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Side-by-side financial comparison of JBS N.V. (JBS) and PDD Holdings Inc. (PDD). Click either name above to swap in a different company.
JBS N.V. is the larger business by last-quarter revenue ($22.6B vs $15.2B, roughly 1.5× PDD Holdings Inc.). PDD Holdings Inc. runs the higher net margin — 27.1% vs 2.9%, a 24.2% gap on every dollar of revenue.
JBS N.V. is a Brazilian multinational company that is the largest meat processing enterprise in the world, producing factory processed beef, chicken, salmon, sheep, pork, and also selling by-products from the processing of these meats. It is headquartered in São Paulo. It was founded in 1953 in Anápolis, Goiás.
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.
JBS vs PDD — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $22.6B | $15.2B |
| Net Profit | $644.1M | $4.1B |
| Gross Margin | 13.2% | 56.7% |
| Operating Margin | 5.4% | 23.1% |
| Net Margin | 2.9% | 27.1% |
| Revenue YoY | 13.4% | — |
| Net Profit YoY | -14.9% | — |
| EPS (diluted) | $0.52 | — |
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 | $22.6B | $15.2B | ||
| Q2 25 | — | $14.5B | ||
| Q3 24 | $19.9B | $14.2B | ||
| Q1 24 | — | $12.0B | ||
| Q3 23 | — | $9.4B | ||
| Q2 23 | — | $7.2B | ||
| Q4 22 | — | $5.8B | ||
| Q3 22 | — | $5.0B |
| Q3 25 | $644.1M | $4.1B | ||
| Q2 25 | — | $4.3B | ||
| Q3 24 | $756.6M | $3.6B | ||
| Q1 24 | — | $3.9B | ||
| Q3 23 | — | $2.1B | ||
| Q2 23 | — | $1.8B | ||
| Q4 22 | — | $1.4B | ||
| Q3 22 | — | $1.5B |
| Q3 25 | 13.2% | 56.7% | ||
| Q2 25 | — | 55.9% | ||
| Q3 24 | 16.5% | 60.0% | ||
| Q1 24 | — | 62.3% | ||
| Q3 23 | — | 61.0% | ||
| Q2 23 | — | 64.3% | ||
| Q4 22 | — | 77.6% | ||
| Q3 22 | — | 79.1% |
| Q3 25 | 5.4% | 23.1% | ||
| Q2 25 | — | 24.8% | ||
| Q3 24 | 7.8% | 24.5% | ||
| Q1 24 | — | 29.9% | ||
| Q3 23 | — | 24.2% | ||
| Q2 23 | — | 24.3% | ||
| Q4 22 | — | 22.9% | ||
| Q3 22 | — | 29.4% |
| Q3 25 | 2.9% | 27.1% | ||
| Q2 25 | — | 29.6% | ||
| Q3 24 | 3.8% | 25.1% | ||
| Q1 24 | — | 32.3% | ||
| Q3 23 | — | 22.6% | ||
| Q2 23 | — | 25.1% | ||
| Q4 22 | — | 23.7% | ||
| Q3 22 | — | 29.8% |
| Q3 25 | $0.52 | — | ||
| Q2 25 | — | — | ||
| Q3 24 | $0.62 | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q4 22 | — | — | ||
| Q3 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 | $485.5B | $13.0B |
| Total DebtLower is stronger | $213.0M | — |
| Stockholders' EquityBook value | $9.5B | $55.0B |
| Total Assets | $44.2B | $86.2B |
| Debt / EquityLower = less leverage | 0.02× | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $485.5B | $13.0B | ||
| Q2 25 | — | $8.8B | ||
| Q3 24 | $5.1B | $9.3B | ||
| Q1 24 | — | $7.7B | ||
| Q3 23 | — | $7.5B | ||
| Q2 23 | — | $4.3B | ||
| Q4 22 | — | $21.7B | ||
| Q3 22 | — | $3.6B |
| Q3 25 | $213.0M | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — |
| Q3 25 | $9.5B | $55.0B | ||
| Q2 25 | — | $50.5B | ||
| Q3 24 | $9.5B | $39.7B | ||
| Q1 24 | — | $30.3B | ||
| Q3 23 | — | $22.2B | ||
| Q2 23 | — | $20.0B | ||
| Q4 22 | — | $17.1B | ||
| Q3 22 | — | $15.1B |
| Q3 25 | $44.2B | $86.2B | ||
| Q2 25 | — | $79.2B | ||
| Q3 24 | — | $66.5B | ||
| Q1 24 | — | $52.3B | ||
| Q3 23 | — | $43.1B | ||
| Q2 23 | — | $37.8B | ||
| Q4 22 | — | $34.4B | ||
| Q3 22 | — | $29.4B |
| Q3 25 | 0.02× | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q4 22 | — | — | ||
| Q3 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 | $996.4M | $6.4B |
| Free Cash FlowOCF − Capex | $-264.6M | — |
| FCF MarginFCF / Revenue | -1.2% | — |
| Capex IntensityCapex / Revenue | 5.6% | — |
| Cash ConversionOCF / Net Profit | 1.55× | 1.56× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $996.4M | $6.4B | ||
| Q2 25 | — | $3.0B | ||
| Q3 24 | — | $3.9B | ||
| Q1 24 | — | $2.9B | ||
| Q3 23 | — | $4.5B | ||
| Q2 23 | — | $3.2B | ||
| Q4 22 | — | $7.0B | ||
| Q3 22 | — | $1.6B |
| Q3 25 | $-264.6M | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — |
| Q3 25 | -1.2% | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — |
| Q3 25 | 5.6% | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — |
| Q3 25 | 1.55× | 1.56× | ||
| Q2 25 | — | 0.70× | ||
| Q3 24 | — | 1.10× | ||
| Q1 24 | — | 0.75× | ||
| Q3 23 | — | 2.09× | ||
| Q2 23 | — | 1.78× | ||
| Q4 22 | — | 5.13× | ||
| Q3 22 | — | 1.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
