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Pinduoduo Valuation Multiples
Discover revenue and EBITDA valuation multiples for Pinduoduo and similar public comparables like Uber, Prosus, MercadoLibre, DoorDash and more.
Pinduoduo Overview
About Pinduoduo
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
Employees
23.5K
Website
Financials (LTM)
EV
$86B
Pinduoduo Financials
Pinduoduo reported last 12-month revenue of $64B and EBITDA of $15B.
In the same LTM period, Pinduoduo generated $37B in gross profit, $15B in EBITDA, and $16B in net income.
Revenue (LTM)
Pinduoduo P&L
In the most recent fiscal year, Pinduoduo reported revenue of $57B and EBITDA of $20B.
Pinduoduo expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $64B | XXX | $57B | XXX | XXX | XXX |
| Gross Profit | $37B | XXX | $35B | XXX | XXX | XXX |
| Gross Margin | 57% | XXX | 61% | XXX | XXX | XXX |
| EBITDA | $15B | XXX | $20B | XXX | XXX | XXX |
| EBITDA Margin | 24% | XXX | 34% | XXX | XXX | XXX |
| EBIT Margin | 23% | XXX | 28% | XXX | XXX | XXX |
| Net Profit | $16B | XXX | $16B | XXX | XXX | XXX |
| Net Margin | 24% | XXX | 29% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Pinduoduo Stock Performance
Pinduoduo has current market cap of $146B, and enterprise value of $86B.
Market Cap Evolution
Pinduoduo's stock price is $102.82.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $86B | $146B | 0.0% | XXX | XXX | XXX | $11.48 |
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Start Free TrialPinduoduo Valuation Multiples
Pinduoduo trades at 1.3x EV/Revenue multiple, and 5.6x EV/EBITDA.
EV / Revenue (LTM)
Pinduoduo Financial Valuation Multiples
As of March 7, 2026, Pinduoduo has market cap of $146B and EV of $86B.
Equity research analysts estimate Pinduoduo's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Pinduoduo has a P/E ratio of 9.3x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $146B | XXX | $146B | XXX | XXX | XXX |
| EV (current) | $86B | XXX | $86B | XXX | XXX | XXX |
| EV/Revenue | 1.3x | XXX | 1.5x | XXX | XXX | XXX |
| EV/EBITDA | 5.6x | XXX | 4.4x | XXX | XXX | XXX |
| EV/EBIT | 5.8x | XXX | 5.5x | XXX | XXX | XXX |
| EV/Gross Profit | 2.3x | XXX | 2.5x | XXX | XXX | XXX |
| P/E | 9.3x | XXX | 9.0x | XXX | XXX | XXX |
| EV/FCF | 4.3x | XXX | 4.4x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Pinduoduo Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Pinduoduo Margins & Growth Rates
Pinduoduo's revenue in the last 12 month grew by 15%.
Pinduoduo's revenue per employee in the last FY averaged $2.7M.
Pinduoduo's rule of 40 is 38% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Pinduoduo's rule of X is 61% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Pinduoduo Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 15% | XXX | 10% | XXX | XXX | XXX |
| EBITDA Margin | 24% | XXX | 34% | XXX | XXX | XXX |
| EBITDA Growth | 22% | XXX | (25%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 38% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 61% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $2.7M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 29% | XXX | 28% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 2% | XXX | 2% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 4% | XXX | 3% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 33% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Pinduoduo Public Comps
See public comps and valuation multiples for other Consumer E-commerce and Horizontal Marketplaces comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Uber | XXX | XXX | XXX | XXX | XXX | XXX |
| Prosus | XXX | XXX | XXX | XXX | XXX | XXX |
| MercadoLibre | XXX | XXX | XXX | XXX | XXX | XXX |
| DoorDash | XXX | XXX | XXX | XXX | XXX | XXX |
| Sea | 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.
Pinduoduo M&A Activity
Pinduoduo acquired XXX companies to date.
Last acquisition by Pinduoduo was on XXXXXXXX, XXXXX. Pinduoduo acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Pinduoduo
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialPinduoduo Investment Activity
Pinduoduo invested in XXX companies to date.
Pinduoduo made its latest investment on XXXXXXXX, XXXXX. Pinduoduo invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Pinduoduo
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Pinduoduo
| When was Pinduoduo founded? | Pinduoduo was founded in 2015. |
| Where is Pinduoduo headquartered? | Pinduoduo is headquartered in China. |
| How many employees does Pinduoduo have? | As of today, Pinduoduo has over 23K employees. |
| Who is the CEO of Pinduoduo? | Pinduoduo's CEO is Lei Chen. |
| Is Pinduoduo publicly listed? | Yes, Pinduoduo is a public company listed on Nasdaq. |
| What is the stock symbol of Pinduoduo? | Pinduoduo trades under PDD ticker. |
| When did Pinduoduo go public? | Pinduoduo went public in 2018. |
| Who are competitors of Pinduoduo? | Pinduoduo main competitors are Uber, Prosus, MercadoLibre, DoorDash. |
| What is the current market cap of Pinduoduo? | Pinduoduo's current market cap is $146B. |
| What is the current revenue of Pinduoduo? | Pinduoduo's last 12 months revenue is $64B. |
| What is the current revenue growth of Pinduoduo? | Pinduoduo revenue growth (NTM/LTM) is 15%. |
| What is the current EV/Revenue multiple of Pinduoduo? | Current revenue multiple of Pinduoduo is 1.3x. |
| Is Pinduoduo profitable? | Yes, Pinduoduo is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Pinduoduo? | Pinduoduo's last 12 months EBITDA is $15B. |
| What is Pinduoduo's EBITDA margin? | Pinduoduo's last 12 months EBITDA margin is 24%. |
| What is the current EV/EBITDA multiple of Pinduoduo? | Current EBITDA multiple of Pinduoduo is 5.6x. |
| What is the current FCF of Pinduoduo? | Pinduoduo's last 12 months FCF is $20B. |
| What is Pinduoduo's FCF margin? | Pinduoduo's last 12 months FCF margin is 31%. |
| What is the current EV/FCF multiple of Pinduoduo? | Current FCF multiple of Pinduoduo is 4.3x. |
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