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PDD Holdings stock: growth
PDDPDD Holdings reported $64.76B in revenue for fiscal 2025, up 9.7% on the prior year, up 48.7% a year on average over up to five years.
Daily figure as of 13 Nov 2026
Revenue (Annual rate)
111.7%
per year from 2016 to 2025, per share 100.6%
Earnings (Annual rate)
no data
Free cash flow (Annual rate)
70.3%
per year from 2016 to 2025, per share 61.4%
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2016 | |
|---|---|---|
| Revenue | 48.7% | 111.7% |
| Revenue per share | 43.9% | 100.6% |
| Earnings | no data | no data |
| Earnings per share | no data | no data |
| Free cash flow | 30.3% | 70.3% |
| Free cash flow per share | 26.2% | 61.4% |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2016 | $75.71M | −$43.79M | $131.59M |
| 2017 | $261.55M | −$78.75M | $45.97M |
| 2018 | $1.97B | −$1.53B | $1.16B |
| 2019 | $4.52B | −$1.04B | $2.22B |
| 2020 | $8.92B | −$1.08B | $4.22B |
| 2021 | $14.09B | $1.17B | $3.82B |
| 2022 | $19.58B | $4.73B | $7.18B |
| 2023 | $37.14B | $9B | $14.03B |
| 2024 | $59.06B | $16.86B | $18.14B |
| 2025 | $64.76B | $14.67B | $15.87B |
Revenue by segment
How PDD Holdings Inc. makes its money and how that has shifted. Names are as the company reports them.
- Online marketing services and others50%
- Transaction services50%
- Other< 1%
“Other” combines smaller and former segments with revenue the company does not assign to a segment. Names as reported, with abbreviations spelled out for the largest companies.
Figures as a table
| 2021 | 2022 | 2023 | 2024 | 2025 | Share 2025 | |
|---|---|---|---|---|---|---|
| Online marketing services and others | $10.88B | $15.4B | $23.03B | $29.68B | $32.66B | 50.4% |
| Transaction services | $2.12B | $4.14B | $14.11B | $29.38B | $32.1B | 49.6% |
| Other | $1.09B | $0 | $0 | $0 | $0 | 0% |
| Total revenue | $14.09B | $19.58B | $37.14B | $59.06B | $64.76B | 100% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = CN¥6.6683)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral since 12 Nov 2026, previously Strong
- Valuation signal Undervalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.