PDD Holdings (PDD) Operating Leases (2019 - 2025)

PDD Holdings' Operating Leases history runs 7 years deep, the most recent figure standing at $758.4 million for Q4 2025.

• In Q4 2025, Operating Leases rose 70.68% year-over-year to $758.4 million; the TTM figure through Dec 2025 stood at $758.4 million (up 70.68% YoY), while the FY2025 annual figure was $769.2 million, up 5.98% from the prior year.
• Operating Leases came in at $758.4 million for Q4 2025 at PDD Holdings, up from $427.0 million in the prior quarter.
• In the past five years, Operating Leases ranged from a high of $758.4 million in Q4 2025 to a low of $63.8 million in Q1 2021.
• A 5-year average of $269.1 million and a median of $250.3 million in 2023 frame the typical range for Operating Leases.
• Across the five-year window, Operating Leases soared 650.38% in 2021 and dropped 1.63% in 2025, its largest moves.
• PDD Holdings' Operating Leases stood at $85.1 million in 2021, then jumped by 43.83% to $122.4 million in 2022, then soared by 199.96% to $367.3 million in 2023, then rose by 20.98% to $444.3 million in 2024, then surged 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, $427.0 million, and $455.1 million for Q4 2025, Q3 2025, and Q2 2025 respectively.

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