PDD Holdings (PDD) Debt Ratio (2019 - 2025)
PDD Holdings (PDD) posted Debt Ratio of 0.0 for Q4 2025, up 90147.56% sequentially from 0.0 in Q3 2025, and down 83.6% YoY from 0.01 in Q4 2024.
Analysis
PDD Holdings (PDD) Debt Ratio (2019 - 2025) Analysis & Trends
PDD Holdings has reported Debt Ratio for 9 years, with the latest figure at 0.0 in Q4 2025.
- Quarterly Debt Ratio fell 83.6% year-over-year to 0.0 in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 0.0 (down 83.6% YoY) and the FY2025 annual result came in at 0.0, down 84.29% from the prior year.
- Debt Ratio grew to 0.0 in Q4 2025 per PDD's latest filing, from 0.0 in the prior quarter.
- Over five years, Debt Ratio peaked at 43652.08 in Q3 2021 and troughed at 0.0 in Q3 2025.
- A 5-year average of 4620.0 and a median of 0.0 in 2022 frame the typical range for Debt Ratio.
- The sharpest annual moves came in 2022 and 2023: Debt Ratio plunged 100.0% in 2022, then soared 67533438284.83% in 2023.
- Over 5 years, Debt Ratio stood at 0.01 in 2021, then jumped by 440.58% to 0.06 in 2022, then plunged by 96.82% to 0.0 in 2023, then jumped by 464.24% to 0.01 in 2024, then plunged by 83.6% to 0.0 in 2025.
- According to Business Quant data, Debt Ratio over the past three periods registered 0.0, 0.0, and 0.0 for Q4 2025, Q3 2025, and Q2 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,746.20 Bn | 2,623.21 Bn | 198.88 Bn | 0.12 |
| 2 | PDD Holdings | 116.28 Bn | -48,010.13 Bn | 9.45 Bn | - |
| 3 | DoorDash | 98.95 Bn | 93.61 Bn | 2.35 Bn | - |
| 4 | Mercadolibre | 98.90 Bn | 83.71 Bn | 4.16 Bn | 0.21 |
| 5 | Sea | 67.51 Bn | 59.11 Bn | 3.55 Bn | - |
| 6 | Ebay | 46.90 Bn | 43.59 Bn | 2.30 Bn | 0.38 |
| 7 | JD.com | 39.64 Bn | 7.09 Bn | 16.50 Bn | 0.03 |
| 8 | Coupang | 28.35 Bn | 22.24 Bn | 2.49 Bn | 0.15 |
| 9 | Wayfair | 12.44 Bn | 11.30 Bn | 1.05 Bn | 0.95 |
| 10 | Maplebear | 11.73 Bn | 10.88 Bn | 751.00 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | 0.00 |
| Jun 30, 2025 | 0.00 |
| Mar 31, 2025 | 9.99 |
| Dec 31, 2024 | 0.01 |
| Sep 30, 2024 | 0.01 |
| Jun 30, 2024 | 0.01 |
| Mar 31, 2024 | 0.01 |
| Dec 31, 2023 | 0.02 |
| Sep 30, 2023 | 0.05 |
| Jun 30, 2023 | 0.06 |
| Mar 31, 2023 | 0.06 |
| Dec 31, 2022 | 0.07 |
| Sep 30, 2022 | 75.32 |
| Jun 30, 2022 | 76.27 |
| Mar 31, 2022 | 83.32 |
| Dec 31, 2021 | 0.07 |
| Sep 30, 2021 | 70,165.64 |
| Jun 30, 2021 | 72,422.24 |
| Mar 31, 2021 | 74.97 |
| Dec 31, 2020 | 0.09 |