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Side-by-side financial comparison of Duke Energy (DUK) 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 $7.8B, roughly 2.0× Duke Energy). PDD Holdings Inc. runs the higher net margin — 27.1% vs 15.2%, a 11.9% gap on every dollar of revenue. Over the past eight quarters, PDD Holdings Inc.'s revenue compounded faster (74.6% CAGR vs 1.6%).
Duke Energy Corporation is an American electric power and natural gas holding company headquartered in Charlotte, North Carolina. The company serves over 7 million customers in the eastern United States. In 2024 it ranked as the 141st largest company in the United States – its highest-ever placement on the Fortune 500 list.
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.
DUK vs PDD — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.8B | $15.2B |
| Net Profit | $1.2B | $4.1B |
| Gross Margin | — | 56.7% |
| Operating Margin | 27.3% | 23.1% |
| Net Margin | 15.2% | 27.1% |
| Revenue YoY | 7.4% | — |
| Net Profit YoY | -1.7% | — |
| EPS (diluted) | $1.49 | — |
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.
| Q4 25 | $7.8B | — | ||
| Q3 25 | $8.4B | $15.2B | ||
| Q2 25 | $7.4B | $14.5B | ||
| Q1 25 | $8.2B | — | ||
| Q4 24 | $7.2B | — | ||
| Q3 24 | $8.1B | $14.2B | ||
| Q2 24 | $7.2B | — | ||
| Q1 24 | $7.5B | $12.0B |
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.4B | $4.1B | ||
| Q2 25 | $984.0M | $4.3B | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.3B | $3.6B | ||
| Q2 24 | $900.0M | — | ||
| Q1 24 | $1.1B | $3.9B |
| Q4 25 | — | — | ||
| Q3 25 | — | 56.7% | ||
| Q2 25 | — | 55.9% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 60.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 62.3% |
| Q4 25 | 27.3% | — | ||
| Q3 25 | 27.9% | 23.1% | ||
| Q2 25 | 24.8% | 24.8% | ||
| Q1 25 | 28.5% | — | ||
| Q4 24 | 29.2% | — | ||
| Q3 24 | 26.4% | 24.5% | ||
| Q2 24 | 23.9% | — | ||
| Q1 24 | 26.1% | 29.9% |
| Q4 25 | 15.2% | — | ||
| Q3 25 | 17.0% | 27.1% | ||
| Q2 25 | 13.3% | 29.6% | ||
| Q1 25 | 16.8% | — | ||
| Q4 24 | 16.6% | — | ||
| Q3 24 | 15.8% | 25.1% | ||
| Q2 24 | 12.6% | — | ||
| Q1 24 | 15.1% | 32.3% |
| Q4 25 | $1.49 | — | ||
| Q3 25 | $1.81 | — | ||
| Q2 25 | $1.25 | — | ||
| Q1 25 | $1.76 | — | ||
| Q4 24 | $1.54 | — | ||
| Q3 24 | $1.60 | — | ||
| Q2 24 | $1.13 | — | ||
| Q1 24 | $1.44 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $245.0M | $13.0B |
| Total DebtLower is stronger | $80.1B | — |
| Stockholders' EquityBook value | $51.8B | $55.0B |
| Total Assets | $195.7B | $86.2B |
| Debt / EquityLower = less leverage | 1.55× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $245.0M | — | ||
| Q3 25 | $688.0M | $13.0B | ||
| Q2 25 | $344.0M | $8.8B | ||
| Q1 25 | $475.0M | — | ||
| Q4 24 | $314.0M | — | ||
| Q3 24 | $376.0M | $9.3B | ||
| Q2 24 | $390.0M | — | ||
| Q1 24 | $459.0M | $7.7B |
| Q4 25 | $80.1B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $76.3B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $51.8B | — | ||
| Q3 25 | $51.5B | $55.0B | ||
| Q2 25 | $50.9B | $50.5B | ||
| Q1 25 | $50.7B | — | ||
| Q4 24 | $50.1B | — | ||
| Q3 24 | $49.1B | $39.7B | ||
| Q2 24 | $49.7B | — | ||
| Q1 24 | $49.6B | $30.3B |
| Q4 25 | $195.7B | — | ||
| Q3 25 | $192.3B | $86.2B | ||
| Q2 25 | $189.7B | $79.2B | ||
| Q1 25 | $187.5B | — | ||
| Q4 24 | $186.3B | — | ||
| Q3 24 | $183.6B | $66.5B | ||
| Q2 24 | $181.6B | — | ||
| Q1 24 | $178.7B | $52.3B |
| Q4 25 | 1.55× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $3.7B | $6.4B |
| Free Cash FlowOCF − Capex | $-485.0M | — |
| FCF MarginFCF / Revenue | -6.2% | — |
| Capex IntensityCapex / Revenue | 53.3% | — |
| Cash ConversionOCF / Net Profit | 3.09× | 1.56× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.7B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.7B | — | ||
| Q3 25 | $3.6B | $6.4B | ||
| Q2 25 | $2.9B | $3.0B | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $3.4B | — | ||
| Q3 24 | $3.5B | $3.9B | ||
| Q2 24 | $3.0B | — | ||
| Q1 24 | $2.5B | $2.9B |
| Q4 25 | $-485.0M | — | ||
| Q3 25 | $179.0M | — | ||
| Q2 25 | $-417.0M | — | ||
| Q1 25 | $-971.0M | — | ||
| Q4 24 | $288.0M | — | ||
| Q3 24 | $537.0M | — | ||
| Q2 24 | $-43.0M | — | ||
| Q1 24 | $-734.0M | — |
| Q4 25 | -6.2% | — | ||
| Q3 25 | 2.1% | — | ||
| Q2 25 | -5.7% | — | ||
| Q1 25 | -11.8% | — | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 6.6% | — | ||
| Q2 24 | -0.6% | — | ||
| Q1 24 | -9.7% | — |
| Q4 25 | 53.3% | — | ||
| Q3 25 | 41.2% | — | ||
| Q2 25 | 44.5% | — | ||
| Q1 25 | 38.3% | — | ||
| Q4 24 | 42.7% | — | ||
| Q3 24 | 36.8% | — | ||
| Q2 24 | 41.9% | — | ||
| Q1 24 | 42.6% | — |
| Q4 25 | 3.09× | — | ||
| Q3 25 | 2.56× | 1.56× | ||
| Q2 25 | 2.91× | 0.70× | ||
| Q1 25 | 1.58× | — | ||
| Q4 24 | 2.80× | — | ||
| Q3 24 | 2.75× | 1.10× | ||
| Q2 24 | 3.28× | — | ||
| Q1 24 | 2.17× | 0.75× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DUK
| Electric Utilitiesand Infrastructure | $7.0B | 90% |
| Other Revenues | $741.0M | 10% |
PDD
Segment breakdown not available.
