PDD Holdings Inc. (PDD) - Net Assets
Based on the latest financial reports, PDD Holdings Inc. (PDD) has net assets worth $415.17 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($630.45 Billion) and total liabilities ($215.27 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check financial resilience of PDD Holdings Inc. to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $415.17 Billion |
| % of Total Assets | 65.85% |
| Annual Growth Rate | 119.14% |
| 5-Year Change | 452.72% |
| 10-Year Change | N/A |
| Growth Volatility | 438.64 |
PDD Holdings Inc. - Net Assets Trend (2016–2025)
This chart illustrates how PDD Holdings Inc.'s net assets have evolved over time, based on quarterly financial data. Also explore PDD total assets for the complete picture of this company's asset base.
Annual Net Assets for PDD Holdings Inc. (2016–2025)
The table below shows the annual net assets of PDD Holdings Inc. from 2016 to 2025. For live valuation and market cap data, see PDD Holdings Inc. market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $415.17 Billion | +32.51% |
| 2024-12-31 | $313.31 Billion | +67.33% |
| 2023-12-31 | $187.24 Billion | +58.99% |
| 2022-12-31 | $117.77 Billion | +56.79% |
| 2021-12-31 | $75.11 Billion | +24.82% |
| 2020-12-31 | $60.18 Billion | +144.15% |
| 2019-12-31 | $24.65 Billion | +30.94% |
| 2018-12-31 | $18.82 Billion | +1462.09% |
| 2017-12-31 | $1.20 Billion | +238.04% |
| 2016-12-31 | $356.45 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to PDD Holdings Inc.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 28633966600000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $285.87 Billion | 68.86% |
| Common Stock | $182.12K | 0.00% |
| Other Comprehensive Income | $3.46 Billion | 0.83% |
| Other Components | $125.85 Billion | 30.31% |
| Total Equity | $415.17 Billion | 100.00% |
PDD Holdings Inc. Competitors by Market Cap
The table below lists competitors of PDD Holdings Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Siemens Energy AG
F:ENR
|
$141.85 Billion |
|
Schneider Electric S.E.
PA:SU
|
$143.23 Billion |
|
Novo Nordisk A/S
CO:NOVO-B
|
$146.66 Billion |
|
Welltower Inc
NYSE:WELL
|
$146.77 Billion |
|
ALLIANZ SE UNSP.ADR 1/10
F:ALVE
|
$141.45 Billion |
|
Southern Copper Corporation
NYSE:SCCO
|
$141.41 Billion |
|
Allianz SE VNA O.N.
XETRA:ALV
|
$140.11 Billion |
|
Shandong Zhongji Electrical Equipment Co Ltd
SHE:300308
|
$139.42 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in PDD Holdings Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 313,313,124,000 to 415,171,296,000, a change of 101,858,172,000 (32.5%).
- Net income of 96,657,301,000 contributed positively to equity growth.
- Other comprehensive income decreased equity by 4,368,402,000.
- Other factors increased equity by 9,569,273,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $96.66 Billion | +23.28% |
| Other Comprehensive Income | $-4.37 Billion | -1.05% |
| Other Changes | $9.57 Billion | +2.3% |
| Total Change | $- | 32.51% |
Book Value vs Market Value Analysis
This analysis compares PDD Holdings Inc.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.36x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 963.01x to 0.36x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | $0.10 | $99.72 | x |
| 2017-12-31 | $0.35 | $99.72 | x |
| 2018-12-31 | $6.34 | $99.72 | x |
| 2019-12-31 | $5.33 | $99.72 | x |
| 2020-12-31 | $50.48 | $99.72 | x |
| 2021-12-31 | $52.58 | $99.72 | x |
| 2022-12-31 | $81.77 | $99.72 | x |
| 2023-12-31 | $128.26 | $99.72 | x |
| 2024-12-31 | $211.82 | $99.72 | x |
| 2025-12-31 | $280.07 | $99.72 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently PDD Holdings Inc. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 23.28%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 23.01%
- • Asset Turnover: 0.67x
- • Equity Multiplier: 1.52x
- Recent ROE (23.28%) is above the historical average (-9.16%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | -81.91% | -57.83% | 0.29x | 4.97x | $-327.62 Million |
| 2017 | -43.58% | -30.11% | 0.13x | 11.05x | $-645.61 Million |
| 2018 | -54.28% | -77.87% | 0.30x | 2.29x | $-12.10 Billion |
| 2019 | -28.27% | -23.12% | 0.40x | 3.09x | $-9.43 Billion |
| 2020 | -11.93% | -12.07% | 0.37x | 2.64x | $-13.20 Billion |
| 2021 | 10.34% | 8.27% | 0.52x | 2.41x | $257.22 Million |
| 2022 | 26.78% | 24.16% | 0.55x | 2.01x | $19.76 Billion |
| 2023 | 32.06% | 24.24% | 0.71x | 1.86x | $41.30 Billion |
| 2024 | 35.89% | 28.55% | 0.78x | 1.61x | $81.10 Billion |
| 2025 | 23.28% | 23.01% | 0.67x | 1.52x | $55.14 Billion |
Industry Comparison
This section compares PDD Holdings Inc.'s net assets metrics with peer companies in the Internet Retail industry.
Industry Context
- Industry: Internet Retail
- Average net assets among peers: $7,541,565,044
- Average return on equity (ROE) among peers: 6.75%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| PDD Holdings Inc. (PDD) | $415.17 Billion | -81.91% | 0.52x | $141.57 Billion |
| Winamp Group SA (ALPET) | $3.19 Million | -19.36% | 0.11x | $13.13 Million |
| Amazon.com Inc (AMZN) | $62.06 Billion | 18.67% | 2.63x | $2.51 Trillion |
| Beyond, Inc. (BYON) | $54.91 Million | -21.03% | 0.78x | $541.91 Million |
| Baozun Inc (BZUN) | $5.78 Billion | -3.20% | 0.77x | $138.03 Million |
| Maplebear Inc. (CART) | $50.26 Million | 5.87% | 8.45x | $10.15 Billion |
| Chewy Inc (CHWY) | $-403.97 Million | 0.00% | 0.00x | $6.09 Billion |
| Coupang LLC (CPNG) | $4.10 Billion | 3.75% | 2.74x | $33.89 Billion |
| Dada Nexus Ltd (DADA) | $-7.19 Billion | 0.00% | 0.00x | $506.16 Million |
| DoorDash, Inc. Class A Common Stock (DASH) | $1.18 Billion | -56.43% | 0.47x | $69.45 Billion |
| eBay Inc (EBAY) | $9.78 Billion | 139.17% | 1.72x | $39.55 Billion |
About PDD Holdings Inc.
PDD Holdings Inc., a multinational commerce group that owns and operates a portfolio of businesses. It operates Pinduoduo platform which provides various product categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverages, consumer electronics, electronic appliances, furniture and household goods, cosmetics and other personal care items, spo… Read more