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Side-by-side financial comparison of PDD Holdings Inc. (PDD) and WEIBO Corp (WB). Click either name above to swap in a different company.
PDD Holdings Inc. is the larger business by last-quarter revenue ($15.2B vs $1.3B, roughly 11.8× WEIBO Corp). WEIBO Corp runs the higher net margin — 35.7% vs 27.1%, a 8.6% gap on every dollar of revenue. Over the past eight quarters, PDD Holdings Inc.'s revenue compounded faster (74.6% CAGR vs 22.6%).
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.
Weibo Corporation is a Chinese social network company known for the microblogging website Sina Weibo. It is based in Beijing, China.
PDD vs WB — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $15.2B | $1.3B |
| Net Profit | $4.1B | $458.3M |
| Gross Margin | 56.7% | — |
| Operating Margin | 23.1% | 29.1% |
| Net Margin | 27.1% | 35.7% |
| Revenue YoY | — | — |
| Net Profit YoY | — | — |
| EPS (diluted) | — | — |
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 | $15.2B | $1.3B | ||
| Q2 25 | $14.5B | $841.7M | ||
| Q1 25 | — | $396.9M | ||
| Q3 24 | $14.2B | $1.3B | ||
| Q2 24 | — | $833.4M | ||
| Q1 24 | $12.0B | $395.5M | ||
| Q3 23 | $9.4B | $1.3B | ||
| Q2 23 | $7.2B | $854.0M |
| Q3 25 | $4.1B | $458.3M | ||
| Q2 25 | $4.3B | $234.8M | ||
| Q1 25 | — | $108.1M | ||
| Q3 24 | $3.6B | $297.4M | ||
| Q2 24 | — | $164.6M | ||
| Q1 24 | $3.9B | $51.1M | ||
| Q3 23 | $2.1B | $268.8M | ||
| Q2 23 | $1.8B | $188.6M |
| Q3 25 | 56.7% | — | ||
| Q2 25 | 55.9% | — | ||
| Q1 25 | — | — | ||
| Q3 24 | 60.0% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 62.3% | — | ||
| Q3 23 | 61.0% | — | ||
| Q2 23 | 64.3% | — |
| Q3 25 | 23.1% | 29.1% | ||
| Q2 25 | 24.8% | 30.4% | ||
| Q1 25 | — | 27.8% | ||
| Q3 24 | 24.5% | 29.0% | ||
| Q2 24 | — | 28.2% | ||
| Q1 24 | 29.9% | 25.2% | ||
| Q3 23 | 24.2% | 27.3% | ||
| Q2 23 | 24.3% | 25.8% |
| Q3 25 | 27.1% | 35.7% | ||
| Q2 25 | 29.6% | 27.9% | ||
| Q1 25 | — | 27.2% | ||
| Q3 24 | 25.1% | 22.9% | ||
| Q2 24 | — | 19.8% | ||
| Q1 24 | 32.3% | 12.9% | ||
| Q3 23 | 22.6% | 20.7% | ||
| Q2 23 | 25.1% | 22.1% |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $13.0B | $1.1B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $55.0B | $3.9B |
| Total Assets | $86.2B | $6.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $13.0B | $1.1B | ||
| Q2 25 | $8.8B | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q3 24 | $9.3B | — | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | $7.7B | $2.1B | ||
| Q3 23 | $7.5B | $2.8B | ||
| Q2 23 | $4.3B | $2.4B |
| Q3 25 | $55.0B | $3.9B | ||
| Q2 25 | $50.5B | $3.6B | ||
| Q1 25 | — | $3.5B | ||
| Q3 24 | $39.7B | — | ||
| Q2 24 | — | $3.4B | ||
| Q1 24 | $30.3B | $3.3B | ||
| Q3 23 | $22.2B | $3.2B | ||
| Q2 23 | $20.0B | $3.1B |
| Q3 25 | $86.2B | $6.9B | ||
| Q2 25 | $79.2B | $6.5B | ||
| Q1 25 | — | $6.7B | ||
| Q3 24 | $66.5B | — | ||
| Q2 24 | — | $7.1B | ||
| Q1 24 | $52.3B | $7.3B | ||
| Q3 23 | $43.1B | $6.7B | ||
| Q2 23 | $37.8B | $6.9B |
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 | $6.4B | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.56× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $6.4B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | — | — | ||
| Q3 24 | $3.9B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $2.9B | — | ||
| Q3 23 | $4.5B | — | ||
| Q2 23 | $3.2B | — |
| Q3 25 | 1.56× | — | ||
| Q2 25 | 0.70× | — | ||
| Q1 25 | — | — | ||
| Q3 24 | 1.10× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.75× | — | ||
| Q3 23 | 2.09× | — | ||
| Q2 23 | 1.78× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PDD
Segment breakdown not available.
WB
| Income from operations | $373.2M | 29% |
| Shares used in computing diluted net income per share attributable to Weibos shareholders | $268.1M | 21% |
| Shares used in computing basic net income per share attributable to Weibos shareholders | $238.6M | 19% |
| Value-added services | $186.1M | 14% |
| Less: Income tax expenses | $113.2M | 9% |
| Investment related income, net | $45.0M | 4% |
| Product development | $16.7M | 1% |
| General and administrative | $10.6M | 1% |
| Sales and marketing | $7.1M | 1% |
| Accretion to redeemable non-controlling interests | $3.0M | 0% |
