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PDD Holdings Inc. (PDD)
NASDAQ: PDD · Real-Time Price · USD
84.00
-1.69 (-1.97%)
At close: Aug 31, 2026, 4:00 PM EDT
83.84
-0.16 (-0.19%)
Pre-market: Sep 1, 2026, 4:18 AM EDT

PDD Holdings Cash Flow Statement

Millions CNY. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Net Income
27,18212,54723,01929,32830,75314,74227,44724,98132,00927,99823,28015,53713,1088,1019,45410,5898,8962,5996,6201,640
Depreciation & Amortization
--3,000---2,641---1,888---2,735---1,844-
Loss (Gain) From Sale of Assets
--3.06---3.86---1.76---10.7----0.26-
Loss (Gain) From Sale of Investments
---10,406----6,816----1,013---242.24---22.17-
Loss (Gain) on Equity Investments
---129.01----17.23---4.71---155.29----246.83-
Stock-Based Compensation
--7,937---9,884---7,079---7,718---4,775-
Provision & Write-off of Bad Debts
--313.08---329.9---265.16---118.38---49.3-
Other Operating Activities
-1,5123,898-6,98516,332-9,112775.11-10,5872,54211,783-6,931-21,07117,00110,288-6,763-1,3071,06310,478-11,668-10,2257,097
Change in Accounts Receivable
---1,524---48.81----3,326---86.04---55.81-
Change in Accounts Payable
--15,328---16,885---11,623---749.37---8,686-
Change in Unearned Revenue
--431.75---802.43---754.96---222.89----1,256-
Change in Other Net Operating Assets
---6,869----11,073---17,405---6,365---6,076-
Operating Cash Flow
25,67016,44524,12045,66121,64215,51729,54727,52243,79321,06736,89132,53823,3961,33826,55011,65219,374-9,06816,4008,737
Operating Cash Flow Growth (YoY)
18.61%5.98%-18.37%65.90%-50.58%-26.35%-19.91%-15.41%87.18%1474.50%38.95%179.25%20.76%-61.89%33.37%162.83%-9.72%4.98%

Investing Activities

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Capital Expenditures
---1,145----967.14----583.88----635.72----3,287-
Sale of Property, Plant & Equipment
----------0.45---0.04---0.39-
Investment in Securities
---42,078----117,425----54,978----21,726----32,721-
Other Investing Activities
-19,9742,08244,762-11,556-27,022-6,38487,846-16,899-42,622-28,29039,090-4,821-11,520-22,62013,802-356.39-8,593-4,85223,315-13,765
Investing Cash Flow
-19,9742,0821,538-11,556-27,022-6,384-30,545-16,899-42,622-28,290-16,471-4,821-11,520-22,620-8,560-356.39-8,593-4,852-12,693-13,765

Financing Activities

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Total Debt Repaid
---5,229----0.09----8,969--------1,875-
Net Debt Issued (Repaid)
---5,229----0.09----8,969--------1,875-
Other Financing Activities
--0.240.550.350.220.370.130.730.030.520.397.230.059.510.260.270.041,8760.15
Financing Cash Flow
---5,2280.550.350.220.270.130.730.03-8,9680.397.230.059.510.260.270.040.190.15

Net Cash Flow

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Foreign Exchange Rate Adjustments
1,242-2,005-1,087-616.0921.88-69.521,504-1,052240.74147.92-1,025201.06881.11-348.25-109.37250.23-50.8410.16-26.4522.16
Net Cash Flow
6,93816,52219,34233,489-5,3589,064505.939,5721,412-7,07510,42727,91912,764-21,63017,89011,54610,730-13,9103,681-5,006

Free Cash Flow

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Free Cash Flow
25,67016,44522,97445,66121,64215,51728,58027,52243,79321,06736,30732,53823,3961,33825,91511,65219,374-9,06813,1138,737
Free Cash Flow Growth (YoY)
18.61%5.98%-19.61%65.90%-50.58%-26.35%-21.28%-15.41%87.18%1474.50%40.10%179.25%20.76%-97.63%33.37%162.83%--12.02%4.98%
Free Cash Flow Margin
22.85%15.48%18.54%42.17%20.81%16.22%25.84%27.70%45.12%24.27%40.85%47.27%44.75%3.55%65.08%32.82%61.62%-38.11%48.15%40.62%
Free Cash Flow Per Share
17.4211.1115.4530.6814.6010.4619.2918.6329.5614.2724.6922.1916.040.9217.848.0713.55-6.389.236.13
Levered Free Cash Flow
19,8977,44715,55731,34117,29921,43317,38023,10541,68521,00026,88926,62520,9388,43916,3388,36710,2823,6856,0133,555
Unlevered Free Cash Flow
19,8977,84215,55731,34117,29921,43317,38023,10541,68521,00026,89426,63220,9458,44616,3468,37610,2913,6926,2033,741

Additional Metrics

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Cash Income Tax Paid
--21,603---17,493---5,764---4,881-----
Change in Working Capital
--7,367---6,663---26,456---7,423---13,562-
SEC Filings: 10-K · 10-Q