PDD Holdings Inc

NAS:PDDConsumer CyclicalNASDAQ:IXCONASDAQ:NDXT

$81.39+0.52%At closeAt close · Tue 20 Oct · ≈ AED 298.90 · Market cap $117.92B · Next earnings Thu 19 Nov · Extended $81.36 −0.04%

Ratio	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	Current · undated	YoY
Gross margin	67.6%	66.2%	75.9%	63.0%	60.9%	56.3%	—	—
Operating margin	−15.8%	7.3%	23.3%	23.7%	27.5%	21.6%	21.6%	+0.0 pts
Net margin	−12.1%	8.3%	24.2%	24.2%	28.5%	22.7%	22.7%	+0.0 pts
EBITDA margin	−14.7%	13.2%	29.5%	29.4%	33.9%	28.4%	—	—
Return on equity	−11.9%	10.3%	26.8%	32.1%	35.9%	23.6%	23.6%	+0.0 pts
Return on assets	−4.5%	4.3%	13.3%	17.2%	22.3%	15.5%	15.5%	+0.0 pts
Return on capital employed	−12.5%	7.9%	25.3%	30.1%	34.2%	22.3%	—	—
Debt / equity	0.3×	0.2×	0.1×	0.1×	0.0×	0.0×	0.0×	+0.0%
Debt / assets	10.7%	7.0%	7.1%	2.9%	2.1%	0.9%	—	—
Interest coverage	−12.4×	5.6×	588.6×	1,334.5×	0.0×	0.0×	—	—
Current ratio	1.8×	1.7×	1.9×	1.9×	2.2×	2.4×	2.4×	+0.0%
Quick ratio	1.8×	1.7×	1.9×	1.9×	2.2×	2.4×	—	—
Cash ratio	0.3×	0.1×	0.3×	0.4×	0.3×	0.9×	0.9×	+0.0%
Asset turnover	0.4×	0.5×	0.6×	0.7×	0.8×	0.7×	—	—
Inventory turnover	11.2×	2,234.3×	—	−767.9×	96.2×	—	—	—
Receivables turnover	15.2×	27.0×	39.0×	33.3×	32.4×	28.2×	—	—
Dividend payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—

Margins, returns, leverage and liquidityUpdated 31 Dec 2025 ·

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Current snapshot ratios have no reporting date and are shown separately from fiscal periods.