How much revenue does PDD Holdings (PDD) generate?

PDD Holdings (PDD) generated 441.76B CNY in total revenue in TTM through Q1 2026, with a net profit margin of 21.6%, equivalent to roughly 95.57B CNY in net income — what remains after every operating cost, interest payment, and income tax has been paid.

What is the gross profit margin of PDD Holdings (PDD)?

PDD Holdings (PDD) reported a gross profit margin of 56% in TTM through Q1 2026, equivalent to 247.30B CNY in gross profit on 441.76B CNY in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of PDD Holdings (PDD)?

PDD Holdings (PDD) reported an operating profit margin of 22.2% in TTM through Q1 2026, equivalent to 98.03B CNY in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of PDD Holdings (PDD)?

PDD Holdings (PDD) reported a net profit margin of 21.6% in TTM through Q1 2026, equivalent to 95.57B CNY in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is PDD Holdings (PDD) profitable?

Yes. PDD Holdings (PDD) reported 95.57B CNY in net income for TTM through Q1 2026, with a net profit margin of 21.6%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does PDD Holdings (PDD) invest in research and development?

PDD Holdings (PDD) invested 17.31B CNY in research and development during TTM through Q1 2026, roughly 3.9% of total revenue. R&D spending funds the company's future product pipeline and is expensed in full on the income statement rather than capitalised, which makes the operating margin sensitive to how aggressively management chooses to reinvest in innovation.

How much free cash flow does PDD Holdings (PDD) generate?

PDD Holdings (PDD) generated 106.94B CNY in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 24.2%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of PDD Holdings (PDD)?

PDD Holdings (PDD) had an effective tax rate of 18.2% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

How PDD Holdings Makes Money: 2026 Visual Revenue Map

PDD Holdings (PDD) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 28, 2026).

PDD Holdings discloses geographic revenue only in annual filings. to view the full breakdown.

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Revenue Counter$1,974/s
Earnings Counter$424.94/s
Economic Scale> Bolivia

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