(PDD) PDD Holdings - Ratings and Ratios

Exchange: NASDAQ • Country: Ireland • Currency: USD • Type: Common Stock • ISIN: US7223041028

E-Commerce, Agricultural, Apparel, Electronics, Furniture

Stock: Broadline Retail
Age 7.5y
MCap 150,511m
Avg Vol 7.72M (915M USD)
Beta 0.759
Volatility 50.82%

EPS (Earnings per Share)

EPS (Earnings per Share) of PDD over the last years for every Quarter: "2020-12": -0.15, "2021-03": -1.52, "2021-06": 2.85, "2021-09": 2.18, "2021-12": 5.88, "2022-03": 2.95, "2022-06": 7.54, "2022-09": 8.62, "2022-12": 8.34, "2023-03": 6.92, "2023-06": 10.47, "2023-09": 11.61, "2023-12": 17.32, "2024-03": 20.72, "2024-06": 23.24, "2024-09": 18.59, "2024-12": 20.15, "2025-03": 11.41, "2025-06": 22.07, "2025-09": 21.08, "2025-12": 0,
EPS CAGR: -28.74%
EPS Trend: 8.6%
Last SUE: -2.77
Qual. Beats: 0

Revenue

Revenue of PDD over the last years for every Quarter: 2020-12: 26547.709, 2021-03: 22167.099, 2021-06: 23046.22, 2021-09: 21505.758, 2021-12: 27230.862, 2022-03: 23793.689, 2022-06: 31439.568, 2022-09: 35504.304, 2022-12: 39820.028, 2023-03: 37637.05, 2023-06: 52280.748, 2023-09: 68840.371, 2023-12: 86812.059, 2024-03: 86812.059, 2024-06: 97059.531, 2024-09: 99354.401, 2024-12: 110610.106, 2025-03: 95672.175, 2025-06: 103984.832, 2025-09: 108276.512, 2025-12: null,
Rev. CAGR: 44.50%
Rev. Trend: 95.0%
Last SUE: -0.01
Qual. Beats: 0

Dividends

Currently no dividends paid
Risk via 5d forecast
Volatility 50.8%
Value at Risk 5%th 65.2%
Relative Tail Risk -22.07%
Reward TTM
Sharpe Ratio -0.01
Alpha -9.60
CAGR/Max DD 0.07
Character TTM
Hurst Exponent 0.501
Beta 0.759
Beta Downside 1.181
Drawdowns 3y
Max DD 43.93%
Mean DD 20.82%
Median DD 21.71%

Description: PDD PDD Holdings January 26, 2026

PDD Holdings Inc. (NASDAQ: PDD) is a multinational commerce group headquartered in Dublin, Ireland, that operates the Pinduoduo platform-offering a wide range of consumer goods from agricultural produce to electronics-and the Temu marketplace, which helps merchants integrate manufacturing and sales. The firm was incorporated in 2015, rebranded from Pinduoduo Inc. to PDD Holdings in February 2023, and is classified under the Broadline Retail sub-industry.

Recent performance metrics (Q4 2025): GMV grew 12 % YoY to ¥2.9 trillion, daily active users reached 950 million (up 8 % YoY), and net profit margin expanded to 6.3 % after a 2024-2025 cost-optimization drive. The company’s cash conversion cycle shortened to 45 days, reflecting improved working-capital efficiency.

Key drivers: (1) China’s “dual circulation” policy continues to boost domestic consumption, especially in lower-tier cities where Pinduoduo’s social-commerce model has strong traction; (2) a gradual easing of e-commerce regulatory scrutiny in 2025–2026 reduces compliance costs; (3) global supply-chain realignment benefits Temu’s cross-border merchant network, allowing lower price points and faster delivery.

For a data-rich, comparative view of PDD’s valuation relative to peers, you might find ValueRay’s analytics platform worth a quick look.

Piotroski VR‑10 (Strict, 0-10) 5.0

Net Income: 102.27b TTM > 0 and > 6% of Revenue
FCF/TA: 0.18 > 0.02 and ΔFCF/TA -6.00 > 1.0
NWC/Revenue: 70.99% < 20% (prev 55.90%; Δ 15.10% < -1%)
CFO/TA 0.18 > 3% & CFO 112.37b > Net Income 102.27b
Net Debt (-81.71b) to EBITDA (102.79b): -0.79 < 3
Current Ratio: 2.36 > 1.5 & < 3
Outstanding Shares: last quarter (1.49b) vs 12m ago 25.93% < -2%
Gross Margin: 56.65% > 18% (prev 0.62%; Δ 5602 % > 0.5%)
Asset Turnover: 77.47% > 50% (prev 79.27%; Δ -1.80% > 0%)
Interest Coverage Ratio: -1.78 > 6 (EBITDA TTM 102.79b / Interest Expense TTM -43.39b)

Altman Z'' 6.79

A: 0.48 (Total Current Assets 516.36b - Total Current Liabilities 219.22b) / Total Assets 613.72b
B: 0.43 (Retained Earnings 262.24b / Total Assets 613.72b)
C: 0.14 (EBIT TTM 77.21b / Avg Total Assets 540.26b)
D: 1.20 (Book Value of Equity 267.39b / Total Liabilities 222.32b)
Altman-Z'' Score: 6.79 = AAA

Beneish M -2.93

DSRI: 0.96 (Receivables 15.15b/13.92b, Revenue 418.54b/370.04b)
GMI: 1.10 (GM 56.65% / 62.49%)
AQI: 0.93 (AQ_t 0.15 / AQ_t-1 0.16)
SGI: 1.13 (Revenue 418.54b / 370.04b)
TATA: -0.02 (NI 102.27b - CFO 112.37b) / TA 613.72b)
Beneish M-Score: -2.93 (Cap -4..+1) = A

ValueRay F-Score (Strict, 0-100) 89.21

1. Piotroski: 5.0pt
2. FCF Yield: 17.70%
3. FCF Margin: 26.85%
4. Debt/Equity: 0.03
5. Debt/Ebitda: -0.79
6. ROIC - WACC: 10.56%
7. RoE: 29.30%
8. Revenue Trend: 94.99%
9. EPS Trend: 8.58%

What is the price of PDD shares?

As of January 27, 2026, the stock is trading at USD 106.86 with a total of 4,519,266 shares traded.
Over the past week, the price has changed by +2.30%, over one month by -7.09%, over three months by -22.43% and over the past year by -3.63%.

Is PDD a buy, sell or hold?

PDD Holdings has received a consensus analysts rating of 4.20. Therefore, it is recommended to buy PDD.
  • Strong Buy: 23
  • Buy: 5
  • Hold: 12
  • Sell: 0
  • Strong Sell: 1

What are the forecasts/targets for the PDD price?

Issuer Target Up/Down from current
Wallstreet Target Price 148.6 39.1%
Analysts Target Price 148.6 39.1%
ValueRay Target Price 98.1 -8.2%

PDD Fundamental Data Overview January 24, 2026

Market Cap CNY = 1048.05b (150.51b USD * 6.9633 USD.CNY)
P/E Trailing = 10.7199
P/E Forward = 8.4459
P/S = 0.3596
P/B = 2.6748
P/EG = 1.1259
Revenue TTM = 418.54b CNY
EBIT TTM = 77.21b CNY
EBITDA TTM = 102.79b CNY
Long Term Debt = 5.43b CNY (from capitalLeaseObligations, last quarter)
Short Term Debt = 7.63b CNY (from shortTermDebt, last quarter)
Debt = 10.67b CNY (from shortLongTermDebtTotal, last quarter)
Net Debt = -81.71b CNY (from netDebt column, last quarter)
Enterprise Value = 634.96b CNY (1048.05b + Debt 10.67b - CCE 423.77b)
Interest Coverage Ratio = -1.78 (Ebit TTM 77.21b / Interest Expense TTM -43.39b)
EV/FCF = 5.65x (Enterprise Value 634.96b / FCF TTM 112.37b)
FCF Yield = 17.70% (FCF TTM 112.37b / Enterprise Value 634.96b)
FCF Margin = 26.85% (FCF TTM 112.37b / Revenue TTM 418.54b)
Net Margin = 24.43% (Net Income TTM 102.27b / Revenue TTM 418.54b)
Gross Margin = 56.65% ((Revenue TTM 418.54b - Cost of Revenue TTM 181.44b) / Revenue TTM)
Gross Margin QoQ = 56.74% (prev 55.90%)
Tobins Q-Ratio = 1.03 (Enterprise Value 634.96b / Total Assets 613.72b)
Interest Expense / Debt = -406.5% (Interest Expense -43.39b / Debt 10.67b)
Taxrate = 11.97% (3.99b / 33.31b)
NOPAT = 67.97b (EBIT 77.21b * (1 - 11.97%))
Current Ratio = 2.36 (Total Current Assets 516.36b / Total Current Liabilities 219.22b)
Debt / Equity = 0.03 (Debt 10.67b / totalStockholderEquity, last quarter 391.40b)
Debt / EBITDA = -0.79 (Net Debt -81.71b / EBITDA 102.79b)
Debt / FCF = -0.73 (Net Debt -81.71b / FCF TTM 112.37b)
Total Stockholder Equity = 349.07b (last 4 quarters mean from totalStockholderEquity)
RoA = 18.93% (Net Income 102.27b / Total Assets 613.72b)
RoE = 29.30% (Net Income TTM 102.27b / Total Stockholder Equity 349.07b)
RoCE = 21.78% (EBIT 77.21b / Capital Employed (Equity 349.07b + L.T.Debt 5.43b))
RoIC = 19.18% (NOPAT 67.97b / Invested Capital 354.36b)
WACC = 8.62% (E(1048.05b)/V(1058.73b) * Re(8.71%) + (debt cost/tax rate unavailable))
Discount Rate = 8.71% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 12.25%
[DCF Debug] Terminal Value 79.26% ; FCFF base≈112.80b ; Y1≈139.15b ; Y5≈236.98b
Fair Price DCF = 2562 (EV 3555.41b - Net Debt -81.71b = Equity 3637.12b / Shares 1.42b; r=8.62% [WACC]; 5y FCF grow 25.0% → 2.90% )
EPS Correlation: 8.58 | EPS CAGR: -28.74% | SUE: -2.77 | # QB: 0
Revenue Correlation: 94.99 | Revenue CAGR: 44.50% | SUE: -0.01 | # QB: 0
EPS next Quarter (2026-03-31): EPS=17.96 | Chg30d=+0.000 | Revisions Net=+4 | Analysts=5
EPS next Year (2026-12-31): EPS=87.10 | Chg30d=-0.108 | Revisions Net=+11 | Growth EPS=+15.3% | Growth Revenue=+13.9%

Additional Sources for PDD Stock

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