PDD Holdings Inc. PDD
Annual
Quarterly
FY2025 · ended Dec 31, 2025 · Revenue $61.75B, +14.5% YoY · Filed Apr 29, 2026
PDD Holdings Inc. (PDD) files with the SEC under industry code 7389, Services-Business Services, NEC. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $61.8 billion and net income of $14.0 billion. As of Dec 31, 2025 it held $25.0 billion in cash and investments and $769.2 million in total debt.
Revenue
$61.75B
+14.5% vs prior year
Net income
$13.99B
-9.2% vs prior year
Operating cash flow
$15.29B
-8.5% vs prior year
Free cash flow
$4.31B
+103.0% vs prior year
EPS
$2.36
-9.2% vs prior year
Dividend per share
None
Shares outstanding
5.69B
+2.2% vs prior year
Net cash
$24.25B
FY 2025
Operating margin
21.6%
FY 2025
Company profile
- Industry
- Services-Business Services, NEC (SIC 7389)
- Listed as
- PDD (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- Cayman Islands
- Headquarters
- Dublin 2
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1737806
- Former names
- Pinduoduo Inc. (until Feb 3, 2023); Walnut Street Group Holding Ltd (until Jun 29, 2018)
Other Services-Business Services, NEC companies
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- Mastercard Inc MA
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- Accenture plc ACN
- Uber Technologies, Inc UBER
- Mercadolibre Inc MELI
- DoorDash, Inc. DASH
- Relx PLC RELX
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2020 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $61.8B | $54.0B | $34.9B | $18.9B | $14.7B |
| Operating income | $13.3B | $14.9B | $8.3B | $4.4B | $1.1B |
| Net income | $14.0B | $15.4B | $8.5B | $4.6B | $1.2B |
| Diluted EPS | $2.36 | $2.60 | $1.45 | $0.79 | $0.21 |
| Operating cash flow | $15.3B | $16.7B | $13.3B | $7.0B | $4.5B |
| Total assets | $90.1B | $69.2B | $49.0B | $34.4B | $28.4B |
| Total liabilities | $31.0B | $26.3B | $22.7B | $17.3B | $16.6B |
| Stockholders' equity | $59.1B | $42.9B | $26.4B | $17.1B | $11.8B |
| Cash and investments | $25.0B | $14.0B | $10.8B | $21.7B | $14.6B |
| Total debt | $769.2M | $725.8M | $603.6M | $213.5M | $152.4M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 6-K | Current report (foreign issuer) | Aug 25, 2026 | Aug 25, 2026 |
| 6-K | Current report (foreign issuer) | Aug 21, 2026 | Aug 21, 2026 |
| 6-K | Current report (foreign issuer) | May 28, 2026 | May 28, 2026 |
| 20-F | Annual report (foreign issuer) | Apr 29, 2026 | Dec 31, 2025 |
| 6-K | Current report (foreign issuer) | Mar 26, 2026 | Mar 26, 2026 |
| 6-K | Current report (foreign issuer) | Dec 19, 2025 | Dec 19, 2025 |
All 220 PDD Holdings Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.