PDD Holdings (PDD) Operating Leases (2018 - 2025)
PDD Holdings (PDD) posted Operating Leases of $758.4 million for Q4 2025, up 70.68% sequentially from $444.3 million in Q4 2024, and up 70.68% YoY from $444.3 million in Q4 2024.
PDD Holdings (PDD) Operating Leases (2018 - 2025) Analysis & Trends
PDD Holdings has reported Operating Leases for 8 years, with the latest figure at $758.4 million in Q4 2025.
- Quarterly Operating Leases rose 70.68% year-over-year to $758.4 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $758.4 million (up 70.68% YoY) and the FY2025 annual result came in at $769.2 million, up 5.98% from the prior year.
- Operating Leases improved to $758.4 million in Q4 2025 per PDD's latest filing, from $444.3 million in the prior quarter.
- Over five years, Operating Leases peaked at $758.4 million in Q4 2025 and troughed at $85.1 million in Q4 2021.
- A 5-year average of $355.5 million and a median of $367.3 million in 2023 frame the typical range for Operating Leases.
- The sharpest annual moves came in 2023 and 2024: Operating Leases soared 199.96% in 2023, then climbed 20.98% in 2024.
- Over 5 years, Operating Leases stood at $85.1 million in 2021, then surged by 43.83% to $122.4 million in 2022, then jumped by 199.96% to $367.3 million in 2023, then gained by 20.98% to $444.3 million in 2024, then soared by 70.68% to $758.4 million in 2025.
- According to Business Quant data, Operating Leases over the past three periods registered $758.4 million, $444.3 million, and $367.3 million for Q4 2025, Q4 2024, and Q4 2023 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Amazon Com | 2,934.50 Bn | 2,811.51 Bn | 198.88 Bn |
| 2 | PDD Holdings | 507.07 Bn | 447.53 Bn | 9.83 Bn |
| 3 | Mercadolibre | 97.53 Bn | 82.34 Bn | 4.16 Bn |
| 4 | DoorDash | 93.15 Bn | 87.80 Bn | 2.35 Bn |
| 5 | JD.com | 87.38 Bn | 58.20 Bn | 7.66 Bn |
| 6 | Sea | 78.04 Bn | 69.52 Bn | 3.15 Bn |
| 7 | Ebay | 47.73 Bn | 44.42 Bn | 2.30 Bn |
| 8 | Coupang | 29.85 Bn | 23.74 Bn | 2.49 Bn |
| 9 | Zkh | 16.25 Bn | 16.25 Bn | 51.11 Mn |
| 10 | Wayfair | 13.70 Bn | 12.56 Bn | 1.05 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 758.37 Mn |
| Dec 31, 2024 | 444.32 Mn |
| Dec 31, 2023 | 367.25 Mn |
| Dec 31, 2022 | 122.44 Mn |
| Dec 31, 2021 | 85.13 Mn |
| Dec 31, 2020 | 62.61 Mn |
| Sep 30, 2020 | 428.59 Mn |
| Dec 31, 2019 | 60.81 Mn |
| Dec 31, 2018 | 25.26 Mn |