PDD Holdings (PDD) EBT Margin (2017 - 2026)

PDD Holdings has reported EBT Margin for 9 years, with the latest figure at 23.04% in Q4 2025.

• Quarterly EBT Margin fell 483.0% year-over-year to 23.04% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 26.51% (down 606.0% YoY) and the FY2025 annual result came in at 27.66%, down 603.0% from the prior year.
• EBT Margin retreated to 23.04% in Q4 2025 per PDD's latest filing, from 30.86% in the prior quarter.
• Over five years, EBT Margin peaked at 38.55% in Q2 2024 and troughed at 13.77% in Q1 2021.
• A 5-year average of 24.38% and a median of 28.04% in 2024 frame the typical range for EBT Margin.
• The sharpest annual moves came in 2021 and 2022: EBT Margin tumbled 7674 bps in 2021, then jumped 2721 bps in 2022.
• Over 5 years, EBT Margin stood at 28.21% in 2021, then dropped by 11 bps to 24.99% in 2022, then climbed by 17 bps to 29.15% in 2023, then decreased by 4 bps to 27.87% in 2024, then fell by 17 bps to 23.04% in 2025.
• According to Business Quant data, EBT Margin over the past three periods registered 23.04%, 30.86%, and 34.83% for Q4 2025, Q3 2025, and Q2 2025 respectively.