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

PDD Holdings (PDD) has 9 years of Net Margin data on file, last reported at 19.81% in Q4 2025.

• Quarterly Net Margin fell 501.0% year-over-year to 19.81% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 23.01% (down 551.0% YoY) and the FY2025 annual result came in at 22.66%, down 589.0% from the prior year.
• Net Margin fell to 19.81% in Q4 2025 per PDD's latest filing, from 27.09% in the prior quarter.
• The five-year high for Net Margin was 32.98% in Q2 2024, with the low at 13.11% in Q1 2021.
• Average Net Margin over 5 years is 21.23%, with a median of 24.56% recorded in 2021.
• Year-over-year, Net Margin slumped 7608 bps in 2021 and jumped 2403 bps in 2022.
• PDD Holdings' Net Margin stood at 24.31% in 2021, then dropped by 2 bps to 23.74% in 2022, then gained by 10 bps to 26.19% in 2023, then fell by 5 bps to 24.81% in 2024, then dropped by 20 bps to 19.81% in 2025.
• Business Quant data shows PDD's Net Margin at 19.81% in Q4 2025, 27.09% in Q3 2025, and 29.57% in Q2 2025.