PDD Holdings (PDD) Invested Capital (2017 - 2025)
PDD Holdings (PDD) posted Invested Capital of $153.2 million for Q4 2025, down 7.01% sequentially from $164.7 million in Q3 2025, and down 79.28% YoY from $739.2 million in Q4 2024.
PDD Holdings (PDD) Invested Capital (2017 - 2025) Analysis & Trends
PDD Holdings has reported Invested Capital for 9 years, with the latest figure at $153.2 million in Q4 2025.
- Quarterly Invested Capital fell 79.28% year-over-year to $153.2 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $632.6 million (down 48.88% YoY) and the FY2025 annual result came in at $151.2 million, down 79.54% from the prior year.
- Invested Capital fell to $153.2 million in Q4 2025 per PDD's latest filing, from $164.7 million in the prior quarter.
- Over five years, Invested Capital peaked at $2.0 billion in Q4 2022 and troughed at $90.1 million in Q4 2023.
- A 5-year average of $449.2 million and a median of $283.5 million in 2023 frame the typical range for Invested Capital.
- The sharpest annual moves came in 2023 and 2024: Invested Capital tumbled 95.39% in 2023, then jumped 720.6% in 2024.
- Over 5 years, Invested Capital stood at $307.0 million in 2021, then surged by 535.89% to $2.0 billion in 2022, then slumped by 95.39% to $90.1 million in 2023, then surged by 720.6% to $739.2 million in 2024, then tumbled by 79.28% to $153.2 million in 2025.
- According to Business Quant data, Invested Capital over the past three periods registered $153.2 million, $164.7 million, and $162.0 million for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,931.64 Bn | 2,808.66 Bn | 198.88 Bn | - |
| 2 | PDD Holdings | 506.17 Bn | 446.63 Bn | 9.83 Bn | 153.19 Mn |
| 3 | Mercadolibre | 98.29 Bn | 83.09 Bn | 4.16 Bn | 6.48 Bn |
| 4 | DoorDash | 92.11 Bn | 86.76 Bn | 2.35 Bn | - |
| 5 | JD.com | 87.50 Bn | 58.32 Bn | 7.66 Bn | - |
| 6 | Sea | 78.22 Bn | 69.70 Bn | 3.15 Bn | 416.52 Mn |
| 7 | Ebay | 47.18 Bn | 43.87 Bn | 2.30 Bn | 6.74 Bn |
| 8 | Coupang | 29.74 Bn | 23.63 Bn | 2.49 Bn | 1.99 Bn |
| 9 | Zkh | 16.36 Bn | 16.36 Bn | 51.11 Mn | 33,205.27 |
| 10 | Wayfair | 13.66 Bn | 12.51 Bn | 1.05 Bn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 153.19 Mn |
| Sep 30, 2025 | 164.74 Mn |
| Jun 30, 2025 | 162.00 Mn |
| Mar 31, 2025 | 152.69 Mn |
| Dec 31, 2024 | 739.18 Mn |
| Sep 30, 2024 | 150.11 Mn |
| Jun 30, 2024 | 158.52 Mn |
| Mar 31, 2024 | 189.73 Mn |
| Dec 31, 2023 | 90.08 Mn |
| Sep 30, 2023 | 280.48 Mn |
| Jun 30, 2023 | 261.57 Mn |
| Mar 31, 2023 | 286.50 Mn |
| Dec 31, 2022 | 1.95 Bn |
| Sep 30, 2022 | 380.20 Mn |
| Jun 30, 2022 | 372.47 Mn |
| Mar 31, 2022 | 321.76 Mn |
| Dec 31, 2021 | 307.03 Mn |
| Sep 30, 2021 | 1.12 Bn |
| Jun 30, 2021 | 984.41 Mn |
| Mar 31, 2021 | 753.65 Mn |