PDD Holdings (PDD) Net Margin (2017 - 2025)
PDD Holdings recorded quarterly Net Margin of 19.81% in Q4 2025, down 26.88% quarter-over-quarter from 27.09% in Q3 2025, and down 501.0% year-over-year from 4.94% in Q4 2024.
PDD Holdings' Net Margin history runs 9 years deep, the most recent figure standing at 19.81% for Q4 2025.
- In Q4 2025, Net Margin fell 501.0% year-over-year to 19.81%; the TTM figure through Dec 2025 stood at 23.01% (down 551.0% YoY), while the FY2025 annual figure 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.
- A 5-year average of 20.5% and a median of 24.28% in 2024 frame the typical range for Net Margin.
- Across the five-year window, Net Margin tumbled 7608 bps in 2021 and soared 2402 bps in 2022, its largest moves.
- PDD Holdings' Net Margin stood at 8.84% in 2021, then soared by 169 bps to 23.74% in 2022, then increased by 10 bps to 26.19% in 2023, then dropped by 5 bps to 24.81% in 2024, then decreased by 20 bps to 19.81% in 2025.
- According to Business Quant data, Net Margin over the past three periods registered 19.81%, 27.09%, and 29.57% for Q4 2025, Q3 2025, and Q2 2025 respectively.
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 19.81% |
| Sep 30, 2025 | 27.09% |
| Jun 30, 2025 | 29.57% |
| Mar 31, 2025 | 15.41% |
| Dec 31, 2024 | 24.81% |
| Sep 30, 2024 | 25.14% |
| Jun 30, 2024 | 32.98% |
| Mar 31, 2024 | 32.25% |
| Dec 31, 2023 | 26.19% |
| Sep 30, 2023 | 22.57% |
| Jun 30, 2023 | 25.07% |
| Mar 31, 2023 | 21.52% |
| Dec 31, 2022 | 23.74% |
| Sep 30, 2022 | 29.82% |
| Jun 30, 2022 | 28.74% |
| Mar 31, 2022 | 10.91% |
| Dec 31, 2021 | 8.84% |
| Sep 30, 2021 | 7.60% |
| Jun 30, 2021 | 11.03% |
| Mar 31, 2021 | -13.11% |
| Dec 31, 2020 | 5.18% |
| Sep 30, 2020 | 5.52% |
| Jun 30, 2020 | 7.38% |
| Mar 31, 2020 | 62.98% |
| Dec 31, 2019 | 16.23% |
| Sep 30, 2019 | 31.08% |
| Jun 30, 2019 | 13.76% |
| Mar 31, 2019 | 41.31% |
| Dec 31, 2018 | -42.63% |
| Sep 30, 2018 | -32.89% |
| Jun 30, 2018 | -248.97% |
| Mar 31, 2018 | -20.33% |
| Dec 31, 2017 | 1.15% |
| Sep 30, 2017 | -52.35% |
| Jun 30, 2017 | -104.71% |