PDD Holdings Inc. (PDD) quarterly balance sheet — complete assets, liabilities & equity history
PDD Holdings Inc. (PDD) balance sheet — 10-year assets, liabilities & shareholders' equity history
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 556.78B | 519.31B | 516.36B | 476.04B | 447.77B | 415.65B | 386.83B | 359.73B | 316.47B | 294.75B | 271.58B | 241.21B | 215.81B | 216.62B | 193.57B | 175.45B | 146.16B | 160.91B | 157.09B | 147.57B |
| Cash & Short-Term Investments | 456.41B | 496.46B | 423.77B | 387.13B | 364.5B | 331.56B | 308.46B | 284.93B | 242.13B | 217.21B | 202.85B | 179.51B | 157.03B | 149.44B | 137.81B | 119.38B | 95.22B | 92.94B | 97.92B | 92.18B |
| Cash Only | 128.92B | 182.85B | 92.39B | 63.22B | 70.13B | 57.77B | 65.3B | 56.76B | 55.59B | 59.79B | 54.94B | 31.38B | 19.77B | 34.33B | 25.6B | 13.06B | 7.4B | 6.43B | 11.13B | 19.15B |
| Short-Term Investments | 327.5B | 313.61B | 331.38B | 323.91B | 294.37B | 273.79B | 243.17B | 228.17B | 186.54B | 157.42B | 147.91B | 148.13B | 137.26B | 115.11B | 112.21B | 106.32B | 87.82B | 86.52B | 86.79B | 73.03B |
| Accounts Receivable | 6.08B | 15.32B | 15.15B | 6.01B | 12.89B | 12.15B | 13.92B | 11.48B | 11.74B | 7.43B | 8.69B | 6.66B | 5.59B | 3.35B | 5.16B | 4.73B | 4.19B | 3.48B | 4.56B | 4.33B |
| Days Sales Outstanding | 8.69 | 11.31 | 8.99 | 8.27 | 11.78 | 10.84 | 11.76 | 10.89 | 10.05 | 8.34 | 10.25 | 10.66 | 10.69 | 9.83 | 12.81 | 12.9 | 14.5 | 13.58 | 19.03 | 18.09 |
| Inventory | 100M | 0 | 0 | 0 | 0 | 1.6B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14.2M | 0 | 0 |
| Days Inventory Outstanding | 0.19 | - | - | - | - | 3.08 | - | - | - | - | - | - | - | - | - | - | - | 0.2 | - | - |
| Other Current Assets | 85.61B | 7.53B | 77.44B | 75.36B | 70.39B | 68.43B | 64.45B | 59.36B | 59.11B | 68.78B | 56.41B | 52.06B | 53.19B | 62.86B | 48.81B | 51.34B | 46.76B | 64.47B | 54.61B | 51.06B |
| Total Non-Current Assets | 106.63B | 111.14B | 97.36B | 91.11B | 82.74B | 89.39B | 79.96B | 73.02B | 61.36B | 53.33B | 42.68B | 33.08B | 24.26B | 20.5B | 15.54B | 16.55B | 22.55B | 20.3B | 9.44B | 9.17B |
| Property, Plant & Equipment | 9.07B | 6.17B | 6.21B | 843.21M | 6.43B | 5.94B | 5.7B | 5.1B | 4.83B | 5.08B | 4.73B | 3.19B | 2.59B | 2.46B | 2.38B | 2.33B | 2.58B | 3.14B | 2.97B | 937.08M |
| Fixed Asset Turnover | 14.74x | 20.02x | 30.71x | 28.59x | 15.46x | 19.01x | 18.40x | 19.54x | 17.50x | 18.12x | 17.40x | 18.11x | 14.91x | 16.44x | 15.06x | 12.80x | 8.32x | 8.91x | 11.02x | 25.37x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 14M | 15.4M | 16.34M | 17.3M | 18.22M | 19.17M | 20.09M | 21.06M | 21.99M | 21.15M | 21.9M | 22.65M | 23.4M | 134M | 297.86M | 435.84M | 556.76M | 701.22M | 860.61M | 1B |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 96.38B | 104.77B | 90.47B | 90.18B | 76.23B | 83.41B | 73.97B | 67.9B | 56.46B | 47.95B | 36.29B | 28.33B | 20.34B | 16.86B | 12.83B | 13.76B | 19.4B | 16.43B | 5.59B | 7.22B |
| Total Assets | 663.41B | 630.45B | 613.72B | 567.16B | 530.51B | 505.03B | 466.79B | 432.74B | 377.83B | 348.08B | 314.25B | 274.29B | 240.07B | 237.12B | 209.11B | 192B | 168.72B | 181.21B | 166.53B | 156.74B |
| Asset Turnover | 0.17x | 0.20x | 0.18x | 0.19x | 0.18x | 0.23x | 0.22x | 0.24x | 0.24x | 0.27x | 0.23x | 0.20x | 0.16x | 0.18x | 0.18x | 0.17x | 0.14x | 0.16x | 0.13x | 0.15x |
| Asset Growth % | 16.97% | 24.83% | 31.48% | 31.06% | 40.41% | 45.09% | 48.54% | 57.77% | 57.38% | 46.79% | 50.28% | 42.86% | 42.29% | 30.85% | 25.57% | 22.5% | 9.97% | 14.03% | 67.52% | 72.43% |
| Total Current Liabilities | 212.71B | 212.35B | 219.22B | 201.96B | 197.02B | 188.42B | 180B | 170.83B | 151.4B | 152.9B | 148.12B | 125.99B | 111.02B | 116.89B | 85.43B | 85.71B | 77.52B | 93.73B | 86.3B | 80.07B |
| Accounts Payable | 0 | 107.48B | 100.58B | 95.52B | 92.52B | 92.46B | 82.78B | 79.86B | 75.86B | 91.9B | 70.13B | 61.95B | 57.84B | 67.3B | 54.16B | 55.39B | 49.21B | 64.46B | 53.2B | 50.75B |
| Days Payables Outstanding | - | 173.52 | 192.58 | 186.56 | 203.28 | 168.64 | 188.41 | 210.26 | 233.47 | 212.48 | 226.44 | 291.62 | 506.15 | 625.89 | 679.72 | 597.75 | 714.43 | 830.71 | 729.11 | 576.77 |
| Short-Term Debt | 0 | 2.5B | 5.25B | 5.29B | 5.3B | 5.31B | 0 | 249K | 73.95M | 648.57M | 14.35B | 14.43B | 13.71B | 13.89B | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 3.64B | 3.38B | 3.33B | 3.6B | 2.95B | 0 | 2.95B | 0 | 2.28B | 2.14B | 2.04B | 1.64B | 1.54B | 1.39B | 1.39B | 1.24B | 1.06B | 1.17B | 1.14B | 973.99M |
| Other Current Liabilities | 19.81B | 98.99B | 17.43B | 17.14B | 16.62B | 19.41B | 16.48B | 20.37B | 17.25B | 21.71B | 16.28B | 16.13B | 15.68B | 26.19B | 15.12B | 14.77B | 13.96B | 22.06B | 20.21B | 18.99B |
| Current Ratio | 2.62x | 2.45x | 2.36x | 2.36x | 2.27x | 2.21x | 2.15x | 2.11x | 2.09x | 1.93x | 1.83x | 1.91x | 1.94x | 1.85x | 2.27x | 2.05x | 1.89x | 1.72x | 1.82x | 1.84x |
| Quick Ratio | 2.62x | 2.45x | 2.36x | 2.36x | 2.27x | 2.20x | 2.15x | 2.11x | 2.09x | 1.93x | 1.83x | 1.91x | 1.94x | 1.85x | 2.27x | 2.05x | 1.89x | 1.72x | 1.82x | 1.84x |
| Cash Conversion Cycle | - | - | - | - | - | -154.72 | - | - | - | - | - | - | - | - | - | - | - | -816.92 | - | - |
| Total Non-Current Liabilities | 2.91B | 2.92B | 3.1B | 3.33B | 3.79B | 3.3B | 8.29B | 7.93B | 7.72B | 7.94B | 4.08B | 2.95B | 2.53B | 2.46B | 16.55B | 15.38B | 14.54B | 12.37B | 12.12B | 11.77B |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 5.18B | 5.26B | 5.24B | 5.23B | 1.62B | 1.63B | 1.55B | 1.58B | 15.75B | 14.87B | 14.06B | 11.79B | 11.68B | 11.34B |
| Capital Lease Obligations | 2.39B | 2.88B | 3.04B | 3.26B | 3.63B | 3.19B | 3.05B | 2.63B | 2.44B | 2.64B | 2.4B | 1.25B | 978.4M | 870.78M | 750.26M | 462.4M | 453.62M | 544.26M | 437.83M | 423.6M |
| Deferred Tax Liabilities | 0 | 41.88M | 63.54M | 70.17M | 161.51M | 106.77M | 70.29M | 34.06M | 43.92M | 59.83M | 55.9M | 64.22M | 382K | 13.03M | 46.05M | 38.67M | 32.07M | 31.29M | 0 | 0 |
| Other Non-Current Liabilities | 517M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 80K | 536K | 996K | 1.49M | 1.96M |
| Total Liabilities | 215.62B | 215.27B | 222.32B | 205.29B | 200.81B | 191.72B | 188.29B | 178.77B | 159.12B | 160.84B | 152.2B | 128.94B | 113.56B | 119.35B | 101.98B | 101.09B | 92.07B | 106.1B | 98.42B | 91.84B |
| Total Debt | 4.84B | 5.38B | 10.67B | 10.96B | 11.25B | 10.61B | 10.24B | 9.77B | 9.48B | 10.17B | 19.75B | 18.27B | 16.97B | 16.93B | 17.01B | 15.81B | 14.93B | 12.76B | 12.46B | 12.07B |
| Net Debt | -124.07B | -177.47B | -81.71B | -52.26B | -58.87B | -47.16B | -55.06B | -46.99B | -46.11B | -49.63B | -35.19B | -13.11B | -2.8B | -17.39B | -8.59B | 2.76B | 7.52B | 6.33B | 1.33B | -7.09B |
| Debt / Equity | 0.01x | 0.01x | 0.03x | 0.03x | 0.03x | 0.03x | 0.04x | 0.04x | 0.04x | 0.05x | 0.12x | 0.13x | 0.13x | 0.14x | 0.16x | 0.17x | 0.19x | 0.17x | 0.18x | 0.19x |
| Debt / EBITDA | 0.15x | 0.10x | 0.32x | 0.42x | 0.69x | 0.41x | 0.42x | 0.30x | 0.36x | 0.45x | 1.15x | 1.38x | 2.27x | 1.75x | 1.57x | 1.74x | 5.90x | 1.75x | 5.41x | 5.59x |
| Net Debt / EBITDA | -3.72x | -3.38x | -2.45x | -2.01x | -3.62x | -1.83x | -2.25x | -1.43x | -1.76x | -2.20x | -2.04x | -0.99x | -0.37x | -1.80x | -0.79x | 0.30x | 2.98x | 0.87x | 0.58x | -3.28x |
| Interest Coverage | - | - | - | - | - | - | - | - | - | 3294.75x | 1561.50x | 1363.70x | 830.88x | 861.76x | 889.59x | 796.13x | 251.34x | 26.40x | 9.36x | 9.21x |
| Total Equity | 447.79B | 415.17B | 391.4B | 361.86B | 329.7B | 313.31B | 278.5B | 253.98B | 218.71B | 187.24B | 162.05B | 145.34B | 126.51B | 117.77B | 107.13B | 90.91B | 76.65B | 75.11B | 68.11B | 64.9B |
| Equity Growth % | 23.74% | 32.51% | 40.54% | 42.48% | 50.75% | 67.33% | 71.86% | 74.74% | 72.88% | 58.99% | 51.27% | 59.88% | 65.04% | 56.79% | 57.29% | 40.08% | 22.92% | 24.82% | 139.79% | 120.04% |
| Book Value per Share | 303.89 | 279.26 | 262.96 | 244.18 | 222.31 | 211.51 | 188.50 | 171.44 | 148.10 | 127.31 | 110.52 | 99.66 | 86.50 | 81.09 | 74.19 | 63.61 | 53.90 | 52.85 | 47.76 | 45.39 |
| Total Shareholders' Equity | 447.79B | 415.17B | 391.4B | 361.86B | 329.7B | 313.31B | 278.5B | 253.98B | 218.71B | 187.24B | 162.05B | 145.34B | 126.51B | 117.77B | 107.13B | 90.91B | 76.65B | 75.11B | 68.11B | 64.9B |
| Common Stock | 0 | 182.12K | 181K | 181K | 180K | 180K | 179K | 179K | 178K | 177K | 177K | 176K | 171K | 170K | 162K | 162K | 162K | 161K | 161K | 161K |
| Retained Earnings | 323.89B | 285.87B | 262.24B | 232.92B | 202.16B | 187.66B | 160.11B | 135.23B | 103.12B | 75.12B | 51.94B | 36.4B | 23.29B | 15.19B | 5.74B | -4.84B | -13.74B | -17.71B | -24.33B | -25.97B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -6.04B | 3.46B | 5.14B | 6.75B | 7.53B | 7.82B | 2.97B | 5.91B | 5.14B | 4.83B | 5.96B | 6.26B | 2.43B | 3.33B | 4.63B | 864.03M | -2.65B | -2.52B | -1.41B | -1.67B |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |