PDD Holdings annual net debt
2019
2020
2021
2022
2023
2024
2025
PDD Holdings Net Debt Growth & History (PDD)
PDD Holdings's net debt was −$14.80B for fiscal 2025.
View full PDD Holdings company overviewPDD Holdings annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | −$14.80B | −$7.61B | — |
| 2024 | 2024-12-31 | −$7.19B | −$107.0M | — |
| 2023 | 2023-12-31 | −$7.08B | −$2.55B | — |
| 2022 | 2022-12-31 | −$4.53B | −$3.68B | — |
| 2021 | 2021-12-31 | −$856.1M | $2.48B | — |
| 2020 | 2020-12-31 | −$3.33B | −$2.58B | — |
| 2019 | 2019-12-31 | −$750.4M | — | — |
PDD Holdings quarterly net debt
Q4.19
Q3.20
Q4.20
Q4.21
Q4.22
Q4.23
Q4.24
Q4.25
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q4 2025 | 2025-12-31 | −$14.80B | −$7.61B | — |
| Q4 2024 | 2024-12-31 | −$7.19B | −$107.0M | — |
| Q4 2023 | 2023-12-31 | −$7.08B | −$2.55B | — |
| Q4 2022 | 2022-12-31 | −$4.53B | −$3.68B | — |
| Q4 2021 | 2021-12-31 | −$856.1M | $2.48B | — |
| Q4 2020 | 2020-12-31 | −$3.33B | −$2.58B | — |
| Q3 2020 | 2020-09-30 | −$757.4M | — | — |
| Q4 2019 | 2019-12-31 | −$750.4M | — | — |
PDD Holdings net debt trends
Over the last five fiscal years, PDD Holdings's net debt decreased from −$3.33B to −$14.80B, a change of −$11.47B. The latest reported quarter, Q4 2025, shows −$14.80B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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