PDD Holdings (PDD) Net Margin (2017 - 2026)
PDD Holdings' Net Margin came in at 24.19% for the quarter ended Jun 30, 2026, down 5.10 percentage points from 29.29% a year earlier but up 12.38 percentage points from the prior quarter.
PDD Holdings (PDD) Net Margin (2017 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, PDD Holdings reported Net Margin of 20.70%, down 3.15 percentage points year-over-year; for the year ended Dec 31, 2025, it was 22.66%, down 5.89 percentage points from the prior year.
- Net Margin carries a five-year change of +28.47 percentage points (years ended Dec 2020 to Dec 2025).
- Going back by year, Net Margin was 28.55% in the year ended Dec 31, 2024 (+14.86 pp), 13.69% in the year ended Dec 31, 2023 (+5.20 pp), 8.49% in the year ended Dec 31, 2022 (+4.99 pp) and 3.50% in the year ended Dec 31, 2021 (+9.31 pp).
- The five-year range for quarterly Net Margin is 7.63% (the quarter ended Sep 30, 2021) to 32.98% (the quarter ended Jun 30, 2024).
- Year-over-year, Net Margin has declined for three consecutive quarters, with an average year-over-year change of -3.91 percentage points over the last eight quarters.
- The fastest year-over-year change in Net Margin over five years came in the quarter ended Mar 31, 2022 (a gain of 24.03 percentage points), and the weakest in the quarter ended Mar 31, 2025 (a drop of 16.87 percentage points).
- Business Quant data shows PDD's Net Margin at 11.81% (quarter ended Mar 31, 2026), 19.81% (quarter ended Dec 31, 2025) and 26.94% (quarter ended Sep 30, 2025) in the three quarters before the quarter ended Jun 30, 2026.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,273.02 Bn | 4,030.55 Bn | 73.85 Bn | 93.58% |
| 2 | Meta Platforms | 1,882.67 Bn | 1,585.19 Bn | 49.47 Bn | 26.07% |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 27.08% |
| 4 | Alibaba Group Holding | 258.66 Bn | 82.26 Bn | 15.11 Bn | 3.92% |
| 5 | Shopify | 221.29 Bn | 198.47 Bn | 1.71 Bn | 41.92% |
| 6 | Uber Technologies | 145.86 Bn | 117.84 Bn | 6.38 Bn | 16.87% |
| 7 | Booking Holdings | 120.48 Bn | 53.53 Bn | - | 26.52% |
| 8 | PDD Holdings | 115.79 Bn | -126.92 Bn | 9.45 Bn | 25.36% |
| 9 | Spotify Technology | 108.98 Bn | 66.21 Bn | 1.86 Bn | 11.41% |
| 10 | Airbnb | 97.86 Bn | 51.09 Bn | 2.98 Bn | 22.62% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 25.36% |
| Mar 31, 2026 | 13.25% |
| Dec 31, 2025 | 19.81% |
| Sep 30, 2025 | 28.98% |
| Jun 30, 2025 | 31.45% |
| Mar 31, 2025 | 17.68% |
| 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 | 28.30% |
| Mar 31, 2022 | 10.92% |
| Dec 31, 2021 | 24.31% |
| Sep 30, 2021 | 7.63% |
PDD Holdings Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=PDD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "PDD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=PDD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();