PDD Holdings (PDD) Net Margin (2017 - 2025)

PDD Holdings has disclosed Net Margin across 9 years of filings, most recently posting 19.81% for Q4 2025.

• Net Margin for Q4 2025 came in at 19.81%, down 501.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 23.01% (down 551.0% YoY), and the FY2025 annual result was 22.66%, down 589.0% from the prior year.
• Net Margin came in at 19.81% for Q4 2025 at PDD Holdings, down from 27.09% in the prior quarter.
• In the past five years, Net Margin ranged from a high of 32.98% in Q2 2024 to a low of 13.11% in Q1 2021.
• The 5-year median for Net Margin is 24.56% (2021), against an average of 21.23%.
• Across the five-year window, Net Margin plunged 7608 bps in 2021 and soared 2403 bps in 2022, its largest moves.
• PDD Holdings' Net Margin stood at 24.31% in 2021, then retreated by 2 bps to 23.74% in 2022, then grew by 10 bps to 26.19% in 2023, then slipped by 5 bps to 24.81% in 2024, then retreated by 20 bps to 19.81% in 2025.
• The last three Net Margin figures came in at 19.81% (Q4 2025), 27.09% (Q3 2025), and 29.57% (Q2 2025), per Business Quant data.