided by revenue — earnings before interest, taxes, depreciation, and amortization as a percentage of sales. By stripping out non-cash charges and capital-structure effects, it approximates operating cash profitability and is widely used to compare companies with different asset bases and leverage.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

2025's annual EBITDA margin for PDD Holdings (PDD) came in at 28.35% – expanded 0.6 percentage points year-over-year.

The highest annual EBITDA margin of 28.35% was reported in 2025. The lowest in the available history was -56.54% in 2016.

PDD Holdings EBITDA Margin by Year

PDD Holdings EBITDA Margin 2025: 28.4%

2025's EBITDA margin for PDD Holdings came in at 28.35%, expanded 0.6 percentage points from 2024. This figure represents the highest annual value in the available history.

PDD Holdings EBITDA Margin 2024: 27.7%

PDD Holdings posted EBITDA margin of 27.71% in 2024, expanded 3.7 percentage points from 2023.

PDD Holdings EBITDA Margin 2023: 24.0%

In 2023, PDD Holdings reported EBITDA margin of 24.02%, contracted 1.0 percentage points from 2022.

PDD Holdings EBITDA Margin 2022: 25.0%

PDD Holdings EBITDA margin in 2022 was 24.99%, expanded 16.1 percentage points from 2021.

PDD Holdings EBITDA Margin 2021: 8.9%

PDD Holdings EBITDA margin in 2021 was 8.93%.

See more financial history for PDD Holdings (PDD).

Sector peers by EBITDA Margin

Consumer Cyclical peers of PDD Holdings (PDD), ranked by their latest EBITDA margin

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