PDD Holdings Ratios and Metrics

Market cap in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 10, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	724,920	886,643	833,087	943,217	545,105	407,106
Market Cap Growth	-26.74%	6.43%	-11.68%	73.03%	33.90%	-64.02%
Enterprise Value	422,261	567,038	570,133	821,459	455,341	333,222
Last Close Price	50.52	60.94	60.24	71.33	43.98	-
PE Ratio	9.26	11.33	8.74	22.96	22.55	59.75
PS Ratio	2.13	2.61	2.50	5.57	5.45	4.94
PB Ratio	2.22	2.71	3.14	7.36	6.04	6.18
P/TBV Ratio	2.22	2.71	3.14	7.36	6.05	6.24
P/FCF Ratio	-	10.53	8.13	14.73	14.86	18.21
P/OCF Ratio	8.61	10.53	8.06	14.64	14.66	16.13
EV/Sales Ratio	1.35	1.67	1.71	4.85	4.55	4.04
EV/EBITDA Ratio	5.96	7.55	6.17	20.18	18.21	45.27
EV/EBIT Ratio	6.14	7.61	6.21	20.45	19.54	55.09
EV/FCF Ratio	-	6.73	5.56	12.83	12.41	14.90
Debt / Equity Ratio	0.01	0.01	0.03	0.05	0.14	0.17
Debt / EBITDA Ratio	0.06	0.06	0.10	0.17	0.51	1.43
Debt / FCF Ratio	0.05	0.05	0.09	0.11	0.35	0.50
Net Debt / Equity Ratio	-1.00	-1.00	-1.02	-1.11	-1.12	-1.07
Net Debt / EBITDA Ratio	-4.37	-4.37	-2.94	-3.48	-4.06	-9.55
Net Debt / FCF Ratio	-3.90	-3.90	-2.65	-2.21	-2.77	-3.14
Asset Turnover	0.76	0.76	0.92	0.85	0.62	0.55
Quick Ratio	2.06	2.06	1.82	1.49	1.34	1.05
Current Ratio	2.45	2.45	2.21	1.93	1.85	1.72
Return on Equity (ROE)	27.29%	27.29%	44.92%	39.36%	32.70%	11.48%
Return on Assets (ROA)	10.42%	10.42%	15.89%	12.54%	9.08%	2.54%
Return on Capital Employed (ROCE)	22.60%	22.60%	34.20%	30.10%	25.30%	7.90%
Earnings Yield	10.79%	8.82%	11.44%	4.35%	4.44%	1.67%
FCF Yield	-	9.50%	12.30%	6.79%	6.73%	5.49%
Buyback Yield / Dilution	-0.22%	-0.22%	-1.32%	-1.36%	-0.83%	-19.83%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.