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PDD Holdings Valuation Multiples

Discover revenue and EBITDA valuation multiples for PDD Holdings and similar public comparables like Kogan.com, BIKE24, and Adore Beauty.

PDD Holdings Overview

About PDD Holdings

PDD Holdings operates commerce businesses in over 80 countries globally. Its main operations are Pinduoduo, a social commerce platform in China, and Temu, a global e-commerce marketplace. PDD also has a community group purchase business in China. PDD has built a network of sourcing, logistics, and fulfillment capabilities that support its underlying businesses.


Founded

2015

HQ

United States of America
Employees

17.4K+

Website

pddholdings.com

Financials

LTM Revenue $7.9B

LTM EBITDA $2.2B

EV

$87.6B

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PDD Holdings Financials

PDD Holdings has a last 12-month revenue of $7.9B and a last 12-month EBITDA of $2.2B.

In the most recent fiscal year, PDD Holdings achieved revenue of $248B and an EBITDA of $73.8B.

PDD Holdings expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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PDD Holdings P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $131B $248B XXX XXX XXX
Gross Profit $62.2B $99.1B XXX XXX XXX
Gross Margin 48% 40% XXX XXX XXX
EBITDA $39.2B $73.8B XXX XXX XXX
EBITDA Margin 30% 30% XXX XXX XXX
Net Profit $7.8B $31.5B XXX XXX XXX
Net Margin 6% 13% XXX XXX XXX
Net Debt $5.4B n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

PDD Holdings Stock Performance

As of April 15, 2025, PDD Holdings's stock price is $95.

PDD Holdings has current market cap of $132B, and EV of $87.6B.

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PDD Holdings Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$87.6B $132B XXX XXX XXX XXX $11.62

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PDD Holdings Valuation Multiples

As of April 15, 2025, PDD Holdings has market cap of $132B and EV of $87.6B.

PDD Holdings's trades at 1.5x LTM EV/Revenue multiple, and 5.4x LTM EBITDA.

Analysts estimate PDD Holdings's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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PDD Holdings Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $87.6B XXX XXX XXX
EV/Revenue 0.4x XXX XXX XXX
EV/EBITDA 1.2x XXX XXX XXX
P/E 2.2x XXX XXX XXX
P/E/Growth -0.1x XXX XXX XXX
EV/FCF 0.9x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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PDD Holdings Valuation Multiples

PDD Holdings's NTM/LTM revenue growth is 19%

PDD Holdings's revenue per employee for the last fiscal year averaged $14.2M, while opex per employee averaged $5.6M for the same period.

Over next 12 months, PDD Holdings's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate PDD Holdings's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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PDD Holdings Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 90% XXX XXX XXX XXX
EBITDA Margin 30% XXX XXX XXX XXX
EBITDA Growth 88% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 49% XXX XXX XXX XXX
Revenue per Employee $14.2M XXX XXX XXX XXX
Opex per Employee $5.6M XXX XXX XXX XXX
S&M Expenses to Revenue 33% XXX XXX XXX XXX
G&A Expenses to Revenue 2% XXX XXX XXX XXX
R&D Expenses to Revenue 4% XXX XXX XXX XXX
Opex to Revenue 39% XXX XXX XXX XXX

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PDD Holdings Public Comps

See public comps and valuation multiples for Consumer E-commerce and Horizontal Marketplaces comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Brillia Inc XXX XXX XXX XXX XXX XXX
Adore Beauty XXX XXX XXX XXX XXX XXX
Kogan.com XXX XXX XXX XXX XXX XXX
Temple & Webster XXX XXX XXX XXX XXX XXX
BIKE24 XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

PDD Holdings M&A and Investment Activity

PDD Holdings acquired  XXX companies to date.

Last acquisition by PDD Holdings was  XXXXXXXX, XXXXX XXXXX XXXXXX . PDD Holdings acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by PDD Holdings

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About PDD Holdings

When was PDD Holdings founded? PDD Holdings was founded in 2015.
Where is PDD Holdings headquartered? PDD Holdings is headquartered in United States of America.
How many employees does PDD Holdings have? As of today, PDD Holdings has 17.4K+ employees.
Who is the CEO of PDD Holdings? PDD Holdings's CEO is Mr. Lei Chen.
Is PDD Holdings publicy listed? Yes, PDD Holdings is a public company listed on NAS.
What is the stock symbol of PDD Holdings? PDD Holdings trades under PDD ticker.
When did PDD Holdings go public? PDD Holdings went public in 2018.
Who are competitors of PDD Holdings? Similar companies to PDD Holdings include e.g. Brillia Inc, Adore Beauty, Kogan.com, Temple & Webster.
What is the current market cap of PDD Holdings? PDD Holdings's current market cap is $132B
What is the current revenue of PDD Holdings? PDD Holdings's last 12-month revenue is $7.9B.
What is the current EBITDA of PDD Holdings? PDD Holdings's last 12-month EBITDA is $2.2B.
What is the current EV/Revenue multiple of PDD Holdings? Current revenue multiple of PDD Holdings is 1.5x.
What is the current EV/EBITDA multiple of PDD Holdings? Current EBITDA multiple of PDD Holdings is 5.4x.
What is the current revenue growth of PDD Holdings? PDD Holdings revenue growth between 2023 and 2024 was 90%.
Is PDD Holdings profitable? Yes, PDD Holdings is EBITDA-positive (as of the last 12 months).

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