Question 1

What is PDD Holdings's P/E ratio?

Accepted Answer

PDD Holdings (PDD) P/E ratio is 9.4× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for PDD Holdings?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For PDD Holdings specifically, the relevant sector benchmark is the current sector median of 21.9×.

Question 5

Is PDD Holdings's P/E ratio high or low?

Accepted Answer

PDD Holdings's P/E ratio of 9.4× is below its own 5-year average of 19.1× and below the sector median of 21.9×. That places the current reading at the 1th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is PDD Holdings's historical P/E ratio range?

Accepted Answer

In the available daily series, PDD Holdings (PDD) P/E ratio has ranged from a low of 8.7× in 2025 to a high of 56.5× in 2022. The 5-year average is 19.1× and the 5-year median is 15.3×.

Question 7

What was PDD Holdings's P/E ratio in 2025?

Accepted Answer

PDD Holdings (PDD) P/E ratio at the end of 2025 was 11.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does PDD Holdings's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$159.04B	$13.63B	11.7×	+3.0×	Dec 31, 2025
2024	$134.74B	$15.62B	8.6×	-15.1×	Dec 31, 2024
2023	$199.46B	$8.42B	23.7×	+1.3×	Dec 31, 2023
2022	$103.78B	$4.63B	22.4×	-38.0×	Dec 31, 2022
2021	$73.33B	$1.21B	60.4×	—	Dec 31, 2021
2020	$209.27B	−$1.04B	—	—	Dec 31, 2020
2019	$43.58B	−$1.01B	—	—	Dec 31, 2019
2018	$24.93B	−$1.56B	—	—	Dec 31, 2018
2017	$22.98B	−$77.30M	—	—	Dec 31, 2017


Ulta Beauty (ULTA)	19.6×
Las Vegas Sands (LVS)	19.6×
Avery Dennison (AVY)	19.3×
Williams-Sonoma (WSM)	19.1×
Expedia Group (EXPE)	18.9×
Etsy (ETSY)	16.9×
Ball (BALL)	16.8×
Royal Caribbean Cruises (RCL)	16.6×
Lennar (LEN)	15.6×
GameStop (GME)	15.6×
Norwegian Cruise Line (NCLH)	15.0×
NVR (NVR)	14.8×
Masco (MAS)	14.6×
LKQ (LKQ)	14.5×
Mohawk Industries (MHK)	14.3×
Carnival Corporation (CCL)	14.0×
Deckers Outdoor (DECK)	13.8×
Weyco Group (WEYS)	12.8×
D.R. Horton (DHI)	12.5×
Best Buy Co. (BBY)	11.1×
PulteGroup (PHM)	11.0×
Toll Brothers (TOL)	10.5×
Lululemon Athletica (LULU)	10.2×
Leggett & Platt (LEG)	6.1×
Sonoco Products (SON)	5.1×

P/E Ratio for PDD Holdings (PDD)

P/E Ratio daily chart for PDD Holdings (PDD)

Historical P/E Ratio for PDD Holdings (PDD) from 2017 to 2025

About P/E Ratio at PDD Holdings (PDD)

PDD Holdings P/E Ratio by Year

PDD Holdings P/E Ratio 2025: 11.7×

PDD Holdings P/E Ratio 2024: 8.6×

PDD Holdings P/E Ratio 2023: 23.7×

PDD Holdings P/E Ratio 2022: 22.4×

PDD Holdings P/E Ratio 2021: 60.4×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

PDD Holdings (PDD) Key Financials

P/E Ratio daily chart for PDD Holdings (PDD)

Historical P/E Ratio for PDD Holdings (PDD) from 2017 to 2025

About P/E Ratio at PDD Holdings (PDD)

PDD Holdings P/E Ratio by Year

PDD Holdings P/E Ratio 2025: 11.7×

PDD Holdings P/E Ratio 2024: 8.6×

PDD Holdings P/E Ratio 2023: 23.7×

PDD Holdings P/E Ratio 2022: 22.4×

PDD Holdings P/E Ratio 2021: 60.4×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is PDD Holdings's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for PDD Holdings?

+Is PDD Holdings's P/E ratio high or low?

+What is PDD Holdings's historical P/E ratio range?

+What was PDD Holdings's P/E ratio in 2025?

+Why does PDD Holdings's P/E ratio change over time?

PDD Holdings (PDD) Key Financials