PDD Holdings (PDD) Research & Development (2017 - 2026)
PDD Holdings (PDD) reported Research & Development of -$673 million for the quarter ended Jun 30, 2026, compared with -$501.32 million a year earlier.
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Analysis
PDD Holdings (PDD) Research & Development (2017 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, PDD Holdings' Research & Development came in at -$2.64 billion; for the year ended Dec 31, 2025, it was $2.36 billion, up 36.0% from the prior year.
- Research & Development has increased for four consecutive years.
- By year, Research & Development came in at $1.73 billion in the year ended Dec 31, 2024 (+12.4%), $1.54 billion in the year ended Dec 31, 2023 (+2.5%), $1.51 billion in the year ended Dec 31, 2022 (+6.7%) and $1.41 billion in the year ended Dec 31, 2021.
- Five-year quarterly Research & Development spans a low of -$714.26 million in the quarter ended Dec 31, 2025 and a high of -$317.39 million in the quarter ended Dec 31, 2021.
- Per Business Quant data, the three quarters before the quarter ended Jun 30, 2026 came in at -$640 million (quarter ended Mar 31, 2026), -$714.26 million (quarter ended Dec 31, 2025) and -$608.54 million (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,273.02 Bn | 4,030.55 Bn | 73.85 Bn | 18.22 Bn |
| 2 | Meta Platforms | 1,882.67 Bn | 1,585.19 Bn | 49.47 Bn | 21.66 Bn |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 1.01 Bn |
| 4 | Alibaba Group Holding | 258.66 Bn | 82.26 Bn | 15.11 Bn | -3.32 Bn |
| 5 | Shopify | 221.29 Bn | 198.47 Bn | 1.71 Bn | 445.00 Mn |
| 6 | Uber Technologies | 145.86 Bn | 117.84 Bn | 6.38 Bn | 1.04 Bn |
| 7 | Booking Holdings | 120.48 Bn | 53.53 Bn | - | - |
| 8 | PDD Holdings | 115.79 Bn | -126.92 Bn | 9.45 Bn | -673.00 Mn |
| 9 | Spotify Technology | 108.98 Bn | 66.21 Bn | 1.86 Bn | 468.43 Mn |
| 10 | Airbnb | 97.86 Bn | 51.09 Bn | 2.98 Bn | 672.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -673.00 Mn |
| Mar 31, 2026 | -640.00 Mn |
| Dec 31, 2025 | -714.26 Mn |
| Sep 30, 2025 | -608.54 Mn |
| Jun 30, 2025 | -501.32 Mn |
| Mar 31, 2025 | -493.04 Mn |
| Dec 31, 2024 | -517.47 Mn |
| Sep 30, 2024 | -436.52 Mn |
| Jun 30, 2024 | -400.32 Mn |
| Mar 31, 2024 | -402.98 Mn |
| Dec 31, 2023 | -403.45 Mn |
| Sep 30, 2023 | -390.26 Mn |
| Jun 30, 2023 | -377.03 Mn |
| Mar 31, 2023 | -365.00 Mn |
| Dec 31, 2022 | -348.94 Mn |
| Sep 30, 2022 | -379.30 Mn |
| Jun 30, 2022 | -389.87 Mn |
| Mar 31, 2022 | -420.95 Mn |
| Dec 31, 2021 | -317.39 Mn |
| Sep 30, 2021 | -375.95 Mn |
API Access
PDD Holdings Research & Development 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=research-and-development&ticker=PDD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=PDD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();