How much revenue does PDD Holdings (PDD) generate?

PDD Holdings (PDD) generated 430.14B CNY in total revenue for TTM through Q4 2025 with a net profit margin of 23%.

What is PDD Holdings (PDD) gross profit margin?

PDD Holdings (PDD) reported a gross profit margin of 56.3% for TTM through Q4 2025, equivalent to 242.09B CNY in gross profit. This means PDD Holdings retains 56.3% of each revenue unit after direct costs of production.

What is PDD Holdings (PDD) operating profit margin?

PDD Holdings (PDD) reported an operating profit margin of 21.9% for TTM through Q4 2025, equivalent to 94.24B CNY in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.

What is PDD Holdings (PDD) net profit margin?

PDD Holdings (PDD) reported a net profit margin of 23% for TTM through Q4 2025, equivalent to 99.03B CNY in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.

How much does PDD Holdings (PDD) invest in R&D?

PDD Holdings (PDD) invested 16.43B CNY in research and development in TTM through Q4 2025 (3.8% of total revenue). R&D spending reflects investment in future products, services, and technologies.

What is PDD Holdings (PDD) free cash flow?

PDD Holdings (PDD) generated 106.94B CNY in free cash flow for TTM through Q4 2025 (24.9% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

What is PDD Holdings (PDD) effective tax rate?

PDD Holdings (PDD) had an effective tax rate of 17.9% for TTM through Q4 2025. This is the actual percentage of pre-tax income paid as income taxes.

How PDD Holdings (PDD) Makes Money: A Visual Guide

PDD Holdings (PDD) generated 430.14B CNY in revenue, earning 99.03B CNY in net profit (23% margin). Below is an interactive breakdown of how revenue flows through the income statement.

PDD Holdings (PDD) Income Statement Flow — TTM through Q4 2025

Calculated from the four most recent reported quarters, ending December 31, 2025 (reported December 31, 2025).

Frequently asked questions

How much revenue does PDD Holdings (PDD) generate?: PDD Holdings (PDD) generated 430.14B CNY in total revenue for TTM through Q4 2025 with a net profit margin of 23%.
What is PDD Holdings (PDD) gross profit margin?: PDD Holdings (PDD) reported a gross profit margin of 56.3% for TTM through Q4 2025, equivalent to 242.09B CNY in gross profit. This means PDD Holdings retains 56.3% of each revenue unit after direct costs of production.
What is PDD Holdings (PDD) operating profit margin?: PDD Holdings (PDD) reported an operating profit margin of 21.9% for TTM through Q4 2025, equivalent to 94.24B CNY in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is PDD Holdings (PDD) net profit margin?: PDD Holdings (PDD) reported a net profit margin of 23% for TTM through Q4 2025, equivalent to 99.03B CNY in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does PDD Holdings (PDD) invest in R&D?: PDD Holdings (PDD) invested 16.43B CNY in research and development in TTM through Q4 2025 (3.8% of total revenue). R&D spending reflects investment in future products, services, and technologies.
What is PDD Holdings (PDD) free cash flow?: PDD Holdings (PDD) generated 106.94B CNY in free cash flow for TTM through Q4 2025 (24.9% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
What is PDD Holdings (PDD) effective tax rate?: PDD Holdings (PDD) had an effective tax rate of 17.9% for TTM through Q4 2025. This is the actual percentage of pre-tax income paid as income taxes.

Data & methodology

What is a Sankey diagram?: A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?: We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
When was this data last updated?: Based on company filings through TTM through Q4 2025.