PDD (PDD)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from PDD's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from PDD's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $93.9B | $130.6B | $247.6B | $393.8B | $431.8B |
| Net income | $7.8B | $31.5B | $60.0B | $112.4B | $97.8B |
| Free cash flow | — | — | — | — | — |
| EPS (diluted) | $1.36 | $5.48 | $10.29 | $19.00 | $16.50 |
| Operating margin | 7.3% | 23.3% | 23.7% | 27.5% | 21.6% |
Where the revenue comes from
Revenue by products, fiscal 2024.
Superinvestors who own PDD
From each investor's latest 13F filing (what a 13F shows). 3 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Li Lu Himalaya Capital Management LLC |
Added | $821M | 22.2% | Q2 2026 |
| Dodge & Cox Dodge & Cox |
Added | $347M | 0.18% | Q2 2026 |
| Cliff Asness AQR Capital Management |
New position | $281,330 | 0.0% | Q2 2026 |
Insider buying
Open-market purchases by PDD's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
Are PDD insiders buying the stock?
No open-market insider purchases of PDD in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own PDD?
3 of the superinvestors Investingly tracks hold PDD in their latest 13F, including Li Lu, Dodge & Cox, Cliff Asness.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.