vs
拼多多（PDD）与Token Cat Ltd（TC）财务数据对比。点击上方公司名可切换其他公司
拼多多的季度营收约是Token Cat Ltd的5508.7倍（$15.2B vs $2.8M）。拼多多净利率更高（27.1% vs -3.4%，领先30.5%）
PDD控股是总部位于爱尔兰的跨国企业，旗下拥有中国头部线上零售平台拼多多和跨境电商平台Temu。拼多多主打农业供应链数字化升级，助力农产品直接对接广大消费者需求。
PDD vs TC — 直观对比
营收规模更大
PDD
是对方的5508.7倍
$2.8M
净利率更高
PDD
高出30.5%
-3.4%
损益表 — Q3 2025 vs Q2 2025
| 指标 | | |
|---|---|---|
| 营收 | $15.2B | $2.8M |
| 净利润 | $4.1B | $-93.0K |
| 毛利率 | 56.7% | 79.0% |
| 营业利润率 | 23.1% | -206.9% |
| 净利率 | 27.1% | -3.4% |
| 营收同比 | — | -37.9% |
| 净利润同比 | — | 98.3% |
| 每股收益（稀释后） | — | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收PDDTC
| Q3 25 | $15.2B | — | ||
| Q2 25 | $14.5B | $2.8M | ||
| Q3 24 | $14.2B | — | ||
| Q2 24 | — | $4.4M | ||
| Q1 24 | $12.0B | — | ||
| Q3 23 | $9.4B | — | ||
| Q2 23 | $7.2B | $12.7M | ||
| Q4 22 | $5.8B | — |
净利润PDDTC
| Q3 25 | $4.1B | — | ||
| Q2 25 | $4.3B | $-93.0K | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | — | $-5.6M | ||
| Q1 24 | $3.9B | — | ||
| Q3 23 | $2.1B | — | ||
| Q2 23 | $1.8B | $-4.2M | ||
| Q4 22 | $1.4B | — |
毛利率PDDTC
| Q3 25 | 56.7% | — | ||
| Q2 25 | 55.9% | 79.0% | ||
| Q3 24 | 60.0% | — | ||
| Q2 24 | — | 69.2% | ||
| Q1 24 | 62.3% | — | ||
| Q3 23 | 61.0% | — | ||
| Q2 23 | 64.3% | 63.4% | ||
| Q4 22 | 77.6% | — |
营业利润率PDDTC
| Q3 25 | 23.1% | — | ||
| Q2 25 | 24.8% | -206.9% | ||
| Q3 24 | 24.5% | — | ||
| Q2 24 | — | -146.9% | ||
| Q1 24 | 29.9% | — | ||
| Q3 23 | 24.2% | — | ||
| Q2 23 | 24.3% | -59.9% | ||
| Q4 22 | 22.9% | — |
净利率PDDTC
| Q3 25 | 27.1% | — | ||
| Q2 25 | 29.6% | -3.4% | ||
| Q3 24 | 25.1% | — | ||
| Q2 24 | — | -125.9% | ||
| Q1 24 | 32.3% | — | ||
| Q3 23 | 22.6% | — | ||
| Q2 23 | 25.1% | -33.3% | ||
| Q4 22 | 23.7% | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $13.0B | $150.0K |
| 总债务越低越好 | — | $1.4M |
| 股东权益账面价值 | $55.0B | $4.6M |
| 总资产 | $86.2B | $28.4M |
| 负债/权益比越低杠杆越低 | — | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资PDDTC
| Q3 25 | $13.0B | — | ||
| Q2 25 | $8.8B | $150.0K | ||
| Q3 24 | $9.3B | — | ||
| Q2 24 | — | $689.0K | ||
| Q1 24 | $7.7B | — | ||
| Q3 23 | $7.5B | — | ||
| Q2 23 | $4.3B | $3.0M | ||
| Q4 22 | $21.7B | — |
总债务PDDTC
| Q3 25 | — | — | ||
| Q2 25 | — | $1.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $1.8M | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q4 22 | — | — |
股东权益PDDTC
| Q3 25 | $55.0B | — | ||
| Q2 25 | $50.5B | $4.6M | ||
| Q3 24 | $39.7B | — | ||
| Q2 24 | — | $-787.0K | ||
| Q1 24 | $30.3B | — | ||
| Q3 23 | $22.2B | — | ||
| Q2 23 | $20.0B | $9.1M | ||
| Q4 22 | $17.1B | — |
总资产PDDTC
| Q3 25 | $86.2B | — | ||
| Q2 25 | $79.2B | $28.4M | ||
| Q3 24 | $66.5B | — | ||
| Q2 24 | — | $12.5M | ||
| Q1 24 | $52.3B | — | ||
| Q3 23 | $43.1B | — | ||
| Q2 23 | $37.8B | $25.1M | ||
| Q4 22 | $34.4B | — |
负债/权益比PDDTC
| Q3 25 | — | — | ||
| Q2 25 | — | 0.30× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q4 22 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $6.4B | $-23.7M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.56× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流PDDTC
| Q3 25 | $6.4B | — | ||
| Q2 25 | $3.0B | $-23.7M | ||
| Q3 24 | $3.9B | — | ||
| Q2 24 | — | $-1.5M | ||
| Q1 24 | $2.9B | — | ||
| Q3 23 | $4.5B | — | ||
| Q2 23 | $3.2B | $-7.2M | ||
| Q4 22 | $7.0B | — |
自由现金流PDDTC
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-1.5M | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q4 22 | — | — |
自由现金流率PDDTC
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -34.4% | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q4 22 | — | — |
资本支出强度PDDTC
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q4 22 | — | — |
现金转化率PDDTC
| Q3 25 | 1.56× | — | ||
| Q2 25 | 0.70× | — | ||
| Q3 24 | 1.10× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.75× | — | ||
| Q3 23 | 2.09× | — | ||
| Q2 23 | 1.78× | — | ||
| Q4 22 | 5.13× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
