PDD Holdings Inc - ADR

PDD Holdings Inc - ADR

PDD

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Market Cap$108.96B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
PDD Holdings Inc - ADRPDD Holdings Inc - ADR7.5-23%0.3-

Earnings Call Q1 2026

May 27, 2026 - AI Summary

Solid topline/operating momentum; margins supported but net income down YoY (mixed picture) - Revenue: RMB 106.2bn in 1Q26, +11% YoY; driven mainly by transaction services. - Segment mix: Transaction services revenue RMB 56.3bn (+20% YoY); online marketing RMB 49.9bn (they mention “+” vs 48.7bn in 1Q25, i.e., modest growth). - Profitability (GAAP vs non-GAAP): GAAP operating profit RMB 19.6bn (+22% YoY); non-GAAP operating profit RMB 21.1bn with 20% margin (vs 19% in 1Q25). - Negative/earnings quality: Net income attributable to ordinary shareholders was RMB 12.5bn vs RMB 14.7bn in 1Q25 (down YoY). Non-GAAP net income also declined (RMB 14.1bn vs RMB 16.9bn), and non-GAAP diluted EPS fell (RMB 9.51 vs RMB 11.4). - Cash strength: Operating cash flow RMB 16.4bn (vs RMB 15.5bn). Cash/cash equivalents/short-term investments RMB 436.1bn as of 3/31/26.
Strategic theme: “Rebuild in the supply chain” + launch/scale first-party brand (major opportunity) - Management framed 2026 as the start of PDD’s second decade and a push for high-quality development and organizational/cultural reinvention focused on safety, compliance, and social responsibility. - Dedicated company in Chang’an was incorporated in March: formal launch of the first-party brand business with initial cash injection of RMB 15bn and a plan to invest RMB 100bn over the next few years. - The message: first-party brands are intended to move beyond homogeneous competition, enable SME manufacturers to brand/innovate, and create a virtuous cycle of better quality standards + compliance + consumer value.
Where investments are going (and expected financial timing)—but no clear quantified guidance - Management described first-party brand capabilities as spanning product design, standards setting, manufacturing/quality control, warehousing & fulfillment, legal compliance, customer service, etc. - They positioned the RMB 100bn plan as long-term “patient capital”; they did not provide a specific timeline for when the investment will show up in financials beyond “over the next few years.” - Expected mechanism for growth: by internalizing/absorbing some innovation risk and providing sales-volume certainty to factories, PDD hopes to improve supply-chain efficiency and enable differentiated products (which should ultimately support higher-value economics vs relying on marketing alone).

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$106.50

Target Price by Analysts

29.3% upsidePDD Holdings Target Price DetailsTarget Price
$275.41

Current Fair Value

234.3% upside

Undervalued by 234.3% based on the discounted cash flow analysis.

Share Statistics

Market cap$108.96 Billion
Enterprise Value$-80,938,129,829.00
Dividend Yield$- (-)
Earnings per Share$69.16
Beta-0.02
Outstanding Shares1,404,000,000

Return

Return on Equity22.94%ROE
Return on Assets15.23%
Return on Invested Capital25.66%

Valuation & Multiples

P/E Ratio7.5P/E Ratio
PEG-48.68PEG
Price to Sales0.26Price to Sales
Price to Book Ratio0.27Price to Book Ratio
Enterprise Value to Revenue-0.18
Enterprise Value to EBIT-0.74
Enterprise Value to Net Income-1
Total Debt to Enterprise-0.11
Debt to Equity0.02Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 27, 2026
EPS Estimate
$2.40
Average shareholder expectation
Revenue Estimate
$15.92 B
Average shareholder expectation

Next Earnings Call

Expected Date
August 24, 2026
EPS Estimate
$2.73
Average shareholder expectation
Revenue Estimate
$17.04 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio1.0119▼ 31.81%
Total Calls26,131,384▼ 20.77%
Total Puts26,442,428▼ 39.72%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %29.18%▼ 1.06%
Total Invested$42.03B▼ 12.28%
Investors Holding638▼ 11.00%

ESG Score

No data

About Pinduoduo Inc

Relevant Senate Committees

Joint Committee on Taxation

This committee provides the crucial analysis and scoring for all tax legislation, directly influencing corporate tax structures and the overall tax burden on companies like PDD.

Finance

This committee controls taxation (corporate tax, tariffs) and trade policy, which directly impacts PDD's profitability, pricing, and access to international supply chains and markets as an e-commerce giant.

Judiciary

This committee's jurisdiction over antitrust laws and intellectual property directly impacts PDD, especially regarding market competition, mergers, and protection against counterfeiting on its platform.

Select Committee on Intelligence

Given PDD's Chinese origin and significant data operations, this committee's oversight of the Intelligence Community could lead to classified information or actions related to national security risks from foreign tech platforms, directly impacting PDD.

Commerce, Science, and Transportation

This committee directly regulates interstate commerce, consumer protection (FTC), data privacy, and telecommunications, all of which are critical to PDD's e-commerce platform.

Foreign Relations

PDD's international operations and supply chains are highly sensitive to U.S. foreign policy, trade relations, and potential sanctions, which are directly influenced by this committee.

Homeland Security and Governmental Affairs

As a foreign-based e-commerce platform, PDD Holdings could face scrutiny regarding data security, supply chain risks, and national security implications, falling under this committee's oversight of government operations and emerging risks.