TTM
21.5%
YoY change
−5.89pp
Trough year (2018)
-77.9%
Peak year (2024)
28.5%
Latest annual
22.7%
Net Profit Margin history chart for PDD Holdings (PDD) from 2016 to 2025
Latest: 22.7%
Net Profit Margin change chart for PDD Holdings (PDD) from 2016 to 2025
Latest: −5.89pp
Net Profit Margin history table for PDD Holdings (PDD) from 2016 to 2025
| 2025 | 22.7% | -5.89pp | ||
| 2024 | 28.5% | +4.31pp | ||
| 2023 | 24.2% | +0.08pp | ||
| 2022 | 24.2% | +15.89pp | ||
| 2021 | 8.3% | +20.34pp | ||
| 2020 | -12.1% | +11.05pp | ||
| 2019 | -23.1% | +54.76pp | ||
| 2018 | -77.9% | -47.77pp | ||
| 2017 | -30.1% | +27.72pp | ||
| 2016 | -57.8% | — |
- 202522.7%-5.89pp
- 202428.5%+4.31pp
- 202324.2%+0.08pp
- 202224.2%+15.89pp
- 20218.3%+20.34pp
- 2020-12.1%+11.05pp
- 2019-23.1%+54.76pp
- 2018-77.9%-47.77pp
- 2017-30.1%+27.72pp
- 2016-57.8%—
Net Profit 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 Net Profit Margin at PDD Holdings (PDD)
According to PDD Holdings's latest reported financial statements, the company's latest reported net margin is 21.5%. Net profit margin is net income divided by revenue — the bottom-line share of each sales dollar that remains after all costs, including operating expenses, interest, and taxes. It is the most comprehensive profitability ratio, though it can swing on one-off items, so read it alongside the multi-year trend below.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
PDD Holdings (PDD) most recent annual net margin stands at 22.66% (2025) – contracted 5.9 percentage points year-over-year.
28.55% stands as the all-time-high annual net margin, posted in 2024, against a low of -77.87% during 2018.
PDD Holdings Net Profit Margin by Year
PDD Holdings Net Profit Margin 2025: 22.7%
2025's net margin for PDD Holdings came in at 22.66%, contracted 5.9 percentage points from 2024.
PDD Holdings Net Profit Margin 2024: 28.5%
PDD Holdings posted net margin of 28.55% in 2024, expanded 4.3 percentage points from 2023. This figure represents the highest annual value in the available history.
PDD Holdings Net Profit Margin 2023: 24.2%
In 2023, PDD Holdings reported net margin of 24.24%, expanded 0.1 percentage points from 2022.
PDD Holdings Net Profit Margin 2022: 24.2%
PDD Holdings net margin in 2022 was 24.16%, expanded 15.9 percentage points from 2021.
PDD Holdings Net Profit Margin 2021: 8.3%
PDD Holdings net margin in 2021 was 8.27%.
See more financial history for PDD Holdings (PDD).
Sector peers by Net Profit Margin
Consumer Cyclical peers of PDD Holdings (PDD), ranked by their latest net margin
| 31.6% | |
| 22.2% | |
| 12.2% | |
| 10.1% | |
| 9.4% | |
| 8.4% | |
| 7.5% | |
| 4.0% |
- 31.6%
- 12.2%
- 10.1%
- 8.4%
- 4.0%
Frequently asked questions
PDD Holdings (PDD) Key Financials
Charts, filings, and peer comparison for every metric
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation