PDD Holdings (PDD) Notes Payables (2017 - 2025)
PDD Holdings (PDD) posted Notes Payables of $2.5 billion for Q4 2025, up 1.98% sequentially from $2.4 billion in Q3 2025, and up 8.95% YoY from $2.3 billion in Q4 2024.
PDD Holdings (PDD) Notes Payables (2017 - 2025) Analysis & Trends
PDD Holdings has reported Notes Payables for 9 years, with the latest figure at $2.5 billion in Q4 2025.
- Quarterly Notes Payables rose 8.95% year-over-year to $2.5 billion in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $2.5 billion (up 8.95% YoY) and the FY2025 annual result came in at $2.5 billion, up 12.29% from the prior year.
- Notes Payables advanced to $2.5 billion in Q4 2025 per PDD's latest filing, from $2.4 billion in the prior quarter.
- Over five years, Notes Payables peaked at $2.5 billion in Q4 2025 and troughed at $96.9 million in Q1 2021.
- A 5-year average of $2.2 billion and a median of $2.3 billion in 2023 frame the typical range for Notes Payables.
- The sharpest annual moves came in 2021 and 2022: Notes Payables slumped 67.55% in 2021, then jumped 2171.33% in 2022.
- Over 5 years, Notes Payables stood at $2.1 billion in 2021, then decreased by 0.3% to $2.1 billion in 2022, then increased by 10.72% to $2.3 billion in 2023, then fell by 2.25% to $2.3 billion in 2024, then rose by 8.95% to $2.5 billion in 2025.
- According to Business Quant data, Notes Payables over the past three periods registered $2.5 billion, $2.4 billion, and $2.4 billion for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Amazon Com | 2,924.81 Bn | 2,801.82 Bn | 198.88 Bn |
| 2 | PDD Holdings | 507.43 Bn | 447.89 Bn | 9.83 Bn |
| 3 | Mercadolibre | 97.63 Bn | 82.44 Bn | 4.16 Bn |
| 4 | DoorDash | 92.84 Bn | 87.49 Bn | 2.35 Bn |
| 5 | JD.com | 87.50 Bn | 58.32 Bn | 7.66 Bn |
| 6 | Sea | 78.11 Bn | 69.60 Bn | 3.15 Bn |
| 7 | Ebay | 47.53 Bn | 44.23 Bn | 2.30 Bn |
| 8 | Coupang | 29.77 Bn | 23.66 Bn | 2.49 Bn |
| 9 | Zkh | 16.08 Bn | 16.08 Bn | 51.11 Mn |
| 10 | Wayfair | 13.71 Bn | 12.57 Bn | 1.05 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 2.50 Bn |
| Sep 30, 2025 | 2.45 Bn |
| Jun 30, 2025 | 2.39 Bn |
| Mar 31, 2025 | 2.29 Bn |
| Dec 31, 2024 | 2.29 Bn |
| Sep 30, 2024 | 2.39 Bn |
| Jun 30, 2024 | 2.47 Bn |
| Mar 31, 2024 | 2.39 Bn |
| Dec 31, 2023 | 2.34 Bn |
| Sep 30, 2023 | 2.23 Bn |
| Jun 30, 2023 | 2.22 Bn |
| Mar 31, 2023 | 2.28 Bn |
| Dec 31, 2022 | 2.12 Bn |
| Sep 30, 2022 | 2.13 Bn |
| Jun 30, 2022 | 2.21 Bn |
| Mar 31, 2022 | 2.20 Bn |
| Dec 31, 2021 | 2.12 Bn |
| Sep 30, 2021 | 2.01 Bn |
| Jun 30, 2021 | 1.96 Bn |
| Mar 31, 2021 | 96.92 Mn |