PDD Holdings Inc. (PDD)

PDD Holdings Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	393,836	247,639	130,558	93,950	59,492
Revenue Growth (YoY)	59.04%	89.68%	38.96%	57.92%	97.37%
Cost of Revenue	153,900	91,724	31,462	31,718	19,279
Gross Profit	239,936	155,916	99,095	62,232	40,213
Selling, General & Admin	118,854	87,643	59,041	46,869	42,911
Research & Development	12,659	9,574	9,653	8,466	6,682
Operating Expenses	131,513	97,217	68,693	55,335	49,594
Operating Income	108,423	58,699	30,402	6,897	-9,380
Interest Expense	-	-43.99	-51.66	-1,231	-757.34
Interest & Investment Income	20,553	10,238	3,997	3,062	2,455
Earnings From Equity Investments	17.23	-4.71	-155.29	246.83	83.65
Currency Exchange Gain (Loss)	587.87	35.72	-149.71	71.75	225.2
Other Non Operating Income (Expenses)	3,120	2,953	2,221	656.26	193.7
EBT Excluding Unusual Items	132,701	71,876	36,264	9,702	-7,180
Pretax Income	132,701	71,876	36,264	9,702	-7,180
Income Tax Expense	20,267	11,850	4,726	1,934	-
Net Income	112,435	60,027	31,538	7,769	-7,180
Net Income to Common	112,435	60,027	31,538	7,769	-7,180
Net Income Growth	87.31%	90.33%	305.96%	-	-
Shares Outstanding (Basic)	1,384	1,354	1,264	1,253	1,192
Shares Outstanding (Diluted)	1,479	1,460	1,440	1,428	1,192
Shares Change (YoY)	1.32%	1.36%	0.83%	19.83%	3.05%
EPS (Basic)	81.24	44.33	24.94	6.20	-6.02
EPS (Diluted)	76.00	41.15	21.93	5.44	-6.04
EPS Growth	84.70%	87.61%	303.17%	-	-
Free Cash Flow	121,929	93,579	47,872	25,496	28,154
Free Cash Flow Per Share	82.43	64.10	33.24	17.85	23.62
Gross Margin	60.92%	62.96%	75.90%	66.24%	67.59%
Operating Margin	27.53%	23.70%	23.29%	7.34%	-15.77%
Profit Margin	28.55%	24.24%	24.16%	8.27%	-12.07%
Free Cash Flow Margin	30.96%	37.79%	36.67%	27.14%	47.32%
EBITDA	109,209	59,485	32,626	8,392	-8,729
EBITDA Margin	27.73%	24.02%	24.99%	8.93%	-14.67%
D&A For EBITDA	786.24	786.24	2,224	1,495	651.52
EBIT	108,423	58,699	30,402	6,897	-9,380
EBIT Margin	27.53%	23.70%	23.29%	7.34%	-15.77%
Effective Tax Rate	15.27%	16.49%	13.03%	19.93%	-
Advertising Expenses	-	76,429	49,971	41,457	39,298

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

SEC Filings: 10-K · 10-Q