PDD Holdings Inc. (LON:0A2S)

PDD Holdings Income Statement

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	402,696	393,836	247,639	130,558	93,950	59,492
Revenue Growth (YoY)	35.67%	59.04%	89.68%	38.96%	57.92%	97.37%
Cost of Revenue	162,153	153,900	91,724	31,462	31,718	19,279
Gross Profit	240,543	239,936	155,916	99,095	62,232	40,213
Selling, General & Admin	130,896	121,068	87,643	59,041	46,869	42,911
Research & Development	11,113	10,445	9,574	9,653	8,466	6,682
Operating Expenses	142,009	131,513	97,217	68,693	55,335	49,594
Operating Income	98,535	108,423	58,699	30,402	6,897	-9,380
Interest Expense	-	-	-43.99	-51.66	-1,231	-757.34
Interest & Investment Income	15,728	20,553	10,238	3,997	3,062	2,455
Earnings From Equity Investments	-35.53	17.23	-4.71	-155.29	246.83	83.65
Currency Exchange Gain (Loss)	131.21	587.87	35.72	-149.71	71.75	225.2
Other Non Operating Income (Expenses)	4,500	3,120	2,953	2,221	656.26	193.7
EBT Excluding Unusual Items	118,858	132,701	71,876	36,264	9,702	-7,180
Pretax Income	118,858	132,701	71,876	36,264	9,702	-7,180
Income Tax Expense	19,680	20,267	11,850	4,726	1,934	-
Net Income	99,179	112,435	60,027	31,538	7,769	-7,180
Net Income to Common	99,179	112,435	60,027	31,538	7,769	-7,180
Net Income Growth	24.09%	87.31%	90.33%	305.96%	-	-
Shares Outstanding (Basic)	1,388	1,384	1,354	1,264	1,253	1,192
Shares Outstanding (Diluted)	1,481	1,479	1,460	1,440	1,428	1,192
Shares Change (YoY)	1.18%	1.32%	1.36%	0.83%	19.83%	3.05%
EPS (Basic)	71.47	81.24	44.33	24.94	6.20	-6.02
EPS (Diluted)	66.99	76.00	41.15	21.93	5.44	-6.04
EPS Growth	22.63%	84.70%	87.61%	303.17%	-	-
Free Cash Flow	115,412	120,962	93,579	47,872	25,496	28,154
Free Cash Flow Per Share	77.94	81.78	64.10	33.24	17.85	23.62
Gross Margin	59.73%	60.92%	62.96%	75.90%	66.24%	67.59%
Operating Margin	24.47%	27.53%	23.70%	23.29%	7.34%	-15.77%
Profit Margin	24.63%	28.55%	24.24%	24.16%	8.27%	-12.07%
Free Cash Flow Margin	28.66%	30.71%	37.79%	36.67%	27.14%	47.32%
EBITDA	99,224	109,132	59,485	32,626	8,392	-8,729
EBITDA Margin	24.64%	27.71%	24.02%	24.99%	8.93%	-14.67%
D&A For EBITDA	689.4	708.76	786.24	2,224	1,495	651.52
EBIT	98,535	108,423	58,699	30,402	6,897	-9,380
EBIT Margin	24.47%	27.53%	23.70%	23.29%	7.34%	-15.77%
Effective Tax Rate	16.56%	15.27%	16.49%	13.03%	19.93%	-
Advertising Expenses	-	68,474	56,415	18,921	41,457	39,298

Updated Mar 20, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.