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Side-by-side financial comparison of Atour Lifestyle Holdings Ltd (ATAT) and PDD Holdings Inc. (PDD). Click either name above to swap in a different company.
PDD Holdings Inc. is the larger business by last-quarter revenue ($15.2B vs $789.6M, roughly 19.3× Atour Lifestyle Holdings Ltd). PDD Holdings Inc. runs the higher net margin — 27.1% vs 17.6%, a 9.5% gap on every dollar of revenue.
Atour Lifestyle Holdings Ltd is a leading China-based hospitality and lifestyle enterprise. It operates a wide portfolio of mid-to-premium hotel brands for business and leisure travelers, and offers complementary lifestyle retail products and experience services, catering primarily to middle-class consumers across domestic and selected overseas markets.
Pinduoduo is a Chinese online retailer, with a focus on the traditional agriculture industry. The business is the largest product of PDD Holdings, a company currently headquartered in Ireland that also owns the online marketplace Temu.
ATAT vs PDD — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $789.6M | $15.2B |
| Net Profit | $139.1M | $4.1B |
| Gross Margin | — | 56.7% |
| Operating Margin | 22.5% | 23.1% |
| Net Margin | 17.6% | 27.1% |
| Revenue YoY | 252.5% | — |
| Net Profit YoY | 322.2% | — |
| EPS (diluted) | $0.33 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q3 25 | $789.6M | $15.2B | ||
| Q2 25 | — | $14.5B | ||
| Q3 24 | $224.0M | $14.2B | ||
| Q1 24 | $203.4M | $12.0B | ||
| Q3 23 | — | $9.4B | ||
| Q2 23 | — | $7.2B | ||
| Q1 23 | $106.8M | — | ||
| Q4 22 | — | $5.8B |
| Q3 25 | $139.1M | $4.1B | ||
| Q2 25 | — | $4.3B | ||
| Q3 24 | $33.0M | $3.6B | ||
| Q1 24 | $35.6M | $3.9B | ||
| Q3 23 | — | $2.1B | ||
| Q2 23 | — | $1.8B | ||
| Q1 23 | $2.5M | — | ||
| Q4 22 | — | $1.4B |
| Q3 25 | — | 56.7% | ||
| Q2 25 | — | 55.9% | ||
| Q3 24 | — | 60.0% | ||
| Q1 24 | — | 62.3% | ||
| Q3 23 | — | 61.0% | ||
| Q2 23 | — | 64.3% | ||
| Q1 23 | — | — | ||
| Q4 22 | — | 77.6% |
| Q3 25 | 22.5% | 23.1% | ||
| Q2 25 | — | 24.8% | ||
| Q3 24 | 14.7% | 24.5% | ||
| Q1 24 | 22.1% | 29.9% | ||
| Q3 23 | — | 24.2% | ||
| Q2 23 | — | 24.3% | ||
| Q1 23 | 8.0% | — | ||
| Q4 22 | — | 22.9% |
| Q3 25 | 17.6% | 27.1% | ||
| Q2 25 | — | 29.6% | ||
| Q3 24 | 14.7% | 25.1% | ||
| Q1 24 | 17.5% | 32.3% | ||
| Q3 23 | — | 22.6% | ||
| Q2 23 | — | 25.1% | ||
| Q1 23 | 2.3% | — | ||
| Q4 22 | — | 23.7% |
| Q3 25 | $0.33 | — | ||
| Q2 25 | — | — | ||
| Q3 24 | $0.08 | — | ||
| Q1 24 | $0.09 | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q4 22 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $669.2M | $13.0B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $405.0M | $55.0B |
| Total Assets | $1.1B | $86.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $669.2M | $13.0B | ||
| Q2 25 | — | $8.8B | ||
| Q3 24 | $506.0M | $9.3B | ||
| Q1 24 | $520.7M | $7.7B | ||
| Q3 23 | — | $7.5B | ||
| Q2 23 | — | $4.3B | ||
| Q1 23 | $272.5M | — | ||
| Q4 22 | — | $21.7B |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | $277.0K | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q4 22 | — | — |
| Q3 25 | $405.0M | $55.0B | ||
| Q2 25 | — | $50.5B | ||
| Q3 24 | $291.3M | $39.7B | ||
| Q1 24 | $323.5M | $30.3B | ||
| Q3 23 | — | $22.2B | ||
| Q2 23 | — | $20.0B | ||
| Q1 23 | $185.5M | — | ||
| Q4 22 | — | $17.1B |
| Q3 25 | $1.1B | $86.2B | ||
| Q2 25 | — | $79.2B | ||
| Q3 24 | $927.8M | $66.5B | ||
| Q1 24 | $936.3M | $52.3B | ||
| Q3 23 | — | $43.1B | ||
| Q2 23 | — | $37.8B | ||
| Q1 23 | — | — | ||
| Q4 22 | — | $34.4B |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | 0.00× | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q1 23 | — | — | ||
| Q4 22 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $216.6M | $6.4B |
| Free Cash FlowOCF − Capex | $210.7M | — |
| FCF MarginFCF / Revenue | 26.7% | — |
| Capex IntensityCapex / Revenue | 0.8% | — |
| Cash ConversionOCF / Net Profit | 1.56× | 1.56× |
| TTM Free Cash FlowTrailing 4 quarters | $359.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $216.6M | $6.4B | ||
| Q2 25 | — | $3.0B | ||
| Q3 24 | $84.8M | $3.9B | ||
| Q1 24 | $19.8M | $2.9B | ||
| Q3 23 | — | $4.5B | ||
| Q2 23 | — | $3.2B | ||
| Q1 23 | $49.9M | — | ||
| Q4 22 | — | $7.0B |
| Q3 25 | $210.7M | — | ||
| Q2 25 | — | — | ||
| Q3 24 | $83.3M | — | ||
| Q1 24 | $18.1M | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q1 23 | $47.5M | — | ||
| Q4 22 | — | — |
| Q3 25 | 26.7% | — | ||
| Q2 25 | — | — | ||
| Q3 24 | 37.2% | — | ||
| Q1 24 | 8.9% | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q1 23 | 44.5% | — | ||
| Q4 22 | — | — |
| Q3 25 | 0.8% | — | ||
| Q2 25 | — | — | ||
| Q3 24 | 0.7% | — | ||
| Q1 24 | 0.9% | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q1 23 | 2.3% | — | ||
| Q4 22 | — | — |
| Q3 25 | 1.56× | 1.56× | ||
| Q2 25 | — | 0.70× | ||
| Q3 24 | 2.57× | 1.10× | ||
| Q1 24 | 0.56× | 0.75× | ||
| Q3 23 | — | 2.09× | ||
| Q2 23 | — | 1.78× | ||
| Q1 23 | 20.23× | — | ||
| Q4 22 | — | 5.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
