Jd.com vs PDD Holdings
Jd.com is the larger business, with $182.16bn of revenue in fiscal 2025 against $60.09bn for PDD Holdings (3.0 times as much). Jd.com grew faster (13.1% against 9.8%). PDD Holdings kept more of each dollar of sales as profit: a net margin of 22.7% against 1.5%.
| Latest fiscal year | Jd.comJD, 2025 | PDD HoldingsPDD, 2025 |
|---|---|---|
| Revenue | $182.16bn | $60.09bn |
| Revenue growth | 13.1% | 9.8% |
| Net income | $2.73bn | $13.61bn |
| Operating margin | 0.2% | — |
| Net margin | 1.5% | 22.7% |
| Return on equity | 8.4% | 26.7% |
| Free cash flow | $1.55bn | $14.88bn |
| Cash | $19.66bn | $15.57bn |
| Total debt | $7.11bn | $0 |
| Debt to equity | 22.1% | — |
| Dividend per share | — | — |
| Dividend yield | 3.7% | — |
| Share buybacks | $2.98bn | — |
| Employees | — | — |
| Market value | $40.20bn | $114.55bn |
| Price vs our value range | Below our value range | Below our value range |
| Moat score | — | — |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 3 sales |