PDD Holdings Inc. balance sheet

At the end of fiscal 2025, PDD Holdings Inc. had total assets of $90.10bn, total liabilities of $30.98bn and shareholders' equity of $59.11bn. It held $15.57bn in cash against $0 of debt.

Balance sheet

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

PDD Holdings Inc.: balance sheet, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	0.2	0.5	2.1	0.8	3.4	1.0	5.0	8.4	7.9	15.6
Inventory	—	—	—	—	0.3	0.0	—	—	—	—
Total current assets	—	2.0	5.9	10.5	22.9	25.3	31.4	41.5	56.9	74.2
Total assets	—	2.0	6.3	10.9	24.4	28.4	34.4	49.0	69.2	90.1
Accounts payable	—	—	—	0.0	0.2	0.3	0.6	2.4	3.9	4.7
Total current liabilities	—	1.9	3.5	6.6	12.9	14.7	16.9	21.5	25.8	30.6
Total debt	0.0	0.0	0.0	0.1	0.3	1.8	2.2	0.8	—	0.0
Total liabilities	—	1.9	3.5	7.4	15.1	16.6	17.3	22.7	26.3	31.0
Shareholders' equity	−0.1	−0.2	2.7	3.5	9.2	11.8	17.1	26.4	42.9	59.1
Non-controlling interests and other (assets − liabilities − equity)	—	0.3	—	—	—	—	—	—	—	—
Shares outstanding	454m	440m	—	—	—	—	—	1,376m	1,392m	1,423m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from PDD Holdings Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to PDD Holdings Inc.