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PDD - PDD Holdings Inc.

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PDD Holdings Inc.

PDD

NASDAQ

PDD Holdings Inc., a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace. It focuses on bringing businesses and people into the digital economy. The company was formerly known as Pinduoduo Inc. and changed its name to PDD Holdings Inc. in February 2023. The company was incorporated in 2015 and is based in Dublin, Ireland.

110.92 USD

4.95 (4.46%)

Operating Data

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

8.18B

12.92B

17.96B

34.06B

54.16B

58.04B

62.19B

66.64B

71.41B

76.52B

Revenue %

-

57.92

38.97

89.68

59.04

7.15

7.15

7.15

7.15

Ebitda

-1.2B

1.72B

5.39B

8.18B

15.02B

9.34B

10.01B

10.72B

11.49B

12.31B

Ebitda %

-14.67

13.34

30.03

24.02

27.73

16.09

16.09

16.09

16.09

Ebit

-1.31B

1.47B

5.02B

8.07B

14.91B

8.65B

9.27B

9.93B

10.64B

11.41B

Ebit %

-16.02

11.37

27.93

23.7

27.53

14.9

14.9

14.9

14.9

Depreciation

110.09M

253.64M

376.16M

108.13M

108.13M

687.26M

736.43M

789.12M

845.58M

906.08M

Depreciation %

1.35

1.96

2.09

0.32

0.2

1.18

1.18

1.18

1.18

Balance Sheet

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Total Cash

11.96B

12.78B

20.55B

29.87B

45.6B

54.65B

58.56B

62.75B

67.24B

72.06B

Total Cash %

146.19

98.93

114.46

87.71

84.19

94.17

94.17

94.17

94.17

Receivables

537.35M

-

460.95M

1.02B

1.67B

1.77B

1.89B

2.03B

2.17B

2.33B

Receivables %

6.57

-

2.57

3

3.09

3.04

3.04

3.04

3.04

Inventories

236.34M

1.95M

-

-16.43M

219.96M

378.59M

405.68M

434.7M

465.8M

499.13M

Inventories %

2.89

0.02

-

-0.05

0.41

0.65

0.65

0.65

0.65

Payable

7.56B

8.87B

9.26B

12.64B

12.72B

31.71B

33.98B

36.41B

39.01B

41.8B

Payable %

92.4

68.61

51.54

37.11

23.48

54.63

54.63

54.63

54.63

Cap Ex

-5.92M

-452.1M

-87.43M

-80.3M

-

-498.45M

-534.11M

-572.32M

-613.27M

-657.15M

Cap Ex %

-0.07

-3.5

-0.49

-0.24

-

-0.86

-0.86

-0.86

-0.86

Weighted Average Cost Of Capital

Price

110.92

Beta

Diluted Shares Outstanding

1.48B

Costof Debt

3.92

Tax Rate

After Tax Cost Of Debt

3.32

Risk Free Rate

Market Risk Premium

Cost Of Equity

Total Debt

1.46B

Total Equity

164.07B

Total Capital

165.53B

Debt Weighting

0.88

Equity Weighting

99.12

Wacc

7.28

Build Up Free Cash Flow

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

8.18B

12.92B

17.96B

34.06B

54.16B

58.04B

62.19B

66.64B

71.41B

76.52B

Ebitda

-1.2B

1.72B

5.39B

8.18B

15.02B

9.34B

10.01B

10.72B

11.49B

12.31B

Ebit

-1.31B

1.47B

5.02B

8.07B

14.91B

8.65B

9.27B

9.93B

10.64B

11.41B

Tax Rate

15.27

15.27

15.27

15.27

15.27

15.27

15.27

15.27

15.27

15.27

Ebiat

-1.32B

1.21B

4.34B

6.74B

12.63B

7.56B

8.1B

8.68B

9.3B

9.97B

Depreciation

110.09M

253.64M

376.16M

108.13M

108.13M

687.26M

736.43M

789.12M

845.58M

906.08M

Receivables

537.35M

-

460.95M

1.02B

1.67B

1.77B

1.89B

2.03B

2.17B

2.33B

Inventories

236.34M

1.95M

-

-16.43M

219.96M

378.59M

405.68M

434.7M

465.8M

499.13M

Payable

7.56B

8.87B

9.26B

12.64B

12.72B

31.71B

33.98B

36.41B

39.01B

41.8B

Cap Ex

-5.92M

-452.1M

-87.43M

-80.3M

-

-498.45M

-534.11M

-572.32M

-613.27M

-657.15M

Ufcf

5.57B

3.09B

4.56B

9.61B

11.93B

26.49B

10.42B

11.16B

11.96B

12.82B

Wacc

7.28

7.28

7.28

7.28

7.28

Pv Ufcf

24.69B

9.05B

9.04B

9.03B

9.02B

Sum Pv Ufcf

60.83B

Terminal Value

Growth In Perpetuity Method

Long Term Growth Rate

Wacc

7.28

Free Cash Flow T1

12.88B

Terminal Value

189.91B

Present Terminal Value

133.62B

Intrinsic Value

Enterprise Value

194.45B

Net Debt

-6.49B

Equity Value

200.94B

Diluted Shares Outstanding

1.48B

Equity Value Per Share

135.85

Projected DCF

135.85 0.184%

DCF Levered

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