(PDD) PDD Holdings - Overview

Sector: Consumer Cyclical | Industry: Internet Retail | Exchange: NASDAQ (USA) | Market Cap: 144.492m USD | Total Return: -11.3% in 12m

Stock Online Retail, E-commerce, Apparel, Electronics, Home Goods
Total Rating 34
Safety 85
Buy Signal -0.79
Internet Retail +6.7
Broadline Retail +10.4
Market Cap: 144,492m
Avg Trading Vol: 768M USD
ATR: 3.46%
Peers RS (IBD): 41.7
Risk 5d forecast
Volatility52.0%
Rel. Tail Risk-22.7%
Reward TTM
Sharpe Ratio-0.35
Alpha-36.22
Character TTM
Beta1.189
Beta Downside1.213
Drawdowns 3y
Max DD43.93%
CAGR/Max DD0.27
EPS (Earnings per Share) EPS (Earnings per Share) of PDD over the last years for every Quarter: "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": 17.69, "2026-03": 0,
EPS CAGR: -38.56%
EPS Trend: -5.4%
Last SUE: -2.31
Qual. Beats: 0
Revenue Revenue of PDD over the last years for every Quarter: 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: 122201.949, 2026-03: null,
Rev. CAGR: 54.70%
Rev. Trend: 94.0%
Last SUE: -0.16
Qual. Beats: 0
Description: PDD PDD Holdings

PDD Holdings Inc. (PDD) is a multinational commerce group. It operates two primary platforms: Pinduoduo and Temu. Pinduoduo is an e-commerce platform offering a wide range of products, including agricultural produce and consumer electronics. Temu is an online platform designed to streamline manufacturing and commercial operations for merchants, a business model common in direct-to-consumer retail.

The company, incorporated in 2015, changed its name from Pinduoduo Inc. to PDD Holdings Inc. in February 2023. PDD Holdings Inc. is based in Dublin, Ireland, a location often chosen by international companies for tax efficiency and access to the European market.

For more detailed financial analysis, ValueRay offers in-depth reports.

Headlines to Watch Out For
  • Temus global expansion drives revenue growth
  • Pinduoduos domestic e-commerce competition intensifies
  • Agricultural product sales remain a core revenue component
  • Chinese regulatory scrutiny impacts platform operations
Piotroski VR‑10 (Strict) 5.0
Net Income: 99.03b TTM > 0 and > 6% of Revenue
FCF/TA: 0.18 > 0.02 and ΔFCF/TA -4.64 > 1.0
NWC/Revenue: 71.36% < 20% (prev 57.70%; Δ 13.67% < -1%)
CFO/TA 0.18 > 3% & CFO 112.37b > Net Income 99.03b
Net Debt (-177.47b) to EBITDA (104.34b): -1.70 < 3
Current Ratio: 2.45 > 1.5 & < 3
Outstanding Shares: last quarter (1.49b) vs 12m ago 0.36% < -2%
Gross Margin: 56.28% > 18% (prev 0.61%; Δ 5.57k% > 0.5%)
Asset Turnover: 75.76% > 50% (prev 77.98%; Δ -2.22% > 0%)
Interest Coverage Ratio: -0.75 > 6 (EBITDA TTM 104.34b / Interest Expense TTM -68.98b)
Altman Z'' 6.69
A: 0.49 (Total Current Assets 519.31b - Total Current Liabilities 212.35b) / Total Assets 630.45b
B: 0.45 (Retained Earnings 285.87b / Total Assets 630.45b)
C: 0.09 (EBIT TTM 51.62b / Avg Total Assets 567.74b)
D: 1.34 (Book Value of Equity 289.32b / Total Liabilities 215.27b)
Altman-Z'' Score: 6.69 = AAA
Beneish M -2.70
DSRI: 1.25 (Receivables 15.32b/11.25b, Revenue 430.14b/393.84b)
GMI: 1.08 (GM 56.28% / 60.92%)
AQI: 1.01 (AQ_t 0.17 / AQ_t-1 0.17)
SGI: 1.09 (Revenue 430.14b / 393.84b)
TATA: -0.02 (NI 99.03b - CFO 112.37b) / TA 630.45b)
Beneish M-Score: -2.70 (Cap -4..+1) = A
What is the price of PDD shares? As of April 05, 2026, the stock is trading at USD 102.18 with a total of 10,688,016 shares traded.
Over the past week, the price has changed by +1.06%, over one month by +0.16%, over three months by -15.32% and over the past year by -11.26%.
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.
  • StrongBuy: 23
  • Buy: 5
  • Hold: 12
  • Sell: 0
  • StrongSell: 1
What are the forecasts/targets for the PDD price?
Wallstreet Target Price 142.6 39.5%
Analysts Target Price 142.6 39.5%
PDD Fundamental Data Overview as of 03 April 2026
P/E Trailing = 10.4712
P/E Forward = 8.4175
P/S = 0.3346
P/B = 2.4166
P/EG = 0.7382
Revenue TTM = 430.14b USD
EBIT TTM = 51.62b USD
EBITDA TTM = 104.34b USD
Long Term Debt = 2.88b USD (estimated: total debt 5.38b - short term 2.50b)
Short Term Debt = 2.50b USD (from shortTermDebt, last quarter)
Debt = 5.38b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -177.47b USD (from netDebt column, last quarter)
Enterprise Value = -346.58b USD (144.49b + Debt 5.38b - CCE 496.46b)
Interest Coverage Ratio = -0.75 (Ebit TTM 51.62b / Interest Expense TTM -68.98b)
EV/FCF = -3.08x (Enterprise Value -346.58b / FCF TTM 112.37b)
FCF Yield = -32.42% (FCF TTM 112.37b / Enterprise Value -346.58b)
FCF Margin = 26.12% (FCF TTM 112.37b / Revenue TTM 430.14b)
Net Margin = 23.02% (Net Income TTM 99.03b / Revenue TTM 430.14b)
Gross Margin = 56.28% ((Revenue TTM 430.14b - Cost of Revenue TTM 188.04b) / Revenue TTM)
Gross Margin QoQ = 55.49% (prev 56.74%)
 Tobins Q-Ratio = -0.55 (set to none) (Enterprise Value -346.58b / Total Assets 630.45b)
 Interest Expense / Debt = -1.28k% (Interest Expense -68.98b / Debt 5.38b)
 Taxrate = 25.60% (8.33b / 32.53b)
NOPAT = 38.40b (EBIT 51.62b * (1 - 25.60%))
Current Ratio = 2.45 (Total Current Assets 519.31b / Total Current Liabilities 212.35b)
Debt / Equity = 0.01 (Debt 5.38b / totalStockholderEquity, last quarter 415.17b)
Debt / EBITDA = -1.70 (Net Debt -177.47b / EBITDA 104.34b)
Debt / FCF = -1.58 (Net Debt -177.47b / FCF TTM 112.37b)
Total Stockholder Equity = 374.53b (last 4 quarters mean from totalStockholderEquity)
RoA = 17.44% (Net Income 99.03b / Total Assets 630.45b)
RoE = 26.44% (Net Income TTM 99.03b / Total Stockholder Equity 374.53b)
RoCE = 13.68% (EBIT 51.62b / Capital Employed (Equity 374.53b + L.T.Debt 2.88b))
RoIC = 10.49% (NOPAT 38.40b / Invested Capital 366.27b)
WACC = 9.80% (E(144.49b)/V(149.87b) * Re(10.17%) + (debt cost/tax rate unavailable))
Discount Rate = 10.17% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 12.18%
[DCF] Terminal Value 75.93% ; FCFF base≈112.80b ; Y1≈139.15b ; Y5≈237.42b
[DCF] Fair Price = 2.21k (EV 2964.87b - Net Debt -177.47b = Equity 3142.34b / Shares 1.42b; r=9.80% [WACC]; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: -5.43 | EPS CAGR: -38.56% | SUE: -2.31 | # QB: 0
Revenue Correlation: 93.97 | Revenue CAGR: 54.70% | SUE: -0.16 | # QB: 0
EPS next Quarter (2026-06-30): EPS=20.84 | Chg7d=-1.645 | Chg30d=-1.645 | Revisions Net=-4 | Analysts=9
EPS current Year (2026-12-31): EPS=82.96 | Chg7d=+1.084 | Chg30d=-2.865 | Revisions Net=-14 | Growth EPS=+14.6% | Growth Revenue=+14.7%
EPS next Year (2027-12-31): EPS=97.68 | Chg7d=-2.855 | Chg30d=-3.820 | Revisions Net=-9 | Growth EPS=+17.7% | Growth Revenue=+12.8%
[Analyst] Revisions Ratio: -1.00 (0 Up / 4 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 0.6% (Discount Rate 10.2% - Earnings Yield 9.6%)
[Growth] Growth Spread = +14.3% (Analyst 14.9% - Implied 0.6%)
External Resources
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